Slide 1: Q2 2024 Financial Results
Q2 2024 FINANCIAL RESULTS May 7, 2024 (all amounts are expressed in U.S. dollars, excluding per share amounts and unless otherwise stated)
Slide 2: Cautionary Note Regarding Forward-Looking Information
Cautionary Note Regarding Forward-Looking Information This presentation contains “forward-looking information” within the meaning of applicable Canadian securities laws. Words such as “aim”, “could”, “forecast”, “target”, “may”, “might”, “will”, “would”, “expect”, “anticipate”, “estimate”, “intend”,
Slide 3: Q2 2024 Highlights
Q2 2024 Highlights U.S. Appraisal • Outperformed U.S. mortgage market: revenues +16% YoY vs. addressable mortgage origination $42.2M market volumes +9% • Record-high Net Revenue1 margin of 28.3%, Net Revenue1 +19% YoY +19% QoQ • Strong operating leverage: Adjusted EBITDA1 margin +730 bps YoY, Adjust
Slide 4: Q2 2024 and Fiscal 2024 Financial Highlights
Q2 2024 and Fiscal 2024 Financial Highlights QoQ YoY YoY millions of U.S. dollars Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 YTD 2024 YTD 2023 Change Change Change Revenues U.S. Appraisal $32.6 $26.8 $31.2 $33.5 $28.0 22% 16% $59.3 $56.3 6% U.S. Title 2.0 2.0 2.3 2.6 2.2 0% -9% 4.1 4.6 -11% Canada 7.6
Slide 5: Q2 2024 and Fiscal 2024 Non-GAAP Measures
Q2 2024 and Fiscal 2024 Non-GAAP Measures QoQ YoY YoY millions of U.S. dollars Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 YTD 2024 YTD 2023 Change Change Change 1 Net Revenue U.S. Appraisal $9.2 $7.5 $8.6 $9.2 $7.7 23% 19% $16.6 $15.4 9% 1 Net Revenue Margin 28.3% 27.9% 27.5% 27.5% 27.6% 28.1% 27.3% U.
Slide 6: Appendix A – Non-GAAP Measures
Appendix A – Non-GAAP Measures Net Revenue represents the difference between revenues and transaction costs. Net Revenue margin is calculated as Net Revenue divided by Revenues. The reconciling items between net income or loss and Net Revenue for the periods present below were as follows: Quarter en
Slide 7: Appendix A – Non-GAAP Measures
Appendix A – Non-GAAP Measures Adjusted EBITDA represents net income or loss before stock-based compensation expense, amortization, restructuring expenses, interest expense, interest income, net foreign exchange gain or loss, gain or loss on fair value of derivatives and income tax expense or recove