Bailador Technology Investments Ltd · ASX:BTI
Bailador Technology Investments — Investor Presentation (July 2020)
24 slides from Bailador Technology Investments's investor presentation, Jul 13, 2020
Slide 1: Financial Year End Update
For personal use only Financial Year End Update July 2020 Bailador Technology Investments Limited (ASX:BTI)
Slide 2: Executive Summary
Executive Summary For personal use only ü The Bailador portfolio had great momentum going into COVID and has performed strongly through it ⇢ Portfolio revenue growth rate to 30 June is 20% ü The Bailador portfolio companies are well capitalised – no liquidity concerns ü Portfolio valuations at 30 Ju
Slide 3: Bailador's portfolio of 10 established fast growth technology companies has enviable characteristics
Bailador’s portfolio of 10 established fast growth technology companies has enviable characteristics For personal use only $278m The portfolio has critical mass ⇢ Only three SaaS companies listed on the ASX have greater portfolio company revenue1 revenue than the combined Bailador portfolio 20% High
Slide 4: SiteMinder
54% O F B T I N TA For personal use only SiteMinder is the world leader in connecting hotels to online distribution channels for accommodation bookings Cash • Raised >$100m (primary & secondary) at $1b+ valuation in January 2020 High level of cash following January 2020 capital raise. • Subscription
Slide 5: Instaclustr
13% O F B T I N TA For personal use only Instaclustr is an open-source-as-a-service platform for complex big data applications • Rapidly rising star Cash Significant cash balance. • Instaclustr has seen minimal impact from COVID, continuing to grow strongly Sustainability • Major new client wins in
Slide 6: Lendi
7% O F B T I N TA For personal use only Lendi is a Fintech online platform that radically simplifies the process of obtaining a home loan Cash Significant cash balance after December 2019 capital • The business is a net beneficiary from COVID driving increased raise through convertible instrument li
Slide 7: Document productivity legaltech portfolio company
7% O F B T I N TA For personal use only Global leader in the rapidly growing document productivity segment of the Legaltech market • No customer losses as product essential for client operations Cash Cash generative with significant cash on balance • Small cost reductions undertaken sheet. • Timelin
Slide 8: Big data ad expenditure platform
6% O F B T I N TA For personal use only Big data aggregation and analysis platform with exclusive access to ad expenditure data • Minimal COVID impact Cash Significant cash on balance sheet from continuing and • US Data pool expanded with Group M addition growing retained earnings. • SMI launched in
Slide 9: Rezdy
4% O F B T I N TA Cash For personal use only Adequately capitalised after September 2019 capital raise. Leading, innovative and fast-growing B2B marketplace for tours & activities. Sustainability Government support and other cost reductions limit • Significant short term impact from COVID losses. No
Slide 10: Straker Translations
4% O F B T I N TA For personal use only Straker Translations is a world leading AI data driven language translation platform powering the global growth of businesses Cash Solid cash balance. • COVID has not had significant financial impact on the business NZ$11.2m cash (no debt) as at 31 March 2020.
Slide 11: Brosa
2% O F B T I N TA For personal use only BROSA is the leading Australian vertically integrated and digital native furniture retailer • Net beneficiary from COVID Cash Modest cash reserves but increasing cash on balance • Demand for furniture is up as people isolate at home sheet as retained earnings
Slide 12: Stackla
0% O F B T I N TA For personal use only Leading AI powered tech platform for brands to leverage User Generated Content (UGC) in their marketing strategy Cash Stable modest cash position. • Stackla has continued to win large enterprise deals with blue chip customers over the half, but has also experi
Slide 13: Viostream
0% O F B T I N TA For personal use only Viostream is a cloud-based video management, storage and distribution platform for enterprises Cash Cash balance growing strongly recently as retained • COVID disruption has exponentially increased the use of video and earnings build. strengthened Viostream’s
Slide 14: BTI is well positioned to generate value growth across the portfolio
BTI is well positioned to generate value growth across the portfolio For personal use only Portfolio company Current valuation NTA per share Comment 82.5 0.67 Proven winner; Withstanding COVID travel disruption well 19.0 0.15 Emerging Star. Hot sector. IPO candidate 10.9 0.09 Solid profitable co. Ac
Slide 15: The BTI portfolio is conservatively valued
The BTI portfolio is conservatively valued The BTI portfolio is 80% SaaS by value. Peer average For personal use only It demonstrates premium BTI Portfolio1 characteristics, and can be accessed at a Wisetech valuation allowing for material upside Altium returns ASX Listed2 Xero Australian Canva4 Pri
Slide 16: Tech companies are outperforming during COVID, and digital adoption is accelerating
Tech companies are outperforming during COVID, and digital adoption is accelerating For personal use only “COVID-19 is a wake-up call to accelerate digital transformation, as companies with a greater digital presence are showing more resilience in the wake of the pandemic. Morgan Stanley, We see dig
Slide 17: Tech valuations have bounced back
Tech valuations have bounced back S&P/ASX All Technology Index vs S&P/ASX200 Index For personal use only Indexed to 25 Jun 20 = 100 120 110 S&P/ASX All Technology Index* Valuations for technology 100 companies have returned 90 to pre-COVID levels reflecting performance and 80 S&P/ASX 200 Index prosp
Slide 18: The BTI share price reduced significantly with the market during March due to COVID concerns
The BTI share price reduced significantly with the market during March due to COVID concerns. It has only partially recovered, representing a buying opportunity For personal use only BTI.ASX vs S&P/ASX All Technology Index $1.20 $1.10 $1.00 BTI share price lagged $0.90 S&P/ASX All Technology Index*
Slide 19: The strong performance of the BTI portfolio has not yet been reflected in the share price
The strong performance of the BTI portfolio businesses has not yet been reflected in the share price For personal use only Portfolio Revenue Growth FY201 +20% 53% differential suggests share price upside Share Price Growth FY202 -33% Note: *A dividend of 2.5c per share was also paid during FY20. Not
Slide 20: Bailador has delivered five partial cash realisations generating a combined IRR of 42.3%
Bailador has delivered five partial cash realisations – generating a combined IRR of 42.3% For personal use only Cash $5.0m Cash $1.2m Cash $0.4m Cash $2.0m Cash $9.9m 7.2x cost 1.7x cost 2.8x cost 2.1x cost 19.3x cost 71.1% IRR 21.5% IRR 35.4% IRR 25.0% IRR 50.5% IRR December 2015 October 2018 Dece
Slide 21: Bailador provides access to quality expansion stage technology companies
For personal use only Bailador provides access to quality expansion stage technology companies at attractive valuations before they are public Investors get access through an ASX traded share [ASX:BTI] with liquidity available at any time 21
Slide 22: Portfolio company details
Portfolio company details For personal use only Name: Type: SaaS/B2B DBaaS/B2B SaaS/Document Productivity Fintech SaaS/Big Data World leader in hotel channel Open source data platform for Global leader in the rapidly Australia’s #1 home loan Big data aggregation and management and distribution About
Slide 23: 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 Investment Ltd (“Bailador”) or by authorized representatives of Bailador (“Affiliates”). This presentation does not contain a complete descri
Slide 24: 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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