Investor Presentation
Daniel Rabie (CEO) and Paul Haworth (CFO)
Document Management And Productivity Software
Investor Presentation Daniel Rabie (CEO) and Paul Haworth (CFO) - - PowerPoint PPT Presentation
Investor Presentation Daniel Rabie (CEO) and Paul Haworth (CFO) Document Management And Productivity Software Your Presenters Daniel Rabie Paul Haworth CEO CFO 2015 to 2017: COO of Reckon (ASX:RKN) 7 years in senior corporate and
Investor Presentation
Daniel Rabie (CEO) and Paul Haworth (CFO)
Document Management And Productivity Software
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 software industry. Founder of numerous startup businesses. Proud father of 2. 7 years in senior corporate and operational fjnance roles with UK listed groups. Most recently EMEA Finance Director for Dialight plc. 9 years with Deloitte advising a range of public and private technology and software clients. Proud father of 2.
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Daniel Rabie
CEO
Paul Haworth
CFO
Your Presenters
Overview Update
Daniel Rabie - CEO
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We’re Scaling As We Grow
34% total operational leverage in 2017.
We Grew Our Recurring Revenue
86% total recurring revenue with a very strong 23% growth rate. 4
2017 was a great year. And we’re even more excited about the future. Clear And Focused Growth Strategy We’re Adding To Our Opportunities
With £2.8m in the bank. Increasing and growing our customer acquisition channels.
H1 16 H2 16 H1 16 H1 16 H1 16 H1 16
3.1 3.7 (0.95) (0.79)
Recurring Revenue
£’m
Total Recurring Revenue
%
Total Revenue
£’m
Underlying EBITDA
£’m
Annualised MRR At End Of Period
£’m
Underlying EBITDA Before Corporate Costs
£’m H2 16 H2 16 H2 16 H2 16 H2 16
3.4 4.1 (0.78) (0.63)
H1 17 H1 17 H1 17 H1 17 H1 17
3.8 4.5 (0.40) (0.24)
H2 17 H2 17 H2 17 H2 17 H2 17 H2 17
4.2
86% 83%
6.3 7.1 7.8 8.8 4.8 (0.81) (0.06)
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OUR MISSION
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High subscription revenue means confjdent projections, stability and continuation of a powerful trend
83%
was subscription
86%
was subscription
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23%
growth rate
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2011 2012 2013 2014 2015 2016 2017
SmartVault acquired
15k 10k 25k 30k 35k 40k 45k 50k 55k 20k customers as at Dec 2017
60k
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6k new customers
added in 2017 for 11% growth
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2011 2012 2013 2014 2015 2016 2017 100k 50k 150k 200k 250k 300k
as at Dec 2017
350k 400k 450k 500k 550k 600k 650k 700k 750k 800k 850k 900k
2011 2012 2013 2014 2015 2016 2017 100k 50k 200k 250k 300k 350k
digital signatures as at Dec 2017
400k 450k 500k 550k 600k 650k 700k 750k 800k 850k
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Portal User Growth Digital Signatures
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Used by 27 of the Top 100 Accountancy Firms in the United Kingdom Used by 11 of the Top 20 Accountancy Firms in Australia and New Zealand
With market-leading customers in many other industry categories
SmartVault
18.0k Customers At Dec 2017
Document management software for small to medium businesses.
Virtual Cabinet
39.5k Customers At Dec 2017
Document management software for medium to enterprise businesses.
GetBusy
In development
Document management + MORE for small, medium and enterprise businesses.
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Information chaos
Stop duplicate fjles, content disorganisation, and data overload.
Poor security
View audit trails, reduce risk of confjdential leaks and hacks.
Version control
One version of the document seen by everyone, no duplicates and confusion.
Email complexity
Control security risks, track fjles, receive alerts, automatically fjle attachments.
Wasted time dealing with information issues can lead to a 21.3% loss in an organisation’s total productivity.*
*ICD 2012
Compliance costs
Meet regulatory, audit and litigation requirements to prevent fjnes and damages.
Document access
Log into your document system from outside the offjce.
Misfjling & search
Prevent signifjcant search time per worker per day looking for lost fjles.
Legal approvals
Digital signatures and smart workfmows signifjcantly reduce contract turnaround time.
Information silos
Integrates with your existing software and systems so all your fjles live in one place.
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Construction 2% Manufacturing 2% Financial Services 22% Insurance 6% Property 1% Legal 1% Insolvency 1% Medical, Dental or Health Service 2% Professional Consulting 3% Nonprofjt 1% Financial Services (other than Accounting) 2% Legal 1% Real Estate 1% Retail 1% Other 9% Accounting and Bookkeeping 75% Accounting 51% Other 19% 13
SmartVault Virtual Cabinet
SmartVault To New Markets Proven New Market Entry Results GetBusy Worldwide Potential
Planning launch into the UK and ANZ focusing on the untapped small to medium sized accounting market.
Virtual Cabinet entered ANZ region in 2015, now it earns £1.3m in recurring revenue with 98% growth in 2017. Once our new GetBusy product is launched it will be a self service, tech touch product, with a global reach.
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Innovators Early Adopters
Enormous potential, with a long way to go.
