Dye & Durham Ltd. · TSX:DND
Dye & Durham — Q3 FY2022 Earnings Presentation
14 slides from Dye & Durham's earnings presentation, May 12, 2022
Slide 1: Quarterly Results Presentation Third Quarter 2022
QUARTERLY RESULTS PRESENTATION THIRD QUARTER 2022 May 12, 2022 When being certain is everything dyedurham.com
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared for informational purposes only. By accepting delivery of this presentation and/or attending the meeting where this presentation is made, you agree: (1) to keep strictly confidential the contents of this presentation and such other information and not t
Slide 3: Dye & Durham At-A-Glance
DYE & DURHAM AT-A-GLANCE 50,000+ customers Application B $430M LTM Revenue $241M million of LTM Adjusted EBITDA1 Application A Application C 50%+ Adjusted EBIDTA margin consistently1 119% Q3 Adjusted EBITDA CAGR since Q3 FY 20191 1. Adjusted EBITDA and Adjusted EBITDA margin are non-IFRS m
Slide 4: Mission Critical Software for the Legal and Business Community
MISSION CRITICAL SOFTWARE FOR THE LEGAL AND BUSINESS COMMUNITY We created the global leader Legal Specific Regulatory Information Workflow Software and Data When being certain is everything
Slide 5: Financial Overview – Q3 FY2022 Results
FINANCIAL OVERVIEW – Q3 FY2022 RESULTS $66.8 Million $122.9 Million $4.2 Million EBITDA Revenue Q-o-Q Adj. EBITDA Growth1 54% $54.0 Million $29.2 Million Y-o-Y Revenue Y-o-Y Adj. EBITDA EBITDA Margin Growth2 Growth2 1. 3-months ended March 31, 2022 vs 3-months ended December 31, 2021 2. 3-months end
Slide 6: Executing on Strategy
EXECUTING ON STRATEGY • Strong financial performance, despite a challenging real estate market • Business has managed through multiple real estate market cycles with a proven ability to retain share • Introduction of new subscription revenue model in parts of Canada for our conveyancing software pro
Slide 7: Dye & Durham Growth and Margin Performance
DYE & DURHAM GROWTH AND MARGIN PERFORMANCE Benchmarking Growth and Margins Benchmarking Current Valuation ( EV / CY’22 EBITDA) Highest Margins Topicus.com 28.1x 70% Peer Median: 34% PEXA 24.3x Descartes 24.0x 50% Constellation 18.2x Revenue Growth (CY'22 vs. CY'21) Constellation 30% Thomson Reuters
Slide 8: Link Group - Transaction Update
LINK GROUP - TRANSACTION UPDATE • Court date held May 10, 2022 • Scheme Booklet dispatched to Link shareholders on May 11, 2022 • Regulatory approvals progressing • Link shareholder Scheme meeting expected to be held July 13, 2022 • Acquisition remains on schedule for closing in calendar Q3 2022 • B
Slide 9: Financial Review
FINANCIAL REVIEW • Avjit Kamboj, Chief Financial Officer When being certain is everything 9
Slide 10: Summary Financial Results
SUMMARY FINANCIAL RESULTS • Dye & Durham has its strongest quarter yet, with meaningfully higher YOY and QoQ revenue and Adjusted EBITDA • The Company continues to exhibit world class and industry leading Adjusted EBITDA Margin Q3 FY2022 Results In Millions CAD Actuals LTM Revenue $122.9 $429.5 Adju
Slide 11: Key Financial Metrics
KEY FINANCIAL METRICS Q3 FY2022 Results vs. Comparative Periods In Millions C$ Q3 FY2022 Q3 FY2021 YOY Change ($) YTD FY2022 YTD Change ($) Revenue $122.9 $68.9 +54.0 $345.1 +220.6 Direct Costs $14.2 $9.4 +4.8 $43.3 +27.5 Expenses1 $41.9 $22.0 +19.9 $110.1 +68.5 Adjusted EBITDA $66.8 $37.6 +29.2 $19
Slide 12: A Track Record of Strong and Resilient Growth
A TRACK RECORD OF STRONG AND RESILIENT GROWTH Quarterly Adjusted EBITDA Growth Annual Adjusted EBITDA Growth (C$ millions) (C$ millions) 66.8 240.9 62.4 62.6 49.1 116.4 37.6 36.7 26.4 Q3 FY2021 Q4 FY2021 Q1 FY2022 Q2 FY2022 Q3 FY 2022 FY2019A FY2020A FY2021A LTM Q3 FY2022 When being certain is every
Slide 13: When being certain is everything
When being certain is everything 13
Slide 14: When being certain is everything
When being certain is everything 14