Meltwater Reports First Quarter 2023 Financial Results

- Q1 2023 revenue increased to $111.0m
     
- ARR grew in Q1 2023 to $459.2m, up 7% year-over-year
     
- Q1 2023 Gross margin of 76.8% 

Oslo, 31 May 2023: Meltwater (ticker: MWTR) has announced financial results for
the first quarter ended 31 March 2023. The results are in line with the
preliminary and unaudited update on Q1 2023 published on 26 April 2023.

First Quarter 2023 Financial Summary Results

 Q1 2023 revenue of $111.0m, up 2% YoY. On a constant currency basis, Q1
revenue would have been $4.2m higher at $115.2m, up 5% year-over-year. 
 Q1 2023 Adjusted EBITDA: Adjusted EBITDA for the first quarter 2023 was $3.8m,
or 3.4% of revenue.
 Gross margin in the first quarter of 2023 increased to 76.8%, compared to
74.5% in Q1 2022 and shows continued improvement. 
 Positive cash flow from operations: First quarter 2023 generated $4.8m
positive cash flow from operations.
 Cash balance as of 31 March 2023 was $31.9m.

Q1 2023 Business Highlights 

Product Highlights

 Social Media Management - New Team Performance Dashboard to easily track,
measure, and trend Social team activity and conversations across all social
channels. This allows Social & Marketing teams to ensure they are meeting KPIs
and working towards community growth and engagement.

 Media & Social Intelligence - New Custom Dashboards, a simple and intuitive
experience for users to build dashboards measuring perception of a brand,
campaign, or initiative, across 28 earned-media analytics. For the first time,
users can track results across news, social and broadcast content, incorporating
insights from across the Meltwater product suite.

 Social Listening - Now showing Twitter Views and Media Views, giving teams
more engagement data on the total number of times a Tweet has been viewed, and
number of times media has been viewed within a Tweet. Meltwater is the first
social listening product in the industry to be able to provide this. 

Company Highlights 

 Announced a new global partnership with Red Havas, the global merged media
agency micronetwork to become preferred partners on a global level. Red Havas is
using Meltwater solutions in their work with clients around the world, and
managing media relations and executive thought leadership for Meltwater.

 Maintained #1 position in G2 rankings for Media Monitoring, PR Analytics, and
Media & Influencer Targeting. G2 is the world's leading B2B technology review
platform, and Meltwater was ranked based on high levels of buyer satisfaction
and ratings from actual Meltwater users.

 Won new Comparably awards for Best Global Culture, Best Sales Teams and Best
Company Outlook, highlighting employee satisfaction across a variety of factors
including competitive compensation, clear goals, work-life balance, and a
general excitement working for their organizations.

Confirming Status of Voluntary Offer

On 30 May 2023, MW Investment B.V. (the "Offeror") announced the final results
of its voluntary offer (the "Offer") to acquire all the shares in Meltwater N.V.
As per the announcement, the Offeror (together with its affiliates) owns, or
has, through acceptances from shareholders, the pre-acceptances to the Offer
from Fountain Venture AS and Fountain V B.V., and Altor Fund III's current
holding of shares in Meltwater through its portfolio company Big Data Holding
Ltd, rights to, in total 267,858,843 shares in Meltwater (which for the
avoidance of doubt, includes (i) Meltwater shares directly or indirectly held by
the Offeror or any of its affiliates, (ii) Meltwater shares committed in writing
to the Offeror, or any of its affiliates, but not tendered and (iii) Meltwater
shares to which the Offeror is otherwise entitled, and such acceptances not
being subject to any third party consents in respect of pledges or other
rights), representing in total approximately 89% of the issued and outstanding
share capital, excluding treasury shares held by the Meltwater Group. The
condition for closing of the Offer relating to minimum acceptance level has thus
been satisfied.

Completion of the Offer remains subject to the fulfillment or waiver by the
Offeror of the remaining closing conditions, as set out in section 3.3.4 of the
offer document, other than the "Minimum acceptance" condition.

Conference Call and Earnings Presentation

The company will not host an earnings conference call or provide financial
guidance in conjunction with our first quarter 2023 earnings release due to the
pending transaction with MW Investment B.V.

Please find enclosed the interim report for the first quarter.

For further information, please contact:

Elise Heidenreich (Investor Relations and Media Contact Oslo)
eh@meltwater.com

Brinlea Johnson (Investor Relations and Media Contact New York)
ir@meltwater.com

About Meltwater

Meltwater provides social and media intelligence. By examining millions of posts
each day from social media platforms, blogs and news sites, Meltwater helps
companies make better, more informed decisions based on insight from the
outside. The company was founded in Oslo, Norway, in 2001 and now has 50 offices
across six continents. The company has ~2,300 employees and 27,000 corporate
customers, including industry leaders in several sectors. Learn more at
meltwater.com. 

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Elise Heidenreich, Investor
Relations at Meltwater N.V., on 31 May 2023 at 16:30 CEST.