Envela Corporation · AMEX:ELA
Envela — Q2 2024 Earnings Presentation
21 slides from Envela's earnings presentation, November 2024
Slide 1: Q2 2024 Financial Results
1 Q2 2024 Financial Results NYSE: ELA
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
2 FORWARD-LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES This presentation includes statements that may constitute “forward-looking” statements, including statements regarding acquisitions, financial outlook, and the potential future success of business lines and strategies. These statements are
Slide 3: Envela is a leading provider of recommerce
3 Envela’s diversified portfolio serves multiple industries through its Commercial and Consumer business segments: Envela is a Commercial leading provider Re-commercializes consumer electronics and IT equipment and of recommerce provides end-of-life recycling services including extracting, collectin
Slide 4: Consolidated Business
=NVELA CORPORATION Consolidated Business
Slide 5: Revenue and Gross Margin
5 Revenue and Gross Margin TTM 6/30/2024: Revenue of $159.5 million Gross Margin of $41.2 million Q2 2024: Revenue of $45.3 million Gross Margin of $11.4 million Source: Company filings and data Refer to the Glossary at the end of this presentation for definitions of key terms
Slide 6: Operating Income and Adjusted EBITDA
6 Operating Income and Adjusted EBITDA TTM 6/30/2024: Operating Income of $7.8 million Adjusted EBITDA of $9.2 million Q2 2024: Operating Income of $1.9 million Adjusted EBITDA of $2.3 million Source: Company filings and data Refer to the Glossary at the end of this presentation for definitions of k
Slide 7: Strong Balance Sheet
7 Strong Balance Sheet Q2 2024: Total Shareholders’ Equity: $50.2 Million Cash position: $17.3 Million Total Debt: $14.3 Million Source: Company filings and data Refer to the Glossary at the end of this presentation for definitions of key terms
Slide 8: Liquidity Position
8 Liquidity Position TTM 6/30/2024: Operating Cash Flow of $6.1 million Q2 2024: Operating Cash Flow of ($0.8) million Net Cash of $3.0 million Undrawn line of credit: $3.5 million Source: Company filings and data Refer to the Glossary at the end of this presentation for definitions of key terms
Slide 9: Share Repurchases
9 Share Repurchases Q2 2024 Activity: Repurchased shares as of 3/31/2024: 617,313 Shares repurchased during Q2 2024: 152,089 Shares available for repurchase at 06/30/2024(1) : 230,598 Source: Company filings and data Refer to the Glossary at the end of this presentation for definitions of key terms
Slide 10: Consolidated Financial Results
10 Consolidated 2Q 2024 Unaudited 2Q 2023 Unaudited B2C Consolidated Financial Results: • Revenue decreased 11.3% to $45.3 million in the second Sales $ 45,297 $ 51,096 quarter of 2024 compared to $51.1 million in the prior- Cost of goods sold 33,908 40,334 year quarter Gross margin 11,389 10,762 Ex
Slide 11: Consumer Business
=NVELA CORPORATION Consumer Business
Slide 12: Adjusted EBITDA
12 Adjusted EBITDA TTM 6/30/2024: Adjusted EBITDA of $2.1 million Q2 2024: Adjusted EBITDA of $12 thousand Source: Company filings and data Refer to the Glossary at the end of this presentation for definitions of key terms
Slide 13: Consumer Division Financial Results
13 Consumer 2Q 2024 2Q 2023 B2C Consumer Division Financial Results: Unaudited Unaudited • Revenue decreased 19.3% to $32.0 million in the second Sales $ 31,990 $ 39,641 quarter of 2024 compared to $39.6 million in the prior- Cost of goods sold 27,969 35,547 year quarter Gross margin 4,021 4,095 Exp
Slide 14: Commercial Business
=NVELA Commercial Business
Slide 15: Adjusted EBITDA
15 Adjusted EBITDA TTM 6/30/2024: Adjusted EBITDA of $7.1 million Q2 2024: Adjusted EBITDA of $2.3 million Source: Company filings and data Refer to the Glossary at the end of this presentation for definitions of key terms
Slide 16: Commercial Division Financial Results
16 Commercial Commercial 2Q 2024 Unaudited 2Q 2023 Unaudited B2C Commercial Division Financial Results: • Revenue increased 16.2% to $13.3 million in the second Sales $ 13,307 $ 11,454 quarter of 2024 compared to $11.5 million in the prior- Cost of goods sold 5,939 4,787 year quarter Gross margin 7,
Slide 17: Appendix
=NVELA CORPORATION Appendix
Slide 18: Historical Financial Results
18 Historical Financial Results Income Statement ($ in thousands) ($ in thousands, except per unit amounts) 2019 2020 2021 2022 1Q 2023 2Q 2023 3Q 2023 4Q 2023 2023 1Q 2024 2Q 2024 2024 YTD Audited Audited Audited Audited Unaudited Unaudited Unaudited Unaudited Audited Unaudited Unaudited Sales $ 82
Slide 19: Glossary
=NVELA CORPORATION Glossary
Slide 20: Glossary
20 Glossary • Adjusted EBITDA. We use Adjusted EBITDA as a non-US GAAP measure to track our performance and assess our ability to service our borrowings. This is a non-US GAAP financial measure supplement and should be considered in addition to and not in lieu of, the results of operations, prepared
Slide 21: =NVELA
=NVELA CORPORATION