Powering the world's leading AI and enterprises with public data at massive scale Investor Presentation – Q4 2025 March 2026 Nasdaq: ALAR TASE: ALAR ©2026 Alarum Technologies Ltd. All Rights Reserved Disclaimer & forward-looking statements This presentation was by prepared Alarum Technologies Ltd. (the "Company" or "Alarum"). This presentation does not constitute an offer to purchase or sell securities of the Company or an invitation to receive such offers, nor does it constitute a recommendation or opinion ...

Core Insights - Alarum Technologies Ltd. reported significant revenue growth for the fourth quarter and full year 2025, with revenues of $11.8 million and $40.7 million, representing increases of 60% and 28% year-over-year, respectively, driven by rising demand for AI solutions [1][5][13] - The company maintained profitability with a net profit of $1.0 million for FY 2025 and an adjusted EBITDA of $4.4 million, despite increased operating expenses due to strategic investments in infrastructure and product development [1][5][6] Financial Highlights of Full Year 2025 - Total revenue reached $40.7 million, up from $31.8 million in 2024, marking a 28% increase [5][12] - Gross margin decreased to 58.5% from 75.1% in 2024, attributed to investments in infrastructure and customer support [5][12] - Operating expenses rose to $23.6 million from $17.2 million in 2024, reflecting increased operational costs [5][12] - Net profit decreased to $1.0 million from $5.8 million in 2024, while adjusted EBITDA fell to $4.4 million from $9.4 million [5][12] Financial Highlights of Fourth Quarter of 2025 - Fourth quarter revenues were $11.8 million, a 60% increase from $7.4 million in Q4 2024 [5][12] - Gross margin for the quarter was 53.8%, down from 72.4% in Q4 2024 [5][12] - Net profit for Q4 2025 was $0.2 million, compared to $0.4 million in Q4 2024, with adjusted EBITDA of $1.0 million, down from $1.5 million in the previous year [5][12] Management Commentary - The CEO highlighted 2025 as a transformational year, with the company scaling its organization and product platform to meet the growing demands of the AI ecosystem [4] - Alarum transitioned from a proxy-focused company to a broader data infrastructure platform, enhancing its capabilities to support large-scale AI workloads [4][6] - The company noted a significant increase in data workloads and a shift towards enterprise-scale customer engagements, indicating a deeper integration into the AI data infrastructure ecosystem [4][6] Business Highlights - Alarum experienced a notable increase in average revenue per customer, driven by expanding AI workloads [10] - The company is focusing on evolving its product offerings, including Website Unblocker and SERP solutions, to meet the growing complexity of web data collection [10] - There was a significant shift in customer segments, with strong growth in the AI vertical, while legacy markets declined, resulting in a net retention rate of 0.83 [10][27] Financial Outlook - For Q1 2026, the company expects revenues of approximately $11.0 million, up 54% year-over-year, and an adjusted EBITDA of around $1.4 million [11]

