TORONTO, Ontario, December 22, 2022 /Globe NewsWire/- NowVertical Group Inc. (TSXV: NOW) (“NOW” or the “Company“), the VI software and solutions company, is pleased to announce that it has entered into a definitive agreement with Group Analytics 10 and Inteligencia de Negocios and its affiliate entities (collectively, “A10 Group”) to acquire 100% of the issued and outstanding securities of A10 Group (the “Acquisition”), for total upfront gross consideration of US$5.5 million, subject to customary post-closing adjustments. The Acquisition is expected to increase NOW’s annual revenues by approximately US$23.5 million and Adjusted EBITDA by approximately US$2.5 million (unaudited), pre-synergies.

“The acquisition announced today represents a significant expansion into the LATAM market with new operations in Brazil, Chile and Mexico,” said Daren Trousdell, Chairman & CEO of NOW. “We had already established a significant presence in the region with our CoreBI acquisition earlier this year. Today, with our 12th acquisition, we are adding one of the region’s premier big data solution providers with a highly seasoned team of more than 175 individuals. We see an exceptional future and accelerated growth ahead for NOW in one of the world’s most exciting big data and analytics markets.”

About A10 Group:

Founded in 2004, A10 Group is one of Latin America’s most experienced big data, business intelligence, and advanced analytics partners. It helps organizations make intelligent, data-backed decisions by translating data into understandable information that accelerates concrete actions. A10 Group has helped serve more than 700 clients, including some of LATAM’s most prominent governmental and commercial organizations. A10 Group provides exceptional client support through a team of approximately 175 collaborators. With state-of-the-art technologies and solid processes, it can respond to specific needs and requirements to solve complex problems, simplify implementation, and ensure effective results. With operations in Brazil, Chile, and Mexico, A10 Group works with globally renowned brands across multiple verticals, including Nestle, Court of Federal Districts (Brazil), Biogen, AutoZone, Thompson Reuters, Bayer and Walmart.

A10 Group also develops and implements visual analytics, business intelligence, data discovery tools and projects. The Group is an award-winning leader in the big data and analytics market known for providing value-added solutions to governmental and commercial clients across their entire data estates.

“We’re excited to join forces with NOW to accelerate our growth across the LATAM Big Data and Analytics market,” said Cristóbal Urenda, Co-Founder and Board Member of A10 Group. “By joining forces with NOW, we’ll be able to deliver that same experience on an increased scale with access to new regions and clients. With their world-class capabilities, established LATAM footprint and talent, and complementary client roster, NOW is our ideal partner.”

Transaction Details:

Under the terms of the definitive purchase agreement dated December 21, 2022, the Company has agreed to complete the Acquisition for consideration payable as follows: (i) a closing cash payment of US$4.95 million, subject to holdbacks, (ii) $550,000  settled by way of an issuance of subordinate voting shares in the capital of NOW (“NOW Shares” each a “NOW Share”) at a deemed price equal to the greater of NOW’s 20-day VWAP on closing and US$1.00 per NOW Share, subject to customary lock-ups, and (iii) earn-out consideration paid over four fiscal years based on certain Adjusted EBITDA targets.

Closing of the Acquisition is subject to customary closing conditions, including the receipt of necessary third-party consents, regulatory approvals, and approval of the TSX Venture Exchange. NOW anticipates the completion of the Acquisition to occur during the first quarter of 2023. The Acquisition is an arm’s length transaction and no finder’s fee is expected to be paid by NOW in connection with the Acquisition.

New Credit Facility with Export Development Canada

NOW is also pleased to announce it has launched a partnership with Export Development Canada (“EDC”) to support NOW’s international growth and expansion efforts. As part of this partnership, NOW and EDC have entered into a non-dilutive secured USD$7 million credit facility agreement effective December 21, 2022 (the “EDC Facility”).

The EDC Facility enables requests by the Company for periodic advances to be made for a period of six (6) months, subject to the satisfaction of certain customary conditions, and the EDC Facility matures on the date that is 72 months following the date of the first advance (the “Maturity Date”). The EDC Facility bears interest at a variable rate of US prime plus 3% on drawn amounts and has no prepayment penalty or standby charge.

About NowVertical Group Inc.

