Make learning awesome - Company presentation June 2020
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Make learning awesome Company presentation June 2020
Our vision is to build the leading learning platform in the world
About Kahoot!
Growth ambition
New initiatives
Summary
Kahoot! Founded in 2012, Kahoot! started delivering a quiz- based game to ensure attention, create engagement and provide knowledge in classrooms Scalable technology platform based on research conducted by Kahoot! co-founder Morten Versvik at NTNU together with Professor Alf Inge Wang User centric, data-driven and iterative approach to product development and innovation ● Build awesome free services ● Improve based on feedback from millions of users ● Extend with premium subscriptions User-generated content with over 100m kahoots created by our user and content partners so far, over 50m available in a user friendly searchable database
The Kahoot! journey 2019 4.5 Billion
Development of cumulative players Commercial subscription
editions available for all
segments, reaching 100K
paid subscriptions
Acquisition of Poio learn 3 Billion
2018
to read and DragonBox
learn math
Launched first commercial 120+ employees, 2020 YTD
2013-2017 editions for the business and offices in 6 countries
school segments, reaching Expanding commercial
40K paid subscriptions offerings in all segments,
Launched in September 2013 2 Billion reaching 200K paid
Launched mobile apps for subscriptions
Growth focus on US and K-12 iOS and Android
education segment Introduced first embeddable
75+ employees service for publishers
Developed a global recognizable
brand on a scalable platform 125+ employees, increased
investments in R&D and
Top 3 tool in US education 1 Billion organization development
50+ employees
2013 2014 2015 2016 2017 2018 2019 2020
Why everyone loves Kahoot!
Embraced by 6m+ 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 over 6 million teachers globally students
Trusted by parents Integral for corporate
and families culture and learning
“ “
Kahoot! allows me to engage
Kahoot! breaks down barriers
in playful learning with my
and connects teams
family in a social setting
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
Parents The Kahoot! viral business model
generates over 1m new accounts and
over 2m app downloads every month
Kahoot! Subscriptions and apps
Over 100K+ teachers are Over 100 million games 100K+ businesses breaking
paying for premium have been played by down barriers and
editions to drive learning families and friends around connecting teams with our
and engage students the globe professional editions
from
from from
$3 $5 $10
per user per
per user per per user per month
month month
Kahoot! today
$20bn
Scalable cloud Large market Recognized Viral business
platform opportunity* market leader model
19m+ 260K 100m+ 90-100%
Active accounts Paid subscriptions User generated Net dollar retention,
whereof 6m+ growing 100%+ YoY, kahoots with over above 100% for
teachers and including teachers 1bn participating larger organizations
educators and professionals players LTM
NOTE: Based Q2 forecast on active accounts and paid subscriptions
*Based on estimated EdTech market in 2020 from Goldman Sachs Education Technology Sector trends and market update May 2020About Kahoot!
