Telenav | Transforming Life on the Go

Telenav, Inc. (NASDAQ: TNAV)

Fourth Quarter and Fiscal 2020 Conference Call

August 12, 2020

Q4 2020

Forward Looking Statements

This supplemental investor presentation contains forward-looking statements that are based on the Company management's belief and assumptions and on information currently available to its management. Actual events or results may differ materially from those described in this document due to a number of risks and uncertainties. These potential risks and uncertainties include, among others: These potential risks and uncertainties include, among others: the impact of the COVID-19 on business activity, including but not limited to the shutdown of manufacturing operations by Ford, GM and other automobile manufacturer customers; consumer demand for new vehicles and the Company's operations; when Ford, GM and other automobile manufacturer partners will resume full production and the impact the continued period of reduced volume of new vehicles being produced will have our revenue and operating results; the ensuing economic recession; the Company's ability to achieve future revenue currently estimated under customer engagements; the Company's ability to develop and implement products for Ford, GM and Toyota and to support Ford, GM and Toyota and their customers; the impact of Ford's announcement regarding the elimination of various sedans in North America over the near term; the impact of tariffs on sales of automobiles in the United States and other markets; the Company's success in extending its contracts for current and new

generation of products with its existing automobile manufacturers and tier ones, particularly Ford; the impact of Ford's announcement regarding Garmin and the possibility that Ford and other OEMs may transition additional business to other platforms and provides, such as Google Automotive Services; GM's announcement regarding Google Automotive Services; the Company's ability to achieve additional design wins and the delivery dates of automobiles including the Company's products; adoption by vehicle purchasers of Scout GPS Link; the Company's ability to remediate its material weaknesses in its internal control over financial reporting and disclosures, and timely demonstrate such mitigation, including as it may relate to the Company's recognition of revenue; the Company's dependence on a limited number of automobile manufacturers and tier ones for a substantial

portion of its revenue, such as Ford and GM; reductions in demand for automobiles in general and specifically for Ford and GM vehicles; potential

impacts of automobile manufacturers and tier ones, in particular Ford and GM, including competitive capabilities in their vehicles, such as Apple CarPlay and Android Auto; the Company's continued reporting of losses and operating expenses in excess of expectations the timing of new product releases and vehicle production by the Company's automotive customers, including inventory procurement and fulfillment; possible warranty claims, and the impact on consumer perception of its brand; the Company's ability to perform under its initiatives with Amazon and Microsoft, and benefit from those initiatives; the potential that the Company may not be able to realize its deferred tax assets and may have to take a reserve against them;. The Company discusses these risks in greater detail in "Risk Factors" and elsewhere in its Form 10-K for the fiscal year ended June 30, 2019 and other filings with the U.S. Securities and Exchange Commission ("SEC"), which are available at the SEC's website at www.sec.gov. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-looking statements represent management's beliefs and assumptions only as of the date made. You should review the company's SEC filings carefully and with the understanding that actual future results may be materially different from what the Company expects.

Use of Non-GAAP Financial Measures

Telenav prepares its financial statements in accordance with generally accepted accounting principles for the United States, or GAAP. The non-GAAP financial measures such as billings, change in deferred revenue, change in deferred costs, adjusted EBITDA, and free cash flow included in this supplemental investor presentation are different from those otherwise presented under GAAP. Telenav has provided these measures in addition to GAAP financial results because management believes these non-GAAP measures help provide a consistent basis for comparison between periods that are not influenced by certain items and, therefore, are helpful in understanding Telenav's underlying operating results. These non-GAAP measures are some of the primary measures Telenav's management uses for planning and forecasting. These measures are not in accordance with, or an alternative to, GAAP and these non-GAAP measures may not be comparable to information provided by other companies. To reconcile the historical GAAP results to non-GAAP financial metrics, please refer to the reconciliations in the financial tables included in this supplemental investor presentation.

