Benson Hill Investor Day Presentation Deck
2022 Financial Outlook
(in $M)
Total Revenue
Ingredients
Fresh
Total Gross Profit
OpEx
Total Adjusted
EBITDA
2022
(Original Guidance)(1)
$161
$91
$66
$2
$111
($87)
$41
2022
(Current Guidance)
FINANCIAL DISCUSSION
$315-$350
$250-$275
$65-$75
$9-$13
$135-$140(2)
($80-$85)(3)
Capex
Free Cash Flow
N/A
(1) Guidance at time of SPAC merger announcement (May 2021).
(2) Includes an estimated $36 million in non-cash expense consisting of $21 million for
stock-based compensation and $15 million for depreciation and amortization.
(3) See reconciliation table in the appendix
$12-$16
($120-$130)(3)
2022 Expectations
Revenue
>100% year-over-year growth
• Total and organic Ingredients revenue growth of >175%
and >65%, respectively, driven by:
- $90-$100mm legacy revenue from Creston acquisition
$70-$80mm proprietary soy ingredients revenue
Gross margin improvement
Expanded soy portfolio and reduction in tolling
costs, partially offset by compressed margins in Fresh
segment
Focus on free cash flow by disciplined capex investment,
cash operating expenses and working capital usage
Creston acquisition accelerates integrated capability to
commercialize proprietary soybean portfolio and reduces
CapEx (2021 and 2022)View entire presentation