2018 Annual Results Investor Presentation Daniel Rabie (CEO) And - - PowerPoint PPT Presentation

2018 annual results investor presentation
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2018 Annual Results Investor Presentation Daniel Rabie (CEO) And - - PowerPoint PPT Presentation

2018 Annual Results Investor Presentation Daniel Rabie (CEO) And Paul Haworth (CFO) Daniel Rabie Paul Haworth CEO From 2017 CFO From 2017 2015 to 2017: COO of Reckon (ASX:RKN) 7 years in senior corporate and operational fjnance with revenues


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2018 Annual Results Investor Presentation

Daniel Rabie (CEO) And Paul Haworth (CFO)

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Daniel Rabie Paul Haworth

CEO From 2017 CFO From 2017

2015 to 2017: COO of Reckon (ASX:RKN) with revenues to A$97.8m in 2016, leading Development, Marketing and HR. 2010 - 2015: Strategic Director at Reckon. Guiding company direction across multiple geographies and product categories. 10 years experience in the sofuware industry. Founder of numerous startup businesses. Proud father of 2. 7 years in senior corporate and operational fjnance roles with UK listed groups. Previously EMEA Finance Director for Dialight plc. 9 years with Deloitte advising a range of public and private technology and sofuware clients. Proud father of 2.

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To Make People Productive And Happy

OUR MISSION:

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The Problems We Solve

Wasted time dealing with information issues can lead to a loss in an organisation’s total productivity.*

Email complexity Compliance costs Document access Information chaos Poor security Version control Misfiling & search Legal approvals Information silos

Control security risks, track files, receive alerts, automatically file attachments. Meet regulatory, audit and litigation requirements to prevent fines and damages. Log into your document system from outside the office. Stop duplicate files, content disorganisation, and data overload. View audit trails, reduce risk of confidential leaks and hacks. One version of the document seen by everyone, no duplicates and confusion.

*ICD 2012

Prevent significant search time per worker per day looking for lost files. Digital signatures and smart workflows significantly reduce contract turnaround time. Integrates with your existing software and systems so all your files live in one place.

21.3%

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GetBusy’s Product Suite

Next generation B2B communication and productivity sofuware. Finding product market fjt. Ongoing development. Global potential.

GetBusy

In Beta

Cloud Document Management and Cloud Portal for small and medium businesses. Established 10 years. Largest vertical SME accounting and bookkeeping fjrms. US origins. Now expanding overseas.

19,000+ Paying Users

SmartVault

Desktop Document Management and Cloud Portal for medium and enterprise businesses. Established 20 years. Largest vertical large and medium sized accounting fjrms. UK and ANZ focus.

Virtual Cabinet

42,000+ Paying Users

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We Dominate Major Markets

Used by 27 of the Top 100 Accountancy Firms in the United Kingdom Used by 22 of the Top 100 Accountancy Firms in Australia and New Zealand

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Powerful Growth Drivers

California Consumer Privacy Act Digital Transformation Initiatives GDPR (General Data Protection Regulation) Worldwide Privacy And Security Laws

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Our Markets

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Accounting & Bookkeeping

1.7m People

UK, USA, Australia, New Zealand

200,000 Firms £350m Annual Market

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Our Strategy

Grow our quality recurring subscription revenue base Deliver long term, sustainable growth

Improve monetisation of existing customer and user base Focus on high quality subscription revenue (UK model switch) New product development Expansion into new verticals Geographical expansion Carefully selected acquisitions

Our Strategy

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109 Strong Worldwide Team

USA UK ANZ

28 Staff 64 Staff 17 Staff

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Our Strategy

Operational Models

Sales Marketing Support

Outbound sales team Narrow prospect set Long sales cycles Technical consultants High end marketing Brand awareness Education & trust building Direct sales support High touch support On-site issue resolution Tailored tools & training Highly customised

Enterprise

Virtual Cabinet

Inbound sales team Content, automation, tools, training, incentives to enable high efficiency. Qualifies leads Feeds sales pipeline Automation & content to simplify purchase. Remote customisation Customer self-service Educational content

Transactional

SmartVault

Little sales support Low CAC Digital marketing Viral potential Freemium model Easy onboarding Tech-touch Customers resolve their own issues.

Self Service

GetBusy (In Development)

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2018 Achievements

Continued recurring revenue growth of 22% (87% of total) 31% improvement in Adjusted EBITDA to £(0.8)m Strong LTV:CAC ratio of 6:1 GetBusy public beta launch Strong closing cash position of £2.5m

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Pure subscription models allow significantly higher lifetime value. Lower upfront cash.

