Siteminder Limited · ASX:SDR
Siteminder — Investor Presentation (February 2022)
37 slides from Siteminder's investor presentation, Feb 16, 2022
Slide 1: SiteMinder
1} SiteMinder
Slide 2: Investor briefing: Half-year results to 31 December 2021
Investor 2 briefing Half-year results to 31 December 2021 16 February 2022 *SiteMinder customer Rai Resort - Surat Thani, Thailand
Slide 3: Important notice and disclaimer
Important notice and disclaimer 3 This presentation is given on behalf of SiteMinder Limited (SiteMinder) (ASX: SDR) (ACN 121 931 744). By accepting, accessing or reviewing this presentation, you acknowledge and agree to the terms set out in this Important Notice and Disclaimer. Disclaimer To the ma
Slide 4: Important notice and disclaimer (continued)
Important notice and disclaimer (continued) 4 Past performance Past performance information, including past share price information, given in this presentation is given for illustrative purposes only and should not be relied upon as an indication of future performance. Future performance Forward-loo
Slide 5: Business update
Business 5 update Sankar Narayan CEO & Managing Director
Slide 6: Agenda
Agenda 6 Business and key initiatives update Sankar Narayan Outlook CEO & Managing Director Financial results Jonathan Kenny CFO Q&A Sankar & Jonathan
Slide 7: SiteMinder reaccelerates and grows across key metrics
SiteMinder reaccelerates and grows across key metrics 7 ● H1FY22 revenue of $55.0m, up 10.4% YoY (CC) with Americas growth of 25%, EMEA growth of 16%, and (5%) for APAC. ● Property count expanded by 8% annualised rate during Q2FY22, improving from 5% in Q4FY21 and Q1FY22. During H1FY22, Americas exp
Slide 8: Strong H1FY22 results across multiple metrics
Strong H1FY22 results across multiple metrics Total annual Subscription properties recurring revenue (ARR) Total revenue Monthly ARPU 33.4K $111M $55.0M $280 8% annualised growth in Q2FY22 13.5% growth YoY CC 10.4% growth YoY CC 7.7% YoY growth CC in H1FY22 LTV/CAC Churn Transaction attach rate Free
Slide 9: The travel environment (Hotel bookings from Mar 2020 to Jan 2022 vs 2019)
The travel environment (Hotel bookings from Mar 2020 to Jan 2022 vs 2019) 9 Americas ● US travel rebounded in CY21 to 80% of 2019 ● Mexico travel has been strong through Covid ● South American travel expected to rebound in CY22 EMEA ● Strong travel reopening in Jul 2021 following many months of lock
Slide 10: SiteMinder's global footprint
SiteMinder’s global footprint 10 APAC H1 H1 YoY FY21 FY22 (CC) Revenue 18.1m 17.0m (5%) Properties 12.2k 11.5k (5%) H1FY22 0% Property growth (annualised) Americas H1 H1 YoY FY21 FY22 (CC) Revenue 11.5m 14.0m 25% EMEA H1 H1 YoY FY21 FY22 (CC) Properties 5.7k 6.2k 10% Revenue 21.0m 24.1m 16% H1FY22 1
Slide 11: Regional highlights
Regional highlights 11 Americas EMEA Asia Pacific Revenue increased by 25% in CC, Revenue increased by 16% in CC, Revenue declined by 5% in CC with the contributed by the reopening of travel in with the reopening of travel in EMEA near shutdown of international travel. the US and Mexico, subscriptio
Slide 12: Key initiatives update
Key initiatives 12 update Sankar Narayan CEO & Managing Director
Slide 13: Our evolution – from product to platform
Our evolution – from product to platform Gen 1 Gen 2 Gen 3 (2006-2016) (2017-2021) (eCommerce Platform 2022+) ● Channel Manager launched in ● To maintain category leadership ● Providing an evolving platform 2006 we introduced business with intelligence and ● Booking Engine launched insights, payment
Slide 14: Next generation hotel commerce platform: Integrated, intuitive, intelligent and launching H2FY22
Next generation hotel commerce platform: 14 Integrated, intuitive, intelligent and launching H2FY22 Intuitive, simple customer experience (CX). Integrated prompts and intelligent guides the user on next best action as part of improved onboarding and support CX. Indirect and Direct fully integrated.
