S2P Case Study
Corcentric financial summary
($M)
2019A
2020A
2021E
2022E
2023E
Software revenue
$22
$31
$34
$38
$43
% growth
129%
42%
10%
12%
13%
Payments revenue
$51
$50
$61
$84
$118
% growth
7%
(3%)
23%
38%
39%
Advisory revenue
$28
$20
$22
$26
$29
% growth
38%
(28%)
11%
18%
10%
Total Adj. revenue¹
$101
$100
$117
$149
$190
% growth
30%
(0%)
16%
27%
28%
Adj. Gross Profit
$71
$70
$78
$103
$139
% margin
71%
69%
67%
69%
73%
Adj. EBITDA
$32
$27
$28
$42
$63
% margin
31%
27%
24%
28%
33%
Capex
$11
$14
$16
$17
$19
% Adj. Revenue
11%
14%
13%
12%
10%
corcentric Source: Company materials
37
37
Note: Adj. revenue, Adj. Gross profit and Adj. EBITDA are non-GAAP financial measures; see pages 38 - 40 for a reconciliation to the GAAP equivalent measures
(1) Total Adj. revenue does not equal to sum of individual segments due to roundingView entire presentation