Make learning awesome - Company Presentation - Goldman Sachs Fireside chat February 17th 2021
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Make learning awesome
Company Presentation - Goldman Sachs Fireside chat
February 17th 2021
Our vision is to build the leading learning platform in the world
Kahoot!
5 Billion
The Kahoot! journey
Development of cumulative non- 3 Billion
unique players since launch
Kahoot! started 2012 as a quiz-based 2 Billion
game to ensure attention, create
engagement and provide knowledge in
classrooms 1 Billion
Global recognized brand with a viral
distribution model based on scalable 2013 2014 2015 2016 2017 2018 2019 2020
technology platform
User centric, data-driven and iterative
approach to product development 2013-17 2018 2019 2020
and innovation
Launched Launched first New commercial More commercial
September 2013 commercial subscription offerings, 550k paid
Over 100m user generated Kahoots, editions with 40k editions for all subscriptions
250m games played last 12 months Growth focus on paid subscriptions segments
US and K-12 Launched first
with 1.5bn participating players
Launched mobile Reaching 170k paid platform service
Top 3 tool in US apps for iOS and subscriptions
education Android Acquisition of Actimo
Acquisition of Poio Enterprise Learning
50+ employees 75+ employees and DragonBox and Drops language
learning app
120+ employees
200+ employees
Kahoot! today
$20bn
Scalable cloud Large market Recognized Viral business
platform opportunity* market leader model
24m+ 550K+ 100m+ 90-100%
Active accounts Paid subscriptions User generated Net dollar retention,
whereof 7m growing 220% YoY, kahoots, 1.5bn above 100% for
teachers and for professionals, participating larger organizations
educators teachers, and players LTM (non-
personal use** unique)
*Based on estimated EdTech market in 2020 from Goldman Sachs Education Technology Sector trends and market update May 2020
**Including 100K from Drops, acquired November 2020
Kahoot! accelerating momentum
Active accounts LTM 1) Paid subscriptions 2) Invoiced revenue 3)
9% QoQ 24m 550K+ $17.5m
36% QoQ
average growth average growth 34% QoQ
average growth
12m
46K $1.7m
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2018 2019 2019 2019 2019 2020 2020 2020 2020 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2018 2019 2019 2019 2019 2020 2020 2020 2020
2018 2019 2019 2019 2019 2020 2020 2020 2020
School Other Home School Work
USA and Canada
Europe
Asia Pacific
1) Active accounts LTM is defined as unique user accounts hosting a game with one participant or more LTM
Latin America and The Caribbean
2) Paid subscriptions is defined as total number of users on paid subscription per the end of the period, not including Actimo.
Africa, The Middle East, and India
Home subscriptions include 100K Drops subscriptions in Q4 2020
3) Conversion to paid subscriptions in all segments from customers in more than 150 countries
Why everyone loves Kahoot!
Embraced by 7m teachers Loved by students
“
Kahoot! helps me engage across the globe
“
students in class and for
homework, and also works I love Kahoot!
great for virtual lessons even It makes learning fun!
when school is closed
As do hundreds of millions of
As do millions of teachers globally students
Trusted by parents Integral for corporate
and families culture and learning
“ “
Kahoot! allows me to engage
Kahoot! breaks down
in playful learning with my
barriers and connects
family in a social setting
teams
As do hundreds of thousands of
As do millions of families around organizations in over 150 countries
the world
To play Kahoot! is to promote Kahoot!
Teachers
Organizations
Students The Kahoot! viral
distribution model
generates millions of
new accounts and
app downloads every
Parents
month
Over 10 million families and Over 200K+ teachers are
friends are using Kahoot! paying for premium
at home with over editions to drive learning
and engage students
100 million games played
Free and from $3 per teacher per month
Free and from $5 per user per month
Launch 2020
Over 100K+ businesses breaking Connecting the global educator community
down barriers and and providing high-quality, verified content,
connecting teams with our to ensure that every student gets access to
professional editions awesome learning at school and home
From $10 per user per month
97% of the Fortune 500
are Kahoot!’ingKahoot! at work - for all organizations
Corporate learning Team collaboration
“ “
Kahoot! is a powerful
With Kahoot! I can tool for breaking down
measure product barriers and connecting
knowledge the team
Courses, analytics, learner resources Integrations, collaboration tools
Audience engagement Company culture
“ “
Not only is my audience
more engaged by being Kahoot! is built into our
able to participate, I am organizational culture
also able to reinforce
important content.
Team building mode, employee
Interactive presentations, engagement tools
audience interaction features“ “
For sales people it’s the competition We had a standing
that makes it even more exciting: ovation from people
they’re very competitive and trying to participate
everyone wants to get to the in our annual risk
podium! management event”
“
“ ““
Kahoot! has become an
“With Kahoot!, not only is my
important tool for
audience more engaged by
continuous learning in our
being able to participate, I am
Employee / organization
also able to reinforce
important content Learner
Presenter /
Manager
“
Game-based learning is an easy
way to assess learners’ retention.
