Akerna Investor Presentation
Strategic Rationale
trellis + KERNA
CORP.
STRATEGIC FIT
PRODUCT FIT
CUSTOMER FIT
SYNERGIES
DEAL ECONOMICS
POSITIVE CASH FLOW
EXECUTING AKERNA'S
M&A STRATEGY
Expands Akerna's TAM into SMB cultivation market and strengthens Akerna's
footprint in California
Rapid product integration into Akerna's "Compliance Bus" enables Akerna to
scale Trellis outside California, accelerating Trellis' growth
With SMB and larger single-state operators, Trellis customers funnel to
Akerna's enterprise solution as their scale and needs continue to grow
Leveraging Akerna's product development & sales infrastructure drives faster
and more efficient growth
1.8x 2019 revenue multiple is highly accretive to Akerna, demonstrating
substantial multiple arbitrage opportunity
Trellis contributes positive cash flow immediately post-integration
Taking advantage of our capital markets advantage, Akerna is able to acquire
attractive technology while the private financing environment is challenged
A
LO
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