Growth ambition
New initiatives
SummaryKahoot! – the growth has only just begun
Commercial launch 2018 Status Q2 2020
• 10m+ active accounts beginning of 2018 • 19m active accounts end of Q2 2020
• Free usage, no commercial • Commercial subscription editions
subscriptions previously offered available in all segments
• Launched first commercial offerings for • Expanding product offering in all
the business and school segments 10 quarters
segments to build a platform
• Initial low price subscription offered company
(from $1/month for teachers and
• ARPU increasing through upgrade
$10/month for businesses)
driven by extended product
• $1.7m invoiced revenue in Q4 2018 offerings
• $9m invoiced revenue Q2 2020Kahoot! accelerating momentum
Active accounts LTM Paid subscriptions Invoiced revenue
260K
19m $9m
7% Q/Q 33% Q/Q 32% Q/Q
average growth average growth 202K average growth
17m
$6.4m
12m $1.7m
46K
10 0 0
Q4 Q1 Q2 Q3 Q4 Q1 E Q2 Q4 Q1 Q2 Q3 Q4 Q1 EQ2 Q4 Q1 Q2 Q3 Q4 Q1 E Q2
2018 2019 2019 2019 2019 2020 2020 2018 2019 2019 2019 2019 2020 2020 2018 2019 2019 2019 2019 2020 2020
• Strong organic growth in • Increased conversion rate of • Conversion to paid
active accounts 1) with no active accounts to paid subscriptions and extended
external marketing cost subscriptions 2) product offering in all
segments from customers
in more than 150 countries
1) Active accounts LTM is defined as a unique user account hosting a game with one participant or more the last twelve months
2) Paid subscriptions is defined as total number of users on paid subscription per the end of the periodKahoot! ambitions next three years
Target Kahoot! ARR end of year
Significant scale $100m+ ARR end of 2022
(in millions USD)
150
Retention & expansion 100%+ net $ retention in the business segment
Engagement Adding net 3m+ active accounts annually 100
Commercial Adding net 250K* professional seats annually
50
Operating leverage 40%+ EBITDA margin
0
Cash flow Cash flow from operations exceeding EBITDA 2018 2019 2020 2021 2022 2023
* Not including home subscriptionsKey metrics development 2018 - 2020
Actual Actual Guidance Guidance
FY 2018 FY 2019 H1 2020 FY 2020
Invoiced revenue $3.5m $13m $15m+ $32 - $38m
Paid subscriptions* 46K 170K 260K+ 320K+
Active accounts LTM 12m 16m 19m 20m+
*Including DragonBox SchoolAbout Kahoot!
Growth ambition
New initiatives
SummaryNew Initiatives
Why companies use Kahoot!
Corporate learning
Internal
Trivia Events Compliance Training
presentations
Enhanced functionality and increased value for the organisationThe transition from presenter centric to including everyone within the organization
High level feature roadmap 2020
Employee platform
Identified players
Anonymous players (Corporate training and
(PlayerID)
culture building)
Survey, team
Self paced challenge
Quiz game learning and self-
game
study
New game modes incl.
User generated content Poll, Slide, Puzzle, Premium content
Wordcloud
Corporate reporting and
Track individual/group
Game report branding
performance over timeIntroducing
Family
EDU
Publishing & DistributionIntroducing
Family
A collection of
services and apps
valuable for families
and personal use10m+ are using Kahoot! at home with over 100 million games played by families
Kahoot! Family subscription
Study at home Explore and learn
“ “
Through the Kahoot! app I
am able to study at my I am able to access
own pace, to gain a deeper premium content from
understanding of topics top brands
Engaging deeper learning with A library of content made by
flashcards, tests and challenging educators, learners and professional
friends content providers
Learn through play Engage communities
“ “
Kahoot! allows me to Kahoot! lets me bring
engage in playful learning an element of fun and
with my family in a social engagement to social
setting events
Engage children of all ages with our Premium features and content
“learners to leaders” pedagogy for any occasionFamily subscription
Main features From
●
●
Kahoot! App Plus with
advanced question types
Access to premium content
from partners
$6
per month for up to
● Extended self study mode
● Access to over 80 million 5 family members
high-quality images
● Poio Learn to Read app
● DragonBox Learn Math apps
● DragonBox Learn Chess app
Available from Q3 2020
(back to school)EDU Kahoot! EDU enables admins and school leaders to structure and enhance the way Kahoot! is used inside their schools, districts or higher-ed institutions. It also introduces premium licenses for students. Over 10,000 educational institutions have already deployed multiuser Kahoot! teacher licenses
87% of the global top 500 universities are Kahoot!’ing Source: The Times Higher Education World University Rankings (2020)
Kahoot! EDU - An enhanced Kahoot! experience
for the entire school, not only the classroom
Engage students Empower teachers
Give students more ways to Provide educators the full
create kahoots for assignments teaching toolkit that includes
and to study with their peers interactive lessons and
advanced assessment
Equip IT admins Elevate school leaders
Offer IT admins greater Lift up school leaders with tools to
control over who and how foster a positive learning
Kahoot! is used, and enable environment and to conduct
tech integrations professional developmentEDU
Main features From
$12
● Extended admin controls
● Advanced assessment
● Deployment tools
● Private team space for
teachers and groups per month per educator
● Advanced kahoot creation
mode for students
● Interactive lessons
● School branding Available from Q3 2020
(back to school)Introducing
6 million+
educators & teachers, and hundreds of millions
of students across the world use Kahoot!
