Cirata Plc · LSE:CRTA
Cirata — WANdisco — Investor Presentation (June 2023)
21 slides from Cirata's investor presentation, June 2023
Slide 1: WANdisco Investment Overview June 2023
WANdisco Investment Overview JUNE 2023 Stephen Kelly, CEO Ijoma Maluza, CFO Paul Scott-Murphy, CTO 1 I © 2023 WANdisco PLC . All rights reserved.
Slide 2: Safe harbour - legal disclaimer
Safe harbour - legal disclaimer This document comprises the written materials/slides for a presentation (together with any accompanying information communicated verbally (including any questions and answers session and any material distributed at, or in connection with, the presentation), and includ
Slide 3: Safe harbour - legal disclaimer, continued
Safe harbour - legal disclaimer, continued To the extent permitted by law or regulation, no undertaking, representation or warranty or other assurance, express or implied, is made or given by or on behalf of the Company, Stifel Nicolaus Europe Limited (“Stifel”), the Company's nominated advisor and
Slide 4: Executive team: Strong growth credentials
Executive team: Strong growth credentials Stephen Kelly – Chief Executive Appointed May 10 Growth technology veteran Strong sales, marketing and go to market credentials Paul Scott-Murphy – CTO 9 years WANdisco Exceptional technical background Strong product knowledge Ijoma Maluza – CFO Started Apri
Slide 5: Executive summary
Executive summary • Irregularities in sales bookings and projections drove increasing cost base BACKGROUND • Accelerated cash burn depleted cash resources • Actions taken to reduce cost base to circa $25m annual run rate RESPONSE • Cost optimization ongoing - capital discipline • New Chair , CEO and
Slide 6: What we found: Perception vs. reality
What we found: Perception vs. reality Perception Reality Opportunity • Investigation concluded on irregularities related to contracts 8 companies announced • No sales, technical, or engineering engagement Business reset in 2022/ 23 • No contractual relationships • Multi year term licence and Perpetu
Slide 7: What we found: Solid foundations for growth
What we found: Solid foundations for growth Turnaround plan - build for growth Prospect rate • True when there is a POC, close rate is 80% • Turnaround plan created is high • Focus sales and GTM • Differentiated for use in large data sets • Establish sustainable product /market fit Technology • Peta
Slide 8: Products and Customers
Products and Customers 8 I © 2023 WANdisco PLC. All rights reserved.
Slide 9: Application Lifecycle Management
Application Lifecycle Management • Legacy business Continuous Scalable replication • Profitable Value • Low growth proposition • Direct sales model Single sources Zero backup of truth 9 I © 2023 WANdisco PLC. All rights reserved.
Slide 10: Network of partners & customers
Network of partners & customers Partners Customers IBM Our Data Integration partner network Our ALM customer base 10 I © 2023 WANdisco PLC. All rights reserved.
Slide 11: Data Integration: Core growth product
Data Integration: Core growth product KEY VALUE PRODUCTS USE CASES ALTERNATIVES DIFFERENTIATION PROPOSITION Faster than Continuous Addresses critical Custom tools Data Migrator competing transfer of data business problem ETL/ELT offerings Petabyte No scale downtime Data Migrator Cloud migration Acce
Slide 12: Market
Market 12 I © 2023 WANdisco PLC. All rights reserved.
Slide 13: Market opportunity: SAM $1.4B growing at 10% p.a to $2.0bn
Market opportunity: SAM $1.4B growing at 10% p.a to $2.0bn Unstructured data is the future TMO $10.6 bn Data Management 90% of new data created annually through 2026 will be unstructured TAM $4.5 bn Data Integration IoT sensor data is a new Cloud computing continues to source of value and data be a
Slide 14: Turnaround plan – growth strategy
Turnaround plan – growth strategy 14 I © 2023 WANdisco PLC. All rights reserved.
Slide 15: Focused execution: Growth turnaround stream
Focused execution: Growth turnaround stream • Rebrand and rename project underway Position for the future • Pipeline build Revenue Growth • Pricing model simplification and sales process Sustainable business powered by recurring revenue rationalization • Recurring revenue price model review Organisa
Slide 16: Long-term transition
Long-term transition • Moving towards recurring revenues based on subscription with additional usage revenue Business model • Focus on growth through retention and customer obsession • Support customer success with implementation excellence • Vertical orientation with focus on selected use cases • S
Slide 17: Financials
Financials1,2 Bookings Revenue • Bookings in H2 2022 14.0 12.0 adversely affected by focus 12.0 $11.5m 10.0 $9.7m on irregular POs 10.0 8.0 $7.3m 8.0 • Revenue performance in line 6.0 $6.2m 6.0 with bookings performance1 4.0 4.0 2.0 • Strong underlying potential 2.0 - - profitability from high gross
Slide 18: Historic Revenue detail
Historic Revenue detail1,2,3 • For FY22, 56% of revenues came from ALM products and services1 FY22 revenue split by product • Revenue breakdown Application lifecycle management • Software subscriptions: Split between term license and maintenance & 44% Data Integration support 56% • Mostly three-year
Slide 19: Rule of 40 – aspiration for the growth model
Rule of 40 – aspiration for the growth model 1 Short-term Medium-term Long term • FY23 Revenue growth impacted • Revenue CAGR > 50% • Rule of 40 by business reset • GM 85% • c.10% share of SAM FY28 • Cost model reset to c. $25m • Rule of 402 • GM 85% • Foundations for growth • Cost base as % of reve
Slide 20: Concluding remarks
Concluding remarks • Company’s independent investigation now behind us • Governance, systems and controls now fit for purpose • Highly experienced management team • Focused turnaround plan now in place • Compelling equity story built on attractive market and strong competitive position with strong l
Slide 21: Thank you
THANK YOU www.wandisco.com Connect @wandisco 21 I Copyright© 2005-2023 WANdisco, Inc. All right reserved. The WANdisco logo is a registered mark of WANdisco.