May 7, 2020 Announcement Telenav Q3 FY20Earnings © 2019
resultsmay be materiallydifferent from whatthe Companyexpects. beliefsandassumptions only asof the datemade. You shouldreview company’sthe SEC filings carefullyandthe with understa uncertainties,you shouldplacenot unduereliance on these forward andotherfilings withU.S. the SecuritiesandExchange whichare Commission (“SEC”), availableat SEC’sthe website at against them;.The Company discusses theserisks ingreater detail in“Risk Factors” andelsewhere in Formits 10 andbenefit from those initiatives;the potentialthatthe Company may benotto able realize its deferredtax assetsand may warranty claims, andthe impacton consumer perception of its brand; Company’sthe to ability perform underinitiativesits w newproduct releases andvehicle production bythe Company’s automotive customers, includinginventory procurement and fulfil suchas Apple CarPlay and Android Auto; Company’s the continuedreporting of andlosses operating expenses in excess of expec reductionsin demand for automobiles;potential impacts of automobile manufacturersandones tier including competitive capab substantialportion of its revenueandthe impact of labor stoppageson thoseautomobile manufacturers’ and tierones’ abilit of revenue,includingunderGrabthe Transaction;the Company’s dependenceon a limitednumber of automobile manufacturersan internalcontrol over financialreporting anddisclosures, andtimelydemonstrate suchmitigation, includingas itmay relate includingCompany’sthe products; adoptionby vehicle purchasers of Scout GPS Link;the Company’sto ability remediate its ma announcementregarding Google Automotive the Services; Company’sto ability achieve designadditionalwins anddelivery the d contracts for currentandnew generation of productsits existingwith automobile manufacturersandones, tier particularly F America over theterm; near impact the of tariffs on sales of automobilesin United the States otherand markets; Company the andto supportFord, GM andToyota theircustomers;and impactthe of Ford’s announcementregarding eliminationthe of variou specificallyrelated to the Company’s transactionGrabwith Holdings; theCompany's toability developandimplement products customer engagements,theincluding Company’s to ability determine, achieve andaccurately recognize revenueundercustomer e have on our revenueandoperating results; theeconomic ensuing recession;Company’s the to ability achieve future revenuecu manufacturerpartners will resume or partial productionfull and the impactcontinuedthe periodof reducedvolume of new veh automobile manufacturercustomers, consumer demandfor newvehicles Company’sand the operations; whenFord, GM andother aut others:the impact of the COVID number of risks uncertainties.and potentialThese risks anduncertainties include,among others: These potentialrisks u and on information currentlyavailable tomanagement. its Actual events or results may differ materiallyfrom those describedin supplementalThis investor presentationcontains forward Forward Looking Statements - 19 on business activity,19on business but includinglimitednot to the shutdown of manufacturing operations b - looking statementsthatare on the based Company management’s beliefan - looking statements.Also, forward - looking statementsreprese - K for thefisc www.sec.gov to nce ord ha th y t y al year endedJune30, 2019 ith the Company’srecognition ndi is documentis due to a ter ’s ve to takea reserve o producevehicles; rre rtaintiesinclude,among ;impact the of GM’s fo icl tat Amazon andMicrosoft, success inextending its y Ford,y GM andother s ate ili ng thatfutureactual ng lme weaknessesial in its r Ford, GM andToyota es being producedbeinges will ntlyestimated under nt management’snt nga ties in theirvehicles ties ions; the timingof ions; edans in North . Given these dt s of of s automobiles nt;possible dassumptions and gements,including ier ones ier for a omo bile © 2019
