Kvartalsrapport Q1 2026

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===== SIDA 1 =====

Americas and voice are drivers of another solid quarter 
January - March 2026 
 Net sales amounted to SEK 6,493m (7,049), an organic 
increase of 3 percent. Currency effects had a negative impact 
of 11 percent. 
 Gross profit amounted to SEK 2,214m (2,408), an organic 
increase of 5 percent. Currency effects had a negative impact 
of 13 percent.  
 EBITDA amounted to SEK 792m (740), an organic increase of 
18 percent. Currency effects had a negative impact of 11 
percent.  
 Adjusted EBITDA amounted to SEK 822m (889), an organic 
increase of 10 percent. Currency effects had a negative impact 
of 18 percent.  
 Extraordinary General Meeting resolved to cancel 74,211,294 
shares, corresponding to 8.8 percent of issued shares. 
 Following the EGM, the Board continued buybacks, with a 
mandate to repurchase up to 10 percent of outstanding shares. 
 Sinch repurchased 64m shares for SEK 1,553m, holding 6.7 
percent of issued shares on March 31.  
Key operational highlights 
 Sinch announced a strategic partnership with Lovable to power 
communications for AI-native applications. 
 Sinch launched Agentic Conversations, enabling enterprises to 
deploy AI-driven customer engagement across global 
communications channels. 
 Sinch launched Voice Relay, enabling AI agents to interact 
directly in live phone calls. 
 Juniper Research named Sinch Platinum Winner for RCS 
Monetization. 
Significant events after the end of Q1 
 Sinch appointed Jonathan Bean as Executive Vice President, 
EMEA & Global Partnerships. 
 Sinch was named leader in the IDC MarketScape for 
Communications Engagement Platforms.
 
For definitions of financial and operational measurements, please refer to page 19. 
Sinch Group, SEKm 2026 2025ΔNet sales 6,493 7,049 -556 3%Gross profit 2,214 2,408 -193 5%Gross margin 34.1% 34.2% -0.1 ppEBITDA 792 740 51 18%EBITDA margin 12.2% 10.5% 1.7 ppAdjusted EBITDA 822 889 -67 10%Adjusted EBITDA margin 12.7% 12.6% 0.1 ppAdjusted EBITDA R12M per share outstanding, SEK 5.00       4.36       0.64Operational EBITA 681 749 -68Operational EBITA margin 10.5% 10.6% -0.1 ppEBIT 250 124 126EBIT margin 3.8% 1.8% 2.1 ppProfit or loss for the period 104 -47 152Basic & diluted earnings per share, SEK 0.14 -0.06 0.19Free cash flow 375 -104 479Net debt 7,737 5,887 1,850Net debt/adjusted EBITDA R12M, multiple 2.0 1.4 0.6Cash Conversion R12M, % 54% 50% 4 ppAverage number of employees including consultants 4,005 4,099 -94
Q1Organic growth 
 
 
 
 
Q1 2026 
 
 
Interim Report

===== SIDA 2 =====

Sinch Interim Report Q1 2026 Page 2 of 20 
C O M ME N T S F RO M T H E  CE O 
Americas and voice are drivers of another solid quarter 
I am pleased to report on a solid start to 2026, building on last 
year’s momentum with organic gross profit growth and strong 
profitability. In the quarter, we delivered 3 percent organic revenue 
growth, 5 percent organic gross profit growth and 10 percent 
organic adjusted EBITDA growth. This performance reflects our 
disciplined execution, and combined with a solid balance sheet, 
which has enabled us to repurchase 15 percent of outstanding 
shares since July 2025, this provides a meaningful contribution to 
the increase in adjusted EBITDA per share. 
Another quarter in the right direction  
I am particularly pleased with our development in the Americas, 
which delivered 7 percent organic revenue growth and 10 percent 
organic gross profit growth, driven by broad-based strength 
across all product categories and channels. In particular, Voice 
contributed strongly to margin improvements by gradually shifting 
network transmission to IP technology. The strength and 
competitiveness of our innovative voice offering is further 
evidenced by several large contract wins during the quarter, 
including with clients in tech and financial services. These 
contracts will meaningfully contribute to continued organic growth 
during the year.  
In EMEA, our Applications business delivered solid growth, driven 
by increasing volumes and a favorable product mix. This 
underlying strength was offset by the reduction of fixed-price 
contracts with operators, leading to a 1 percent decline in organic 
gross profit for the region. After the end of the quarter, Jonathan 
Bean was appointed Executive Vice President for EMEA, tasked 
with returning the region back to growth.  
In APAC, we faced a 10 percent decline in organic gross profit 
mainly due to a provision for a customer dispute and competitive 
pressure in India. However, our Applications business in the region 
supported underlying growth in both volumes and revenue. While 
the year-over-year drop in India is visible, the remaining downside 
on a Group level is limited, as India only represents a low single 
digit percentage of group gross profit. 
The path ahead: the foundational infrastructure for an AI-driven 
world 
Our industry is experiencing a profound shift, with Artificial 
Intelligence rapidly reshaping how communication services are 
developed and utilized, and messaging emerging as a primary 
channel for customer engagement. However, while the enterprise 
landscape races to deploy AI, many hit a wall trying to make these 
models work globally across different channels, regions, and 
regulatory environments. In this evolving landscape, Sinch is at the 
forefront. Our global communications platform, built on our robust 
network assets, empowers enterprises to integrate messaging, 
email and voice - increasingly enhanced with AI solutions – into 
their applications. As AI-driven interactions grow, the demand for 
reliability, security and global reach intensifies, solidifying Sinch’s 
central role as the foundational infrastructure powering this 
transformation.  
Sinch plays an essential role in providing the trusted global 
communications infrastructure that enables enterprises and AI 
agents to securely connect with customers worldwide. We remove 
complexity, ensuring every interaction reaches the intended 
recipient, precisely when and where it’s needed. Upholding the 
highest industry standards, we actively combat fraud and illegal 
traffic, collaborating closely with our customers, partners and 
regulators to ensure a trusted and reliable communication 
ecosystem. 
To accelerate the shift towards AI supported communications, we 
launched two major innovations this quarter helping our customers 
deliver seamless conversational experiences. Voice Relay connects 
AI agents directly to live phone calls, while Agentic 
Conversations enables enterprises to deploy and scale AI agents 
across messaging, voice and email. These launches, combined with 
our strategic AI partnerships and deep execution capabilities for 
developers, strengthen Sinch’s position as the trusted 
infrastructure for the future of AI-driven engagement. 
We continue to execute against our mid-term strategic objectives, 
with a focus on enterprise expansion, self-serve capabilities, email 
and conversational messaging and our partner ecosystem. Our 
leadership in the latter was recently highlighted when Sinch was 
named “Adobe Customer Experience Orchestration Technology 
Partner of the Year”. Sinch was also named leader in the IDC 
MarketScape for Communications Engagement Platforms. 
Looking ahead, despite the uncertain macroeconomic outlook, we 
remain positive about the development for the full year and our 
progression towards our financial targets. 
 
