AssetMark(AMK) - 2021 Q4 - Earnings Call Presentation

2021 Performance Highlights - AssetMark ended 2021 with $93.5 billion in platform assets[5] - The company achieved $9.9 billion in net flows[5], representing a 13.3% net flows as a percentage of beginning-of-period platform assets[25] - AssetMark added $19.0 billion in platform assets during 2021[5] - The company onboarded 811 new producing advisors and engaged 322 advisors[5] - AssetMark served 23,298 households[5] Q4 2021 Financial Results - Total revenue for Q4 2021 was $143.6 million, a 29.4% increase year-over-year[28] - Asset-based revenue in Q4 2021 reached $137.5 million, up 27.5% from Q4 2020[28] - Adjusted EBITDA for Q4 2021 was $38.3 million, a 19.7% increase year-over-year[44] - Adjusted net income for Q4 2021 was $24.7 million, an 11.3% increase year-over-year[44] - Adjusted EPS for Q4 2021 was $0.33, a 6.5% increase year-over-year[44] 2022 Outlook - AssetMark is targeting platform asset growth of 13.5-15.5% in 2022[45] - The company anticipates revenue less cost of revenue growth of 18-22% in 2022[45] - AssetMark expects operating expenses to increase by 16-20% in 2022[45] - The company is targeting adjusted EBITDA growth of 20%+ in 2022, with an adjusted EBITDA margin expansion of 100 bps[45]