{
  "docId": "019de073-2a19-73aa-8cf8-64248dc2180b",
  "docSlug": "93d65730c5a1ec54cccafebd6b83ca79",
  "documentTitle": "Kinnevik | Results Presentation Deck | 46 slides",
  "authorId": "kinnevik",
  "authorName": "Kinnevik",
  "documentKindSlug": "shareholder-letter",
  "documentKindLabel": "Shareholder letter",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2022-07-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.4138439,
  "pageNumber": 30,
  "pageCount": 46,
  "prevPage": 29,
  "nextPage": 31,
  "slideType": "valuation_table",
  "function": "show_valuation_bridge",
  "density": "dense",
  "nDataPoints": 36,
  "notes": "The slide includes a detailed explanation of valuation methodology regarding NTM revenue multiples and liquidation preferences.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de073-2a19-73aa-8cf8-64248dc2180b/30",
  "deckHref": "/decks/019de073-2a19-73aa-8cf8-64248dc2180b",
  "deckJsonHref": "/decks/019de073-2a19-73aa-8cf8-64248dc2180b.json",
  "deckAnchorHref": "/decks/019de073-2a19-73aa-8cf8-64248dc2180b#slide-30",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.55,
        "x": 0.355,
        "y": 0.28
      },
      "kind": "chart",
      "text": "Waterfall chart showing Q1 2022 to Q2 2022 portfolio value bridge",
      "attrs": null,
      "subkind": "waterfall-bridge",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "db929f60-893f-42e3-b86e-57537e13ced6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.3,
        "x": 0.04,
        "y": 0.71
      },
      "kind": "paragraph",
      "text": "Kinnevik's unlisted investee companies adopt different financing structures and may at times issue shares with liquidation preference rights. Liquidation preferences determine how value is allocated between shareholders in e.g. a sale or listing of a business.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7bf22576-8585-4232-976d-d4ba65bb38cf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.3,
        "x": 0.04,
        "y": 0.23
      },
      "kind": "paragraph",
      "text": "peer group multiple contraction flow through our valuations without adjustment. We also increasingly focus on multiples of expected revenue over the next twelve months (\"NTM\") to deemphasize the direct weight of importance placed on more longer-term projections.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7c012a26-fa6c-48e1-8bb2-526587de6416",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.55,
        "x": 0.355,
        "y": 0.63
      },
      "kind": "table",
      "text": "Table comparing Investee Contraction vs Peer Contraction for Q2 2022 and H1 2022",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6ff14deb-dc29-46e2-a8d8-8416e209b3c9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.04,
        "y": 0.69
      },
      "kind": "title",
      "text": "LIQUIDATION PREFERENCES",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c885a315-64d9-4fa0-83a1-88677319f7b7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.15,
        "x": 0.355,
        "y": 0.6
      },
      "kind": "title",
      "text": "Multiple Contraction",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "da848e99-9d38-44db-a867-e4aba70e1b11",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.25,
        "x": 0.355,
        "y": 0.23
      },
      "kind": "title",
      "text": "Value Drivers in the Unlisted Portfolio",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "df626ea3-bee7-4144-a159-94a153e01afe",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall chart",
      "slug": "waterfall-chart",
      "agent": null,
      "layer": "slide",
      "matchId": "4cf6d6f2-ac73-4a54-8575-a1ec8d006830",
      "evidence": "chart/waterfall-bridge: Waterfall chart showing Q1 2022 to Q2 2022 portfolio value bridge",
      "confidence": 0.8
    }
  ],
  "frameworks": [
    {
      "name": "waterfall-bridge",
      "slug": null,
      "matchId": "b49ad228-a461-47fe-8698-439459435601",
      "evidence": "Waterfall chart showing value drivers",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 46,
      "from": 21,
      "beatId": "c08c0d92-7156-45f6-9439-c99257e56901",
      "arcName": "Monroe's Motivated Sequence",
      "arcSlug": "monroes-sequence",
      "beatName": "Visualization",
      "beatSlug": "monroes-sequence-visualization",
      "evidence": "The financial review and appendix provide detailed visualization of Kinnevik's performance.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}