Dye & Durham Ltd. · TSX:DND
Dye & Durham — Q3 2025 Earnings Presentation
17 slides from Dye & Durham's earnings presentation, May 13, 2025
Slide 1: Q3 FY 2025 Results Presentation
Q3 FY 2025 RESULTS PRESENTATION May 13, 2025 When being certain is everything dyedurham.com dyedurham.com
Slide 2: Disclaimer
ibdroot\projects\IBD-NY\driveins2022\902367_1\Presentations\05. Lender Presentation\DND Private LP - November 2022_v26.pptx DISCLAIMER This presentation has been prepared for informational purposes only. These materials are not, and in no circumstances are they to be construed as, a prospectus, an o
Slide 3: Disclaimer (Cont'd)
ibdroot\projects\IBD-NY\driveins2022\902367_1\Presentations\05. Lender Presentation\DND Private LP - November 2022_v26.pptx DISCLAIMER (CONT’D) Many of these risks are beyond the Company’s control. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions under
Slide 4: Your Legal Practice, Made Perfect
ibdroot\projects\IBD-NY\driveins2022\902367_1\Presentations\05. Lender Presentation\DND Private LP - November 2022_v26.pptx YOUR LEGAL PRACTICE, MADE PERFECT Our mission-critical software gets business done right, every time. We provide premier practice management solutions and vital data insights s
Slide 5: Dye & Durham Results Snapshot
ibdroot\projects\IBD-NY\driveins2022\902367_1\Presentations\05. Lender Presentation\DND Private LP - November 2022_v26.pptx DYE & DURHAM RESULTS SNAPSHOT Dye & Durham Key Operating Areas C$108 mm C$55 mm Q3 FY2025 Revenue Q3 FY2025 Adj. EBITDA1 Canada ~7,800 UK & I 51% (2)% ~18,000 Customers Q3 FY20
Slide 6: Restoring Growth & Market Leadership
ibdroot\projects\IBD-NY\driveins2022\902367_1\Presentations\05. Lender Presentation\DND Private LP - November 2022_v26.pptx RESTORING GROWTH & MARKET LEADERSHIP Customer Product Portfolio 1 First 2 Transformation 3 Optimization Winning Back Innovation & Focus, Simplification Trust & Growth Reliabili
Slide 7: Value Creation Plan – Key Strategic Pillars
VALUE CREATION PLAN – KEY STRATEGIC PILLARS Strategic Pillar Simplify Scale & Expand Intended Outputs Customer First Client Engagement: • Organic Go-To-Market strategy, with expanded account Accelerated Sales: Re-engaged with thousands of clients to gather feedback and inform strategic coverage Incr
Slide 8: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS Dye & Durham is focused on bringing software capabilities together to provide a single point solution for customers Key Industry Drivers Dye & Durham Key Growth Drivers Accelerated adoption of legal technology to 1 Growing Contracted Revenue improve efficiencies and client
Slide 9: Dye & Durham Segment Overview
DYE & DURHAM SEGMENT OVERVIEW Legal Software Banking Technology Practice Management Data Insights & Due Diligence Lending Tech Payments Managed Banking Services End-to-end practice management software enables Our payments infrastructure technology facilitates the transfer of We connect a global netw
Slide 10: Performance: Growth in Contracted Revenue
PERFORMANCE: GROWTH IN CONTRACTED REVENUE • ARR1 of $153.9 million on an annualized basis for Q3 FY25, representing 36% of total revenue. • Q3 FY25 Annual Contract Revenue is 61% of total revenue Annualized Contractual Revenue1,2,3,4 (C$ mm) 1 1. Annual Recurring Revenue is a non-IFRS measure. Pleas
Slide 11: Highly Attractive & Diversified Revenue Model with Predictability and Scale
HIGHLY ATTRACTIVE & DIVERSIFIED REVENUE MODEL WITH PREDICTABILITY AND SCALE Breakdown of Revenue Model – Q3 FY2025 1 Subscription Non- Contracted 11% Payment per legal matter or transaction Transactional Contracted Contracted 61%n Transactional 25% 2 Represents actual revenue usage above minimum spe
Slide 12: Performance: Quarterly Financials
PERFORMANCE: QUARTERLY FINANCIALS • Revenue increase of 1% in Q3 FY2025 YoY driven by growth in Banking Technology, offset partially by decrease from revenue adjustments in Legal Technology • Consistent Adjusted EBITDA Margins1 of mid 50% (Q3 FY25: 51%) demonstrate scalability of platform Revenue (C
Slide 13: Leveraged Free Cash Flow Rebounds in Q3 FY25
LEVERAGED FREE CASH FLOW REBOUNDS IN Q3 FY25 1 Q3 FY25 cash flow rebounded to $24M inline with expectations. YoY Q3 net cash from operations grew by $10M, while leveraged free cash flow grew by $32M. One Time Charges affecting Q2 FY25 leveraged Free Cash Flow Note: All figures in CAD unless otherwis
Slide 14: Management Outlook: Strong Free Cash Conversion to Drive De-levering
MANAGEMENT OUTLOOK: STRONG FREE CASH CONVERSION TO DRIVE DE-LEVERING FY2023 FY2024 LTM March 2025 Long Term1,5 Long-term plan focused on organic growth, driving free cash Organic Revenue Growth2 (11%) 3% 3% High single digits+ flow and debt repayment until leverage is below 3x net debt / EBITDA Rein
Slide 15: Appendix
APPENDIX When being certain is everything everything / 1515
Slide 16: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION Net Income to Adjusted EBITDA Three months ended Three months ended Twelve months ended Twelve months ended ($C 000's) March 31, 2025 March 31, 2024 June 30, 2024 June 30, 2023 Income (loss) for the period (21,775) (21,063) (174,348) (170,643) Amortization and deprecia
Slide 17: Reconciliations
RECONCILIATIONS Organic Revenue Reconciliation Leveraged Free Cash Flow Reconciliation Adjusted Net income Three Three Three Three Three months ended months ended months ended ($C millions) months ended months ended ($C millions) March 31, 2025 ($C millions) March 31, 2025 March 31, 2024 Except per