OppFi Investor Presentation Deck
36
Upstart, Katapult and Affirm: Financial Comparison
OppFi***
$323 million
2020A Revenue
2020A Adj. EBITDA
Margin
¹18A¹20A Revenue
CAGR
Product
Market Cap
2021P TEV / EBITDA
2022P TEV / EBITDA
2021P P/E
2022P P/E
1
1
+
1
31%
55%
11 months, $1,500
-$800 million
6.9x
5.0x
12.2x
9.1x
Upstart Katapult affirm
$233 million
13%
53%
3 to 5 years, $1,000 to
$50,000
-$8 billion
>50x
>50x
>50x
>50x
$250 million
2. Equity value based on FSRV clasing share price multiplied by pro forma luty diuled share outstanding of 962mm. Based on company investor presentation dated 12/1820
3. Based on Adj. Operating Loss
4 Represents revenue CAGR from fiscal you anding June 30, 2019 through betwelve months onding December 31, 2020
16%
141%
10 to 18 months, $100 to
$3,500
-$1.1 billion
15.6x
7.2x
22.9x
11.4x
$670 million
Negative EBITDA³
86%4
6 weeks to 48 months, up
to $17,500
-$17 billion
Negative EBITDA
Negative EBITDA
Negative Net Income
Negative Net Income
Source Company Flings. Wall Scout Research, Market
5/11/21
Nain: Enterprise Value includes corporate and operational debit and excludes dobt and cash asributable to VIES Projections represent mean Thomson consensus eximinos
1. Ad. EBTDA and Ad. Net Income pro form for for market value accounting and include anticipated recurring public company cos 2021 projections include impact of recent addisonal government simulues and assume a corresponding return to pre COVD demand by the beginning of
00 2021, Market Cap excludes any impact of working capita aqusiness a dose as well as impact of 56 million Sponsor warrants struck at $11.50 and $15.00 -11.9 million Public Warrants stuck $11.50 and 25.5 million eller amous share med at the pricehudies of
$12:00, $10.00
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