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

OUR MISSION: To Make People Productive And Happy 3

The Problems We Solve Wasted time dealing with information issues can lead to a loss in an organisation’s total productivity.* 21.3% Information chaos Email complexity Misfiling & search Stop duplicate files, content Control security risks, track files, receive Prevent significant search time per disorganisation, and data overload. alerts, automatically file attachments. worker per day looking for lost files. Poor security Compliance costs Legal approvals View audit trails, reduce risk of Meet regulatory, audit and litigation Digital signatures and smart workflows confidential leaks and hacks. requirements to prevent fines and damages. significantly reduce contract turnaround time. Version control Document access Information silos One version of the document seen by Log into your document system Integrates with your existing software and everyone, no duplicates and confusion. from outside the office. systems so all your files live in one place. 4 *ICD 2012

GetBusy’s Product Suite Virtual Cabinet SmartVault GetBusy 42,000+ Paying Users 19,000+ Paying Users In Beta Desktop Document Management Cloud Document Management and Next generation B2B communication and Cloud Portal for medium and Cloud Portal for small and medium and productivity sofuware. enterprise businesses. businesses. Finding product market fjt. Established 20 years. Established 10 years. Ongoing development. Largest vertical large and medium Largest vertical SME accounting and Global potential. sized accounting fjrms. bookkeeping fjrms. UK and ANZ focus. US origins. Now expanding overseas. 5

We Dominate Major Markets Used by 27 of the Top 100 Used by 22 of the Top 100 Accountancy Firms in Accountancy Firms in the United Kingdom Australia and New Zealand 6

Powerful Growth Drivers GDPR (General Data California Consumer Protection Regulation) Privacy Act Worldwide Privacy And Digital Transformation Security Laws Initiatives 7

Our Markets UK, USA, Australia, New Zealand Accounting & Bookkeeping 1.7m People 200,000 Firms £350m Annual Market 8

Our Strategy Our Strategy Deliver long term, Grow our quality recurring sustainable growth subscription revenue base Improve monetisation of existing Focus on high quality subscription customer and user base revenue (UK model switch) New product development Expansion into new verticals Geographical expansion Carefully selected acquisitions 9

109 Strong Worldwide Team UK 64 Staff USA 28 Staff ANZ 17 Staff 10

Operational Models Our Strategy Sales Marketing Support Enterprise Outbound sales team High end marketing High touch support Narrow prospect set Brand awareness On-site issue resolution Virtual Cabinet Long sales cycles Education & trust building Tailored tools & training Technical consultants Direct sales support Highly customised Transactional Inbound sales team Qualifies leads Remote customisation Content, automation, tools, Feeds sales pipeline Customer self-service SmartVault training, incentives to Automation & content Educational content enable high efficiency. to simplify purchase. Self Service Little sales support Low CAC Easy onboarding Digital marketing Tech-touch GetBusy Viral potential Customers resolve (In Development) Freemium model their own issues. 11

2018 Achievements Continued recurring revenue 31% improvement in Adjusted growth of 22% (87% of total) EBITDA to £(0.8)m Strong LTV:CAC GetBusy public Strong closing cash ratio of 6:1 beta launch position of £2.5m 12

UK Move To A Subscription Revenue Model Subscription Cumulative Model Cash Collected Significantly Pure subscription models allow Higher LTV significantly higher lifetime value. Upfront model Lower upfront cash. More than offset by higher recurring cashflows in later years. Time 13

Results Summary Total Revenue Recurring Revenue Total Recurring Revenue £’m £’m % 10.9 9.5 87% 9.3 8.0 86% 7.8 6.5 83% FY16 FY17 FY18 FY16 FY17 FY18 FY16 FY17 FY18 Annualised MRR At End Of Period Adjusted EBITDA Adjusted EBITDA Before Corporate Costs £’m £’m £’m FY18 FY16 FY17 FY18 FY16 FY17 10.3 8.8 +0.3 7.1 (0.8) (0.3) (1.2) (1.7) (1.4) FY16 FY17 FY18 14

Customer Growth 60k 55k 50k 45k 61.5k 40k customers as at Dec 2018 Group ARPU Up 35k 11% To £168 30k 25k 20k 15k 2011 2012 2013 2014 2015 2016 2017 2018 SmartVault acquired 15

Geographical Performance Sustained recurring revenue growth across all regions. UK USA AU / NZ 17% recurring revenue growth 23% recurring revenue growth 35% recurring revenue growth (2017: 5%) (2017: 32%) (2017: 102%) £5.8m total revenue £3.3m total revenue £1.8m total revenue 80% revenue recurring 97% revenue recurring 91% revenue recurring (2017: 78%) (2017: 95%) (2017: 94%) 16

What Is GetBusy? Huh? Who Is Doing What? Vs 17

GetBusy Public Beta Now Live New GetBusy website launched. GetBusy public beta available. Finding product-market fit. Ongoing development. 18

Financial Update 19

Group Financials FY18 FY17 GBP £’m GBP £’m 35% Operational Leverage With Reinvestment For Growth +17% % 10.9 9.3 Revenue Operational EBITDA Each territory’s trading operations are United Kingdom 2.3 2.5 profitable before development and United States 0.0 0.3 corporate cost. Australia & New Zealand 0.0 0.1 Development spend stable. 2.3 2.9 +24% Higher corporate costs reflect first full Development year of being public. Established Products (1.6) (1.6) Operating cost increases focused on GetBusy (1.0) (0.9) customer acquisition and technology to (2.6) (2.5) enable scalability. (0.9) Corporate Costs (1.2) (1.2) Adjusted EBITDA (0.8) 20

Cashflow FY18 FY17 Favourable working capital has helped GBP £’m GBP £’m to preserve cash balance. (1.2) (0.8) Adjusted EBITDA Trade Working Capital 0.3 0.3 Deferred Revenue 0.3 0.4 £2.5m year end cash (0.6) Operating Cashfmow (0.1) 21

Operational 2018 2017 Virtual Cabinet SmartVault Virtual Cabinet SmartVault SAAS Metrics 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 Revenue growth driven by combination LTV:CAC N/A 6:1 N/A 3:1 of volume (paying user growth) and price (ARPU). Low net MRR churn reflects customer 61,543 1.2m 1.3m churn, offset by larger volume from existing user base. Paying Users Cloud Portal Users Digital Signatures Growing cloud portal and digital signature reach. 22

Future Outlook 23

Outlook Focus on growing Virtual Cabinet Continue transition of UK revenue and SmartVault subscription model to pure subscription. revenues. Sustain customer acquisition Increase Beta users for Iteration of GetBusy product and investment for SmartVault in GetBusy to search for marketing strategy on the the UK and US. product-market-fit. back of learnings. 24

2018 Annual Investor Presentation Website: GetBusy.com Email: Investors@GetBusy.com