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Investor Presentaiton

Solid Q2 2023 with significant margin expansion Revenue Year over Year Rule of 40 Year over Year¹ $6.0 ($3.8) $271.0 $264.9 $3.9 Q2 2022 Revenue Contractual Recurring Revenue Transactional Revenue One-time Services & Other Revenue Q2 2023 Revenue Contractual recurring revenue • • Transactional revenue • 31.9% 36.1% Q2 2022 Q2 2023 Renewal pricing initiative continues to perform well Expect contractual recurring revenue growth acceleration through second half of year as we pass seasonal renewal high in June/July and renewal price increases begin to compound Continued strong performance from Tuition Management and Just Giving in quarter BBMS rate change bolstering donation processing revenue Rule of 40 Highlights: • Four-point YoY improvement in Rule of 40 performance driven by significant adjusted EBITDA margin expansion Expect further Rule of 40 improvement through the second half of 2023 as renewal pricing initiatives compound and revenue growth accelerates One-time services & other revenue • • Approximately 3% of total revenues in quarter, in line with intentional shift in mix toward higher margin recurring revenues More than one point of drag on organic revenue growth in the quarter • Targeting 36.5% on Rule of 40 performance at the midpoint of 2023 FY financial guidance, which will be a seven and a half-point improvement over 2022 1 Non-GAAP performance through 6/30/23. Rule of 40 at constant currency measured by non-GAAP organic revenue growth on constant currency basis plus non-GAAP Adjusted EBITDA margin shown on constant currency basis. Non-GAAP adjusted EBITDA is defined as GAAP net income plus interest, net; income tax provision (benefit); depreciation; amortization of intangible assets from business combinations; amortization of software and content development costs; stock-based compensation; acquisition and disposition-related costs; employee severance; restructuring and other real estate activities; costs, net of insurance, related to the previously disclosed security incident discovered in May 2020 (the "Security Incident" 24 and impairment of capitalized software development costs. Please refer to the appendix of this presentation. مـ
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