Park Dental Partners, Inc. · NASDAQ:PARK
Park Dental Partners — IPO Roadshow (September 2025)
28 slides from Park Dental Partners's IPO roadshow presentation, Sep 25, 2025
Slide 1: Investor Presentation September 2025
ECM 25 - 63 Investor Presentation September 2025
Slide 2: Disclaimer
2 ECM 25 - 63 Disclaimer The content of this document is for information purposes only. It contains confidential information pertaining to the busines s a nd affairs of Park Dental Partners, Inc. (along with its subsidiaries and affiliates, “we”, “us”, and “our”). It does not constitute an offer to
Slide 3: Offering Summary
3 ECM 25 - 63 Offering Summary Park Dental Partners, Inc. Issuer PARK (NASDAQ) Ticker / Exchange Initial Public Offering Offering Type Common Stock Securities Issued $20M Anticipated Offering Size 15% Over - allotment General corporate purposes, working capital, and growing our number of affiliates
Slide 4: Financial Overview
4 ECM 25 - 63 Financial Overview
Slide 5: Park Dental Partners At A Glance
5 ECM 25 - 63 Park Dental Partners AT A GLANCE 203 Dentists $229.8M 2024A Revenue Highly Recurring Revenue $122.0M 6ME 06/30/25 Revenue 3.8% YoY Growth 713k 2024 Patient Visits 330k 2024 Active Patients (3) 85 practice locations MN / WI $19.4M 2024A Adj. EBITDA (1) 8.4% Margin $13.0M 6ME 06/30/25 Ad
Slide 6: Investment Highlights
6 ECM 25 - 63 Investment Highlights Established Market Leader with Proven Growth Track Record x 50+ years of dental practice operations x 7.9% annualized revenue growth since 2013 x Among the largest independent DSOs in US by dentist count (203 doctors) Patient - Centered Care Driving Sustainable Re
Slide 7: $173B U.S. Dental Market
7 ECM 25 - 63 $173B U.S. Dental Market Market is expected to grow at a 4.9% CAGR through 2032 (1) Steady Industry Growth Among largest independent DSO based on total dentists Successful track record of scaling dentists and practice locations Market Position We can be the consolidator of choice for a
Slide 8: Park Dental Timeline: 50+ Years of Revenue Growth
8 ECM 25 - 63 Acquisitions (1) $100 $121 $129 $134 $144 $156 $167 $152 $192 $202 $224 $230 2013A 2014A 2015A 2016A 2017A 2018A 2019A 2020A 2021A 2022A 2023A 2024A 1) Acquisitions transaction types include reverse roll - in, roll - in, and standalone acquisitions Note: $ in USD Millions Park Dental T
Slide 9: Leadership Team
9 ECM 25 - 63 Leadership Team Christopher (“CJ”) Bernander Chief Financial Officer Pete Swenson Chief Executive Officer, Chairman Dr. Chris Steele Chief Clinical Officer, General Practices Dr. Alan Law Chief Clinical Officer, Specialty Practices Brian Zard Vice President of Operations Jason Halupnic
Slide 10: Board of Directors
10 ECM 25 - 63 Board of Directors Dr. Alan Law Practicing Endodontist with over 25 years of dental industry and leadership experience Select Experience: President, The Dental Specialists Chief Clinical Officer, Park Dental Partners President, American Association of Endodontists President, American
Slide 11: Dental Services Industry Evolution
11 ECM 25 - 63 DSO 350+ 400+ 450+ 450+ ~600 ~700 700+ 1,000+ 1,100+ 1,750+ Practices 42 24 31 43 21 30 44 24 45 39 & D.C. States Privately Owned Privately Owned PE Owners Dental Services Industry Evolution 1990 2000 2010 2020 Today Private Equity consolidation Rapid development of dental technology
Slide 12: Dental Resource Organization Model
12 ECM 25 - 63 Dental Resource Organization Model 1) Source: American Dental Association Dental Resource Organization Primary Benefit: Dentists focus on clinical dentistry Benefit to Dentists Benefit to Patients Administrative Support Professional Development Work / Life Balance Equity Ownership Non
Slide 13: Dental Practice Landscape of Alternatives
13 ECM 25 - 63 Dental Practice Landscape of Alternatives Independent Practices Private Equity Benefits to Dentists Professional Development: Back Office / Administrative Support: Dentist Ownership Benefits: Non - Clinical Shared Services: Culture & Values: Park Dental believes it offers a compelling
Slide 14: Attracting Talent and Earning Patient Loyalty Drives Growth
14 ECM 25 - 63 Attracting Talent and Earning Patient Loyalty Drives Growth Patients Choose Us Professionals Choose Us Quality of Care Multi - Specialty Services Technology Professionalism Community Involvement Trusted Brand Quality Patient Centered Care World - Class Support Value - Based Culture Ow
