Bailador Technology Investments Ltd · ASX:BTI
Bailador Technology Investments — FY2019 Earnings Presentation
23 slides from Bailador Technology Investments's earnings presentation, Aug 15, 2019
Slide 1: Results for the financial year ending 30 June 2019
For personal use only Results For the financial year ending 30 June 2019 Bailador Technology Investments Limited (ASX:BTI)
Slide 2: Contents
Contents For personal use only PORTFOLIO PERFORMANCE PAGE 3 – 6 P O R T F O L I O C O M PA N Y P E R F O R M A N C E PAGE 7 - 16 FY19 SUMMARY FINANCIALS PAGE 17 – 19 FY20 OUTLOOK PAGE 20 – 21 2
Slide 3: Bailador has had a productive year with NTA per share at $1.31
Bailador has had a productive year with the June 30th NTA per share at For personal use only $1.31, up 18.2% (net of all fees) over prior year PORTFOLIO PERFORMANCE SiteMinder passing $100m in revenue shows clear success of BTI’s largest holding, with revenue now at 19.4x the size at which Bailador
Slide 4: Portfolio of established, fast growth technology companies
Bailador has a portfolio of established, fast growth technology companies For personal use only PORTFOLIO PERFORMANCE 10 investments $232m 30% 83% recurring revenue2 portfolio company portfolio company revenue1 revenue growth2 1Revenue for the year ended 30 June 2019 for the underlying companies in
Slide 5: Carrying value growth conservative compared to portfolio revenue growth
The growth in carrying value of BTI’s investments is conservative in comparison to the revenue growth in the portfolio For personal use only Revenue Carrying Value Value PORTFOLIO PERFORMANCE Revenue Carrying Portfolio revenue has increased by 3.1x 3.1x… …but BTI has only recognized 2.2x a value inc
Slide 6: Strong NTA per share growth driven by upward revaluations
Strong NTA per share growth driven by upward revaluations to 7 of 10 portfolio companies For personal use only Bailador FY19 NTA per share movements net of all fees PORTFOLIO PERFORMANCE $1.40 +29% +18% +19% $1.35 +30% +24% +58% $1.30 +30% $1.25 +18.2% $1.20 $1.15 $1.10 June 18 SiteMinder Instaclust
Slide 7: SiteMinder
46% O F B T I N TA P O R T F O L I O C O M PA N Y P E R F O R M A N C E Revenue For personal use only SiteMinder is the world leader in connecting hotels to online distribution channels for accommodation bookings 19.4x • $100m+ Annualised Recurring Revenue (ARR) • The clear global leader (triple the
Slide 8: Instaclustr
9% O F B T I N TA P O R T F O L I O C O M PA N Y P E R F O R M A N C E Revenue For personal use only Instaclustr is an open-source-as-a-service platform of managed solutions for complex big data applications 4.1x • Rapid revenue growth (200% over the last 24 months) including from existing customers
Slide 9: Straker Translations
8% O F B T I N TA P O R T F O L I O C O M PA N Y P E R F O R M A N C E Revenue For personal use only Straker Translations is a world leading AI data driven language translation platform powering the global growth of businesses 3.0x • A US$43bn market opportunity underpinned by strong structural tren
Slide 10: Stackla
8% O F B T I N TA P O R T F O L I O C O M PA N Y P E R F O R M A N C E Revenue For personal use only Leading tech platform for brands to leverage User Generated Content (UGC) in their marketing strategy 3.0x • Huge global addressable market • Impressive suite of domestic and international blue chip
Slide 11: DocsCorp
7% O F B T I N TA P O R T F O L I O C O M PA N Y P E R F O R M A N C E Revenue For personal use only Global leader in the rapidly growing document productivity segment 1.4x • Clear product leadership • Strong growth opportunities in existing and adjacent markets with BTI Entry (FY16) FY19 existing p
Slide 12: Lendi
