Telenav | Transforming Life on the Go

PROPRIETARY AND CONFIDENTIAL © 2020

Telenav | Transforming Life on the Go

Telenav, Inc. (NASDAQ: TNAV)Investor Presentation

March 2020


This supplemental investor presentation contains forward-looking statements that are based on Telenav management’s beliefs and assumptions and on information currently available to its management. Actual events or results may differ materially from those described in this document due to a number of risks and uncertainties. These potential risks and uncertainties include, among others: Telenav’s ability to achieve future revenue currently estimated under customer engagements, Telenav’s ability to develop and implement products for Ford, GM and Toyota and to support Ford, GM and Toyota and their customers; the impact of GM’s recent announcement regarding its partnership with Google Automotive Services and Ford’s recent announcement regarding the elimination of various sedans in North America over the near term; the impact of tariffs on sales of automobiles in the United States and other markets; Telenav’s success in extending its contracts for current and new generation of products with its existing automobile manufacturers and tier ones, particularly Ford and GM; Telenav’s ability to achieve additional design wins and the delivery dates of automobiles including Telenav’s products; adoption by vehicle purchasers of Scout GPS Link, VIVID and Telenav’s in-car commerce offerings; Telenav’s ability to demonstrate internal controls over financial reporting and disclosures, including as it may relate to our recognition of revenue; Telenav’s dependence on a limited number of automobile manufacturers and tier ones for a substantial portion of its revenue and the impact of labor stoppages on those automobile manufacturers’ and tier ones’ ability to produce vehicles; reductions in demand for automobiles; potential impacts of automobile manufacturers and tier ones including competitive capabilities in their vehicles such as Apple CarPlay, GAS and Android Auto; Telenav’s continued reporting of losses and operating expenses in excess of expectations; Telenav’s ability to acquire certification for automobile SPICE and other contractual obligations with customers; failure to reach agreement with customers for awards and contracts on products and services in which Telenav has expended resources developing; competition from other market participants who may provide comparable services to subscribers without charge; the timing of new product releases and vehicle production by Telenav’s automotive customers, including inventory procurement and fulfillment; possible warranty claims, and the impact on consumer perception of its brand; Telenav’s ability to perform under its initiatives with Amazon and Microsoft and benefit from those initiatives; the potential that Telenav may not be able to realize its deferred tax assets and may have to take a reserve against them; Telenav’s reliance on its automobile manufacturers for volume and royalty reporting; the impact on revenue recognition and other financial reporting due to the amendment of contracts or changes in accounting standards; and macroeconomic and political conditions in the U.S. and abroad, in particular China. Telenav discusses these risks in greater detail in “Risk Factors” and elsewhere in its Form 10-K for the fiscal year ended June 30, 2019 and other filings with the U.S. Securities and Exchange Commission (“SEC”), which are available at the SEC’s website at www.sec.gov. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-looking statements represent management’s beliefs and assumptions only as of the date made. You should review the company’s SEC filings carefully and with the understanding that actual future results may be materially different from what Telenav expect.

2

Forward-looking Statements


Use of Non-GAAP Financial MeasuresTelenav prepares its financial statements in accordance with generally accepted accounting principles for the United States, or GAAP. The non-GAAP financial measures such as billings, change in deferred revenue, change in deferred costs, adjusted EBITDA, and free cash flow included in this supplemental investor presentation are different from those otherwise presented under GAAP. Telenav has provided these measures in addition to GAAP financial results because management believes these non-GAAP measures help provide a consistent basis for comparison between periods that are not influenced by certain items and, therefore, are helpful in understanding Telenav’s underlying operating results. These non-GAAP measures are some of the primary measures Telenav’s management uses for planning and forecasting. These measures are not in accordance with, or an alternative to, GAAP and these non-GAAP measures may not be comparable to information provided by other companies.

To reconcile the historical GAAP results to non-GAAP financial metrics, please refer to the reconciliations in the financial tables included in this supplemental investor presentation.

