Topps SPAC Presentation Deck
Segment Financial Information
33
($ in millions)
Physical Sports and Entertainment
Digital Sports and Entertainment
Gift Cards
Confections
Total Revenue
% growth
Sports and Entertainment(b)
Adj EBITDA Margin
Confections(b)
Adj EBITDA Margin
Corporate Expenses
Public Company Costs
Pro Forma Adjusted EBITDA (b)
% margin
% growth
2019A 2020A
210
18
13
219
$460
2%
32
13%
42
19%
(23)
$51
11%
31%
314
31
24
198
$567
23%
88
24%
39
20%
(26)
(9)
$92
16%
79%
2021E(a) 2022E(a)
398
41
28
225
$692
22%
103
22%
41
18%
(31)
(9)
$105
15%
14%
454
51
37
236
$777
12%
118
22%
41
17%
(35)
(9)
$115
15%
10%
'19A - '22E CAGR
29%
40%
42%
3%
19%
54%
(1%)
31%
Note: Confections and S&E Adj. EBITDA margins do not include an allocation of corporate expenses. Pro forma Adj. EBITDA and margins include the pro forma impact of estimated annualized public
company costs for 2020A - 2022E. 2019 pro forma Adj. EBITDA and margin excludes the burden of public company costs.
(a) Projections use Topps management estimates. With respect to projections, see slide 1 "Use of Projections" under "Disclaimer."
(b)
With respect to Non-GAAP financial measures, see slide 1 "Non-GAAP Financial Measures" under "Disclaimer" and reconciliation set forth in Appendix slide 34.
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