Aurora Investment: Better Overview slide image

Aurora Investment: Better Overview

Highly attractive initial valuation EV / 2022E Revenue EV/2022E Revenue / 2022E Growth 2020A 2022E - Revenue CAGR 2.5x 8.5x 13.0x 6.9x 3.8x Better PropTech doma Hippo² Tech-Driven Lenders SoFiOpenLending affirm Sunlight Financial Upstart Real Estate Technology BLACK KNIGHT CoreLogic Leading Mortgage ROCKET Companies, Inc. EV / 2022E EBITDA Better 0.03x 75.2% 9.4x Better EV / 2022E EBITDA / 2022E Growth 0.04x 2020A 2022E EBITDA CAGR 55.9% 0.21x 32.6% 0.38x 55.4% 36.2x NM PropTech doma Hippo Tech-Driven Lenders SoFi OpenLending affirm Sunlight Financial Upstart BLACK NM NM Note: multiples presented are solely based on the logos shown in each category and do not represent a broader index. Source: FactSet, company filings. Market data as of May 7, 2021. 1. Represents EV / Retained Premiums and Fees. 2. Represents EV / Earned Premiums. 0.97x 81.8% 1.83x NM 7.5% (21.0%) 15.6x 8.7x Real Estate Technology KNIGHT CoreLogic Leading Mortgage ROCKET Companies, Inc. 3.18x 5.3% NM (37.7%) 36
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