Onterris, Inc. · NYSE:ONT
Onterris — Montrose Environmental Group — Q2 2025 Earnings Presentation
25 slides from Onterris's earnings presentation, Aug 7, 2025
Slide 1: 2Q 2025 Earnings
2Q 2025 EARNINGS August 7, 2025
Slide 2: Disclosures
Disclosures Safe Harbor Statements contained herein and in the accompanying oral presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements
Slide 3: Key Updates
» Key Updates OM MONTROSE RONMENTAL
Slide 4: Continued Execution Drives Strong Performance
Continued Execution Drives Strong Performance Another Delivering on Increasing guidance for record quarter strategic priorities 2nd consecutive quarter 2Q25 compared to 2Q24: • Delivered above target organic revenue & • Increased expected FY25 Consolidated Adjusted EBITDA1 growth Revenue range, 17%4
Slide 5: Strong Revenue Growth: 2Q and YTD
Strong Revenue Growth: 2Q and YTD 35.3% increase in revenue, compared to 25.5% increase in YTD25 revenue, over 2Q24, to $234.5M YTD24 period, to $412.4M 2Q 2025 Revenue YTD 2025 Revenue ($ in millions) ($ in millions) $412.4 $234.5 $328.7 $173.3 2Q24 2Q25 YTD24 YTD25 Key drivers of Increase in envir
Slide 6: 2Q25 Delivering Positive Net Income and Earnings Per Share
2Q25 Delivering Positive Net Income and Earnings Per Share $18.4M $0.42 $1.0M $0.15 2Q25 Net Income 2Q25 EPS1 2Q25 Net Loss 2Q25 LPS2 2Q25 compared to 2Q24 YTD25 compared to YTD24 • $28.5M improvement in net income to $18.4M, due to • $22.5M improvement in net loss to $1.0M, due to revenue growth, i
Slide 7: Significant Consolidated Adjusted EBITDA Growth: 2Q and YTD 2025
Significant Consolidated Adjusted EBITDA1 Growth: 2Q and YTD 2025 2Q25 compared to 2Q24 YTD25 compared to YTD24 • 69.8% increase in Consolidated Adjusted EBITDA1 to • 45.7% increase in Consolidated Adjusted EBITDA1 to $39.6M, due to revenue growth, including strong $58.6M, due to revenue growth, inc
Slide 8: Six-Months Ahead of Plan: Delivering on Strategic Financial Priorities
Six-Months Ahead of Plan: Delivering on Strategic Financial Priorities 1. Prioritize balance sheet simplification, redeem Series A-2 prior to YE25, and subsequently deliver Remaining $122M Series A-2 Preferred Stock (Series A-2) - fully redeemed six-months early <3.0x Committed to fund redemptio
Slide 9: Full-Year 2025 Guidance Strengthened
Full-Year 2025 Guidance Strengthened 2025 Revenue range of $795M to $835M, 2025 Consolidated Adjusted EBITDA3 range of from $735M to $785M $111M to $117M, from $103M to $110M • Strong broad-based demand outlook, more tailwinds • Expect year-over-year expansion in Consolidated than headwinds, particu
Slide 10: Creating Long-term Shareholder Value
Creating Long-term Shareholder Value Strategically allocate capital, long-term Continue increasing cash flow generation strategy unchanged • Target 50%+ of Operating Cash Flow as a % of • Invest in organic growth capital (R&D, patents, Consolidated Adjusted EBITDA2 on an annual basis technology)
Slide 11: Investment Highlights
Investment Highlights Uniquely integrated across Global scale and diverse recurring environmental consulting, testing, and customer base supports cross- treatment science selling upside Large TAM and secular tailwinds Strong organic growth coupled backed by regulatory and corporate with opportunisti
Slide 12: Segment Overview
” MONTROSE ENVIRONMENTAL
Slide 13: Unique Integration Model: The Montrose Flywheel
Remediation & Reuse Measurement & Analysis Assessment Permitting & Response Water Treatment Technology Unique Integration Air Quality Model: Testing Laboratory Analysis The Montrose Flywheel Montrose fills a gap Environmental Environmental Consulting Compliance in the market — as few firms can integ
Slide 14: The Montrose Flywheel: A Landfill Remediation Case Study