Billings equal GAAP revenue recognized plus the change in deferred revenue from the beginning to the end of the applicable period. In connection with its presentation of the change in deferred revenue, Telenav has provided a similar presentation of the change in the related deferred costs. Such deferred costs primarily include costs associated with third party content and certain development costs associated with its customized software solutions whereby customized engineering fees are earned. As the company enters into more hybrid and brought-in navigation programs, deferred revenue and deferred costs become larger components of its operating results, so Telenav believes these metrics are useful in evaluating cash flows. Telenav considers billings to be a useful metric for management and investors because billings drive revenue and deferred revenue, which is an important indicator of its business. There are a number of limitations related to the use of billings versus revenue calculated in accordance with GAAP. First, billings include amounts that have not yet been recognized as revenue and may require additional services to be provided over contracted service periods. For example, billings related to certain brought-in solutions cannot be fully recognized as revenue in a given period due to requirements for ongoing map updates and provisioning of services such as hosting, monitoring, customer support and, for certain customers, additional period content and associated technology costs. Second, we may calculate billings in a manner that is different from peer companies that report similar financial measures, making comparisons between companies more difficult. Accordingly, when Telenav uses this measure, it attempts to compensate for these limitations by providing specific information regarding billings and how they relate to revenue calculated in accordance with GAAP.

Adjusted EBITDA measures GAAP net income/loss adjusted for discontinued operations and excluding the impact of stock-based compensation expense, depreciation and amortization, other income (expense) net, provision (benefit) for income taxes, and other applicable items such as legal settlements and contingencies. Stock-based compensation expense relates to equity incentive awards granted to its employees, directors, and consultants. Legal settlements and contingencies represent settlements, offers made to settle, or loss accruals relating to litigation or other disputes in which Telenav is a party or the indemnitor of a party. Adjusted EBITDA, while generally a measure of profitability, can also represent a loss. Adjusted EBITDA is a key measure Telenav uses to understand and evaluate its core operating performance and trends, to prepare and approve its annual budget and to develop short- and long-term operational plans. In particular, Telenav believes that the exclusion of the expenses eliminated when calculating adjusted EBITDA can provide a useful measure for period-to-period comparisons of Telenav's core business. Accordingly, Telenav believes that adjusted EBITDA generally may provide useful information to investors and others in understanding and evaluating its operating results in the same manner as Telenav does.

Free cash flow is a non-GAAP financial measure Telenav defines as net cash provided by (used in) operating activities, less purchases of property and equipment. Telenav considers free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash (used in) generated by its business after purchases of property and equipment.

Key Financial Metrics | Strong Fiscal Year 2020

240

12

197

FY 2019

FY 2019

FY 2020

FY 2020

+ 22%

+ $27M

Revenue Growth

Improvement in

EBITDA

-15

144

100 33

0.5

99

111

FY 2019 FY 2020

+ $44M

Cash & Equity

Investments

4

Evolving Landscape I Our Response

Improving

Pandemic

Team

OEM Outlook

Response &

Resilience &

from Q4

Cost Efficiency

Will to Win

Connected Car Platform Strategy | Build, Acquire & Partner

Building momentum via our flywheel strategy, focusing on 3 growth engines to capture +$500B* TAM

T E L E N A V

C O N N EC TED

C AR PL ATFO RM

» Location Based

Intelligence (LBI)

» Big Data + AI

Margin Expansion with Higher

Quality Service

* Source: McKinsey Report--Monetizing Car Data, Sept. 2016

$500 Billion

Connected Car

Market

6

In-Car Software and Service

» Ford launched SYNC4 - F-150, Bronco

  • Won two new Chinese OEM awards
  • SAIC - Largest OEM in China

Xpeng Motors - Leading EV OEM

» VIVID platform advancement & beta testing

» Investment in video platform company for

fleets

T E L E N A V

C O N N E C T E D C A R P L A T F O R M

» Location Based Intelligence (LBI)

