Operations in the first financial quarter were in general as expected and followed the planned reductions in operating costs for the company to become cash flow positive.
Expectations for 2023 of revenue of DKK 11 - 15 million and EBITDA of between DKK (2) - 1.5 million are reiterated.

• Q1 2021 revenue came in slightly under expectations at TDKK 1.513 vs. a budget of 1.827 resulting in negative deviation of DKK 314K (Q1 2022 at TDKK 2.418). The main reason for this was a customer project aimed for Q1 is now taking place in Q2 and will therefore appear in H1 reporting.
• The cost reductions initiated last year are taking positive effect showing a positive impact on EBIDTA of TDKK -4.080 in 2022 to TDKK -2.158 in 2023
• The US subsidiary received notice of customers aiming to reduce their cost-base by scaling down their usage of our software impacting the revenue. This was taken into account in the forecast for 2023 communicated earlier this year.
• Annual shareholders meeting held, where Christian Hein Nielsen was elected to the Board and subsequently appointed Chair. Since 2022, Christian was appointed Chief Operating Officer (COO) at Saphe in 2022. Prior to this position, Christian was Director of Operations in Telenor, an organization he held various management position within covering a period of 17 years. More details can be found at the company website.
• Charlotte Enlund and Pia Riise were both re-appointed and will continue as Board Members. Their details can also be found on the company website.
• The company converted DKK 2,394 dept to shares.
• Pilots initiated, where potential customers are testing the usage of the AI solution, RevealCX-Boost has been initiated. These are to be concluded EOQ2.
• RevealCX was also enhanced with several new features to increase the benefits of working within the platform, including a new workflow module enabling further automation. 
• Ivan Guevara, Chief Sales Officer in the US has left the Company. The position will be covered by CEO Rolf Adamson.
• Interim CTO appointed, David Chippendale, replacing Iain Ironside who has retired. Prior to joining Nexcom, David was the CEO of Chip Studio, a software vendor of COPC Inc., the United States Air Force, and laboratory research. David has extensive knowledge of building commercial AIs, system architecture, and SaaS product development.

MANAGEMENT COMMENTS

The company expects to carry out a capital increase in early Q3 to support the continued operation and expansion in line with the planned growth track, and furthermore to reduce the company's debt profile.

Taking into account the general conditions on the financial markets and the company's ability to fund the growth strategy, Nexcom adjusted its growth strategy last year reflecting the changed market situation.

The strategy remains to secure profitable growth and reducing the needed revenue to become cash flow positive by reducing the operating costs of the company. This has had the planned effect in Q1, where the reductions have reduced the operating costs significantly.

The management believes the adjustments to the operation will result in a sound yet scalable cost structure supporting growth moving forward.

Disclaimer

This report contains forward-looking statements based on management's current expectations. All statements about the future are subject to inherent risks and uncertainties, and many factors can lead to actual results and developments that differ materially from those expressed or implied in such statement

INCOME STATEMENT Q1 2023 [January 1[st ]- March 31[st], 2023]

The report has not been audited.

TDKK Q1-2023 Q1-2022
Revenue 1,513 2,418
TOTAL REVENUE 1,513 2,418
Personnel -2,324 -4,555
Other external costs -1,347 -1,943
EBITDA -2,158 -4,080
Depreciation -943 -894
EBIT --3,101 -4,974
Financial expenses -681 -404
PROFIT/LOSS BEFORE TAX -3,782 -5,378
Tax -15 -
PROFIT/LOSS AFTER TAX -3,797 -5,378

Number og employees 11
Outstanding shares 15,023,727
Earnings pr, share (DKK) -0,25

BALANCE SHEET SUMMARY Q1 2023 [January1[st]-March 31[st], 2023]

The report has not been audited,

TDKK Q1-2023 Q1-2022
ASSETS
Intangible assets 16,881 19,711
Material assets 77 110
Deposit 53 80
TOTAL NON-CURRENT ASSETS 17,011 19,901
TOTAL CURRENT ASSETS 1,924 8,706
TOTAL ASSETS 18,935 28,608

TDKK Q1-2023 Q1-2022
LIABILITIES
Share capital 7,512 5,450
Capital increase 1,915 0
Exchange rate adjustments -557 0
Retained earnings this year -8,710 3,346
EQUITY 160 8,796
Long-term liabilities 9,065 6,353
Short-term liabilities 3,792 11,327
Other debt 5,918 2,132
LIABILITIES 18,775 19,812
TOTAL EQUITY AND LIABILITIES 18,935 28,608

• The company's total assets amount to DKK 18,935k per March 31st, 2023.

The report has not been audited,

TDKK Share Share Foreign currency Retained earnings Equity
Capital premium translation
reserve
Equity 7,033 - -407 -5,080 1,546
January
1,2023
Capital 479 1,915 2,394
increase
Transfer to -
reserves
Exchange -150 -150
rate
adjustment
Net -3,630 -3,630
profit/loss
EQUITY JUNE 7,512 1,915 -557 -8,710 160
30,2022

• The company's equity totals DKK 160k per March 31st, 2023.

The report has not been audited,

The Board of Directors and Management have today considered and approved the interim financial report of Nexcom A/S for the first quarter of 2023. The interim financial report has not been audited or reviewed by the company's independent auditors.

The interim financial report for the first quarter of 2023 has been prepared in accordance with the provision of the Danish Financial Statements Act for Accounting Class B with the option of certain principles for Accounting Class C and additional disclosure requirements for companies admitted to trading on Nasdaq First North Growth Market. The accounting policies adopted are consistent with those applied in the annual report 2022.

In our opinion the accounting policies applied are appropriate to the effect that the interim financial report gives a true and fair view of the company's assets, liabilities, and financial position on March 31[st], 2023. Furthermore, in our opinion, the Management review gives a true and fair view of the development in the activities and the financial situation, the financial result for the period and the financial position of the company, Nexcom.

Risks and uncertainties have not changed in relation to the conditions mentioned in the company description prepared in connection with Nexcom share listing on Nasdaq First North Growth Market, Copenhagen. The annual report 2022 and the company description is available at nexcom.dk.

Copenhagen April 20[th], 2023

MANAGEMENT

Rolf Adamson

CEO

BOARD OF DIRECTORS

Christian Hein Nielsen                                       Pia Gardø Riise                                Charlotte Enlund
Chairman