Ziff Davis, Inc. · NASDAQ:ZD

Ziff Davis — Q4 2021 Earnings Presentation

21 slides from Ziff Davis's earnings presentation, Feb 15, 2022

  1. Slide 1: Full Year and Fourth Quarter 2021 Preliminary Unaudited Results

    FULL YEAR AND FOURTH QUARTER 2021 PRELIMINARY UNAUDITED RESULTS FEBRUARY 14, 2022 ©2022 Ziff Davis. All rights reserved. www.ziffdavis.com

  2. Slide 2: Safe Harbor for Forward-looking Statements

    Safe Harbor for Forward-looking Statements Certain statements in this presentation are “forward-looking statements” within the meaning of the Private Industry, Market and Other Data Securities Litigation Reform Act of 1995, particularly those regarding our 2022 Financial Guidance. Such Certain infor

  3. Slide 3: Risk Factors

    Risk Factors The following factors, among others, could cause our business, prospects, financial condition, operating results and cash flows to be materially adversely affected: • Inability to sustain growth or profitability, and any related impact of U.S. or • Inability to continue to expand our bu

  4. Slide 4: Q4 2021 Consolidated Financial Snapshot

    Q4 2021 Consolidated Financial Snapshot (1)(2) Note: Pro Forma Results from Continuing Operations excludes divested Voice UK, ANZ Voice, and B2B Backup assets 1.Figures are adjusted non-GAAP; see slide 21 for a reconciliation of the pro-forma adjustments for excluded assets consisting of certain Voi

  5. Slide 5: FY 2021 Consolidated Financial Snapshot

    FY 2021 Consolidated Financial Snapshot (1)(2) Note: Pro Forma Results from Continuing Operations excludes divested Voice UK, ANZ Voice, and B2B Backup assets 1. Figures are adjusted non-GAAP; see slide 21 for a reconciliation of the pro-forma adjustments for excluded assets consisting of certain Vo

  6. Slide 6: Advertising Performance

    Advertising Performance 2021 2022 Quarterly Advertising Metrics Q1 Q2 Q3 Q4 Q1 (1) Net Revenue Retention 103.7% 111.2% 114.1% 111.9% 106.6% (2) Advertisers 1,705 1,913 1,908 2,198 1,950 (3) Quarterly Revenue per Advertiser $103,981 $103,704 $104,189 $119,932 $87,214 1. Figures are adjusted non-GAAP

  7. Slide 7: Subscriptions Performance

    Subscriptions Performance 2021 2022 Quarterly Subscription Metrics Q1 Q2 Q3 Q4 Q1 (1) Subscribers (in '000s) 2,332 2,340 2,290 2,206 2,131 (2) Average Monthly Revenue per Subscriber $16.85 $17.72 $19.69 $20.30 $21.28 (3) Churn Rate 2.75% 2.51% 2.99% 2.97% 3.22% 1. Figures are adjusted non-GAAP 2. Qu

  8. Slide 8: Organic Growth

    Organic Growth (1)(2) First Quarter Second Quarter Third Quarter Fourth Quarter Full Year ($ in MM) 2020 2021 Growth 2020 2021 Growth 2020 2021 Growth 2020 2021 Growth 2020 2021 Growth Organic Revenue $232 $253 9% $232 $279 20% $256 $288 12% $366 $374 2% $1,087 $1,194 10% Acquired Revenue -- $46 --

  9. Slide 9: Ziff Davis Capital Structure

    Ziff Davis Capital Structure ($ millions) December 31, 2021 Cash and Cash Equivalents $695 (1) Short-term Investments 229 Long-term Investments 123 Total Cash and Investments $1,046 4.625% High-Yield Notes $641 (2) 1.75% Convertible Notes 550 Total Gross Debt $1,191 Multiple of 2021 PF Adj. EBITDA G

