Pexip Holding Asa · OSL:PEXIP
Pexip Holding Asa — RedEye Tech Conference (May 2023)
21 slides from Pexip Holding Asa's conference presentation, May 16, 2023
Slide 1: Pexip company presentation
Pexip company presentation 16 May, 2023
Slide 2: Important notice and disclaimer
Important notice and disclaimer These materials have been produced by Pexip Holding ASA (the "Company“, and with subsidiaries the “Group”). The materials have been prepared for the exclusive use of persons attending an oral briefing and meeting to which these materials relate given by a representati
Slide 3: Pexip at a glance
Pexip at a glance Oslo (HQ), London, Stockholm, Paris, 2011 Washington DC Copenhagen, Milan, Düsseldorf, Ghent, Utrecht founded 325 employees across 26 countries 12 offices across the world 300+ partners in 75 countries 4,000 enterprise and public sector customers ~$100 million in Annual Recurring R
Slide 4: Powering video everywhere with unique multi-platform video technology
Powering video everywhere with unique multi- platform video technology Patented transcoding architecture Run on any compute platform Centralized data processing Works in all environments, including self • Gives improved interoperability & hosted and sovereign clouds browser experience • Enables tota
Slide 5: Focused on customer needs in two core solution areas, and are strengthening our position
Focused on customer needs in two core solution areas, and are strengthening our position in both Connected Spaces Secure, customized solutions ARR: ARR: 60m 33m USD USD • Market and technology leadership strengthened • Pexip offers unique solution for self hosted and private through Q1 cloud deploym
Slide 6: Investment case
Investment c Jpexip[
Slide 7: Pexip Investment highlights
]pexip[ Investment highlights Certified video communication platform with unique technology and 1 industry partnerships serving a broad range of companies and governments globally Approx. USD 100 million in ARR – targeting large, high-growth markets 2 with unique position towards lucrative enterpris
Slide 8: Unique technology makes Pexip a preferred partner for the leading collaboration platforms
Unique technology makes Pexip a preferred partner for the leading collaboration platforms Microsoft certification for Sole interoperability provider for One of four certified providers for 8
Slide 9: Strategic partnership with Poly powering Poly's new video infrastructure solutions
Strategic partnership with Poly powering Poly’s new video infrastructure solutions PrivateConnect CloudConnect FedConnect Powered by Pexip Powered by Pexip Powered by Pexip Offerings will be available through Poly’s sales channels, improving Pexip’s market reach “We're thrilled to work with Pexip, a
Slide 10: A selection of organizations using Pexip
A selection of organizations using Pexip "It was important for us to have the capabilities to enable our people to communicate with our clients effectively. Given the large scale - 400,000 people - and over 4,000 video conferencing calls a month. Being able to bring those together is really importan
Slide 11: Turning around to a profitable company in 2023
Turning around to a profitable company in 2023 Full Year Adj. EBITDA1 YTD NOK million 100-150 Transformation highlights 76 • Have adapted cost base to 56 current revenues, giving 35 positive EBITDA and cash flow • More focused strategy has enabled Pexip to strengthen -52 differentiators in core mark
Slide 12: Total ARR base at USD 98m in Q1 2023
Total ARR base at USD 98m in Q1 2023 Total ARR ARR split USDm Q1 2023 106.4 105.6 106.1 99.8 100.7 99.6 98.3 Self-hosted Software 92.7 87.2 46% 54% Pexip as-a-Service APAC EMEA 8% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 54% 38% 2021 2021 2021 2021 2022 2022 2022 2022 2023 Americas Legacy Underlying ARR Booked An
Slide 13: Clear progress of return to profitability
Clear progress of return Revenue to profitability NOK million +17.2% 260.4 260.6 222.5 195.0 189.2 Positive revenue increase of 17% compared to Q1’22, of which 11 p.p. are driven by currency effects Q1 Q2 Q3 Q4 Q1 2022 2022 2022 2022 2023 Continued positive EBITDA development, driven by realized eff
Slide 14: Cash flow - quarterly
Cash flow - quarterly Cash flow from operations NOK million +104.0 73.4 The overall cash flow is a net positive of 47 million NOK, driven largely by the improvement in -30.6 -34.4 -42.3 our operating cash flow. Positive EBITDA, net -65.9 working capital and exchange gains from Q1 Q2 Q3 Q4 Q1 receivi
Slide 15: Outlook and 2023 targets
Outlook and 2023 targets Generally positive market outlook across Target 2023 EBITDA of NOK 100-150 the business areas million We aim to become a profitable business, with targets supported by the solid progress on the cost reduction Poly partnership and FedRAMP program Progress after Q1: On track A
Slide 16: Thank you for listening!
Thank you for listening! Investor.pexip.com
Slide 17: Appendix
Appendix
Slide 18: Q1 2023 and full year 2022 Financial results
Q1 2023 and full year 2022 Financial results Profit and loss NOKm Q1 2023 Q1 2022 2022 2021 • 17% increase in year-on-year Q1 revenue, driven by currency Revenue 260.6 222.5 867.1 805.5 exchange changes and stronger Cost of goods sold 21.3 25.8 93.8 76.9 Software-as-Service revenues • COGS is mainly
Slide 19: High gross margins across the business areas
High gross margins across the business areas Gross profit by segment NOKm Q1 2023 Q1 2022 YoY dev. Revenue from Connected Spaces 158 149 6% • COGS are mainly related to Connected Spaces, however COGS of Connected Spaces 18 21 -14% both business areas with Gross Profit from Connected Spaces 139 128 9
Slide 20: Connected Spaces
Connected Spaces ARR • Continuous innovation ongoing to increase technology leadership in USDm Connected Spaces 61.9 61.5 61.3 61.2 59.9 • Continue to win major customers with our leading technology, in particular on Teams interoperability • Large US federal government agency – Social Security Admin
Slide 21: Secure and custom solutions
Secure and custom solutions • Continued momentum for our Secure Collaboration products with recurring revenues in Secure Spaces growing 5% in Q1, and ARR underlying y-o-y growth of 69% USDm 34.7 • Increased awareness on cyber vulnerability and privacy gives Pexip 31.9 32.1 32.7 an attractive positio