Stockholm, May 7, 2026 
Laurinda Pang 
CEO

===== SIDA 3 =====

Sinch Interim Report Q1 2026 Page 3 of 20 
About Sinch 
Our vision is to connect every business with every customer, everywhere in the world.  
With the industry’s most trusted foundation for intelligent customer 
communications, Sinch powers over 900 billion interactions 
annually for more than 200,000 customers across the globe. 
Leading global companies, including AI innovators, rely on Sinch to 
strengthen customer relationships and deliver seamless 
experiences across messaging, voice and email. Sinch’s global 
customer communication platform enables businesses to connect 
with customers wherever they are in the world. The platform is 
built on infrastructure that Sinch owns and operates, including 
direct carrier connections for messaging, a global voice network 
and deep relationships with internet service providers for email 
delivery. Businesses use Sinch to reach customers across a broad 
range of channels from SMS and WhatsApp to voice and email 
with fast, safe and reliable delivery. As AI agents increasingly drive 
customer interactions, Sinch provides the open, flexible 
infrastructure they need to operate across these channels at scale. 
Profitable since its founding in 2008, Sinch has over 4,000 
employees in 59 countries, with headquarters in Stockholm. 
Sinch is listed on Nasdaq Stockholm (XSTO: SINCH). Visit us at 
sinch.com. 
 
     
 Regions 
Sinch’s business is structured in three geographical regions, 
which make up the business operating segments: Americas, 
EMEA and APAC. 
Product categories 
As a complement to the operating segments, Sinch’s products 
are divided into three product categories: Applications, API 
Platform and Network Connectivity. 
    Gross profit 2025, by regions and product categories 
 
 
     
 Applications  
Our Applications suite provides 
marketing and customer service teams 
with ready-to-use tools to run 
campaigns, manage customer 
conversations and operate contact 
centers without technical expertise. As 
usage patterns evolve toward more 
modular and agent-driven workflows, we 
are enhancing our applications with 
conversational interfaces and investing 
in components that can be easily 
consumed by other platforms and AI 
agents. 
 API Platform 
Our API Platform is our flagship offering, 
providing enterprises with instant 
access to messaging, voice, email and 
verification services through a global, 
reliable and compliant communications 
platform. Built through years of 
strategic M&A and trusted by many of 
the world’s largest companies, we 
continue to invest in conversational 
messaging, improved developer and AI 
agent experience and deeper SaaS and 
AI-native integrations to embed 
communications seamlessly into 
customers’ workflows. 
 Network Connectivity 
Our Network Connectivity offering 
provides telecom operators and CSPs 
with services and software to connect 
directly to our global network. Our Super 
Network connects to more than 600 
operators worldwide, giving us end-to-
end control of message delivery and 
enabling higher quality, lower latency, 
strong security and compliance as data 
sovereignty regulations tighten. 
 
       
 14%32%47% 57%57%52% 29%11%1% Americas 63%EMEA 22% APAC 15%ApplicationsAPI platformNetwork Connectivity
Mid-term financial targets to reach by year-end 2027 
Organic growth in net sales and gross 
profit of 7-9 percent year-on-year. 
 Adjusted EBITDA margin of  
12-14 percent. 
 Net debt over time shall be below 2.5 
times Adjusted EBITDA (measured on a 
rolling twelve-month basis) 
  
 
  
 
 
8,8109,542 9,685 9,426 9,233-33245-21112022 2023 2024 2025 Q1 26Gross profit R12MOrg. gross profit growth, %Org. net sales growth, %3,1243,637 3,586 3,605 3,53811.312.712.513.313.32022 2023 2024 2025 Q1 26Adj. EBITDA R12MAdj. EBITDA margin, %2.72.01.51.62.02022 2023 2024 2025 Q1 26Net debt/adjusted EBITDA R12M

===== SIDA 4 =====

Sinch Interim Report Q1 2026 Page 4 of 20 
Sinch overview 
Quarterly summary 
 
 
Adjusted EBITDA R12M per share outstanding, SEK   
 
 
To measure long-term value 
creation, the Board of Directors 
of Sinch uses multiple metrics. 
From Q1 2026, the 
measurement of Free cashflow 
per share is complemented by 
Adjusted EBITDA R12M per 
share outstanding. The chart 
shows this development over 
time.  
For more information see note 
3 and definitions. 
 
Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1SEKm202620252025202520252024202420242024Net sales 6,493 6,756 6,659 6,616 7,049 7,729 7,150 7,041 6,792Americas 4,230 4,195 4,199 4,155 4,431 4,849 4,554 4,460 4,247EMEA 1,475 1,668 1,542 1,572 1,668 1,838 1,641 1,610 1,551APAC 788 894 918 888 949 1,043 955 971 995Gross profit 2,214 2,378 2,318 2,322 2,408 2,582 2,406 2,386 2,312Americas 1,433 1,495 1,468 1,443 1,509 1,583 1,482 1,490 1,443EMEA 478 531 499 516 518 574 536 505 504APAC 303 352 351 363 380 425 388 391 364Gross margin 34% 35% 35% 35% 34% 33% 34% 34% 34%Americas 34% 36% 35% 35% 34% 33% 33% 33% 34%EMEA 32% 32% 32% 33% 31% 31% 33% 31% 33%APAC 38% 39% 38% 41% 40% 41% 41% 40% 37%EBITDA 792 845 851 760 740 307 799 792 768EBITDA margin 12% 13% 13% 11% 11% 4% 11% 11% 11%Adjusted EBITDA 822 933 915 869 889 1,003 923 867 7944.26 4.274.244.254.36 4.364.494.675.00Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Gross profit change – Regions  Gross profit change – Products 
 
 
 
2,408157-5-37-3082,214Q12025Americas EMEA APAC Currency Q12026
Organic5%Currency-13%2,40815299-3082,214Q12025Applications APIPlatformNetworkConnectivityCurrency Q12026
Organic5%Currency-13%

===== SIDA 5 =====

Sinch Interim Report Q1 2026 Page 5 of 20 
January - March 
Sinch’s operating segments are three regions consisting of Americas, EMEA, and APAC. In addition to the operating 
segments, a complementary view with three product categories, Applications, API Platform, and Network Connectivity, is 
also presented.   
 
