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Investor Presentation
May 2018
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2
Forward Looking Statements
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 projections regarding future financial performance, our expectations regarding the effects of our strategy which is focused on both growth and operational efficiency, our current expectations with respect to
revenues and Adjusted EBITDA, projections for our second quarter and fiscal year 2018, including our expectations regarding our operating expenses, our plans for our future investments and expansion, our
expectations with respect to consumers’, retailers’ and consumer packaged goods companies’ (CPGs’) future demand and behavior, the continued scaling of the Retailer iQ platform and its ability to grow and perform
and meet the expectations of consumers, retailers and CPGs, as well as the anticipated financial benefits therefrom, the growth potential of Quotient Analytics and the expected benefits, our expectations regarding the
success of the Quotient Media Exchange, our expectations regarding the success of expanding our shopper marketing and media business, our expectations regarding use of shopper data for our solutions, our
expectations regarding our mobile app, our digital print and digital paperless initiatives, our expectations regarding our personalized and targeted promotions and media offerings, our expectations regarding our pricing
strategies, and our efforts with respect to attracting additional retailers and the anticipated benefits from our partner program. The Company operates in a very competitive and rapidly changing environments, and new
risks may emerge from time to time. It is not possible for the Company’s management to predict all risks, nor can it assess the impact of all factors on our business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those contained in any forward-looking statements the Company may make. Forward-looking statements should not be read as guarantees of future
performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available to the
Company’s management at the date of this presentation and its management’s good faith belief as of such date with respect to future events, and are subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to, the Company’s
financial performance, including its revenues, margins, costs, expenditures, growth rates and operating expenses, and its ability to generate positive cash flow and become profitable; the amount and timing of digital
promotions by CPGs, which are affected by budget cycles, economic conditions and other factors; the company’s ability to negotiate fee arrangements with CPGs and retailers; the Company’s ability to maintain and
expand the use by consumers of digital promotions on its platforms; the Company’s ability to effectively manage its growth and to adapt to changing market conditions; the Company’s ability to successfully integrate
acquired companies into its business; and the Company’s ability to develop and launch new services and features. These factors, together with those described in greater detail in the Company’s annual report on Form
10-K filed with the SEC on February 16, 2018 and in the Company’s future quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings made with the SEC, may cause our actual results, performance
or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. The Company disclaims any obligation to update information contained in these forward-looking
statements whether as a result of new information, future events, or otherwise. In addition to the U.S. GAAP financials, this presentation includes 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. The Company considers 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 the Company's management for that
purpose. The use of non-GAAP measures is further discussed in the accompanying press release, which has been furnished to the SEC on Form 8-K and posted on the Company’s website. The press release also
defines our non-GAAP financial measure of Adjusted EBITDA. A reconciliation between GAAP and non-GAAP measures can also be found in the accompanying press release and in the Appendix hereto. A
reconciliation of Adjusted EBITDA, a non-GAAP guidance measure, to a corresponding GAAP measure is not available on a forward-looking basis without unreasonable efforts due to the high variability and low visibility
of certain (income) expense items that are excluded in calculating Adjusted EBITDA.
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Inc. (or its subsidiaries) or their respective owners. Please Do Not Copy or Distribute.
CPGs and Retailers Shift
to Digital Strategies
• CPGs spend ~$225 Billion
annually in marketing
• Integrated, data-driven
solutions are key
• Competitive pressures serve
as catalyst for convergence
3
DIGITAL
E-COMMERCE
OMNI CHANNEL
MEASUREMENT
PROMOTIONS
MEDIA
DATA
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Consumer shift from offline to online, particularly
to mobile
Increased need for personalized and targeted
marketing messages
Retailers driving digital marketing activities due
to increased competitive landscape
CPGs need to drive sales through greater
efficiency and higher ROI
Market Drivers
4
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(or its subsidiaries) or their respective owners. Please Do Not Copy or Distribute.