  10. Slide 10: 2022 Financial Guidance

    2022 FINANCIAL GUIDANCE

  11. Slide 11: 2022 Outlook (Forward-Looking Statements)

    2022 Outlook (Forward-Looking Statements) (1) 1. Figures are adjusted non-GAAP 2. Does not include any assumed dilution from the outstanding 1.75% convertible notes 11

  12. Slide 12: 2022 Guidance (Forward-Looking Statements)

    2022 Guidance (Forward-Looking Statements) Our annual guidance of Revenues, Adjusted EBITDA and Adjusted non-GAAP EPS (1) Ziff Davis FY 2022 Guidance Range Midpoint YoY % Low Midpoint High $ in MM, except for per share amounts Increase vs 2021A Revenue $1,497 $1,516 $1,535 10% Adjusted non-GAAP EBIT

  13. Slide 13: Supplemental Information

    SUPPLEMENTAL INFORMATION

  14. Slide 14: Q4 and FY 2021 Reconciliation of GAAP to Adjusted non-GAAP Earnings & EPS

    Q4 and FY 2021 Reconciliation of GAAP to Adjusted non-GAAP Earnings & EPS Figures in Thousands Three Months Ended December 31, Twelve Months Ended December 31 2020 2021 2020 2021 Cost of revenues $ 46,159 $ 45,718 $ 178,403 $ 188,053 Plus: Share based compensation (1) (77) (86) (332) (306) Acquisiti

  15. Slide 15: GAAP Reconciliation – Free Cash Flow

    GAAP Reconciliation – Free Cash Flow (1)(2) $MM Ziff Davis Three Months Ended December 31st, Twelve Months Ended December 31st, 2020 2021 2020 2021 Net cash provided by operating activities from $ 124,070 $ 85,319 $ 480,079 $ 515,571 continuing and discontinued operations Less: Purchase of property

  16. Slide 16: GAAP Reconciliation – Adjusted EBITDA

    GAAP Reconciliation – Adjusted EBITDA (1)(2) 1. Adjusted EBITDA is defined as net income plus interest and other expense, net; income tax expense; depreciation and amortization and the items used to reconcile GAAP to Adjusted Non-GAAP EPS. Adjusted EBITDA amounts are not meant as a substitute for GA

  17. Slide 17: Q4 2021 Reconciliation of GAAP to Adjusted EBITDA

    Q4 2021 Reconciliation of GAAP to Adjusted EBITDA (1) NOTE 1: Table above excludes certain intercompany allocations 1. Figures are adjusted non-GAAP 17

  18. Slide 18: Q4 2020 Reconciliation of GAAP to Adjusted EBITDA

    Q4 2020 Reconciliation of GAAP to Adjusted EBITDA (1) NOTE 1: Table above excludes certain intercompany allocations 1. Figures are adjusted non-GAAP; and includes the divested assets through the date of their respective divestiture 18

  19. Slide 19: FY 2021 Reconciliation of GAAP to Adjusted EBITDA

    FY 2021 Reconciliation of GAAP to Adjusted EBITDA (1) NOTE 1: Table above excludes certain intercompany allocations 1. Figures are adjusted non-GAAP; and includes the divested assets through the date of their respective divestiture 19

  20. Slide 20: FY 2020 Reconciliation of GAAP to Adjusted EBITDA

    FY 2020 Reconciliation of GAAP to Adjusted EBITDA (1) NOTE 1: Table above excludes certain intercompany allocations 1. Figures are adjusted non-GAAP; and includes the divested assets through the date of their respective divestiture 20

  21. Slide 21: Reconciliation of Non-GAAP to Pro-Forma

    Reconciliation of Non-GAAP to Pro-Forma Q4 2020 Q4 2021 FY 2020 FY 2021 Revenue Stated Revenues $384.1 $408.6 $1,158.8 $1,416.7 (1) Adjustments ($14.0) $0.0 ($68.1) ($33.5) Total Adjusted Pro-Forma Revenue $370.1 $408.6 $1,090.7 $1,383.2 EBITDA Stated EBITDA $157.1 $161.6 $404.5 $498.7 (1) Adjustmen

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