Slide 1: Feeling better starts with a single message
Feeling better starts with a single message 2023 Fourth Quarter Earnings Presentation FEBRUARY 22,2024
Slide 2: Disclaimer
Disclaimer This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking, includ
Slide 3: 2023 Performance Highlights
2023 Performance Highlights Revenue1 and % Composition Payor Sessions2 Adjusted EBITDA3 Loss USD, millions $150 Thousands USD, millions $150 1,000 $36 24% ($60) $120 $34 $100 22% $55 46% ($40) 500 851 ($58.7) $28 $50 24% $81 $(20) 54% 426 $36 30% ($13.5) $0 0 $0 2022 2023 2022 2023 2022 2023 Payor D
Slide 4: 2023 Execution of Strategic Priorities
2023 Execution of Strategic Priorities 1. Payor Revenue Growth 2. Direct-to-Enterprise Growth ● Grew covered lives from 92M to 131M ● Rebuilt highly experienced sales team ● Expanded same-basis capture rate almost 50% ● Launched two major teens contracts ● Grew value and quality of pipeline 3. Provi
Slide 5: Revenue and Gross Profit
Revenue and Gross Profit USD, millions Revenue Gross Profit and % Margin $50 USD, millions $21.0 $45 $42.4 $18.8 $20 65% $38.6 $8.2 $17.8 $40 $16.7 $35.6 60% $35 $33.3 $8.5 $15 $9.1 $8.9 $30 $9.8 55% $8.0 53.5% $25 50.2% $25.4 $10 50.0% 49.4% $8.0 48.8% 50% $20 $8.7 $22.1 49.8% $15 $18.5 45% $14.8 $18
Slide 6: Operating Expense and Adjusted EBITDA
Operating Expense and Adjusted EBITDA1 70% Operating Expenses Adjusted EBITDA Loss1 USD, millions 62% $30 57% USD, millions 51% $25.8 $25 $24.2 $24.0 $(8) $2.3 $23.6 $2.1 $2.0 $2.0 $20 $(6.4) $(6) $15 $23.5 $(4.0) $22.1 $22.1 $(4) $21.6 $10 $(2.8) $(2) $5 $(0.3) $0 $0 Q1‘23 Q2‘23 Q3‘23 Q4‘23 Q1‘23 Q
Slide 7: 2024 Guidance and 3-Year Outlook
2024 Guidance and 3-Year Outlook1 USD 2024 Guidance Preliminary 3-Year Outlook ~ $185M to $195M Revenue Revenue +20 to +25% +23% to +30% Y/Y CAGR Adjusted Adjusted $4M to $8M EBITDA2 EBITDA2 Margin +12% to +15% +$18M to 22M Y/Y (1) Guidance and Outlook are based on current market conditions and expe
Slide 8: Strong Long-Term Growth Plan
Strong Long-Term Growth Plan ➡ ➡ ➡ Continued momentum Grow Covered Lives Grow Capture Rate with teens ➡ ➡ Launch needle-moving strategic partnerships Pioneer investments in clinical A.I. tools ➡ ➡ Grow Revenue Grow Profitability 8
Slide 9: Appendix
Appendix 9
Slide 10: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to our financial results determined in accordance with GAAP, we believe adjusted EBITDA, a non-GAAP measure, is useful in evaluating our operating performance, and our management uses it as a key performance measure to assess our operating performance. Because
Slide 11: Reconciliation of Net Loss to Adjusted EBITDA
Reconciliation of Net Loss to Adjusted EBITDA Adjusted EBITDA We calculate adjusted EBITDA as net loss adjusted to exclude (i) depreciation and amortization, (ii) interest and other expenses (income), net, (iii) tax benefit and expense, (iv) stock-based compensation expense, (v) impairment of goodwil