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Vercom with gross profit increased nearly 50% y-o-y in Q1 2022

Vercom, a technology company providing cloud-based CPaaS solutions (Communication Platform-as-a-Service), summarized the first quarter of 2022. It was a period of dynamic growth, in which revenue increased by 29% y-o-y to PLN 50 million and gross profit jumped to 50 million PLN, the gross profit jumped by nearly 50% year-on-year and amounted to PLN 15 million. The number of customers increased by 66% y-o-y and exceeded 19 thousand. In the past quarter the Company also worked on finalizing the acquisition of MailerLite, which will significantly scaling up Vercom’s business.

The first quarter of this year was a time of dynamic business growth, with the number of customers increased by 66% and exceed 19,000 at the end of March. Vercom started cooperation with Samsung Polska, Empik, Bank Gospodarstwa Krajowego and British American Tobacco. The gross profit also increased dynamically to PLN 15 million, it’s an increase over 50% year-on-year.

Vercom’s consistent growth is due to the acquisition of new customers and increased sales to existing ones. It is also worth mentioning that the increase in profitability is a result of an improved product mix due to growing interest in CPaaS services and synergies resulting from our previous acquisitions – comments Krzysztof Szyszka, CEO Vercom.

The past quarter was also a period of intensive work related primarily to the acquisition of MailerLite – a global provider of e-mail communication tools for business customers headquartered in the United States for approximately PLN 400 million. This is the largest acquisition of a foreign entity by a Polish Company this year and one of the largest in the technology sector in recent years.

The acquisition of MailerLite opens up completely new growth opportunities for us. It’s not only a significant milestone in our business, but also a strong entry into a 14x larger market, which will give us the potential for further dynamic organic growth in the coming years. We are consistently implementing a strategy that aims to strengthen our presence on the international market and join the top global players – adds Krzysztof Szyszka.

The acquisition will significantly increase the scale of the Company’s operations in both business and financial terms. Following last year’s acquisitions of FreshMail and PushPushGo, which strengthened Vercom’s leading position on the CEE CPaaS market, the Company’s next ambitious step is to join the top global CPaaS players such as Twilio or Sinch.

At the same time, the Vercom team will be joined by approximately 100 specialists concentrated in 30 international locations, which will give us the ability to efficiently serve our global customer portfolio in all time zones. We have thus secured a significant potential in the area of revenue synergies – says Tomasz Pakulski, Member of the Vercom. Management Board.

May marked exactly one year since Vercom’s debut on the Warsaw Stock Exchange. Within 12 months of raising funds and first listing on the Warsaw Stock Exchange, the company has met its issue objectives by acquiring FreshMail, PushPushGo, Oxylion and MailerLite.

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