associated with its customized software solutions whereby customized engineering fees are earned. As the company enters into Telenav has provided a similar presentation of the change in the related deferred costs. Such deferred costs primarily includ Billings equal GAAPrevenue recognized plus the change in deferred from revenue the beginning to the end of the applicable pe To reconcile the historical GAAP results to non for planning and forecasting. These measures are not in accordance with, or an alternative to, GAAP and these non influenced by certain items and, therefore, are helpful in understanding Telenav’s underlying operating results. These non provided these measures in addition to GAAP financial results because management believes these non revenue, change in deferred costs, adjusted EBITDA, and cash free flow included in this supplemental investor presentation ar Telenav prepares its financial statements in accordance with generally accepted accounting principles for the United States, liquidity measure that provides useful information to management and investors about the amount of cash (used in)generated b Free cash flow is a non generally may provide useful information to investors and others in understanding and evaluating our operating results in the the expenses eliminate we when calculating adjusted EBITDA can provide a useful measure for period evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short inMarket Transaction and the Grab Transaction. Adjusted EBITDA, while generally a measure of profitability, can also represe loss accruals relating to litigation or other disputes in which Telenav is a party or the indemnitor of a party. M&A transact based compensation expense relates to equity incentive awards granted to its employees, directors, and consultants. Legal set (expense) net, provision (benefit) income for taxes, and other applicable items such as legal settlements and contingencies a Adjusted EBITDA measures GAAP net income/loss adjusted for discontinued operations and excluding the impact of stock providing specific information regarding billings and how they relate to revenue calculated in accordance with GAAP. companies that report similar financial measures, making comparisons between companies more difficult. Accordingly, when Tele hosting, monitoring, customer support and, for certain customers, additional period content and associated technology costs. For example, billings related to certain brought in accordance with GAAP. First, billings include amounts that have not yet been recognized as revenue or cost and may require and investors because billings drive revenue and deferredrevenue, which is an important indicator of its business. are There deferred costs become largercomponents of its operating results, so Telenav believes these metrics are useful in evaluating Use ofNon - GAAP financial measure Telenav defines as net cash provided by (used in)operating activities, less purc - GAAP Financial Measures - - GAAP financial metrics, please to refer the reconciliations in the financial tab in solutions cannot be fully recognized as revenue in a given period dueto req - to - GAAP measures help provide a - period comparisons of Tele - GAAP measures - and long ion - - based compe GAAP les included in this supplemental investor presentation. e c or or nd cas expenses relate primarily to costs associated with transactions, such as the a nt uirements for ongoing map updates and provisioning of services such as e d Sec sa tle hases of property and equipment. Telenav considers cash free flow to bea number of limitations related to the use of billings versus revenue calculated osts associated with third party content and certain development costs GAAP. The non ad merger merger and acquisition, or M&A, transaction expenses, net of tax. Stock rio h flows. Telenav considers billings to bea useful metric for management - a loss. a loss. Adjusted EBITDA is a key measure Telenav uses to understand and me me manner as Telenav does. mor term measures measures are some of the primary measures Telenav’s management uses ifferent from those otherwise presented underGAAP. Telenav has y y i ments and contingencies represent settlements, offers made to settle, or ond, we may calculate billings in a manner