NOW is the VI software and solutions company growing organically and through acquisition. NOW’s VI solutions are organized by industry vertical and are built upon a foundational set of data technologies that fuse, secure, and mobilize data in a transformative and compliant way. The NOW product suite enables the creation of high-value VI solutions that are predictive in nature and drive automation specific to each high-value industry vertical. For more information about the Company, visit www.nowvertical.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Daren Trousdell, Chief Executive Officer
e: daren@nowvertical.com

t: (212) 302-0868

or

Glen Nelson, Investor Relations

e: glen@nowvertical.com

t: (403) 763-9797 

Forward-Looking Statements

This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company’s current expectations regarding future events. Forward-looking statements are identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on the Company’s expectations, estimates, forecasts and projections and include, without limitation, statements regarding the future success of the Company’s business, statements relating to NOW’s business plans and outlook, TSX Venture Exchange approval of the Acquisition, the completion of the EDC Facility and the use of proceeds from the EDC Facility.

The forward-looking statements in this news release are based on certain assumptions. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Cautionary Note Regarding Non-IFRS Measures

This news release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS, and are therefore, unlikely to be comparable to similar measures presented by other companies. Instead, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. The Company’s definitions of non-IFRS measures used in this news release may not be the same as the definitions for such measures used by other companies in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The Company uses non-IFRS financial measures including “Adjusted Revenues”, “EBITDA” and “Adjusted EBITDA”. These non-IFRS measures are used to provide investors with supplemental measures of our operating performance and to eliminate items that have less bearing on our operating performance or operating conditions and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. Specifically, the Company believes that Adjusted EBITDA, when viewed with the Company’s results under IFRS, provide useful information about the Company’s business without regard to potential distortions. By eliminating differences in results of operations between periods caused by factors such as acquisition-related adjustments, depreciation and amortization methods, impairment and other charges, the Company believes that Adjusted EBITDA can provide a useful basis for comparing the current performance of the underlying operations being evaluated. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. The Company’s management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period and to prepare annual budgets and forecasts.

TORONTO, Ontario, December 12, 2022 /Globe NewsWire/- NowVertical Group Inc. (TSXV: NOW) (“NOW” or the “Company“), the VI software and solutions company, is pleased to announce that it has entered into definitive agreements to acquire 100% of the issued and outstanding securities of two U.K. based data analytics solution providers, (the“Acquisitions”), Acrotrend Solutions (“Acrotrend”) and Smartlytics Consultancy (“Smartlytics”) for total upfront gross consideration of US$6.45 million (the “Purchase Price”), subject to customary post-closing adjustments. The Acquisitions are expected to increase NOW’s  Revenues by approximately US$6.1 million and Adjusted EBITDA by approximately US$1.9 million for the trailing 12-month period (unaudited), pre-synergies.

“The acquisitions announced today represent NOW’s 10th and 11th made to date,” said Daren Trousdell, Chairman & CEO of NOW. “Our vision since the beginning has been to create an efficient capital allocator that combines solid organic and inorganic growth for the long term. These companies are excellent examples of how we are creating value for investors. The addition of the Acrotrend and Smartlytics teams will help accelerate and grow our expected positive Adjusted EBITDA and add additional opportunities for further organic growth in the UK, a key market for NOW. They also set the stage for our next round of acquisitions that, under the NOW banner, will help customers realize the potential of Vertical Intelligence.”

 About Acrotrend:

Founded in 2007 by Sandeep Mendiratta and Shailesh Mallya, Acrotrend is a UK-based customer data & analytics consultancy that will complement NOW’s established UK technology presence with practical data science and sophisticated AI to enhance customer lifetime value (“CLV”) for our clients.  With a focus on medium to large enterprises, Acrotrend accelerates cloud data modernization journey and delivers solutions on leading technologies primarily within the sales, marketing, customer services and digital functions through a scalable and efficient operating model.

With operations in the UK and India, Acrotrend has been working with globally renowned brands across multiple verticals, including Reed Exhibitions (RX), The Economist Group, The Walt Disney Company, Sky Group, Informa, Nuffield Health, GSK and Cancer Research UK.

