Cirata Plc · LSE:CRTA
Cirata — WANdisco — FY2020 Earnings Presentation
31 slides from Cirata's earnings presentation, May 2021
Slide 1: FY20 Results Presentation
FY20 Results Presentation David Richards, Co-founder and CEO Erik Miller, CFO Daud Khan, VP Corporate Development May 2021 © 2021 WANdisco PLC. All rights reserved. 1
Slide 2: Agenda
Agenda • Strategic and Financial Highlights • The Azure Opportunity • Case Studies • FY20 Financial Results • Outlook and Summary • Q&A © 2021 WANdisco PLC. All rights reserved. 2
Slide 3: Strategic Highlights
Strategic Highlights Primary strategic goal achieved, deeply embedding WANdisco into cloud fabric • Fortified Microsoft partnership with Go-To-Market launch and metered billing in Q4 2020 appearing as native Azure app • Joint blog, part of Data Lake Migration program, featured app on portal, acceler
Slide 4: Financial Headlines
Financial Headlines Robust balance sheet to accelerate conversion of pipeline revenue • Revenue of $10.5 million (2019: $16.2 million) • In line with revised expectations following the extended timeline to deliver metered billing • Statutory loss from operations $34.3 million (2019: $28.3 million) •
Slide 5: Cloud Platform, System Integrators, Data & AI ISVs
Cloud Platform, System Integrators, Data & AI ISVs WANdisco’s unique capabilities recognized across the ecosystem • Cloud Platforms: Azure (deep integration), AWS (migration competency status, funded joint marketing programs), Google Cloud Platform - in progress. • Data & AI ISVs: Databricks (LiveDa
Slide 6: Positioned for Growth
Positioned for Growth Product, Partnerships, Promotion, Priorities • Product: Launch of self-serve, automated data migration tool in Q4 FY20 was a critical stepping stone in transitioning from an enterprise software business to a native cloud business. • Partnerships: Largest cloud platforms (AWS, A
Slide 7: Azure opportunity just beginning
Azure opportunity just beginning © 2021 WANdisco PLC. All rights reserved. 7
Slide 8: Why do Customers choose WANdisco?
Why do Customers choose WANdisco? The only solution to migrate at petabyte scale We looked at a lot of different technologies, and what we needed was a tool that would move data reliably, at scale......So I talked about 13 petabytes of data on our data lake. There are just a lot of companies that ar
Slide 9: Customer Architecture
Customer Architecture The future of analytics in the cloud © 2021 WANdisco PLC. All rights reserved. 9
Slide 10: Customer Architecture
Customer Architecture Real Analytics Use Case – Databricks and Snowflake © 2021 WANdisco PLC. All rights reserved. 10
Slide 11: Azure view point: Jurgen Willis
Azure view point: Jurgen Willis General Manager of Azure Engineering/Azure Storage • “Turnkey solution for data lake migrations.” • “You begin your data lake migration in minutes and not weeks or months like you would with other solutions.” • “WANdisco LiveData Platform for Azure is our preferred so
Slide 12: Vendor Support – Azure with Hadoop migration program
Vendor Support – Azure with Hadoop migration program Azure Data and AI migration initiative recommends WANdisco Modernizing your Hadoop workloads on Microsoft Azure unlocks the benefits of cost-efficiency and provides your organization with business- critical insights, a unified experience, and unma
Slide 13: Supporting Quotes
Supporting Quotes Industry analyst and customer confirms uniqueness and simplicity of WANdisco products Gartner makes rare quote indicating LiveData's ability to move petabytes of data without uniqueness of WANdisco technology interrupting production and without risk of losing the data midflight is
Slide 14: Landing in ADLS to Accelerate Azure Consumption Revenue
Landing in ADLS to Accelerate Azure Consumption Revenue Each $ of WANdisco translates to $10-20 ACR Last mile ADLS Gen2 © 2021 WANdisco PLC. All rights reserved. 14
Slide 15: Attractive to Whole Ecosystem
Attractive to Whole Ecosystem Azure Seller Global SIs Other platform • Fastest time to value: • Fastest time to value services Accelerates ACR (Azure • Automates and de-risks • Fastest time to value Consumed Revenue) for large scale data lake committed customers • Accelerates opportunity migration a
Slide 16: FY 2020 Financial Results
