Slide 1: Third Quarter 2023 Earnings Call
Fourth Quarter Earnings - 2022 Third Quarter 2023 Earnings Call Jon Carpenter Mary Margaret Curry CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER NOVEMBER 6, 2023 Where traditional measurement ends and addressable measurement begins
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of federal and state securities laws, including, without limitation, our expectations, forecasts, plans and opinions regarding our strategic plans; market opportunities; comm
Slide 3: Third Quarter 2023 Earnings
Third Quarter 2023 Earnings
Slide 4: Third Quarter Performance
THIRD QUARTER PERFORMANCE REVENUE ADJ. EBITDA ‒ Custom down VPY + Cost discipline + Solid double-digit $91M growth in Local TV $13.4M + Streamlining tech and product Down $1.8M VPY + Activation & CCR Up 14% VPY + Margin rate up 20%+ VPY acceleration Focusing on Profitable, Sustainable Syndicated Gro
Slide 5: 2023 Focus Areas
2023 FOCUS AREAS IMPROVING ADJ LOCAL TV A C C L E R AT I N G C R O S S EBITDA MARGIN F O U N D AT I O N SCREEN MEASUREMENT 15% 8 Consecutive Quarters Of Delivering Scalable Growth With Activation and CCR Double-Digit Growth Interoperable across platforms Q3 2023 ~15% Double-Digit + 30% 2024 GOAL 202
Slide 6: Activation & Cross-Platform Product Adoption
ACTIVATION & CROSS-PLATFORM PRODUCT ADOPTION 2023 Growth Rate Activation & CCR (Revenue VPY thru Q3) +26% CCR Adoption In Digital Impressions by Year 12-15x 10B 2022 2023 E Accelerating Growth & Adoption Heading Into 2024
Slide 7: Driving the Right Growth
DRIVING THE RIGHT GROWTH Digital & Cross-Platform Products* All Other Margin Opportunity Share of YTD Revenue 40% 60% 2023 Full Spectrum Solutions Driving Target Share of Revenue Higher Margin 2025 Opportunity 7 *Syndicated digital, activation, and Cross Platform Campaign Ratings
Slide 8: Delivering Long-Term Value Creation for Our Stakeholders
DELIVERING LONG-TERM VALUE CREATION FOR OUR STAKEHOLDERS True Big-Data Scale – Closing the gaps that fuel billions of dollars in waste Stakeholder Interoperability – Actionable data living where Value transactions happen Creation Speed – Flexible, portable, actionable data to deliver incrementality
Slide 9: Third Quarter 2023 Financials
Third Quarter 2023 Financials
Slide 10: Third Quarter Revenue
THIRD QUARTER REVENUE $1.8M year over year decrease ✓ Cross Platform Solutions roughly flat to the prior year quarter: • Continued double digit growth in $97.7 $92.8 Local TV, offset by National TV $91.0 $91.6 • Movies revenue flat year over year ✓ Digital Ad Solutions down 4% year over year: • Lowe
Slide 11: Third Quarter Adjusted EBITDA
THIRD QUARTER ADJUSTED EBITDA ADJUSTED EBITDA $1.7M ✓ Excluding FX, adjusted EBITDA up year over year increase 38% over prior year ✓ Disciplined cost execution - core operating $13.4 expenses* down 4.5% year over year $11.7 ✓ Continued execution of our restructuring plan including footprint reductio
Slide 12: Full Year 2023 Guidance
FULL YEAR 2023 GUIDANCE TOTAL TOTAL ADJUSTED REVENUE EBITDA MARGIN Double Digit Flat to down 1% Margin Rate $376M 9.8% 2 0 2 2 2 0 2 3 2 0 2 2 2 0 2 3 12
Slide 13: Where traditional measurement ends and addressable measurement begins
Fourth Quarter Earnings - 2022 Where traditional measurement ends and addressable measurement begins
Slide 14: Use of Non-GAAP Financial Measures
USE OF NON-GAAP FINANCIAL MEASURES To provide investors with additional information regarding our financial results, we are disclosing adjusted EBITDA, adjusted EBITDA margin and FX adjusted EBITDA, which are non-GAAP financial measures used by our management to understand and evaluate our core oper
Slide 15: Third Quarter Adjusted EBITDA Reconciliation
THIRD QUARTER ADJUSTED EBITDA RECONCILIATION 15