“At Acrotrend, we’ve spent the last 15 years delivering value within data and analytics that results in long-term positive impact on our clients. By joining forces with NOW, we’ll be able to deliver that same experience on a massively increased scale,” said Sandeep Mendiratta, Co-Founder and Chief Executive Officer of Acrotrend. “The combined commercial delivery potential and high value solutions will be a game changer for so many of our current and future clients.”

About Smartlytics:

Smartlytics develops end-to-end data solutions to eliminate data silos and create a single source of truth. As a full-service customer insight and analytics company, Smartlytics specializes in customer data science

providing “SMART” recurring revenue contracts for corporations. It also provides more extensive service engagements to larger organizations on a customized basis through its head office in the UK and operations in Dubai, UAE and Cairo, Egypt. Its clients and experience include working with public and private sector organizations such as Signal AI, Leicestershire County Council, Redington and Patrizia.

Smartlytics’s technology solution, Smartlytics Hub, is a cloud-native end-to-end platform that enables self-serve development of enterprise data solutions. The platform integrates the latest data science and business intelligence innovations, machine learning, and analysis in a secure, scalable, and cost-effective offering for public and private sector organizations that reduce costs, increase demand and deliver an outstanding customer experience.

“We’re excited to join forces with NOW to accelerate our growth and new capabilities for our customers,” said Mostafa Hashem, Managing Director of Smartlytics. “This decision grew naturally out of our commitment to sustaining our growth trajectory for our team members and positioning us to drive service expansion with our category-leading clients. With their world-class capabilities, talent, and client roster, NOW was the ideal partner for us.”

Transaction Details

Under the terms of the definitive purchase agreements dated December 5, 2022, the Company has agreed to complete the Transactions in aggregate for (i) a closing cash payment of US$5.1 million, subject to holdbacks, (ii) issuance of 1.35 million subordinate voting shares in the capital of NOW (“NOW Shares” each a “NOW Share”) priced at the greater of NOW’s 20-day VWAP on closing and $1.00 USD per NOW Share, subject to holdbacks, and (iii) earn-out consideration paid over three fiscal years based on certain Adjusted EBITDA targets.

Closing of the Acquisitions is subject to customary conditions for transactions of this nature, including the receipt of necessary third-party consents, regulatory approvals and approval of the TSXV. NOW expects the Acquisitions to be completed before the calendar year end 2022.  The Now Shares issuable in connection with the Transactions will be subject to a statutory hold period of 4 months and a day from the closing date (or in the case of any Now Shares issued in connection with the earn-out consideration, four months and a day from such issuance date).

About NowVertical Group Inc.

NOW is the VI software and solutions company growing organically and through acquisition. NOW’s VI solutions are organized by industry vertical and are built upon a foundational set of data technologies that fuse, secure, and mobilize data in a transformative and compliant way. The NOW product suite enables the creation of high-value VI solutions that are predictive in nature and drive automation specific to each high-value industry vertical. For more information about the Company, visit www.nowvertical.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Daren Trousdell, Chief Executive Officer
e: daren@nowvertical.com
t: (212) 302-0868
or
Glen Nelson, Investor Relations
e: glen@nowvertical.com
t: (403) 763-9797

Forward-Looking Statements

This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect the Company’s current expectations regarding future events. Forward-looking statements are identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on the Company’s expectations, estimates, forecasts and projections and include, without limitation, statements regarding the future success of the Company’s business.

The forward-looking statements in this news release are based on certain assumptions. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Cautionary Note Regarding Non-IFRS Measures

This news release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS, and are therefore, unlikely to be comparable to similar measures presented by other companies. Instead, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. The Company’s definitions of non-IFRS measures used in this news release may not be the same as the definitions for such measures used by other companies in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The Company uses non-IFRS financial measures including “Adjusted Revenues”, “EBITDA” and “Adjusted EBITDA”. These non-IFRS measures are used to provide investors with supplemental measures of our operating performance and to eliminate items that have less bearing on our operating performance or operating conditions and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. Specifically, the Company believes that Adjusted EBITDA, when viewed with the Company’s results under IFRS, provide useful information about the Company’s business without regard to potential distortions. By eliminating differences in results of operations between periods caused by factors such as acquisition-related adjustments, depreciation and amortization methods, impairment and other charges, the Company believes that Adjusted EBITDA can provide a useful basis for comparing the current performance of the underlying operations being evaluated. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. The Company’s management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period and to prepare annual budgets and forecasts.

