Nextdoor Holdings, Inc. · NYSE:NXDR
Nextdoor — Khosla Ventures Acquisition Co. II — SPAC Merger (September 2021)
122 slides from Nextdoor's SPAC merger presentation, Sep 20, 2021
Slide 1: Exhibit 99.1 September 2021
Exhibit 99.1 September 2021
Slide 2: Disclaimer
Disclaimer This Presentation (together with oral statements made in connection herewith, the “Presentation”) relates to the proposed Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various business combination (the “Business Combi
Slide 3: Disclaimer
Disclaimer This presentation includes certain non-GAAP financial measures (including on a forward-looking basis). These non-GAAP A list of the names of Nextdoor's directors and executive officers and a description of their interests in the proposed measures are an addition, and not a substitute for
Slide 4: Agenda
Agenda Founder’s Story Sarah Friar, Prakash Janakiraman, Opening Remarks + Community & Chief Executive Officer Co-Founder, Chief Architect Moderation Kiran Prasad, Our Product Our Brand Maryam Banikarim, Head of Product Head of Marketing Heidi Andersen, Mike Doyle, Revenue Financials Head of Revenue
Slide 5: Chief Executive Officer Sarah Friar
Chief Executive Officer Sarah Friar
Slide 6: Nextdoor was started with a spark
Nextdoor was started with a spark... We have become increasingly disconnected from family, friends, neighbors, and social structures,... a serious “ threat to our civic and personal health.”
Slide 7: Data strengthened our founders' beliefs in Nextdoor's why
…and the data strengthened our founders’ beliefs in Nextdoor’s why 29% of Americans know very few of their neighbors, and 28% of Americans said that they didn't know a single “ neighbor by name.” - 2010 PEW Research Study
Slide 8: Connecting neighborhoods one neighbor at a time
8 Connecting neighborhoods Connecting neighborhoods one neighbor at a time one neighbor at a time
Slide 9: Our purpose
Our purpose To cultivate a kinder world where everyone has a neighborhood they can rely on
Slide 10: Strong competitive moat with viral growth loops built in
Strong competitive moat with viral growth loops built in Real people Local Hyperlocal proximity Businesses Word-of-Mouth Recommendations Trusted information Civic Local perspective Engagement Instant distribution Neighbors Businesses Data/ Local Targeting Help me plug in Hyperlocal at scale Recommen
Slide 11: Neighbors are key to our well being
Neighbors are key to our well being Loneliness has a “ reduction of life span …similar to smoking Neighborhood (1) 15 cigarettes a day” Work Vivek Murthy And knowing just 6 neighbors reduces the (2) risk of loneliness (1) Harvard Business Review, Work and the Loneliness Epidemic - Reducing Source: H
Slide 12: Structural shift towards local
And we’re seeing a structural shift towards local 73% 80% 75% (3) say neighbors are one of expect to work from home plan to shop more locally (2) the most important at least 3x per week (1) communities in their lives Sources: (1) Open Mind Strategy 2020, (2) Owl Labs October, 2020, (3) Brightpearl,
Slide 13: Nextdoor is THE neighborhood network
Nextdoor is THE neighborhood network ~1 in 3 63M+ 29M+ U.S. Households Verified Neighbors Weekly Active Neighbors (WAUs) U.S. household and global Verified Neighbor data as of 6/30/21. Global WAUs reflect the average for the quarter ended 6/30/21.
Slide 14: Established product-market fit: enduring neighbor retention
Established product-market fit: Enduring neighbor retention... 75% 65% 59% 55% After two years >50% of our audience remains engaged 3-month 6-month 12-month 24-month Monthly active users (MAU) defined as count of unique neighbors who have started a session or opened a content email over the trailing
Slide 15: Strong network effects
...Combined with strong network effects... Our path to engagement growth is proven 2.3x increase in weekly engagement as more neighbors join Percentage of Neighbors Active Weekly reflects U.S. WAUs divided by All time Verified Neighbors.. Data as of 3/31/21.
