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  "documentTitle": "Adtheorent | SPAC Presentation Deck | 45 slides",
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  "authorName": "Adtheorent",
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      "text": "1. Track record of growth – revenue has nearly doubled since 2017\n2. Demonstrated operating leverage – Adj. EBITDA growth outpacing Revenue ex-TAC\n3. Resilient business model with key verticals growing a combined 30% in 2020\n4. Capital efficient, strong cash flow conversion to fund continued growth",
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      "text": "~$525K Revenue per Employee (LTM Q1 2021)",
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      "text": "$83.3M Gross Profit (2021P)",
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      "text": "30% Adjusted EBITDA Margin (2021P)",
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      "text": "$1.2M+ Average Client Spend (LTM Q1 2021)",
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      "text": "56% Revenue ex-TAC Growth (1H 2021P)",
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      "text": "28% Revenue ex-TAC CAGR (2021P – 2023P)",
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      "text": "$102.4M Revenue ex-TAC (2021P)",
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      "text": "$30.6M Adj. EBITDA (2021P)",
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      "text": "243 # of Employees (Q1 2021)",
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      "text": "Sources: Factset. Note: Market data as of May 5, 2021. (1) Metric excludes media inventory and other costs related to AdServing, AdVerification, Data providers, and Research from gross revenue. (2) See appendix for EBITDA to Adj. EBITDA reconciliation. (3) Calculated on a Revenue ex-TAC basis.",
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