Investor Presentaiton
Multiple Efficiencies Driving Margin Improvement
Bridger is Primed to
Recognize Margin
Optimization as the
Fleet Expands
Source: Bridger management estimates
(1)
See Slide 41 for a reconciliation of 2021 Adjusted EBITDA to GAAP net income.
Cost (% Revenue)
Revenue ($)
~27% Adj.
EBITDA Margin
~57% Adj.
EBITDA Margin
Bridger is at an inflection point where margins are expected to
continue to increase due to high-capacity utilization, fleet expansion
and the benefit of prior cost incurrence
The Bridger business creates a significant amount of operating
leverage
2021A (1)
2023E
Building Blocks of Increasing Margin
Platform
Bridger offers a market leading platform in
wildfire management with a modern fleet
and long-standing federal and state agency
relationships
Scaled Admin.
Operating and administrative expenses are
not expected to scale in-line with the fleet
size
Increased Demand
A
Bridger is expected to continue to
command above-average flight hour
and standby day rates due to a superior
product offering
Unit Efficiency
Fire suppression expertise and a robust
maintenance and training program are
anticipated to create cost efficiencies for
fleet management
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