7% O F B T I N TA P O R T F O L I O C O M PA N Y P E R F O R M A N C E Revenue For personal use only Lendi is an end-to-end online home loan platform and mortgage product that uses advanced technology to fundamentally improve the home loan experience for 1.9x Australian consumers • Disruptive home l
Slide 13: SMI
6% O F B T I N TA P O R T F O L I O C O M PA N Y P E R F O R M A N C E Revenue For personal use only Big data aggregation and analysis platform with exclusive access to ad expenditure data 3.4x • Unique value proposition • Blue chip customer base Bailador Entry (FY11)* FY19 • Favorable trends as cus
Slide 14: Viostream
5% O F B T I N TA P O R T F O L I O C O M PA N Y P E R F O R M A N C E Licence Fee Revenue For personal use only Viostream is a cloud-based video management, storage and distribution platform for enterprises 1.6x • Well positioned to capitalise on the strong growth of video as a communications mediu
Slide 15: Rezdy
4% O F B T I N TA P O R T F O L I O C O M PA N Y P E R F O R M A N C E Revenue For personal use only Leading, innovative and fast growing online channel manager and booking software platform for tours & activities. 6.9x • Well positioned in a fragmented multi-billion dollar market • Over 50% of reve
Slide 16: Brosa
2% O F B T I N TA P O R T F O L I O C O M PA N Y P E R F O R M A N C E Revenue For personal use only Brosa is a next generation online designer furniture store leveraging proprietary e-commerce technology and data- driven customer product insights 0.8x • Opportunity to disrupt slow adopting $13bn fu
Slide 17: Financial Performance for the year ended June 2019
Financial Performance For the year ended 30 June 2019 For personal use only FY19 SUMMARY FINANCIALS 30 June 2018 30 June 2019 $000 $000 Change in value of portfolio assets 8,384 32,038 7 investments marked up No investments marked down Interest income 115 44 Total investment growth 8,499 32,082 Mana
Slide 18: Statement of Financial Position
Statement of Financial Position For personal use only FY19 SUMMARY FINANCIALS 30 June 2018 30 June 2019 Movement $000 $000 $000 ($0.5m) follow-on investments $1.7m realisations Cash 3,774 1,423 (2,351) ($3.6m) operating cash Marketable securities - 2,805 2,805 Non-escrowed shares held in ASX-listed
Slide 19: Value of investments increased 24% (net of realisations) in FY19
Value of investments increased 24% (net of realisations) in FY19 For personal use only FY19 SUMMARY FINANCIALS Investment / Valuation Net 30 June 2018 30 June 2019 $m (realisation) Movement Movement SiteMinder 55.9 - 17.0 72.9 17.0 Instaclustr 9.3 - 5.4 14.6 5.4 Straker Translations [ASX:STG] 11.2 (
Slide 20: SaaS is dominating global software industry growth
SaaS is dominating global software industry growth… For personal use only INDUSTRY OUTLOOK Global software industry revenue … and 77% of the BTI portfolio is SaaS Source: Neeraj Agrawal & Logan Bartlett, Battery Ventures, Software May 2019. Note: Homegrown/Internal Software is estimated based on hou
Slide 21: Outlook
Outlook Bailador’s industry sector focus on Software-as-a-Service and Marketplace For personal use only businesses continues to be validated by 30% revenue growth of the BTI portfolio companies at high gross margins INDUSTRY OUTLOOK We anticipate that there will be cash realisations from one or more
Slide 22: Disclaimer
Disclaimer For personal use only This presentation is confidential and may not be reproduced in whole or in part, or distributed except by Bailador Technology Investments Ltd (“Bailador”) or by authorized representatives of Bailador (“Affiliates”). This presentation does not contain a complete descr
Slide 23: Further Information
For personal use only FURTHER INFORMATION Website: www.bailador.com.au Investor Enquiries: investorservices@bailador.com.au Telephone: +61 2 9223 2344 Bailador Technology Investments Limited (ASX:BTI)
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