Pensionbee Group Plc · LSE:PBEE
Pensionbee — Q3 2022 Earnings Presentation
22 slides from Pensionbee's earnings presentation, Oct 20, 2022
Slide 1: Results Presentation for the nine months to 30 September 2022
Results Presentation for the nine months to 30 September 2022 www.pensionbee.com 1
Slide 2: Agenda
Agenda 1 Overview of Q3 2022 2 Financial Update 3 Outlook 4 Appendix www.pensionbee.com 2
Slide 3: Overview of Q3 2022
1 Overview of Q3 2022 www.pensionbee.com 3
Slide 4: Q3 2022 Financial & Operational Highlights (1/2)
Q3 2022 Financial & Operational Highlights (1/2) ● Excellent momentum in growth of customer base, with the addition of more than 56,000 Invested Customers year to date and overall Invested Customer base of c.174,000 ● Resilience of Assets under Administration and revenue despite volatile markets; dr
Slide 5: Q3 2022 Financial & Operational Highlights (2/2)
Q3 2022 Financial & Operational Highlights (2/2) Development of AUA since Inception (£bn) Development of ARR Revenue since Inception (£m) £2.8bn Dec-18 to Sept-22 Dec-18 to Sept-22 CAGR 77% CAGR 76% 956k 265k Registered Active 174k Invested £2.8bn Assets under £17m LTM £18m Annual Run Rate >95% Cust
Slide 6: PensionBee's Growth Story
PensionBee’s Growth Story Significant growth achieved across Customers, AUA and Revenue Growth in Invested Customers (000s) Translates into Increasing AUA Base (£m) Which Drives ARR Revenue (£m) +68% +24% +27% 56k New Invested Customers in first three quarters 2022. www.pensionbee.com 6
Slide 7: Business Updates to further our Strategic Goals (1/2)
Business Updates to further our Strategic Goals (1/2) ●1 Efficient investment in customer acquisition and brand awareness - Marketing budget deployed as planned, with new “Believe in the Bee” TV campaign on prime time - TV, Out of Home and Paid Search were main channels and brand investment will sup
Slide 8: Business Updates to further our Strategic Goals (2/2)
Business Updates to further our Strategic Goals (2/2) Invested Customers per Staff Member(1) ●3 Continued investment in and development of an industry leading technology platform +39% - Strong growth in topline productivity metric of Invested Customers per Staff Member showing operational leverage -
Slide 9: Financial Update
2 Financial Update www.pensionbee.com 9
Slide 10: AUA Growth Driven by New and Existing Customers
AUA Growth Driven by New and Existing Customers High customer retention and strong continuous net flows generate attractive lifetime value Continuous Compounding of AUA (£bn) Strong Net Flows from New & Existing Customers(2) (£m) c.£2.8bn Quality of AUA Annual Run Rate Revenue (£m) YoY Across the po
Slide 11: High Retention Rate Generates Compounding AUA
High Retention Rate Generates Compounding AUA Customer Retention Rate(1) Net Flows(2) by Customer Cohorts (%) (£ m) 2,788 £534m Net Flows from New Customers 2,587 £153m Cumulative Net Flows £153m Net Flows from Cohort 2022 Existing Customers Cumulative Market Impact +£108 Cumulative Net Flows Cohort
Slide 12: Scalability Generates Operating Leverage over Time
Scalability Generates Operating Leverage over Time Resilient revenue margin combined with scalability of technology platform achieves operating leverage Resilient Gross Revenue Margin of 69 bps Scalable Technology Platform Drives Margin Improvement Supports Revenue Growth Annual Run Rate Revenue (£m
Slide 13: Disciplined Marketing Investment Drives Healthy Growth
Disciplined Marketing Investment Drives Healthy Growth Data-driven acquisition approach has enabled scaled-up marketing investment PensionBee Continues to Scale up Marketing Investment Whilst Maintaining Cost Discipline Cumulative Marketing Expenditure (£m)(1) Cumulative Invested Customers (k) and C
Slide 14: Illustrative Unit Economics Demonstrate Lifetime Revenue Profile
Illustrative Unit Economics Demonstrate Lifetime Revenue Profile 2 LTV/CAC ✔ Methodological data driven approach to Asset Driven customer acquisition Lifetime Revenue 3 ▪ Scalable technology platform 4 ✔ Attractive LTV/CAC ▪ Low cost to serve customers ✔ Attractive Payback Compelling Unit Economics
Slide 15: Outlook
3 Outlook www.pensionbee.com 15
Slide 16: Guidance & Objectives
Guidance & Objectives Metric Guidance High double digit revenue growth expected in the short-term. Revenue Growth Range of global market scenarios place 2022 revenue expectations in the £17-£18m range. Gross Revenue Margin & To remain consistent with historical levels as a proportion of revenue over
Slide 17: Key Investment Highlights
Key Investment Highlights ●1 Vast and Growing TAM(1) underpinned by Secular Growth Drivers - Transferable Pensions market is vast and growing, £722bn in size with 13% CAGR(2) - Driven by regulatory change and increased pension awareness across the UK population ●2 Differentiated Value Proposition -
Slide 18: Further Updates
Further Updates ● FY2022 trading update announcement on Thursday 19 January 2022 www.pensionbee.com 18
Slide 19: Q3 2022 Highlights
Q3 2022 Highlights KPIs As at Period End Financials Over a Trailing 12-month Period Ending Sept-2021 Sept-2022 YoY Sept-2021 Sept-2022 YoY AUA (£m) 2,247 2,788 24% LTM Revenue (£m) 11 17 52% AUA Retention Rate (% of AUA) >95% >95% Stable Annual Run Rate (ARR) (£m) 14 18 27% Registered Customers ('00
Slide 20: Appendix
4 Appendix www.pensionbee.com 20
Slide 21: Glossary
Glossary Assets under Administration (AUA) Assets under Administration (AUA) is the total invested value of pension assets within PensionBee Invested Customers’ pensions. It measures the new inflows less the outflows and records a change in the market value of the assets. AUA is a measurement of the
Slide 22: Disclaimer
Disclaimer The information contained in this presentation has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in it.