» Big Data + AI7

In-Car Commerce and Communication

  • Continued to develop ICC; launch with Japanese OEM expected in 2H FY21
  • Increased investment in Motion Auto Insurance
  • rapid increase in market coverage

continues to scale at an accelerated pace

T E L E N A V

C O N N E C T E D C A R P L A T F O R M

» Location Based Intelligence (LBI)

» Big Data + AI

  • InMarket Media continues to grows at double digit %

8

Road Intelligence

  • Partnership with Grab to enhance Open Street Maps (OSM)
  • Exploring other road intelligence / ride hailing deals deal across the globe

T E L E N A V

C O N N E C T E D

C A R P L A T F O R M » Location Based

Intelligence (LBI) » Big Data + AI

9

2021 Focus Areas

  • Drive flywheel momentum with:
    • Organic initiatives
    • Inorganic opportunities
  • Strive for operational excellence
    • continue the journey
  • Build great culture

T E L E N A V

C O N N EC TED

C AR PL ATFO RM

» Location Based

Intelligence (LBI)

» Big Data + AI

10

Q4 and FY20 Financial Overview

Key Messages I Q420 & FY20

Outstanding FY20 financial performance despite significant Covid-19 impact on Q420

Significant impact of Covid-19 & OEM shutdowns on Q420

» Q420 Revenue of $35M down 32% Y/Y

1

» Q420 EBITDA of -$6.4M up $0.9M Y/Y

Despite all the headwinds in Q320 and Q420, excellent performance in FY20

» FY20 Revenue of $240M up 22% vs FY19

» FY20 EBITDA of $12M up $27M Y/Y

2

$111M in cash, strong position even after a challenging quarter

» Equity investments made in multiple companies of approx. $33M

» $144M in cash and equity investments represent approximately 55% of TNAV's Market Cap at end of quarter

Continued to execute on our connected car platform strategy to capitalize on the $500B connected car market

3

» Awarded two new deals with Chinese OEMs, SAIC and Xpeng

» Completed investment in Waylens, a video platform service company for fleets

» Increased investment in Motion Auto as we continue to partner and drive our in-carinsurance solution forward

4

COVID-19

» While impact was significant in Q420, near-to-mid term outlook continues to stabilize & improve

  • TNAV workforce proved their resilience & adaptability one more time, all projects on track without any disruption

