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Investor DayNovember 19, 2020
2Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
QUOTIENT
INVESTOR DAY
2020
Christine MarchuskaDirector of Investor Relations
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Forward Looking Statements
Forward Looking Statements and Estimates
This presentation and the accompanying oral presentation contain “forward-looking” statements that are based on our
management’s beliefs and assumptions and on information currently available to management, including our current
expectations with respect to revenue compound annual growth rate (CAGR), non-GAAP gross margin dollars CAGR,
and Adjusted EBITDA CAGR; the Company's ability to grow revenues, non-GAAP gross margin dollars, non-GAAP
gross margins, non-GAAP operating expenses, Adjusted EBITDA, non-GAAP operating margins and non-GAAP cash
position; the Company’s operating model including its non-GAAP three-year targets; the Company’s gross margin
improvement opportunities; operating expense scalability; developments of Company’s solutions, partnerships and
product launches, including national rebates; the Company’s ability to manage its business and liquidity during and
after the COVID-19 pandemic; CPGs’ plans to reduce spending in offline solutions and increase spending on digital
solutions; growth drivers of revenue; estimated serviceable market size expansion, including Company’s ability to
increase its share of national and shopper marketing budgets of CPGs; growth in Quotient Promotions, Retail
Performance Media (“RPM”) and eCommerce businesses; increasing the number of retailers to our retailer network;
the effectiveness of our cost control measures; growth of Quotient’s Digital Out Of Home offering; product mix; the
future demands and behaviors of consumers, retailers and CPGs, particularly in light of the ongoing effects of the
COVID-19 pandemic; the future demand and behavior of consumers, retailers and CPGs; and the Company's future
investments and growth and ability to leverage its investments and operating expenses. Forward-looking statements
are based on our current plans, objectives, estimates, expectations and intentions and inherently involve significant
risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such
forward-looking statements as a result of these risks and uncertainties, which include, without limitation, our ability to
generate positive cash flow and become profitable; the amount and timing of digital marketing spend by CPGs and
shifts in CPG spend to digital; our ability to timely launch products; our ability to scale our solutions and platforms; our
ability to adapt to changing market conditions and privacy and data regulations, including our ability to adapt to
changes in consumer habits and consumer data privacy concerns; the impacts of the ongoing COVID-19 pandemic,
which may continue to significantly impact our business, plans and results of operations, as well as the value of our
common stock; our ability to negotiate fee arrangements with CPGs and retailers; our ability to maintain and expand
the use by consumers of promotions and offers on our platforms; our ability to execute our media strategy; our ability
to effectively manage our growth; the performance of our various solutions; our ability to successfully integrate
acquired companies into our business; our ability to develop and launch new services and features; our expectations
regarding growth drivers; and other factors identified in our filings with the Securities and Exchange Commission (the
"SEC"), including our Quarterly Report on Form 10-Q filed with the SEC on November 6, 2020 and future filings and
reports by us. We disclaim any obligation to update information contained in these forward-looking statements whether
as a result of new information, future events, or otherwise and does not assume responsibility for the accuracy and
completeness of the forward-looking statements.
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
This presentation and the accompanying oral presentation also contain estimates and other statistical data made by
independent parties and by us relating to market size and growth and other data about our industry. This data involves
a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In
addition, projections, assumptions and estimates of our future performance and the future performance of the markets
in which we operate are necessarily subject to a high degree of uncertainty and risk.
Use of Non-GAAP Financial Measures
In addition to the U.S. GAAP financials, this presentation and the accompanying oral presentation include certain non-
GAAP financial measures. The non-GAAP measures have limitations as analytical tools and you should not consider
them in isolation or as a substitute for an analysis of our results under U.S. GAAP. There are a number of limitations
related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other
companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their
performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison.
We consider these non-GAAP financial measures to be important because they provide useful measures of the
operating performance of the company, exclusive of unusual events or factors that do not directly affect what we
consider to be our core operating performance and are used by our management for that purpose. A reconciliation
between GAAP and non-GAAP measures can be found in Appendix hereto. Reconciliations of Adjusted EBITDA, non-
GAAP gross margin, Non-GAAP operating expenses, non-GAAP operating margin, and non-GAAP guidance
measures to corresponding GAAP measures are not available on a forward-looking basis without unreasonable efforts
due to: (i) the high variability and low visibility of certain (income) expense items that are excluded in calculating
Adjusted EBITDA, (ii) the high variability and low visibility of certain items that are excluded in calculating non-GAAP
gross margin, (iii) the high variability and low visibility of certain items that are excluded in calculating non-GAAP
operating expenses, and (iv) high variability and low visibility of certain items that are excluded in calculating non-
GAAP operating margin.