Large & Growing Market
5
Media Advertising~$7B+ estimated spend in 2018 on
digital advertising, and growing3
CPGs spend $225B+ in MarketingShifting dollars to digital channels brings efficiency and closed-loop measurement
Promotions~300B national offers distributed annually1
~$200B in Trade Promotions spent annually2
(1) Number of CPG coupons distributed based on NCH CPG Coupon Trends Year-End 2016 Report; (2) Trade Budget: Goldman Sachs November 2015 report: Trade Budgets at a Tipping Point; (3) Mobile Media: eMarketer May 31,2016: CPG Advertisers estimated to Spend
~$7+ Billion on Digital Advertising This Year; (4) Shopper Marketing: U.S. Brand Activation Marketing Forecast (2016-2020): Key Findings Report. Association of National Advertisers and PQ Media, April 2016
Shopper MarketingRetailer specific media + promotions~$19B4
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CPGs Accelerate Budget Shift to Digital
1: NCH Mid-Year 2017 Coupon Facts
6
Total Digital Savings On Our Network (in Billions)
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$3.6B
$5.4B
~80%1 of all CPG
redemptions still come
from paper coupons
Delivered +50%
more savings in 2017
2016 2017
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Digital Growth Drives Scale
7
Broad Retailer Reach
• National Coverage
• Representing ~$400B of CPG
retail sales
• Multi-channel: grocery, drug
dollar, mass and club retailers
• Rich demographic, shopper data
Deep CPG Relationships
• ~700 Customers
• ~2000 brands
Shopper Data Drives Engine
• 60M+ shoppers registered on
programs powered by Retailer iQ
• ~20M monthly average visitors to
Coupons.com mobile web + app
• Represents ~50% of U.S
households
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Our Partners
8
CPGs Retailers
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Inc. (or its subsidiaries) or their respective owners. Please Do Not Copy or Distribute.
Powerful Network Effect
9
Demandfor digital coupon
by consumers
Supplyof digital
coupons/budgets
from CPG’s
Demand Driven From:• RIQ implementations
• Retailer Marketing drives users to digital
coupon programs
• Coupons.com app & mobile web
Supply Driven From:• CPG budget shift from offline to digital
• Better ROI on marketing spend
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Quotient Solutions
10
Brands & Retailers
Shoppers
Quotient Insights, Analytics & Measurement
Drive Sales
Quotient PromotionsDigital Coupons / Targeted Offers /
Digital Circular / Specialty Retail
Quotient MediaQMX / Shopper Marketing / Programmatic / Brand
Pages / Video Ads
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Quotient Promotions - Retailer iQ
11
Real-time
Email/SMS
Engagement
Digital
Offers
Digital
Shopping List
Digital
Receipts
Digital
Circular
Targeted
Media
Reporting &
Analytics
Personalization… Personalization…
Data on Shoppers Transactions/Digital Use, Products, Promotions, Pricing
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Retailer iQ Drives Sales for Retailers and Brands
12
CPGsRetailers
3XAverage return on
promotional spend on
digital coupons2
+11%Average lift in sales from
shoppers who join their
digital programs1
Source: 1 Quotient Internal Reporting; 2 Quotient Internal Reporting (study of 50+ offers across categories at RiQ retailers from December 2016 to February 2017. Study based on comparison between matched panel of Activators and Non-Activators)
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Inc. (or its subsidiaries) or their respective owners. Please Do Not Copy or Distribute.