Financial Data and Key Metrics Changes - Revenues for Q3 2025 reached $13 million, an increase of 81% year-over-year and 48% sequentially, marking one of the strongest quarters in the company's history [7][15] - Non-IFRS gross margins for Q3 2025 were 56%, down from 74% in Q3 2024, reflecting increased investments and a higher share of large-scale projects with AI customers [16][17] - Operating expenses in Q3 2025 were $7.4 million, compared to $4.1 million in Q3 2024, driven by planned investments in R&D and sales [17] - Net profit for Q3 2025 was $0.1 million, down from $4.2 million in Q3 2024, with the previous year's profit influenced by one-time financial income [18][19] - Adjusted EBITDA for Q3 2025 was $1.2 million, compared to $1.4 million in Q3 2024 [19] Business Line Data and Key Metrics Changes - The company saw a 26% increase in paying customers and a 17% increase in average revenue per customer during the quarter [7] - The product suite is evolving from a single product proxy business into a diversified multi-product data infrastructure platform, with significant growth in datasets and website unblockers [12] Market Data and Key Metrics Changes - There is significant traction from major global e-commerce platforms in Asia, with repeat and expanding orders [8] - The AI market is experiencing volatility, but demand is broadening and growing sharply, positioning AI as a core long-term growth engine for the company [8][11] Company Strategy and Development Direction - The company prioritizes long-term relationships and market share capture over short-term margins and profitability [3] - Strategic investments are being made to expand capacity and enhance infrastructure, which is expected to improve margins over time [9][10] - The company aims to shift towards higher value products, which will improve unit economics and margins as the product mix evolves [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to expand both gross and operating margins as the product mix continues to shift and infrastructure becomes more efficient [11] - For Q4 2025, the company expects revenues of approximately $12 million, representing a significant 62% year-over-year growth [13][20] - The company is positioned to serve the increasing reliance on high-quality, real-time public web data, with a vision to become a foundational data infrastructure company in the AI sector [14] Other Important Information - The company's shareholders' equity increased to $31.1 million as of September 30, 2025, up from $26.4 million at the end of 2024 [19] - Cash and cash equivalents as of September 30, 2025, were approximately $24.6 million, supporting strategic investments [19] Q&A Session Summary Question: Can you talk about the large project for Dataset delivery? - Management clarified that it is not a project but a demand for a product combining a scraper and dataset, with high customer satisfaction and retention [22][25] Question: Do you see once R&D customers have developed their models that usage is higher or lower? - Management indicated that during the education stage, data needs are high, but in the production stage, usage becomes more predictable and sustainable [26][27] Question: What is the pipeline to sell this new Dataset delivery solution to other customers? - Management confirmed that there are already other customers leveraging this product, and there are additional prospects in the pipeline [30] Question: How should we think about the gross margin recovering as revenue scales? - Management noted that if all solutions were in-house, gross margins could be around 70%, and improvements are expected as demand stabilizes and infrastructure efficiency increases [31][33]

Financial Data and Key Metrics Changes - Revenues for Q3 2025 reached $13 million, an increase of 81% year-over-year and 48% sequentially, marking one of the strongest quarters in the company's history [7][15] - Non-IFRS gross margins for Q3 2025 were 56%, down from 74% in Q3 2024, reflecting increased investments and a higher share of large-scale projects with AI customers [16][17] - Operating expenses in Q3 2025 were $7.4 million, compared to $4.1 million in Q3 2024, driven by planned investments in R&D and sales [17] - Net profit for Q3 2025 was $0.1 million, down from $4.2 million in Q3 2024, with the previous year's profit influenced by one-time financial income [18][19] - Adjusted EBITDA for Q3 2025 was $1.2 million, compared to $1.4 million in Q3 2024 [19] Business Line Data and Key Metrics Changes - The company saw a 26% increase in paying customers and a 17% increase in average revenue per customer during the quarter [7] - The product suite is evolving from a single product proxy business into a diversified multi-product data infrastructure platform, with significant contributions from datasets and website unblockers [12] Market Data and Key Metrics Changes - The company is experiencing strong traction with major global e-commerce platforms in Asia, which are placing repeat and expanding orders [8] - Demand from leading AI labs is expected to grow sharply, indicating a broadening market for the company's services [8][12] Company Strategy and Development Direction - The company prioritizes long-term relationships and market share capture over short-term margins, with a focus on AI-driven growth [3] - Strategic investments are being made to expand capacity and enhance infrastructure, which is expected to improve margins in the long term [9][10] - The company aims to shift towards higher value products, which will improve unit economics and margins over time [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position within the AI market, anticipating smoother revenue patterns as models transition from research to production [11] - For Q4 2025, the company expects revenues of approximately $12 million, representing a 62% year-over-year growth [13][20] - The company aims to end 2025 with around $41 million in revenues, up almost 30% year-over-year [13] Other Important Information - The company's shareholders' equity increased to $31.1 million as of September 30, 2025, up from $26.4 million at the end of 2024 [19] - Cash and cash equivalents as of September 30, 2025, were approximately $24.6 million, supporting ongoing strategic investments [19] Q&A Session Summary Question: Can you talk about the large project for Dataset delivery? - Management clarified that it is not a project but a demand for a product combining a scraper and dataset, with significant revenue contribution [22][23] Question: Do you see once R&D customers have developed their models that usage is higher or lower? - Management indicated that during the education stage, customers need a large amount of data quickly, while in production, usage may be more predictable but spread over time [26][27] Question: What is the pipeline to sell this new Dataset delivery solution to other customers? - Management confirmed that there are already other customers leveraging this product, and there are additional prospects in the pipeline [30] Question: How should we think about the gross margin recovering as revenue scales? - Management noted that if all solutions were in-house, gross margins could be around 70%, and they are working to reduce reliance on third-party vendors [31][32] Question: When will and how do you think about the unit economics improving? - Management expects improvements in unit pricing as demand stabilizes and infrastructure becomes more efficient [36][37]

