Growens overview and latest results

Strategic Refocus and Portfolio Optimization:
In 2023, Growens completed major divestments, selling its MailUp business and associated units for €76.7 million and divesting Datatrics for €1.6 million. This derisked the group’s position, generated significant cash, and allowed a sharper focus on Beefree as the core growth driver.

Growth and International Expansion:
The company achieved strong internationalization, with revenues from outside Italy growing from 10% to 80% since IPO, now serving around 10,000 clients (plus over 1 million free users) in more than 115 countries, and employing 160 staff across two continents.

Business Unit Performance – Focus on Beefree and Agile Telecom:
Beefree saw a 35% three-year CAGR, positioning itself as a global leader in no-code email and landing page design, with 9,000+ clients and a rapidly growing ARR (annual recurring revenue) of $12.6M in 2023. Agile Telecom maintained its #1 market share in Italy for A2P messaging with ~2B SMS/year, but faced a 6% YoY revenue decline.

Strong Cash Position and Shareholder Returns:
Following the divestments, Growens ended 2023 with a robust cash position and launched both a voluntary partial tender offer and its first-ever dividend (€1.58 per share, €20M total), delivering significant liquidity and value back to shareholders.