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Net Insight has completed a buyback program of SEK 50 million

Net Insight AB has repurchased a total of 10,693,000 of its own Series B shares for a total amount of SEK 50 million during the period June 7, 2023 to February 28, 2024 under the buyback program decided by the Board in accordance with the mandate given by the Annual General Meeting on May 12, 2023. The buyback program is thereby concluded.

The buyback program was announced on June 2, 2023, and included repurchases of up to SEK 50 million. The purpose of the repurchases is to provide flexibility regarding the company's capital structure and to enable the company to distribute capital to its shareholders.

Nordea Bank Abp has been engaged to execute the buyback program. Nordea Bank has decided on the repurchases and their timing based on irrevocable instructions and with complete independence.

At the time of this press release, the number of outstanding shares in the company amounted to 1,000,000 A-shares and 358,038,009 B-shares, totaling 359,038,009 shares. Net Insight AB's holding of own shares amounts to 10,795,000 B-shares as of February 28, 2024.

For further information, please contact:
Joakim Schedvins, CFO, +46 8 685 04 00, joakim.schedvins@netinsight.net

About Net Insight

Net Insight (Nasdaq: NETI B) provides the highest performing, most open video transport and media cloud technology for content providers as the industry standard for flexibility and service across live contribution, distribution and remote production media workflows. 

For over 25 years, the world's leading content owners, broadcasters, production companies, service providers and enterprises have trusted Net Insight's Emmy® Award winning Nimbra technology to guarantee media delivery. Today, Net Insight partners with hundreds of customers in over 70 countries to ensure media flows across managed and unmanaged IP networks, and the cloud – from anywhere, to everywhere. It enables customers to get the best from any mix of virtualized, cloud and IP technology and is the only platform to support all the major industry standards, protocols and clouds.

For more information, please visit netinsight.net

Follow us: LinkedIn: linkedin.com/company/net-insight/ X: twitter.com/NetInsight

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Net Insight has completed a buyback program of SEK 50 million

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Net Insight Year-end Report January – December 2023

Record quarter concludes 2023

The fourth quarter was the strongest in the company's history. Revenue in the fourth quarter amounted to SEK 162.5 million, which is an increase of 30.0% compared to the same period the previous year (currency-adjusted 27.2%). Revenue for the full year 2023 amounted to SEK 559.4 million, an increase of 17.7% year-on-year, surpassing our long-term goal of average growth above 15%.

The long-term trend of improved growth and profitability is a result of many strategic initiatives, where two important components are a stronger product portfolio and expanded expertise, focusing on the growth areas of IP and cloud. Key advancements within time synchronization included product launch, a new framework agreement with Teracom, and the initiation of standardization for our synchronization technology. We are proud to announce the commercial launch of our new time synchronization solution, Zyntai. The orderbook increased from SEK 180 million to SEK 195 million in the quarter.

Crister Fritzson, CEO Net Insight

October – December 2023

• Net sales amounted to SEK 162.5 (125.0) million, an increase of 30.0% year-on-year. In comparable currencies net sales increased by 27.2%.
• Operating earnings amounted to SEK 29.4 (13.2) million, corresponding to an operating margin of 18.1% (10.6%). Excluding foreign exchange rate differences of SEK -0.1 (-2.7) million, operating earnings were SEK 29.5 (15.9) million.
• Net income for the period was SEK 22.6 (9.9) million.
• Earnings per share diluted was SEK 0.06 (0.03).
• Total cash was SEK 4.2 (14.0) million. Excluding the cash impact from share-related transactions, the cash flow was SEK 17.5 (37.5) million.

January – December 2023

• Net sales amounted to SEK 559.4 (475.1) million, an increase of 17.7% year-on-year. In comparable currencies net sales increased by 12.4%.
• Operating earnings amounted to SEK 70.9 (60.5) million, corresponding to an operating margin of 12.7% (12.7%). Excluding foreign exchange rate differences of SEK -5.0 (-1.9) million, operating earnings were SEK 75.9 (62.4) million.
• Net income for the period was SEK 60.1 (54.0) million.
• Earnings per share diluted was SEK 0.17 (0.15).
• Total cash was SEK -41.7 (-47.0) million. Excluding the cash impact from share-related transactions, the cash flow was SEK 0.9 (51.3) million.

Q4 in brief

• Strongest quarter in the company's history concludes a record year
• Product launches throughout the year resulting in strong growth
• Framework agreement signed with Teracom for time synchronization of critical mobile networks
• Expanded collaboration with a major American operator in time synchronization

For the complete Year-end report, please refer to the attached PDF.