Financial Data and Key Metrics Changes - Revenues for Q3 2025 reached $13 million, an increase of 81% year-over-year and 48% sequentially, marking one of the strongest quarters in the company's history [6][14] - Non-IFRS gross margins for Q3 2025 were 56%, down from 74% in Q3 2024, reflecting increased investments and a higher share of large-scale projects with AI customers [15][16] - Net profit for Q3 2025 was $0.1 million, a significant decrease from $4.2 million in Q3 2024, primarily due to a high financial income in the previous year [17][18] - Adjusted EBITDA for Q3 2025 was $1.2 million, slightly down from $1.4 million in Q3 2024 [17] Business Line Data and Key Metrics Changes - The company saw a 26% increase in paying customers and a 17% increase in average revenue per customer during the quarter [6] - The product suite is evolving from a single product proxy business into a diversified multi-product data infrastructure platform, with significant growth in AI-centric products [11] Market Data and Key Metrics Changes - Strong growth was noted in the AI vertical, offsetting declines in other segments, with one large-scale AI customer contributing approximately $3.5 million in revenue [15] - The company is experiencing significant traction with major global e-commerce platforms in Asia, which are placing repeat and expanding orders [7] Company Strategy and Development Direction - The company prioritizes long-term relationships and market share capture over short-term margins and profitability, with a focus on AI-driven growth [3] - Strategic investments are being made to expand capacity and enhance infrastructure, which are expected to drive long-term growth despite short-term margin pressures [8][10] - The company aims to shift towards higher value products, which will improve unit economics and margins over time [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growing demand for AI services and the company's positioning within the data industry, anticipating a revenue of approximately $12 million for Q4 2025, representing a 62% year-over-year growth [12][19] - The volatility in demand from leading labs is expected to stabilize as models transition from research to production [10] Other Important Information - The company's cash position as of September 30, 2025, was approximately $24.6 million, supporting ongoing strategic investments [18] Q&A Session Summary Question: Can you talk about the large project for Dataset delivery? - Management clarified that the demand is for a combination of a scraper and a dataset, with high customer satisfaction and retention [22][25] Question: Do you see usage being higher or lower once R&D customers have developed their models? - Management indicated that while initial data needs are high during the education stage, usage may become more predictable in the production stage [26][27] Question: What is the pipeline to sell this new Dataset delivery solution to other customers? - Management confirmed that there are already other customers leveraging this product, with additional prospects in the pipeline [30] Question: How should we think about the gross margin recovering as revenue scales? - Management projected that gross margins could improve significantly if third-party vendor reliance decreases, with a potential gross margin of around 70% if all solutions were in-house [31][33] Question: When will unit economics improve? - Management noted that as demand stabilizes and infrastructure efficiency increases, unit prices may rise, benefiting overall margins [36][37]

Financial Performance & Growth - Alarum Technologies' LTM (Last Twelve Months) revenue to Q3 2025 reached $36.3 million[7] - Adjusted EBITDA for the LTM to Q3 2025 was $4.9 million[7] - Data Collection experienced a Compound Annual Growth Rate (CAGR) of 68% from 2020 to 2024[7, 36] - The company's cash, cash equivalents, and cash investments stood at $24.6 million as of September 30, 2025[7, 51, 53] - Shareholders' equity was $31.1 million as of September 30, 2025[7, 51, 53] - Cash flow from operating activities for the LTM to Q3 2025 was $0.8 million[7] Market & Strategy - The Total Addressable Market (TAM) for Data Collection is estimated at $17.1 billion[7, 27] - The Data Collection & Labeling market is projected to grow at a CAGR of 28.4%, reaching $17.1 billion by 2030[27] - The company is transitioning to become a leading data enabler for AI, focusing on data collection solutions[9, 11] - Alarum is investing in infrastructure and strategic partnerships to capitalize on market opportunities in AI and e-commerce[9, 12]