TORONTO, Nov. 16, 2022 (GLOBE NEWSWIRE) — NowVertical Group Inc. (TSX-V: NOW) (“NOW” or the “Company”), the vertical intelligence (“VI”) software and solutions company, today announces its financial results for the three and nine months ended September 30, 2022. All figures are in U.S. dollars unless otherwise stated.

Selected Pro Forma and Financial Highlights

• Pro Forma TTM Adjusted Revenue¹ – Pro Forma TTM Adjusted Revenue, which includes all acquisitions closed at September 30, 2022, was $32.7M, a nearly ten-fold increase over Q3 2021.
• Adjusted Revenue¹ – Adjusted Revenue was $8.5M in Q3 2022 and $19.2M YTD 2022, an increase of nearly nine times from $1.0 million in Q3 2021 and an increase of more than seven times from $2.6M in the nine months ended September 30, 2021.
• Revenue – Revenue was $8.4M in Q3 2022 and $18.6M YTD 2022, an increase of 775% from $1.0 million in Q3 2021 and an increase of 795% from $2.1M in the nine months ended September 30, 2021.
• Adjusted EBITDA¹ – Adjusted EBITDA was ($0.3M) in Q3 2022 and ($1.2M) YTD 2022, an increase of $0.6M from ($0.9) million in Q3 2021 and a decrease of $0.6M from ($0.6M) in the nine months ended September 30, 2021.
• Net Loss – Net Loss was $2.9M in Q3 2022 and $6.0M YTD 2022, an increase of $1.5M from Q3 2021 and a decrease of $3.4M from the nine months ended September 30, 2021.
• Cash and Cash Equivalents – Cash and cash equivalents were $2.8M as of September 30, 2022.

“Today, we are again pleased to announce another record quarter of growth in our business. In the third quarter, we increased Adjusted Revenue by nearly ten times year over year and moved significantly closer to our goal of delivering positive Adjusted EBITDA,” said Daren Trousdell, Chairman and CEO of NOW. “The fourth quarter promises to add even more opportunity as our M&A program continues to identify new and exciting companies that complement our current offerings across both our Technology and Solutions segments, which have combined to add $3.6M in Adjusted EBITDA so far in 2022.”

^{__________________________________________
1}See NON-IFRS MEASURES at the end of release

Q3 2022 and Subsequent Business Highlights

• NOW achieved an above-average SaaS industry retention rate and added numerous new clients to its customer roster. The renewals span several large multinational brands and agencies, including Starz, Universal Music (UK), Fleishman Hillard True Global Intelligence, Leo Burnett, Digitas, and Formerly Known As (FKA).
• NOW’s Government Solutions team was awarded a seven-figure direct award in support of the U.S. Department of Energy’s (DOE) technology transfer activities and was recognized by the U.S. Department of Labor with a 2022 HIRE Vets Gold Medallion Award.
• NOW completed a regional expansion into Mexico with the signing of a contract with a large-scale retail and manufacturing provider and Aeroméxico, as well as adding new LATAM customer contracts across the financial services, retail, pharmaceuticals, and healthcare verticals, including HSBC Argentina, Banco Popular, CCU, BigBox and OSDE.
• Subsequent to Q3, NOW completed a marketed public offering of 4,569 senior unsecured convertible debenture units of the Company (the “Debenture Units”) and its concurrent private placement of 500 Debenture Units at a price of $1,000 per Debenture Unit for total gross proceeds of C$5,069,000.
• NOW was recognized by the 2022 AI TechAwards by AI DevWorld for Best in Big Data AI, celebrating technical innovation and adoption in the AI, Machine Learning & Data Science industry and by the global developer community.
• NOW completed an update to its NOW Privacy offering, extending functionality to enhance data search capabilities, out-of-the-box data connections and overall ease of use.
• NOW announced the creation of a new partnership with Talkwalker Inc. through its NOW Affinio business unit, which provides automated audience insights for marketers, and launched a new shopper insights product in conjunction with Ibotta, Inc. to leverage turnkey shopping analytics to understand motivations, unravel trends, and decode elements of shopper behavior in seconds.

