Comscore, Inc. · NASDAQ:SCOR
Comscore — Investor Day (November 2018)
12 slides from Comscore's investor day presentation, Nov 13, 2018
Slide 1: Comscore Investor Day 2018: Financial Overview
Comscore Investor Day 2018: Financial Overview November 13, 2018
Slide 2: Cautionary Note
Cautionary Note • This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements are those which are not historical facts and include, without limitation, comments about our expectations, forecasts, plans
Slide 3: Financial Highlights
Financial Highlights Significant Growth Opportunities • New revenue unlocked from Cross-Platform and Advanced TV • National TV syndicated revenue scales with currency gains • Momentum and measurable market expansion in Local TV Highly Recurring Revenue Model • Significant annual revenue is typically
Slide 4: Financial Forecast
Financial Forecast Metric 2019 2019-2021 Revenue • Mid single digit growth • CAGR 8-12% Gross Margin • Slightly improved over 2018 • Expand by 200 to 400 basis points • Revenue growth exceeds increased cost Non-GAAP Operating Expense* • Flat to 2018 levels • Mid single digit growth Adjusted EBITDA M
Slide 5: 2019 Revenue Near-Term Growth Expectations
2019 Revenue Near-Term Growth Expectations • As Comscore becomes the currency for TV products with a unique delivery of targeted audience, adoption of Comscore TV products (national and local) is expected to increase • Revenue contribution by existing products and new products to blur as customers a
Slide 6: 2019 Operating Expenses
2019 Operating Expenses Disciplined Spending • Full year of headcount reductions in 2018 to be realized in 2019 • Lease rationalization program expected to reduce overall facilities expense; full year of impact to be realized in 2019 at approximately 10% lower than 2018 • Continued discipline over s
Slide 7: Capital Considerations
Capital Considerations Cash Considerations • Operating cash flow neutral moving to positive in second half of 2019, could be impacted by cash flow considerations below • Assumptions: • Mid-single digit growth in revenue • Operating costs relatively flat versus 2018 • Significant improvement in techn
Slide 8: Senior Secured Notes – Key Interest Terms
Senior Secured Notes – Key Interest Terms Interest Payments • Interest is payable quarterly and may be paid in cash or common stock in-kind (PIK shares), subject to certain conditions • Interest has been paid in cash to date, and we expect to pay fourth quarter payment in cash in January • Interest
Slide 9: Financial Overview – Key Takeaways
Financial Overview – Key Takeaways Strong corporate and financial strategy in place Expect to be operating cash flow neutral in 2019, moving toward attractive cash generation thereafter Three-year financial outlook demonstrates our belief in our products, our business model and our excitement about
Slide 10: Appendix: Non-GAAP Financial Measures
Appendix: Non‐GAAP Financial Measures
Slide 11: Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA and Adjusted EBITDA Margin • EBITDA is defined as GAAP net income (loss) plus or minus interest, taxes, depreciation and amortization of intangible assets. We define adjusted EBITDA as EBITDA plus or minus stock-based compensation expense as well as other items and amounts that we vi
Slide 12: Non-GAAP Operating Expense
Non‐GAAP Operating Expense • We define non-GAAP operating expense as cost of revenues, selling and marketing, research and development, and general and administrative expense (each as reported on a GAAP basis) plus or minus stock-based compensation expense. • We do not provide GAAP cost of revenues,