Investor Presentation November 2023
Montrose at a Glance
Unique, High Growth
Environmental Solutions
Company
Est. 2012
IPO in 2020
17
Patents
25%
Revenue CAGR (1)
$55M
Adj. Operating
Cash Flow (2,3)
$78M(4)
2023E Consolidated
Adj. EBITDA (5)
~3,500
Employees
723
4)
5)
6)
MONTROSE
ENVIRONMENTAL
$615M(4)
2023E Revenue
27%
Consolidated Adj.
EBITDA CAGR (1,5)
35%
Cross-Selling (6)
Revenue Success
2019-2023E CAGR. For revenue, excludes discontinued service lines, which generated revenues of $17.1 million in 2020, $12.1 million in 2021, and $3.6 million in 2022.
Q3 2023 LTM. Presentation of financial information on a last twelve month ("LTM") basis is not in accordance with GAAP. See the Appendix to this presentation for a discussion of this presentation and how it is derived from our historical amounts reported under GAAP.
Adjusted Operating Cash Flow is a non-GAAP measure and excludes the payment of acquisition-related contingent consideration of $0.6 million in YTD Q3 2023, $19.5 million in YTD Q3 2022, and $19.5 million in 2022. Reported cash from operating activities was $41.5
million in YTD Q3 2023, $8.2 million in YTD Q3 2022, and $20.6 million in 2022. See the appendix to this presentation for a discussion of Adjusted Operating Cash Flow.
Represents midpoint of 2023E outlook range for Revenue and Consolidated Adjusted Adj. EBITDA of $590-$640 million and $75-$81 million, respectively.
Consolidated Adjusted EBITDA is a non-GAAP measure. See the appendix to this presentation for a discussion of this measure, including how it is calculated and the reasons why we believe it provides useful information to investors, and a reconciliation for historical
periods to the most directly comparable GAAP measure.
Cross-selling activity defined as the percentage of total revenue from customers purchasing two or more Montrose services (other than those provided by CTEH) within the same fiscal year.
© 2023 Montrose Environmental Group, Inc. Proprietary. | 4View entire presentation