that is different from peer ditional services or costs to be provided contractedover service periods. nav d. In connection with its presentation of the change in deferred revenue, ts business after purchases of property and equipment. may may not becomparable to information provided by other companies. nav’s core business. Accordingly, Telenav believes that adjusted EBITDA e hybrid and brought uses this measure, it attempts to compensate thesefor limitations by operational plans. In particular, Telenav believes that the exclusion of nsation expense, depreciation and amortization, other income consistent basis for comparison between periods that are not - GAAP financial measures such as billings, change in deferred - in navigation programs, deferred revenue and - © 2019
4 3 2 1 Key Messages Delivered another solid quarter & remained focused& remained on Deliveredexecuting quarter solid another strategyour connected car forgrowth sustainable andvalue c Key Messages » » Continued to execute to capitalizeon ourconnected strategy on the car platform $500B connected car market » » » » » » $124M in cash, strong position and repurchases equity share investmentseven in the after $11Mquarter of Covid Solid financial results, 3 Closed Closed Europe Vivid after intheIn progress Solid Cash Cash and equity position investmentsapproximately represent Equityinvestments I Top priorities remain innon $1.6M revenue,inYoY$64M up33% n the near term, TNAV term, near the n also ❑ ❑ - 19 Impact Completed Completed additional investment with Completed investmentin Synq3, providing build our restaurants ICC and ecosystem further access of to thousands - GAAP adjustedEBITDA, GAAP YoY+$4.8M - immediate to short term outlook remains uncertain, but outlook uncertain, our term remains priorities the same remains immediate to short made in multiple companies of approximately companies of made multiple in $32M – customer delivery,customer employees, and safety of health operational discipline and cash preservation - rd Car Commerce spaceCar I Q3 FY20 I Q3 FY20 - market market deal withAlpine consecutive quarter of double of consecutive quarter is d riving operational riving operational efficiencies via transformation IT and spend mitigation across allareas MotionAuto as as we continue - 75% of TNAV’s of 75% Cap Market digit growthand positive non partnering and progress making partnering insurance on solutions at end of quarter end at of - GAAP adjusted GAAP EBITDA rea tion © 2019
Connected Car Platform Strategy Building strategy ourflywheel Building via momentum focuslaser with tocapitalize pillars a three on on +$500B TAM Margin Expansion Higher with M R O F T A L P R A C D E T C E N N O C » » V A N E L E T Quality Service Big Data +BigAI Intelligence (LBI) Location Based I Build, I Build, Acquire & Partner v v ©— 2019Proprietary and Confidential © 2019
Key Metrics 3 2 1 4 Includes cash, cash equivalents, and short and cash, 4 Includes equivalents, cash 3 2 Non all periods for operations discontinued for 1 Adjusted GAAP GAAP measure Grew revenue, expanded gross and margin, grew installed base - GAAP measure GAAP Gross Margin % Gross Margin Revenue $64M $64M +1 pts YoY +1 pts YoY +33% Billings 45% – - - - - see Financial Tables for reconciliation of GAAP to Non reconciliation for Tables Financial see 2% YoY 9 pts QoQ 13%QoQ 13%QoQ 2 3 - term investments term | Q3FY20 3 6 5 4 - GAAP 1 Adjusted EBITDA Adjusted 47% - Please Please refer to the financial tables at the back of this presentation and Telenav’s Investor Relations website for the latest +$5M YoY+$5M - - $2M +9 +$6M YoY $7M 9 pts YoY9 pts OPEX $13MQoQ - $5M QoQ FCF ptsQoQ 2 of Rev of 3 2 9 8 7 TotalCash on Hand TotalInstalledBase Connected CarsConnected $ +40% YoY +40% YoY +43% +25% YoY +25% 19M 124 28M +7% QoQ - +5% QoQ 4% QoQ M SEC filings SEC 4 © 2019
