Pensionbee Group Plc · LSE:PBEE
Pensionbee — H1 2021 Earnings Presentation
20 slides from Pensionbee's earnings presentation, Jul 22, 2021
Slide 1: Results Presentation for the six months to 30 June 2021
Results Presentation for the six months to 30 June 2021 www.pensionbee.com 1
Slide 2: Agenda
Agenda 1 Overview of 1H 2021 2 Financial Update 3 Outlook 4 Appendix www.pensionbee.com 2
Slide 3: Overview of 1H 2021
1 Overview of 1H 2021 www.pensionbee.com 3
Slide 4: 1H 2021 Financial & Operational Highlights (1/2)
1H 2021 Financial & Operational Highlights (1/2) ● £55m of capital raised in successful IPO on the High Growth Segment of the London Stock Exchange ● Strength of value proposition resonated with new and existing customers ● Continued to take advantage of enormous market opportunity in UK Defined Con
Slide 5: 1H 2021 Financial & Operational Highlights (2/2)
1H 2021 Financial & Operational Highlights (2/2) Development of AUA since Inception (£bn) Development of ARR Revenue since Inception (£m) £2.0bn Dec-18 to Jun-21 CAGR CAGR 106% 102% 538k Registered 155k Active 92k Invested £2bn Assets under £9m LTM Revenue £12m Annual Run Rate >95% Customer Customer
Slide 6: PensionBee's Growth Story
PensionBee’s Growth Story Significant growth achieved across Customers, AUA and Revenue Growth in Invested Customers (000s) Translates into Increasing AUA Base (£m) Which Drives ARR Revenue (£m) +81% +117% +114% www.pensionbee.com 6
Slide 7: Business Updates to further our Strategic Goals (1/2)
Business Updates to further our Strategic Goals (1/2) ●1 Efficient investment in customer acquisition and brand awareness - Majority of spend focused on top 3 channels as expected (TV, OOH and Paid Search) - New Brand Campaign rolled out nationally across all channels - Continued optimisation of dig
Slide 8: Business Updates to further our Strategic Goals (2/2)
Business Updates to further our Strategic Goals (2/2) ●3 Continued investment in and development of an industry leading technology platform - Data Platform in operation, based on best-of-breed open Excellent Customer Service Reflected in Metrics and source and proprietary data warehouse and data pip
Slide 9: Financial Update
2 Financial Update www.pensionbee.com 9
Slide 10: AUA Growth Driven by New and Existing Customers
AUA Growth Driven by New and Existing Customers High customer retention and strong continuous net flows generate attractive lifetime value Continuous Compounding of AUA Strong Net Flows from New & Existing Customers(1) (£ bn) (£ m) c.£2.0bn £1,987m Quality of AUA Growth in H1 Cohort Average Pot Size
Slide 11: Scalability Generates Operating Leverage over Time
Scalability Generates Operating Leverage over Time Resilient revenue margin combined with scalability of technology platform achieves operating leverage Resilient Gross Revenue Margin of 69 bps Scalable Technology Platform Drives Margin Improvement Supports Revenue Growth Annual Run Rate Revenue (£m
Slide 12: Disciplined Marketing Investment Drives Healthy Growth
Disciplined Marketing Investment Drives Healthy Growth Data-driven acquisition approach has enabled scaled-up marketing investment within cost thresholds PensionBee Continues to Scale up Marketing Investment Whilst Maintaining Cost Discipline Cumulative Marketing Expenditure (£m)(1) Cumulative Inves
Slide 13: Illustrative Unit Economics
Illustrative Unit Economics The nature of pension assets drive lifetime revenue profile 2 LTV/CAC ✔ Methodological data driven approach to Asset Driven customer acquisition Lifetime Revenue 3 ▪ Scalable technology platform 4 ✔ Attractive LTV/CAC ▪ Low cost to serve customers Compelling Unit Economic
Slide 14: Outlook
3 Outlook www.pensionbee.com 14
Slide 15: Medium Term Financial Objectives & Guidance
Medium Term Financial Objectives & Guidance Metric Guidance Provided in Prospectus Reconfirming Revenue Growth High double digit revenue growth over short to medium term. Solid double-digit growth over the longer term Gross Revenue Margin & To remain consistent with historical levels as a proportion
Slide 16: Outlook for 2021
Outlook for 2021 ● Revenue Growth expected to be in line with market expectations for 2021, driven by - Ongoing rapid growth of investment in marketing - Continued product innovation to maintain customer satisfaction - Further investment in people and technology ● Adjusted EBITDA Margin for FY 2021
Slide 17: Appendix
4 Appendix www.pensionbee.com 17
Slide 18: 1H2021 Financial Highlights
1H2021 Financial Highlights KPIs As at Period End Financials Over the 6-month Period Ending Jun-2020 Jun-2021 YoY Jun-2020 Jun-2021 YoY AUA (£m) 915 1,987 117% Revenue (£m) 2.6 5.4 109% Annual Run Rate (ARR) AUA Retention Rate (% of AUA) >95% >95% (£m) 5.7 12.3 114% Stable Revenue(1) Adjusted EBITDA
Slide 19: Glossary
Glossary Assets under Administration (AUA) Assets under Administration (AUA) is the total invested value of pension assets within PensionBee Invested Customers’ pensions. It measures the new inflows less the outflows and records a change in the market value of the assets. AUA is a measurement of the
Slide 20: Disclaimer
Disclaimer The information contained in this presentation has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in it.