Billings equals GAAP revenue recognized plus the change in deferred revenue from the beginning to the end of the applicable period. In connection with its presentation of the change in deferred revenue, Telenav has provided a similar presentation of the change in the related deferred costs. Such deferred costs primarily include costs associated with third party content and certain development costs associated with its customized software solutions whereby customized engineering fees are earned. As the company enters into more hybrid and brought-in navigation programs, deferred revenue and deferred costs become larger components of its operating results, so Telenav believes these metrics are useful in evaluating cash flows.

Telenav considers billings to be a useful metric for management and investors because billings drive revenue and deferred revenue, which is an important indicator of its business. There are a number of limitations related to the use of billings versus revenue calculated in accordance with GAAP. First, billings include amounts that have not yet been recognized as revenue or cost and may require additional services or costs to be provided over contracted service periods. For example, billings related to certain brought-in solutions cannot be fully recognized as revenue in a given period due to requirements for ongoing map updates and provisioning of services such as hosting, monitoring, customer support and, for certain customers, additional period content and associated technology costs. Second, we may calculate billings in a manner that is different from peer companies that report similar financial measures, making comparisons between companies more difficult. Accordingly, when Telenav uses this measure, it attempts to compensate for these limitations by providing specific information regarding billings and how they relate to revenue calculated in accordance with GAAP.

Adjusted EBITDA measures GAAP net income/loss adjusted for discontinued operations and excluding the impact of stock-based compensation expense, depreciation and amortization, other income (expense) net, provision (benefit) for income taxes, and other applicable items such as legal settlements and contingencies and merger and acquisition, or M&A, transaction expenses, net of tax. Stock-based compensation expense relates to equity incentive awards granted to its employees, directors, and consultants. Legal settlements and contingencies represent settlements, offers made to settle, or loss accruals relating to litigation or other disputes in which Telenav is a party or the indemnitor of a party. M&A transaction expenses relate primarily to costs associated with transactions, such as the inMarket Transaction and the Grab Transaction.

Adjusted EBITDA, while generally a measure of profitability, can also represent a loss. Adjusted EBITDA is a key measure Telenav uses to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term operational plans. In particular, Telenav believes that the exclusion of the expenses we eliminate when calculating adjusted EBITDA can provide a useful measure for period-to-period comparisons of Telenav’s core business. Accordingly, Telenav believes that adjusted EBITDA generally may provide useful information to investors and others in understanding and evaluating our operating results in the same manner as Telenav does.

Free cash flow is a non-GAAP financial measure Telenav defines as net cash provided by (used in) operating activities, less purchases of property and equipment. Telenav considers free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash (used in) generated by its business after purchases of property and equipment.

In this supplemental investor presentation, Telenav has provided guidance for the third quarter of fiscal 2020 on a non-GAAP basis for billings and adjusted EBITDA. Telenav does not provide reconciliations of these forward-looking non-GAAP financial measures to the corresponding GAAP measures due to the high variability and difficulty in making accurate forecasts and projections with respect to deferred revenue, deferred costs, stock-based compensation and tax provision (benefit), which are components of these non-GAAP financial measures. In particular, stock-based compensation is impacted by future hiring and retention needs, as well as the future fair market value of Telenav’s common stock, all of which is difficult to predict and subject to constant change. The actual amounts of these items will have a significant impact on Telenav’s net income/loss per diluted share and tax provision (benefit). Accordingly, reconciliations of Telenav’s forward-looking non-GAAP financial measures to the corresponding GAAP measures are not available without unreasonable effort.

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Telenav | Market Stats

4

Symbol: TNAV

Exchange: NASDAQ

Price (close on 5/28/20) : $5.05

Shares Outstanding (mm): 47.29

Market Cap (mm): $239

Cash and cash equivalents (mm)(as of 3/31/2020)

