EX-99.1 2 tm2115289d1_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page001.jpg  First Quarter 2021 Results Earnings Call

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page002.jpg  Disclaimer: Forward Looking Statements and Use of Non-GAAP Information 2

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page003.jpg  First Quarter 2021 Business Highlights

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page004.jpg  Linda Findley Kozlowski President and Chief Executive Officer 4

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page005.jpg  Business Highlights Net revenue for the first quarter of 2021 increased 27% year over year to $129.7 million driven, in part, by the continued execution of the company’s growth strategy, including through product innovation Key customer metrics’ year-over-year growth continued in the first quarter as Average Order Value grew 7% to $62, the highest reported level since prior to 2015; Orders per Customer rose 15% to 5.4 and Average Revenue per Customer increased 22% to $331 (1), (2), (3) Net loss improved $4.4 million, or 22%, year over year in the first quarter to $(15.7) million; adjusted EBITDA decreased 5% year over year to $(6.1) million (4) 5

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page006.jpg  Business Highlights Over the Last Two Years Product week Operations Marketing

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page007.jpg  First Quarter 2021 Financial Results

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page008.jpg  Randy Greben Chief Financial Officer 8

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page009.jpg  First Quarter Performance Net Revenue ($M) $129.7 Million +27% YoY Marketing ($M) 15.4% As a percentage of Net Revenue % of Net Revenue 14.8% 8.8% 9.7% 10.8% 15.4%

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page010.jpg  First Quarter Performance Continued progress on our growth strategy, combined with shifting consumer behaviors, contributed to the highest reported Average Order Value in the first quarter of 2021 since prior to 2015 Average Order Value 3 Per Customer 1Orders Per Customer 2 % YoY 10 4.9%24.9% 21.9% 21.7% 22.5% 17.4% 20.0% 15.2% 14.9% 4.7% 1.7% 6.8%

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page011.jpg  First Quarter Performance Net Revenue Less COGS Margin 1 37.1% -340 bps YoY PTG&A ($M) $36.6 Million +6.8% YoY % of Net Revenue 33.6% 24.8%30.0%31.9%28.2% 11

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page012.jpg  First Quarter Performance Net Loss ($M) $(15.7) Million Adjusted EBITDA ($M)¹ $(6.1) Million 12

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page013.jpg  Financial Outlook

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page014.jpg  ● Second Quarter 20211 Outlook ● 1 2 14

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page015.jpg  Q&A

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page016.jpg [LOGO]

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page017.jpg  Appendix: Adjusted EBITDA Reconciliation

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page018.jpg  Reconciliation of Quarterly Net Income (Loss) to Adjusted EBITDA Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Guidance (in millions) Net income (loss) $(20) $1 $(15) $(12) $(16) $(17) 2 2 2 2 2 2 7 6 6 6 6 6 3 0 1 0 0 0 2 2 2 2 2 2 0 0 0 0 0 0 $(6) $11 $(5) $(2) $(6) $(7) 18 Depreciation and amortization Other operating expense Interest (income) expense, net Provision (benefit) for income taxes Adjusted EBITDA

 

 

 

New Microsoft Word Document_qpage001page2021 earnings slides  final_page019.jpg [LOGO]