Slide 16: Increasing penetration globally, top neighborhoods exceeding 60% daily engagement
Increasing penetration globally, with top neighborhoods exceeding 60% daily engagement Neighborhoods with top-quartile (>65%) penetration Top 10 engaged neighborhoods (>60% daily engagement) VERNON, VERNON, BC BC MECHANICSBUR MECHANICSBUR G G MILLSBORO MILLSBORO LANCASTER LANCASTER ELOY ELOY ORACLE
Slide 17: Investment thesis
Investment Network effects with online & offline connection is unique thesis Each social link is highly valuable because most commerce is local Robust current digital advertising market, future new revenue models Many vectors for sustained revenue growth High barrier to entry: network difficult & ti
Slide 18: Diversity distribution: board directors & advisors
Diversity distribution: board directors & advisors 51% 41% Women People of Color
Slide 19: Experienced management team
Experienced management team Heidi Andersen Maryam Banikarim Mike Doyle Sarah Friar Prakash Janakiraman Head of Revenue Head of Marketing Chief Financial Officer Chief Executive Officer Co-Founder, Chief Architect Craig Lisowski John Orta Bryan Power Kiran Prasad Antonio Silveira Head of Data, Inform
Slide 20: Seasoned Board of Directors
Seasoned Board of Directors John Hope Bryant Sarah Friar Bill Gurley Leslie Kilgore Mary Meeker Entrepreneur, founder, chairman, Chief Executive Officer Benchmark Former Netflix CMO Bond CEO, author, activist Jason Pressman David Sze Nirav Tolia Chris Varelas Andrea Wishom Shasta Ventures Greylock C
Slide 21: Head of Product Kiran Prasad
Head of Product Kiran Prasad
Slide 22: Connecting neighborhoods
Connecting neighborhoods Neighbors & Organizations Businesses: SMBs and large brands Public services: public agencies, non profits Other: HOAs, churches, schools Shawn 12 South Nashville, TN, USA
Slide 23: Our strategy
Our strategy Enable neighbors and organizations to build an active valued community
Slide 24: Community
Community Shared attribute Belonging Place or interest
Slide 25: Valued
Valued Trust Dependable Exchange value
Slide 26: Active
Active Involved in the Communicate Give and community get help
Slide 27: Neighbors want to stay up to date with what's happening
Neighbors want to stay up to date with what’s happening
Slide 28: Neighbors are looking for resources (and pets)
Neighbors are looking for resources (and pets)
Slide 29: Neighbors want to discover nearby events and activities
Neighbors want to discover nearby events and activities
Slide 30: Neighbors want to connect with others who share their interests
Neighbors want to connect with others who share their interests
Slide 31: Businesses want to show they're part of the community to grow
Businesses want to show they’re part of the community to grow
Slide 32: Connections, focusing on value, finds that leads to growth
Connections Focusing on value Finds that leads to growth Browse Other Neighborhoods Organization Groups Pages Ask a Help Map Neighbor Community Notification Reviewers Center Good Neighbor Neighbor focus Video Tools Pledge Business focus Enhanced Intro Posts Profile Country launch Kindness COVID-19 I
Slide 33: Evolving our product by learning how neighbors use Nextdoor
Evolving our product by learning how neighbors use Nextdoor
Slide 34: Maps
Maps
Slide 35: Groups
Groups
Slide 36: Finds
Finds
Slide 37: Driving value and growth
Driving value and growth
Slide 38: Connect with more than one neighborhood
Connect with more than one neighborhood
Slide 39: Connect with neighbors and organizations
Connect with neighbors Placeholder for Finds and organizations
Slide 40: Making Nextdoor content searchable
Making Nextdoor Nextdoor content becomes content searchable widely searchable
Slide 41: Our strategy
Our strategy Enable neighbors and organizations to build an active valued community
Slide 42: Head of Revenue Heidi Andersen
Head of Revenue Heidi Andersen
Slide 43: Digital advertising TAM represents $600B+ opportunity
Digital advertising TAM represents $600B+ opportunity Large $607B $607B Adjacent Global Global Markets Home services $355B $355B Global Global Local commerce Classifieds $262B $262B Real estate U.S. U.S. $143B $143B U.S. U.S. 83% Local events Growth 2020 TAM 2024 TAM Source: Global and US digital ad
Slide 44: Full funnel approach helping neighbors from awareness to action
Full funnel approach helping neighbors from awareness to action
Slide 45: Our GTM model matches segment complexity, opportunity, and margin
Our GTM model is designed to match segment complexity, opportunity, and margin expectations Enterprise SMBs National or global brands with Single buyer multiple buying arms Field sales Self-service
Slide 46: We serve customers across all verticals
We serve customers across all verticals Core Verticals Financial Home Services Retail Tech / Telco Services Emerging Verticals Healthcare CPG Travel Auto Government Entertainment
Slide 47: Unique targeting and personalization power brand and neighbor connections
Unique targeting and personalization power brand and neighbor connections Brands Hyperlocal targeting & creative at scale ~200 >400 Enterprises Mid-Market Customer data as of 6/30/2021.