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Steven BoalChief Executive Officer
QUOTIENT INVESTOR DAY 2020
Welcome
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Focus over past year:
● Sustainable growth
● Retailer pipeline
● Operational excellence
● Navigating the pandemic
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Operational Improvements
Growth Drivers
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Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
The Evolving Industry
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Strategically PositionedAgenda
QUOTIENT INVESTOR DAY 2020
3 Year Financial Plan5
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Scott Raskin
President
Pam Strayer
Chief Financial Officer
David Johnson
Senior Vice President,
Sales
Natalie Weymouth
General Manager,
Health and Beauty Aids
(HBA) Vertical
Jamie Clarke
Vice President,
Retail
Steven Boal
Chief Executive Officer
Chairman
Today’s Presenters
QUOTIENT INVESTOR DAY 2020
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs. 6
7Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Quotient Network Our Business is Differentiated, Scalable and Capital Efficient
100% of Fortune 500 CPGswith opportunity
for expansion
across and down
Strategically Positionedwith first and second party
data to benefit CPGs
Retailers & Shoppers
Capital efficient modelwith a focus on growth in
gross profit dollars drives
significant operating
leverage & cash
generation
Benefiting from significant market shift
& transformation
into digital
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$4.3BOther
$103.7BTrade
$20.7BShopper
$51.3BDigital
$16.4BConsumer
Promotion
$28.6BTraditional Ad
Source: Cadent 2020 Marketing Spending Industry Studies
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
2020E
CPGs Spend
~$225B Annually
Budgets continue
to shift & transform
into digital
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9Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Spend is Shifting to the Bottom of the Marketing Funnel Shopper dollars
(retailer platforms)
National dollars
(multi-retailer scale)
BRAND AWARENESS
IDENTIFIABLE SHOPPERS
REGISTRANTS/PREFERENCES
PURCHASE
LOYALTY
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Growth in TAM is Highly Correlated to
Growth in eCommerce
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Digital Engagement Grows TAM
● Of $225B marketing spend, a majority ($117B) is
addressable on Quotient Network as spend shifts
to digital
● Grocery eCommerce and digital engagement
drives the shift to digital and a larger TAM for
Quotient to address
● Grocery eCommerce projected to grow
from 10% in 2020 to ~17% in 2023*
*Source: eGrocery’s New Reality: The Pandemic’s Lasting Impact on U.S. Grocery Shopping Behavior
**Estimated TAM rounded to nearest billion dollars using the formula: ($225B total US CPG marketing
spend less $103.7B Trade budget less $4.3B Other budget) x (forecasted eCommerce %)
2020 2021-2022 2023
17%
13.5%
10%
$12B
$16B
$20B
CPG TAM Growth**(in Billions)
Digital
Engagement
$B
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Growth in SAM is also Highly Correlated to
Growth in eCommerce
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Digital Engagement Grows SAM ● SAM = TAM x Current Quotient market share on
network (assumes no retailer additions)
● We currently have 21%* of US Grocery retailer
market share on Quotient Network
● Digital engagement grows SAM over time
● Adding retailers or expanding market share of
existing retailers further grows SAM but that upside
is not reflected here2020 2021-2022 2023
17%
13.5%
10%
$2.5B
$3.3B
$4.2B
CPG SAM Growth**(in Billions)
Digital
Engagement$B
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*Source: UBS January 2020 Report: U.S. Hardlines & Grocery Retail
**Estimated SAM based on estimated TAM on prior slide multiplied by estimated US Grocery
retailer market share on quotient network of 21%
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3 Year Outlook - Capturing the Opportunity
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Revenue CAGR of 15% Without Retailer Expansion
● Assumes no new retailers over next three years
● Primary growth drivers include:
○ National Promotions & Media (FSI & longtail)
○ Shopper Marketing (including RPM)
*Revenue CAGR of 20% With Minimal Retailer Expansion
● Assumes two new retailers in 2021
● Average size retailer contributions
● ~$730M Quotient 2023 Projection
● As we add retailers we will update our 3 year outlook
$4.2B2023 SAM
Quotient
2023
~$640M
~$730M*
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Estimated SAM based on estimated TAM on slide 11 multiplied by estimated US Grocery retailer market share on quotient
network of 21%
2023 revenues shown of $640M and $730M represent forecasted numbers using different scenarios for Quotient’s growth.
13Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Compelling 3 Year Investment Thesis
● Large uncaptured opportunity to shift off-line
spend to digital spend
● 15% Revenue CAGR - estimating mix of net revenue
● 20% Non-GAAP Gross Margin Dollars CAGR
● 41% Adjusted EBITDA Dollars CAGR
Gross Margin $(in Millions)
2020F 2023F
$M
$195
$330
Adjusted EBITDA(in Millions)
2023F2020F
$M
$41
$115
Revenue(in Millions)
2020F 2023F
$M
$424
$640
*Minimal Network Expansion Scenario
● 20% Revenue CAGR
● 24% Non-GAAP Gross Margin Dollars CAGR
● 52% Adjusted EBITDA Dollars CAGR
$143*
$374*
$730*
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2020 forecasts represent forecasted annual non-GAAP results using September 30, 2020 year-to-date actual results + mid-point of our
guidance for Q4 2020. 2023 forecasts represent forecasted numbers using different scenarios for Quotient’s growth.
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Operations
Scott RaskinPresident
● Improved culture
● Streamlined sales operations
and delivery
● Greater visibility and new go-to-
market initiatives
QUOTIENT INVESTOR DAY 2020
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs. 14
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Improved Culture:
Retain and Attract Talent
Transforming Shopping
to Make Life Better
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
The world of shopping is changing rapidly. At Quotient,
we are leading that transformation with vision and
purpose—to make life better for shoppers, our
customers and our employees.
Integrity
Customer Experience
Teamwork
Sustainable Growth
Innovation
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Operational Maturity
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States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
CustomerSuccess Sales Operations
Integrated to streamline and drive efficiency
● Pipeline Management
● Forecasting
● Delivery
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Marketing Drives Increased Visibility
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs. 17
18Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Expanding CPG Customer Base
● Sales and Customer Success alignment
● Proactive demand generation
● Best in class offerings
● Largest national retailer network
● Drives volume and unit sales
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Evolving
Industry
David JohnsonSenior Vice President, Sales
QUOTIENT INVESTOR DAY 2020
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States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
● Secular shift to digital provides tailwinds
for growth
● Pandemic accelerates grocery eCommerce
by at least 3 years*
● CPGs advertise where the shoppers are
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*Source: Mercatus, The Evolution of the Grocery Customer 2020
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Source: eMarketer, US CPG Digital Ad Spend 2020 (Aug. 2020)
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
CPG Digital Advertising
16.4% Growth Forecasted for 2021
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Source: eGrocery’s New Reality: The Pandemic’s Lasting Impact on U.S. Grocery Shopping Behavior
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
“Shoppers are satisfied with online purchase
options, but demand more customization and
personalization. Fifty-eight percent of shoppers
are satisfied with the online shopping capabilities
offered by their preferred brick-and-mortar retailer.
They express high satisfaction with payment and
fulfillment options, and would like more functionality
added to online promotions and advanced
product search.”
eCommerce Demands
Shift to Digital
Online grocery will account for 21.5% of total grocery sales by 2025
an estimated $250 billion, which is a more than 60% increase
over pre-pandemic estimates.
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Source: eMarketer, US CPG Digital Ad Spend 2020 (Aug. 2020)
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Digital Ad Share
Google & Facebook represent 61%
of digital ad spend
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23Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Amazon’s % of total retail sales:
Source: Emarketer: US eCommerce by Category 2020 (July 22, 2020)
Retailers Have a Close Consumer Relationship
Google and Facebook have traffic
but they are not retailers
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16.8% RPM
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
The Quotient NetworkCPGs Advertise Where the Shoppers Are
28.8%
10.7%
0.9%
3.1%(Target)
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Source: Nielsen data: 52 weeks ending 11/13/2020
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of customers are comfortable
exchanging their private information
with grocery stores for relevant offers
of in-store sales will
be influenced by
digital in 2021
81% 90%
Opportunity for Data-Driven Grocers
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Source: Credit Suisse, Advertising Week Takeaways October 2019
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26Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Expanding Retailer Network
New Retailers
+
New Verticals
+
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27Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Quotient’s Food Retail Market Share: 21%
Source: UBS January 2020 Report: U.S. Hardlines & Grocery Retail
Quotient Retailers
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Digital
Promotions
Natalie WeymouthGeneral Manager,
Health and Beauty Aids (HBA)
Vertical
QUOTIENT INVESTOR DAY 2020
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
GROWTH IN NATIONAL
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29Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Spending every dollar efficiently
Driving big measurable impact with one campaign
Proving results and seamlessly optimizing spend
Replacing the FSI with digital promotions
$
Brand teams are striving to build brand health
while driving efficient volume
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National Promotions
Moves Unit Sales
30Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
National Promotions
● Budgets invested in traditional FSI are
shifting to digital
● Smaller CPGs excluded from FSI are taking
advantage of digital
● Supports existing and drives new retailer
partnerships to Quotient platform
● National budgets are integral to marketing
ecosystem
30
31Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Success in National Promotions
Sponsored Product SearchNational Rebates
Loyalty Offers
Digital-Out-of-HomeTargeted Offers and In-Lane
31
32
Digital Redemptions
Are Increasing
Digital channels bring
efficiency + consumers on digital
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Source: WSJ article, Coupon-Clipping Fades Into History as Covid-19 Accelerates Digital Shift (9/1/20)
ClippedDigital coupons surpassed paper leafletsfor the first time amid the pandemic.
