Slide 1: FY24 Financial Results
FY24 FINANCIAL RESULTS 19 AUGUST 2024
Slide 2: Agenda
AGENDA KEY MESSAGES & METRICS FINANCIAL RESULTS NUIX NEO UPDATE OUTLOOK 2
Slide 3: 1. Key Messages & Metrics
1. KEY MESSAGES & METRICS JONATHAN RUBINSZTEIN CHIEF EXECUTIVE OFFICER
Slide 4: Nuix: Our Foundation For Growth
NUIX: OUR FOUNDATION FOR GROWTH $211.5m Nuix creates intelligent OUR PLATFORM – centred around our world software to enable our leading data processing engine, amplified with AI and simplified with enterprise automation customers to identify risk, ANNUALISED evidence and value in large OUR CUSTOMERS
Slide 5: FY24 Key Messages
FY24 KEY MESSAGES 1. ACV and Revenue growth in excess of strategic objective 2. Successful launch of Nuix Neo solutions with strong Nuix Neo ACV growth 3. Diversified sources of growth between new and existing customers, and new and existing product offerings 4. Strong growth in Underlying and Statu
Slide 6: FY24 Key Financial Metrics
FY24 KEY FINANCIAL METRICS Annualised Contract Value (ACV)1 Underlying EBITDA Net Dollar Retention $211.5m $64.4m 112.9% Up 14.0% on FY23 Up 38.7% on FY23 Up 3.7% on FY23 Statutory Revenue Statutory EBITDA Net Cash $220.6m $55.9m $38.0m Up 20.9% on FY23 Up 60.2% on FY23 Up 28.5% on FY23 Notes: 1. Re
Slide 7: All FY24 Strategic Objectives Delivered
ALL FY24 STRATEGIC OBJECTIVES DELIVERED STRATEGIC OBJECTIVE OUTCOME • Targeting ~10% ACV and Statutory Revenue growth ACV $211.5m, up 14.0%, up 12.0% in constant currency in constant currency Revenue $220.6m, up 20.9%, up 18.0% in constant currency • Successful rollout of Nuix Neo and associated
Slide 8: 2. Financial Results
2. FINANCIAL RESULTS CHAD BARTON CHIEF OPERATING OFFICER AND CHIEF FINANCIAL OFFICER
Slide 9: Annualised Contract Value (ACV)
ANNUALISED CONTRACT VALUE (ACV) Growth in excess of strategic target with higher Subscription component ACV ($m) FY24 ACV +14.0% $211.5m, up 14.0% as at 30/06/24 > Total ACV up 14.0% on pcp, up 12.0% in constant currency1 > Exceeds strategic target of ~10% ACV growth in constant currency > Subscript
Slide 10: ACV Growth Drivers
ACV GROWTH DRIVERS Nuix Neo contributed ~45% of ACV growth 211.5 > Growth achieved in traditional component sales, with new offerings such as Advantage 185.5 and Rampiva significant contributors Nuix Neo Growth: New Neo sales to existing Component Growth: > Nuix Neo sales a strong contributor to o
Slide 11: Creating Customer Value
CREATING CUSTOMER VALUE Net Dollar Retention has lifted with Customer Churn contained > The strategic focus on existing customers has continued to yield 115 Net Dollar Retention (%) 112.9 20 value benefits, while customer churn has been limited 110.1 18 110 109.2 > NDR reflects the lift in ACV achie
Slide 12: Regional ACV
REGIONAL ACV Growth led by North America North Asia $114.1m America $53.3m EMEA $44.1m Pacific ACV up 18.8% ACV up 6.4% ACV up 11.8% North America EMEA Asia Pacific > North America ACV up 18.8% on pcp, up > EMEA ACV up 6.4% on pcp, up 2.8% in > APAC ACV up 11.8% on pcp, up 11.4% in 17.0% in constant
Slide 13: Revenue
REVENUE Revenue well above strategic target with key renewals Statutory Revenue ($m) +20.9% FY24 REVENUE 200.0 $220.6m, up 20.9% > Revenue up 20.9% on pcp, up 18.0% in constant currency1 150.0 > Exceeds strategic target of ~10% revenue growth in constant currency 220.6 > Subscription revenue2, an in
Slide 14: Research & Development
RESEARCH & DEVELOPMENT Efficiency benefits realised alongside project delivery 100.0 Total R&D Spend ($m) 50% 38% 90.0 40% 33% 80.0 24% 30% 70.0 20% > Research and Development investment funded from underlying cash flow 58.3 60.0 60.0 53.0 10% and remains focused on growth initiatives 50.0 15.9 20.2
