Goodfood Market Corp. · TSX:FOOD
Goodfood Market — Q2 2020 Earnings Presentation
13 slides from Goodfood Market's earnings presentation, Apr 8, 2020
Slide 1: Q2 Fiscal 2020
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Slide 2: Caution Regarding Forward-looking Statements
Caution Regarding Forward-looking Statements This presentation contains forward-looking information within the meaning of applicable Canadian securities legislation. Such forward-looking information includes, but is not limited to, information with respect to our objectives and the strategies to ach
Slide 3: Q2-20 – Key Highlights
Q2-20 – Key Highlights Continuing to consistently deliver strong growth and margin improvement (in millions of Canadian $ except active subscribers and margins) Q2-20 Q2-19 Y-o-Y Active subscribers (1) 246,000 159,000 55% Revenue $58.8 $36.6 61% Gross merchandise sales (1) 68.9 46.5 48% Gross prof
Slide 4: Q2-20 – Key Business Highlights
Q2-20 – Key Business Highlights Expanded operating footprint and product offering to serve Canadians better and capture more of their grocery basket • Successful build-out and opening of Vancouver fulfillment centre • Operational since the beginning of March and deliveries ramping up • Continuing to
Slide 5: COVID-19 Impact
COVID-19 Impact Goodfood has experienced rising demand, increasing revenue and also stretching operations and logistics • Faster shift to online e-commerce grocery, accelerating adoption • Current shift could have significant permanent impact • Meal kits seen as safest food and grocery delivery opti
Slide 6: Subscribers and Revenue
Q2-20 – Subscribers(1) and Revenue Continued penetration Coast-to-Coast driving subscriber (1) and revenue growth of 55% and 61% year-over-year, respectively, highlighting Goodfood’s successful growth strategy Active Subscribers(1) Revenue End of period C$ millions LTM Revenue(1): $210m 246,000 $58.
Slide 7: Gross Merchandise Sales
Q2-20 – Gross Merchandise Sales(1) Goodfood surpassed the $300 million GMS run-rate (1) milestone as at the end of Q2-20 Gross Merchandise Sales(1) GMS Run-rate(1) C$ millions C$ millions $68.9 $302.5 48% 36% $221.9 $46.5 $90.6 $18.8 Q2-18 Q2-19 Q2-20 Q2-18 Q2-19 Q2-20 (1) This is a Metric or non-IF
Slide 8: Gross Profit and Adjusted Gross Profit
Q2-20 – Gross Profit and Adjusted Gross Profit(1) Margins continue their strong positive upward trend with significant improvement driven by operational efficiencies, improved buying power and automation Gross Profit Adjusted Gross Profit(1) & Gross Margin $30.0 & Adjusted Gross Margin(1) 45.0% C$ m
Slide 9: Adjusted EBITDA and Net Loss
Q2-20 – Adjusted EBITDA(1) and Net Loss Investments in market share leadership, scale, penetration and density demonstrating operating leverage and leading to improvement in Adj. EBITDA(1) margin of 10.0pp y-o-y Adjusted EBITDA(1) (loss) Net Loss $7.0 & Adjusted EBITDA Margin(1) $8.0 C$ millions C$
Slide 10: CFO and CAPEX
Q2-20 – CFO and CAPEX Use of cash from operations for the quarter driven by working capital items such as deferred revenue and payables, as Goodfood onboards new suppliers, builds inventory of new products and adds a facility; investment in capex (Vancouver) to improve client proximity and experienc
Slide 11: Q & A
Q &A 11
Slide 12: Metrics and Non-IFRS Financial Measures
Metrics and Non-IFRS Financial Measures Goodfood reports its financial results in accordance with International Financial Reporting Standards ("IFRS"). Goodfood also uses non-IFRS measures in this presentation that do not have any standardized meaning prescribed by IFRS, including gross merchandise
Slide 13: Company Contact – Investor Relations
COMPANY CONTACT – INVESTOR RELATIONS Philippe Adam, Chief Financial Officer Roslane Aouameur, Director Investor Relations 1 (855) 515-5191 1 (855) 515-5191 IR@makegoodfood.ca IR@makegoodfood.ca