Slide 48: Meeting the moment, iterating quickly with brands
Meeting the moment, iterating quickly with brands to meet demands of community at scale Albertsons Companies and Moderna are not affiliated.
Slide 49: Brands can reach an incremental audience
Brands can reach an incremental audience % of people who visit Nextdoor at least once per month but do not visit this social media platform at least once per month >$1T Aggregate market cap of these other platforms Source: Comscore Media Metrix® Multi-Platform, Cross Visiting, Total Audience, % Vert
Slide 50: Brands can reach a highly engaged audience
Brands can reach a highly engaged audience Weekly Active Users (WAU) engage nearly 4 times a week Source: App Annie. Nextdoor DAU/WAU based on internal data, 2020 daily average. DAU defined as a unique Registered Neighbor who starts a session or opens a content email on a given day. WAU defined as c
Slide 51: First party, brand, and third party data targeting
First party, brand, and third party data allow brands to target neighbors with relevant messaging in local context Geographic Demographic Psychographic Country DMA Gender New Mover Actions on site Finds State City Income New Neighbor Interests Post Interest Business Page Post Type Zip Urban Density
Slide 52: Our insights series offer unique perspectives
Our insights series offer unique Mentions of “movers” are up 84% since March Insights Series 5 neighbor perspectives Neighbors are getting back to spending on major purchases Insights Series 1 As the pandemic started we saw upticks in neighbor conversation topics - like new fitness trends Weights 37
Slide 53: Nextdoor New Movers kits
Nextdoor New Movers kits A recent Nextdoor poll reveals nearly 1/4 of neighbors have moved permanently in 2020 Nextdoor data shows that recent movers are more likely to convert with Home Services advertisers
Slide 54: H&R Block partnership
The first year of our partnership with H&R Block helped Nextdoor was the perfect way to Make Every Block Better launch the platform and it was incredible to see 10 projects come to life after we received nominations from every corner of the country. Angela Davied Vice President Corporate Communicati
Slide 55: Hershey promoted and sold more Halloween candy
Hershey promoted and sold more delicious Halloween candy ● 140% above the average “Add to Cart” benchmark via MikMak ● Mentions of the Hershey Company, Kit Kat, and Reese’s were up 69% YOY in October During this uncertain time, people are counting on neighbors for connection and information more tha
Slide 56: Walmart created a network to help communities in need
Walmart created a network to This is a wonderful idea, help communities in need I am elderly and do need help sometimes. Thank you! Nextdoor neighbor ● 10.5M+ unique visitors to the Help Map during Walmart’s sponsorship ● 25% lift in Walmart brand favorability for those who joined a Neighbor Helping
Slide 57: UpNest reached homeowners through Sponsored Posts
UpNest reached homeowners interested in selling through Sponsored Posts on Nextdoor ● 68% Below their CPC goals ● 48% Below their CPA goals Nextdoor is the perfect fit for our product. It boasts a high-quality, high-intent audience of homeowners looking to learn more about home selling.
Slide 58: Giving small businesses an online presence
Giving small businesses an online presence Small businesses / Neighbors for hire Discovery by relevant audiences >2M 54M local business business claimed pages recommendations Customer data as of 6/30/2021.