~$124

Enterprise Value (mm): $115

Equity Investments (mm): $32M


Telenav | Purpose of our Existence

5

Make peoples’ lives on the go less stressful, more productive and more fun


Telenav | Product Portfolio

6

In-Car Software & Services

NavigationADASVIVID

In-Car Commerce & Communication

QSR to Insurance

Road Intelligence

OpenTerraRoadSense


Telenav | The Evolution


Telenav History

8

Telenav foundedin Silicon Valley

Launched world’s first mobile phone navigation with Nextel

IPO on Nasdaq

Won first auto deal with Ford

Launched first connected /embedded navigation on GM

Positive adjusted cash flow in Q2 FY19

Open Terra deal with ride hailing leaderGrab

Mobile Navigation Connected Cars

1999 2002 2010 2011 2015 2017 2019 2020

Launched brought-in solution on select Toyota models

First positive EBITDA in Q1 FY20

Telenav | History


Telenav | Successful Transition

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» Mobile Nav to Automotive

0

50

100

150

200

250

FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19

Billi

ngs $

M

Mobile Nav

0

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100

150

200

250

300

FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19

Billi

ngs $

M

Total

0

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150

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FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19

Billi

ngs $

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Auto


Telenav | Moving Forward


Connected Cars Market | Industry Trends & Our aligned StrategyThree major trends driving accelerated momentum in the connected car space

Vehicle Data Monetization

In-Vehicle Infotainment

Navigation

Growing navigation customer base

Beachhead, Win market share

Increasing demand for integrated &

seamless infotainment

solution across all interfaces

Full IVI VIVIDTM

Emerging business model to monetize the fourth screen and vehicle data

$500B market:restaurants, gas,

coffee & insurance

ICC


Building momentum via our flywheel strategy, with laser focus on three growth engines to capture +$500B* TAM (2030 est.)

» Location Based Intelligence (LBI)

» Big Data + AI

T E L E N A VC O N N E C T E D

C A R P L A T F O R M

Increase ARPU

Margin Expansion with Higher Quality Service

Serv

e M

ore

Cars

* Source: McKinsey Report--Monetizing Car Data, Sept. 2016

Connected Car Platform Strategy | Build, Partner & Strategic Investment


1) Our Target Markets 2) Product-first Culture 3) OEM-aligned Business Model

ENTER & BLOCK

GROW & BLOCKDEFEND & EXPAND

LAND & EXPAND

A n d r o i d ( 3 0 - 3 5 % )

Q N X / L i n u x ( 6 5 - 7 0 % )

Lo

w(7

0%

)H

igh

(30

%)

Launch an industry-leading aftermarket

infotainment product

» Data Ownership

» Full flexibility to differentiate

» Built-in ‘digital’ revenue share

Source: * McKinsey Report--Monetizing Car Data, Sept. 2016, ** https://www.statista.com/statistics/233743/vehicle-sales-in-china/

Prove out

» Delightful experience

» Business Models

Telenav Strategy | To Win in the Connected Car Arena (Expected to be a $500 Billion market by 2030)*


1. In-Car Software & Services

Beyond Navigation with Full In-car Infotainment System: Vivid

» Superior services for those using smartphones – seamless integration across all screens / functions

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Always up-to-date maps and navigation software

Lane level live traffic and guidance

Augmented Reality (AR) navigation

Electric Vehicle (EV) trips and charge stops

Remaining EV range based on topography

Autonomous friendly routing

Advanced Driver Assistance Systems (ADAS) integration


1. In-Car Software & Services

Huge navigation & infotainment market opportunity with sizable market segments to address:Connected cars market is expected to be $500+ billion by 2030*

» 60-70% of lower trim (QNX) market up for grabs - to be addressed by VIVID infotainment solution

» Chinese market - larger than U.S. with annual unit car sales of about 25 million per year*

» Higher trim vehicle navigation/infotainment market will become available as VIVID infotainment solution functionality is enhanced and offers a full stack

» Niche market opportunities – Telenav can serve sizeable niche market segments, such as fleet management, aftermarket, etc.

