Questback Achieves Impressive Growth in Key Operational Metrics in H1 2023

05 Sep 2023 08:00 CEST

Oslo, Norway, September 05, 2023

Questback Group AS, a leading provider of CX and EX solutions, is delighted to
announce substantial growth in key operational metrics for the first half of
2023, reaffirming its unwavering commitment to excellence and customer
satisfaction.

The company is pleased to report the following achievements:

Year-over-Year ARR Growth of +8%: As of the end of Q2 2023, Questback recorded a
robust year-over-year Annual Recurring Revenue (ARR) growth of +8%, underscoring
the enduring strength and resilience of its business model.

Remarkable Sales Growth to New Customers: In the first half of 2023, the team
achieved an astonishing +116% increase in sales to new customers compared to the
same period last year. This remarkable growth underscores the company's prowess
in attracting and serving an expanding customer base.

Robust Growth in Total New ARR: Questback achieved a substantial +21% growth in
total new ARR during H1 2023, encompassing ARR growth for both new customers and
existing customers. This growth reflects the company's steadfast commitment to
delivering exceptional value across its entire customer portfolio.

Strong Net Retention Rate: The company maintained a robust Net Retention Rate of
101% during H1 2023, a testament to its ability not only to retain its existing
customer base but also to nurture and expand those valuable relationships. This
achievement underscores the trust and satisfaction customers place in our
products and services.

"Our strong focus on execution and our commitment to customer-centricity,
delivered through the industry's best professionals, have enabled us to reach
these remarkable milestones. We eagerly anticipate the future and remain
committed to exceeding our customers' expectations." said Saeid Mirzaie, CEO at
Questback Group.

The full trading update is attached.

Note: All numbers are calculated using constant currency exchange rates based on
the average rates of the FY 2022 to exclude any effects of currency exchange
rate fluctuations, and they are excluding sales and revenue from reseller and
brokerage agreements.

Questback is a leading provider of SaaS solutions for employee and customer
feedback. The company was founded in 2000 and was listed in August 2021 on the
Euronext Growth exchange in Oslo. Find out more about Questback at
Questback.com.

For further queries, please contact:
Saeid Mirzaie
Chief Executive Officer
Ph. +46 733 414407
Email: saeid.mirzaie@questback.com


Cautionary note regarding forward-looking statements This communication may
contain certain forward-looking statements relating to the business, financial
performance and results of the Company and/or the industry in which it operates.
Forward-looking statements concern future circumstances and results and other
statements that are not historical facts, sometimes identified by the words
"believes", "expects", "predicts", "intends", "projects", "plans", "estimates",
"aims", "foresees", "anticipates", "targets", and similar expressions. Any such
forward-looking statements are solely opinions and forecasts reflecting views as
of the date set out on the cover of these materials, which are subject to risks,
uncertainties and other factors that may cause actual events to differ
materially from any anticipated development, including the risk factors set
forth in the Information Document prepared by the Company in connection with the
Listing, available at https://newsweb.oslobors.no/message/540413 under the
heading “Vedlegg”. No liability for such statements, or any obligation to update
any such statements or to conform such statements to actual results, is assumed.
Furthermore, information about past performance given in this communication is
given for illustrative purposes only and should not be relied upon as, and is
not, an indication of future performance.

More information:
Access the news on Oslo Bors NewsWeb site

598742_Questback 2023 H1 Trading Update.pdf