Key Metrics | Q4 FY201

1

Billings2

4

OPEX3

$31M

71% of Rev

-63% YoY

+8 pts YoY

+24 pts QoQ

-51% QoQ

2

Revenue3

5

Adjusted EBITDA2

$35M

-$6M

-32% YoY

+$1M YoY

-45% QoQ

-$8M QoQ

3

Gross Margin %3

6

FCF2

42%

-$14M

-1 pts YoY

-$18M YoY

-2 pts QoQ

-$21M QoQ

1 Adjusted for discontinued operations for all periods

2 Non-GAAP measure

7 Total Cash on Hand2

$111M

+11% YoY

-10% QoQ

8 Connected Cars

20M

+33% YoY

+5% QoQ

9 Total Installed Base

29M

+22% YoY

+4% QoQ

3 GAAP measure

Key Metrics | FY201

1 Billings2

$244M

-5% YoY

2 Revenue3

$240M

+22% YoY

3 Gross Margin %3

47%

+5 pts YoY

1 Adjusted for discontinued operations for all periods

2 Non-GAAP measure

4OPEX3

47% of Rev

-9 pts YoY

5 Adjusted EBITDA2

$12M

+$27M YoY

6FCF2

$26M

+$17M YoY

7 Operating Income3

$0.6M

+$28M YoY

8 Net Loss3

-$1M

+$32M YoY

9 Total Cash on Hand2

$111M

+11% YoY

3 GAAP measure

Performance Overview Breakdown | FY201

Substantial revenue growth Y/Y in both product and services

Telenav Total Company

Revenue

Gross profit

$240.4 million

$113.9 million

+22% y/y

47% of revenue, +4.9 pts y/y

Product

Revenue

Gross profit

$191.3 million

$92.2 million

+13% y/y

48% of revenue, +5.9 pts y/y

Services

Revenue

Gross profit

$49.1 million

$21.7 million

+75% y/y

44% of revenue, +0.9 pts y/y

Revenue Services

Mix20%

80%

Key Highlights

Product

  • Significant year-over-year growth in revenue with increased services revenue mix
  • Total revenue of $240.4M, up 22% Y/Y; Gross Margin of 47% up 4.9pts Y/Y
  • Services business represented 20% of the overall revenue mix
  • Operating Profit turned positive in fiscal 20 at $0.6 million, compared with a loss of $(27.2) million in Fiscal 2019
  • GAAP net loss for fiscal 2020 was $(0.9) million, compared with a loss of $(32.5) million for fiscal 2019

All measures above are GAAP

1 Adjusted for discontinued operations for all periods

- Please refer to the financial tables at the back of this presentation and Telenav's Investor Relations website for the latest SEC filings

Growth Opportunities | Short to Medium Term

Huge navigation & infotainment market opportunity with sizable market segments to address

5

4

3

Aftermarket all-in-

one VIVID solution

2

In-Car Commerce

1

VIVID as an

embedded

Connected car market is

Increase share of

platform for OEMs

expected to be $500+

wallet within

billion by 20302

Win New OEM's

existing customers

1 http://www.automotivebusiness.com.br/abinteligencia/pdf/TheDigitalDriveReport-January2018.pdf

16

2 McKinsey Report--Monetizing Car Data, Sept. 2016, ** https://www.statista.com/statistics/233743/vehicle-sales-in-china/

FY21 | Focus on Operational Discipline

Operational Discipline & Cost Controls

  • Single digit reduction in Workforce
  • Reduce contractor spend
  • Minimize discretionary spend
  • Execute on labor location strategy
  • Several other initiatives in the works to further control costs
  • IT transformation to drive operational efficiencies and productivity gains

FY21 OpEx

Mid to High single

digit decline Y/Y

Q1 FY21 Outlook

Q1 FY21 Outlook

Guidance (as of August 12, 2020)

(dollars in millions)

Revenue

$57.0 to $59.0

Gross margin %

43% to 45%

Operating expenses

$27.0 to $29.0

Net income

$(3.0) to $(1.0)

Adjusted EBITDA*

$0.0 to $2.0

- All measures above are GAAP except where denoted by a * (Non-GAAP)

Q4 Appendix and FY20 Financial Tables

Key Financial Metrics | YoY, QoQ

Year-over-year growth in total cash on hand despite Covid-19

$64.5

$83.0

$51.7

$63.5

Revenue ($m)

Billings ($m)

$35.4

$31.1

- Revenue is a GAAP measure

- Reve ue is GAAP measure

- Billings is a non-GAAP measure

- Billings is a non-GAAP measure

Q4 FY19

Q3 FY20

Q4 FY20

- Adjusted for discontinued operations for all periods

Q4 FY19

Q3 FY20

Q4 FY20

- Adjusted for discontinued operations for all periods

$123.7

$110.8

$99.5

Q4 FY19

Q3 FY20

Q4 FY20

Total Cash on Hand ($m)

    • Both charts represent Non-GAAP measures
    • Total Cash on Hand includes cash, cash equivalents, and short-
  • Both charts represent Non-GAAP measures

term investments

- Total Cash on Hand includes cash, cash equivalents, and short- -Adjustedfor discontinued operations for all periods

term investments

-Adjusted for discontinued operations for all periods

- Please refer to the financial tables at the back of this presentation and

Telenav's Investor Relations website for the latest SEC filings

- Please refer to the financial tables at the back of this presentation and Telenav's Investor Relations website for the latest SEC filings

$6.9

$4.3

Free Cash Flow ($m)

-$14.0

Q4 FY19

Q3 FY20

Q4 FY20

Telenav, Inc.

