Slide 1: Fourth Quarter and Full Year 2020 Results
F O U R T H Q U A R T E R A N D F U L L Y E A R 2 0 2 0 R E S U LT S F E B R U A R Y 1 2 , 2 0 2 1
Slide 2: Safe Harbor for Forward-Looking Statements
Safe Harbor for Forward-Looking Statements Certain statements in this presentation are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, particularly those regarding our 2021 Financial Guidance. Such forward-looking statements are subject to num
Slide 3: Risk Factors
Risk Factors The following factors, among others, could cause our business, prospects, financial condition, operating results and cash flows to be materially adversely affected: • Inability to sustain growth or profitability, and any related impact of U.S. or worldwide economic issues on customer ac
Slide 4: Q4 2020 Consolidated Financial Snapshot
Q4 2020 Consolidated Financial Snapshot (1) See slides 17, and 19-23 for a GAAP to non-GAAP reconciliation of adjusted gross profit, adjusted EBITDA and adjusted earnings per diluted share for the Company as a whole and by Business for Q4 2020 4 (2) Figures are adjusted non-GAAP
Slide 5: FY 2020 Consolidated Financial Snapshot
FY 2020 Consolidated Financial Snapshot (1) See slides 17, and 19-23 for a GAAP to non-GAAP reconciliation of adjusted gross profit, adjusted EBITDA and adjusted earnings per diluted share for the Company as a whole and by Business for FY 2020 5 (2) Figures are adjusted non-GAAP
Slide 6: Adjusted EBITDA and Free Cash Flow
Adjusted EBITDA and Free Cash Flow (1) (1) See slides 18 and 19 for a GAAP reconciliation of Free Cash Flow and adjusted EBITDA (2) Figures are adjusted non-GAAP 6
Slide 7: Q4 2020 Financial Snapshot By Business
Q4 2020 Financial Snapshot By Business (1) Figures are adjusted non-GAAP 7 (2) See slides 20 and 21 for a GAAP reconciliation of adjusted EBITDA for the Company as a whole and by Business for Q4 2020
Slide 8: FY 2020 Financial Snapshot By Business
FY 2020 Financial Snapshot By Business (1) Figures are adjusted non-GAAP 8 (2) See slides 22 and 23 for a GAAP reconciliation of adjusted EBITDA for the Company as a whole and by Business for FY 2020
Slide 9: 2021 Financial Guidance
(2021 FINANCIAL GUIDANCE
Slide 10: 2021 Outlook (Forward-Looking Statements)
2021 Outlook (Forward-Looking Statements) Our guidance is exclusive of the B2B backup assets and, for comparative purposes to 2020, also excludes our previously sold UK and ANZ Voice assets Cloud Services • Excludes B2B Backup and Voice UK assets • Revenue growth expected to be ~3% • Adjusted EBITDA
Slide 11: 2021 Guidance (Forward-Looking Statements)
2021 Guidance (Forward-Looking Statements) (1)(2)(3) Our annual guidance of Revenues, Adjusted EBITDA and Adjusted non-GAAP EPS FY 2020 Excluded Non-GAAP Actuals Assets Pro-Forma Revenue ($MM) $1,490 ($68) $1,422 Adjusted EBITDA ($MM) $616 ($26) $590 Adjusted Non-GAAP EPS $8.18 ($0.38) $7.80 J2 FY 2
Slide 12: Pro-Forma Performance
Pro-Forma(1) Performance EBITDA Margin 42% 40% 40% 42% 40% (1) 2017-2020 figures are pro-forma (unaudited) for the exclusion of certain assets within Voice ANZ, Voice UK, and B2B Backup; see slide 24 for reconciliation from Actuals to Pro-Forma (2) Revenue cannot be reconciled to GAAP as it is unkno
Slide 13: Supplemental Information
"SUPPLEMENTAL INFORMATION
Slide 14: Consolidated Metrics
Consolidated Metrics (1) See slide 17 for a reconciliation of adjusted non-GAAP earnings and EPS to GAAP Net Income and diluted GAAP EPS (2) See slide 18 for a definition of Free Cash Flow and reconciliation to Net Cash Provided by Operating Activities (3) See slide 19 for a definition of adjusted E
