STREAMWIDE Records Sales of €9.3 Million for the First Half of 2024

STREAMWIDE recorded sales of €9.3 million for the first half of 2024, up 10%.

The team on mission and team on the run mission-critical and business critical
communications platforms, whose first-half revenues (€7m) increased by 24%,
now account for 75% of the Group's total first-half revenues (+9 points versus first-
half 2023 and +2 points versus FY 2023). This growth (up €1.4m) is mainly due to
the many new projects validated at the end of 2023 and started up or deployed in
the first half of 2024, mainly in France, Europe and the Middle East. Several of
these projects reflect STREAMWIDE's strategy of diversifying into the corporate
market, in order to diversify its growth drivers beyond the public safety market.

As indicated at the end of 2023, technical and human investments have been
sustained for several months, to reinforce sovereignty, security, compliance with
industry standards (notably 3GPP) and the scalability of the solutions offered,
particularly in a context where workstation ergonomics will evolve significantly
and integrate Artificial Intelligence (LLM). As a result, net payroll is up by a
moderate €0.4 million compared with the first half of 2023, representing only 38%
of half-year revenues versus 37% at the end of June 2023.

Before capitalization of staff costs linked to product development (€3.4m vs.
€2.8m at June 30, 2023), the half-year payroll (€6.9m) is up €1m, mainly due to a
volume effect: 225 people were employed by the Group at the end of June 2024,
compared with 193 at the end of June 2023 and 195 at the end of December 2023.
This increase is in line with the forecasts announced at the end of 2023, and
therefore remains under control.

Other operating expenses also rose overall (up €0.4m), in direct correlation with
changes in headcount, which impacted all overheads. In addition, international
team seminars were organized during the first half of 2024, resulting in higher
travel and mission expenses (up €0.1m). There was also a rise in recruitment fees
(up €0.1m) following the various recruitments made. Other overheads will grow in
line with the number of Group employees in the first half of 2024. They represent
21% of gross payroll, compared with 20% in the first half of 2023.
Excluding depreciation and after IFRS 16 restatement of rental costs (€0.3m vs.
€0.4m in first-half 2023), operating costs came to €4.5 million vs. €3.8 million in
first-half 2023, an increase of €0.7 million.

Taking into account the increase in half-year revenues (up €0.8m), the operating
margin thus rises by €0.1 million to 51% from 55% in the first half of 2023.