NOW Appoints Alim Virani to CFO

The Company is also pleased to announce the appointment of Alim Virani as Chief Financial Officer of NOW. Mr. Virani previously served as Senior VP of Financial Operations, responsible for scaling NOW’s finance function, including financial and operational reporting, middle-office operations, and business integrations, since joining NOW in September 2022. Mr. Virani is a Toronto-based CPA who began his career in PwC’s assurance practice and previously spent seven years with a Canadian publicly-traded software consolidator, where he held successively senior financial positions before joining NOW. He will replace Teri Anderson on November 17, 2022, who is stepping down after joining the Company in November 2021.

“I am excited and honored to build on my role with NOW as Chief Financial Officer,” said Alim Virani. “The team has built a strong portfolio in one of the fastest-growing sectors in software and technology. I look forward to working with Daren, the executive team, and the talented finance team as we build on our momentum and continue to deliver value across the portfolio for shareholders.”

“We are extremely pleased to announce the appointment of Alim to a critical role within the NOW organization. Since joining NOW, he has repeatedly demonstrated his deep industry expertise and perspective to the management team,” said Daren Trousdell, Chairman and CEO of NOW. “On behalf of myself and the Board, I would also like to thank Teri for her invaluable contributions to NOW as we transitioned into our next phase of organic and acquisition-based growth. We wish her the best in her future endeavors.”

Investor Webinar

NOW invites shareholders, analysts, investors, media representatives, and other stakeholders to attend our upcoming webinar. Daren Trousdell, Chief Executive Officer, will discuss Q3 2022 results, followed by a question-and-answer session. Registration details for the webinar, including the date and time, can be found immediately below:

Time: November 17, 2022, 09:30 AM EST
Register here: https://bit.ly/NOW-Q3-Registration

A recording of the webinar and supporting materials will be made available in the “Investors” section of the Company’s website at: https://nowvertical.com/news-and-media

Related links:
https://www.nowvertical.com

Additional Information

The Company’s unaudited condensed consolidated interim financial statements, notes to financial statements, and management’s discussion and analysis for the three and nine months ended September 30, 2022 are available on the Company’s SEDAR profile at www.sedar.com.

An investor presentation, including supplemental financial information and reconciliations of certain non-IFRS measures, is available on NOW’s Investor Relations website at:
https://nowvertical.com/news-and-media/#Presentations 

About NowVertical Group Inc.

NOW is the VI software and solutions company growing organically and through acquisition. NOW’s VI solutions are organized by industry vertical and are built upon a foundational set of data technologies that fuse, secure, and mobilize data in a transformative and compliant way. The NOW product suite enables the creation of high-value VI solutions that are predictive in nature and drive automation specific to each high-value industry vertical. For more information about the Company, visit www.nowvertical.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Daren Trousdell, Chief Executive Officer
e: daren@nowvertical.com
t: (212) 302-0868

or

Glen Nelson, Investor Relations
e: glen@nowvertical.com
t: (403) 763-9797

NON-IFRS MEASURES

The non-IFRS financial measures referred to in this news release are defined below. The management discussion and analysis for the three and nine months ended September 30, 2022 (the “Q3 2022 MD&A”), available at www.nowvertical.com and on the Company’s SEDAR profile, also contains supporting calculations for Adjusted Revenue, EBITDA, Adjusted EBITDA and Pro Forma TTM Adjusted Revenue.

“Adjusted Revenue” adjusts revenue to eliminate the effects of acquisition accounting on the Company’s revenues.

“Q3 2022 Proforma Adjusted Revenue” adjusts revenue to eliminate the effects of acquisition accounting on the Company’s revenues and includes revenues from all acquisitions completed as at the MD&A issuance date.

“Adjusted EBITDA” adjusts EBITDA for revenue adjustments in “Adjusted Revenue” and items such as acquisition accounting adjustments, transaction expenses related to acquisitions, transactional gains or losses on assets, asset impairment charges, non-recurring expense items, non-cash stock compensation costs, and the full-year impact of cost synergies related to the reduction of employees.

“Pro Forma TTM Adjusted Revenue” represents the trailing twelve months of Adjusted Revenue of all acquisitions completed as of the end of the respective period presented.