The Montrose Flywheel: A Landfill Remediation Case Study Bringing Value to Our Clients Through Integrated Services It all started with …strategic expansion of Montrose's services, starting an air quality study… with testing and adding services over time, increasing overall client share of wallet Air
Slide 15: Energy Case Study: Building Scalable, Long-Term Relationship
Energy Case Study: Building Scalable, Long-Term Relationship Bringing Value to Our Clients Through Integrated Services A long-standing Montrose Flywheel in Action: Compliance support relationship further scaled into a strategic, multi-touchpoint expands with a site- relationship. This case study ill
Slide 16: Assessment, Permitting & Response Segment Performance
| Significant revenue growth: Assessment, • 2Q25: Environmental emergency response increased $35.6M, organic revenue growth Permitting & of $12.0M in non-response consulting and advisory services, and incremental Response Segment contributions from acquisitions of $2.8M Performance • YTD25: Environm
Slide 17: Measurement & Analysis Segment Performance
Measurement & | Strong revenue growth: Analysis Segment • Organic growth of $4.9M in 2Q25 and $13.4M YTD25 Performance • Additional contributions from acquisitions of $3.7M in 2Q25 and $9.2M YTD25 | Significant margin expansion reflects: • Higher revenue, including acquisitions (compared to prior ye
Slide 18: Remediation & Reuse Segment Performance
Remediation & | Strong revenue growth driven by: Reuse Segment • Organic growth of $0.2M in 2Q25 and $9.6M YTD25 Performance • Additional contributions from acquisitions of $2.5M and $7.6M in 2Q25 and YTD25 | Segment margin expanded in 2Q25, as expected • Favorable revenue mix in 2Q25, was with flat
Slide 19: Enhancing Profitability – Road to Margin Improvement Across Segments
Enhancing Profitability – Road to Margin Improvement Across Segments Remediation & Reuse Segment Measurement & Analysis Segment Assessment Permitting & Response Segment Target Long-Term Margins: 20% to 25% Target Long-Term Margins: 18% to 22% Target Long-Term Margins: 20% to 25% Segment Revenue Mix
Slide 20: Appendix
>» Appendix =| OM MONTROSE RONMENTAL
Slide 21: Shareholder Friendly Actions in 2025
Shareholder Friendly Actions in 2025 Board composition changed Vincent Colman joined Board of Directors and Audit Committee as an independent director Additional industry experts being considered in future Near term focus on simplifying financials to demonstrate underlying strength of business
Slide 22: Non-GAAP Financial Information
Non-GAAP Financial Information In addition to our results under GAAP, in this presentation we also present certain other supplemental financial measures of financial performance that are not required by, or presented in accordance with, GAAP, including, Consolidated Adjusted EBITDA, Consolidated Adj
Slide 23: Non-GAAP Financial Information (Continued)
Non-GAAP Financial Information (Continued) This presentation also includes Adjusted Operating Cash Flow, a non-GAAP measure which represents cash flow provided by (used in) operating activities less amounts paid for acquisition-related contingent consideration. Payments for acquisition-related consi
Slide 24: Reconciliation of Net Income (Loss) to Adjusted Net Income
Montrose Environmental Group, Inc. Reconciliation of Net Income (Loss) to Adjusted Net Income Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) $ 18,356 $ (10,170) $ (1,003) $ (23,527) Amortization of intangible assets (1) 7,326 7,137 15,716 14,566 Stock-bas
Slide 25: Reconciliation of Net Income (Loss) and Consolidated Adjusted EBITDA
Montrose Environmental Group, Inc. Reconciliation of Net Income (Loss) and Consolidated Adjusted EBITDA Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) $ 18,356 $ (10,170) $ (1,003) $ (23,527) Interest expense 4,768 3,976 9,833 7,282 Income tax expense 988
Montrose Environmental Group — Q2 2025 Earnings Presentation on 6ix