Investor Presentation
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Key Financial Metrics (Cont'd)
Capital Expenditures
$3.8
$3.4
$3.0
$1.5
$4.2
$3.6
$2.7
$4.2
$4.6
$5.7
mil
Q1
Q2
Q3 Q4 Q1
2019 2019 2019 2019 2020
Q2
2020
Q1
$4.5
Q3 Q4
Q2
Q3
2020 2020 2021 2021 2021
Commentary
■ Brinks is an asset-light business with minimal
capital expenditure requirements
■ SAC is largely discretionary, and management is
focused on reducing SAC per acquired customer
○ Achieved the lowest subscriber acquisition cost in
over two years in Q1 of 2021
■ Q2 2020 and Q4 2020 included bulk buys of Protect
America and Select Security
Subscriber Acquisition Costs
$42
$42
$39
$35
$36
$2
$8
$31
$8
$6
$28 $28
$26
$27
$3 $22
$16
$9
$6
$2
$8
$40
$4
$30
$33
$31
$20
$22
$24
$28
$17
$19
$20
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
2019 2019 2019
2019
2020 2020
2020 2020 2021
2021
2021
■Capitalized SAC
■Expensed SAC
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