Slide 1: Fourth Quarter and Full Year 2021 Earnings Presentation
Fourth Quarter and Full Year 2021 Earnings Presentation February 16, 2022
Slide 2: Forward-looking statements
This presentation contains forward - looking statements within the meaning of Section 27A of the Securities Act of 1933, as amende d and Section 21E of the Securities Exchange Act of 1934, as amended , including without limitation, statements regarding the outlook of Blucora, Inc. (the “Company”) an
Slide 3: Corporate Highlights: Full Year 2021 Key Observations
Blucora Corporate Highlights 3 Full Year 2021 - Key Observations/Highlights 74% 26% $395 $211 $22 $30 $210 $17 Advisory Commission & Trails Fees Cash Sweep & Other Consumer Pro Total Revenue Breakdown – FY 12/31/21 ($ in millions) • Total revenue of $885.2 million, up 17% year over year • GAAP Net I
Slide 4: Tax Software Season Update
Tax Software Season Update 4 Reaffirming our 2022 guidance of revenue growth of between approximately 14% and 18% from the mid - point of our full - year 2021 guidance range, $226 million, as presented on November 4, 2021 and segment operating income of between $98M and $106M • 2021 Highlights: • Su
Slide 5: Wealth Management Update
Wealth Management Update RETENTION OF HIGH - PRODUCING FINANCIAL PROFESSIONALS ATTRITION OF FP’s BY REVENUE PRODUCTION – Q4 2021 QUARTERLY PRODUCTION RETENTION RATE* HIGH PORTION OF REVENUES ARE RETAINED Key Observations /Highlights • 1 Non - producers defined as FPs with less than $50K in rolling g
Slide 6: Driving Additional Assets by Shifting BD Focus toward Established FPs
Driving Additional Assets through Successfully Shifting our BD Focus toward Established FPs * Inflows of client assets from independent FPs that have affiliated with Avantax. A purposeful shift toward fewer but more productive Financial Professionals ($’s in millions) $407 $363 $929 $0 $100 $200 $30
Slide 7: Wealth Management Update (continued)
Organic asset inflows continued to shift toward more durable advisory platforms LONG - TERM ASSET GROWTH CONTINUED STRONG FINANCIAL RESULTS SHIFT TO MORE DURABLE ADVISORY PLATFORMS Strong growth in total client assets 4Q 2021 segment net revenue remains at a high despite a challenging interest rate
Slide 8: Full Year 2021 Financial Results vs. Prior Guidance
Full Year 2021 Financial Results vs. Prior Guidance * See reconciliations of all non - GAAP to GAAP measures presented in this presentation in the tables in the appendix. 8 $’s in millions, except per share amounts Full Year 2021 Financial Results Full Year 2021 Prior Guidance Total Revenue $885.2 $
Slide 9: First Quarter 2022 Guidance
$’s in millions, except per share amounts First Quarter 2022 Guidance Total Revenue $314.5 – $346.5 Wealth Management Revenue $164.5 – $171.5 Tax Software Revenue $150.0 – $175.0 Adjusted EBITDA * $69.0 – $92.0 Wealth Management Segment Operating Income $19.5 – $22.0 Tax Software Segment Operating I
Slide 10: Appendix
Appendix BLUCORA
Slide 11: Reconciliation of Adjusted EBITDA, Net Income, and Net Income Per Share
Blucora Reconciliation of Adjusted EBITDA, Non - GAAP Net Income, and Non - GAAP Net Income Per Share (1)
Slide 12: Reconciliation of Adjusted EBITDA, Net Income, and Net Income Per Share
Blucora Reconciliation of Adjusted EBITDA, Non - GAAP Net Income, and Non - GAAP Net Income Per Share (1)
Slide 13: Adjusted EBITDA Reconciliation for Forward-Looking Guidance
Adjusted EBITDA Reconciliation (1) for Forward - Looking Guidance
Slide 14: Net Income Reconciliation for Forward-Looking Guidance
Non - GAAP Net Income and Non - GAAP Net Income Reconciliation (1) for Forward - Looking Guidance
Slide 15: Adjusted EBITDA Reconciliation for Prior Guidance
Blucora Reconciliation of Adjusted EBITDA Reconciliation (1) for Prior Guidance
Slide 16: Net Income and Net Income Per Share Reconciliation for Prior Guidance
Blucora Non - GAAP Net Income and Non - GAAP Net Income Per Share Reconciliation (1) for Prior Guidance
Slide 17: Reconciliation of Wealth Management Quarterly Production Retention Rate
Blucora Reconciliation of Wealth Management Quarterly Production Retention Rate (4)
Slide 18: Reconciliation of Wealth Management Net Revenue and Segment Income
Blucora Reconciliation of Wealth Management Net Revenue, Net Revenue Excl. Cash Sweep Revenue and Segment Income, Excl. Cash Sweep Revenue (6) (7) (8)
Slide 19: Reconciliation of TTM Adjusted EBITDA, Net Debt, and Net Leverage Ratio
Blucora Reconciliation of Trailing Twelve Month Adjusted EBITDA, Net Debt, and Net Leverage Ratio (1) (10) (11)
Slide 20: Notes to Reconciliations of Financial Measures to Comparable GAAP Measures
Notes to Reconciliations of Non - GAAP Financial Measures to the Nearest Comparable GAAP Measures
Slide 21: Notes to Reconciliations of Financial Measures (continued)
Notes to Reconciliations of Non - GAAP Financial Measures to the Nearest Comparable GAAP Measures (continued)