Slide 1: Third Quarter 2016 Summary
Third Quarter 2016 Summary November 4, 2016
Slide 2: Safe Harbor Statement
2 This presentation contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include information concern
Slide 3: Non-GAAP Financial Measures
In addition to reporting financial results in accordance with GAAP, we also refer to adjusted EBITDA, non-GAAP net income, revenue growth on a fixed-currency basis and free cash flow. We define adjusted EBITDA as net income adjusted for foreign currency transaction gains and losses, changes in fair
Slide 4: The Leading Global Marketplace for Stock Content
The Leading Global Marketplace for Stock Content Contributors Photographers Illustrators Videographers Musicians Customers Designers Businesses Marketing Agencies Media Organizations 4
Slide 5: Q3'16 Financial Highlights
• Revenue increased 15% to $123.1 million, primarily driven by new customers and an increase in paid downloads • Excluding the impact of currency, revenue increased 17% • Income from Operations increased 40% to $11.3 million • Net Income available to common stockholders increased 129% to $9.4 millio
Slide 6: Q3'16 Operating Highlights
• Image library expanded 61% to 102.7 million images • Video library expanded 64% to 5.4 million video clips • Paid downloads grew 8% to 41.2 million • Revenue per download of $2.91, up 8% excluding the impact of foreign currency movements • More than 1.6 million customers contributed to revenue in
Slide 7: Consolidated Financial Results
Consolidated Financial Results ($ in millions) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 % 2016 2015 % Total Revenues $123.1 $107.3 15% $364.1 $309.1 18% Total Expenses 113.7 103.2 10% 341.4 296.5 15% Net Income 9.4 4.1 129% 22.8 12.7 80% Add: Other Income / (Expense
Slide 8: Free Cash Flow
Free Cash Flow ($ in millions) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net Cash From Operations $35.1 $19.4 $76.7 $59.4 CapEx and Content Acquisitions (15.2) (4.5) (33.0) (12.1) Free Cash Flow $19.9 $14.8 $43.8 $47.4 8 Note -Totals may not sum exactly due
Slide 9: Non-GAAP Net Income
Non-GAAP Net Income ($ in millions) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net Income $9.4 $4.1 $22.8 $12.7 Add: Non-Cash Equity-Based Comp 6.5 7.7 21.1 22.8 Add: Acquisition-Related Amortization 1.1 1.2 3.3 3.3 Add: Change in Fair Value of Contingent Co
Slide 10: 2016 Guidance
2016 Guidance 2016 Guidance Implied Y/Y Growth Revenue $495 - $510 million 17% - 20% Income from Operations $43 - $51 million 5% – 24% Adjusted EBITDA $95 - $100 million 12% - 18% Non-Cash Equity Based Comp. $28 - $33 million Capital Expenditures $40 - $45 million 2016 Guidance Numbers Assume End of