Slide 59: Business owner testimonial: Coco The Geek
If I had to choose only one [marketing channel], it would be Nextdoor. On others, you have to spend so much money to be seen and it’s not going to the right audience. On Nextdoor, it's people who are looking specifically for you.” Coco H. Business Owner of Coco The Geek Atlanta, Georgia, USA
Slide 60: Business owner testimonial: Raw Portraiture
Nextdoor has been huge for me. It’s been a great marketing tool. With what I do, there’s a lot of draw to it for people in my direct neighborhood and my direct community. A lot of people end up supporting me as a business owner on Nextdoor because I’m local, I’m women-owned, and I’m a woman of color
Slide 61: Business owner testimonial: Cheeky Spices
There are very few platforms that are truly designed to support small, local businesses — and Nextdoor is that. Nextdoor supports small, local businesses in their local communities, and helps them grow with the love and support of real people — real neighbors. It allows us to engage on a personal le
Slide 62: Business owner testimonial: Joe Hall Roofing
Word-of-mouth is the number one way we get our leads. Nextdoor is the perfect platform because that word-of-mouth is coming from neighbors.” Ariane C. Business Owner of Joe Hall Roofing Patego, Texas, USA
Slide 63: Neighborhood Ad Center
Neighborhood Ad Center Advertiser Value: ● Better performance ● Hands on keyboard access ● Ability to manage accounts programmatically ● Improved measurement & reporting ● Data ingestion & API integration ● New formats
Slide 64: In Progress: Product Listing Ads
In Progress Product Listing Ads Neighbor Value: ● Neighbors see ads that are dynamic and contextually relevant Advertiser Value: ● Native advertising feels like organic content ● Advertisers can dynamically cycle through tens of thousands of creatives in a single campaign
Slide 65: Client Advisory Board
Client Advisory Board Kevin Burke Kim F. Grant Melissa Grady Nick Jezarian Steve Katelman Former CMO, Square SVP, Marketing CMO, Cadillac Sr. Director, EVP of Global Strategic Partnerships Bank of America Media Strategy, Target Omnicom Media Group Allison Lowrie Jonathan Mildenhall Jeffrey Nicholson
Slide 66: We'll be right back
We’ll be right back
Slide 67: Q&A with Bill Gurley
Board of Directors, Benchmark Q&A with Bill Gurley
Slide 68: Co-founder & Chief Architect Prakash Janakiraman
Co-founder & Chief Architect Prakash Janakiraman
Slide 69: From a single neighborhood to over 275,000
From a single neighborhood to over 275,000
Slide 70: Community health
Communi health ‘No harmful activity © Werte commas weet
Slide 71: Neighborhood Vitality Advisory Board
Neighborhood Vitality Advisory Board Marc Dunkelman Jennifer L. Eberhardt Kelli Harding Derrick Johnson Research Fellow at Professor of Psychology at Assistant Clinical Professor of President and CEO, Brown University Stanford University Psychiatry at Columbia University NAACP Sylvia Rosabal Juliann
Slide 72: Our human review consists of three pillars
Our human review consists of three pillars Neighbors Neighborhood Leads & Neighborhood Community Reviewers Operations Team
Slide 73: Kind posts
Ha Kind posts kea difference vectors footer yawns
Slide 74: Other reminders
Other reminders fie, Facts matter
Slide 75: Head of Marketing Maryam Banikarim
Head of Marketing Maryam Banikarim
Slide 76: Organizations driven by purpose and values
Organizations driven by purpose and values Outperformed the general market 15:1 Outperformed comparison companies 6:1 Jim Collins and Jerry Porras, Built to Last: Successful Habits of Visionary Companies.
Slide 77: Chelsea, New York
Chelsea, New York
Slide 78: Nicole and Lois
Nicole and Lois
Slide 79: Living our purpose and driving results
Living our purpose and driving results ~ + 3x 141% 75% year over year increase in year over year increase in Nextdoor neighbors who (1) (1) (2) neighbors hosting an event 'block party' mentions experienced an act of kindness (1) Nextdoor Data, May to July 2021 vs. May to July 2020. (2) Nextdoor memb
Slide 80: Key insight: my neighborhood is a source of identity
Key Insight My neighborhood is a We crave a sense of source of identity and pride place and connection to our physical community, to our neighborhood, While I may not always to feel grounded love my neighbors, and secure I do love my neighborhood
Slide 81: Our culture is realigning around the neighborhood
Our culture is realigning around the neighborhood 73% 87% 57% travel 15 minutes or less for shop local to keep money say neighbors are most (2) (3) (1) everyday purchases close to home important community Sources: (1) Open Mind Strategy 2020; (2) The Impact of Retail Proximity on Consumer Purchases,
Slide 82: Come for the utility, stay for the community
Come for the stay for the community utility,
Slide 83: Abraham, Kingstowne Thompson Center, VA
Abraham Kingstowne Thompson Center, VA, USA
Slide 84: Neighbor usage examples
Meets neighbors Searches for Borrows neighbor’s Recommends a Hosts for coffee school tutor pasta machine local restaurant Dads group
Slide 85: Dawn, Grant Park, Georgia
Dawn Grant Park, Georgia, USA
Slide 86: Business owner usage examples
Hosts pop-up Updates her Responds to Promotes new Checks in with her events business page neighbors job listing business group
Slide 87: Cecile, San Mateo-Santa Cruz, California
Cecile San Mateo-Santa Cruz, California, USA
Slide 88: Public agency usage examples
Sets up Updates Alerts neighbors Monitors Responds to to local wildfire metrics questions wildfire webinar Evacuation Order
Slide 89: Our relationship with Public Agencies
Our relationship with Public Agencies 95% >30K (1) of top cities in U.S. civil servants in the (2) U.S. and beyond Sources: (1) Nextdoor internal data as of 9/1/2021; top 100 cities as defined by population; (2) Nextdoor internal data as of 6/30/2021.