Early Majority Late Majority Laggards
Small & Medium Accounting Industry Is Here
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THOUGHT LEADERSHIP Our GDPR Guides have been downloaded 50+ times a day since Jan 18
GDPR Legislation: 25th May 2018 Other Legislation & Security Drivers
The EU is launching major new data protection laws requiring every business worldwide storing data about EU citizens to comply. Virtual Cabinet, SmartVault and GetBusy are well placed here to help companies avoid heavy fjnes. Countries like Australia are implementing their own data protection laws, and online security continues to be a strong driver. GetBusy expects to see ever increasing demand from these developments.
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Revenue generation with low CAC (Customer Acquisition Cost). Create awareness, educational content and automation to drive business through the entire purchase process from awareness to close. Automation and tools for easy
educational content that allow customers to largely resolve any issues they encounter on their own. Leverage off existing channels to market and sales team.
Self Service GetBusy
Inside sales reps supported by online content, automation, tools, training, incentives and metrics that enable high effjciency. Feeds highly qualifjed leads to the sales team to build pipeline. Removes roadblocks through educational content and automation that drive complexity out of the purchase. Inside support reps that provide pre and post sales support and consulting, with tools and training that enable high effjciency, helped by customer self-service tools and educational content.
Transactional SmartVault & GetBusy
Sales Marketing Support / Consulting
17 Highly skilled sales reps focused on a narrow set of target prospects. Sales cycles supported by technical consultants who implement the product around customers’ needs. High-end marketing that facilitates brand awareness, education, relationship building and trust, complemented by direct support of the sales team. High touch support up to on-site issue resolution complemented by educational tools and training tailored to the specifjc needs of individual customers.
Enterprise Virtual Cabinet
USA
30 staff
UK
63 staff
ANZ
17 staff
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Financial Update
Paul Haworth - CFO
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GBP £’m GBP £’m
2017 2016
Growth
Recurring Revenue
8.0 6.5 23%
Non-Recurring Revenue
1.3 1.3
Total Revenue
9.3 7.8 20%
Gross Profjt
8.6 7.2 21%
Gross Margin
93% 92%
SG&A Costs
(6.3) (5.8)
Corporate Costs
(0.9) (0.3)
Development Costs
(2.6) (2.8)
Adjusted EBITDA
(1.2) (1.7)
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GBP £’m GBP £’m
2017 2016
Growth
Recurring Revenue United Kingdom
4.0 3.8 5%
United States
2.7 2.1 32%
Australia & New Zealand
1.3 0.6 102%
Total
8.0 6.5 23%
Total Revenue United Kingdom
5.1 4.9 4%
United States
2.9 2.2 30%
Australia & New Zealand
1.3 0.7 98%
Total
9.3 7.8 20%
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GBP £’m GBP £’m
2017 2016
Growth
Operational EBITDA United Kingdom
2.3 2.3
United States
(0.1) (0.9)
Australia & New Zealand
0.1 (0.1)
Total
2.3 1.4 71%
Development GetBusy
(1.0) (0.7 )
Existing Products
(1.6) (1.9)
Corporate Costs
(0.9) (0.3)
Total Underlying EBITDA
(1.2) (1.7) 30%
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GBP £’m
2017
Adjusted EBITDA
(1.2)
Our focus is to ensure cashfmow is carefully monitored
Trade Working Capital
(0.3)
Benefjt of signifjcant accrued corporate expenditure in 2017
Deferred Revenue
(0.3)
Customer payments in advance of revenue recognition
Operating Cashfmow
(0.6)
Interest And Tax
(0.1)
Capital Expenditure
(0.2)
IT Infrastructure, Houston and Sydney Fit-Outs
Cashfmow Before Funding
(0.9)
Funding Prior To Demerger
1.6
Proceeds Of IPO
3.0
Demerger And IPO Costs
(0.9)
Net Cashfmow
2.8
£2.8m in the bank going into 2018. 23
High Drop-Through For New Revenue:
2017 2016
Growth
MRR Churn Virtual Cabinet
0.7% 0.3%
SmartVault
0.7% 1.1%
ARPU SmartVault
£170 £158 8%
Virtual Cabinet
£136 £125 8%
Group
£146 £134 9%
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Stable Gross Margin * Operating Leverage is calculated before development and corporate costs. Operating Leverage*
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Outlook
Daniel Rabie - CEO
VS
Happy customer Productive you
Document misfiled Poor security Admin time Email Tool Quote Tool Invoice Tool Missed job Chaotic you Physical Signature
The old way The new way
One tool. One simple price. Your unfair productivity advantage.
Scheduling nightmare Angry customer Forgotten customer Waiting Customer Tasks Tool
$ $ $ $
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MESSAGING TASK MANAGEMENT CLIENT COMMUNICATION
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Metalab helps the world’s top companies build amazing digital products
Metalab has helped to build Slack, Coinbase, Facebook Messenger, Notarize - and now GetBusy!
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Using data to test our assumptions and features.
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Partnership with Metalabs to ensure high product quality. Continued to code and develop in-house.
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UX & UI focus
An enormous focus on system architecture and design for superior customer usability.
Experienced team
Being built by a team with decades of experience.
Customer obsession
Obsessive customer focus to prioritise features and determine release readiness.
Get In Touch:
GetBusy.com investors@getbusy.com
Document Management And Productivity Software
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