FY 2020 Financial Results Erik Miller - CFO © 2021 WANdisco PLC. All rights reserved. 16
Slide 17: Financial Headlines
Financial Headlines FY20 FY19 Recognised revenue $10.5m $16.2m Cash overheads $36.9m $31.7m Adjusted EBITDA* ($22.2m) ($11.7m) 31 Dec 20 31 Dec 19 Cash balance $21.0m $23.4m © 2021 WANdisco PLC. All rights reserved. Page 17
Slide 18: Profit & Loss
Profit & Loss $m FY20 FY19 Comments $m change Big data revenue grew 18% - some larger ALM deals in Revenue 10.5 16.2 (5.7) 2019 did not repeat in 2020 Cost of sales (1.0) (1.2) 0.2 Lower sales commissions with lower revenue Gross profit 9.5 15.0 (5.5) High gross margin linked to software model Cash
Slide 19: Summary Cash Flow
Summary Cash Flow Operating cash consumption primarily due to lower revenues and a modest increase in cash overheads Offset by raise of $24.1m Cash flow statement ($m) FY20 FY19 Statutory loss (34.3) (28.3) Adjustments for non-cash items 14.0 16.5 Working capital movements 1.2 (2.3) Tax received/int
Slide 20: Summary Balance Sheet
Summary Balance Sheet Strong balance sheet provides platform to accelerate conversion of cloud opportunity Balance sheet ($m) 31 Dec 20 31 Dec 2019 Non-current assets 10.2 11.6 - Trade and other receivables 10.1 8.5 - Cash and cash equivalents 21.0 23.4 Current assets 31.1 31.9 TOTAL ASSETS 41.3 43.
Slide 21: Successful Fundraising to strengthen Balance Sheet
Successful Fundraising to strengthen Balance Sheet Early positive momentum with Azure, creates opportunity to accelerate investment into other cloud vendors (AWS, GCP), other ML/AI (Machine Learning/Artificial Intelligence) platforms and enablement activities for widening SI (System Integrator) rela
Slide 22: Outlook and summary
Outlook and summary © 2021 WANdisco PLC. All rights reserved. 22
Slide 23: Mapping the cloud migration opportunity
Mapping the cloud migration opportunity TAM = $50-75bn Incentivised partners - 10-20x revenue Opportunity within cloud WANdisco’s $35m FY21 revenue target is a FY21 >100 petabyte $350m to $700m LiveData Migrator migration target on Azure opportunity for partners Microsoft estimated 200-300 exabytes
Slide 24: Pivoting to consumption-based model
Pivoting to consumption-based model Matching cloud vendors and data and AI providers • Consumption is the true SaaS: All services in the cloud fabric are used on a consumption basis (storage, CPUs), customers expect this as a standard. • Product and pricing are key: Cloud integration with metering c
Slide 25: Consumption vs traditional Subscription
Consumption vs traditional Subscription How the pivot to consumption changes behaviour Consumption Subscription Risk Vendor Customer POC Short, continue to use if it Long, customer must be sure works it works Contract Metered (SaaS) or Agreed Flat-rate/Upfront agreement Consumption (x-years for $x)
Slide 26: Benefits of Consumption Model Transition
Benefits of Consumption Model Transition Breaking down the barriers to land and expand • Increasingly reliable and predictable revenue streams • Customers enabled to increase consumption at will, with focus on driving higher lifetime value per customer and ramping over time • Selling our service how
Slide 27: Growing number of opportunities in pipeline
Growing number of opportunities in pipeline Strong pipeline evolution during 2020 No. of opportunities - 2020 300 280 260 240 220 200 Public Preview Azure & 180 Private GTM launch Preview Azure LiveData Migrator on AWS Limited Public 160 Preview Azure launch 140 120 100 Jan Feb Mar Apr May Jun Jul A
Slide 28: Summary
Summary Positioned to convert >130 petabyte opportunity in FY21 • Product: Launch of self-serve, automated data migration tool in Q4 FY20 was a critical stepping stone in transitioning from an enterprise software business to a native cloud business. • Partnerships: Largest cloud platforms (AWS, Azur
Slide 29: KPIs for 2021 and outlook
KPIs for 2021 and outlook • The shift to a consumption model where revenue is recognized over time rather than up front will lead to revenues scaling over the year. • To map pipeline progress to scaling revenue we will provide a business update in the short term providing new KPIs: • Number of custo
Slide 30: Q&A
Q&A © 2021 WANdisco PLC. All rights reserved. 30
Slide 31: Thank you
Thank you © 2021 WANdisco PLC. All rights reserved. 31