Slide 1: Fourth Quarter & Full Year 2015 Summary
Fourth Quarter & Full Year 2015 Summary February 24, 2016
Slide 2: Forward-looking statements and non-GAAP disclosure
2 This presentation contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include information concern
Slide 3: The Leading Global Marketplace for Stock Content
3 The Leading Global Marketplace for Stock Content Contributors Photographers Illustrators Videographers Musicians Customers Designers Businesses Marketing Agencies Media Organizations
Slide 4: Q4 2015 Financial Highlights
4 - Revenue increased 27% to $116.0 million - Revenue increased approximately 24% excluding the impact of currency and contributions from acquired businesses primarily driven by new customers, increased paid downloads and higher revenue per download - Adjusted EBITDA increased 14% to $25.6 million -
Slide 5: Full Year 2015 Financial Highlights
5 - Revenue increased 30% to $425.1 million - Revenue increased approximately 27% excluding the impact of currency and contributions from acquired businesses primarily driven by new customers, increased paid downloads and higher revenue per download - Reported Adjusted EBITDA increased 19% to $84.7
Slide 6: Q4 & FY'15 Key Operating Highlights
6 Q4’15 Operating Highlights: - Image library expanded to 71.4 million images, up 12% versus Q3’15 - Video library expanded to 3.7 million video clips, up 12% versus Q3’15 - Paid downloads of 39.8 million increased 19% versus Q4’14 - Revenue per download of $2.86 increased 7% versus Q4’14 - Launched
Slide 7: Consolidated Financial Results
Consolidated Financial Results ($ in millions) Three Months Ended December 31, Twelve Months Ended December 31, 2015 2014 % 2015 2014 % Revenues $116.0 $91.2 27% $425.1 $328.0 30% Operating Expenses 101.0 78.9 28% 384.1 288.9 33% Income from Operations 15.0 12.3 22% 41.0 39.0 5% Add: Dep. & Amort. 4
Slide 8: Key Financial Results
Key Financial Results Q4 2015 Y/Y Change 2015 Y/Y Change Reported Adjusted Reported Adjusted Revenue Growth 27% 24% 30% 27% Adjusted EBITDA Growth 14% 25% 19% 31% Revenue per Download Growth 7% 11% 10% 15% Adjusted EBITDA Margin 22.1% 26.3% 19.9% 23.4% Note: Adjusted growth excludes the impact of fo
Slide 9: Free Cash Flow
Free Cash Flow 9 ($ in millions) Three Months Ended December 31, Twelve Months Ended December 31, 2015 2014 2015 2014 Net Cash From Operations $25.9 $23.4 $85.3 $82.9 CapEx and Content Acquisitions (4.9) (2.0) (17.0) (18.7) Free Cash Flow $21.0 $21.4 $68.3 $64.2 Note: Totals may not sum exactly due
Slide 10: Non-GAAP Net Income
Non-GAAP Net Income 10 ($ in millions) Three Months Ended December 31, Twelve Months Ended December 31, 2015 2014 2015 2014 GAAP Net Income $6.9 $7.0 $19.6 $22.1 Add: Non-Cash Equity-Based Comp 4.1 5.5 18.7 16.0 Add: Acquisition-Related Amortization 0.8 0.1 2.9 0.3 Add: Change in Fair Value of Conti
Slide 11: Share Repurchase Activity
Share Repurchase Activity 11 Note: Share repurchase plan implemented in Nov’15. To date activity through 2/22/16. Note: % of shares acquired calculated as % of shares outstanding at beginning of period. Three Months Ended 12/31/15 2016 Year To Date Total Repurchase Activity Share Repurchase Activity
Slide 12: 2016 Guidance
2016 Guidance 2016 Guidance Implied Y/Y Growth Revenue $495 - $510 million 17% - 20% Adjusted EBITDA $95 - $100 million 12% - 18% Non-Cash Equity Based Comp. $35 million Capital Expenditures $25 million 12 2016 Guidance Numbers Assume Current FX Rates Throughout the Period