Quotient Internal Reporting (2018), all measurement is test versus control; 2 Quotient Internal Reporting (2018), all measurement is test versus control
Driving Trial Frozen Foods Brand
Strategy: New Brand Launch
Increasing Buy RateFeminine Hygiene Brand
Strategy: Trial & Loyalty
40%
Incremental
Buyers
40%
Incremental
Sales
44%
Incremental
Units
37%
Incremental
Buyers
Targeted Promotional
Offers Increase in Targeted
Offers Over Q1 2017
5xIn Q1 2018
# of targeted campaigns
from
3x# of brands
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~100M Verified
Audience Reach
Shopper Data
Point of Sale (POS)
Quotient purchase intent
Quotient Media - QMX
14
Powerful Data-Driven
Media SolutionBasket
Data
Purchase
History
Geography
Purchase
Intent
Behaviors
Digital
Footprint
Audience
National, retailer & targeted
Engagement
High quality media
& digital promotions
Measurement
Store sales & ROI
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QMX: How It Works
15
Tech: Media Execution
1st Party InventoryQuotient Owned & Operated
(Coupons.com)
2nd Party InventoryRetailer Owned & Operated
3rd Party InventoryAudience & non-O&O Contextual
Ad Delivery
Ad Environment
Brand Safety
Viewability
Verified
Optimization
Ad Delivery
Ad Engagement
Foot Traffic
Sales Lift | ROAS
Viewability
Tech: Measurement
1st Party
Media iQ
Promo iQ
Brand Equity
Value Content
Event Promotion
Store Finders/Maps
eCommerce
Brand pages
Personalization
In-stock availability
Environmental triggers
Retail branding
Social
Retailer Exclusive
Content/Creative ExperiencesAudience Data Targeting
1st Party Data
3rd Party Data
2nd Party DataRetailer POS data
Behavioral | Demo | Geographic
3rd Party
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QMX Powers Albertsons Performance Media
16
The combined power of retail and technology drives precise & effective sales growth
+
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Quotient Analytics
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18
WhyQuotient?
ConsumersPlan, shop and save on favorite
brands at preferred stores
Personalized, relevant experience
CPGsMulti-channel, national shopper reach
Drives efficient marketing spend and
profitable sales
RetailersProvides digital platform to reach and
engage shoppers
Drives increased sales in competitive
retail environment
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Financial Highlights
19
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Inc. (or its subsidiaries) or their respective owners. Please Do Not Copy or Distribute.
20
Business
Model
CPG $$$
GROSS MARGIN
PROMOTIONS MEDIA
PARTNERO&O RETAILERO&O
DISPLAY &
IMPRESSIONSTRANSACTIONS
TAC / DIST FEEDIST FEE
TOTALTOTAL
GROSS PROFIT
OTHER COSTS
PAID REVENUE SHARE &
OTHER 3RD PARTY FEES
CONSUMER ENGAGEMENT
NETWORK DISTRIBUTION
PLATFORM SOLUTION
REVENUE
PUBLISHER
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$57.4 $58.4 $58.1 $63.4 $63.8
$15.2 $16.1 $23.9$29.7 $23.0
Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018
Quarterly Trend ($M)
Promotions Media
Revenue
21
11% y/y
Revenue $72.6 $74.5 $82.0 $93.1 $86.8
QoQ -4% 3% 10% 14% -7%
YoY 10% 11% 23% 23% 20%
51% y/y
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Revenue Split
22
73% of total revenue growing +36%
Promotion revenue from CPGs, which excludes Specialty Retail, grew 19% over Q1’17
$M Q1'17 Q2'17 Q3'17 Q4'17 FY Y/Y %
% of
Total Q1'18 Y/Y %
% of
Total
Digital Print 15.4 17.2 16.6 17.3 66.5 -13% 21% 15.8 3% 18%
Retailer iQ 31.2 30.6 33.0 35.7 130.5 57% 41% 40.2 29% 47%
Others 2.0 2.4 2.2 2.2 8.7 1% 2% 1.7 -15% 2%
Total Promo Revenue from CPGs 48.6 50.2 51.8 55.2 205.7 22% 64% 57.7 19% 67%
Specialty Retail 8.8 8.2 6.3 8.2 31.5 -28% 10% 6.1 -31% 7%
Total Promotion 57.4 58.4 58.1 63.4 237.2 12% 74% 63.8 11% 74%
Media 15.2 16.1 23.9 29.7 84.9 35% 26% 23.0 51% 26%
Total Revenues 72.6 74.5 82.0 93.1 322.1 17% 100% 86.8 20% 100%
20182017
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Growth In Top 10 CPG Customers
23Based on 2017 Top 10 CPGs (U.S. revenue only)
15%
17%
19%
21%
23%
25%
27%
29%
Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018
Top 10 CPGs as a % of Total Promotions Revenue
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Transactions
24
• Q1 YoY growth of 29%, driven by
40% growth in digital paperless,
offset by 10% decline in digital
• Volume of transactions drive
scale and demand on platform
Transactions Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018
QoQ 15% 0% 24% -2% 6%
YoY 48% 48% 45% 40% 29%
795 793
987 971 1,027
Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018
(M)
Digital Print Digital Paperless
1.0B
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Operating Expenses
25
• QoQ slight improvement in Non-
GAAP OpEx expense due to
continued operating efficiencies and
cost management, offset by FICA
reset for 2018 and seasonally lower
revenue in Q1.