Net sales by segment and product category 
 
Gross profit by segment and product category 
 
 
Net sales 
Net sales amounted to SEK 6,493m (7,049) and increased 
organically by 3 percent YoY. Regionally, Americas provided a 
positive contribution to organic growth driven by strong growth in 
API platform. EMEA and APAC declined, impacted by the reduction 
of fixed fee operator contracts and decline in the Indian SMS 
business. All product categories contributed to organic net sales 
growth.  
Currency effects had a negative impact of 11 percent, 
corresponding to SEK -759m. 
Gross profit 
Gross profit was SEK 2,214m (2,408) and increased organically 
by 5 percent YoY. Americas delivered strong organic gross profit 
growth, mainly driven by the voice business where primarily 
network cost savings expanded margins. Americas further 
delivered solid growth in API platform, driven by an expanding and 
more diverse customer base, particularly in email and messaging. 
This strong performance offset declines in EMEA and APAC. 
Currency effects had a negative impact of 13 percent, 
corresponding to SEK -308m.   
The gross margin was 34.1 percent (34.2) for the quarter. The 
positive margin development in Network Connectivity and the 
stability in Applications was offset by a decrease in API Platform. 
This decrease in API was primarily caused by a one-off revenue 
adjustment in APAC and slightly lower margins in the Americas 
messaging business.   
Opex amounted to SEK 1,423m (1,667), corresponding to an 
organic decrease by 1 percent YoY. The completion of several 
integration projects lowered YoY integration costs which positively 
impacted Opex.  
Currency effects had a positive impact of 13 percent, 
corresponding to SEK 223m.  
Adjusted Opex, defined as the difference between gross profit and 
adjusted EBITDA, amounted to SEK 1,392m (1,519). Currency 
effects had a positive impact of 10 percent, corresponding to SEK 
150m. Adjusted Opex increased organically by 2 percent YoY, 
with savings in general and administrative functions, reinvested in 
initiatives to drive growth.  
EBITDA & EBIT 
Adjusted EBITDA amounted to SEK 822m (889). Adjusted EBITDA 
increased organically by 10 percent YoY. Currency effects had a 
negative impact of 18 percent, corresponding to SEK -158m.  
The adjusted EBITDA margin remained stable at 12.7 percent 
(12.6). 
Adjusted EBITDA was SEK 30m (149) higher than EBITDA for the 
quarter. The adjustments included transactional FX effects of SEK 
3m (-67) and transformation costs of SEK 28m (70). 
Transformation costs primarily consist of integration costs, which 
decrease on a YoY basis. See Note 3 for more information. 
EBITDA was SEK 792m (740) and increased organically by 18 
percent. Currency effects had a negative impact of 11 percent, 
corresponding to SEK -85m, which was driven by broad SEK 
appreciation in particular to USD, which is Sinch’s dominant trading 
currency.  
The consolidated EBITDA margin was 12.2 percent (10.5).  
Operational EBITA amounted to SEK 681m (749).  
EBIT amounted to SEK 250m (124). Acquisition-related 
amortization and impairments reduced EBIT by SEK -400m (-476). 
The amortization refers mainly to acquired customer relationships 
and acquired software.   
Net financial expenses were SEK -78m (-132), including net 
interest expenses of SEK -63m (-69) and foreign exchange 
differences of SEK -12m (-60).  
The Group's reported effective tax rate was 39 percent. The 
effective tax rate was impacted in Q1 2026 by an increase in 
unrecognized deferred tax assets related to interest expense 
carryforwards. Excluding this, the reported effective tax rate is 27 
percent.   
Net profit for the quarter amounted to SEK 104m (-47). 
Cash flow 
Cash flow before change in working capital amounted to SEK 
967m (619). Cash flow was impacted by tax paid of SEK 26m  
(-111) and net interest paid and received of SEK -64m (-76). The 
tax paid was impacted by refunds of previously paid preliminary 
taxes.   
SEKm Americas EMEA APAC TotalOrganic growthApplications 254 232 279 765 1%API Platform 2,824 1,122 486 4,432 3%Network Connectivity 1,152 120 24 1,296 3%Total 4,230 1,475 788 6,4933%Organic growth 7% -5% -5% 3%SEKm Americas EMEA APAC TotalOrganic growthApplications 189 162 165 516 3%API Platform 782 264 132 1,178 0%Network Connectivity 462 52 6 520 20%Total 1,433 478 303 2,2145%Organic growth 10% -1% -10% 5%

===== SIDA 6 =====

Sinch Interim Report Q1 2026 Page 6 of 20 
Cash flow from operating activities amounted to SEK 518m (60) 
and was decreased by the change in working capital of SEK 449m 
(560). Cash flow from changes in working capital was positively 
impacted as the prepayment from the cost optimization 
agreement made in 2025 began to settle as planned. Cash 
conversion R12M was 54%, well in line with the guidance of 40-
50%. The comparison quarter includes a temporary increase in 
prepaid expenses of about SEK 370m.  
Cash used in investing activities was SEK -142m (-164) and was 
affected by investments of SEK -143m (-164), consisting 
primarily of capitalized development expenditure of SEK -110m  
(-106).  
Free cash flow amounted to SEK 375m (-104) and the increase 
was mainly due to the change in cash flow from operating 
activities. Free cash flow per share R12M was 2.37 (2.15).  
Cash flow used in financing activities was SEK -370m (-216) for 
the quarter, where the change in borrowings improved net cash by 
SEK 1,183m (-183) and buybacks of treasury shares reduced 
cash flow by SEK -1,533m (0).  
Net cash flow for the quarter was SEK 6m (-319). 
Liquidity and financial position 
Consolidated cash and cash equivalents as of March 31, 2026, 
amounted to SEK 416m (719). 
Net debt amounted to SEK 7,737m (5,887) and includes IFRS 16-
related lease liabilities of SEK 665m (770). One of Sinch’s financial 
targets is that net debt over time shall be below 2.5 times adjusted 
EBITDA (measured on a rolling twelve-month basis, R12M). 
Excluding IFRS 16-related lease liabilities, net debt in relation to 
adjusted EBITDA R12M was 2.0x (1.4). This is an increase from the 
comparison period and is primarily driven by the buybacks of 
shares.  
Financial liabilities increased during the period by SEK 1,183m  
(-183) and the company’s net debt increased by SEK 1,382 m  
(-125). 
As of March 31, Sinch had total available credit facilities of SEK 
9,864m (9,508), of which the company had used SEK 5,414m 
(4,001).  
These consisted of: 
 A utilized loan of USD 100m that matures in February 2027. 
 A utilized loan of SEK 1,000m that matures in September 
2027. 
 A utilized loan of SEK 1,000m that matures in February 2028. 
 Credit facilities of SEK 6,027m that mature in July 2028, of 
which SEK 2,347m had been used as of March 31, 2026.  
 Bank overdraft facilities of SEK 886m (901), of which SEK 
115m (344) had been used as of March 31, 2026.  
In addition to these, there are senior unsecured bonds in the 
amount of SEK 500m (500) that will mature in September 2027 
and commercial paper of SEK 1,560m (1,330) that will mature in 
less than 12 months. 
In total, Sinch had unused loans, credit facilities and overdraft 
facilities of SEK 4,450m as of March 31, 2026. 
Equity 
During the quarter, 319,619 shares were issued in relation to 
employee stock options/warrants under the Group’s incentive 
programs, which resulted in an increase of SEK 5m in equity. 
Equity as of March 31, 2026, amounted to SEK 22,354m 
(26,407), corresponding to an equity ratio of 55 percent (60). 
For more information about shares see the section Share buyback 
and equity swap under Other disclosures.

