Circut Results Presentation Deck | Slidebook.io

Circut Results Presentation Deck

May 2021, 34 slides

financial results ped caw may | Circut

safe harbor statement this presentation contains forward looking statements within the meaning of section a of the securities act of and section of the securities exchange act of we intend all forward looking statements to be covered by the provisions of the private securities litigation reform act of forward looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward looking words such as anticipates believes estimates expects intends plans projects may or similar terminology and include our business opportunity strategies future financial results and long term target model these statements are based on and reflect our current expectations estimates assumptions and or projections as well as our perception of historical trends and current conditions as well as other factors that we believe are appropriate and reasonable under the circumstances forward looking statements are neither predictions nor guarantees of future events circumstances or performance and are inherently subject to known and unknown risks uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements there can be no assurance that our expectations estimates assumptions and or projections including with respect to the future earnings and performance of will prove to be correct or that any of our expectations estimates or projections will be achieved numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward looking statements including but not limited to risks and uncertainties associated with our ability to attract and engage with our users competitive risks supply chain manufacturing distribution and fulfillment risks international risks including regulation and tariffs that have materially increased our costs and the potential for further trade barriers or disruptions sales and marketing risks including our dependence on sales to brick and mortar and retail partners and our need to continue to grow sales risks relating to the complexity of our business which includes connected machines custom tools hundreds of materials design commerce subscriptions content international production direct sales and retail distribution risks related to product quality safety and warranty claims and returns risks related to the fluctuation of our quarterly results of operations and other operating metrics risks related to intellectual property and potential data breaches risks related to our dependence on our chief executive officer risks related to our status as a controlled company and the impact of economic and geopolitical events natural disasters and actual or threatened public health emergencies such as the ongoing pandemic in addition certain risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward looking statements all forward looking statements should be evaluated with the understanding of their inherent uncertainty the forward looking statements included in these materials are only made as of the date indicated on the relevant materials and we disclaim any obligation to publicly update any forward looking to reflect subsequent events or circumstances except as required by law | Circut

welcome | Circut

highlights net revenue net income yoy increase yoy increase yoy increase march raised as of march net income adjusted to exclude interest expense net income taxes and depreciation and amortization expense see reconciliation in the appendix includes million of recurring stock based compensation expense and million of one time expenses related to the corporate reorganization associated with the financial results | Circut

strong user acquisition healthy engagement drives a a total up from users yoy growth ending paid subscribers yoy growth did you know of new customers come from word of mouth financial results | Circut

the platform be financial results set accessories materials connected machines subscriptions | Circut

long term trends pech followers following posts the page we help people lead creative for and era home message view shop call tips tricks materials financial results personalization of tools technology enabling a new generation of entrepreneurs proliferation of social media | Circut

our user journey typically starts with a connected machine | Circut

subscriptions give users access to premium content and more quick labels create your own custom labels in just a few steps over images all benefits plus hundreds of fonts preferred shipping additional discounts ready to make projects discounts priority member care as of the end of did you know almost of were paid subscribers | Circut

social networks are an engagement hub for users media followers views of on a you seen paper flowers but have you seen paper flowers like this my sister is getting married this and just completed these centerpieces we were at a store a month and half ago to look at flowers and think about what we were going to do nothing was what my sister wanted and it was also so expensive so being the crafty person am who always comes up with crazy ideas that require a lot of time and effort said let make paper flowers there was hesitation but my enthusiasm won them over she is so happy we did this flowers in shades of purple white and ivory were made using my the fillers moss silk silver dollar eucalyptus leaves and dried baby breath we also made all the boxes out of the stacks of pallets we had so the cost was very minimal like comment share comments shares | Circut

engaging hobbyists and entrepreneurs alike empowering enabling small businesses celebrating diversity having the maker is a game changer owner print shop our company has made more money this year than our month contract with a major national retailer dedicated efforts to amplify black creators during black history month beyond owner fashion design shop made by for beginners group member did you know of users make projects to sell many have created their own businesses | Circut

we estimate we still have millions to reach ante tar total sam total tam international sam active users number of people users penetration note international opportunity includes and the united kingdom users as of march estimated sam and tam figures based on a study commissioned by in additional detail on sam and tam included in the appendix financial results us canada number of people tam potential | Circut

