Universal Technical Institute Inc · NYSE:UTI

Universal Technical Institute — Q4 2024 Earnings Presentation

23 slides from Universal Technical Institute's earnings presentation, Nov 20, 2024

  1. Slide 1: Universal Technical Institute, Inc. Q4 2024 Financial Supplement

    Universal Technical Institute, Inc. Q4 2024 Financial Supplement

  2. Slide 2: Forward-Looking Statements

    Financial Supplement Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor from civil liability provided for such statements by the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 193

  3. Slide 3: Consolidated Q4 and FY 2024 Highlights

    Financial Supplement Consolidated Q4 and FY 2024 Highlights Q4 2024 FY 2024 Revenue Revenue $196.4 million $732.7 million Net Income Net Income $18.8 million $42.0 million Adjusted EBITDA Adjusted EBITDA $37.3 million $102.9 million Diluted Earnings Per Share Diluted Earnings Per Share $0.34 $0.75 P

  4. Slide 4: Consolidated Q4 2024 Summary Results

    Financial Supplement Consolidated Q4 2024 Summary Results ($ in millions) ($ in millions, except for student data) 3 Mos. 9/30/24 3 Mos. 9/30/23 YoY Change 12 Mos. 9/30/24 12 Mos. 9/30/23(1) YoY Change Revenues $196.4 $170.3 15.3% $732.7 $607.4 20.6% Operating expenses $170.3 $160.0 6.5% $673.8 $586

  5. Slide 5: Consolidated Statements of Operations Trend

    Financial Supplement Consolidated Statements of Operations Trend ($ in thousands, except EPS) 12 Mos. 9/30/24 3 Mos. 9/30/24 3 Mos. 6/30/24 3 Mos. 3/31/24 3 Mos. 12/31/23 12 Mos. 9/30/23(1) 3 Mos. 9/30/23 3 Mos. 6/30/23 3 Mos. 3/31/23 3 Mos. 12/31/22(1) Revenues $ 732,687 $ 196,358 $ 177,458 $ 184,1

  6. Slide 6: Consolidated Results of Operations Trend Percent of Revenue

    Financial Supplement Consolidated Results of Operations Trend Percent of Revenue 12 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 12 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 9/30/24 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23(1) 9/30/23 6/30/23 3/31/23 12/31/22(1) Revenues 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 1

  7. Slide 7: Quarterly Trend – Segment Key Metrics

    Financial Supplement Quarterly Trend – Segment Key Metrics ($ in millions, except revenue per student amounts) ($ in millions, except for student data) 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 9/30/24 6/30/24 3/31/24 12/31/23 9/30

  8. Slide 8: Segment Results of Operations - Fourth Quarter

    Financial Supplement Segment Results of Operations - Fourth Quarter ($ in thousands) PAGE 8 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 9/30/24 9/30/24 9/30/24 9/30/24 9/30/23 9/30/23 9/30/23 9/30/23 UTI Concorde Corporate Consolidated UTI Concorde Corporate Consolidated Revenues $ 130,5

  9. Slide 9: Segment Results of Operations - YTD

    Financial Supplement Segment Results of Operations - YTD ($ in thousands) PAGE 9 12 Mos. 12 Mos. 12 Mos. 12 Mos. 12 Mos. 12 Mos. 12 Mos. 12 Mos. 9/30/24 9/30/24 9/30/24 9/30/24 9/30/23 9/30/23 9/30/23 9/30/23 UTI Concorde Corporate Consolidated UTI Concorde Corporate Consolidated Revenues $ 486,376

  10. Slide 10: Segment Results of Operations - Fourth Quarter (Expense Detail)

    Financial Supplement Segment Results of Operations - Fourth Quarter ($ in thousands) 3 Mos. % of 3 Mos. % of 3 Mos. % of 3 Mos. % of 09/30/2024 Segment 09/30/2024 Segment 09/30/2024 Consolidated 09/30/2024 Consolidated UTI Revenue Concorde Revenue Corporate Revenue Consolidated Revenue EDUCATIONAL S

  11. Slide 11: Segment Results of Operations - Year to Date (Expense Detail)

    Financial Supplement Segment Results of Operations - Year to Date ($ in thousands) 12 Mos. % of 12 Mos. % of 12 Mos. % of 12 Mos. % of 09/30/2024 Segment 09/30/2024 Segment 09/30/2024 Consolidated 09/30/2024 Consolidated UTI Revenue Concorde Revenue Corporate Revenue Consolidated Revenue EDUCATIONAL

  12. Slide 12: New Student Starts Details

    Financial SupplementNew Student Starts Details 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 3 Mos. 9/30/24 6/30/24 3/31/24 12/31/23 9/30/23 6/30/23 3/31/23 12/31/22 UTI Segment Total New Student Starts 7,068 2,916 2,840 2,314 6,500 3,333 2,374 1,974 Y/Y growth/(decline)(1) 8.7% (12.5)% 19.6% 17.