Condensed Consolidated Balance Sheets

(in thousands, except par value)

(unaudited)

June 30,

June 30,

2020

2019

2020

2019

Assets

Liabilities and stockholders' equity

Current assets:

Current liabilities:

Cash and cash equivalents

$

20,518

$

27,275

Trade accounts payable

$

12,291

$

16,061

Short-term investments

90,315

72,203

Accrued expenses

36,210

48,899

Accounts receivable, net of allowances of $5 and $7 at June 30, 2020

and 2019, respectively

34,542

69,781

Operating lease liabilities

2,786

-

Restricted cash

1,494

1,950

Deferred revenue

37,973

31,270

Deferred costs

26,121

18,752

Income taxes payable

715

800

Prepaid expenses and other current assets

4,505

3,784

Liabilities of discontinued operations

-

3,373

Assets of discontinued operations

-

6,330

Total current liabilities

89,975

100,403

Total current assets

177,495

200,075

Deferred rent, non-current

-

1,266

Property and equipment, net

4,319

5,583

Operating lease liabilities, non-current

5,191

-

Operating lease right-of-use assets

7,067

-

Deferred revenue, non-current

100,970

103,865

Deferred income taxes, non-current

1,515

998

Other long-term liabilities

645

811

Goodwill and intangible assets, net

14,255

15,701

Liabilities of discontinued operations, non-current

-

30

Deferred costs, non-current

54,548

61,050

Commitments and contingencies

-

-

Other assets

34,552

1,414

Stockholders' equity:

Assets of discontinued operations, non-current

-

12,194

Preferred stock, $0.001 par value: 50,000 shares authorized; no shares issued or outstanding

-

-

Common stock, $0.001 par value: 600,000 shares authorized; 47,342 and 46,911 shares

Total assets

$

293,751

$

297,015

issued and outstanding at June 30, 2020 and 2019, respectively

47

47

Additional paid-in capital

192,170

182,349

Accumulated other comprehensive loss

(477)

(1,477)

Accumulated deficit

(94,770)

(90,279)

Total stockholders' equity

96,970

90,640

Total liabilities and stockholders' equity

$

293,751

$

297,015

Telenav, Inc.

Condensed Consolidated Statements of Operations

(in thousands, except per share amounts)

(unaudited)

Three Months Ended

Fiscal Year Ended

June 30,

June 30,

2020

2019

2020

2019

Revenue:

Product

$

21,614

$

44,569

$

191,253

$

168,619

Services

13,737

7,134

49,098

28,036

Total revenue

35,351

51,703

240,351

196,655

Cost of revenue:

Product

12,943

25,110

99,030

97,245

Services

7,392

4,142

27,401

15,904

Total cost of revenue

20,335

29,252

126,431

113,149

Gross profit

15,016

22,451

113,920

83,506

Operating expenses:

Research and development

17,259

23,023

79,256

78,603

Sales and marketing

2,034

2,049

8,280

7,584

General and administrative

5,704

7,117

25,822

23,811

Legal settlements and contingencies

-

50

-

700

Total operating expenses

24,997

32,239

113,358

110,698

Income (loss) from operations

(9,981)

(9,788)

562

(27,192)

Other income, net

765

213

3,010

2,916

Income (loss) from continuing operations before provision for income taxes

(9,216)

(9,575)

3,572

(24,276)

Provision for income taxes

215

340

1,336

1,376

Equity in net income of equity method investees

(182)

-

(876)

-

Income (loss) from continuing operations

(9,249)

(9,915)

3,112

(25,652)

Discontinued operations:

Income (loss) from operations of Advertising business, net of tax

-

(2,941)

832

(6,836)

Loss from sale of Advertising business

-

-

(4,874)

-

Loss on discontinued operations

-

(2,941)

(4,042)

(6,836)

Net loss

$

(9,249)

$

(12,856)

$

(930)

$

(32,488)

Basic income (loss) per share:

Income (loss) from continuing operations

$

(0.20)

$

(0.21)

$

0.07

$

(0.56)

Loss on discontinued operations

-

(0.06)

(0.08)

(0.15)

Net loss

$

(0.20)

$

(0.28)

$

(0.02)

$

(0.71)