to make learning awesomeKnowledge portal Content platform Educator community Marketplace
Connecting the global educator community and providing
high-quality, verified content, to ensure that every student
gets access to awesome learning at school and homeCommunity & network A knowledge platform for millions of engaged educators Educators can share content and build communities based on topic, location or interests Global content network connecting brands, educators and learners
Marketplace A marketplace for educators and brands The one place to reach a global educator community ‘One-stop-shop’ for knowledge for any learner Premium content on any topic, in any language, from verified educators and premium partners
Brand-new portal
Knowledge Community and
Community and
knowledge
Built platform
on top of Kahoot!’s user networking
networking
baseon
Built oftop
millions of engaged
of the Kahoot! Communities built around
educators of
community and learners,
millions of with Communities based around
verified, educational
personalised, verified,
the goaleducators
engaged of making andlearning content based on sharing.
topic,
learners, with the goal of educational content
awesome! location or interests
making learning awesome!
Marketplace for Premium, verified
verified
educators content
Verified educators and Fromeducators,
From educators, publishers,
publishers,
premium partners can brands
brands, or partnerslearners
or partners to to
offer their content, build all over the globe; at home,
learners all over the globe; at at
work or in school
communities and brands home, at work, or in schoolAccess to Kahoot! Academy Verified educator profile on
for all teachers Kahoot! Academy from
FREE $9
per month per user*
Available early release June Available during Q3 2020
2020 (back to school)
*included in all Kahoot! Premium+ subscriptions
for school and higher educationIntroducing
Publishing &
Distribution
Enables publishers to embed the Kahoot! services on their
own websites and distribution channels to promote their
content and brandsPartnering with
leading publishers
and organizations
30m+
players in
thousands of
players enjoying
games
kahootscreated by
created
our content
by our partners
partnersKahoot! publishing & distribution
Engaging audiences globally Viral network effect
“
We now offer fun and engaging
“
We invite you to test your Kahoot! content specially created
knowledge about the world, to be used with many of our titles.
“
and ignite your spirit of
The Kahoot! platform is ideal for
exploration, using Kahoot!
the learning goals of LaunchPacks.
6.5 million players across 200+ countries Added value and greater extension via
embeddable games
Flexibility across use cases Distribution & connection
“ “
Kick off this Digital Citizenship Calling all teachers! We’re excited
Week by giving your students the to share that Disney Youth
space to voice their perspectives Programs has teamed up with
on topics important to them. Kahoot!, so you can bring our
Check out our fun new lessons into your classroom!
#DigCitWeek kahoots.
Perfect for group discussions and Establish relationships with hard-
stand-alone lessons to-reach audiencesPublishing & Distribution
Main features
From
$500
● Option to embed kahoots
on publisher websites
● Viral distribution and
advertising feature
● Partner profile on Kahoot!
Academy per month per brand
● Lead generation through
premium partner Brand
Pages
● Real-time gameplay
Early release Summer 2020
analytics
● Access to over 80 million
high-quality images“The complete solution for Corporate Learning, audience engagement, team collaboration and company culture” Introducing For all employees, to empower all individuals and teams to create, share and join engaging learning experiences and build organizational knowledge
97% of the Fortune 500
are Kahoot!’ing“ “
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 everyone trying to participate
wants to get to the podium! in our annual risk
management event”
“
“ ““
Kahoot! has become an
“With Kahoot!, not only is my
important tool for continuous
audience more engaged by
learning in our organization
being able to participate, I am
also able to reinforce Employee /
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 to needs more clarification, helping
changes in the business us improve
strategy and environment. the learning for
everyoneKahoot! 360 for 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 able Kahoot! is built into our
to participate, I am also able organizational culture
to reinforce important
content.