15Source: * McKinsey Report--Monetizing Car Data, Sept. 2016, ** https://www.statista.com/statistics/233743/vehicle-sales-in-china/


2. In-Car Commerce & Communication

» Successful proofs of concept

» Turnkey solutions for OEMs

» Focused on building the ecosystem» Minority stake – Motion Auto

» Partnership with Synq3 to gain access to thousands of restaurants» First ICC win with a Japanese OEM 16


ICC | Focus Areas» Access to leading brands in a safe and convenient manner

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ICC

Coffee

Order, grab & go

Restaurants

Get your favorite meal

Parking

Find closest parking spot

Gas

Fill-up with cheapest gas

Insurance

Drive safe & save money


3. Road Intelligence

» Live maps

» Road scoring & road condition services

» Networked parking

» Driving style suggestions

» Core AI to detect street signs and potholes

» Minority stake in moove.ai

» Currently leveraged by Grab, Toyota, Mercedes and Bosch

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Grab: Southeast Asia's leading ride-hailing platform

Huge road intelligence market opportunityConnected cars market is expected to be $500+ billion by 2030*

Source: * McKinsey Report--Monetizing Car Data, Sept. 2016


Telenav | Investment Thesis


Investment Thesis | Why Invest?

» Deeply discounted enterprise value of $115

ü Record high cash position -$124M in total quarter-end cash on hand (cash, cash equivalents, and short-term investments)

ü Equity investments made in multiple companies to date of approximately $32M

» Sustainable revenue stream from existing customer relationships – approximately $1 billion in revenue from existing customer engagements (approximately 75% to be realized by FY2023)1

» Pursuing 6 distinct large growth opportunities to capitalize on the $500B connected car market (est. by 2030*) with some recent initial success

» Solid financial results, 3rd consecutive quarter of double-digit growth and positive non-GAAP adjusted EBITDA

ü $64M in revenue, up 33% YoYü $1.6M in non-GAAP adjusted EBITDA, +$4.8M YoY

201: as of 3/31/20

* McKinsey Report--Monetizing Car Data, Sept. 2016


Backlog From Existing Customer Engagements Provides line of sight into sustainable revenue streams

Expect to convert approx. 75% of backlog from H2FY20 through FY23 into revenue

~$1BAs of 12/31/19

- Backlog figures are Non-GAAP, and are based upon management estimates of future vehicle shipments with Telenav solutions for current contracted programs being delivered or contracted for future delivery to our customers- Backlog are subject to several factors, including but not limited to, the number and timing of vehicles our customers ship with Telenav solutions, potential terminations or changes in scope of our customer relationships and several macro and micro economic factors- Estimates do not include new programs with existing customers, new programs with new customers nor new products or business models such as VIVID, ICC or any aftermarket offerings- Management estimates as of February 6, 2020

Does not include

» Any new OEMs that are in the pipeline

» Increase in share of wallet within existing OEMs

» In-Car Commerce

» VIVID offerings including aftermarket play

» Any new business models such as auto insurance

PROPRIETARY AND CONFIDENTIAL © 2020 22

Win New OEM’s

Increase share of wallet within exiting customers

VIVID as an embedded platform for OEMs

In-Car Commerce

Aftermarket all-in-one VIVID solution

Monetize large & growing installed base (Data Products)

12

34

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135M commuters creating $212B in annual commerce through highly connected & digital drive1

1 http://www.automotivebusiness.com.br/abinteligencia/pdf/TheDigitalDriveReport-January2018.pdf2 McKinsey Report--Monetizing Car Data, Sept. 2016, ** https://www.statista.com/statistics/233743/vehicle-sales-in-china/

Connected cars market is expected to be $500+

billion by 20302

Growth Opportunities | Short to Medium TermHuge navigation & infotainment market opportunity with sizable market segments to address

22


Telenav TAM by 2030* | $500B+

» Software and Services + Car Data Enables Services for Connected Cars

» Targeted ads/commerce

» Road condition services

» Warranty cost reduction

» Fleet management

» Predictive maintenance

» Usage monitoring and scores

» Early recall detection

» Networked parking

» Driving style suggestions

» Usage-based insurance

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TAM: Car Data Enabled Services

Source: McKinsey Report--Monetizing Car Data, Sept. 2016

$550 Billion by 2030*


Huge Installed Base | Powering 27M+ Autos with 19M Connected

» 55% CAGR for last 3.75 years

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0

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Q1FY17

Q2FY17

Q3FY17

Q4FY17

Q1FY18

Q2FY18

Q3FY18

Q4FY18

Q1FY19

Q2FY19

Q3FY19

Q4FY19

Q1FY20

Q2FY20

Q3FY20

Number of Connected Cars Powered By TelenavCars (M)