Services $ Revenue Product $ Revenue Telenav Total Company Substantial revenueproduct growth and services Performance Overview Breakdown 1 Adjusted for discontinued operations for all periodsall for operations 1 discontinuedfor Adjusted GAAP aremeasuresaboveAll $12.4 Revenue +33% y/y, +25% y/y, +82% y/y, +0% q/q 52.1 64.5 - - 15% 15% q/q 13% q/q million million million Gross profit of 45% revenue,+1.5 pts y/y, $ Gross profit 47% of 47% revenue,+3.3 pts y/y, $ 37% of 37% revenue, $4.5 Gross profit 24.4 29.0 - 6.0 6.0 pts y/y, million million million - - - 10.1 10.1 pts q/q 9.4 pts q/q 4.3 4.3 pts q/q - Please Please refer to the financial tables at the back of this presentation and Telenav’s Investor Relations website for the latest Key Highlights Revenue Mix ➢ ➢ ➢ ➢ ➢ | FY20 Q3 Services the business 19% represented overall of Services revenue mix 37% down 6.0pts Y/Y revenue Y/Y; $12.4M 82% up of Services Gross Margin of 47% 3.3pts up Y/Y Product revenueY/Y; 25% $52.1M, up of Gross Margin of up 1.5pts Y/Y Total 33% revenueup Y/Y; $64.5M, of Gross 45% Margin of margins while expanding solid a Delivered revenue quarter gross 1 Services 19% 81% Product SECfilings © 2019
Significant Significant year Key Financial Metrics Q3 FY19 Q3 FY19 $48.5 $86.5 Q2 FY20 Q2 FY20 $129.0 $73.9 - over - year growth revenue,in total cash on hand, and cash free flow Q3 FY20 Q3 FY20 $123.7 $64.5 Total Cash on Hand ($m) Telenav’s Investor Relations website for the latest filings SEC - Revenue ($m) - investments term - - Adjusted for discontinued operations periods for all operations for discontinued Adjusted Please Please refer to the financial tables at the back of this presentation and - - - TotalCash on and Hand short cash equivalents,cash, includes Non charts Both represent Adjusted for discontinued operations periods for all operations for discontinued Adjusted non isBillings a a GAAP is measure Revenue | YoY, QoQ - GAAP measure - GAAP measures - Q3 FY19 Q3 FY19 $64.6 $0.7 Q2 FY20 Q2 FY20 $72.7 $11.7 Q3 FY20 Q3 FY20 $63.5 $6.9 Billings ($m) Free Cash FlowFree ($m) © 2019
Q4 FY20 © 2019
Q4 FY20 Q4 ➢ ➢ ➢ ➢ ➢ Immediate to Short term Opportunities term to Immediate Short Win NewWin OEMs cars in aftermarketthe channel solution Aftermarketall with our first customer win and arewe just getting started our with In OEMs platformas an embeddedwith VIVID existing customers walletIncreaseshareof our - Car CommerceCar to caterto untapped the millions of | Areas of Focus – huge opportunity, - in - one VIVID within within our ➢ ➢ ➢ ➢ ➢ Operational Discipline Operational & Cost Controls efficiencies and productivitygains IT transformation controlfurthercosts Severalinitiatives other works toin the Scrutinize Restrict contractorrenewals Restrict external hiring all all discretionaryspend to driveoperational © 2019
Q4 FY20Outlook ➢ ➢ unit volumes,unit re plantto frommore weUntilrelated the OEMs understand existsaroundopen plants the globe,uncertainty with how will rampthe volumesunitplantsupand further fast While TNAVa recoveryabout from optimistic Covid the remains TNAV provide to not determined for FY20 has Q4guidance | Not Guiding| Not - openings, production ramp schedules and their impact on on impact their and rampopenings,productionschedules - 19 impact, it is unclear howunclearit is impact, OEMs aggressivelythe 19 © 2019
Q3 FY20 Financial TablesQ3 FY20Financial © 2019
Assets Current assets: Property andProperty equipment, net Operating lease right-of-use assets Operating right-of-use lease Deferred income taxes, income non-current Deferred Goodwill and intangible net assets, Deferred costs, non-current costs, Deferred Other Other assets Assets of discontinuednon-current of operations, Assets Cash and cash equivalents Short-term investmentsShort-term Accounts receivable, andallowances net andof $6 of at March$7 2020 June31, 30, 2019, respectively 2019, Restricted cash Restricted Deferred costs Deferred Prepaid andexpenses assets current other Assets of discontinuednon-current of operations, Assets Total assets current Total assets $ $ $ $ March 31, 2020 107,273 200,437 315,551 16,476 41,926 29,744 14,255 52,954 33,504 1,541 3,477 5,411 7,909 1,081 - - $ $ $ $ June 30, 2019 Condensed Consolidated Balance Sheets Balance Condensed Consolidated (in thousands,(in par except value) 200,075 297,015 27,275 72,203 69,781 18,752 15,701 