“Current Pro Forma TTM Adjusted Revenue” adjusts Pro Forma TTM Adjusted Revenue to include the Pro Forma TTM Adjusted Revenue of all acquisitions completed through the date of the Q3 2022 MD&A. The prior year’s comparable amount reflects acquisitions completed through the date of the prior period’s MD&A.

Forward‐Looking Statements

This news release may contain forward‐looking statements (within the meaning of applicable securities laws) which reflect the Company’s current expectations regarding future events. Forward-looking statements are identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on the Company’s expectations, estimates, forecasts and projections and include, without limitation, statements regarding the future success of the Company’s business.

The forward-looking statements in this news release are based on certain assumptions. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Cautionary Note Regarding Non-IFRS Measures

This news release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. The Company’s definitions of non-IFRS measures used in this news release may not be the same as the definitions for such measures used by other companies in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The Company uses non-IFRS financial measures including “Adjusted Revenue”, “EBITDA”, “Adjusted EBITDA”, “Pro Forma TTM Adjusted Revenue”, and “Current Pro Forma TTM Adjusted Revenue”. These non-IFRS measures are used to provide investors with supplemental measures of our operating performance and to eliminate items that have less bearing on our operational performance or operating conditions and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. The Company’s management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period and to prepare annual budgets and forecasts.

TORONTO, Ontario – November 9, 2022 /Globe Newswire/ – NowVertical Group Inc. (TSX-V: NOW) (“NOW” or the “Company”), the vertical intelligence (“VI”) software and solutions company, is pleased to announce that Allegient Defense, NOW’s Government Solutions team, was recognized by U.S. Secretary of Labor Martin J. Walsh as one of the 835 recipients of the 2022 HIRE Vets Medallion Award during a virtual award ceremony earlier today presented by U.S. Department of Labor.

 NOW’s Government Solutions team, Allegient Defense, earned the gold award from the Honoring Investments in Recruiting and Employing American Military Veterans Act (HIRE Vets Act) Medallion Program. The program is the only federal award program that recognizes employers who successfully recruit, hire, and retain veterans.

 “From NOW’s earliest days, we’ve known that Government solutions would be a key component of our business and strategy. For that reason – and so many more – we were beyond excited to bring the Allegient Defense team into the fold and to continue to support their mission of employing and engaging with veteran communities across the United States,” said Daren Trousdell, NOW’s Chairman and CEO. “The veteran community includes some of the best and brightest in technology, data solutions, and beyond. We’re honored to receive this recognition and proud of the Allegient Defense team’s hard work to continue investing with this critical group.”

NowVertical Group and Allegient Defense have joined 834 other companies from 49 states, plus the District of Columbia, who have shown a commitment to hiring veterans and ensuring that they have a long-term career and growth plan that uses the diverse skills they acquired through their military service.

“Our team’s history is rooted in supporting our Department of Defense clients as well as our veterans. That’s part of why we deeply value and continuously strive to hire and retain veterans throughout our team and organization. This award represents the culmination of who we are as a company and our dedication and support of the veteran community,” said Dr. Angel Diaz, CEO of Allegient Defense.

Recipients of the 2022 HIRE Vets Medallion Award meet rigorous employment and veteran integration assistance criteria, including veteran hiring and retention percentages, availability of veteran-specific resources, leadership programming, dedicated human resource efforts, pay compensation, and tuition assistance programs. More than 1,400 employers have earned a HIRE Vets Medallion Award since 2018.

 About NowVertical Group Inc.

NOW is the VI software and solutions company growing organically and through acquisition. NOW’s VI solutions are organized by industry vertical and are built upon a foundational set of data technologies that fuse, secure, and mobilize data in a transformative and compliant way. The NOW product suite enables the creation of high-value VI solutions that are predictive in nature and drive automation specific to each high-value industry vertical. For more information about the Company, visit www.nowvertical.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Daren Trousdell, Chief Executive Officer
e: daren@nowvertical.com
t: (212) 302-0868

or

Glen Nelson, Investor Relations
e: glen@nowvertical.com
t: (403) 763-9797

TORONTO, Ontario – Nov. 8, 2022 /Globe Newswire/ – NowVertical Group Inc. (TSX-V: NOW) (“NOW” or the “Company”), the vertical intelligence (“VI”) software and solutions company is pleased to announce a new contract with Grupo Aeromexico S.A.B. de C.V. (“Aeroméxico”), the largest international flag carrier airline in Mexico, based in Mexico City.  