Diluted income (loss) per share:

Income (loss) from continuing operations

$

(0.20)

$

(0.21)

$

0.06

$

(0.56)

Loss on discontinued operations

-

(0.06)

(0.08)

(0.15)

Net loss

$

(0.20)

$

(0.28)

$

(0.02)

$

(0.71)

Weighted average shares used in computing income (loss) per share

Basic

47,310

46,271

47,868

45,577

Diluted

47,310

46,271

48,761

45,577

Telenav, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

Fiscal Year Ended

June 30,

2020

2019

Operating activities

Investing activities

Net loss

$

(930)

$

(32,488)

Purchases of property and equipment

Loss on discontinued operations

4,042

6,836

Purchases of short-term investments

Income (loss) from continuing operations

3,112

(25,652)

Proceeds from sales and maturities of short-term investments

Adjustments to reconcile income (loss) from continuing operations to net cash provided by operating activities:

Purchases of long-term investments

Stock-based compensation expense

8,034

7,404

Net cash used in investing activities

Depreciation and amortization

3,430

3,678

Financing activities

Operating lease amortization, net of accretion

2,998

-

Proceeds from exercise of stock options

Accretion of net premium on short-term investments

258

(30)

Repurchase of common stock

Equity in net (income) of equity method investees

(876)

-

Tax withholdings related to net share settlements of restricted stock units

Gain on sale of intellectual property and workforce to Grab

(45)

-

Net cash provided by (used in) financing activities

Non-cash revenue associated with grant of perpetual license to Grab

(5,831)

-

Effect of exchange rate changes on cash, cash equivalents and restricted cash

Unrealized gain on investments

-

(1,174)

Net increase (decrease) in cash, cash equivalents and restricted cash, continuing operations

Other

(361)

(32)

Net cash used in discontinued operations

Changes in operating assets and liabilities:

Cash, cash equivalents and restricted cash, beginning of period

Accounts receivable

35,698

(28,624)

Cash, cash equivalents and restricted cash, end of period

Deferred income taxes

(541)

(153)

Supplemental disclosure of cash flow information

Deferred costs

(891)

(21,377)

Income taxes paid, net

Non-cash investing: Investment in inMarket Media, LLC acquired in exchange for sale of

Prepaid expenses and other current assets

435

(354)

Advertising business

Other assets

(249)

(177)

Non-cash sale of assets to Grab in exchange for equity investment and software

Trade accounts payable

(3,875)

3,359

Non-cash transfer of non-marketable equity securities to short-term investments

Accrued expenses and other liabilities

(13,941)

12,489

Cash flow from discontinued operations:

Income taxes payable

(74)

583

Net cash used in operating activities

Deferred rent

-

360

Net cash used in financing activities

Operating lease liabilities

(3,763)

-

Net cash transferred from continuing operations

Deferred revenue

3,753

60,597

Net change in cash and cash equivalent from discontinued operations

Net cash provided by operating activities

27,271

10,897

Cash and cash equivalents of discontinued operations, beginning of period

Cash and cash equivalenta of discontinued operations, end of period

Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets

Cash and cash equivalents

Restricted cash

Total cash, cash equivalents and restricted cash

Fiscal Year Ended

June 30,

2020

2019

(933)

(1,398)

(80,673)

(45,816)

63,513

43,737

(9,920)

-

(28,013)

(3,477)

8,432

8,853

(9,353)

(1,303)

(1,334)

(1,982)

(2,255)

5,568

(241)

(478)

(3,238)

12,510

(3,975)

(3,384)

29,225

20,099

$

22,012

$

29,225

$

2,153

$

1,128

$

15,600

$

-

$

7,012

$

-

$

-

$

1,348

$

(3,569)

$

(3,384)

(406)

-

3,975

3,384

-

-

-

-

$

-

$

-

$

20,518

$

27,275

1,494

1,950

$

22,012

$

29,225

Telenav, Inc.