Slide 15: Commitment to Highest Quality Care
15 ECM 25 - 63 1) Source: Press Ganey 2) Accreditation Association for Ambulatory Health Care Note: Data as of December 31, 2024 x Commitment to highest quality care - 97 th percentile for Press Ganey patient satisfaction (1) and 2 nd dental group in the nation to be accredited 46 years ago (2) x Fo
Slide 16: Attractive Model for Professionals at All Career Stages
16 ECM 25 - 63 Note: Data as of December 31, 2024, except total dentists as of 06/30/25 203 total dentists 42 % growth since 2015 900+ clinical team members 10 Year average dentist tenure Attractive Model for Professionals at All Career Stages ATTRACT WORLD - CLASS TALENT 16 World Class Support Cent
Slide 17: Factors Driving Future Growth
17 ECM 25 - 63 $173B U.S. Market (1) 3 – 5% industry CAGR (1) >200k U.S. Licensed Dentists Stable, Growing Market Attract World - Class Talent Differentiated operating model for dental professionals (versus p rivate equity - backed DSOs) Expand to >1% of U.S. dentists Our professionals uphold our pa
Slide 18: Our Established Footprint
18 ECM 25 - 63 57 19 9 8 1) Park Dental location count includes Single Office and The Facial Pain Center locations due to reasons including co - location 2) The Dental Specialist – Orthodontics has six practices located within larger The Dental Specialist multispecialty practices Note: Average activ
Slide 19: Park Dental Partners M&A Strategy
19 ECM 25 - 63 Example M&A Targets & Illustrative Acquisition Price (1) Small Practice (1 Doctor): $0.7M - $1.2M (5x - 6x EBITDA) Large Practice (10 Doctors): $8M - $13M (6x - 7x EBITDA) Enterprise Practice (40 Doctors): $30M - $45M (7x - 9x EBITDA) ✓ Attract Dental Practices & Groups - Leverage ope
Slide 20: Efficiently Scaling Our Business: Build and Buy
20 ECM 25 - 63 x Leverage local market insights to secure high - traffic sites x Increase density to drive operating and marketing efficiencies x Instant integration into a low - cost operating structure x Utilize our current central staff x New dentists & hygienists are trained x 11 new practices b
Slide 21: Technology Enables Our Growth Strategy and Margin Expansion
21 ECM 25 - 63 Cost prohibitive for small practices Requires managing multiple vendors Enables high quality clinical outcomes Accelerates patient growth Technology Enables Our Growth Strategy and Margin Expansion Park Dental’s cutting - edge technology suite:
Slide 22: Financial Overview
Financial Overview @ PARK
Slide 23: Growth Formula
23 ECM 25 - 63 Growth Formula Revenue Growth Profile › >300k Active patients › >700k Patient visits per year › 89% General practice patient retention rate › 97 th Percentile Patient satisfaction scores (Press Ganey) › 16 Acquisitions completed from 2020 – 2024 › 3.6% Increase in same practice revenu
Slide 24: Long-Term Target Operating Model
24 ECM 25 - 63 Long - Term Target Operating Model 6 Months Ending 12 Months Ending Drivers Long - Term Goals (4) 06/30/25 06/30/24 2024A 2023A (% of Sales unless otherwise noted) $122.0 $117.5 $229.8 $223.5 Revenue › Acquisitions & Footprint Efficiencies 7.0% – 10.0% 2.8% 10.6% Revenue Growth (1) ›
Slide 25: 100% Doctor/Management Owned Capital Structure
25 ECM 25 - 63 100% Capital Structure Drives Stakeholder Alignment Doctor/Management Owned 81 Unique Shareholders ~5% Largest Shareholder Ownership Position 1.8M Common Outstanding Shares Capital Structure Capital Profile 5.2M Fully Diluted Shares (Includes 3.5M restricted shares that vest 25% upon
Slide 26: Balance Sheet
26 ECM 25 - 63 Balance Sheet 12/31/2024 Current Assets 12,579$ PP&E 30,063 COLI Life Insurance Investments 16,045 Goodwill & Intangibles 27,627 Deferred Income Taxes 18,158 Lease Assets - Right of Use 44,396 Total Assets 148,869$ Current Liabilities 31,203 Lease Liabilities 41,954 Non-Qualified Defe
Slide 27: Adjusted EBITDA Reconciliation
27 ECM 25 - 63 Adjusted EBITDA is defined as earnings (loss) from operations less depreciation and amortization, share based compensations, transaction costs, and one - time items. Earnings (loss) from operations excludes interest, interest expense, gain (loss) on sale of equipment, change in fair v
Slide 28: parkdentalpartners.com
PARKDENTALPARTNERS.COM ECM 25 - 63