61,050 12,194 1,950 3,784 6,330 5,583 1,414 998 - Telenav, Inc. (unaudited) Liabilities and stockholders’ equity and stockholders’ Liabilities Current liabilities: Deferred rent, non-current Deferred Operating lease liabilities, Operatingnon-current liabilities, lease Deferred revenue,Deferred non-current Other long-term liabilities Other long-term Liabilities of discontinuednon-current of operations, Liabilities Commitments andCommitments contingencies Stockholders’ Stockholders’ equity: Trade payableaccounts Accrued expenses Operating liabilities lease Deferred revenueDeferred Income taxes payable Liabilities of discontinued of operations Liabilities Preferred stock, $0.001 par value:authorized;shares $0.001 stock, outstanding 50,000 no or issued shares Preferred Common stock, $0.001 par authorized; shares andshares value:Common $0.001 stock, 47,288 46,911 600,000 issued andissued outstanding and atrespectively March 2020 June31, 2019, 30, Additional paid-in capital Accumulated comprehensive loss other Accumulated deficit Total equity stockholders’ Total liabilities current Total liabilities Totaland liabilities equity stockholders’ $ $ $ $ March 31, 2020 107,829 189,387 101,909 315,551 (85,521) 24,082 36,208 43,841 99,361 (2,004) 3,161 5,785 537 667 - - - - - 47 $ $ $ $ June 30, 2019 100,403 103,865 182,349 297,015 (90,279) 16,061 48,899 31,270 90,640 (1,477) 3,373 1,266 800 811 - - - - 30 47 © 2019
Revenue: Cost of revenue: of Cost Gross profit Gross Operating expenses: Income (loss) from operations from Income (loss) Other income, net Other income, Income (loss) from continuing operations before provision for income taxes income provision for continuingbefore from operations Income (loss) Provision for income taxes income for Provision Equity in net (income) loss of equity of method Equityinvestees loss in net (income) Income (loss) from continuing from operations Income (loss) Discontinued Discontinued operations: Loss on discontinued operations Loss Net income (loss) income Net Basic income (loss) per share: per (loss) Basic income Diluted income (loss) per share: per (loss) Diluted income Weighted average shareper used shares in computing (loss) income Income (loss) from operations of Advertising of operations from tax business, net of Income (loss) Loss from sale of Advertising of sale from Loss business Income (loss) from continuing from operations Income (loss) Loss on discontinued operations Loss Net income (loss) income Net Income (loss) from continuing from operations Income (loss) Loss on discontinued operations Loss Net income (loss) income Net Basic Diluted Product Services Product Services Research andResearch development Sales Sales and marketing General General and administrative Legal settlements andLegal contingencies settlements Total revenue Total cost of revenue of Total cost Total operating expenses Condensed Consolidated Statements of Statements Operations Condensed Consolidated (in thousands, amounts)share per (in except $ $ $ $ $ $ $ $ $ $ $ $ Telenav, Inc. (unaudited) 2020 Three Months Ended 52,106 12,390 64,496 27,664 35,523 28,973 21,617 30,186 47,902 47,902 (1,213) 7,859 2,166 6,403 1,088 (0.02) (0.02) (0.02) (0.02) (125) (733) (733) 505 103 March 31, - - - - - - $ $ $ $ $ $ $ $ $ $ $ $ 2019 41,723 48,540 23,532 27,449 21,091 19,322 27,012 45,585 45,585 (5,921) (5,340) (5,534) (1,947) (1,947) (7,481) 6,817 3,917 2,167 5,523 (0.12) (0.04) (0.16) (0.12) (0.04) (0.16) 581 194 - - - $ $ $ $ $ $ $ $ $ $ $ $ 2020 Nine Months EndedNine 169,639 205,000 106,096 35,361 86,087 20,009 98,904 61,997 20,118 88,361 10,543 12,788 12,361 48,053 49,022 (4,874) (4,042) 6,246 2,245 1,121 8,319 (0.08) (0.08) (694) 0.26 0.17 0.25 0.17 832 March 31, - $ $ $ $ $ $ $ $ $ $ $ $ 2019 124,050 144,952 (17,404) (14,701) (15,737) (19,632) 20,902 72,135 11,762 83,897 61,055 55,580 16,694 78,459 45,347 45,347 (3,895) (3,895) 5,535 2,703 1,036 (0.35) (0.09) (0.43) (0.35) (0.09) (0.43) 650 - - © 2019