===== SIDA 7 =====

Sinch Interim Report Q1 2026 Page 7 of 20 
Americas 
The Americas region is Sinch’s largest operating segment, accounting for over 60 percent of consolidated net sales and 
gross profit. The region manages customers in both North and Latin America. 
 
 
Key operational highlights 
Sinch won several significant contracts in tech, financial 
services, healthcare and telecom. These wins span the portfolio 
across Voice, Messaging and Email and will benefit API platform 
and Network Connectivity. Moreover, the shift from TDM to IP 
based transmission technology in Network Connectivity 
continues and will contribute to reduction of Network 
Connectivity COGS. Combined, these developments will 
contribute to both organic growth and profitability 
improvements in the coming quarters.  
Net sales 
Net sales amounted to SEK 4,230m (4,431) and increased by 7 
percent organically YoY. Growth was predominately driven by 
the API platform, with strong momentum from ramping new 
customers in Messaging and Email products. The currency 
headwind was 12 percent, corresponding to SEK -526m.  
Gross profit 
Gross profit was SEK 1,433m (1,509). Gross profit increased 
organically by 10 percent, with organic growth across all 
product categories, demonstrating strong progress in the 
region. 
Organic gross profit growth in Americas was driven primarily by 
the Voice business in Network Connectivity. Margins expanded 
mainly due to cost reductions, a key part of which was the 
successful shift of network transmission to IP technology. 
Organic growth in API platform was driven by increased net 
sales through continued expansion within the Messaging and 
Email business. The previously communicated volume reduction 
from one of the large customers in the region was more than 
offset by this underlying strong development. Americas API 
platform shows a persistent strong trajectory with a robust and 
diversified customer base.  
The currency headwind for Americas gross profit was 15 
percent, corresponding to SEK -233m.  
The gross margin held steady at 34 percent (34). Strong 
margin expansion in Applications and Network Connectivity 
effectively offset a slight contraction in API Platform, which 
arose from slightly lower margins in the Messaging business. 
This resulted in a stable overall margin for the region. 
SEKm 2026 2025 R12M 2025Applications 254 292 1,099 1,138API Platform 2,824 2,846 11,053 11,075Network Connectivity 1,152 1,293 4,626 4,767Net sales 4,230 4,431 16,779 16,980Organic net sales growth, % 7% 4% 1%Applications 189 205 818 834API Platform 782 873 3,294 3,386Network Connectivity 462 431 1,728 1,696Gross profit 1,433 1,509 5,840 5,916Organic gross profit growth, % 10% 1% 6%
Q1
     
 Net sales Q1 2026 
 
  
 Gross profit Q1 2026 
 
 
 
6%67%27%ApplicationsAPI PlatformNetwork Connectivity13%55%32%ApplicationsAPI PlatformNetwork Connectivity

===== SIDA 8 =====

Sinch Interim Report Q1 2026 Page 8 of 20 
EMEA 
The EMEA region accounts for approximately 20 percent of consolidated net sales and gross profit. The region manages 
customers across Europe, the Middle East, and Africa.  
 
 
Key operational highlights 
Sinch announced a strategic partnership with Lovable, positioning 
Sinch as the communications infrastructure powering AI-native 
applications. This enables users to rapidly develop applications 
while leveraging Sinch’s global and omnichannel communication 
platform. 
Conversational messaging is starting to take off in the region. This 
was exemplified by three large customer wins in retail marketing 
solutions, combining multiple conversational channels.  
Jonathan Bean was appointed Executive Vice President, EMEA & 
Global Partnerships effective April 15.  
Net sales 
Net sales amounted to SEK 1,475m (1,668) and decreased 
organically by 5 percent YoY. The organic decrease is mainly due 
to the reduction of fixed-price supplier contracts with network 
operators. The currency headwind was 7 percent, corresponding 
to SEK -117m. 
Gross profit 
Gross profit was SEK 478m (518), corresponding to a 1 percent 
organic decrease YoY. 
EMEA experienced solid growth in Applications driven by strong 
volumes and favorable product mix, with email as a key driver. 
While these positive developments are encouraging, the reduction 
of fixed-price operator contracts continued to weigh on the YoY 
results. Going forward, the potential further downside from these 
contracts is limited.  
The currency headwind was 7 percent, corresponding to  
SEK -35m.  
The gross margin increased to 32 percent (31), driven by higher 
profitability in Applications and an improved product and customer 
mix.
 
SEKm 2026 2025 R12M 2025Applications 232 234 930 931API Platform 1,122 1,303 4,793 4,975Network Connectivity 120 131 534 544Net sales 1,475 1,668 6,257 6,451Organic net sales growth, % -5% 7% 1%Applications 162 158 660 656API Platform 264 308 1,125 1,170Network Connectivity 52 52 239 238Gross profit 478 518 2,024 2,064Organic gross profit growth, % -1% 3% 1%
Q1
     
 Net sales Q1 2026 
 
  
 Gross profit Q1 2026 
 
 
 
16%76%8%ApplicationsAPI PlatformNetwork Connectivity34%55%11%ApplicationsAPI PlatformNetwork Connectivity

===== SIDA 9 =====

Sinch Interim Report Q1 2026 Page 9 of 20 
APAC 
The APAC region accounts for approximately 15 percent of consolidated net sales and gross profit. The region manages 
customers throughout the Asia-Pacific region. 
 
 
Key operational highlights 
Sinch secured a 5-year exclusive agreement with a global 
customer engagement and marketing automation platform for 
SMS services, with prospects of expansion into other channels.  
Sinch continued the expansion across Singapore and Malaysia in 
Applications by signing new customers and selling the Sinch 
Engage platform to Singapore-based clients. 
Net sales 
Net sales amounted to SEK 788m (949) and decreased 
organically by 5 percent YoY. The organic decline is primarily 
driven by India with lower revenue from the SMS business and a 
one-off revenue adjustment of SEK 20m related to a customer 
dispute. The currency headwind was 12 percent, corresponding to 
SEK -117m.  
Gross profit 
Gross profit was SEK 303m (380) and decreased organically by 
10 percent. Within API platform, strong underlying growth in email, 
combined with a stable Messaging business in the rest of APAC, 
was offset by the decline in the Indian SMS business. While the 
YoY drop in India is visible, the potential further downside on Group 
level is limited, as India represents a low single digit percentage of 
the group’s gross profit.  
While Applications had growth in both volumes and revenue, the 
positive development was not reflected in the YoY gross profit, 
which was pulled down by margin compression in Australia. 
The currency headwind was 11 percent, corresponding to SEK  
-41m.  
The gross margin was 38 percent (40). The change in gross margin 
was a result of the one-off revenue adjustment in India and the margin 
compression in Applications in Australia.
 
