18 February 2020 1H FY20 Results Investor presentation A S X
Agenda 1 2 3 4 Business Update: Financial Results: Outlook Q &A Delivering on strategy On track to achieve Strong growth ahead & growing ARR FY20 forecast G A R E T H R O B E R T S J E R O M Y W E L L S
O U R P U R P O S E Change the way the world communicates 3
O U R V I S I O N A world where organisations communicate like people 4
W E B E L I E V E Value is created, when people are engaged 5 5
O U R P R O M I S E Enabling you to master connection and engagement with other people at scale 6 6
Business Update: Delivering on strategy & growing ARR 7 7
$35 $35m Strong revenue retention of 116.1% $30 $30m Our customers are long-term & spend more over time $25 $25m $20 $20m $15 $15m m $10 $10m $5 $5m $0m $0 H1-09 H2-09 H1-10 H2-11 H1-12 H2-12 H1-13 H2-13 H1-14 H1-15 H1-16 H1-17 H2-17 H1-18 H1-19 H2-10 H1-11 H2-14 H2-15 H2-16 H2-18 H2-19 H1-20 Notes 8 1. *Cohort analysis excludes DBS Bank Singapore as a former customer, fluctuating transactional customers and one-off items such as paid proof of concepts.
Recurring revenues growing Asia & ANZ driving growth 22% Growth from 1H-FY19 $36.7m 1H FY20 annualised recurring revenue (ARR) 9
Increasing average customer ARR Prioritising growth & platform utilisation from existing 17% Growth customer base from 1H-FY19 $72.1k 509 customers
+25% MRR 1 Use Case Creating more 285 Customers 297 Customers high-value AVG MRR 285 Customers $2,852 AVG MRR AVG MRR $2,291 customers $2,265 1H FY 1H FY19 2H 2H FY FY19 1H FY 1H FY20 Strong organic growth from installed 2-3 Use Cases +15% MRR base – more users, modules & 164 Customers transactions 152 Customers 155 Customers AVG MRR AVG MRR $7,756 AVG MRR $7,239 $6,770 1H FY 1H FY19 2H 2H FY FY19 1H 1H FY FY20 4+ Use Cases +23% MRR 60 Customers 54 Customers 45 Customers AVG MRR AVG MRR $16,169 AVG MRR $15,694 $13,150 1H 1H FY FY19 2H 2H FY FY19 1H FY 1H FY20 11
Strong 1H FY20 Performance Significant revenue growth, reflecting strength of business >95% 26% ahead of prospectus forecast Recurring Revenue: 1H-FY20 Recurring $(4.8)m provides future revenue surety 62% 1H-FY20 EBITDA 26% Growth from 30 June 2019 1H-FY20 Gross Margin $222m 20% Growth 7.6x from 1H-FY19 Lifetime value of LTV/CAC Ratio customer base as at $18.2m (within target band 7x – 10x) 31 December 2019 1H-FY20 Revenue 12
Ambulance Victoria Delivering value for our customers “ Whispir’s platform has enabled us to improve the automation, personalisation and management of our internal and external communications with easy-to- integrate workflows. Over the years we’ve significantly increased our use of Whispir’s platform, growing from roster communications to volunteer coordination. - Jamie Barnes, Resource Management Improvement Lead ” 13
Strategic focus Scaling to support business growth, geographic expansion & innovation 14 14
Land & Expand 1 Diversity of use cases and applicable industries is a strength Financial Services Emergency Services Utilities & Infrastructure Local Government Federal Government Education IT, Telecoms & Media Healthcare Transport and Logistics Resources & Mining Consumer / Media / Technology 15
Land & Expand 1 Harnessing growth opportunities with existing customers Consumer Education Emergency Finance Government Healthcare IT, Telecoms & Media Resources & Mining Transport & logistics Utilities infrastructure 1 Use Case 2-3 Use Cases 4+ Use Cases 16
Large & diverse Targeted expansion in Asia 2 market opportunity Revenues Growth of 26% in 1H FY20 • On track to hit $6.5m in FY20 • Geographic Focus on Singapore and Indonesia • Expansion into Philippines and Thailand • Leveraging blue-chip reference customers • Partnerships New go-to-market strategy with Indonesian telco IndoSat Ooredoo • Increased sales capability with extended agent network • Channel partners in Partnering with established local brands • o Cost-effective acquisition of new customers this region include o Significantly reduces new market entry costs 17