Share of Product Coupon
Redemptions
Share of Coupon Redemptions,
First Half of Year
32
33
Retail
Performance
MediaJamie ClarkeVice President,
Retail
QUOTIENT INVESTOR DAY 2020
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
GROWTH IN SHOPPER
33
34
Source: eMarketer, Retail Media Networks 2019
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Quotient checks all the boxes
RPM Delivers
34
35Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Dollars Shifting to Retail Media
Source: Emarketer: Merkle, The Growth of eRetail, 2020
of CPGs are planning to move
more marketing dollars toretail media networks
85% 52%
of CPGs plan to do so in the next year
35
36
Source: Merkle, The Growth of Retail Report, 2020
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
“Retailers have identified digital media
networks as a critical growth area to create
more personalized experiences for their
customers. The primary opportunity, as
noted in the report, lies in partnerships
as retailers leverage technology and
relationships with CPG brands.”
Retailers Benefit
from Partnerships
Key Features Advertisers Want in a Retail Media Network:
36
37
Three Year
Financial Plan
QUOTIENT INVESTOR DAY 2020
Pam StrayerChief Financial Officer
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
● Improved internal process & transparency
● Large market opportunity as offline spend
shifts to digital
● Long-term financial model
37
38
Growth in TAM is Highly Correlated to
Growth in eCommerce
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Digital Engagement Grows TAM
● Of $225B marketing spend, a majority ($117B) is
addressable on Quotient Network as spend shifts
to digital
● Grocery eCommerce and digital engagement
drives the shift to digital and a larger TAM for
Quotient to address
● Grocery eCommerce projected to grow
from 10% in 2020 to ~17% in 2023*
*Source: eGrocery’s New Reality: The Pandemic’s Lasting Impact on U.S. Grocery Shopping Behavior
**Estimated TAM rounded to nearest billion dollars using the formula: ($225B total US CPG marketing
spend less $103.7B Trade budget less $4.3B Other budget) x (forecasted eCommerce %)
2020 2021-2022 2023
17%
13.5%
10%
$12B
$16B
$20B
CPG TAM Growth**(in Billions)
Digital
Engagement
$B
38
39
Growth in SAM is also Highly Correlated to
Growth in eCommerce
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Digital Engagement Grows SAM ● SAM = TAM x Current Quotient market share on
network (assumes no retailer additions)
● We currently have 21%* of US Grocery retailer
market share on Quotient Network
● Digital engagement grows SAM over time
● Adding retailers or expanding market share of
existing retailers further grows SAM but that upside
is not reflected here2020 2021-2022 2023
17%
13.5%
10%
$2.5B
$3.3B
$4.2B
CPG SAM Growth**(in Billions)
Digital
Engagement$B
39
*Source: UBS January 2020 Report: U.S. Hardlines & Grocery Retail
**Estimated SAM based on estimated TAM on prior slide multiplied by estimated US Grocery
retailer market share on quotient network of 21%
40
Revenue Growth Scenarios
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States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Today’s platform lays foundation for
2023 Opportunity in Retail Performance
Media and National Promotions
Without adding any additional retailers
revenue CAGR is estimated to be 15%
over three years
*Minimal retailer expansion in 2021and
2022 has potential for additional
$90M resulting in a 20% CAGR
over three years
$4.2B2023 SAM
Quotient
2023
~$640M
~$730M*
Quotient
2020
~$424M
$2.5B2020 SAM
40
Estimated SAM based on estimated TAM on slide 11 multiplied by estimated US Grocery
retailer market share on quotient network of 21%
$424M Forecasted annual Quotient 2020 Revenue represents September 30, 2020 year-to-date actual revenues +
$120M revenues for Q4 2020, using the mid-point of our guidance range. 2023 revenues shown of $640M and $730M
represent forecasted revenue numbers using different scenarios for Quotient’s growth.
