Slide 1: 2024 First Quarter Earnings Presentation
2024 First Quarter Earnings Presentation MAY 7, 2024
Slide 2: Disclaimer
2024 FIRST QUARTER EARNINGS PRESENTATION 2 Disclaimer This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this presentation that do not relate to maers of historical fact sh
Slide 3: 1Q 2024 Performance Highlights
2024 FIRST QUARTER EARNINGS PRESENTATION 3 1Q 2024 Performance Highlights Revenue1 and % Composition Payor Sessions2 Adjusted EBITDA3 USD, Millions Thousands USD, Millions $50 300 $5 $45.4 $40 $7.0 15% $33.3 $0.8 $9.9 $0 $30 22% $9.8 30% 150 284 ($6.4) $20 $8.7 26% 172 ($5) $64 $28.5 $64 54% 63% 54%
Slide 4: 1Q 2024 Business Highlights
2024 FIRST QUARTER EARNINGS PRESENTATION 4 1Q 2024 Business Highlights First Quarter of Adjusted EBITDA1 Profitability Continued Strong Payor Progress ● Adjusted EBITDA1 of $0.8M ● Payor Revenue increased 92% year-over-year and 12% ● Achieved profitability for first time in history sequentially ● Reven
Slide 5: Revenue and Gross Profit
2024 FIRST QUARTER EARNINGS PRESENTATION 5 Revenue and Gross Profit USD, Millions Revenue USD, Millions Gross Profit and % Margin $50 $45 .4 $25 $21.7 $45 $42.4 $21.0 $7.0 $40 $38.6 $8.2 $20 $18.8 65% $35.6 $17.8 $35 $8.5 $9.9 $16.7 60% $33.3 $9.1 $8.9 $30 $15 $8.0 55% $25 $9.8 $8.0 50.2% 50.0% 50% $
Slide 6: Operating Expense and Adjusted EBITDA
2024 FIRST QUARTER EARNINGS PRESENTATION 6 Operating Expense and Adjusted EBITDA1 USD, Millions Operating Expenses Adjusted EBITDA1 $30 70% USD, Millions 62% 57% $2 51% $25.8 47% $25 $24.2 $24.0 $0.8 $2.3 $23.6 $23.4 $2.1 $2.0 $0 $2.0 $2.3 $(0.3) $20 $(2) $(2.8) $15 $23.5 $22.1 $22.1 $21.6 $21.2 $(4
Slide 7: 2024 Guidance Unchanged
2024 FIRST QUARTER EARNINGS PRESENTATION 7 2024 Guidance1 Unchanged Revenue Adjusted EBITDA2 Building mental fitness ~ $185M to $195M $4M to $8M +23% to +30% Y/Y Reduce stress, build resilience, and increase self-understanding with self-guided courses, online classes, reflections and journal prompts +
Slide 8: Strong Long-Term Growth Plan
2024 FIRST QUARTER EARNINGS PRESENTATION 8 Strong Long-Term Growth Plan Continued DTE Grow Covered Lives Grow Capture Rate momentum with teens Launch needle-moving Pioneer investments Grow Revenue strategic partnerships in clinical A.I. tools Grow Profitability
Slide 9: Appendix
2024 FIRST QUARTER EARNINGS PRESENTATION 9 Appendix
Slide 10: Non-GAAP Financial Measures
2024 FIRST QUARTER EARNINGS PRESENTATION 10 Non-GAAP Financial Measures In addition to our financial results determined in accordance with GAAP, we believe adjusted EBITDA, a non-GAAP measure, is useful in evaluating our operating performance, and our management uses it as a key performance measure t
Slide 11: Reconciliation of Net Loss to Adjusted EBITDA
2024 FIRST QUARTER EARNINGS PRESENTATION 11 Reconciliation of Net Loss to Adjusted EBITDA Adjusted EBITDA We calculate adjusted EBITDA as net loss adjusted to exclude (i) depreciation and amortization, (ii) interest and other expenses (income), net, (iii) tax benefit and expense, (iv) stock-based com