Second Quarter 2025 Earnings Call August 11, 2025 Cautionary Statement Regarding Forward-looking Statements Pursuant to Safe Harbor Provisions of The Private Securities Litigation Reform Act of 1995 Cautionary Statement Regarding Forward-Looking Statements This presentation includes "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning Kodak's plans, objectives, goals, strategies, future event ...

Financial Performance - Q2 2025 revenue reached $91.3 million, a 9.2% year-over-year increase[18] - Q2 2025 gross margin improved to 34.7%, a 2.2 percentage point increase year-over-year[18] - Adjusted EBITDA for Q2 2025 was $25.9 million[20] - The company achieved an adjusted net profit of $16.3 million for the quarter after accounting for non-cash items[57] Regional Revenue - APAC revenue for Q2 2025 was $47.658 million, a 34% increase year-over-year[60] - EMEA revenue for Q2 2025 was $38.885 million, a 17% decrease year-over-year[60] - USA revenue for Q2 2025 was $4.796 million, a 276% increase year-over-year[60] Cash Flow and Outlook - The company ended the period with $138.8 million in cash, including restricted cash, a $29.2 million increase[66] - The company is targeting revenue growth of 18-25% for 2025[70] - Revenue guidance for 2025 is $450-475 million[71] - The company is targeting a gross margin of 30-32% for 2025[72]

Financial Highlights - Revenue increased by 18% year-over-year to $779 million in Q2 2025 [4, 8, 10] - Contribution ex-TAC increased by 16% year-over-year to $48 million in Q2 2025 [4, 8, 10] - Adjusted EBITDA increased by 18% year-over-year to $113 million in Q2 2025 [4, 12, 14] - Adjusted EBITDA margin was 23% of contribution ex-TAC in Q2 2025, flat year-over-year [4, 6, 14, 15] Growth Drivers - CTV represented nearly 45% of total advertiser spend in Q2 2025 [5] - Advertiser spend linked to Household ID increased 15% year-over-year [5] - The company established a growth pipeline of over $250 million in potential annualized ad spend opportunities [5] Stock Repurchase and Valuation - The company purchased 38 million shares of Class A common stock for a total of $502 million from May 1, 2024, through August 8, 2025, including $285 million year-to-date through August 8, 2025 [5, 19] - As of June 30, 2025, the company had a healthy cash & cash equivalents balance of $173 million and no debt outstanding [5] Q3 2025 Guidance - The company projects revenue between $835 million and $865 million, representing a 6% year-over-year increase at the midpoint [16] - The company projects contribution ex-TAC between $510 million and $530 million, representing a 10% year-over-year increase at the midpoint [16]

Financial Performance - Q4 revenue increased by 9.9% year-over-year to $273 million[5] - Full-year revenue increased by 9.2% year-over-year to $912 million[5] - Q4 Adjusted EBITDA increased to $51 million with a margin of 18.8%[5] - Full-year Adjusted EBITDA increased to $119 million with a margin of 13.1%[5] - Full-year free cash flow reached a record of $119 million[5] Bookings and Backlog - Record quarterly bookings of $342 million, resulting in a book-to-bill ratio of 1.25[5] - Record backlog of $1.4 billion[7] - Full-year book-to-bill ratio of 1.13[7] Margin Expansion - Q4 gross margin increased by 160 basis points year-over-year to 31%[8] - Expect fiscal year 2026 full-year adjusted EBITDA margin approaching mid-teens[10] Cash Flow and Debt - Net working capital is down $90 million year-over-year[5] - Net working capital is down $211 million from peak net working capital levels in Q1 of FY24[9] - Net debt decreased to $282 million, the lowest level since Q1 of FY22[9] FY26 Expectations - Expect full year fiscal 2026 revenue growth of low single-digits[10] - Expect to be free cash flow positive in fiscal 2026[10]

Financial Performance & Metrics - ZipRecruiter's Q1 2025 revenue reached $110.1 million[12] - The Adjusted EBITDA for Q1 2025 was $5.9 million, representing a 5% margin[12] - Revenue per Paid Employer in Q1 2025 was $1,734[12] - The company achieved a healthy 16% Adjusted EBITDA margin for FY 2024[15] Market Position & Growth - ZipRecruiter operates within a large Total Addressable Market (TAM) exceeding $300 billion in the recruiting industry[15, 16, 64, 65] - The company has amassed over 4 million businesses and over 170 million job seekers on its platform since its founding[15, 21] - ZipRecruiter delivered over 40 million "Great Match" candidates in 2024[15, 23] - ZipRecruiter has achieved 80% aided brand awareness among U S employers and job seekers[15, 42] - Online recruiting is growing faster (4 6% CAGR from 2020-2029) than the overall recruiting market (3 2% CAGR from 2020-2029)[69] Business Model & Technology - 78% of ZipRecruiter's revenue comes from flat-rate pricing (subscription plans), while 22% comes from performance-based pricing (cost-per-click)[26, 29] - 80% of employers using ZipRecruiter receive a quality candidate within the first 24 hours[23]

