Tempo SPAC Presentation Deck
Operating Leverage - Organic Non-GAAP Gross Margin
1,2
NON-GAAP COST OF GOODS SOLD ($) AND NON-GAAP GROSS MARGIN (%) ¹,²
$ IN MILLIONS
NON-GAAP GROSS MARGIN
OVERHEAD
42%
$85
$18
$24
$42
2021E
DIRECT LABOR
DIRECT MATERIALS
48%
$92
$21
$27
$44
2022E
51%
$107
$22
$31
$54
2023E
55%
$122
$23
$35
$64
2024E
59%
$136
$25
$38
$72
2025E
OVERHEAD
Improved overhead costs with combination
synergies and increased economies of scale
DIRECT LABOR AND
DIRECT MATERIALS
Lower labor costs and better yields from
implementation and continued development of
Tempo's platform (software and equipment)
Vertical integration synergies realized by
insourcing PCB spend
Source: Management Projections.
Tr
1 Pro forma (PF) figures include the acquisitions of Compass AC Holdings, Inc. ("Advanced Circuits" or "AC") and Whizz Systems, Inc. ("Whizz Systems" or "Whizz") which are expected to close substantially concurrently with the SPAC business combination
and exclude estimates of additional future acquisitions.
2 Non-GAAP Cost of Goods Sold and non-GAAP gross margin exclude stock-based compensation and non-recurring transaction related expenses incurred and forecasted in 2021.
OCTOBER 2021 38
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