Slide 1: Full Year Results 2017
Full Year Results 2017 David Richards Chairman & Chief Executive Officer Erik Miller Chief Financial Officer © WANdisco 2018 | wandisco.com
Slide 2: Financial Highlights
FINANCIAL HIGHLIGHTS • Total bookings for the year up 45% to $22.5m (2016: $15.5m) • Big Data bookings rose 121% to $15.7m (2016: $7.1m) • Revenue for the year up 73% to $19.6m (2016: $11.4m) • Cash overheads contained at $24.5m (2016: $23.4m) a reflection of our ongoing cost focus • Adjusted EBITDA
Slide 3: Operational Highlights: A Year of Delivery
OPERATIONAL HIGHLIGHTS: A YEAR OF DELIVERY PRIORITY IN FY 2017 RESULT Demonstrate Fusion could be deployed at Deployed with significant customers at scale & released WANdisco significant enterprise scale Fusion 2.11 with up to 75% throughput improvement. Deepening our product integration with Integr
Slide 4: Financial Results
FINANCIAL RESULTS © WANdisco 2018 | wandisco.com
Slide 5: Financial Highlights
FINANCIAL HIGHLIGHTS 2017 2016 Strong growth in bookings Commercial strategy delivering Big Data ramp $22.5m $15.5m Growth in revenue Recognized revenue $19.6m $11.4m Cost base contained Cash overheads $24.5m $23.4m EBITDA loss reduced significantly Adjusted EBITDA* ($0.6m) ($7.5m) Cash position str
Slide 6: Big Data Bookings Metrics
BIG DATA BOOKINGS METRICS Number of Total Average • New sales bookings more than new deals bookings selling price doubled from $7.1 million in 2016 13 $15.7m >$1m to $15.7 million in 2017 2017 • Average bookings value increased from $286,000 in 2016 2016 to >$1 million in 2017 27% 53% 47% 73% Royalt
Slide 7: Recognized Revenue
RECOGNIZED REVENUE • Recognized revenue increase due to Big Data royalty flow Bookings to revenue ($m) 2017 2016 from IBM and perpetual bookings Sales Bookings 22.5 15.5 New deferred revenue (13.1) (12.0) • Average deal size continues to increase, with several bookings valued above $1m New recognise
Slide 8: Profit & Loss
PROFIT & LOSS $m 2017 2016 $m change New sales bookings 22.5 15.5 7.0 Ramping Big Data significantly improved bookings Revenue 19.6 11.4 8.2 New sales + deferrals Cost of sales (2.0) (1.4) (0.6) Sales commissions Gross profit 17.6 10.0 7.6 Headcount increased from 118 to 132 at 31 December “CASH OVE
Slide 9: Continued focus on efficient cost structure
Continued focus on efficient cost structure • Strong cost discipline has resulted in an efficient cost structure • Reduced cash overheads from $34.6m in 2015 to $24.5m in 2017 • Indirect sales model with global cloud vendors offers significant operating leverage • Targeted investments in engineering
Slide 10: Summary Cash Flow
SUMMARY CASH FLOW Cash flow statement ($m) 2017 2016 Statutory loss (13.5) (9.3) Adjustments for non-cash items 12.8 2.5 Working capital movements 1.4 3.9 Tax received/interest paid 1.0 0.5 Net cash used in operating activities 1.7 (2.4) Capex/development costs capitalized (7.0) (5.9) Equity proceed
Slide 11: Summary Balance Sheet
SUMMARY BALANCE SHEET Balance sheet ($m) 31 Dec 2017 31 Dec 2016 Non-current assets 8.5 6.5 Trade and other receivables 6.0 6.1 Cash and cash equivalents 27.4 7.6 Current assets 33.4 13.7 TOTAL ASSETS 41.9 20.2 Trade and all other payables (5.9) (3.5) Current deferred income (7.1) (5.8) Cu
Slide 12: Operational Highlights
OPERATIONAL HIGHLIGHTS © WANdisco 2018 | wandisco.com
Slide 13: Our Evolution
Our Evolution Active Live Data Paxos Active-Active WAN Transactional scope replication Data Replication © WANdisco 2018 | wandisco.com
Slide 14: The Requirements: Live Data
