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Nepa loses major global brand tracking contract

MAR

Nepa announces that Sweden's and one of the world's largest fashion and design companies, a long-term client and the company's biggest account, has decided to change its global brand tracking supplier after a formal Request for Proposal (RFP) process. The current tracking agreement is worth approximately 16.5 MSEK of Annual Recurring Revenue (ARR) with a gross margin of circa 55%, and expires in mid-Q1 2025. Nepa will immediately initiate and implement cost reduction measures to mitigate the negative financial impact on next year’s results.

“We deeply appreciate the long-standing relationship we have built with the client. Nepa has been their trusted tracking partner for over a decade, and after some internal reorganization on their end, they wanted a fresh restart which is more easily achieved with a new supplier. Although we are disappointed by their decision, we respect their choice and remain committed to continue deliver our other insight solutions to them. In the short term, we will concentrate on minimizing the negative financial impact by implementing necessary cost reductions while maintaining our positive momentum in sales and marketing efforts. We are confident in our strategic direction and our ability to swiftly adapt to this challenging situation,” says Anders Dahl, CEO.

For more information, please contact:
Edvard Hagman, Investor Relations, ir@nepa.com

About Nepa
Nepa, a leader in Brand Experience and Marketing Optimization, helps some of the world’s most reputable brands drive growth through data. This is achieved by combining first-class research, cutting-edge technology, deep expertise, and innovative solutions. Headquartered in Stockholm, Sweden, with offices in Norway, Finland, Denmark, UK, USA and India, the company is listed on the Nasdaq First North Growth Market and has been publicly traded since 2016.

Redeye AB is Nepa’s Certified Adviser. Full contact details are available at nepa.com/investor-relations.

This information is information that Nepa is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-09-17 14:17 CEST.

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Nepa loses major global brand tracking contract

Datum 2024-09-17, kl 14:17
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Nepa loses major global brand tracking contract
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