A webcast for media and the financial community will take place at 9:30 am CET on February 16, 2024
CEO Crister Fritzson and CFO Joakim Schedvins will present and comment on the Year-end report: https://ir.financialhearings.com/net-insight-q4-report-2023/register

For further information, please contact:
Crister Fritzson, CEO of Net Insight AB, +46733357001, crister.fritzson@netinsight.net

About Net Insight

Net Insight (Nasdaq: NETI B) provides the highest performing, most open video transport and media cloud technology for content providers as the industry standard for flexibility and service across live contribution, distribution and remote production media workflows. 

For over 25 years, the world's leading content owners, broadcasters, production companies, service providers and enterprises have trusted Net Insight's Emmy® Award winning Nimbra technology to guarantee media delivery. Today, Net Insight partners with hundreds of customers in over 70 countries to ensure media flows across managed and unmanaged IP networks, and the cloud – from anywhere, to everywhere. It enables customers to get the best from any mix of virtualized, cloud and IP technology and is the only platform to support all the major industry standards, protocols and clouds.

For more information, please visit netinsight.net

Follow us: LinkedIn: linkedin.com/company/net-insight Twitter: twitter.com/NetInsight

This information is information that Net Insight is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-02-16 07:30 CET.

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Net Insight Year End Report 2023

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Net Insight appoints Interim CFO

Stockholm, Sweden – Annika Muskantor will assume the role as interim Chief Financial Officer (CFO) and member of the management team on March 13, 2024.

Annika has extensive experience as a CFO in various industries, both in listed and privately owned companies, and most recently comes from Ganni AS and Oncopeptides AB.

Annika replaces Joakim Schedvins, who, as previously communicated, is leaving Net Insight during the first quarter of 2024 for a role outside the company. Annika will hold the position of CFO until a permanent replacement is in place.

For further information, please contact:
Crister Fritzson, CEO of Net Insight AB, +46 8 685 04 00, crister.fritzson@netinsight.net

About Net Insight

Net Insight (Nasdaq: NETI B) provides the highest performing, most open video transport and media cloud technology for content providers as the industry standard for flexibility and service across live contribution, distribution and remote production media workflows. 

For over 25 years, the world's leading content owners, broadcasters, production companies, service providers and enterprises have trusted Net Insight's Emmy® Award winning Nimbra technology to guarantee media delivery. Today, Net Insight partners with hundreds of customers in over 70 countries to ensure media flows across managed and unmanaged IP networks, and the cloud – from anywhere, to everywhere. It enables customers to get the best from any mix of virtualized, cloud and IP technology and is the only platform to support all the major industry standards, protocols and clouds.

For more information, please visit netinsight.net

Follow us: LinkedIn: linkedin.com/company/net-insight/ X: twitter.com/NetInsight

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Invitation to presentation of Net Insight's Year-end report 2023

Net Insight AB will publish its Year-end report January – December 2023, on February 16, 2024 at 7:30 am CET. Following this report, a webcast for the media and the financial community will take place.

CEO Crister Fritzson and CFO Joakim Schedvins will present and comment on the report. If you wish to participate via the webcast please use the link below. Via the webcast you are able to ask written questions. The presentation will be in English.

Time for the publication of the Interim report
Friday February 16 at 07:30 am CET.

Time for webcast
Friday February 16 at 09:30 am CET.

Web presentation
https://ir.financialhearings.com/net-insight-q4-report-2023/register

The presentation and the Year-end report will be available on netinsight.net after publication.

Welcome!
Crister Fritzson
CEO

For further information, please contact:
Crister Fritzson, CEO of Net Insight AB, +46 8 685 04 00, crister.fritzson@netinsight.net

About Net Insight

Net Insight (Nasdaq: NETI B) provides the highest performing, most open video transport and media cloud technology for content providers as the industry standard for flexibility and service across live contribution, distribution and remote production media workflows. 

For over 25 years, the world's leading content owners, broadcasters, production companies, service providers and enterprises have trusted Net Insight's Emmy® Award winning Nimbra technology to guarantee media delivery. Today, Net Insight partners with hundreds of customers in over 70 countries to ensure media flows across managed and unmanaged IP networks, and the cloud – from anywhere, to everywhere. It enables customers to get the best from any mix of virtualized, cloud and IP technology and is the only platform to support all the major industry standards, protocols and clouds.

For more information, please visit netinsight.net

Follow us: LinkedIn: linkedin.com/company/net-insight/ X: twitter.com/NetInsight

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Invitation to presentation of Net Insight's Year-end report 2023

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