Pensionbee Group Plc · LSE:PBEE
Pensionbee — H1 2022 Earnings Presentation
22 slides from Pensionbee's earnings presentation, Jul 21, 2022
Slide 1: Results Presentation for the six months to 30 June 2022
Results Presentation for the six months to 30 June 2022 www.pensionbee.com 1
Slide 2: Agenda
Agenda 1 Overview of 1H 2022 2 Financial Update 3 Outlook 4 Appendix www.pensionbee.com 2
Slide 3: Overview of 1H 2022
1 Overview of 1H 2022 www.pensionbee.com 3
Slide 4: 1H 2022 Financial & Operational Highlights (1/2)
1H 2022 Financial & Operational Highlights (1/2) ● Excellent momentum in growth of customer base, with the addition of more than 41,000 Invested Customers year to date and overall Invested Customer base of c.160,000 ● Resilience of Assets under Administration and revenue despite volatile markets; dr
Slide 5: 1H 2022 Financial & Operational Highlights (2/2)
1H 2022 Financial & Operational Highlights (2/2) Development of AUA since Inception (£bn) Development of ARR Revenue since Inception (£m) £2.7bn Dec-18 to Jun-22 Dec-18 to Jun-22 CAGR 82% CAGR 80% 897k 246k Registered Active 159kInvested £2.7bn Assets under £16m LTM £17m Annual Run Rate >95% Custome
Slide 6: PensionBee's Growth Story
PensionBee’s Growth Story Significant growth achieved across Customers, AUA and Revenue Translates into Increasing AUA Base Growth in Invested Customers (000s) Which Drives ARR Revenue (£m) (£m) +72% +35% +37% 41k New Invested Customers in 1H 2022, a YoY increase of +80% of New Invested Customers co
Slide 7: Business Updates to further our Strategic Goals (1/2)
Business Updates to further our Strategic Goals (1/2) ● 1 Efficient investment in customer acquisition and brand awareness - Majority of marketing budget for the year has now been deployed as planned - TV, Out of Home and Paid Search were main channels for the first half and brand investment will su
Slide 8: Business Updates to further our Strategic Goals (2/2)
Business Updates to further our Strategic Goals (2/2) Invested Customers per Staff Member(1) ●3 Continued investment in and development of an industry leading technology platform +35% - Strong growth in topline productivity metric of Invested Customers per Staff Member showing operational leverage -
Slide 9: Financial Update
2 Financial Update www.pensionbee.com 9
Slide 10: AUA Growth Driven by New and Existing Customers
AUA Growth Driven by New and Existing Customers High customer retention and strong continuous net flows generate attractive lifetime value Continuous Compounding of AUA (£bn) Strong Net Flows from New & Existing Customers(2) (£m) c.£2.7bn Annual Run Rate Revenue (£m) Quality of AUA YoY +35% Cohort A
Slide 11: High Retention Rate Generates Compounding AUA
High Retention Rate Generates Compounding AUA Customer Retention Rate(1) Net Flows(2) by Customer Cohorts (%) (£ m) £353m Net Flows 2,587 2,676 from New Customers Cumulative Market Growth £128m Net Flows Cumulative Net Flows £128m Cohort 2022 from Existing Customers Cumulative Net Flows +£95 Cohort
Slide 12: Scalability Generates Operating Leverage over Time
Scalability Generates Operating Leverage over Time Resilient revenue margin combined with scalability of technology platform achieves operating leverage Resilient Gross Revenue Margin of 69 bps Scalable Technology Platform Drives Margin Improvement Supports Revenue Growth Annual Run Rate Revenue (£m
Slide 13: Disciplined Marketing Investment Drives Healthy Growth
Disciplined Marketing Investment Drives Healthy Growth Data-driven acquisition approach has enabled scaled-up marketing investment PensionBee Continues to Scale up Marketing Investment Whilst Maintaining Cost Discipline Cumulative Marketing Expenditure (£m)(1) Cumulative Invested Customers (k) and C
Slide 14: Illustrative Unit Economics Demonstrate Lifetime Revenue Profile
Illustrative Unit Economics Demonstrate Lifetime Revenue Profile 2 LTV/CAC ✔ Methodological data driven approach to Asset Driven customer acquisition Lifetime Revenue 3 ▪ Scalable technology platform 4 ✔ Attractive LTV/CAC ▪ Low cost to serve customers Compelling Unit Economics ✔ Attractive Payback
Slide 15: Outlook
3 Outlook www.pensionbee.com 15
Slide 16: Medium Term Financial Objectives & Guidance
Medium Term Financial Objectives & Guidance Metric Guidance Provided in Prospectus FY 2022 Guidance Volatile markets. High double digit revenue growth over short to medium term. High double digit revenue growth expected in the short-term. Various Revenue Growth Solid double-digit growth over the lon
Slide 17: Key Investment Highlights
Key Investment Highlights ● 1 Vast and Growing TAM(1) underpinned by Secular Growth Drivers - Transferable Pensions market is vast and growing, £722bn in size with 13% CAGR(2) - Driven by regulatory change and increased pension awareness across the UK population ●2 Differentiated Value Proposition -
Slide 18: Further Updates
Further Updates ● Interim Results 2022 on Thursday 22 September 2022 ● 3Q 2022 trading update announcement on Thursday 20 October 2022 www.pensionbee.com 18
Slide 19: 1H 2022 Highlights
1H 2022 Highlights KPIs As at Period End Financials Over a Trailing 12-month Period Ending Jun-2021 Jun-2022 YoY Jun-2021 Jun-2022 YoY AUA (£m) 1,987 2,676 35% LTM Revenue (£m) 9 16 72% AUA Retention Rate (% of AUA) >95% >95% Stable Annual Run Rate (ARR) (£m) 12 17 37% Registered Customers ('000) 53
Slide 20: Appendix
4 Appendix www.pensionbee.com 20
Slide 21: Glossary
Glossary Assets under Administration (AUA) Assets under Administration (AUA) is the total invested value of pension assets within PensionBee Invested Customers’ pensions. It measures the new inflows less the outflows and records a change in the market value of the assets. AUA is a measurement of the
Slide 22: Disclaimer
Disclaimer The information contained in this presentation has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in it.