Eagle Eye Solutions Group Plc · LSE:EYE
Eagle Eye Solutions — H1 2024 Earnings Presentation
22 slides from Eagle Eye Solutions's earnings presentation
Slide 1: H1 FY24 Results
H1 FY24 Results Ongoing momentum as retailers move towards personalised marketing Eagle Eye Solutions Group plc Tim Mason, CEO and Lucy Sharman-Munday, CFO
Slide 2: Today's Agenda
Today’s Agenda 1. Introduction to Eagle Eye 2. FY24 H1 highlights 3. Financial review 4. Strategy in action 5. Q&A 2 Eagle Eye | Half year results for the six months ended 31 December 2023
Slide 3: Powering the personalised marketing revolution globally
Powering the personalised marketing revolution globally. We create value by enabling our customers to deliver better, more personalised marketing which is simpler for their teams to execute and cheaper for them to run. 750m+ 200m+ 90k+ personalised offers executed loyalty members hosted stores conne
Slide 4: A growing opportunity for Eagle Eye
Market Consumer Loyalty and personalisation are intrinsically interlinked. We enable businesses to follow the Golden Rule, We are recognised by analysts and retailers as a best-in- executing omnichannel personalisation at class solution for the full complement of customer unrivalled scale engagement
Slide 5: A positive H1 performance
A positive H1 performance Delivering on our strategy We have the ambition to We want to be the Untie Nots acquisition has be a much bigger best company to work opened a new market business for opportunity Our results are delivering Making us the best eagleAI – our new joint in line with that journey
Slide 6: Our strategic framework will enable us to achieve our ambitions
Our strategic framework will enable us to achieve our ambitions Our next milestone is £100m revenue and 25% EBITDA margin Win, Better, International Mergers & 1 Transact, 2 Innovation 3 Growth 4 Simpler, 5 Acquisitions Deepen Cheaper To develop new To win new products to provide customers, get furth
Slide 7: Financial review
Financial review
Slide 8: Profitable growth demonstrating ongoing momentum
Profitable growth demonstrating ongoing momentum Delivering in line with our Rule of 40+ objective H1 2024 Growth H/H Group Revenue £24.1m +20% Recurring Revenue (subscription fees and transactions) 78% - Annual Recurring Revenue* (ARR) £35.4m +26% Net Revenue Retention** 120% -7ppt Adjusted EBITDA*
Slide 9: Delivering on our customer strategy: H1 FY24 revenue analysis
Delivering on our customer strategy Driving our growth in revenue H1 FY24 Revenue analysis Win % H1 24 H1 23 Change One off implementation £5.2m £4.3m +21% Transact fees • Volumes +65% 2.6bn (H1 23: 1.6bn) Recurring revenue: Licence fees £7.1m £7.4m -4% Transaction fees £8.4m £7.0m +21% SMS fees £1.
Slide 10: H1 24 Income Statement
£m H1 24 H1 23 VAR % H1 24 Income Statement Delivering profitable growth Revenue 24.1 20.0 20% Cost of Sales (1.0) (1.2) (17)% 96% gross margin, +2ppts, due to product mix Gross profit 23.1 18.8 23% £17.2m net operating expenses, 22% higher in line with gross Gross margin % 96% 94% profit growth Ope
Slide 11: Innovation sits at our heart
Innovation sits at our heart Differentiating us and providing added value to our customers Delivering on our customer promise 23% 8.3bn growth in global API requests • Security API requests processed in one • Speed December 2022 month We vs. 2023 • Scale Care • Stability • Support Ensuring the platf
Slide 12: Net cash bridge
Net cash bridge Strong net cash position 10 16 9 14 £9.3m 8 12 £7.8m 7 10 £m £m 6 8 5 6 4 4 3 2 2 0 1 0 H1 21 H2 21 H1 22 H2 22 H1 23 H2 23 H1 24 Adjusted Net Cash Excluding Untie Nots deferred consideration cash outflow Net cash £7.8m (Dec 22: £5.7m) was £0.9m (H1 23: £2.1m inflow excluding funds r
Slide 13: Our organic revenue story
Our organic revenue story 1. High growth 3. Low levels of churn subscription model 78% recurring revenue 1.2% of value customer churn 2. £1 win drives £3 of transact and deepen 4. Opportunity to deepen existing base 5X 4X Services 1 2 3 >4 3X NRR % of top 20 +120% 30% 45% 20% 5% 2X customers 1X 1 2
Slide 14: Strategy in action
Strategy in action
Slide 15: Four aspects of progress towards our £100m ambition
Four aspects of progress demonstrating how we are set to deliver on our £100m ambition Our customer Innovation with International Our Purple strategy Untie Nots progress people Morrisons case Our progress and Impact on our Why it is so study plans sales pipeline important
Slide 16: Strategy in action: Win, Transact, Deepen
Strategy in action Win Transact Deepen • Contract signed for Real Time Loyalty • Deployed our 1st use case, More Card • EagleAI-powered Challenges contract and Personalised Promotions – June Exclusives (member pricing) in signed November 2023 2023 October 2023 • First Challenges campaign live in • M
Slide 17: Product-led innovation
Product-led innovation New Addressable Market Differentiating us and providing added Data analytics market is currently worth $38bn value for our ideal customer profile and is projected to grow to $393bn by 2032 Personalised Challenges Personalised Promotions Phased Approach ✓ Phase 1: cross-selling
Slide 18: Strong international revenue growth
Strong international revenue growth Continued focus on pipeline growth UK & Europe: Revenues +15% UK is most established market. France is well established for Challenges but AIR provides a new opportunity Exploring opportunities in DACH North America: Revenues +21% Largest loyalty & promotions mark
Slide 19: The best company to work for is the best company to work with
The best company to work for is the best company to work with How likely is it that you would recommend Eagle Eye as a place to work? Our People Plan 65 How likely is it that you would recommend Eagle Eye’s products & services? 68 eNPS benchmark: +50 = Excellent Our Business Case 19 Eagle Eye | Half
Slide 20: Confident outlook
The ingredients to deliver on our £100m revenue and 25% EBITDA margin milestone Confident outlook “Our ability to deliver highly Purple people personalised messages to consumers in real time, at scale, positions us at the centre of the innovations taking place Powerful platform across the world of r
Slide 21: Q&A
Q8&A
Slide 22: eagleeye.com
eagleeye.com @weareeagleeye
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