Slide 1: Q2 2021 Earnings Call Presentation
Q2 2021 Earnings Call Presentation Matt Calkins, Founder & CEO Mark Lynch, CFO
Slide 2: Disclaimer
Disclaimer In this presentation, we may make statements related to our business that are forward-looking statements under federal securities laws and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to our financial
Slide 3: Q2 2021 Highlights
Q2 2021 Highlights Business • Announced acquisition of a leading process mining company • Partners roughly doubled their software bookings for 1H 2021, compared to 1H 2020 Revenue • Cloud subscription revenue was $42.5 million in Q2 2021, representing growth of 44% over Q2 2020 • Subscriptions reven
Slide 4: Cloud Subscription Revenue
Cloud Subscription Revenue (USD, in millions) 42.5 39.1 36.9 34.3 29.6 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 4
Slide 5: Total Revenue
Total Revenue* (USD, in millions) 89.0 81.6 83.0 78.9 77.3 25.1 66.8 26.1 25.5 28.4 26.5 4.9 25.4 4.8 5.1 4.3 4.6 19.9 9.3 14.4 4.5 11.8 17.8 7.4 42.5 36.9 39.1 34.3 28.4 29.6 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Cloud Subscription Revenue On-prem Subscription Revenue Maintenance & Suppor
Slide 6: Cloud Subscription Revenue Retention
Cloud Subscription Revenue Retention 125% 121% 120% 119% 118% 115% 115% 113% 110% 105% 100% Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 6
Slide 7: Mix of Subscriptions and Professional Services Revenue
Mix of Subscriptions and Professional Services Revenue IPO (Q2 2017) Q2 2021 Subscriptions Services Subscriptions Services 51% 49% 69% 31% 7
Slide 8: Gross Margins
Gross Margins* Subscriptions Professional Overall Services 89% 90% 90% 91% 88% 73% 74% 75% 69% 70% 40% 38% 36% 32% 30% Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 8 *Non-GAAP – Data excludes stock-based compensation expense
Slide 9: Q2 2021 Highlights
Q2 2021 Highlights Cloud Subscription Cloud Subscription Overall Gross Margins** Revenue ($MM) Revenue Retention* th r ow 42.5 G % 44 69% 70% 121% 29.6 Q2 2020 Q2 2021 Q2 2020 Q2 2021 *As of June 30, 2021 9 **Non-GAAP – Data does not include any stock-based compensation expense
Slide 10: Guidance – Q3 2021
Guidance – Q3 2021 Given on August 5, 2021 (in millions, except for EPS) Q3 2021 Cloud Subscription Revenue $45.0 – $45.5 Cloud Subscription Revenue Growth YoY 31% – 33% Total Revenue $90.5 – $91.0 Total Revenue Increase YoY 17% – 18% Adjusted EBITDA Loss $(13.0) – $(11.0) Non-GAAP Loss per Share $(
Slide 11: Guidance – Full Year 2021
Guidance – Full Year 2021 Given on August 5, 2021 (in millions, except for EPS) Prior Revised Cloud Subscription Revenue $171.0 – $172.0 $174.0 – $175.0 Cloud Subscription Revenue Growth YoY 32% – 33% 35% Total Revenue $353.0 – $355.0 $355.0 – $357.0 Total Revenue Increase YoY 16% – 17% 17% Adjusted
Slide 12: Appendix
Appendix
Slide 13: Balance Sheet
Balance Sheet As of December 31, $ in thousands June 30, 2021 2020 Assets (unaudited) Cash and cash equivalents $ 131,279 $ 112,462 Short-term investments and marketable securities 111,324 109,826 Accounts receivable, net of allowance of $1,400 as of each of June 30, 2021 and December 31, 2020 82,30
Slide 14: Income Statement
Income Statement Three Months Ended June 30, Six Months Ended June 30, $ in thousands, except for share and per share data 2021 2020 2021 2020 (unaudited) (unaudited) Revenue SaaS (cloud) subscriptions $ 42,486 $ 29,580 $ 81,539 $ 57,970 Term license (on premises) subscriptions 9,323 7,379 29,176 25
Slide 15: Stock-Based Compensation Expense
Stock-Based Compensation Expense Three Months Ended June 30, Six Months Ended June 30, $ in thousands 2021 2020 2021 2020 (unaudited) (unaudited) Cost of revenue Subscriptions $ 295 $ 229 $ 592 $ 442 Professional services 865 317 1,506 529 Operating expenses Sales and marketing 1,197 657 2,305 1,410
Slide 16: Reconciliation of GAAP Measures to Non-GAAP Measures
Reconciliation of GAAP Measures to Non-GAAP Measures Three Months Ended June 30, Six Months Ended June 30, $ in thousands, except for share and per share data 2021 2020 2021 2020 (unaudited) (unaudited) Reconciliation of non-GAAP operating loss: GAAP operating loss $ (24,576) $ (12,095) $ (35,066) $
Slide 17: appian
appian