Trainer / HR
“
Kahoot! offers Sky a unique The trainer instantly knows what
Professional learners understand and what
insights platform, that is
both flexible and adaptable needs more clarification, helping
to changes in the business us improve
strategy and environment. the learning for
everyoneNew and existing customers are making learning awesome in Q4
Engagement &
Communication 97% Training &
development
of the Fortune 500 are Kahoot!’ing
A better
experience for
Company culture all learners
at work
Interactive
presentations &
meetingsThe transition from presenter centric to including everyone within the organization
Introducing The complete solution for team spirit and company culture, corporate Learning, audience engagement. For all employees, to empower all individuals and teams to create, share and join engaging learning experiences and build organizational knowledge
”Always on” employee dashboard Employees have easy access to all relevant content from mandatory training to teams, creative challenges in addition to trivia
“Always on” Employee Polls Instant feedback from the whole organization to motivate, enforce information sharing with secure consistent reporting across organization
Company Content Library Easily discover your organizations' content and access premium content from partners and consultants in a branded company library
Main features From
$6
● Build team spirit by creating and
hosting session to everyone in the
organisation and amongst peers
● Complete training courses
individually or as teams per employee per month
● New team building experiences for
live sessions and self-paced training
● Ability for mandatory training and For larger organization Kahoot!
polls with full reporting including 360 Spirit Premium available
identity management from $9 per employee per
● Enhanced cross-organization month
aggregated reporting
● Proprietary company content library
Full launch and general
with access to 3rd party content
availability in Q2 2021
from partners and consultantsEngage
10m+
Language
learning for communities
+ everyone from 8
years and above
Premium features
and content for any
are using Kahoot! at
occasion
home with over 100
million games
played by families Study at home
with flashcards, tests
and challenging
friends
Premium subscription
for awesome
learning for the
at home
entire family
Learn math Learn
& algebra to readIntroducing Language Learning in the Kahoot! app
87% of the global top 500 universities are Kahoot!’ing Source: The Times Higher Education World University Rankings (2020)
Over Equip IT admins with Elevate learning at
10K
increased control, your entire school or
security & compliance district
educational
institutions have Make lessons
already deployed interactive
multiuser Kahoot!
teacher licenses
at school
Engage Embraced by over Next level
students 100s of millions 7 million engagement
with Bitmoji
of students teachers globallyPremium learning content for Marketplace
30m+ students in the classroom and
at home
players enjoying
kahoots created by
our partners
Kahoot!
Publisher
Premium subscription
for publishers and
content creators content partners
Partnering with leading
publishers and
organizationsContent Discovery Easy and user-friendly discovery of the latest premium content from Verified Educators and Content Partners
“
Community &
7m+ Network Embraced by over
Mandy H just added a new
lesson to her profile: Math 8
12 million If teachers didn’t try new
educators &
Pre-Algebra Refresher.
Learn More players monthly things, our students
wouldn’t get the best
teachers, and from us.
hundreds of millions Aimee Copple
of students across
the world use
Premium learning
Kahoot! to make
content
learning awesome
By verified educators
and publishers to
engage students
Marketplace
for educators
(Launching 2021)
Knowledge
portalConnecting the global educator community and providing high quality, verified content, from educators and premium partners.
The next-level
employee app for
remote employees
Fuelled by actionable insights,
Actimo intuitively increases
productivity and engagement levels
in daily communication, tasks, and
training.
Over 100K active
monthly usersLanguage Learning
Fun and easy
Beautiful, visual learning
Gradually nurtures commitment
Anywhere, anytime swipe-only freedom
Short 5-min sessions*
Game-like motivation
100K subscribers studying 42
Vocab-focused* languages in over 200 countries —
Self-guided learners & almost every country and territory across the world…
auxiliary tool for instructors Even Antarctica!The Kahoot!