THE REQUIREMENTS: LIVE DATA Put ALL your data to work for your company, at every moment always always always always at AVAILABLE ACCURATE PROTECTED HYPERSCALE ECONOMICS shared logical full integrity with no single fundamentally pool of data mathematical consistency source of failure lower cost struc
Slide 15: 2X ZERO: Realizing the Live Data future
FORWARD-THINKING EXECS HAVE FIGURED IT OUT Realizing the LIVE DATA future FORTUNE 50 FORTUNE 50 GLOBAL 50 Motor Vehicle Retailer Bank Company 100% uptime while moving massive, 2X compute capacity fully deployed ZERO planned outages while seamlessly continuously changing sets by reducing server hardw
Slide 16: Addressable market for WANdisco products
Addressable market for WANdisco products (assuming 10% of all stored data requires continuous replication) 12.5 WANdisco Products: • Non-Stop Hadoop 10.0 • Fusion Billions ($) 7.5 5.0 All else NFS 2.5 Cloud Object Storage 0.0 Hadoop 2015 2016 2017 2018 2019 2020 Source: Cisco Global Cloud Index: 201
Slide 17: Our Business Model
Our Business Model • Pure software solutions / Intellectual property – Very scalable, very high gross margin • WANdisco Fusion leverages burgeoning Big Data and Cloud markets • Customer base from the Global 2000 with recurring subscription revenue • Operational leverage from strategic channel partne
Slide 18: Revenue growth and market share of cloud vendors
Revenue growth and market share of cloud vendors Source: Edison Investment Research 2017 and company reports © WANdisco 2018 | wandisco.com
Slide 19: Status of strategic partners
Status of strategic partners OEM white-label as IBM Big Replicate OEM into Virtustream* cloud Marketplace listing, incentivised sales and product integration Strategic co-sell partnership, incentivised sales and product integration Highest accreditation based on Oracle proven best practices Strategi
Slide 20: OEM deal signed April 2016 for IBM Big Replicate
OEM deal signed April 2016 for “IBM Big Replicate” • Non-exclusive agreement – Does not preclude WANdisco from signing other OEMs • Go-to-Market started in late 2016 – Trained quota carrying IBM sales representatives • First major deal with automotive multinational – $1m contract win in 2016 • Two r
Slide 21: WANdisco launches OEM partnership with Virtustream
WANdisco launches OEM partnership with Virtustream* • Non-exclusive agreement – Does not preclude WANdisco from signing other OEMs • Further increase in Total Addressable Market – Partnership significantly expands Fusion's addressable market and ability to execute against the opportunity • Strong en
Slide 22: Progress with strategic partners
Progress with strategic partners • WANdisco Fusion sold as standard component on Alibaba Cloud • First OEM agreement in China, expanding addressable market • Applications include Live Data migration, disaster recovery and hybrid big data with Alibaba Cloud • Non-exclusive agreement © WANdisco 2018 |
Slide 23: WANdisco
WANDISCO DEEP, UNIQUE IP PROVEN SUCCESS PARTNER MOMENTUM 11 PATENTS MORE THAN 300 THE CHOICE OF AND 27 PATENTS GLOBAL2000 INDUSTRY LEADERS: PATENTS PENDING CUSTOMERS OEMs WITH IBM, DELL/EMC DOMAIN EXPERTISE GLOBAL PRESENCE OUTLOOK UNMATCHED OFFICES WORLDWIDE STRONG PIPELINE ALGORITHM FOR DUAL HQ: UK
Slide 24: Thank You
THANK YOU © WANdisco 2018 | wandisco.com
Slide 25: Cash Flow
CASH FLOW Working capital ($m) 2017 2016 Cash flow ($m) 2017 2016 Receivables 6.3 4.7 Payables (4.8) (3.5) Adjusted EBITDA (0.6) (7.5) Deferred revenue (14.2) (12.5) Net working capital (12.7) (11.3) Net working capital change 1.4 3.9 Currency, interest, tax 0.9 1.2 Cash flow from operations 1.7 (2.