Slide 15: Top overall technology company for hotels and the most category #1 wins and finalist rankings
Top overall technology company for hotels and the most 15 category #1 wins and finalist rankings Award-winning industry leader Most recognised software provider at this year’s HotelTechAwards #1 Overall Highest Rated Solution #1 Best Channel Manager #1 Best Booking Engine #1 Best Marketplace & Integ
Slide 16: More relevant, more awarded, more integrated hotel commerce platform
16 The most awarded hotel commerce platform in the industry (2022 HotelTechAwards), covering direct and indirect distribution and the leading marketplace More relevant, more awarded, more integrated hotel commerce platform ▲ Direct Bookings ▲ Airbnb Hotel customers want to seize ▲ Regional OTAs a mo
Slide 17: Mobilising small accommodation providers with updated mobile app for Little Hotelier
Mobilising small accommodation providers with updated 17 mobile app for Little Hotelier (launched Feb 2022) Enhanced guest communication and management Greater visibility and control over property, bookings and guests The ability to take deposits and payments … anytime, anywhere. Customer feedback –
Slide 18: The most open and extensive platform – expanding reach with 1,400 partners
The most open and extensive platform – expanding reach 18 and impact with 1,400 partners around the world Coming 2022 500+ expert partners and 150+ PMSs across Celebrated first year of SiteMinder Partner Running inaugural global customer/partner all regions, bringing open ecosystem to 1400+. Program
Slide 19: Transaction highlights
Transaction highlights 19 Global Distribution Demand Plus SiteMinder Pay System (GDS) Continued growth in customer Increased property penetration GDS recovery held back in H1FY22 attachment rates for Demand in both Little Hotelier and with Omicron and the pull back in Plus and transaction volumes Si
Slide 20: Financial results
Financial 20 results Jonathan Kenny Chief Financial Officer
Slide 21: Revenue growth in H1FY22
Revenue growth in H1FY22 21 Total revenue Grew 10.4% YoY (CC) driven by partial travel recovery, increased attachment of transaction products driving ARPU expansion. Subscription revenue Grew 1.0% YoY (CC) from ARPU growth. While closing subscribers were higher, average property count in H1FY22 was
Slide 22: Resilience and strength from a global footprint
Resilience and strength from a global footprint 22 Global diverse revenue portfolio with revenue growth in EMEA and Americas as APAC was heavily impacted by COVID-19 restrictions and lockdowns for most of H1FY22. EMEA and Americas comprise 69% of global revenue. % total H1FY21 H1FY22 APAC 36% 31% EM
Slide 23: Improving SaaS economics
Improving SaaS economics 23 SiteMinder initiatives to improve efficiency and LTV/CAC Unit economics breakdown FY21 H1FY22 Improving customer Properties (000s) 32.4 33.4 acquisition cost: 1 Monthly ARPU (A$) 257 280 Introduced new GTM processes to improve scalability in Jun 2020. Monthly revenue chur
Slide 24: Gross margins
Gross margins 24 H1FY22 H1FY21 Subscription gross margins are Subscription gross margins impacted by the platform migration efforts for the duration of the Subscription revenue 42,699 42,967 migration. Subscription-related expenses 8,115 6,958 In H1FY21, gross margins have Subscription gross margin
Slide 25: Investment to rebuild GTM capacity and platform innovation
Investment to rebuild GTM capacity and platform innovation 25 CAC as a % of revenue Product cost including opex and capex as a % of revenue Sales and marketing HC growth YoY with the Continued product investment to support longer term investment in rebuilding GTM capacity, to support product strateg
Slide 26: Underlying financial performance – expanding GTM
Underlying financial performance – expanding GTM 26 $000s H1FY22 H1FY21 YoY (%) Revenue 54,993 50,512 9% Cost of Sales (16,441) (12,036) 37% Gross profit 38,552 38,476 0% Revenue grew 10.4% YoY in CC. Sales & Marketing (21,508) (16,302) 32% H1FY21, cost line items included Research & Development (10
Slide 27: Cash flow – investing for future growth
Cash flow – investing for future growth 27 SiteMinder’s underlying free cash outflow for H1FY22 was $16.6 million, $000's H1FY22 H1FY21 representing 30% of revenue with available cash and term deposits of Underlying EBITDA (9,958) (5,163) $113 million, excluding debt facilities. Non-cash items in EB
Slide 28: Outlook
Outlook 28 Following a global resumption of travel, SiteMinder is targeting pre-COVID-19 revenue growth rates (31% from FY17-FY19) in the future but realisation of this target will depend on many factors outside of the Company’s control, including the substantial abatement of COVID-19 related influe
Slide 29: Multiple levers underpin strong, sustained organic growth
Multiple levers underpin strong, sustained organic growth 29 Reacceleration as travel recovers Property growth Transaction products Travel environment Reacceleration in key growth Opportunity to overlay International travel reopening will markets of Americas and EMEA transaction products with boost
Slide 30: Q&A
Q&A 30 Sankar Narayan CEO & Managing Director Jonathan Kenny CFO
Slide 31: Appendix
Appendix 31
Slide 32: Underlying reconciliations to reported financial statements
Underlying reconciliations to reported financial statements 32 Notes $000s Notes H1FY22 H1FY21 Underlying EBITDA (9,958) (5,163) 1. Total transaction costs related to the IPO and Transaction cost related to IPO and capital capital raise were $8.9 million of which $3.7 million is raise 1 (5,201) - di
Slide 33: Underlying cash flows – reconciliation to reported financial statements
Underlying cash flows – reconciliation to reported 33 financial statements $000s H1FY22 H1FY21 Underlying EBITDA (9,958) (5,163) Notes Non-cash items in EBITDA 3,450 2,844 Changes in working capital 444 1,373 1. Transaction costs paid relating to the IPO and capital raise of $7.5 million of which $3
Slide 34: Glossary
Glossary 34 Monthly ARPU Properties (Customers) Average revenue per user (or property) measures the average revenue from each Properties means each unique property which subscribes to one or more of customer and is used in calculating LTV. It also indicates if the value of a customer is SiteMinder’s
Slide 35: Contact
Contact 35 Investor Relations Media enquiries Ronn Bechler Maria Cricchiola investor.relations@siteminder.com media@siteminder.com
Slide 36: Thank You
Thank You i=)
Slide 37: www.siteminder.com/investor-relations
37 www.siteminder.com/investor-relations