Operating activities Operating Net income (loss) income Net Loss on discontinued operations Loss Income (loss) from continuing from operations Income (loss) Adjustments to reconcile net income (loss) to net cash to provided by(loss) net income operating activities: Adjustments reconcile to Stock-based compensation Stock-based expensecompensation Depreciation andDepreciation amortization Operating accretion amortization net of lease Accretion of net premium on short-term investments net premium of on short-term Accretion Unrealized gain on non-marketable equity investments Equity equity of inmethod investees net income Gain on sale of intellectual property andproperty GainGrab to intellectual onof workforce sale Non-cash revenue with associated Grab to grant perpetual of license Other Changes inand operating assets liabilities: Accounts receivable Deferred income taxes income Deferred Deferred costs Deferred Prepaid expenses and Prepaid expenses assets current other Other Other assets Trade payableaccounts Accrued and expenses liabilities other Income taxes payable Deferred rent Deferred Operating liabilities lease Deferred revenueDeferred Net cashNet provided by operating activities $ $ 2020 Nine Months EndedNine (13,910) 12,361 28,334 41,681 (5,831) (2,924) (2,791) 8,319 4,042 5,189 2,685 2,153 1,463 7,913 8,042 (694) (110) (252) 157 March 31, - (45) (38) (21) - $ $ Condensed Consolidated Statements of Statements Cash Flows Condensed Consolidated 2019 (19,632) (15,737) (11,581) (13,934) 12,020 29,281 (1,260) (1,728) 3,895 5,611 2,982 6,189 (162) (123) 209 160 488 - (15) - - (22) - (in thousands) (in Telenav, Inc. (unaudited) Investing activities Investing Financing activities Financing Supplemental disclosure of cash flow information of cash flow disclosure Supplemental Reconciliation of cash, cash equivalents and restricted cash to the condensed condensed the cash to ofand cash, cash equivalents restricted Reconciliation consolidated balance sheets consolidated Purchases of property andproperty of Purchases equipment Purchases of short-term investments short-term of Purchases Purchases of long-term investments long-term of Purchases Proceeds from sales and maturities of short-term investments and short-term sales of from maturities Proceeds Proceeds from exercise of stock options stock of exercise from Proceeds Tax withholdings related to net share settlements of restricted stock units stock Tax restricted of withholdings net share settlements to related Repurchase of common stock Repurchasecommon of Effect of exchange of changesrate Effect on cash, cash equivalents cash and restricted Net increase (decrease) in cash, cash equivalents(decrease) increase cash,Net andcontinuing operations restricted Net cashNet used in discontinued operations Cash, cash equivalents cash, andbeginning restricted period of Cash, cash equivalents cash, andend period of restricted Income taxes paid, net Non-cash investing: Investment in Market Media LLC acquired in exchange of sale for Advertising business Non-cash sale of assets to Grab to in assets exchange Non-cashof sale equity investmentfor and software Cash discontinued flowoperations: from Cash and cash equivalents Restricted cash Restricted Total cash, cash equivalents cash and restricted Net cashNet used in operating activities Net cashNet used in financing activities Net cash transferred from continuing from operations cashNet transferred Net changeNet in cash and cash equivalent discontinued operation from Cash and cash equivalent beginning discontinued operations, of period of Cash and cash equivalent end period discontinued operations, of of Net cashNet provided by (used in) investing activities Net cashNet used in financing activities $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 2020 Nine Months EndedNine (67,347) (46,378) 31,789 29,225 18,017 15,600 16,476 18,017 (1,320) (9,500) (1,230) (9,353) (2,193) (7,233) (3,975) (3,569) 8,390 1,626 7,012 3,975 1,541 (343) (406) March 31, - - - $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 2019 (31,044) 34,214 20,099 23,169 21,254 23,169 (1,831) (1,303) (1,778) (3,154) (3,154) 2,214 1,356 6,224 3,154 1,915 (956) (401) 730 - - - - - - - © 2019