Slide 15: Cloud Services & Digital Media Metrics
Cloud Services & Digital Media Metrics 2018 2019 2020 Cloud Services Metrics Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Revenue by Type |----------------------(in '000s)----------------------| Fixed Subscriber Revenues (1) $120,840 $123,648 $123,111 $121,350 $124,309 $140,352 $141,832 $142,420 $141,486 $14
Slide 16: Return on Invested Capital (ROIC) Calculation
Return on Invested Capital (ROIC) Calculation (3) Cumulative Cumulative Invested (3) (4) ROIC FCF / Cumulative Adjusted Free Cash ROIC FCF / IEC & Net Spend / Adjusted FCF (3) since Equity Capital (IEC (4) & Net Spend (1) EBITDA (2)(3) (3) Flow (FCF) (3) (4) IEC (4) Debt (5) (in Millions) EBITDA 200
Slide 17: Q4 and FY 2020 Reconciliation of GAAP to Adjusted Non-GAAP Earnings & EPS
Q4 and FY 2020 Reconciliation of GAAP to Adjusted Non-GAAP Earnings & EPS(1) Non-GAAP net income is GAAP net income with the following modifications: (1) elimination of share-based compensation; (2) elimination of certain acquisition related integration costs; (3) elimination of interest costs in ex
Slide 18: GAAP Reconciliation - Free Cash Flow
GAAP Reconciliation - Free Cash Flow(1)(2) (1) Free Cash Flow is defined as net cash provided by operating activities, less purchases of property, plant and equipment, plus excess tax benefits (deficits) from share based compensation, plus IRS settlement, plus contingent consideration. Free Cash Flo
Slide 19: GAAP Reconciliation - Adjusted EBITDA
GAAP Reconciliation - Adjusted EBITDA (1)(2) (Figures in Millions) (1) Adjusted EBITDA is defined as net income plus interest and other expense, net; income tax expense; depreciation and amortization and the items used to reconcile GAAP to Adjusted Non-GAAP EPS. Adjusted EBITDA amounts are not meant
Slide 20: Q4 2020 Reconciliation of GAAP to Adjusted EBITDA
Q4 2020 Reconciliation of GAAP to Adjusted EBITDA(1) NOTE 1: Table above excludes certain intercompany allocations (1) Figures are adjusted non-GAAP 20
Slide 21: Q4 2019 Reconciliation of GAAP to Adjusted EBITDA
Q4 2019 Reconciliation of GAAP to Adjusted EBITDA(1) NOTE 1: Table above excludes certain intercompany allocations NOTE 2: Table above has been recast to remove the impact of certain expenses associated with the Corporate entity that were previously allocated to the Cloud Services and Digital Media
Slide 22: FY 2020 Reconciliation of GAAP to Adjusted EBITDA
FY 2020 Reconciliation of GAAP to Adjusted EBITDA(1) NOTE 1: Table above excludes certain intercompany allocations NOTE 2: Table above has been recast to remove the impact of certain expenses associated with the Corporate entity that were previously allocated to the Cloud Services and Digital Media
Slide 23: FY 2019 Reconciliation of GAAP to Adjusted EBITDA
FY 2019 Reconciliation of GAAP to Adjusted EBITDA(1) NOTE 1: Table above excludes certain intercompany allocations NOTE 2: Table above has been recast to remove the impact of certain expenses associated with the Corporate entity that were previously allocated to the Cloud Services and Digital Media
Slide 24: Reconciliation of Non-GAAP to Pro-Forma
Reconciliation of Non-GAAP to Pro-Forma (Figures in Thousands, except per share amounts) 2017A 2018A 2019A 2020A Stated Revenues $1,117.8 $1,207.3 $1,372.1 $1,489.6 (1) Adjustments (143.1) (95.1) (84.4) (67.9) Pro-forma Total 974.7 1,112.2 1,287.7 1,421.7 Stated EBITDA 463.0 489.5 550.3 615.7 (1) Ad
Slide 25: J2 Global
J2 GLOBAL