SEKm 2026 2025 R12M 2025Applications 279 292 1,125 1,138API Platform 486 631 2,266 2,411Network Connectivity 24 27 97 100Net sales 788 949 3,488 3,649Organic net sales growth, % -5% -4% 1%Applications 165 181 665 681API Platform 132 193 684 745Network Connectivity 6 6 20 20Gross profit 303 380 1,369 1,446Organic gross profit growth, % -10% 5% 1%
Q1
     
 Net sales Q1 2026 
 
 
 Gross profit Q1 2026 
 
 
35%62%3%ApplicationsAPI PlatformNetwork Connectivity54%44%2%ApplicationsAPI PlatformNetwork Connectivity

===== SIDA 10 =====

Sinch Interim Report Q1 2026 Page 10 of 20 
Condensed consolidated income statement 
 
 
 
Condensed consolidated statement of comprehensive 
income 
  
  
SEKm Note 2026 2025 R12M 2025Net sales 1, 2 6,493 7,049 26,524 27,080Other operating income 114 102 318 305Work performed by the entity and capitalized 110 106 455 451Cost of services sold 1 -4,278 -4,641 -17,291 -17,654Other external expenses -510 -599 -2,203 -2,293Employee benefits expenses -1,026 -1,109 -4,181 -4,264Other operating expenses -112 -167 -374 -429EBITDA 792 740 3,247 3,195Depreciation / amortization and impairment -542 -616 -2,258 -2,333EBIT 250 124 988 863Financial income 395 449 1,875 1,929Financial expenses -474 -581 -2,211 -2,319Profit or loss before tax 171 -8 651 472Current tax -112 -172 -397 -457Deferred tax 45 133 114 202Profit or loss for the period 104 -47 369 217Attributable to: Owners of the parent 104 -47 369 217Non-controlling interests 0 0 0 0
Q1
SEKm Note 2026 2025 R12M 2025Profit or loss for the period 104 -47 369 217Other comprehensive incomeItems that may subsequently be reclassified to profit or loss for the period Translation differences 1,033 -2,265 -516 -3,813FX changes on extended net investments 134 -400 -201 -735Hedge of net investments -101 - -11 89Tax effect on items in other comprehensive income -7 82 44 133Other comprehensive income or loss for the period 1,059 -2,582 -684 -4,326Comprehensive income or loss for the period 1,164 -2,630 -315 -4,109Attributable to: Owners of the parent 1,163 -2,630 -315 -4,108Non-controlling interests 0 0 0 0
Q1

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Sinch Interim Report Q1 2026 Page 11 of 20 
Condensed consolidated statement of financial position 
  
Dec 31,SEKm Note 2026 2025 2025ASSETSNon-current assetsGoodwill 18,209 18,755 17,596Customer relationships 9,859 11,349 9,777Operator relationships 95 128 99Proprietary software 3,712 4,174 3,672Other intangible assets 243 294 243Property, plant and equipment 899 958 888Right-of-use-asset 556 664 572Financial assets 71 33 65Other non-current receivables 42 47 42Deferred tax assets 1,173 1,236 1,179Total non-current assets 34,860 37,637 34,133Current assetsAccounts receivable 4,457 3,949 4,221Tax assets 221 296 321Other current receivables 256 311 272Prepaid expenses and accrued income 578 884 654Cash and cash equivalents 416 719 553Total current assets 5,929 6,160 6,020TOTAL ASSETS 40,789 43,797 40,154EQUITY AND LIABILITIESEquityShare capital 8 8 8Other capital contributions 32,005 32,450 32,002Reserves 2,746 3,430 1,687Retained earnings including profit for the year -12,406 -9,482 -10,956Equity attributable to owners of the parent 22,354 26,406 22,740Non-controlling interests 0 0 0Total equity 22,354 26,407 22,741Non-current liabilitiesDeferred tax liability 4,145 4,574 4,066Provisions 4 490 333 491Non-current liabilities, interest-bearing 5,433 4,292 5,076Non-current liabilities, non-interest-bearing 12 19 13Total non-current liabilities 10,079 9,205 9,646Current liabilitiesProvisions 4 238 401 279Contract liabilities/Advance payments from customers 338 333 306Accounts payable 1,367 1,378 1,582Tax liability 193 284 131Other current liabilities, interest-bearing 2,720 2,314 1,832Other non interest bearing current liabilities 380 273 334Accrued expenses and prepaid income 3,119 3,188 3,305Total current liabilities 8,356 8,185 7,767TOTAL EQUITY AND LIABILITIES 40,789 43,797 40,154Financial instruments measured at fair value Derivative instruments with positive value  21             4               12Derivative instruments with negative value 32             9               5               
Mar 31,

===== SIDA 12 =====

Sinch Interim Report Q1 2026 Page 12 of 20 
Condensed consolidated statement of changes in equity 
 
 
   
 
 
1 The dilutive effect is not taken into account when financial performance is negative and outstanding warrants/stock options are not considered when the 
company’s average share price is below the exercise price. 
  
SEKmShare capital Other capital contributions Reserves Retained earnings  Total Non-controlling interests  Total equity Opening balance Jan 1, 2025 8 31,980 6,012 -8,976 29,0251 29,025Profit or loss for the period -47-470-47Other comprehensive income -2,582-2,5820-2,583Share-based payments, net of tax121212Shares issued for warrants 0 11 1Share issue costs, net of tax -1-1 -1Closing balance Mar 31, 20258 31,980 3,430 -9,011 26,406 0 26,407Opening balance Jan 1, 2026 8 32,002 1,687 -10,956 22,740 0 22,741Profit or loss for the period 1041040104Other comprehensive income 1,0591,05901,059Share-based payments, net of tax-1-1-1Shares issued for warrants 0 55 5Repurchase of own shares -1,553-1,553 -1,553Cancellation of shares -1 1- -Bonus issue without issue of new shares 1 -1- -Share issue costs, net of tax -1-1 -1Closing balance Mar 31, 20268 32,005 2,746 -12,406 22,354 0 22,354
Attributable to owners of the parent
Sinch Group, SEKm 2026 2025 R12M 2025Share information Basic earnings per share, SEK 0.14-0.060.460.26Diluted earnings per share, SEK¹0.14-0.060.450.26Basic weighted average number of shares 749,617,072844,551,761807,976,560831,385,113Diluted weighted average number of shares¹752,919,406844,551,761812,576,318835,902,331Number of shares outstanding708,031,387844,556,222708,031,387771,692,266Q1

===== SIDA 13 =====

Sinch Interim Report Q1 2026 Page 13 of 20 
Consolidated statement of cash flow 
 
1 Comprised mainly of depreciation, amortization and impairments and unrealized foreign exchange gains and losses. 
2 Interest paid and received is included in cash flow from operating activities. 
  
