Investor Presentaiton
FINANCIAL SUMMARY (MIDPOINTS OF GUIDANCE RANGE)
2020E -
($ millions)
2017A
2018A
2019A
YTD August
2020
2020E
2021E
2022E
2023E
2023E
CAGR
LT Target¹
Revenue
$44
$58
$102
$74
$110
$356
$945
$1,540 - $1,700
145%
~90%-105%
% growth
32.4%
75.6%
7.5%
223.2%
165.1%
60% - 80%
Gross Profit
~105%-120%
$6
$6
$9
$8
$12
$43
$121
$200 - $250
164%
% margin
12.6%
9.7%
8.5%
10.5%
11.1%
12.0%
12.9%
13% - 15%
~15% -17%
EBITDA²
($2)
($6)
($11)
($1)
($3)
($45)
$10
$70 - $110
% margin
(4.0%)
(9.4%)
(11.0%)
(1.5%)
(2.4%)
(12.6%)
1.1%
5%-6%
~9% -11%
Recurring capex
$0
$0
$0
$0
$0
$0
$0
$0
% revenue
0.5%
0.8%
0.2%
0.0%
0.4%
0.0%
0.0%
0.0%
FCF (EBITDA less
($2)
($6)
($11)
($1)
($3)
($45)
$10
$70 - $110
recurring capex)
% conversion
NM
NM
NM
NM
NM
NM
NM
Non-recurring capex
funded from
$0
$0
$0
$0
$0
$67
$55
Transaction proceeds³
38
Note: These projections are for illustrative purposes and should not be relied upon as being necessarily indicative of future results. Non-GAAP financial measures such as EBITDA, EBITDA margin, FCF, and FCF
percentage conversion are presented without due to the inherent difficulty of forecasting and quantifying certain amounts that are necessary for such reconciliation. 1 LT Target refers to 2020E-2025E period.
2 Includes add back of management fees expenses in 2017 - 2019. 3 2021E and 2022E capital expenditures include a total of $56 million and $44 million of technology capital expenditures, respectively.
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