55% CAGR


Telenav | Q3 FY20 Earnings


$124M in cash, strong position even after $11M of share repurchases and equity investments in the quarter» Equity investments made in multiple companies of approximately $32M» Cash position and equity investments represent approximately 75% of TNAV’s Market Cap at end of quarter

Key Messages I Q3 FY20

Continued to execute on our connected car platform strategy to capitalize on the $500B connected car market» Solid progress in the In-Car Commerce space

q Completed investment in Synq3, providing access to thousands of restaurants and further build our ICC ecosystem

q Completed additional investment with MotionAuto as we continue partnering and making progress on insurance solutions

» Closed Europe Vivid after-market deal with Alpine

Solid financial results, 3rd consecutive quarter of double-digit growth and positive non-GAAP adjusted EBITDA» $64M in revenue, up 33% YoY» $1.6M in non-GAAP adjusted EBITDA, +$4.8M YoY

2

Covid-19 Impact - immediate to short term outlook remains uncertain, but our priorities remains the same » Top priorities remain – customer delivery, health and safety of employees, operational discipline and cash preservation

» In the near term, TNAV also is driving operational efficiencies via IT transformation and spend mitigation across all areas

1

4

3

Key Messages I Q3 FY20Delivered another solid quarter & remained focused on executing our connected car strategy for sustainable growth and value creation


Key Metrics | Q3 FY201

Billings2

$64M-2% YoY-13% QoQ

Revenue3

$64M+33% YoY

-13% QoQ

Total Installed Base

28M+25% YoY

+5% QoQ

Total Cash on Hand4

$124M+43% YoY

-4% QoQ

Adjusted EBITDA2

$2M+$5M YoY-$13M QoQ

FCF2

$7M+$6M YoY

-$5M QoQ

Connected Cars

19M+40% YoY

+7% QoQ

OPEX3

47% of Rev

-9 pts YoY+9 pts QoQ

Gross Margin %3

45%+1 pts YoY

-9 pts QoQ

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2

3

4

5

6

7

8

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1 Adjusted for discontinued operations for all periods2 Non-GAAP measure – see Financial Tables for reconciliation of GAAP to Non-GAAP3 GAAP measure4 Includes cash, cash equivalents, and short-term investments

Grew revenue, expanded gross margin, and grew installed base

- Please refer to the financial tables at the back of this presentation and Telenav’s Investor Relations website for the latest SEC filings


Performance Overview Breakdown | Q3 FY201

ØDelivered a solid revenue quarter while expanding gross margins

Ø Total revenue of $64.5M, up 33% Y/Y; Gross Margin of 45% up 1.5pts Y/Y

Ø Product revenue of $52.1M, up 25% Y/Y; Gross Margin of 47% up 3.3pts Y/Y

Ø Services revenue of $12.4M up 82% Y/Y; Gross Margin of 37% down 6.0pts Y/Y

Ø Services business represented 19% of the overall revenue mix

Revenue

$52.1 million +25% y/y, -15% q/q

Gross profit

$24.4 million47% of revenue,+3.3 pts y/y, -10.1 pts q/q

Revenue

$12.4 million +82% y/y, +0% q/q

Gross profit

$4.5 million37% of revenue, -6.0 pts y/y, -4.3 pts q/q

Product

Services

81%

19%

Product

ServicesRevenue MixRevenue

$64.5 million +33% y/y, -13% q/q

Gross profit

$29.0 million45% of revenue,+1.5 pts y/y, -9.4 pts q/q

Telenav Total Company

Key Highlights

Substantial product and services revenue growth

All measures above are GAAP1 Adjusted for discontinued operations for all periods

- Please refer to the financial tables at the back of this presentation and Telenav’s Investor Relations website for the latest SEC filings


Key Financial Metrics | YoY, QoQ

Revenue ($m) Billings ($m)

- Revenue is a GAAP measure- Billings is a non-GAAP measure- Adjusted for discontinued operations for all periods