SEKm Note 2026 2025 R12M 2025Profit or loss before tax 171 -8 651 472Adjustment for non-cash items¹ 769 738 2,596 2,565Income tax paid 26 -111 -413 -550Cash flow before changes in working capital 967 619 2,834 2,486Change in working capital -449 -560 -273 -383Cash flow from operating activities 518 60 2,561 2,103Investments in property, plant and equipment and intangible assets -143-164-633-654Change in financial receivables 2 1 5 4Cash flow from (-used in) investing activities -142 -163 -629 -650Change in borrowings 1,183 -183 1,765 399Amortization lease liability -25 -32 -101 -109Warrants/Employee Stock Options 4 -1 24 19Repurchase own shares and equity swap -1,533 - -3,734 -2,201Cash flow from (-used in) financing activities -370 -216 -2,047 -1,893Cash flow for the period 6 -319 -114 -439Opening balance cash and cash equivalents for the period 553 1,083 719 1,083Exchange rate differences in cash and cash equivalents -143 -44 -189 -90Closing balance cash and cash equivalents for the period 416 719 416 553Additional cash flow disclosuresInterest paid² -78 -98 -331 -351Interest received² 15 21 73 80Free cash flow 375 -104 1,928 1,449
Q1

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Sinch Interim Report Q1 2026 Page 14 of 20 
Parent company 
Condensed parent company income statement 
 
 
Condensed parent company balance sheet  
 
  
SEKm 2026 2025 R12M 2025Net sales 183 149 857 823Other operating income and expenses -227 -177 -1,083 -1,032Operating profit/loss-44-28-226-209Financial income 573 541 2,259 2,227Financial expenses -573 -675 -2,380 -2,481Appropriations 0 - 110 110Profit or loss before tax -45 -161 -237 -353Tax on profit for the period -3 34 24 61Profit or loss for the period -48 -127 -214 -292
Q1
Dec 31,SEKm 2026 2025 2025ASSETSNon-current assets 16,556 20,991 16,556Current assets 24,789 21,271 25,052TOTAL ASSETS 41,345 42,262 41,608EQUITY AND LIABILITIESRestricted equity 8 8 8Non-restricted equity 26,188 30,154 27,766Total equity 26,196 30,162 27,774Untaxed reserves and provisions 1 85 1Non-current liabilities 4,830 3,597 4,475Current liabilities 10,317 8,418 9,357Total liabilities 15,149 12,100 13,833TOTAL EQUITY AND LIABILITIES 41,345 42,262 41,608
Mar 31,

===== SIDA 15 =====

Sinch Interim Report Q1 2026 Page 15 of 20 
Other disclosures 
Accounting Policies 
The consolidated financial statements have been prepared in 
accordance with International Financial Reporting Standards (IFRS). 
The consolidated interim financial report has been prepared in 
accordance with IAS 34 Interim Financial Reporting and the 
applicable provisions of the Annual Accounts Act. The interim 
report for the parent company has been prepared in accordance 
with the Annual Accounts Act and RFR 2, Accounting of Legal 
Entities. The accounting policies and estimation methods are 
unchanged from those applied in the 2025 Annual Report and 
should be read in conjunction with that annual report.  
The new or amended IFRS standards applicable in 2026 and later 
have had no material impact on Sinch’s financial statements. Risks 
and uncertainties relevant to Sinch are described in the 2025 
Annual Report. 
Related-party transactions 
There have been no significant changes in the relationships and 
transactions with related parties during the quarter. For more 
information, see the 2025 Annual Report. 
Risk assessment 
Sinch is, like all businesses, exposed to various types of risks in its 
operations. Growth in combination with rapid and continuous 
changes in the business environment has made it necessary to 
increase focus on risks and risk management. Sinch has created 
an ERM (Enterprise Risk Management) process to identify and 
control risks and to ensure that required controls and procedures 
are established to safeguard the assets and interests of the 
company. Sinch has defined five types of risks under this 
framework: Strategic, Operational, Legal & Compliance, Financial 
and External.  
More information about risks and risk management is provided in 
the 2025 Annual Report.  
Outlook 
As a general rule, Sinch does not publish forecasts but notes that 
geopolitical uncertainty and a dynamic macroeconomic 
environment are expected to continue to influence global markets 
in 2026. Ongoing conflicts and instability in Ukraine and the Middle 
East, including the recently escalated conflict involving Iran, have in 
recent months contributed to increased volatility in financial 
markets in Sweden and globally. As long as these conflicts persist, 
uncertainty is expected to remain elevated. 
Trade policy developments and tariffs introduced in recent years 
primarily affect goods and are not expected to have a direct 
impact on Sinch’s services. Despite an environment characterized 
by heightened geopolitical and macroeconomic uncertainty, Sinch 
continues to operate from a position of strength, supported by a 
scalable global platform, strong customer relationships, resilient 
underlying profitability and robust cash flow generation. 
Forward-looking statements 
This report contains statements concerning, among other things, 
Sinch's financial position and earnings as well as statements 
regarding market conditions that may be forward-looking. Sinch 
believes that the expectations reflected in these forward-looking 
statements are based on reasonable assumptions. Forward-looking 
statements, however, include risks and uncertainties and actual 
outcomes or consequences may differ materially from those 
expressed. Other than as required by applicable law, forward-
looking statements apply only on the day they are presented and 
Sinch does not undertake to update any of them in light of new 
information or future events. 
Incentive programs 
Within the framework of LTI 2025 adopted by the EGM on August 
14, 2025, key employees within Sinch were granted 145,000 
employee stock options in Q1. The maximum number of 
instruments in LTI 2025 is 12,800,000.  
During the quarter, 107,256 options from LTI 2022 and 34,749 
options from LTI 2024 were exercised, where each option carried 
1 share. The exercise prices were, respectively, SEK 14.654, SEK 
19.835 and SEK 21.63 per share. In relation to this, 142,005 
shares will be registered in Q2 and Sinch will thereby gain an 
additional SEK 2m in equity through the exercise. 
The total costs of incentive programs recognized in profit or loss 
for Q1 amounted to SEK -4m (-9). Payroll costs for vested 
employee stock options in all programs were included in profit or 
loss in the amount of SEK -11m (-12) with a corresponding 
increase in equity. Social insurance costs, based on the share price 
and the vesting period, reduced profit by SEK 7m (3) and resulted 
in an increased provision in the statement of financial position. 
The performance criterion of adjusted EBITDA per share amounted 
to SEK 1.09 (1.05) for the quarter.  
The potential dilutive effect, calculated based on the exercise price 
of the options in relation to the average share price during the 
period, was 0.5 percent (0.4) upon exercise of all outstanding 
warrants and employee stock options when the exercise price is 
lower than the share price on the reporting date.  
See Note 9 of the 2025 Annual Report for further disclosures 
regarding the Group’s incentive programs LTI 2020, LTI II 2020, 
LTI 2021, LTI II 2021, LTI 2022, LTI 2023, LTI 2024 and LTI 2025. 
Share buyback and equity swap 
Supported by the mandate of the AGM held May 22 2025, Sinch 
bought back 12,260,000 shares for SEK 380m in January. 
The Extraordinary General Meeting in February 19 2026 then 
resolved, in accordance with the Board of Directors' proposal, to 
cancel the 74,211,294 repurchased shares, representing 8.8 
percent of the total number of issued shares. The resolution was a 
strategic measure to increase the flexibility of Sinch’s capital 
allocation. It provided the Board of Directors with a renewed 
capacity to decide on additional share repurchases under the 
current authorization, which is valid until the Annual General 
Meeting on 21 May 2026. 
After cancellation of shares in February, an additional 51,720,498 
shares for SEK 1,173m were repurchased, supported by the 
mandate of the AGM held in 2025, which corresponds to 6.7 
percent of total shares issued at the end of the period. 
During 2025, to hedge the expected financial exposure of LTI 
2025, Sinch entered into a share swap agreement with a third 
party, which in its own name acquire and transfer shares in Sinch 
to employees who participate in long-term incentive programs. 
The total number of shares held within the swap agreement was 
unchanged in the quarter and amount to 12,000,000 shares.