Financial Performance - Q2 2025 - Revenue increased by 1% year-over-year, from $74.9 million in Q2 2024 to $75.6 million in Q2 2025 [13] - Gross profit decreased by 2% year-over-year, from $58.6 million in Q2 2024 to $57.2 million in Q2 2025 [13] - Adjusted EBITDA decreased by 6% year-over-year, from $33.7 million in Q2 2024 to $31.8 million in Q2 2025 [13] - Free cash flow increased by 17% year-over-year, from $19.3 million in Q2 2024 to $22.6 million in Q2 2025 [13] - Free Cash Flow conversion increased from 57% to 71% [13] Segment Performance - Consumer Payments revenue increased by 2% year-over-year, from $69.3 million in Q2 2024 to $70.5 million in Q2 2025 [18] - Business Payments revenue increased by 9% year-over-year excluding political media, but decreased by 3% as reported [21] Liquidity and Debt - Total liquidity was $413 million as of June 30, 2025 [25, 49] - Net leverage ratio was 2.5x as of June 30, 2025, with net debt of $345 million and LTM Adjusted EBITDA of $137 million [27] Outlook - The company reiterates its previously provided financial outlook and expects sequential quarterly acceleration in normalized growth year-over-year [32]

Financial Performance - Q2 2025 revenue was $47.4 million[21] - Nucleic Acid Production (NAP) revenue was $31.1 million, representing 66% of total revenue[37] - Biologics Safety Testing (BST) revenue was $16.3 million, accounting for 34% of total revenue[37] - The company reported a GAAP net loss of $69.8 million, which includes a $30.4 million non-cash goodwill impairment charge[27] - Adjusted EBITDA was negative $10.4 million, with an adjusted EBITDA margin of -22%[27] - Basic and Diluted EPS were both negative $0.27, while Adjusted EPS was negative $0.08[29] Balance Sheet and Cash Flow - Cash used in operations during Q2 2025 was $10.3 million[33] - The company's cash position is $270 million, with long-term gross debt of $297 million, resulting in net cash of negative $27 million[33] Strategic Initiatives - A restructuring plan is in place, targeting more than $50 million in annual cost savings[15, 39] - The company aims to return to positive adjusted EBITDA in the second half of 2026[15] - The company is targeting positive free cash flow in the second half of 2026[15]

Q2 2025 Financial Performance - Non-GAAP Revenue increased by 24% to $501 million[5,19] - Adjusted EBITDA increased by 34% to $45 million[5,19] - Non-GAAP EPS increased by 60% to $040[5,20] Segment Performance - B2B Services revenue increased by 38% to $3487 million[21] - Consumer Services revenue decreased by 4% to $931 million[21] - Money Movement revenue decreased by 4% to $508 million[21] - B2B Services segment profit increased by 47%[21] - Consumer Services segment profit decreased by 4%[21] - Money Movement segment profit decreased by 3%[21] Key Metrics - Active accounts increased by 2%[6,28] - B2B Services active accounts increased by 10%[30,50] - Consumer Services active accounts declined by 5%[30,41] 2025 Guidance and Outlook - Projected Non-GAAP Revenue is $20 billion-$21 billion, representing approximately 20% growth at the midpoint[62,64] - Projected Adjusted EBITDA is $160 million-$170 million[62] - Projected Non-GAAP EPS is $128-$142[62]

Company Overview - AlTi Global manages or advises on approximately $97 billion in combined assets[4] - The company boasts a client retention rate of 96% since 2021[11] - Approximately 59% of Wealth Management AUM/AUA is from the U S, while 41% is from non-U S sources[11] Financial Performance (Q2 2025) - Total revenue reached $53 million, a 7% increase compared to Q2 2024's $49 5 million[71] - Wealth Management and Capital Solutions (WM & CS) revenue was $52 million, with management fees at $49 million, up 8% and 6% year-over-year, respectively[70] - AUM/AUA increased by 35% year-over-year to $97 2 billion[71] Strategic Initiatives - AlTi Global finalized an expense optimization plan using Zero-Based-Budgeting (ZBB), expecting $20 million in annual gross savings over the next two years[70] - The company completed the acquisition of Kontora, a Hamburg-based MFO with $16 billion in AUA/AUM, on April 30, 2025[70] - Strategic investments from Allianz X and CWC provide up to $450 million to fuel AlTi's M&A pipeline and accelerate international expansion[15]

Financial Performance - Second quarter 2025 revenue reached $59.6 million, exceeding the midpoint of the guidance range of $57 million to $60 million[8] - Adjusted EBITDA for 2Q25 was $2.9 million, surpassing the high end of the guidance range of $(4) million to $(2) million[8] - Recurring revenue accounted for 92% of total revenue in 2Q25, amounting to $55.0 million[8] - The company anticipates revenue between $56 million and $59 million for 3Q25, representing a year-over-year decline of 25% to 21%[19] - Full year 2025 revenue is projected to be in the range of $230 million to $240 million, a year-over-year decrease of 26% to 23%[19] Key Transactions - The company entered into an agreement to exchange $341.1 million of its outstanding 2026 Convertible Senior Notes for $45.0 million in cash, $115.0 million of 2029 Senior Subordinated Secured Notes, and Common and Preferred Equity[8] Customer Metrics - The average revenue per customer (ARPC) for 2Q25 was $655,000[16] - Net revenue retention rate for recurring revenue in 2Q25 was 78%[16] - Remaining performance obligations totaled $197 million in 2Q25[16] Business Updates - Total deal count in 2Q25 was 38, including 35 expansion & renewal deals and 3 new logo wins[8] - There was a 45% sequential increase in conversations leveraging LivePerson Generative AI capabilities[8]