Slide 15: Strong Growth In EBITDA
STRONG GROWTH IN EBITDA Driving operational leverage in line with objectives 80.0 Underlying EBITDA ($m) 60.0 +38.7% FY24 UNDERLYING EBITDA $64.4m, up 38.7% 40.0 64.4 20.0 46.4 29.2 FY24 STATUTORY EBITDA $55.9m, up 60.2% 0.0 FY22 FY23 FY24 > Revenue growth combined with focus on cost containment con
Slide 16: Statutory Vs Underlying EBITDA
STATUTORY VS UNDERLYING EBITDA Operating leverage driven by revenue growth and cost containment Topos operating costs included in Underlying EBITDA from FY24 onwards on full integration Net non-operational legal costs1 in line with prior year Underlying EBITDA +38.7% on pcp Notes: 1. Non-Operational
Slide 17: Income Statement
$ millions FY24 FY23 Change5 Software Revenue Other Revenue 212.4 8.2 176.7 5.8 20.2% 42.1% INCOME STATEMENT Total Revenue 220.6 182.5 20.9% Underlying EBITDA up 38.7%1 on pcp, up 34.2%2 in constant currency Cost of Goods Sold -21.6 -23.0 5.7% Statutory EBITDA up 60.2% on pcp, up 54.3% in constant c
Slide 18: Cash EBITDA
CASH EBITDA Lift in Cash EBITDA and margin 50.0 20.0% FY24 CASH EBITDA Cash EBITDA ($m) $29.9m, up 351% 40.0 13.6% 15.0% 30.0 > Cash EBITDA incorporates the full Research & Development investment 10.0% 20.0 spend, including capitalised component, but excludes net non-operational 29.9 3.6% +351% 5.0%
Slide 19: Free Cash Flow
FREE CASH FLOW Overall Cash Flow positive • Nuix aims to be Positive cash flow from operations, in line with full year objective underlying free cash Underlying • As in prior years, software development costs funded from free cash flow flow neutral Free Cash Flow $24.7m vs Overall • Rampiva acquisit
Slide 20: Strong Cash Flow Generation
STRONG CASH FLOW GENERATION Turnaround in underlying and total free cash flow Underlying Free Cash Flow ($m) Overall Free Cash Flow ($m) 20.0 20.0 +171% 15.0 15.0 10.0 24.7 10.0 >100% 5.0 9.1 5.0 11.9 0.0 -2.5 0.0 FY22 FY23 FY24 FY22 FY23 FY24 -5.0 -5.0 -10.0 -10.0 -12.9 -15.0 -15.0 -21.5 -20.0 -20.
Slide 21: 3. Nuix Neo Update
3. NUIX NEO UPDATE JONATHAN RUBINSZTEIN CHIEF EXECUTIVE OFFICER
Slide 22: Launched FY24
LAUNCHED FY24 Nuix Neo is an AI-enriched FASTER EASIER SMARTER single platform that helps DO MORE, SAVE TIME REDUCE FRICTION AI ENRICHED SOLUTIONS customers identify, process On-demand scalability and End-to-end, web-based, Leverages Nuix AI to risk- and understand complex data, significant efficien
Slide 23: Nuix Neo
NUIX NEO One platform for a broad range of complex data challenges 23
Slide 24: FY24 Product Roadmap
1. DATA PRIVACY Launched to early Provides customers with forensic depth adopters 1H24 and defensibility to analyse sensitive data and protect businesses and customers FY24 PRODUCT 2. INVESTIGATIONS Apply an array of collaborative AI Launched to early adopters 1H24 ROADMAP techniques to quickly make
Slide 25: Nuix Neo ACV
NUIX NEO ACV Rollout gathering momentum FY24 NUIX NEO ACV $12.1m (+195% on 1H) as at 30/06/24 Nuix Neo ACV ($m) > After launch in 1H, early adopter program expanded in the 2H to 23 customers > Combination of sales across Data Privacy and Investigations +195% on > Sales to both new and existing custo
Slide 26: Nuix Neo FY25 Priorities
NUIX NEO FY25 PRIORITIES Expand and further commercialise the three core use cases FY25 Drive Nuix Neo adoption across a broader customer base 1. DATA PRIVACY Expand capabilities of each use case solution 2. INVESTIGATIONS Invest in Deep Learning (AI) innovation 3. LEGAL Increase support for
Slide 27: 4. Outlook
4. OUTLOOK JONATHAN RUBINSZTEIN CHIEF EXECUTIVE OFFICER
Slide 28: Outlook