• Q1 2018 Non-GAAP opex was
$39.4M, a decrease over Q4 and Q1
2017
• Significant YoY margin improvement
due to 20% revenue growth, coupled
with continued cost management and
efficiencies
Non-GAAP operating expenses exclude stock-based compensation, any
net change in fair value of escrowed shares and contingent consideration,
amortization of acquired intangible assets, enterprise resource planning
“ERP” software implementation costs, acquisition related costs, and
restructuring charges. A reconciliation table of the period presented can
be found in the Appendix section of this presentation.
Q1 FY18 GAAP Op Ex: $55.2M compared to $44.5M in Q4 FY17
Q1 FY18 Non-GAAP Op Ex: $39.4M compared to $40.1M in Q4 FY17
31%25% 25%
15%
11% 12%
10%
7% 8%
56%
43%45%
Q1-2017 Q4-2017 Q1-2018
Non-GAAP
Sales & Marketing Research & Development Gen'l and Administrative
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Adjusted EBITDA
26
Adjusted EBITDA, a non-GAAP financial measure, is net loss adjusted for
stock-based compensation, change in fair value of escrowed shares and
contingent consideration, net, other (income) expense net, provision for
(benefit from) income taxes, depreciation, amortization and other, which
includes: enterprise resource planning ("ERP") software implementation
costs, certain acquisition related costs and restructuring charges. A
reconciliation table of the periods presented can be found in the Appendix
section of this presentation.
• Q1 FY18 increased 55% YoY
primarily based on increased
revenues and balanced expense
approach
• Margin expansion expected to build
throughout the year
$7.7
$13.0 $12.5
$13.9
$11.9
Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018
Margin 11% 17% 15% 15% 14%
($M)
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27
Guidance
FY2018
Q2 Full Year
Low High Low High
Revenue ($M) $87.0 $90.0 $379.0 $394.0
YoY Growth 17% 21% 18% 22%
Q2 Full Year
Adjusted EBITDA ($M) $12.0 $14.0 $65.0 $73.0
Margin 14% 16% 17% 19%
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Inc. (or its subsidiaries) or their respective owners. Please Do Not Copy or Distribute.
Thank You
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Inc. (or its subsidiaries) or their respective owners. Please Do Not Copy or Distribute.