Team building mode, employee
Interactive presentations, audience engagement tools
interaction featuresMain features From
$40
● Full range of Kahoot!
Premium features
● Truly Interactive
Presentations across the
organization For individual license per month
● Tools for design and manage
courses
Volume licensing available for
● Enhanced cross-organization
reporting (compliance) teams and large organizations
● Team building game mode from $10 per month
● Extensions for discussions
and brainstorm meetings
● Organization-wide learning Available from June 2020
repository for all employeesAbout Kahoot!
Growth ambition
New initiatives
SummaryThe Kahoot! Language
study Math game
ecosystem Self-study
Learn to read
platform Game-based
Social
experience Professionals
learning Premium
Student
games
edition
Survey
Presentation
Engaging & meetings
learning
School
(K-12) Academy &
training
Formative Training &
Higher assessment development Publishing &
Education distribution
Interactive Event/
lessons Engagement &
e-Event
event
Corporate
Verified Culture
Marketplace
content
Verified Community
educator networking Apps & brand
Premium
partner Corporation
PublisherSummary A globally recognized brand across sectors and segments Scalable cloud platform supported by a viral business model Experienced organization with growth track record from the industry Clear path to profitable growth with positive cash flow from operations Continuously improving all services for all segments and user groups Solid funding for strategic partnerships and non-organic growth
Join 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
Thank you!
Appendix: Financial update from the Q1 2020 presentation
Kahoot! and the Covid-19 impact
We are continuously adjusting and optimizing our business operations in the new,
unprecedented realities, while ensuring the health and safety of our employees
Free access to Kahoot! Strong growth in the Strong growth in
Premium for all teachers platform usage and usage for home study
and schools affected by new paid seats and remote work
Covid-19
+100K +30K 5X
New total signups of Net new paid seats in Usage growth of Kahoot!
Kahoot! accounts per April 2020, exceeding YoY for home study and
day during peak days 230K paid seats assignments (challenges)Highlights Q1 2020
• Strong usage growth on the Kahoot! platform with 25% growth in active accounts, 19%
growth in hosted games and 23% growth in participating players in the last twelve months
+200K
Paid seats (+125K
• Good growth in paid seats, reaching 184K in Q1 2020, increased by 32K seats from Q4 2019 LTM)
and reaching a total of 202K including DragonBox School
• Q1 2020 invoiced revenue growth of more than 220% to $6.4m, up from $2.0m in Q1 2019 +220%
Growth in invoiced
• Positive cash flow from operations of $0.9m in Q1 2020, compared to -$1.9m in Q1 2019
revenue YoY
• Solid financial cash position with cash and cash equivalents of NOK 357m ($34m) as of
31.03.2020 and no interest-bearing debt
+10%
• Launched several new features and editions for all three main segments (at Work, at Cash conversion
School and at Home), contributing to the growth of both free and paid users in the quarter.