OUTLOOK STRATEGIC TARGETS FY25: • Targeting ~15% ACV growth in constant currency • Continued successful rollout of Nuix Neo • Revenue growth to exceed operating cost growth1 • Underlying Cash Flow positive for the full year Notes: 1. Excluding net non-operational legal costs 28
Slide 29: Q&A
Q&A 29
Slide 30: Appendix
APPENDIX Snux
Slide 31: Balance Sheet
$ millions, as at 30 Jun 24 30 Jun 23 ASSETS Cash and cash equivalents Trade and other receivables 38.0 35.2 29.6 41.4 BALANCE SHEET Contract assets 53.3 39.0 Other current assets 10.5 9.5 > Cash Balance $38.0m Property, plant and equipment 2.3 2.9 > Rampiva acquisition payment made July 2023 A$3.6m
Slide 32: Customer Base
CUSTOMER BASE Long tenured, well-diversified customer base ACV by Customer Customer • ~85% of ACV generated outside Industry Group Concentration Tenure Australia 13% • No customer represents more 26% 35% 34% than 3% of ACV 37% 37% 18% • 37% of ACV derived from customers with a tenure over 32% 31% 37
Slide 33: ACV By Licence Type
ACV BY LICENCE TYPE Large lift in Consumption driven by Nuix Neo ACV by Licence Type 211.5 4% 1% 185.5 6% 13% > Consumption licences growing as a proportion of total ACV, driven 162.0 3% 6% 14% by Nuix Neo and Discover SaaS 2% 23% 14% 18% > Module licence ACV has grown, but remains a relatively cons
Slide 34: Statutory Revenue Components
STATUTORY REVENUE COMPONENTS Subscription Licence Type Regional Revenue Revenue Revenue > Statutory revenue includes the majority of multi-year deal 5% 4% revenue up front, while ACV smooths multi-year deal contracts 1% 15% 22% across relevant years 26% > Subscription revenue, which reflects the gen
Slide 35: Revenue Mix And Licence Types
REVENUE MIX AND LICENCE TYPES Other Revenue Revenue Software Revenue Type (4% FY24 (96% FY24 Total Revenue) Total Revenue) Subscription Perpetual Sales > Subscription Revenue is recurring in nature and includes Software (95% FY24 Total Revenue) Hardware / (1% FY24 Licence Perpetual Total Services Mo
Slide 36: Licence Type Implications On Revenue Recognition
LICENCE TYPE IMPLICATIONS ON REVENUE RECOGNITION 1 year licence example 3 year MYD licence example Delivery model Licence type Impact in month 1 Impact in month 1 3.6 • $1.2m on-premise module licence – 1 year Subscription or Consumption licence 1.2 1.2 1.2 • $3.6m on-premise module licence – 3 year
Slide 37: Strategic Acquisitions
STRATEGIC ACQUISITIONS Build, buy or partner strategy further enhancing customer offering > Announced 23 May 2023, completed 1 July 2023 > Announced and completed September 2021 > Rampiva is a workflow automation and job scheduling provider and > Natural Language Processing (NLP) technology which ha
Slide 38: Glossary
GLOSSARY 1) Annualised Contract Value (ACV) is an adjusted, non-IFRS measure and does not represent Total Revenue in accordance with AAS or Nuix’s accounting policies or cash receipts from customers. ACV is used by Nuix to assess the total contract value of its software contracts on an annualised ba
Slide 39: Constant Currency
CONSTANT CURRENCY Constant Currency has been calculated using the below methodology: 1. Constant currency rates are calculated by dividing the total FY23 consolidated AUD revenue associated with a currency by the total FY23 transaction currency revenue of the same currency, providing a weighted aver
Slide 40: Disclaimer
DISCLAIMER The material contained in this document is a presentation of general information about Nuix Limited’s activities current as at the date of this presentation (19 August 2024). It is provided in summary and does not purport to be complete. This information has been prepared by Nuix Limited