CVCHECK – Q3 FLASH – REVENUE RECORDS, BRIGHT UPDATE

•  A record $4.2m revenue was booked in Q3FY21 (26% up on PCP), $3.2m from B2B and $1.0m B2C
•  A record $11.1m ARR was booked for the 12 months ended 31 March 2021
•  A record month of $1.65m revenue was booked in March
•  Integrations revenue of $0.5m is 231% up on PCP and up 152% for the 9-months to end March
•  Strong balance sheet, cash at bank $14.8m as at end March and no external financing
•  Bright People Technologies acquisition approved at General Meeting on 31 March

Disc:I hold

CVCheck – best sales on record, Bright acquisition on schedule

Highlights

•  Strong trading conditions during February resulted in a new all-time record month of sales and the 12-month booked ARR
•  New wins and order strength from pre-existing customers are driving strong sales growth
•  March sales continue strong
•  Bright People Technologies acquisition on schedule to close in April

Disc: I hold

CV1 to acquire Bright People Technologies and completes $10.5 million placement to institutional and sophisticated investors

Highlights

~ CV1 to acquire Bright People Technologies (“Bright”), a cloud-based workforce credentials and compliance software company, operating under a Software as a Service (“SaaS”) business model

~ Acquisition Enterprise Value of $15.3m1 , with $12.0m in scrip issued at completion and to be held in voluntary escrow until 31 December 2022

~ The combination of CV1 and Bright will create a credentials-based workforce management capability built on Bright’s workforce compliance strength and the CVCheck platform’s highly automated verification workflows and HRIS integrations

~ In FY202 , Bright generated revenues of $4.9m, 85% gross margin and EBITDA of $1.7m

~ Bright’s clients include BHP, Roy Hill, Woodside, Atlas Iron, WaterCorp and the NT Government

~ Bright’s Chairman and largest shareholder, Mr Jon Birman, will be appointed to the CV1 board as a Non-Executive Director and Bright Executives, Petra Nelson and Declan Hoare, will join the CV1 Executive Management Team

~ The transaction is conditional on CV1 shareholder approval, certain conditions precedent and customary closing conditions

~ CV1’s largest shareholder, the Carolan Family (~16%3 ), have given a statement that they currently intend to vote in favour of the acquisition

~ $10.5m (before costs) raised through a strongly supported share placement to institutional and sophisticated investors (“Placement”)

DISC: I hold

CVCHECK – Q2 FLASH FINANCIALS - REVENUE RECORDS, CASH POSITIVE

? A record $3.5m revenue booked in Q2FY21 (12% up on PCP), $2.7m from B2B and $0.8m B2C

? A record $7.0m revenue booked for H1FY21

? A record of over $10.2m booked ARR for the 12 months ended 31 December 2020

? Cash positive Q2, strong balance sheet with cash at bank $5.2m as at end December, no debt

DISC: I have small holding