Analyst Day Presentation

58 59 4. 2 2. PROFITABILITY ACCELERATION: Adjusted EBITDA Revenue $1.4 % Growth 2018A 1. Gross Profit P&L SUMMARY % Gross Margin -9,2% Adjusted EBITDA % Morgin 2019A ($5.2) Acceleration of investments mostly in R&D and SAM following investment round from GS No quantitative reconciliation of EBITDA to the most directly comparable GAAP financial measure has been provided for projections because management cannot reliably predict all of the necessary components of the GAAP financial measure without unreasonable effort Adjusted EBITDA indudes add-back of stockebased compensation from 2018-2020, stock-based compensation not projected for 2021-2023 2018A $48.4 11.0% $2.6 $39.0 80.6% 2030A Historical Financials $14 2.9% Audited 2019A $56.3 16.3% $45.8 81.3% ($5.2) -9,2% Adjusted EBITDA 2020A $68.8 2021E 7,6% 22.2% $56.4 $2.6 3.8% $34.6 19.5% 12.0% 1 $15.6 2021E $94.8 37.8% $76.8 81.0% 2022E $7.2 7,6% Projections 2022E $130.1 37.2% $105.4 81.0% $15.6 12.0% 2023E No quantitative reconciliation of EBITDA to the most directly comparable GAAP financial measure has been provided for projections because management cannot reliably predict all of the necessary components of the GAAP finandal measure without unreasonable effort 2. Adjusted EBITDA indudes add-back of stock-based compensation from 2018-2020, stock-based compensation not projected for 2021-2023 2023E $177.3 36.3% $143.6 81,0% 82% -85% $34.6 Long-Term Margins 19.5% 35% 35.0% Long-term ($ in millions) INNOVID ($ in millions) INNOVID

View entire presentation