Significant year-over-year growth in revenue, total cash on hand, and free cash flow

Total Cash on Hand ($m)

- Both charts represent Non-GAAP measures- Total Cash on Hand includes cash, cash equivalents, and short-term investments-Adjusted for discontinued operations for all periods

Free Cash Flow ($m)

$48.5

$73.9

$64.5

Q3 FY20Q2 FY20Q3 FY19

$64.6

$72.7

$63.5

Q3 FY19 Q2 FY20 Q3 FY20

$86.5

$129.0$123.7

Q3 FY19 Q2 FY20 Q3 FY20

$0.7

$11.7

$6.9

Q3 FY20Q3 FY19 Q2 FY20- Please refer to the financial tables at the back of this presentation and Telenav’s Investor Relations website for the latest SEC filings


Contact UsAdeel Manzoor, Chief Financial Officer

4655 Great America Parkway, Suite 300Santa Clara, CA 95054Phone: 408-876-8786Email: [email protected]


Telenav | Financial Tables


March 31, June 30, March 31, June 30,2020 2019 2020 2019

Assets Liabilities and stockholders’ equityCurrent assets: Current liabilities:

Cash and cash equivalents 16,476$ 27,275$ Trade accounts payable 24,082$ 16,061$ Short-term investments 107,273 72,203 Accrued expenses 36,208 48,899Accounts receivable, net of allowances of $6 and $7 at March 31, 2020 and June 30, 2019, respectively 41,926 69,781 Operating lease liabilities 3,161 - Restricted cash 1,541 1,950 Deferred revenue 43,841 31,270Deferred costs 29,744 18,752 Income taxes payable 537 800Prepaid expenses and other current assets 3,477 3,784 Liabilities of discontinued operations - 3,373Assets of discontinued operations, non-current - 6,330 Total current liabilities 107,829 100,403

Total current assets 200,437 200,075 Deferred rent, non-current - 1,266Property and equipment, net 5,411 5,583 Operating lease liabilities, non-current 5,785 - Operating lease right-of-use assets 7,909 - Deferred revenue, non-current 99,361 103,865Deferred income taxes, non-current 1,081 998 Other long-term liabilities 667 811Goodwill and intangible assets, net 14,255 15,701 Liabilities of discontinued operations, non-current - 30Deferred costs, non-current 52,954 61,050 Commitments and contingencies - - Other assets 33,504 1,414 Stockholders’ equity:Assets of discontinued operations, non-current - 12,194 Preferred stock, $0.001 par value: 50,000 shares authorized; no shares issued or outstanding - -

Total assets 315,551$ 297,015$ Common stock, $0.001 par value: 600,000 shares authorized; 47,288 and 46,911 shares issued and outstanding at March 31, 2020 and June 30, 2019, respectively 47 47Additional paid-in capital 189,387 182,349Accumulated other comprehensive loss (2,004) (1,477)Accumulated deficit (85,521) (90,279)Total stockholders’ equity 101,909 90,640

Total liabilities and stockholders’ equity 315,551$ 297,015$

Telenav, Inc.Condensed Consolidated Balance Sheets

(in thousands, except par value)(unaudited)


2020 2019 2020 2019

Revenue:

Product 52,106$ 41,723$ 169,639$ 124,050$

Services 12,390 6,817 35,361 20,902

Total revenue 64,496 48,540 205,000 144,952

Cost of revenue:

Product 27,664 23,532 86,087 72,135

Services 7,859 3,917 20,009 11,762

Total cost of revenue 35,523 27,449 106,096 83,897

Gross profit 28,973 21,091 98,904 61,055

Operating expenses:

Research and development 21,617 19,322 61,997 55,580

Sales and marketing 2,166 2,167 6,246 5,535

General and administrative 6,403 5,523 20,118 16,694

Legal settlements and contingencies - - - 650

Total operating expenses 30,186 27,012 88,361 78,459

Income (loss) from operations (1,213) (5,921) 10,543 (17,404)

Other income, net 1,088 581 2,245 2,703Income (loss) from continuing operations before provision for income taxes (125) (5,340) 12,788 (14,701)

