Getty Images Holdings, Inc. · NYSE:GETY
Getty Images — Q2 2022 Earnings Presentation
18 slides from Getty Images's earnings presentation, Aug 10, 2022
Slide 1: Q2 2022 Financial Results
ID # , Photographer Name 1386713385, Mark Thompson Contact Press: press.gettyimages.com Email: investor.relations@gettyimages.com Website: investors.gettyimages.com Q2 2022 Financial Results
Slide 2: Forward-Looking Statements
2 Forward - Looking Statements Certain statements included in this presentation that are not historical facts are forward - looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995 . Forward - looking statements may be ide
Slide 3: Non-GAAP Financial Measures
3 Non - GAAP Financial Measures In order to assist investors in understanding the core operating results that our management uses to evaluate the business and for financial planning, we present the following non - GAAP measures : ( 1 ) Adjusted EBITDA, ( 2 ) Adjusted EBITDA Margin, and ( 3 ) Free Ca
Slide 4: Second Quarter 2022 Financial Summary
4 Second Quarter 2022 Financial Summary Note tha t the Company went public via its SPAC merger with CCNB on July 22, 2022. All results reported in these materials reflect the C ompany's financial results and balance sheet prior to the close of that transaction. 148.1 (66.1%) 146.7 (62.9%) 72.1 (32.2
Slide 5: Key Operating Metrics (KPIs)
5 Key Operating Metrics (KPIs) $ millions Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Y/Y Change LTM total purchasing customers (thousands) 1 749 766 794 825 843 +12.6% LTM total active annual subscribers (thousands) 2 66 70 75 81 89 +34.8% LTM paid download volume (millions) 3 85 87 89 89 93 +9.4% LTM annual sub
Slide 6: Balance Sheet & Liquidity
6 Balance Sheet & Liquidity $ millions June 30, 2022 March 31, 2022 Cash & Cash Equivalents 1 $213.8 $210.8 Available under Revolving Credit Facility 2 $80.0 $80.0 Liquidity $293.8 $290.8 Term Loans Outstanding – USD Tranche: $992.6 $995.2 Term Loans Outstanding – EUR Tranche 3 : $438.9 $468.2 Total
Slide 7: Full Year 2022 Guidance
7 Full Year 2022 Guidance $ Millions 517 533 597 295 266 307 37 16 15 $955.0 $849 $815 $919 $980 FY19A FY20A FY21A FY22E Creative Editorial Other Revenue ($ in millions) Note: Please see appendix for a reconciliation of non - GAAP measures. $261 $273 $309 $320 31% 34% 34% 33% FY19A FY20A FY21A FY22E
Slide 8: About Our Business
ID # , Photographer Name About Our Business 1304733625, Chadchai Ra - ngubpai
Slide 9: Company Overview: Preeminent Global Content Creator and Marketplace
9 Content Consumers 2 00+ Countries 2.6bn+ Searches / Year ~48% YTD Q2 ‘22 Subscription Revenue 492k+ New Customers / Year 1 Content Creators 300 Content Partners 496k+ Contributors 80k+ Exclusive Contributors 115+ Staff Photographers and Videographers 1 New Customers / Year based on Q2 '22 LTM Comp
Slide 10: Growth Levers and Strategy
10 Video Upsell Opportunity Attractive Subscription Business Model Corporate Customer Opportunity Partnerships, M&A and NFTs AI / ML & Data Analytics Superior Marketing ROI 1 4 6 2 3 5 x Accelerate recurring growth momentum x Further penetrate and expand enterprise subscriptions and unlock significa
Slide 11: Second Quarter 2022 Highlights
11 Second Quarter 2022 Highlights Partnerships • Penske Media Corporation (PMC) exclusive global distribution partner Content • Queen’s Platinum Jubilee • Official Photographer for - Tribeca Festival, The Met Gala, Billboard Music Awards, • Official Photographer for – British Tennis, NHL, NBA, Commo
Slide 12: Appendix
ID # , Photographer Name Appendix 1317642043, AerialPerspective Images
Slide 13: Financial Summary
13 Financial Summary Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Revenue $224.2 $237.0 $239.1 $231.0 $233.3 Currency Neutral Growth (YoY) 3 15.4% 11.3% 7.8% 8.3% 8.3 % Reported Growth (YoY) 20.5% 13.5% 7.9 % 5.8% 4.1% Revenue Less Cost of Revenue $163.3 $174.4 $174.0 $169.1 $168.2 % of revenue 72.8% 73.6% 72.8% 7
Slide 14: Revenue by Product
14 Revenue by Product Q2'22 % of revenue Q2'21 % of revenue $ Change Reported CN 3 Creative $146.7 62.9 % $148.1 66.1 % ($1.4) (1.0)% 3.0 % Editorial 1 82.9 35.5 % 72.1 32.2% 10.8 15.0 % 19.8 % Other 2 3.7 1.6 % 4.0 1.8 % (0.3) (6.2 )% (2.5 )% 233.3 100.0 % 224.2 100.0 % 9.1 4.1 % 8.3 % 1 These incr
Slide 15: Reconciliation of Adjusted EBITDA and Margin by Year
15 Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin by Year 1 - Expenses and gains related to our debt refinancing consummated in the first quarter of 2019. 2 - Fair value adjustments for our swaps and foreign currency exchange contracts, foreign exchange gains (losses) and other insi gn
Slide 16: Reconciliation of Adjusted EBITDA and Margin by Quarter
16 Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin by Quarter Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Net income (loss) $12.5 $33.6 $41.5 $25.1 $38.7 Add/(less) non - GAAP adjustments: Depreciation and amortization $25.5 $25.2 $24.9 $24.7 $24.3 Other operating expense - net $0.4 $(0.2) $0.8 $2.7
Slide 17: Summary Cash Flow and Reconciliation of Free Cash Flow
17 Summary Cash Flow and Reconciliation of Free Cash Flow Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Net cash provided by operating activities $46.5 $42.6 $59.4 $49.4 $30.9 Acquisition of property and equipment (13.6) (11.4 ) (12.6) (16.2) (14.1) Acquisition of business 1 (89.1) (0.1) — — — Purchase of minority
Slide 18: Thank You
ID # , Photographer Name Thank You 532512992, Bill Ross
Getty Images Holdings — Q2 2022 Earnings Presentation on 6ix