  13. Slide 13: Consolidated Balance Sheet and Cash Flow Summary

    Financial Supplement Note: On December 18, 2023, the Company exercised in full its right of conversion of the Company’s Series A Preferred Stock which resulted in the conversion of all outstanding Series A Preferred shares into19,296,843 shares of Common Stock. Consolidated Balance Sheet and Cash Fl

  14. Slide 14: Earnings Per Share Trend and Guidance

    Financial Supplement Earnings Per Share Trend and Guidance ($ in thousands, except EPS) Fiscal 2025 Midpoint 12 Mos. 9/30/24 3 Mos. 9/30/24 3 Mos. 6/30/24 3 Mos. 3/31/24 3 Mos. 12/31/23 12 Mos. 9/30/23(1) 3 Mos. 9/30/23 3 Mos. 6/30/23 3 Mos. 3/31/23 Net Income (loss) ~$52,000-56,000 $ 42,001 $ 18,84

  15. Slide 15: Leverage as of 9/30/2024

    Financial Supplement Leverage as of 9/30/2024 Current Loan Balances $125.7M LTM EBITDA $102.8M Cash & Cash Equivalents $161.9M Gross Leverage Ratio 1.22x Net Leverage Ratio -0.35x Debt as of 9/30/2024 Term Loan: Avondale Campus (Fifth Third Bank) Original Note Amount $31.2M Inception Date 5/12/2021

  16. Slide 16: Use of Non-GAAP Financial Information

    Financial SupplementUse of Non-GAAP Financial Information PAGE 16 In addition to disclosing financial results that are determined in accordance with U.S. generally accepted accounting principles ("GAAP"), the Company also discloses certain non-GAAP financial information. These financial measures are

  17. Slide 17: Consolidated Adjusted EBITDA Reconciliation Trend

    Financial Supplement Consolidated Adjusted EBITDA Reconciliation Trend ($ in thousands) 1. Costs related to both announced and potential acquisition targets. 2. The Austin, TX and Miramar, FL campuses opened during FY2022. The adjustment reflects one-time opening costs incurred for both campuses. 3.

  18. Slide 18: Consolidated Adjusted EBITDA Reconciliation Trend

    Financial Supplement Consolidated Adjusted EBITDA Reconciliation Trend ($ in thousands) 12 Mos. 9/30/24 9 Mos. 6/30/24 6 Mos. 3/31/24 3 Mos. 12/31/23 12 Mos. 9/30/23(5) 9 Mos. 6/30/23 6 Mos. 3/31/23 3 Mos. 12/31/22(4) Net income, as reported $ 42,001 $ 23,161 $ 18,176 $ 10,389 $ 12,322 $ 5,619 $ 6,1

  19. Slide 19: Adjusted EBITDA Reconciliation By Segment

    Financial Supplement Adjusted EBITDA Reconciliation By Segment ($ in thousands) 3 Mos. 9/30/24 3 Mos. 9/30/23 3 Mos. 9/30/24 3 Mos. 9/30/23 3 Mos. 9/30/24 3 Mos. 9/30/23 UTI UTI Concorde Concorde Corporate Corporate Net income (loss), as reported $ 28,760 $ 13,048 $ 6,777 $ 3,169 $ (16,697) $ (9,514

  20. Slide 20: Adjusted EBITDA Reconciliation By Segment

    Financial Supplement Adjusted EBITDA Reconciliation By Segment ($ in thousands) 12 Mos. 9/30/24 12 Mos. 9/30/23(5) 12 Mos. 9/30/24 10 Mos. 9/30/23(4) 12 Mos. 9/30/24 12 Mos. 9/30/23 UTI UTI Concorde Concorde Corporate Corporate Net income (loss), as reported $ 71,646 $ 38,324 $ 21,048 $ 10,700 $ (50

  21. Slide 21: Adjusted EBITDA Reconciliation Trend By Segment

    Financial Supplement Adjusted EBITDA Reconciliation Trend By Segment ($ in thousands) 3 Mos. 9/30/24 3 Mos. 6/30/24 3 Mos. 3/31/24 3 Mos. 12/31/23 3 Mos. 9/30/23 3 Mos. 9/30/24 3 Mos. 6/30/24 3 Mos. 3/31/24 3 Mos. 12/31/23(4) 3 Mos. 9/30/23 UTI UTI UTI UTI UTI Concorde Concorde Concorde Concorde Con

  22. Slide 22: Consolidated Adjusted Free Cash Flow

    Financial Supplement Consolidated Adjusted Free Cash Flow ($ in thousands) 3 Mos. 9/30/24 3 Mos. 9/30/23 3 Mos. 9/30/22 12 Mos. 9/30/24 12 Mos. 9/30/23(8) 12 Mos. 9/30/22(8) Cash flow provided by operating activities, as reported $67,534 $53,881 $38,125 $85,895 $49,148 $46,031 Purchase of property a

  23. Slide 23: Slide 23

Universal Technical Institute — Q4 2024 Earnings Presentation on 6ix