Provision for income taxes 505 194 1,121 1,036

Equity in net (income) loss of equity method investees 103 - (694) -

Income (loss) from continuing operations (733) (5,534) 12,361 (15,737)

Discontinued operations:

Income (loss) from operations of Advertising business, net of tax - (1,947) 832 (3,895)

Loss from sale of Advertising business - - (4,874) -

Loss on discontinued operations - (1,947) (4,042) (3,895)

Net income (loss) (733)$ (7,481)$ 8,319$ (19,632)$

Basic income (loss) per share:

Income (loss) from continuing operations (0.02)$ (0.12)$ 0.26$ (0.35)$

Loss on discontinued operations - (0.04) (0.08) (0.09)

Net income (loss) (0.02)$ (0.16)$ 0.17$ (0.43)$

Diluted income (loss) per share:

Income (loss) from continuing operations (0.02)$ (0.12)$ 0.25$ (0.35)$

Loss on discontinued operations - (0.04) (0.08) (0.09)

Net income (loss) (0.02)$ (0.16)$ 0.17$ (0.43)$

Weighted average shares used in computing income (loss) per share

Basic 47,902 45,585 48,053 45,347

Diluted 47,902 45,585 49,022 45,347

March 31, March 31,Nine Months Ended

Telenav, Inc.Condensed Consolidated Statements of Operations

(in thousands, except per share amounts)(unaudited)

Three Months Ended


2020 2019 2020 2019Operating activities Investing activitiesNet income (loss) 8,319$ (19,632)$ Purchases of property and equipment (1,320) (956)

Loss on discontinued operations 4,042 3,895 Purchases of short-term investments (67,347) (31,044)

Income (loss) from continuing operations 12,361 (15,737) Purchases of long-term investments (9,500) -

Adjustments to reconcile net income (loss) to net cash provided by operating activities: Proceeds from sales and maturities of short-term investments 31,789 34,214

Stock-based compensation expense 5,189 5,611 Net cash provided by (used in) investing activities (46,378) 2,214

Depreciation and amortization 2,685 2,982 Financing activitiesOperating lease amortization net of accretion 2,153 - Proceeds from exercise of stock options 8,390 1,356

Accretion of net premium on short-term investments 157 (15) Tax withholdings related to net share settlements of restricted stock units (1,230) (1,831)

Unrealized gain on non-marketable equity investments - (1,260) Repurchase of common stock (9,353) (1,303)

Equity in net income of equity method investees (694) - Net cash used in financing activities (2,193) (1,778)

Gain on sale of intellectual property and workforce to Grab (45) Effect of exchange rate changes on cash, cash equivalents and restricted cash (343) (401)

Non-cash revenue associated with grant of perpetual license to Grab (5,831) - Net increase (decrease) in cash, cash equivalents and restricted cash, continuing operations (7,233) 6,224

Other (38) (22) Net cash used in discontinued operations (3,975) (3,154)

Changes in operating assets and liabilities: Cash, cash equivalents and restricted cash, beginning of period 29,225 20,099

Accounts receivable 28,334 (11,581) Cash, cash equivalents and restricted cash, end of period 18,017$ 23,169$

Deferred income taxes (110) 209 Supplemental disclosure of cash flow informationDeferred costs (2,924) (13,934) Income taxes paid, net 1,626$ 730$

Prepaid expenses and other current assets 1,463 (162)

Non-cash investing: Investment in Market Media LLC acquired in exchange for sale of

Advertising business 15,600$ -$

Other assets (21) (123) Non-cash sale of assets to Grab in exchange for equity investment and software 7,012$ -$

Trade accounts payable 7,913 12,020 Cash flow from discontinued operations:

Accrued expenses and other liabilities (13,910) (1,728) Net cash used in operating activities (3,569)$ (3,154)$

Income taxes payable (252) 160 Net cash used in financing activities (406) -

Deferred rent - 488 Net cash transferred from continuing operations 3,975 3,154

Operating lease liabilities (2,791) - Net change in cash and cash equivalent from discontinued operation - -

