System1 SPAC Presentation Deck
Acquisition of Protected Drives Our Subscription
Business
Customer Count
S1
(in millions)
0.9
2018
#1
'18-'1H 21 CAGR: 46%
1.2
2019
1.9
2020
2.2
YTD 9/30/21
System1 has been investor &
partner since 2018
Subscription Billings
($ in millions)
#2
$180
$150
$120
$90
$60
$30
$0
2017
2016 2017 2018 2019 2020 2021
'18-'21 CAGR: 65%
2018
2019
2020
Prior period investments in
customer acquisition
provides revenue lift in 2021
and beyond
2021
#3
~70% from
customers
acquired in
prior years
Subscription Gross Profit
Highly Predictable Recurring Revenue Model
Strong pipeline of new
subscription products
provides platform for long-
term growth
($ in millions)
($17)
2018
#4
($12)
2019
($2)
2020
$33
YTD 9/30/21
Became profitable on a
billings basis in Q4 20
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