Slide 1: 2022 Third Quarter Earnings Presentation
2022 Third Quarter Earnings Presentation November 8th 2022
Slide 2: Disclaimer
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 matters of historical fact should be considered forward-looking, includ
Slide 3: 3Q 2022 Performance Highlights
3Q 2022 Performance Highlights Revenue and % composition 1 # B2B Sessions 2 B2C Active Members 3 USD, millions Sessions, thousands Members, thousands 3 43% 71% 57% 29% (1) Revenue breakdown as reported, including prior-period reserve allowance. (2) Includes sessions from Employee Assistance Programs
Slide 4: Executing On Our Strategic Priorities
Executing On Our Strategic Priorities 1 Grow B2B Business 2 Cash Flow Break-Even ●Higher conversion and engagement via product improvements ●Reduced opex run rate; Partial benefit in 4Q ✔ ●Expanding covered lives and ●Revenue cycle management national payor relationships and customer service ●Improve
Slide 5: 3Q 2022: Key Performance Metrics
3Q 2022: Key Performance Metrics Revenue 1 Gross Profit and % Margin USD, millions USD, millions 53.8% 54.7% 49.8% 48.7% (1) Revenue is presented on an as-reported basis. 5 B2B revenue includes post-session member payments related to MBH, with the exception of 1Q’22.
Slide 6: 3Q 2022: Key Performance Metrics (cont'd)
3Q 2022: Key Performance Metrics (cont’d) Operating Expenses 1 Adjusted EBITDA Loss 2 USD, millions USD, millions (1) 4Q’21 includes non-recurring severance expenses of $3.7M; 3Q’22 includes $0.6M non-recurring expenses and $0.3M expenses related to prior periods. 6 (2) Adjusted EBITDA is a non-GAAP
Slide 7: 3Q 2022 Key Operating Metrics: B2B
3Q 2022 Key Operating Metrics: B2B Revenue by Customer Type 1, 2 B2B Sessions # DTE Accounts USD, millions Sessions, thousands Enterprise customers (1) Revenue is presented on an as-reported basis, and includes change in reserves related to prior periods. 7 (2) B2B revenue includes post-session memb
Slide 8: 3Q 2022 Key Operating Metrics: B2C
3Q 2022 Key Operating Metrics: B2C 1, 2 1 Revenue Active Members 3 Advertising Spend USD, millions Members, thousands % Change QoQ (19%) (23%) (9%) (1) Revenue is presented on an as-reported basis. 8 (2) B2C revenue excludes post-session member payments, with the exception of 1Q’22. (3) Reflects act
Slide 9: Closing Remarks
Full-stack behavioral health platform to serve sizable, underpenetrated & growing TAM Integrated machine learning model to drive member engagement & improve clinical efficacy Growing B2B business with multiple drivers to increase market penetration & Closing enhance profitability Remarks Solid brand to
Slide 10: Appendix
Appendix 10
Slide 11: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA Adjusted EBITDA Adjusted EBITDA, which is reconciled to net income (loss) below, is a key performance measure that our management uses to assess our operating performance. Because adjusted EBITDA facilitates internal comparisons of our historical opera