Core Insights - Alarum Technologies Ltd. reported significant financial growth in Q3 2025, with revenues reaching $13.0 million, an 81% increase year-over-year, and a net profit of $0.1 million [2][11] - The company is focusing on long-term market leadership in the AI training-data sector, prioritizing infrastructure investments over short-term profitability [2][6] - Strategic investments are expected to pressure gross margins and EBITDA in the near term but are aimed at positioning the company for substantial growth and margin improvement [2][6] Financial Performance - Q3 2025 revenues were $13.0 million, up from $7.2 million in Q3 2024, while total revenues for the first nine months of 2025 were $28.9 million, an 18% increase from $24.5 million in the same period of 2024 [11][10] - Gross profit for Q3 2025 was $7.2 million, compared to $5.2 million in Q3 2024, with a gross margin of 55.6% [10][16] - Adjusted EBITDA for Q3 2025 was $1.2 million, down from $1.4 million in Q3 2024, reflecting increased operating expenses due to infrastructure investments [10][16] Customer and Market Dynamics - The company experienced a 26% increase in paying customers and a 17% rise in average revenue per customer in Q3 2025 [4][8] - New AI-focused products, including DataSets and custom Scrapers, are becoming significant revenue contributors, with triple-digit growth in some areas [8][11] - Alarum's strategic decision to expand capacity and enhance infrastructure is aimed at capturing the growing demand from AI labs and enterprises [5][6] Financial Outlook - For Q4 2025, Alarum anticipates revenues of approximately $12 million, a 63% increase year-over-year, with Adjusted EBITDA expected to be around $1 million [9] - The company expects smoother and more predictable revenue growth patterns as AI models transition into production and fine-tuning cycles [9][11] Balance Sheet and Equity - As of September 30, 2025, Alarum had a robust balance sheet with $24.6 million in cash and no debt, and shareholders' equity increased to $31.1 million from $26.4 million at the end of 2024 [8][16]

Core Insights - Alarum Technologies Ltd. reported Q2 2025 revenues of $8.8 million, a slight decrease from $8.9 million in Q2 2024, with a net profit of $0.3 million and Adjusted EBITDA of $1.0 million [1][9][13] Business Highlights - The company is experiencing strong demand for data from major global players in the AI segment, leading to expanded collaborations with significant AI and e-commerce companies [2][3] - Alarum is investing in infrastructure and operations to support market demand while maintaining operational efficiency [4] - The company anticipates substantial revenue growth in Q3 2025, driven by a new large-scale AI data project expected to contribute approximately $3 million [5][15][16] Financial Performance - For the first half of 2025, total revenue was $15.9 million, down from $17.3 million in H1 2024, primarily due to reduced consumption from large customers [9] - Gross profit for Q2 2025 was $5.4 million, compared to $6.8 million in Q2 2024, with operating expenses increasing to $5.4 million from $4.2 million [11][12] - As of June 30, 2025, shareholders' equity increased to $29.1 million from $26.4 million at the end of 2024 [14] Market Dynamics - The AI market is undergoing significant transformation, with many companies still defining their business models, which may lead to fluctuations in demand for Alarum's services [5][22] - The company is witnessing a shift in customer segments, with strong growth in the AI vertical, while other segments are declining, resulting in a Net Retention Rate of 0.98 [7][29] Future Outlook - The company expects Q3 2025 revenues to be approximately $12.8 million, representing a 78% year-over-year increase, with Adjusted EBITDA projected at around $1.1 million [15] - Alarum's strategic collaborations with major technology players are seen as a significant step to strengthen its position in the AI data collection market [17]