Deferred revenue 8,042 29,281 Cash and cash equivalent of discontinued operations, beginning of period - -

Net cash provided by operating activities 41,681 6,189 Cash and cash equivalent of discontinued operations, end of period -$ -$

Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets

Cash and cash equivalents 16,476$ 21,254$

Restricted cash 1,541 1,915

Total cash, cash equivalents and restricted cash 18,017$ 23,169$

Nine Months EndedMarch 31,

Telenav, Inc.Condensed Consolidated Statements of Cash Flows

(in thousands)(unaudited)



2020 2019 2020 2019

Revenue 64,496$ 48,540$ 205,000$ 144,952$ Adjustments:

Change in deferred revenue (969) 16,047 8,067 29,281Billings 63,527$ 64,587$ 213,067$ 174,233$

Nine Months Ended

March 31,March 31,

Telenav, Inc.

Unaudited Reconciliation of Non-GAAP Adjustments

(in thousands)

Reconciliation of Revenue to Billings

Three Months Ended

2020 2019 2020 2019Deferred revenue, end of period 143,202$ 103,819$ 143,202$ 103,819$

Deferred revenue, beginning of period 144,171 87,772 135,135 74,538

Change in deferred revenue (969)$ 16,047$ 8,067$ 29,281$

Deferred costs, end of period 82,698$ 72,359$ 82,698$ 72,359$

Deferred costs, beginning of period 81,763 65,465 79,802 58,425

Change in deferred costs(1)935$ 6,894$ 2,896$ 13,934$

(1) Deferred costs primarily include costs associated with third-party content and in connection with certain customized software solutions, the costs incurred to develop those solutions. We expect to incur additional costs in the future due to requirements to provide ongoing map updates and provisioning of services such as hosting, monitoring, customer support and, for certain customers, additional period content and associated technology costs.

Nine Months Ended March 31,

Three Months Ended March 31,

Telenav, Inc.Unaudited Reconciliation of Non-GAAP Adjustments

(in thousands)Reconciliation of Deferred Revenue to Change in Deferred Revenue

Reconciliation of Deferred Costs to Change in Deferred Costs


2020 2019 2020 2019

Net income (loss) (733)$ (7,481)$ 8,319$ (19,632)$ Loss on discontinued operations - 1,947 4,042 3,895Income (loss) from continuing operations (733) (5,534) 12,361 (15,737)

Adjustments:Legal settlement and contingencies - - - 650Stock-based compensation expense 1,959 1,688 5,189 5,611 Depreciation and amortization expense 829 966 2,685 2,982 Other income, net (1,088) (581) (2,245) (2,703) Provision for income taxes 505 194 1,121 1,036 Equity in net (income) loss of equity method investees 103 - (694) -

Adjusted EBITDA 1,575$ (3,267)$ 18,417$ (8,161)$

Three Months Ended


(in thousands)Reconciliation of Net Income (Loss) to Adjusted EBITDA

March 31,Nine Months Ended

March 31,


2020 2019 2020 2019

Net income (loss) (733)$ (7,481)$ 8,319$ (19,632)$ Loss on discontinued operations - 1,947 4,042 3,895 Income (Loss) from continuing operations (733) (5,534) 12,361 (15,737)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Change in deferred revenue (1) (994) 16,047 8,042 29,281Change in deferred costs (2) (963) (6,894) (2,924) (13,934)Changes in other operating assets and liabilities 11,904 (5,019) 20,626 (717)Other adjustments (3) (2,046) 2,630 3,576 7,296

Net cash provided by operating activities 7,168 1,230 41,681 6,189Less: Purchases of property and equipment (242) (511) (1,320) (956)

Free cash flow 6,926$ 719$ 40,361$ 5,233$

(3) Consist primarily of depreciation and amortization, stock-based compensation expense and other non-cash items.

(1) Consists of product royalties, customized software development fees, service fees and subscription fees.


(in thousands)Reconciliation of Net Income (Loss) to Free Cash Flow


(2) Consists primarily of third party content costs and customized software development expenses.

Three Months EndedMarch 31,

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Telenav | Transforming Life on the Go

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