creativity is universal international revenue growth in yoy expanded global team new markets continued retail expansion middle east did you know of revenue was generated by international in financial results | Circut

expanding our product ecosystem and platform mug press launch machine accessory that allows users to easily create professional looking personalized mugs launch included new capabilities content materials compatible mug blanks financial results | Circut

innovation creates platform extensibility strategic updates tutorials and education inside design space search enhancements project collections offset feature you on mute sign floral card description print this card layers two pens of different widths and colors on top of each other put mone fasten description let your my projects view new project more faster mug brick pattern blue angel stripes top video view on lye coos new mug press in design space new features from the community happy mother day view as financial results | Circut

let financial results | Circut

financial results | Circut

flywheel platform connected machines revenue did gross profit from our connected machines subscriptions revenue accessories materials mostly covers our customer acquisition cost revenue | Circut

revenue breakdown connected machine grew yoy subscriptions grew yoy accessories and materials grew yoy international grew yoy and represented of total i i i yoy growth connected machines subscriptions accessories materials | Circut

healthy engagement a day pole ending paid subscribers no mice yoy growth an percentage of users creating on their connected machines in the trailing days as of each quarter end | Circut

increased user monetization subscriptions accessories materials average revenue per | Circut

significant increase in gross margin contributing factors shift manufacturing reduction tariffs by shifting production of connected machines from china to product mix subscription revenue continues to as of total revenue accessories and materials improved due to favorable product costing product mix and promotions pricing i a connected machines subscriptions accessories materials | Circut

efficient business growth sales marketing spend continue to invest for future fixed cost leverage i operating expense a | Circut

strong growth in net income and margin margin adjusted to exclude interest expense taxes depreciation amortization expense see reconciliation the appendix included million of recurring stock based compensation expense million of one time expenses related to the corporate reorganization associated with the stock based compensation was million for million for million for million for | Circut

balance sheet and cash flow highlights so high equivalents as of total raised to date from equivalents market securities including raised from exercise of including the raised from our used in as of used in operations | Circut

long term target model as of gross margin shell pay expense say a see a a i a | Circut

questions | Circut

thanks pot | Circut

appendix financial results | Circut

preliminary reconciliation of net income to i in thousands margin adjusted exclude the following depreciation and amortization expense interest expense corporate tax expense margin three months ended three months ended includes million recurring stock based compensation expense and million one time expenses related the corporate reorganization associated with the includes million recurring stock based compensation expense results | Circut

preliminary reconciliation of net income to i three months ended three months ended three months an three months ended three months an in thousands margin adjusted exclude the following depreciation and amortization expense interest expense corporate tax expense margin included million recurring stock based compensation expense and million one time expenses related the corporate reorganization associated with the stock based compensation was million for million for million for and million for financial results | Circut

preliminary reconciliation of net income to i year ended year ended year ended in thousands margin adjusted exclude the following depreciation and amortization expense interest expense corporate tax expense margin includes million stock based compensation expense includes million stock based compensation expense and includes million stock based compensation expense financial results | Circut

sam tam additional information i we believe that everyone is innately creative and thus anyone can be a part of the community of users this presents us with a large untapped market opportunity in addition to our current user base we quantify our market opportunity in terms of a serviceable market or and a total market or we commissioned a study from in across countries the sample size of those surveyed in each country included over individuals ages and older to calculate our and we extrapolate these survey results across the general population ages and older in each country our consists of the portion of individuals surveyed who said they have made at least one creative project in categories addressed by our current products in the last months whom we call active our includes the individuals in our as well as the portion of individuals surveyed who said they like buy used to make or are interested in creating personalized handmade or custom items whom we call potential but who have not made at least one creative project in categories addressed by our current products in the last months our includes active who we address with our current product and price points our includes potential who we believe we can reach over the long term as we make products for new uses and products that are even more accessible easier to use and available at a broad set of price points we assess our and in the united states and canada and internationally today a small portion of our revenue is generated from countries outside the united states and canada we currently four of these countries and the united kingdom as our primary international target markets and include them in our international and | Circut

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