Slide 1: First Quarter 2021 Results
F I R S T Q U A R T E R 2 0 2 1 R E S U LT S M AY 11 , 2 0 2 1
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 2021 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: Q1 2021 Consolidated Financial Snapshot
Q1 2021 Consolidated Financial Snapshot Revenue (in millions) $398.2 $332.4 $385.6 $313.0 Q1 2020 Q1 2021 PRO FORMA AS REPORTED Adjusted EBITDA (1)(2) Adjusted EPS (1)(2) (in millions) (in millions) $156.3 $2.18 $116.8 $1.40 $151.5 $2.11 $110.2 $1.32 Q1 2020 Q1 2021 Q1 2020 Q1 2021 PRO FORMA AS REPO
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: Q1 2021 Financial Snapshot By Business
Q1 2021 Financial Snapshot By Business ```CLOUD SERVICES DIGITAL MEDIA Revenue Revenue (in millions) (in millions) $169.8 $171.4 $226.8 $150.4 $158.8 $162.6 Q1 2020 Q1 2021 Q1 2020 Q1 2021 PRO FORMA AS REPORTED Adjusted EBITDA (1)(2) Adjusted EBITDA (1)(2) (in millions) (in millions) $81.6 $83.4 $84
Slide 7: 2021 Financial Guidance
2021 FINANCIAL GUIDANCE
Slide 8: 2021 Guidance (Forward-Looking Statements)
2021 Guidance (Forward-Looking Statements) (1)(2)(3) J2 has raised its full-year guidance of Revenues, Adjusted EBITDA and Adjusted non-GAAP EPS Previous Guidance (1) Revised Guidance (1) Midpoint Midpoint Low Midpoint High YoY % Midpoint Low Midpoint High YoY % Increase Increase Increase Pro-Forma
Slide 9: Supplemental Information
"SUPPLEMENTAL INFORMATION
Slide 10: Consolidated Metrics
Consolidated Metrics 2019 2020 2021 J2 Consolidated Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Revenue by Business |---(in '000s)---| Cloud Services Revenues $152,245 $169,132 $171,163 $169,296 $169,784 $167,058 $170,248 $171,372 $171,379 Digital Media Revenues $147,647 $153,298 $172,975 $236,290 $162,608 $163,926
Slide 11: Cloud Services & Digital Media Metrics
Cloud Services & Digital Media Metrics 2019 2020 2021 Cloud Services Metrics Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Revenue by Type |----------------------(in '000s)----------------------| Fixed Subscriber Revenues (1) $124,309 $140,352 $141,832 $142,420 $141,486 $140,755 $144,525 $144,864 $144,445 Variable Sub
Slide 12: Q1 2021 Reconciliation of GAAP to Adjusted Non-GAAP Earnings & EPS
Q1 2021 Reconciliation of GAAP to Adjusted Non-GAAP Earnings & EPS Figures in Thousands Three Months Ended March 31, 2020 2021 Cost of revenues $ 59,131 $ 57,822 Plus: Share based compensation (1) (134) (132) Acquisition related integration costs (2) (55) (40) Amortization (4) (450) (596) Adjusted n
Slide 13: GAAP Reconciliation - Free Cash Flow
GAAP Reconciliation - Free Cash Flow(1)(2) Figures in Thousands 2014 2015 2016 2017 2018 2019 2020 Q1 2020 Q1 2021 Net cash provided by operating activities $ 177,231 $ 229,061 $ 282,387 $ 264,420 $ 401,325 $ 412,539 $ 480,079 $ 102,036 $ 178,724 Less: Purchases of property and equipment (11,221) (1
Slide 14: GAAP Reconciliation - Adjusted EBITDA
GAAP Reconciliation - Adjusted EBITDA (1)(2) (Figures in Millions) J2 Consolidated 2014 2015 2016 2017 2018 2019 2020 Q1 2020 Q1 2021 GAAP Net Income $ 125.3 $ 133.6 $ 152.4 $ 139.4 $ 128.7 $ 218.8 $ 150.7 $ (6.4) $ 77.9 Plus: Income tax expense 29.8 23.3 59.0 60.5 44.8 (19.4) 68.4 8.7 5.7 Interest
Slide 15: Q1 2021 Reconciliation of GAAP to Adjusted EBITDA
Q1 2021 Reconciliation of GAAP to Adjusted EBITDA(1) Figures in Thousands Cloud Services Digital Media Corporate Total Revenues GAAP revenues $ 171,379 $ 226,806 $ - $ 398,185 Gross profit GAAP gross profit $ 134,415 $ 206,013 $ (65) $ 340,363 Non-GAAP adjustments: Share-based compensation 129 3 - 1
Slide 16: Q1 2020 Reconciliation of GAAP to Adjusted EBITDA
Q1 2020 Reconciliation of GAAP to Adjusted EBITDA(1) Figures in Thousands Cloud Services Digital Media Corporate Total Revenues GAAP revenues $ 169,784 $ 162,608 $ 1 $ 332,393 Gross profit GAAP gross profit $ 131,424 $ 141,837 $ 1 $ 273,262 Non-GAAP adjustments: Share-based compensation 132 2 - 134
Slide 17: Reconciliation of Non-GAAP to Pro-Forma
Reconciliation of Non-GAAP to Pro-Forma (Figures in $USD Millions, except per share amounts) Q1 2020A Q1 2021A Revenues Stated Revenues $332.4 $398.2 Adjustments (1) ($19.4) ($12.6) Total Adjusted Pro-Forma Revenue $313.0 $385.6 EBITDA Stated EBITDA $116.8 $156.3 Adjustments (1) ($6.6) ($4.8) Total
Slide 18: J2 Global
J2 GLOBAL