AppendixScreen Shots & Reconciliation Tables
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Digital Drives Efficiency in Trade Spend
Offline Non-Targeted Digital & Targeted
Customer Type $ Spent# of Boxes
Sold$ Spent
# of Boxes
Sold
Always buys Flakes $1 1 $0 1
Sometimes buys Flakes $1 1 $0.50 1
Sometimes buys Flakes $1 1 $0.50 1
Never buys Flakes $0 0 $2 1
Total $3 3 $3 4
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31
Coupons.com
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32
Digital Coupons
in Retailers’
Marketing and
Merchandising
Programs
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33
Personalized Email
Marketing
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34
Personalized Digital
Circular
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35
Use screen shots from Risa
Shopper Marketing
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36
Reconciliation of Non-GAAP Operating Expense
Q1 FY 17 Q4 FY 17 Q1 FY 18
Revenues 72,579$ 93,093$ 86,766$
Sales and marketing expenses 23,837 25,377 23,830
(less) Stock-based compensation (1,332) (1,763) (1,600)
(less) Amortization of acquired intangible assets — (101) (99)
(less) Restructuring charges — — (608)
Non-GAAP Sales and marketing expenses 22,505$ 23,513$ 21,523$
Non-GAAP Sales and marketing percentage 31% 25% 25%
Research and development 13,120 11,860 12,626
(less) Stock-based compensation (2,011) (2,059) (1,827)
(less) Restructuring charges — — (360)
Non-GAAP Research and development expenses 11,109$ 9,801$ 10,439$
Non-GAAP Research and development percentage 15% 11% 12%
General and administrative expenses 11,893 12,726 11,392
(less) Stock-based compensation (3,962) (3,585) (3,829)
(less) ERP software implementation costs (158) (199) (49)
(less) Acquisiton related costs (714) — —
(less) Restructuring charges — (2,125) (115)
Non-GAAP General and administrative expenses 7,059$ 6,817$ 7,399$
Non-GAAP General and administrative percentage 10% 7% 8%
Non-GAAP Operating expenses* 40,673$ 40,131$ 39,361$
Non-GAAP Operating expense percentage 56% 43% 45%
QUOTIENT TECHNOLOGY INC.
RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
(Unaudited, in thousands)
* Non-GAAP operating expenses excludes stock-based compensation, amortization of acquired intangible assets,
restructuring charges, acquisition related costs, and enterprise resource planning ("ERP") software implementation
costs.
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37
Reconciliation of Net Loss to Adjusted EBITDA
Q1 FY 17 Q2 FY 17 Q3 FY 17 Q4 FY 17 Q1 FY 18
Net income (loss) (2,674)$ (5,758)$ (10,827)$ 4,182$ (11,357)$
Adjustments:
Stock-based compensation 7,756 8,066 8,480 7,950 7,796
Depreciation, amortization and other (1)
5,404 6,608 5,496 6,883 5,619
Change in fair value of escrowed shares and contingent consideration, net (2,585) 3,900 9,700 (5,500) 7,350
Interest expense — — — 1,589 3,308
Other (income) expense, net (127) (134) (276) (391) (938)
Provision for (benefit from) income taxes (97) 270 (107) (768) 102
Total adjustments 10,351$ 18,710$ 23,293$ 9,763$ 23,237$
Adjusted EBITDA (1)
7,677$ 12,952$ 12,466$ 13,945$ 11,880$
Adjusted EBITDA Margin (2)
11% 17% 15% 15% 14%
(2) Adjusted EBITDA margin is the ratio of Adjusted EBITDA and Revenues.
QUOTIENT TECHNOLOGY INC.
RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA AND TRANSACTION DATA
(Unaudited, in thousands)
(1) Adjusted EBITDA, a non-GAAP financial measure, is net income (loss) adjusted for stock-based compensation, change in fair value of escrowed shares and contingent
consideration, net, interest expense, other (income) expense, net, provision for (benefit from) income taxes and depreciation, amortization and other, which includes: enterprise resource
planning ("ERP") software implementation costs and certain acquisition related costs of $0.2 million and $0.7 million, respectively, during Q1 FY 17; ERP software implementation costs,
certain acquisition related costs and restructuring charges of $0.4 million, $0.8 million and $1.3 million, respectively, during Q2 FY 17; ERP software implementation costs and certain
acquisition related costs of $0.5 million and $0.4 million, respectively, during Q3 FY 17; ERP costs and restructuring charges of $0.2 million and $2.1 million, respectively, during Q4 FY
17; and ERP software implementation costs and restructuring charges of $0.05 million and $1.2 million, respectively, during Q1 FY 18.
Copyright © 2018 Quotient Technology Inc. All Rights Reserved. Quotient, the Coupons.com logo and the Quotient logo are trademarks of Quotient Technology Inc. All other trademarks,
service marks, logos, and company or product names are the property of Quotient Technology Inc. (or its subsidiaries) or their respective owners. Please Do Not Copy or Distribute.
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