Under the contract, NOW will help advance Aeroméxico’s data governance program, defining the vision and path it will need to take to evolve and reach its goal of being a data-driven operator. The vertically intelligent transformation efforts will increase Aeroméxico’s data and analytics capabilities, enabling the design and implementation of an effective governance strategy and helping the organization make more bold decisions with confidence. The program will focus on outlining the roles, responsibilities, architecture, and work plans for the evolution of Aeroméxico’s data-centric culture.

“We are incredibly pleased with this additional expansion into more of Latin America. Representing more than a quarter of LATAM’s demand for Big Data and Analytics services, Mexico brings a wealth of incredible opportunities to provide vertically intelligent solutions to some of the largest companies in the region,” said Daren Trousdell, Chairman and CEO of NOW.

Aeroméxico is a Mexican airline group that operates a national flag carrier, Aeroméxico, and a regional carrier, Aeroméxico Connect. The company is owned by a diverse group of private investors as well as by Fondos Banamex (a Citigroup subsidiary) and GBM. Founded in 1934, Aeroméxico operates scheduled international and domestic services from its base at Mexico City International Airport in partnership with Aeroméxico Connect.

CoreBI, NOW’s LATAM solutions provider, is also pleased to announce that on November 9, 2022, it will participate as a sponsor of the 2022 CDO LATAM Summit in Buenos Aires, Argentina. The summit brings together professionals who hold the position of Chief Data Officer, or similar titles, in their organizations to become a vehicle for coordination, interrelation, and growth of data governance and artificial intelligence practices in Latin America.

About NowVertical Group Inc.

NowVertical Group is the vertical intelligence (VI) software and solutions company that helps organizations make bold decisions with confidence. NOW’s proprietary VI solutions, organized by industry vertical, are built upon a foundational set of data technologies that fuse, secure, and mobilize data in a transformative and compliant way. The NOW product suite enables the creation of high-value VI capabilities that are predictive in nature and drive automation specific to each industry vertical. The company was founded in 2018 and is rapidly growing organically and through targeted acquisitions. For more information about NOW, visit www.nowvertical.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Follow us on: Twitter and LinkedIn,

For further information, please contact:

Daren Trousdell, Chief Executive Officer
e: daren@nowvertical.com

t: (212) 302-0868

Glen Nelson, Investor Relations

e: glen@nowvertical.com

t: (403) 763-9797

TORONTO, Ontario – November 3, 2022 /Globe Newswire/ – NowVertical Group Inc. (TSX-V: NOW) (“NOW” or the “Company”), the vertical intelligence (VI) software and solutions company, will announce its 2022 third quarter financial results on Wednesday, November 16, 2022, after the market close, followed by a webinar at 9:30 AM EDT (6:30 AM PDT) on Thursday, November 17, 2022 to discuss the Company’s financial and business results and outlook.

NOW invites shareholders, analysts, investors, media representatives, and other stakeholders to attend our upcoming webinar, where Daren Trousdell, Chief Executive Officer, will discuss Q3 2022 results, followed by a question-and-answer session.

Investor Webinar Registration
Register here: https://bit.ly/NOW-Q3-Registration

A recording of the webinar and supporting materials will be made available in the investor’s section of the company’s website at https://nowvertical.com/news-and-media

Related links:

https://www.nowvertical.com

About NowVertical Group Inc.

NowVertical Group is the vertical intelligence (VI) software and solutions company that helps organizations make bold decisions with confidence. NOW’s proprietary VI solutions, organized by industry vertical, are built upon a foundational set of data technologies that fuse, secure, and mobilize data in a transformative and compliant way. The NOW product suite enables the creation of high-value VI capabilities that are predictive in nature and drive automation specific to each industry vertical. The company was founded in 2018 and is rapidly growing organically and through targeted acquisitions. For more information about NOW, visit www.nowvertical.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Follow us on: Twitter and LinkedIn,

For further information, please contact:

Daren Trousdell, Chief Executive Officer
e: daren@nowvertical.com

t: (212) 302-0868

Glen Nelson, Investor Relations

e: glen@nowvertical.com

t: (403) 763-9797