Slide 90: Public Agency Advisory Board
Public Agency Advisory Board Charles Husted Warren Kagarise Wunmi Ladele Leah LaRue City of Sedona, Arizona King County, Washington U.K. National Health Service City of Atlanta, Georgia Greg Licamele Jennifer Masterson Janelle McGregor Katie Nelson Francis Zamora Fairfax County, Virginia Southern Ca
Slide 91: Everyone is a neighbor
Everyone is.a neighbor
Slide 92: Nextdoor = Neighborhood(s)
Nextdoor = Neighborhood(s)
Slide 93: A global, scalable platform
A global, scalable platform 312M Households U.S. 128M International 183M +109M Households Future opportunities in existing markets 203M (U.S. / International) Households U.S. 83M +158M Households International 119M Next opportunity for additional households at 65% penetration (U.S. / International)
Slide 94: Slide 94
Slide 95: Chief Financial Officer Mike Doyle
Chief Financial Officer Mike Doyle
Slide 96: Disclaimer
Disclaimer This Presentation (together with oral statements made in connection herewith, the “Presentation”) relates to the proposed Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various business combination (the “Business Combi
Slide 97: Disclaimer
Disclaimer This presentation includes certain non-GAAP financial measures (including on a forward-looking basis). These non-GAAP A list of the names of Nextdoor's directors and executive officers and a description of their interests in the proposed measures are an addition, and not a substitute for
Slide 98: Financial highlights
Financial Differentiated products with contextual relevance enable sustainable growth highlights High levels of neighbor retention enable consistent growth and ROI on acquisition spend Network effects increase WAU engagement as penetration increases ARPU expansion with multiple levers provides oppor
Slide 99: Growing base of users
Growing base of users... Annual Quarterly Ending Verified Users 33% 31% 2018–2020 CAGR Q2 2018–Q2 2021 CAGR 63M 10M 58M 54M 9M 53M 48M 7M 41M 49M 6M 47M 4M 42M 33M 28M +17% 36M 3M 2M +33% 30M +44% 26M 2018 2019 2020 Q2 2018 Q2 2019 Q2 2020 Q2 2021 U.S. International
Slide 100: And engaged users
...And engaged users... Annual Quarterly Avg. Weekly Active Users (WAU) 42% 31% 2018–2020 CAGR Q2 2018–Q2 2021 CAGR 29.2M 27.8M 26.7M 19.5M 19.2M +5% +45% 13.3M 13.1M +47% 2018 2019 2020 Q2 2018 Q2 2019 Q2 2020 Q2 2021 WAU defined as the count of unique neighbors who have started a session or opened
Slide 101: Leading to revenue growth
...Leading to revenue growth... Annual Quarterly 56% 58% 2018–2020 CAGR Q2 2018–Q2 2021 CAGR $123M $83M $46M $51M $28M +66% $20M +47% +36% +76% $12M 2018 2019 2020 Q2 2018 Q2 2019 Q2 2020 Q2 2021
Slide 102: And increasing levels of monetization
...And increasing levels of monetization Annual Quarterly Avg. Revenue Per Weekly Active User (ARPU) 10% 21% 2018–2020 CAGR Q2 2018–Q2 2021 CAGR $6.28 $4.62 $4.23 $4.23 $3.97 +58% $3.83 $3.52 +20% -6% 2018 2019 2020 Q2 2018 Q2 2019 Q2 2020 Q2 2021 ARPU shown above is calculated as total global reven
Slide 103: Sustained monetization trajectory
Sustained monetization trajectory 1 U.S. ARPU $7.86 $7.22 $7.05 34% $6.72 2021E ARPU Growth $5.71 $5.34 $4.50 $4.36 Q1 A Q2 A Q3 A Q4 A Q1 A Q2 A Q3 E Q4 E 2020 2021 1. ARPU shown is calculated by annualizing U.S. revenue divided by the weekly active users (WAU) in the period.
Slide 104: A verified daily audience with significant monetization potential
A verified daily audience with significant monetization potential 1 U.S. DAU and ARPU 90M 36M 12M $10 $18 $59 Source: Company filings and internal data for 2020. Comparison is illustrative as each company calculates daily active users differently. Snap includes U.S., Canada, Mexico, the Caribbean, a
Slide 105: Strong foundation for continued revenue growth
Strong foundation for continued revenue growth +40% $252M +$3M 49% +47% 2018A–2022E Growth $181M +$3M +49% $123M +62% $83M $51M 2018A 2019A 2020A 2021E 2022E Forward looking estimates are subject to change. Actual figures may be materially different.
