Avantax, Inc. · GETTEX:3EV
Avantax — Blucora — Investor Presentation (December 2021)
18 slides from Avantax's investor presentation, Dec 10, 2021
Slide 1: December 2021 Investor Presentation
December 2021 Investor Presentation Exhibit 99.1
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements general
Slide 3: Table of Contents
Table of Contents I Overview of Blucora’s Businesses 4 II Blucora’s Leadership Team 7 III Blucora’s Board of Directors 8 IV Our Evolving Approach to Executive Compensation 11 V Social and Environmental Responsibility 14 VI Appendix 16
Slide 4: Overview of Blucora
Overview of Blucora Revenue (TTM Q3 2021) $862mm up 15% vs. TTM Q3 2020 Employees ~1,0651 Market Cap. ~$775mm1 Available Liquidity Two Synergistic Businesses Dallas, Texas Wealth Management ~47% of TTM Q3 2021 Segment Operating Income2* ~3,500 Financial Professionals Served Tax Software ~53% of TTM
Slide 5: A Leading Provider of Tax-Focused Financial Solutions
TAX-ADVANTAGED WEALTH MANAGEMENT Avantax Wealth Management provides financial professionals, CPAs and tax professionals with support, training and tools that enable them to offer tax-advantaged investing and wealth management services to their clients. DIGITAL DO-IT-YOURSELF TAX FILING TaxAct is a l
Slide 6: Repositioned Company, Sharp Focus, Profitable Growth Strategy
Repositioned Company Sharp Focus Profitable Growth Strategy Improving company culture and employee engagement with new leadership team and refreshed Board Empowering financial wellness through tax-advantaged solutions delivered across wealth and tax Delivering on plan to accelerate customer and fina
Slide 7: Blucora's Leadership Team
Blucora’s Leadership Team Former Senior Partner at Activate, a strategy consulting firm serving technology, media, internet, sports and entertainment businesses Former COO of The Weather Company Extensive operational and executive management experience in areas of strategy, operations, technology an
Slide 8: Blucora Has a Balanced, Diverse Board of Directors
Blucora Has a Balanced, Diverse Board of Directors Collectively, our directors have expertise gained at some of the world’s most respected companies Former CFO of TIAA-CREF Director at Redwood Trust; formerly a director at SunEdison, Sculptor Capital and Kaiser Aluminum Extensive experience, particu
Slide 9: Directors Have a Balanced and Complementary Set of Skills and Experiences
Blucora’s Directors Have a Balanced and Complementary Set of Skills and Experiences Tenure (Years) Industry Strategic Leadership Wealth Management Tax Digital, Technology, Software Strategy, Turnaround Audit, Finance, Risk Sales, Marketing Legal, Regulatory Human Capital Public Company Board Executi
Slide 10: Blucora Has Strong Governance Practices
Blucora Has Strong Governance Practices Board Accountability, Leadership Annual director elections Majority vote standard for uncontested director elections Separate CEO and Chair Shareholder Rights Shareholders can call special meetings Shareholders can amend the charter and bylaws by simple majori
Slide 11: Compensation Program Seeks to Drive Long-Term Shareholder Value
Blucora’s Compensation Program Seeks to Drive Long-Term Shareholder Value Pillar Philosophy Principles Competitive Enable Blucora to attract, motivate and retain a diverse mix of high-caliber individuals who, over time, will maximize the potential of the business Total direct compensation opportunit
Slide 12: 2021 Executive Compensation Program Designed to Align Pay with Performance
2021 Executive Compensation Program Designed to Align Pay with Performance CEO compensation is 89% at risk, structured to reward CEO for achieving specific, measurable financial and strategic goals No increase to base salary or total direct compensation for CEO in 2021 Total compensation competitive
Slide 13: Commitment to Continued Refinement of Compensation Program
Commitment to Continued Refinement of Compensation Program Unique Circumstances of New CEO and Pandemic Disruption Led to Significant Adjustments Substantially revised compensation plan for new CEO to align with refreshed strategy New hire grants given to newly reconstituted executive team One-time
Slide 14: Social and Environmental Responsibility
Fostering an inclusive and diverse work environment and effective culture helps all of our employees to achieve and contribute: Women make up 43% of our workforce and hold 34% of our senior leadership roles* 33% of our employees are diverse* Launched a D&I Internal Mentor Program designed to support
Slide 15: Appendix
Appendix
Slide 16: Reconciliation of Adjusted EBITDA
Blucora Reconciliation of Adjusted EBITDA (1) ($ in thousands, except per share amounts) TTM ended September 30, 2021 TTM ended September 30, 2020 Adjusted EBITDA (1) GAAP Net income $ (19,249) $ (274,727) Stock-based compensation 18,345 12,356 Depreciation and amortization of acquired intangible as
Slide 17: Reconciliation of Operating Income, Excluding Corporate-Level Activity
Blucora Reconciliation of Operating Income, Excluding Corporate-Level Activity (2) (Unaudited, in thousands) TTM ended September 30, 2021 Operating income (loss) by segment: Wealth Management $ 80,724 Tax Software 89,447 Corporate-level activity (135,286) Total GAAP operating income (loss) 34,885 Le
Slide 18: Definition of Adjusted EBITDA
We define Adjusted EBITDA as net income (loss), determined in accordance with GAAP, excluding the effects of stock-based compensation, depreciation and amortization of acquired intangible assets, other loss, net, acquisition and integration costs, executive transition costs, headquarter relocation c