The main focus has been delivering an improved experience when using Kahoot! with video
from invoiced
conferencing tools and for teachers performing student assessments revenueContinued growth in accounts and usage
Last twelve months (in millions)
Participants Hosted games Active accounts
+23%
1 305 +19%
218 +25%
16.8
182
1 057 13.3
Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020
The user growth on the platform last twelve months continued, reaching 1.3bn participating players (23%
YoY growth), 218m games played (19% growth YoY) hosted by 16.8m active accounts (25% YoY growth)
Graphs not including DragonBox and PoioContinued growth in paid seats
Work School
Paid seats per quarter (in thousands)
200 200
180 180
160 160
140
140
+161%
120 120
100 100
80 80
60 60
40 40
20 20
0 0
Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q1 2019 Q1 2020
Kahoot! reached 184K paid seats as of Q1 2020, compared to 153K at end of Q4 2019, where of 93K in
the Business segment and 91K in the School segment
Note: Including 18K DragonBox School licenses, The Kahoot! Group reached 202K paying users in Q1 2020
Graphs not including DragonBox and PoioQuarterly invoiced revenue development
Invoiced revenue (in millions USD)
6 6
4 4 +200%
2 2
0 0
Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q1 2019 Q1 2020
Total invoiced revenue in Q1 2020 of $6.4m including $6.0m from Kahoot! subscriptions
and $0.4m from DragonBox and Poio. The organic quarter-over-quarter growth was 21%
in Q1 2020 vs Q4 2019
Graphs not including DragonBox and PoioAutomated invoiced revenue per region
Automated Invoiced revenue (in thousands USD)
3,000
2,500
2,000
1,500
1,000
500
0
Africa, The Middle East, Latin America and The Asia Pacific Europe USA and Canada
and India Caribbean
Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020
Kahoot! has paying subscribers from automated sales in more than 150 countries,
USA and Canada represent approx. 46% of revenue (Europe approx. 37%) in Q1 2020
Graphs not including DragonBox and PoioKey business model projections
• Invoiced and recognized revenue
Key financial figures development
continue to grow quarter over quarter
Financial figures presented in $millions
Q1-20 Q4-19 Q3-19 Q2-19 Q1-19 • Lower growth in total operating
Invoiced revenue 6,4 5,3 3,4 2,3 2,0 expenses combined with strong cash
Invoiced revenue growth Q/Q 1,1 1,9 1,1 0,3 0,3 collection of invoiced revenue drive
Recognized revenue 4,5 4,0 2,2 1,4 1,2 positive cash flow from operations
Total operating expenses -5,4 -5,1 -3,9 -3,4 -3,3
EBITDA -1,0 -1,2 -1,7 -2,0 -2,2 • EBITDA continues to improve quarter
Net cash flow from operations 0,9 1,2 -0,6 -1,5 -1,9
over quarter
Cash and cash equivalents 34,0 40,9 13,4 24,7 26,5 • Solid cash position and cash flow
Full time employee equivalents 120 110 100 73 62 from operations
• Continued efforts to develop the
company, adding product and
commercial talentsKahoot! customer growth goals 2022
The goal to reach a customer base value exceeding $100m in 2022 is based on the
following assumptions:
80
Low range High range
60
40
20
0
Subscription Math curriculum Subscription Subscription Subscription per employee
At School At Home At Work
• 5-8% of Active Teachers • Increase Students on full • 600-800K subscriptions • 400-500K presenters • 500K employees on
on a paid subscription math curriculum to 200K converted from todays on paid subscriptions corporate learning
(400-600K) with • Monthly price $2-4 per Social accounts and • Monthly price $10-20 • Monthly price $1-5 per
increased active teacher student (ARR $5-9m) premium app purchases per user (ARR $54-72m) employee (ARR $10-15m)
base (free and paid) with • Monthly price $3-5 per
50% (7.5m) user (families) (ARR $25-
• Monthly price $3-5 per 38m)
teacher (ARR $18-28m)
Goals as presented June 2019Shareholders
overview 5%
4%
Kahoot! AS has a total of 129.4m common
shares and more than 3,000 shareholders. The 26%
shares are listed on Merkur Market on Oslo
Management and
Stock Exchange with ticker code KAHOOT-ME
15% employees
Institutional
investors
9%
16%
Other
(>3,000 investors)
12%
13%
Datum
Board of Directors Group
34%Kahoot! share Ticker
information Oslo Stock Exchange (Merkur Market): KAHOOT-ME
Reuters: KAHOOT-ME.OL
Bloomberg: KAHOOTME:NO
Number of shares: 129,359,496
Employee option pool: 8,230,000
Total no. of shares (fully diluted): 137,589,496
Free float: >95%
Share price (June 5, 2020): NOK 99.00
Average daily trading volume YTD (shares): 224,500
Market Cap total (June 5, 2020) NOK 12.8bnMake learning awesome
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