Slide 106: An overview of our investments for growth
An overview of our investments for growth Product Development Sales and Marketing General and Administrative • Proprietary ad platform • Global neighbor and SMB acquisition • Teams and systems to enable • ML capabilities • International expansion and operations world-class finance, legal, people, •
Slide 107: Connections, focusing on value, finds that leads to growth
Connections Focusing on value Finds that leads to growth Browse Other Neighborhoods Organization Groups Pages Ask a Help Map Neighbor Community Notification Center Reviewers Good Neighbor Neighbor focus Video Tools Pledge Business focus Enhanced Intro Posts Profile Country launch Kindness COVID-19 I
Slide 108: Efficiently scaling our R&D investment
Efficiently scaling our R&D investment 1 Revenue per R&D Person 22% 2021E increase in R&D efficiency despite substantial ongoing investment 1. Reflects total revenue divided the number of full time Research & Development (R&D) employees.
Slide 109: Cost effective neighbor acquisition globally
Cost effective neighbor acquisition globally Contact sync ~ Sharing 5 quarters Payback on global 1 paid acquisition Word of mouth Email / Text Message Invites Emerging drivers of organic growth Mailed invitations 68% of US acquisition is organic ~$5 Paid CPA 1. Based on Q2 2021 annualized data.
Slide 110: A model that scales globally
A model that scales globally… 85% UK Neighbor Growth Q2 2018–Q2 2021 3-Year CAGR 200%+ International Revenue Growth YoY (Q2’21 v. Q2’20) Historically driven primarily by expansion in the UK
Slide 111: With a consistent trajectory in newer markets
...with a consistent trajectory in newer markets 108% Canada Neighbor Growth Q2 2020–Q2 2021 1-Year Reflects a repeatable playbook, with ample runway to drive daily and weekly usage
Slide 112: Sustainable growth; additional capital a potential accelerant
Sustainable growth; additional capital a potential accelerant Annual Summary 2019A 2020A 2021E 2022E Raised Guidance (+$3M) Total Revenue $83M $123M $181M $252M % Growth 62% 49% 47% 40% Current model does not assume additional capital Total ARPU $4.23 $4.62 $6.05 $6.47 Additional funding can signifi
Slide 113: Viral growth loops reinforce the strength of our model
Viral growth loops reinforce the strength of our model Increased Scale Improved unit economics, Increased reach reinvestment for growth & & engagement product expansion Neighbors Businesses Public Agencies Improved advertiser Enhanced advertiser retention & platform performance & additional activity
Slide 114: Why Nextdoor wins
Why Nextdoor wins: We are the neighborhood network, strong network effects, and clear monetization upside Nextdoor = Neighborhoods Nextdoor is where you connect to the neighborhoods that matter to you. Purpose-driven brand Purpose-driven brand — promotes growth, differentiates the business, and alig
Slide 115: KIND Listed NYSE
KIND LISTED NYSE ee
Slide 116: We'll be right back
We’ll be right back
Slide 117: Q&A
Q&A
Slide 118: It starts with a wave
It starts with a wave investors.nextdoor.com
Slide 119: Appendix
Appendix
Slide 120: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation 2019A 2020A Net Loss ($73.3M) ($75.2M) Depreciation and amortization $2.1M $3.1M Stock-based compensation 14.1M 22.6M Interest (2.5M) (0.7M) Provision for income taxes 0.2M 0.1M Acquisition-related costs 0.6M — Adjusted EBITDA ($58.8M) ($50.2M)
Slide 121: Non-GAAP Operating Expenses Reconciliation
Non-GAAP Operating Expenses Reconciliation 2019A 2020A Operating Expenses Cost of revenue $13.7M $21.6M Sales and marketing 81.0M 80.3M Research and development 42.6M 69.2M General and administrative 20.7M 28.8M Total GAAP Operating Expenses $158.0M $199.9M (-) Depreciation and amortization ($2.1M)
Slide 122: Definitions
Definitions Metrics Definition U.S. Household A single (U.S.) residence containing at least one Current Verified Neighbor The number of active Launched (10+ member) neighborhoods. A “neighborhood” is a specific geographic area with a defined Neighborhoods boundary. Neighborhoods do not overlap. The
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