New leadership & strategy to Investing in US market 3 increase market footprint Leadership Appointed Peter Gehl as VP Americas to drive growth • Highly experienced in enterprise software o New go-to-market strategy o Partnerships Reseller agreement with Carahsoft Technology • Shared go-to-market strategy with Vonage • AWS partnership • o AWS Partner Network Advanced Technology partner o Digital Customer Experience Competency Revenues Largest market opportunity • Revenue growing in FY21 • 18
Our partners 19
Investing in new interfaces, Innovation to drive growth 4 products & capabilities FY20 R&D investment $30m over the past four years Product Leadership • $30M in R&D activity over Brad Dunn appointed • four years Chief Product Officer $8.9m $8.4m • $4.4M in 1H FY20 Focus on platform • functionality $4.0m Expensed $3.5m Ongoing Delivered • Faster development • Whispir Store Capitalised $4.9m $4.9m of new products • Video Chat • AI & IoT FY 20 FY 20 F • Workflow interface (latest fcast view) Prospectus improvements 20
Building a high performance culture 5 Investing in people & culture Performance Enhanced Reshaping the Attracting & Career management leadership onboarding retaining top talent development framework capabilities across process all regions 21
Whispir leadership team Broadening leadership expertise Whispir’s board Senior leadership team Brendan Fleiter Sarah Morgan Independent Non-executive Director, Independent Non-executive Director Chair of the Board and Chair of the Nomination and Chair of Audit & Risk Committee & Remuneration Committee Brad Dunn Mathew Vine Dima Vovchak CPO Acting CTO Head of Group Services Jeromy Wells Sara La Mela Chief Executive Officer and Independent Non-executive Director Executive Director Shane Chesson Sophie Karzis Andrew Fry Peter Gehl Wayne Lee Non-Executive Director Company Secretary VP ASIA VP Americas VP ANZ Executive leadership Gareth Roberts Tobias Brix Daniel Cherin Guy Granger CFO COO Group People & Head of Solution Culture Manager Architecture 22
Financial results: On track to achieve FY20 forecast 23
Financial Performance 1H FY20 1H FY19 YOY Change ($m’s) ($m’s) (%) Robust delivery of strategy, Software revenue 17.4 14.1 24% increasing revenue Professional services revenue 0.8 1.0 (25%) 18.2 18 15.1 15 20 20% Revenue Software Revenue Growth of 24% YOY • 11. 11.3 9. 9.6 17% 17 Gross Margin Gross margins of 62% • EBITDA $1.6m ahead of prospectus • Gross Margin % 62% 64% (1.9pp) Sales and marketing (7.0) (6.4) (9%) Research and development (2.1) (2.2) 6% General and administration (7.0) (6.1) (13%) (1 (16.0) (1 (14.6) (9 (9%) Total operating expenses (4.8) (5.0) 5% EBITDA Depreciation and amortisation (1.1) (0.8) (30%) (5.9) (5.8) (2%) EBIT 24
Driving growth through the platform Network effect within customers driving transaction & revenue growth 1H-20 Revenue Composition 1H-20 Revenue Growth PCP 40% 32% Platform revenue 4% Transactional revenue 30% Services 33% % R E V E N U E C H A N G E 20% 10% Group 10% Revenue 18.2m 0% Platform Services Transactional revenue revenue -10% 63% -20% -25% -30% 25
Balance Sheet A$(‘m) Statutory Well funded for growth 31 December 2019 Assets Current assets 19.1 The IPO provides a well Cash and cash equivalents 4.4 Trade and other receivables capitalised Balance Sheet. 4.0 Prepayments and other current assets 27.5 Total current assets 11.0 Non-current assets 38.5 Total assets Liabilities Current liabilities (11.4) Total current liabilities (4.4) Total non-current liabilities (15.8) Total liabilities 22.7 Net (liability)/assets 26
Improving operational R&D (Cash Spend) leverage 29.7% 26.1% 24.6% 22.2% Revenue growth exceeding expenses 1H 19 FY 19 1H 20 FY 20F S&M G&A 42.2% 42.3% 42.4% 38.3% 40.3% 41.0% 35.4% 33.7% 1H 19 FY 19 1H 20 FY 20F 1H 19* FY 19* 1H 20 FY 20F *FY19 ProForma numbers 27
eHealth Queensland eHealth Queensland utilised the Whispir platform to streamline its password reset process, reducing service desk calls by 25,000 hours and saving the organisation $1m. “ One of our biggest challenges was every long weekend, after any school holidays, we would be inundated because people forgot their passwords. We made customers go through multiple steps, now we’ve streamlined that process. That has saved us quite significant call volumes coming through our service desk. ” - eHQ Chief Customer Experience Officer Michael Berndt 28
Strong growth 29
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