(1) those solutions. We expect to incur inadditional to provideexpect We the to future due solutions. requirements costs ongoingto those map updates and provisioning such asservices hosting,of monitoring, customer support additionaland,monitoring, customer and customers, content certain period for technology costs. associated Deferred revenue,Deferred end period of Deferred revenue,Deferred beginning period of Change revenue in deferred Deferred costs, end period of costs, Deferred Deferred costs, beginning costs, period Deferred of Change costs in deferred Revenue Adjustments: Billings Change revenue in deferred Deferred costs primarily include costs associated with associated primarily includethird-party costs costs and content develop incurred Deferred to with in the connection costs customized software solutions, certain (1) Reconciliation ofRevenue ChangeDeferred Revenue to Deferred in Reconciliation Reconciliation of Deferred Costs to Change Costs to Deferred in ofCosts Deferred Reconciliation $ $ $ $ Unaudited Reconciliation of Non-GAAP Adjustments Unaudited Reconciliation Unaudited Reconciliation of Non-GAAP Adjustments Unaudited Reconciliation $ $ $ $ $ $ $ $ 2020 Reconciliation of Revenue Billings to Reconciliation 2020 Three Months Ended 64,496 63,527 Three Months Ended (969) 143,202 144,171 82,698 81,763 March 31, (in thousands)(in (969) (in thousands)(in Telenav, Inc. 935 Telenav, Inc. March 31, $ $ $ $ $ $ $ $ $ $ $ $ 2019 2019 48,540 16,047 64,587 103,819 87,772 16,047 72,359 65,465 6,894 $ $ $ $ $ $ $ $ $ $ $ $ 2020 2020 Nine Months EndedNine 205,000 213,067 Nine Months EndedNine 143,202 135,135 8,067 82,698 79,802 8,067 2,896 March 31, March 31, $ $ $ $ $ $ $ $ $ $ $ $ 2019 2019 144,952 174,233 103,819 29,281 74,538 29,281 72,359 58,425 13,934 © 2019
Net income (loss) income Net Loss on discontinuedLoss operations Income (loss) from continuing from operations Income (loss) Adjustments: Adjusted EBITDA Legal settlement andLegal settlement contingencies Stock-based compensation expense Depreciation andDepreciation amortization expense Other income, netOther income, Provision for income taxes income for Provision Equity in net (income) loss of equity Equityof method investees loss in net (income) Reconciliation of Net Income (Loss) to Adjusted to of Income Net (Loss) EBITDA Reconciliation Unaudited Reconciliation of Non-GAAP Adjustments Unaudited Reconciliation $ $ $ $ 2020 (in thousands)(in Telenav, Inc. Three Months Ended (1,088) 1,959 1,575 (733) (733) 829 505 103 March 31, - - $ $ $ $ 2019 (7,481) (5,534) (3,267) 1,947 1,688 (581) 966 194 - - $ $ $ $ 2020 Nine Months EndedNine 12,361 18,417 (2,245) 8,319 4,042 5,189 2,685 1,121 (694) March 31, - $ $ $ $ 2019 (19,632) (15,737) (2,703) (8,161) 3,895 5,611 2,982 1,036 650 - © 2019
(3) (2) (1) cash Free flow cashNet provided by operating activities operating activities: net cash to provided (loss) net byincome Adjustments reconcile to continuing from Incomeoperations (Loss) on discontinuedLoss operations (loss) income Net Less: Purchases of property and of Purchases Less: equipment Other adjustments Changes andoperatingin other assets liabilities Change costs in deferred Change revenue in deferred Consist primarily of depreciation andprimarily depreciation Consist of amortization, compensation expense stock-based and non-cash other items. primarily andthird of partyConsists costs customized software developmentcontent expenses. and customized software developmentfees product service fees. royalties, of subscription fees, Consists (3) (2) (1) Reconciliation of Net Income (Loss) to Free Cash Flow Free to of Income Net (Loss) Reconciliation Unaudited Reconciliation of Non-GAAP Adjustments Unaudited Reconciliation $ $ $ (in thousands)(in 2020 Telenav, Inc. Three Months Ended 11,904 (2,046) 6,926 7,168 (242) (963) (994) (733) (733) March 31, - $ $ $ 2019 16,047 (5,019) (6,894) (5,534) (7,481) 1,230 2,630 1,947 (511) 719 $ $ $ 2020 Nine Months EndedNine 40,361 41,681 20,626 12,361 (1,320) (2,924) 3,576 8,042 4,042 8,319 March 31, $ $ $ 2019 (13,934) (15,737) (19,632) 29,281 5,233 6,189 7,296 3,895 (956) (717) © 2019