===== SIDA 16 =====

Sinch Interim Report Q1 2026 Page 16 of 20 
The total number of shares issued in Sinch is 771,751,885, of 
which the company holds 51,720,498 treasury shares and 
12,000,000 shares within the swap agreement. The number of 
shares outstanding at the end of the quarter is therefore 
708,031,387.  
Parent company 
Sinch AB (publ) owns and manages the shares attributable to the 
Sinch Group. The parent company had 1 (4) employee at the end 
of the period. The parent company has no external business 
activities, and the risks are mainly related to the operations of the 
subsidiaries. 
Employees 
The average number of employees including consultants during 
the quarter was 4,005 (4,099). The average number of employees 
was 3,571 (3,557), of whom 33 (34) percent were women. 
Other important events after the end of the quarter 
After the end of the quarter Sinch secured a new 18-months SEK 
1,000m loan from SEB, with proceeds used for general corporate 
purposes and refinancing of existing loans.

===== SIDA 17 =====

Sinch Interim Report Q1 2026 Page 17 of 20 
Notes 
Note 1. Segment reporting 
The Group’s operating segments are Americas, EMEA and APAC, for more information see page 3 About Sinch. Note that items below 
Gross profit are not allocated to the segments. 
 
Note 2. Net sales by product category & timing of revenue 
recognition 
 
SEKm 2026 2025 R12M 2025Net sales6,4937,04926,52427,080Americas4,2304,43116,77916,980EMEA1,4751,6686,2576,451APAC 7889493,4883,649Cost of services sold -4,278-4,641-17,291-17,654Americas-2,796-2,921-10,939-11,064EMEA-996-1,150-4,233-4,387APAC -486-569-2,120-2,203Gross profit 2,2142,4089,2339,426Americas1,4331,5095,8405,916EMEA4785182,0242,064APAC 3033801,3691,446
Q1
SEKm 2026 2025 R12M 2025AmericasApplications 2542921,0991,138API Platform 2,8242,84611,05311,075Network Connectivity 1,1521,2934,6264,767Total net sales Americas4,2304,43116,77916,980Over time 2,1032,2658,2798,441At one point in time 2,1272,1668,5008,539EMEAApplications 232234930931API Platform 1,1221,3034,7934,975Network Connectivity 120131534544Total net sales EMEA1,4751,6686,2576,451Over time 238249961972At one point in time 1,2361,4195,2965,479APAC Applications 2792921,1251,138API Platform 4866312,2662,411Network Connectivity 242797100Total net sales APAC7889493,4883,649Over time 6467276280At one point in time 7248823,2123,370Total net sales6,4937,04926,52427,080Over time 2,4052,5819,5169,692At one point in time 4,0874,46717,00817,388
Q1

===== SIDA 18 =====

Sinch Interim Report Q1 2026 Page 18 of 20 
Note 3. Reconciliation items related to operating profit
Adjusted EBITDA and operational EBITA are intended to clarify 
performance in underlying operations. The adjustments include 
transformation costs, operational foreign exchange gains/losses, 
costs of share-based incentive programs and non-recurring 
adjustments. 
The costs of incentive programs, i.e. payroll costs and social 
security contributions, are adjusted for as payroll costs are, in 
accordance with IFRS 2, an estimated cost that does not affect 
cash flow and social insurance costs fluctuate with Sinch’s price 
per share. Excluding these costs from adjusted EBITDA ensures 
that short-term changes in the share price do not impede analysis 
of the underlying business and makes it easier to relate adjusted 
EBITDA to Sinch’s cash flow.  
It should be noted that the metric previously referred to as 
“Adjusted EBIT” has been renamed to “Operational EBITA”, with no 
change to the underlying calculation.  
The calculation of Adjusted EBITDA R12 per share outstanding is 
based on the outstanding number of shares at period end.
 
Note 4. Provisions 
In the fourth quarter of 2024, a provision for other taxes of SEK 700m was recognized in accordance with IAS 37. During the first quarter 
of 2026, SEK 33m was utilized. The provision is reviewed at the end of each reporting period and adjusted to reflect the current best 
estimate. No changes in assumptions have been made compared with the fourth quarter of 2025. As of 31 March 2026, SEK 468m of the 
provision is classified as non-current and SEK 199m as current in the Group’s statement of financial position. 
Note 5. Pledged assets and contingent liabilities 
Pledged assets amounted to SEK 94m (111) and contingent liabilities amounted to SEK 19m (31) at the end of the quarter. Pledged 
assets amounted to SEK 94m and contingent liabilities to SEK 16m on December 31, 2025. 
  