Unaudited Reconciliation of Non-GAAP Adjustments

(in thousands)

Reconciliation of Revenue to Billings

Three Months Ended

Fiscal Year Ended

June 30,

June 30,

2020

2019

2020

2019

Revenue

$

35,351

$

51,703

$

240,351

$

196,655

Adjustments:

Change in deferred revenue

(4,259)

31,316

3,808

60,597

Billings

$

31,092

$

83,019

$

244,159

$

257,252

Deferred revenue, end of period Deferred revenue, beginning of period Change in deferred revenue

Deferred costs, end of period Deferred costs, beginning of period Change in deferred costs(1)

Telenav, Inc.

Unaudited Reconciliation of Non-GAAP Adjustments

(in thousands)

Reconciliation of Deferred Revenue to Change in Deferred Revenue

Reconciliation of Deferred Costs to Change in Deferred Costs

Three Months Ended

Fiscal Year Ended

June 30,

June 30,

2020

2019

2020

2019

$

138,943

$

135,135

$

138,943

$

135,135

143,202

103,819

135,135

74,538

$

(4,259)

$

31,316

$

3,808

$

60,597

$

80,669

$

79,802

$

80,669

$

79,802

82,698

72,359

79,802

58,425

$

(2,029)

$

7,443

$

867

$

21,377

  1. Deferred costs primarily include costs associated with third-party content and in connection with certain customized software solutions, the costs incurred to develop those solutions. We expect to incur additional costs in the future due to requirements to provide ongoing map updates and provisioning of services such as hosting, monitoring, customer support and, for certain customers, additional period content and associated technology costs.

Telenav, Inc.

Unaudited Reconciliation of Non-GAAP Adjustments

(in thousands)

Reconciliation of Net Loss to Adjusted EBITDA

Three Months Ended

Fiscal Year Ended

June 30,

June 30,

2020

2019

2020

2019

Net loss

$

(9,249)

$

(12,856)

$

(930)

$

(32,488)

Loss on discontinued operations

-

2,941

4,042

6,836

Income (loss) from continuing operations

(9,249)

(9,915)

3,112

(25,652)

Adjustments:

Legal settlements and contingencies

-

50

-

700

Stock-based compensation expense

2,845

1,793

8,034

7,404

Depreciation and amortization expense

745

696

3,430

3,678

Other income, net

(765)

(213)

(3,010)

(2,916)

Provision for income taxes

215

340

1,336

1,376

Equity in net (income) of equity method investees

(182)

-

(876)

-

Adjusted EBITDA

$

(6,391)

$

(7,249)

$

12,026

$

(15,410)

Telenav, Inc.

Unaudited Reconciliation of Non-GAAP Adjustments

(in thousands)

Reconciliation of Net Loss to Free Cash Flow

Three Months Ended

Fiscal Year Ended

June 30,

June 30,

2020

2019

2020

2019

Net loss

$

(9,249)

$

(12,856)

$

(930)

$

(32,488)

Loss on discontinued operations

-

2,941

4,042

6,836

Income (loss) from continuing operations

(9,249)

(9,915)

3,112

(25,652)

Adjustments to reconcile income (loss) from continuing operations to net

cash provided by (used in) operating activities:

Change in deferred revenue

(1)

(4,289)

31,316

3,753

60,597

Change in deferred costs

(2)

2,033

(7,443)

(891)

(21,377)

Changes in other operating assets and liabilities

(6,936)

(11,800)

13,690

(12,517)

Other adjustments

(3)

4,031

2,550

7,607

9,846

Net cash provided by (used in) operating activities

(14,410)

4,708

27,271

10,897

Less: Purchases of property and equipment

387

(442)

(933)

(1,398)

Free cash flow

$

(14,023)

$

4,266

$

26,338

$

9,499

  1. Consists of product royalties, customized software development fees, service fees and subscription fees.
  2. Consist primarily of third party content costs and customized software development expenses.
  3. Consist primarily of depreciation and amortization, stock-based compensation expense and other non-cash items.

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TeleNav Inc. published this content on 12 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2020 20:27:02 UTC