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NowVertical Group Provides Update on New Client Wins, Renewals and Operations

NowVertical Group Inc., a big data, analytics and vertical intelligence (“VI”) software and services company, provided an update on the execution of its ongoing integration plan following its 2022 acquisitions of CoreBI S.A. and CoreBI S.A.S. (“CoreBI”), Exonar Ltd. (“Exonar”) and Allegient Defense, Inc. (“Allegient”).

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“As part of the integration planning process, we have completed a comprehensive evaluation of the opportunities for continuing to grow our Service and Software offerings. We are ahead of schedule with the rollout of the NOW platform and integration, and our strategy is working. We are excited by the opportunities we see in the companies we have acquired during our first 18 months,” said Daren Trousdell, Chief Executive Officer of NOW. “As we continue to add new companies to the NOW platform, we are committed to doing so in an accretive manner that will add value to our shareholders.”

Expanding Integration and Operational Synergies

In addition to directly benefitting from its new acquisitions’ stand-alone growth, NOW will continue to create additional value from its integration strategy through:

  • the cross-sale of NOW Origin and NOW Affinio’s products to our established portfolio of over 100 customers globally;
  • conducting coordinated go-to-market strategies across business units; and
  • leveraging in-house software to drive material increases in NOW Solutions’ margins.

NOW anticipates the revenues from these levers will create value for shareholders, drive healthy high double-digit revenue growth and pave the way for positive Adjusted EBITDA in the near term.

NOW Solutions Update: Expanding Customer Profile and Geographic Reach

Over the past 100 days, NOW significantly expanded its government vertical with the acquisition of Allegient, which recently exercised year one options with the Office of Naval Research for $1.7M, the Department of Energy for $1.03M, and the Department of State for $278K. Allegient currently has a contracted backlog of approximately $70M through 2025.

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In addition, CoreBI maintained a 100% customer renewal rate in the first quarter and added four net-new customers to its mix, including Appa!, Vista Energy, Prosegur, and Kin & Carta. The new customer logos mark an extension of CoreBI’s service offering and global access, with the expansion of client operations into Germany and a new contract paving entry into the security services market.

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NOW Origin Update: Completing Integrations, Adding Customers and Renewals

With its recent integration of UK-based Exonar, NOW Origin is quickly building a significant presence in high-growth verticals, including government, banking, pharmaceuticals, and logistics. Origin’s recent wins include:

  • HIPAA violation management contract with a US Government agency with contract expansion opportunities.
  • 3-year extension to provide structured and unstructured data discovery and data management with a global bank.
  • 3rd successive one-year renewal contract for $650K with a prominent South African banking group.
  • Contract extension to deliver governance risk and compliance management for a major global pharmaceutical company.
  • 3-year extension to provide governance risk and compliance management for Campden BRI Food & Drink Science & Technology.
  • 4th one-year renewal for a data security and GDPR compliance services contract with a not-for-profit protection organization for doctors, dentists and healthcare professionals.

NOW Affinio Update: Extending Contract with Major Social Media Platform

NOW Affinio is currently piloting its market basket analysis product on Snowflake. Embedding clustering and Affinio visuals will enable audience clustering on 1st party data for Snowflake customers.

In addition to the pilot, Affinio also signed a 12-month, six-figure contract extension with a major social media platform for their 3rd party social product. It has also secured significant renewals with marquee customers, including Wunderman Thompson, Danone SA, Universal Music Group, and Edelman PR.

Engagement of Market-Maker Services

NOW also entered into a market-making agreement with Independent Trading Group (“ITG”), under which ITG has agreed to provide market-making services to the Company in accordance with the policies of the TSX Venture Exchange (the “TSXV”) and applicable laws.

ITG will trade the company’s securities on the TSXV to maintain an orderly market. None of ITG nor its affiliates or associates has any interest directly or indirectly in the Company or its securities or any right or intent to acquire such an interest. In consideration of the services provided by ITG, the Company will pay ITG a monthly cash fee of $5,000 for a minimum term of one month, which will automatically extend for successive one-month terms unless terminated by either party on thirty days prior notice. The services provided by ITG commenced on April 20, 2022. ITG will not receive shares or other securities as compensation.  ITG will provide the capital used for market making.

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