September` 2026: Growth metrics update

• Live ARR ended at 11.25 MSEK, +6.85 MSEK YoY (+155.4%) and +0.45 MSEK MoM (+4.1%).
• BaaS accounted for 7.81 MSEK (+77.2% YoY, +4.3% MoM). Hosting accounted for 3.45 MSEK (+8.0% YoY on a pro forma basis, +3.7% MoM).
• Total contracted ARR reached 15.57 MSEK, +0.56 MSEK MoM (+3.7%). The contracted ARR backlog of 4.32 MSEK is expected to convert to live ARR over the next 12 months.
• BaaS accounted for 12.13 MSEK (+3.7% MoM) and Hosting accounted for 3.45 MSEK (+3.7% MoM).
• Excluding Hosting, gross margin was 78% in September. BaaS gross margins are expected to remain well above the target of >70%. Hosting gross margin was 60%.
• BaaS LTM ARR churn was 3.35% and NRR was 123.7%. 

"Signed and live ARR continued its healthy growth in September, in line with the year-to-date monthly average. The task now is to lift that pace, and we have three concrete levers to do so. First, we have ramped up commercial efforts towards new re-sellers. Second, we are progressing on discussions that would bring entire customer portfolios onto our platform. Third, commercial synergies from the Deploi acquisition are now taking shape, as we are offering white-label hosting services through our existing partner network. This creates significant potential to increase recurring revenue per existing customer. 

M&A remains a priority for us and we are actively working to bring opportunities to completion. Alongside this, we remain focused on growing Cash EBITDA."

Sincerely, 

Sindre Sørlie, CEO Synexo Group AB 

For further information, please contact:

Sindre Sørlie, CEO/ [email protected] /+47 970 14 908 

Haavard Traa, CFO / [email protected] / +47 959 49 356

Website: https://Synexo.group

About us

Synexo Group AB (publ) is a Nordic technology group listed on the Nordic SME exchange in Sweden, building a leading platform for backup, cloud hosting, disaster recovery, and data protection services.

Our strategy combines disciplined acquisitions with sustainable organic growth to consolidate a fragmented Nordic market. By focusing exclusively on mission-critical, recurring revenue software and infrastructure services, we create a business with high customer retention, strong cash generation, and scalable economics.

Today, Synexo owns three Nordic companies, Backupbuddy AS, Backupbanken AS, and Deploi AS - providing a solid foundation of recurring ARR, low capital intensity, and operational excellence.

Our ambition is to become the Nordic equivalent of a Constellation business: a long-term owner of exceptional technology companies, built on a 100% recurring revenue model, predictable cash flows, and a disciplined capital allocation strategy with significant international expansion potential.