41 41
Revenue 15% - 20%
Non-GAAP Gross Margin $ 20% - 24%
Adjusted EBITDA $ 41% - 52%
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States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Scalable Operating Model
Leverage in our operating
model drives higher CAGR in Adjusted EBITDA
3 Year CAGR
41
Low end of the range represents estimates based on no additional retailers added to the network. Top end of the
range represents estimates using the minimal network expansion scenario
42
Gross Margin Improvement Opportunities
42
Improved Self-Service Higher Mix of
National RevenuesCapture National marketing spend
with higher margin profiles
More efficient customer
engagement & unlock Agency
relationships with large National
marketing spend to deploy
Continued automation where possible &
location strategy that creates centers
of excellence outside of California
Increased Automation & COE
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs. 42
43
Operating Model -Non-GAAP 3 Year Targets
43
Revenue Recognition Mix Will Impact Margins
Net Recognition Grows to
9% of Revenue by FY23
A higher mix of net revenue will not impact
GM $ CAGR but will impact GM %: Higher
net revenue will raise GM% and will
lower top line revenue CAGR.
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Revenue
Non-GAAP Gross Margin
Non-GAAP OPEX
Non-GAAP Operating Margin
Adj EBITDA
100% 100% 100%
52% 45% 46%
39% 36% 38%
13% 9% 8%
15% 10% 10%
100%
51% - 52%
33% - 35%
17% - 19%
18% - 20%
FY19FY18 FY20F* FY23F
Target Model
- Expansion Scenario
*Based on Q3 YTD Actuals + Q4 Estimates using Q4 guidance ranges.
43
44
Example: Mix of Net Revenue Recognition and Related Impact
44
Revenue Recognition Mix
Can Impact Margin % but Not Margin $
Net Recognition Grows to
9% of Revenue by FY23
A higher mix of net revenue will not impact
GM $ CAGR but will impact GM %: Higher
net revenue will raise GM% and will
lower top line revenue CAGR.
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
$678 $640 $608
17% 15% 13%
$330 $330 $330
48.5% 51.5% 54.2%
$115 $115 $115
17.0% 18.0% 18.9%
9%4% 14%
Revenue (FY23)
Revenue 3-Year CAGR
Example: % of Revenue
recognized as net in FY23
Non-GAAP Gross Margin (FY23)
GM %
Adj EBITDA (FY23)
Adj EBITDA %
44
45
Operating Expense Scalability
45Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
● Inside Sales
● Customer Success
● National vs Shopper Split
● Marketing Investment and Effectiveness
● Strong business partnering organization to drive better
decision-making and more accountability
● Continued expansion to lower cost locations outside of California
● Disciplined controls over cash and costs including strategic sourcing, travel, collections
● Enterprise scale automation including Netsuite, SFDC, Cloud Infrastructure,
Concur, Workday
Improved
GTM Execution
Improved
Organizational
Process
45
46Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Cash Flow Generation
● Significant use of cash for M&A largely behind us
● Up to $25M payout possible early 2022 for Ubimo
● Existing convertible debt of $200M matures
Dec 2022
● Capex of approximately 2% - 3% of revenue
● Positive non-GAAP net cash position expected
to build over time
Non-GAAP Net Cash Position(in Millions)
2023F2020F
$M
$134
$12
$155*
*Expansion scenario
46
47Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Capital Allocation
Strong cash flows will provide flexibility and allow for:
● Pay down or refinance of convertible debt
● Opportunistic M&A
● Opportunistic share buy back
● Return to stockholders
47
48Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
Quotient Network Focused on Delivering Value for our Shareholders
Strategically AlignedStrong Core Businesswith additional significant growth
drivers to support long term
financial targets & goals
to benefit from market
tailwinds & opportunities
with significant operating
leverage & cash generation
Capital Efficient Model
48
49 49
Appendix
Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs.
50Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs. 50
51Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs. 51
52Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs. 52
53Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs. 53
54Copyright © 2020 Quotient Technology Inc. All Rights Reserved. Quotient, the Quotient logo, the Coupons.com logo, the SavingStar logo, Crisp logo, Elevaate, QMX, Quotient Retailer iQ, Ahalogy and Ubimo are trademarks or registered trademarks of Quotient Technology Inc. and its subsidiaries in the United
States and other countries. Other marks are the property of their respective owners. Confidential and Proprietary Information of Quotient Technology Inc. Please Do Not Copy or Circulate. We do not make any guarantees regarding outcomes that this product will meet your company’s unique needs. 54