Core Insights - The company reported a revenue of $7.1 million for Q1 2025, aligning with guidance, while net profit was $0.4 million and adjusted EBITDA reached $1.3 million, exceeding expectations [1][12] - The demand for scalable, high-quality data is accelerating, driven by the growth of AI technologies and eCommerce platforms [2][8] - The company is strategically investing in scalable infrastructure and next-gen technologies to meet rising demand for AI-ready data [1][3] Financial Performance - Q1 2025 revenue decreased by 15% year-over-year from $8.4 million in Q1 2024 [13] - Gross profit for Q1 2025 was $4.8 million, with a gross margin of 67.5%, down from 78.5% in Q1 2024 [9][13] - Total operating expenses increased to $4.5 million in Q1 2025 from $4.0 million in Q1 2024, primarily due to higher research and development costs [13] Market Position and Strategy - The company expanded strategic partnerships with major AI and eCommerce players, including a top Asian marketplace and a European AI firm, for large-scale data labeling and model fine-tuning [8] - Alarum is positioned to play a key role in the emerging market for high-quality, scalable data infrastructure, essential for AI model training [8][29] - The company aims to build a robust data access backbone for the AI era, focusing on long-term value delivery for stakeholders [4][8] Future Outlook - The company anticipates Q2 2025 revenues to be around $7.9 million, with adjusted EBITDA expected between $0.5 million and $0.8 million [12] - The net retention rate (NRR) reached 1.13 as of March 31, 2025, indicating strong customer revenue growth [8][25] - Early results from strategic investments and positive pipeline visibility support an optimistic outlook for the second quarter of 2025 [8][12]

Financial Data and Key Metrics Changes - Annual revenue reached a record high of $31.8 million, a 20% increase from 2023, with 97% attributed to data collection [9][22] - Adjusted EBITDA for 2024 was a record $9.4 million, up from $5.2 million in 2023 [9][27] - Non-IFRS gross margin for the full year 2024 grew to 77% from 74.3% in 2023 [23] - IFRS net profit for 2024 increased to $5.8 million from a net loss of $5.6 million in 2023 [26] Business Line Data and Key Metrics Changes - Data collection revenue for Q4 2024 was $7.2 million, a 6.8% increase from Q4 2023 [22] - Data collection revenue for the full year 2024 reached $30.9 million, up 45.2% from $21.3 million in 2023 [22] Market Data and Key Metrics Changes - The data collection segment accounted for 97% of total revenues in both quarterly and annual metrics, up from 80% in 2023 [22] - The company experienced volatility in demand due to competition between AI platforms and traditional websites [12][39] Company Strategy and Development Direction - The company has fully executed its strategic vision to focus solely on data collection, phasing out other activities [8] - Investments were made to expand the IP network and enhance infrastructure to support massive data traffic [14] - The company aims to be a data enabler for AI-driven companies, positioning itself for long-term growth [17][33] Management's Comments on Operating Environment and Future Outlook - Management highlighted a "once in a generation inflection point" due to the AI revolution reshaping the data landscape [14] - The company is navigating a period of adjustment as the industry evolves, with short-term revenue growth expected to be lower [30] - Management emphasized the importance of patience and a long-term approach to capitalize on future opportunities [18] Other Important Information - The company recorded financial income of $300,000 for the full year 2024, compared to a financial expense of $300,000 in 2023 [25] - Shareholders' equity doubled to a record of $26.4 million from $13.2 million on December 31, 2023 [28] Q&A Session Summary Question: Can you describe the period of adjustment as the industry evolves? - Management noted that large companies are approaching them for cooperation, indicating a shift in strategy due to competition between AI platforms and websites [38][39] Question: Is the decline in net retention rate related to customer usage? - Management confirmed that the decline in net retention rate is indeed related to customer usage fluctuations as they reevaluate their strategies [45][46] Question: How has the engagement with a Fortune 200 company evolved? - The company reported increased usage from the Fortune 200 customer, with an annual run rate exceeding $500,000 [48] Question: What is the opportunity with large customers in the future? - Management sees significant potential for both regular and strategic customers, especially those aiming to become major players in AI [51][52] Question: What are the plans for new product launches versus M&A? - The company is focusing on internal development for new products but remains open to acquisitions if unique opportunities arise [57][60]