SEKm 2026 2025 R12M 2025Reported EBITDA 792 740 3,247 3,195Transformation costs 28 70 174 216Costs of share-based incentive programs  4 9 41 46Operational foreign exchange gains/losses -3 67 55 126Other adjustments 2 3 22 22Adjusted EBITDA 822 889 3,539 3,605Reported EBIT 250 124 988 863Total EBITDA adjustments 30 149 292 410Amortization of acquisition-related assets 400 476 1,678 1,753Operational EBITA 681 749 2,958 3,026
Q1

===== SIDA 19 =====

Sinch Interim Report Q1 2026 Page 19 of 20 
Definitions 
Financial measures not 
defined under IFRS: 
Gross profit  
Definition: Net sales less the cost of 
services sold. 
Purpose: A large share of Sinch’s cost of 
services sold consists of traffic fees paid to 
mobile operators. Operator traffic fees 
differ significantly from one country to the 
next. Consequently, changes in traffic 
patterns and the volume mix can have 
high impact on net sales and the gross 
margin even though there is no effect on 
gross profit in absolute numbers.  
Organic growth  
Growth adjusted for the impact of 
acquisitions and the effects of foreign 
currency. 
Purpose: Sinch’s presentation currency is 
SEK, while a large portion of revenues and 
costs are in other currencies. Growth 
adjusted for acquired entities and currency 
effects shows underlying growth. 
Acquisitions are considered part of organic 
operations after 12 months. 
Gross margin  
Gross profit as a percentage of net sales.  
Gross profit growth 
Gross profit for the year divided by gross 
profit in the preceding year. 
Operating expenses (Opex)/Adjusted 
Opex 
Opex consists of the following items: Other 
operating income, Work performed by the 
entity and capitalized, Other external 
expenses, Employee benefits expenses 
and Other operating expenses.  
Adjusted Opex is Opex excluding items 
affecting comparability.  
EBIT 
Profit before financial income, financial 
expenses and taxes.   
Operational EBITA 
Definition: Profit before financial income, 
financial expenses, taxes and acquisition-
related amortization, excluding items 
affecting comparability.  
Purpose: Enables comparison of 
operational profitability over time.  
EBITDA 
Profit before financial income, financial 
expenses, taxes, depreciation, amortization 
and impairments of property, plant and 
equipment and intangible assets. 
Adjusted EBITDA 
Definition: EBITDA excluding items affecting 
comparability. 
Purpose: Enables comparison of 
profitability over time in underlying 
operations. 
Items affecting comparability 
Transformation costs, operational foreign 
exchange gains/losses, costs of share-
based incentive programs and non-
recurring adjustments. 
Transformation costs 
Transformation costs consist of the 
following items: 
Acquisition costs - costs incurred as a 
consequence of a business combination. 
Integration costs – non-recurring costs 
arising mainly in connection with business 
combinations and in connection with the 
creation of a common IT infrastructure 
when aligning processes, brands and 
technical systems. 
Restructuring costs – non-recurring costs 
related to restructuring, mainly including 
costs of laying off employees and indirect 
costs related to the layoffs.  
EBITDA margin/Adjusted EBITDA margin  
EBITDA/Adjusted EBITDA as a percentage 
of net sales.  
Adjusted EBITDA R12M/share outstanding 
Definition: Adjusted EBITDA R12M divided 
by the shares outstanding at the end of 
reporting period. 
Purpose: Measures the profitability 
generated by the underlying operations 
per outstanding share. 
EBIT margin/Operational EBITA margin 
EBIT/Operational EBITA as a percentage of 
net sales.  
Net debt 
Interest-bearing liabilities less cash and 
cash equivalents.  
Net debt/adjusted EBITDA R12M 
Definition: Net debt divided by adjusted 
EBITDA, past 12 months. Net debt and 
adjusted EBITDA are both measured 
excluding IFRS 16-related lease liabilities. 
Purpose: Shows how many years it would 
take to pay off the company’s debts 
presuming that net debt and adjusted 
EBITDA are constant and with no 
consideration of other cash flows. 
Equity ratio 
Equity as a percentage of total assets.  
Free cash flow 
Cash flow from operating activities after 
net investments in property, plant and 
equipment and intangible assets during the 
period. 
Free cash flow per share 
Definition: Free cash flow divided by the 
volume-weighted average number of 
shares outstanding for the period after 
dilution. 
Purpose: Measures free cash flow per 
share generated by the business. 
Cash conversion 
Definition: Free cash flow divided by 
adjusted EBITDA.  
Purpose: Measures the free cash flow 
generated by the business in relation to 
profitability in underlying operations. 
Cash conversion R12M 
Cash flow from operating activities after 
investments, divided by Adjusted EBITDA, 
past 12 months. 
 
Operational 
measurements 
Average number of employees including 
consultants 
Average number of employees and 
consultants during the period, recalculated 
as full-time equivalents.  
Shares outstanding 
The total number of shares issued, 
excluding shares held in treasury and 
shares held for share swap agreement. 
 
Reconciliation of financial 
measurements 
For a reconciliation of financial 
measurements and organic growth, please 
refer to investors.sinch.com. 
 
Terms and acronyms 
For more definitions of terms and 
acronyms, please see the 2025 Annual 
report.

===== SIDA 20 =====

Sinch Interim Report Q1 2026 Page 20 of 20 
 
 
For additional information, please contact: Mia Nordlander Senior Vice President Investor Relations & Sustainability Mobile: +46 73 511 53 95 E-mail: mia.nordlander@sinch.com  Jonas Dahlberg Chief Financial Officer E-mail: investors@sinch.com 
Forthcoming reporting dates Interim report Q2 July 22 Interim report Q3 November 5 Year-end report  February 11  AGM   The Annual General Meeting will be held at 10:00 A.M. CEST on Thursday, May 21, 2026, at Sinch headquarters. 
Headquarters Sinch AB (publ) Lindhagensgatan 112 112 51 Stockholm, Sweden Corporate ID 556882-8908  sinch.com 
Sinch AB (publ) Stockholm, May 7, 2026    Laurinda Pang, President and CEO   This interim report has not been reviewed by the company’s auditors.  Invitation to webcast and phone conference Sinch will present the interim report in a webcast and phone conference on Thursday, May 7, 2026 at 10:00 CEST. Watch the presentation at https://edge.media-server.com/mmc/p/vuynommh. If you wish to participate via teleconference, follow the link below to register: https://register-conf.media-server.com/register/BI9b7df6b41a8748f684c889420b06e0f3. After registration, you will be provided with dial-in details and a unique PIN to access the conference.   Note: Sinch AB (publ) is required to publish the information in this report pursuant to the EU Market Abuse Regulation.  The information was released for publication by the contact person above on May 7, 2026, at 7:30 A.M. CEST.  This report is published in Swedish and English. In case of any differences between the English version and the Swedish original text,  the Swedish version shall apply.