Ziff Davis, Inc. · NASDAQ:ZD
Ziff Davis — Q3 2020 Earnings Presentation
17 slides from Ziff Davis's earnings presentation, Nov 3, 2020
Slide 1: Third Quarter 2020 Results
T H I R D Q U A R T E R 2 0 2 0 R E S U LT S N O V E M B E R 3 , 2 0 2 0
Slide 2: Safe Harbor for Forward-Looking Statements
Safe Harbor for Forward-Looking Statements Certain statements in this presentation are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, particularly those regarding our 2020 Financial Guidance. Such forward-looking statements are subject to num
Slide 3: Risk Factors
Risk Factors The following factors, among others, could cause our business, prospects, financial condition, operating results and cash flows to be materially adversely affected: • Inability to sustain growth or profitability, and any related impact of U.S. or worldwide economic issues on customer ac
Slide 4: Q3 2020 Consolidated Financial Snapshot
Q3 2020 Consolidated Financial Snapshot (1) See slides 12, 14, 15, 16 for a GAAP to non-GAAP reconciliation of adjusted gross profit, adjusted EBITDA and adjusted earnings per diluted share for the Company as a whole and by Business for Q3 2020 4 (2) Figures are adjusted non-GAAP
Slide 5: Adjusted EBITDA and Free Cash Flow
Adjusted EBITDA and Free Cash Flow (1) (1) See slides 13 and 14 for a GAAP reconciliation of Free Cash Flow and adjusted EBITDA (2) Figures are adjusted non-GAAP 5
Slide 6: Q3 2020 Financial Snapshot By Business
Q3 2020 Financial Snapshot By Business (1) See slides 15 and 16 for a GAAP reconciliation of adjusted EBITDA for the Company as a whole and by Business for Q3 2020; Q3 2020 Cloud Services Revenue excludes $1.0MM in projected September revenues and $0.3MM in September EBITDA for the divested Voice AN
Slide 7: 2020 Guidance (Forward-Looking Statements)
2020 Guidance (Forward-Looking Statements) J2 has raised its full-year guidance of Revenues, Adjusted EBITDA and Adjusted non-GAAP EPS Previous Guidance Revised Guidance Low High Low High Midpoint Increase Revenue $1,380MM $1,400MM 4.6% $1,447MM $1,462MM Adjusted EBITDA $556MM $570MM 6.6% $595MM $60
Slide 8: Ratio Analysis
Ratio Analysis 1. Data is based on publicly-available filings and internal Company Reports 2. Based on the trading dates of Jan 2, 2013 through Feb 28, 2020; roughly mapping to post-Ziff Davis acquisition, pre-Covid timeline; Current Multiple, based on publicly-available filings and Market Capitaliz
Slide 9: Supplemental Information
"SUPPLEMENTAL INFORMATION
Slide 10: Consolidated Metrics
Consolidated Metrics (1) See slide 12 for a reconciliation of adjusted non-GAAP earnings and EPS to GAAP Net Income and diluted GAAP EPS (2) See slide 13 for a definition of Free Cash Flow and reconciliation to Net Cash Provided by Operating Activities (3) See slide 14 for a definition of adjusted E
Slide 11: Cloud Services & Digital Media Metrics
Cloud Services & Digital Media Metrics 2018 2019 2020 Cloud Services Metrics Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Revenue by Type |----------------------(in '000s)----------------------| Fixed Subscriber Revenues (1) $120,840 $123,648 $123,111 $121,350 $124,309 $140,352 $141,832 $142,420 $141,486 $140,7
Slide 12: Q3 2020 Reconciliation of GAAP to Adjusted Non-GAAP Earnings & EPS
Q3 2020 Reconciliation of GAAP to Adjusted Non-GAAP Earnings & EPS(1) Non-GAAP net income is GAAP net income with the following modifications: (1) elimination of share-based compensation; (2) elimination of certain acquisition related integration costs; (3) elimination of interest costs in excess of
Slide 13: GAAP Reconciliation - Free Cash Flow
GAAP Reconciliation - Free Cash Flow(1)(2) (1) Free Cash Flow is defined as net cash provided by operating activities, less purchases of property, plant and equipment, plus excess tax benefits (deficits) from share based compensation, plus IRS settlement, plus contingent consideration. Free Cash Flo
Slide 14: GAAP Reconciliation - Adjusted EBITDA
GAAP Reconciliation - Adjusted EBITDA (1)(2) (Figures in Millions) (1) Adjusted EBITDA is defined as net income plus interest and other expense, net; income tax expense; depreciation and amortization and the items used to reconcile GAAP to Adjusted Non-GAAP EPS. Adjusted EBITDA amounts are not meant
Slide 15: Q3 2020 Reconciliation of GAAP to Adjusted EBITDA
Q3 2020 Reconciliation of GAAP to Adjusted EBITDA(1) NOTE 1: Table above excludes certain intercompany allocations NOTE 2: Beginning in the third quarter of 2020, certain expenses associated with the Corporate entity that were previously allocated to the Cloud Services business and the Digital Media
Slide 16: Q3 2019 Reconciliation of GAAP to Adjusted EBITDA
Q3 2019 Reconciliation of GAAP to Adjusted EBITDA(1) NOTE 1: Table above excludes certain intercompany allocations NOTE 2: The table above is impacted by certain expenses associated with the Corporate entity that were allocated to the Cloud Services business and Digital Media business as these costs
Slide 17: J2 Global
J2 GLOBAL