Shape Robotics receives major order and raises the guidance for 2023

Company Announcement no. 28-23
Copenhagen, June 8, 2023

The announcement contains inside information

Shape Robotics and Network One Distribution (NOD) has agreed to significantly increase the existing framework agreement between the parties. The agreement spans over the next 18 months and is valued at 30 million euros (approx. DKK 223 million) as minimum total purchases in the time span. This agreement will be translated into a series of purchase orders throughout 2023 and 2024, with the initial deliveries expected to amount to 3 million euros in June (equivalent to DKK 22 million). The framework agreement alone is expected to capture a significant part of Shape Robotics' projected revenue and results for 2023. As a result, the Board of Directors has decided to revise the guidance, increasing it by DKK 15 million to a range of DKK 145-155 million. Furthermore, the EBITDA expectations (before one-off costs) have been raised from DKK 3-5 million to a range of DKK 4-6 million.

Updated 2023 guidance

The framework agreement with the Romanian distribution giant NOD includes a wide range of Shape Robotics solutions (including own products and products derived from strategic alliances with Samsung, Lenovo, Microsoft plus other partners) and services, mainly for public acquisitions in Component C 15: Education of PNRR, of which “SmartLabs” are included.

"We are now in a situation where our confirmed orders and pipeline, including other growth areas, far exceed our revenue expectations for the entire year. However, the framework agreement with NOD and our final revenue stemming from it will depend on how much we deliver in 2023. Therefore, today we cautiously raise our guidance by 15 million kr. We now need to deliver 15-20 million kr. every month, doubling our activity level. Bottlenecks and delays may arise, and this framework agreement will test our organization's capacity and the strength of our partnerships. However, we have been preparing to execute on a potentially historically large order for months. Over the past years, we have repeatedly demonstrated our ability to scale up and grow with the task at hand. The NOD order is a concrete sign that the market believes Shape Robotics is ready to take on greater responsibility in the digital transformation of education systems worldwide," says CEO André Fehrn.

Additional information and investor relations
André Fehrn, CEO Shape Robotics A/S
Tlf.  (+45) 2444 8556
Email: ir@shaperobotics.com
Rugmarken 18, 3520 Farum, Denmark
CVR-nr. 38322656
www.shaperobotics.com

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Grant Thornton