Selected Content Integration & Feature
Partners Partners
ecosystem
Language study
Kahoot! Kids Math game
Students Learn to read
platform Teachers
Social
experience
Family
Interactive
presentations
Self-study
learning
Schools Professionals
(K-12) Engaging Presentation
learning & meetings
Higher
Courses
Education
Formative Training &
assessment development
Math game
Events
Learn to Interactive Engagement &
read lessons culture
Deskless
Language Verified workers Apple Schoolwork
Marketplace
study content
Community
networking Publishing &
Supplementary
Distribution
curriculum
Premium
Engagement partners
Verified
educatorsCompany Update
Highlights Q4 2020
• Continued growth on the Kahoot! platform with more than 24m active accounts last
twelve months representing 57% year on year growth per Q4 2020
220%
YoY growth in paid
• Strong growth in paid subscriptions, reaching 550K in Q4 2020, an increase of 190K
subscriptions per Q4
paid subscriptions from Q3 2020 including 100K Drops subscriptions
• Q4 2020 invoiced revenue growth of 230% to $17.5m, up from $5.3m in Q4 2019. The
quarter over quarter growth in invoiced revenue was 50% in Q4 2020. For the full year
$45.3m, a 247% growth. 230%
Q4 YoY growth in
• Positive cash flow from operations of approx. $7m in Q4 2020 representing 40% cash
conversion from invoiced revenue, compared to $1.4m in Q4 2019. For the full year invoiced revenue
$17.4m.
• Adjusted EBITDA in Q4 2020 was $0.8m and $2.3m for the full year 2020 (adjusted for
share-based compensation expenses, related payroll taxes and acquisition-related 40%
expenses)
Q4 cash conversion
• Solid financial cash position of $256m per Q4 2020. The company has no interest- from invoiced
bearing debt revenue
• Completed the acquisitions in Q4 of Actimo, the employee engagement platform
empowering organizations to more efficiently build corporate culture, and Drops, the
language learning platform with 42 languages and 25 million users since launchKey financial figures development
Main comments:
• Continued strong QoQ growth in
Invoiced revenue and Operating
revenue
• Cash flow from operations exceeding
40% of invoiced revenue for three
consecutive quarters
• Continued efforts to develop the
company, adding product,
development and commercial talents
• 40+ employees added through
acquisitions in Q4 2020Invoiced revenue per region
(in thousands USD)
9,000
Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
8,000
Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
Africa, The Middle East, Latin America and The Asia Pacific Europe USA and Canada
and India Caribbean
Kahoot! has paying subscribers in more than 150 countries, USA and Canada represent approx. 46% of
invoiced revenue and Europe approx. 41% in Q4 2020Forward looking statement
Actual Actual Actual Guidance
FY 2018 FY 2019 FY 2020 FY 2021
Invoiced revenue $3.5m $13m $45m $90-100m
Paid subscriptions 46K 170K 550K 1m
• In 2021, Kahoot! will continue to expand with new free and premium tools and functionality for
interactive presentations for school and work, corporate training, language learning, Academy
Marketplace and additional content offerings from publishing partner, to make learning even
more awesome for all users
• For the full year 2021, the Kahoot! Group’s ambition is to reach $90-100m in invoiced revenues with
continued solid positive cash flow from operations and one million paid subscriptions
• The company is preparing for a main listing at Oslo Stock Exchange which could be completed as
early as in Q1 2021. In addition, the company will explore the opportunity for a secondary listing
during 2021Kahoot! ambitions next three years
Target Kahoot! ARR end of year
2)
Significant scale $200m+ Annual Recurring Rev. end of 2023
(in millions USD)
200
Retention & expansion 100%+ net $ retention for larger organizations
150
Engagement Adding net 3m+ active accounts annually
100
Commercial Adding net new 250K subscriptions annually 1)
50
Operating leverage 40%+ EBITDA margin
0
Cash flow Cash flow from operations exceeding EBITDA 2018 2019 2020 2021 2022 2023
1) Not including Home & Study subscriptions
2) Not including ARR from future acquisitionsSummary
A globally recognized A scalable cloud Experienced
brand across sectors platform supported by organization with
and segments a viral business model growth track record
from the industry
Clear path to profitable Continuously Solid funding for
growth with positive improving all services strategic partnerships
cash flow from for all segments and and non-organic
operations user groups growthJoin the Kahoot! journey Teacher Student Parent Professional Investor kahoot.com/school kahoot.com/study kahoot.com/home kahoot.com/work kahoot.com/investor Stay up to date, visit kahoot.com/news
Kahoot! shareholder overview
Kahoot! AS has a total of 446.1m registered common shares and approx. 20,000 shareholders. The shares
are listed on Oslo Stock Exchange (Euronext Growth) with ticker code KAHOT
3% Oslo Stock Exch. (Euronext Growth): KAHOT
5%
15%
Yahoo! Finance KAHOT.OL
Management
and employees
16% Reuters: KAHOOT-ME.OL
SoftBank
Bloomberg: KAHOOT:NO
23%
Other Number of registered shares: 446,091,967
(~20,000
shareholders) Outstanding share options: 20,081,975
Institutional
Total no. of shares (fully diluted): 466,173,942
investors
22% Free float: ~95%
12%
Datum Share price (Feb 9, 2021): NOK 127.60
Group
4% Avg. daily trading volume YTD (shares): 2,815,000
Creandum Market Cap total (Feb 9, 2021): NOK 56.9bnwww.kahoot.com/investor
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