Slide 1: Q2 2024 Earnings Call
Q2 2024 Earnings Call July 30, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements The information presented herein may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements include without limitation all statements other than statements of historical fact, including forecasts of our growth,
Slide 3: Financial Update
Financial Update £3 BEYOND
Slide 4: Q2 2024 Financial Results
Q2 2024 Financial Results Revenue Gross Margin G&A and Tech Expense $398.1 Million 20.1% $45.9 Million -5.7% vs. Q2'23 -530 bps vs. Q2'23 -7.1% vs. Q2'23 Diluted EPS Adjusted EBITDA1 -$0.93 Ending Cash Adjusted Diluted EPS2 -$36.4 Million $186.2 Million -$44.6M vs. Q2'23 -$0.76 -27% / -$70.1M vs. Q1
Slide 5: Revenue
Revenue Revenue Q2’24 Dynamics ($M) $795 $800 $767 ▪ Revenue of $398M – -5.7% / -$24M vs. Q2’23 $700 ▪ Revenue influenced by: $600 – AOV -12.8% vs. Q2’23 $528 $500 $422 $384 $398 $400 $367 $373 $382 +4% $300 $200 $100 $0 Q2 ’19 Q2 ’20 Q2 ’21 Q2 ’22 Q2 ’23 Q3 ’23 Q4 ’23 Q1 ’24 Q2 ’24 5
Slide 6: Gross Margin
Gross Margin Gross Margin Gross Margin Q2’24 Dynamics ($M) (%) $275 30% ▪ Gross margin of 20.1% $250 26.3% 26.3% – -530 bps vs. Q2’23 25.2% 25.5% 25% $225 23.1% $202 $200 22.2% ▪ Gross margin influenced by: $200 20.1% 19.5% – Higher discounting 19.2% 20% $175 – Higher carrier costs $150 $139 15% $12
Slide 7: G&A and Tech Expense
G&A and Tech Expense G&A and Tech Expense G&A and Tech Exp. Q2’24 Dynamics ($M) as % of Revenue $80 16% ▪ G&A and Tech Expense of 14.1% 14.3% 14.0% $46M $70 14% 13.1% – -7.1% vs. Q2'23 1 11.7% 11.5% $60 $57 12% $53 $54 ▪ G&A and Tech Expense % of $52 $53 $52 $49 $50 revenue of 11.5% $50 10% $50 $46
Slide 8: Adjusted EBITDA
Adjusted EBITDA Adjusted EBITDA Adjusted EBITDA Margin Q2’24 Dynamics ($M) (%) $70 8% 6.4% ▪ Adj. EBITDA of -$36M 5.6% $60 6% – -$45M vs. Q2'23 $49 3.9% $50 $44 4% 2.0% $40 2% ▪ Adj. EBITDA margin of -9.1% $30 – -1,110 bps vs. Q2'23 0% $21 $20 (0.7%) (2%) $10 $8 (4%) $0 ($2) (6.4%) (6%) ($10) (8%) (
Slide 9: Active Customers and Order Frequency
Active Customers and Order Frequency Active Customers (LTM) Order per Active Customer Q2’24 Dynamics (M) (LTM) 14 2.0 ▪ Active customers (LTM) of 1.76 1.69 1.65 6.2M 12 1.62 1.56 – +34.6% / +1.6M vs. Q2’23 1.48 1.41 1.41 1.39 1.5 10 9.2 ▪ Order frequency of 1.39 – -10.9% vs. Q2’23 8 7.0 6.5 1.0 6.0
Slide 10: Orders and Average Order Value
Orders and Average Order Value Orders Delivered Average Order Value Q2’24 Dynamics (M) ($) $247 10 $250 $234 ▪ Orders delivered of 1.9M $213 – +8.1% / + 0.1M vs. Q2’23 $204 $200 $173 ▪ Average order value of $204 $166 $192 $160 – -12.8% vs. Q2’23 $150 $151 5 4.8 3.7 $100 2.5 2.2 2.1 2.2 1.8 1.9 1.9
Slide 11: LTM Orders and Average Order Value
LTM Orders and Average Order Value Orders Delivered (LTM) Average Order Value Q2’24 Dynamics (M) ($) $247 25 $250 $234 ▪ Orders delivered (LTM) of $213 8.7M $204 – +20.0% / +1.4M vs. Q2’23 20 $200 $173 $192 $166 ▪ Average order value of $204 $160 15.5 – -12.8% vs. Q2’23 15 $150 $151 11.3 10.7 10.2 1
Slide 12: Appendix
APPENDIX £3 BEYOND
Slide 13: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Three months ended in thousands, except per share data Jun-2019 Jun-2020 Jun-2021 Jun-2022 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Net income (loss) $ (13,230) $ 47,839 $ 82,405 $ 7,147 $ (73,493) $ (63,049) $ (160,993) $ (73,928) $ (42,578) Depreciation and amort
Slide 14: Adjusted Diluted EPS Reconciliation
Adjusted Diluted EPS Reconciliation Three months ended June 30, 2024 Less: equity method Adjusted 1 in thousands, except per share data Diluted EPS income/(loss) Diluted EPS Numerator: Net loss attributable to common stockholders $ (42,578) $ (7,753) $ (34,825) Denominator: Weighted average shares o
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