Xbp Global Holdings, Inc. · NASDAQ:XBP

Xbp Global — XBP Europe Holdings — Q2 2024 Earnings Presentation

15 slides from Xbp Global's earnings presentation, Aug 12, 2024

  1. Slide 1: Second Quarter 2024 Results

    Second Quarter 2024 Results August 12, 2024 ©XBP EUROPE 2024

  2. Slide 2: Safe Harbor Statements

    Safe Harbor Statements Forward-Looking Statements: Certain statements included in this presentation are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward- looking statements generally

  3. Slide 3: About XBP Europe: Who, Where, Why & What

    About XBP Europe Who, Where, Why & What Who Where XBP Europe Holdings, Inc. (Nasdaq: XBP, XBPEW), is a pan-European Secure hybrid cloud infrastructure enables XBP Europe to integrator of bills, payments, and related solutions and services seeking deploy its solutions to clients across the European m

  4. Slide 4: XBP Europe product suites - Summary

    XBP Europe product suites - Summary Banking & Finance Enterprise Information Finance & Accounting Cloud & AI powered Cyber One of largest non-bank processors Management Enhanced invoicing, Security of payments in Europe Scan, process, digitize payments, reporting, analysis documents and get usable d

  5. Slide 5: We serve a diversified base of public and private sector customers

    We serve a diversified base of public and private sector customers Industry Specific and Industry Agnostic Enterprise Software and Services Large Enterprises and Small Financial Institutions, Banks & Insurance Governments & Public Sector Businesses Finance Departments Companies Organizations [F&A, E

  6. Slide 6: 2Q 2024 Financial Summary and Highlights

    2Q 2024 Financial Summary and Highlights ©XBP EUROPE 2024 6

  7. Slide 7: 2Q 2024 at a Glance

    2Q 2024 at a Glance Revenue Gross Margin SG&A Operating Profit Adj EBITDA1 $36.1M 18.4% $6.9M $(2.4)M $0.3M YoY -14.8% YoY -9.2% YoY -15.6% YoY -$3.8M YoY -$3.7M Sequentially -10.5% Sequentially -6.3% Sequentially -13.1% Sequentially -$2.5M Sequentially -$1.5M Active Revenue Ramps Technology segment

  8. Slide 8: 2Q 2024 Financial Highlights

    2Q 2024 Financial Highlights 2Q 2024 1Q 2024 2Q 2023 YoY QoQ • Softer 2Q24 top and bottom line Revenue, net $ 36,112 $ 40,350 $ 42,367 -14.8% -10.5% primarily driven by slower ramp-up of Operating Profit (2,413) 71 1,427 NM NM large public sector contracts Net Loss Before Tax (4,181) (1,748) (173) N

  9. Slide 9: Segment Profitability

    Segment Profitability • Technology segment YoY decline primarily driven by a large one-time license sale in 2023 • Bills & Payments gross margin declined YoY due in part to client delays; however, ramp of recently launched large-scale projects combined with increased operating leverage are expected

  10. Slide 10: Appendix

    Appendix ©XBP EUROPE 2024 10

  11. Slide 11: Our presence in EMEA

    Our presence in EMEA XBP Europe Solutions reach majority of populations in key markets. The Company processed several hundred million payment transactions in 2023. Pan-European Presence Norway 15 Countries1 (population 5 million) process 100% of bank giro 32 Locations Sweden (population 10 million)

  12. Slide 12: $167M FY2023 Revenue: Client and industry diversification

    Client and industry diversification $167M FY2023 Revenue 3% - Top client 11% 22% Northern Top 2 -10 Europe Technology 27% 18% 13% UK & Top 11 - 20 Ireland 22% Top 21 - 50 31% Central Europe Bills and Payments 73% 40% 40% All Other Western Europe Diversified client Geography Services & 12 base Produc

  13. Slide 13: Adjusted EBITDA Reconciliation

    Adjusted EBITDA Reconciliation ($ in thousands) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 FY 2022 FY 2023 YTD 2023 Net Loss ($2,506) ($558) ($2,887) ($5,097) ($2,208) ($4,723) ($7,929) ($11,047) ($6,931) Income tax expense 92 385 1,046 (917) 460 542 2,562 606 1,002 Interest expense including r

  14. Slide 14: Non-GAAP Reconciliation

    Non-GAAP Reconciliation (1) Constant currency excludes the impact of foreign currency fluctuations and is computed by applying the average exchange rates for the quarter ended June 30, 2023, to the revenues during the corresponding period in 2024. (1) Adjustment represents costs associated with rest

  15. Slide 15: Defined Terms in Presentation and Notes

    Defined Terms in Presentation and Notes • ACV: Annual contract value in dollars • Gross Margin: Total revenue less cost of revenue as a percentage of total revenue • Capital Expenditures: Funds used to buy, maintain, or improve physical or fixed assets used in the Company’s operations • New Business

XBP Europe Holdings — Q2 2024 Earnings Presentation on 6ix