Time

Subscription Model Upfront model

Cumulative Cash Collected

Significantly Higher LTV

More than offset by higher recurring cashflows in later years.

UK Move To A Subscription Revenue Model

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Total Revenue Annualised MRR At End Of Period Recurring Revenue Adjusted EBITDA Total Recurring Revenue Adjusted EBITDA Before Corporate Costs

£’m £’m £’m £’m % £’m

Results Summary

FY16 FY16 FY16 FY16 FY16 FY16 FY17 FY17 FY17 FY17 FY17 FY17 FY18 FY18 FY18 FY18 FY18 FY18

7.8 7.1 6.5 (1.7) (1.4) (0.3) +0.3 9.3 8.8 8.0 (1.2) 10.9 10.3 9.5

83% 86% 87%

(0.8)

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Group ARPU Up 11% To £168

Customer Growth

2011 2012 2013 2014 2015 2016 2017 2018 SmartVault acquired

15k 25k 30k 35k 40k 45k 50k 55k 20k

customers as at Dec 2018

61.5k

60k

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AU / NZ UK USA

Geographical Performance

17% recurring revenue growth (2017: 5%) 23% recurring revenue growth (2017: 32%) 35% recurring revenue growth (2017: 102%) £5.8m total revenue £3.3m total revenue £1.8m total revenue 80% revenue recurring (2017: 78%) 97% revenue recurring (2017: 95%) 91% revenue recurring (2017: 94%)

Sustained recurring revenue growth across all regions.

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Huh? Who Is Doing What?

Vs

What Is GetBusy?

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GetBusy Public Beta Now Live

New GetBusy website launched. GetBusy public beta available. Finding product-market fit. Ongoing development.

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Financial Update

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GBP £’m GBP £’m

FY18

FY17

Revenue 10.9 9.3 +17%% Operational EBITDA United Kingdom 2.5 2.3 United States 0.3 0.0 Australia & New Zealand 0.1 0.0 2.9 2.3 +24% Development Established Products (1.6) (1.6) GetBusy (0.9) (1.0) (2.5) (2.6) Corporate Costs (1.2) (0.9) Adjusted EBITDA (0.8) (1.2)

Group Financials

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Each territory’s trading operations are profitable before development and corporate cost. Development spend stable. Higher corporate costs reflect first full year of being public. Operating cost increases focused on customer acquisition and technology to enable scalability. 35% Operational Leverage With Reinvestment For Growth

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GBP £’m GBP £’m

FY18

FY17

Adjusted EBITDA

(0.8) (1.2) Trade Working Capital 0.3 0.3 Deferred Revenue 0.4 0.3 Operating Cashfmow (0.1) (0.6)

Cashflow

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Favourable working capital has helped to preserve cash balance.

£2.5m year end cash

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61,543 1.2m 1.3m

Paying Users Cloud Portal Users Digital Signatures

Operational SAAS Metrics

Virtual Cabinet Virtual Cabinet SmartVault SmartVault

2018 2017

Paying Users

42,425 19,118 39,518 17,925

Customers

2,139 5,069 1,726 4,616

Net MRR Churn

0.3% 0.5% 0.7% 0.7%

ARPU

£156 £193 £143 £169

LTV:CAC

N/A 6:1 N/A 3:1 Revenue growth driven by combination

  • f volume (paying user growth) and price

(ARPU). Low net MRR churn reflects customer churn, offset by larger volume from existing user base. Growing cloud portal and digital signature reach.

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Future Outlook

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Outlook

Focus on growing Virtual Cabinet and SmartVault subscription revenues. Sustain customer acquisition investment for SmartVault in the UK and US. Continue transition of UK revenue model to pure subscription. Increase Beta users for GetBusy to search for product-market-fit. Iteration of GetBusy product and marketing strategy on the back of learnings.

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2018 Annual Investor Presentation

Website: GetBusy.com Email: Investors@GetBusy.com

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Important Notice

The information contained in these slides and this presentation is being supplied to you by GetBusy Plc (“GetBusy” or the “Company”) solely for your information and may not be reproduced or redistributed in whole or in part to any other person. This document has not been approved by a person authorised under the Financial Services and Markets Act 2000 (as amended) (“FSMA”) for the purposes of section 21 FSMA and therefore these slides and this presentation are being delivered and made only to a limited number of persons and companies who are persons who have professional experience in matters relating to investments and who fall within the category of person set out in Article 19 of the FSMA (Financial Promotion) Order 2005 (the “Order”) or are high net worth persons within the meaning set out in Article 49 of the Order or are otherwise permitted to receive it. By accepting the slides and attending this presentation and not immediately returning the slides, the recipient represents and warrants that they are a person who falls within the above description

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Important Notice

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