Slide 1: 1H24 Financial Results
1H24 J O N AT H A N R U B I N S Z T E I N CHIEF EXECUTIVE OFFICER CHAD BARTON C H I E F O P E R AT I N G O F F I C E R A N D FINANCIAL CHIEF FINANCIAL OFFICER RESULTS 19 FEBRUARY 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 3
Slide 4: Nuix in Numbers
NUIX IN NUMBERS 20+ 1000+ File types that can be G L O B A L F O OT P R I N T We operate globally with experts on the ground across North America, EMEA YEARS processed by the Nuix Engine OF and APAC EXPERIENCE 400+ & 1000 Nuix is a leading provider of investigative analytics and intelligence softwar
Slide 5: Finds the Truth in Data
OUR POWERFUL WE HELP OUR Protect Personal Detect ENGINE CUSTOMERS… Data Insider Threats FINDS THE TRUTH IN Achieve Uncover Manage Complex DATA Compliance Fraud Legal Cases We help customers collect, process and review massive amounts of structured and unstructured data, making it searchable and Hunt
Slide 6: 1H24 Key Messages
1H24 KEY MESSAGES 1. Continued growth in ACV, Statutory Revenue and Underlying EBITDA 2. Elevated non-operational legal fees impacted Statutory EBITDA in the half 3. NDR uplift, with customer upsell more than offsetting uptick in churn 4. Underlying Cash Flow positive 5. Successful launch of Nuix Ne
Slide 7: 1H24 Key Financial Metrics
1H24 KEY FINANCIAL METRICS Underlying EBITDA Annualised Contract Value (ACV)1 Statutory Revenue $28.4m $199.6m $98.4m Up 12.8% on 1H23 Up 17.3% on 1H23 Up 12.3% on 1H23 Statutory EBITDA $17.2m Down 17.6% on 1H23 Net Dollar Retention1 Customer Churn1 Net Cash 110.1% 5.7% $24.0m Up from 103.1% in 1H23
Slide 8: 2. Financial Results
2. FINANCIAL RESULTS CHAD BARTON CHIEF OPERATING OFFICER AND CHIEF FINANCIAL OFFICER 8
Slide 9: Annualised Contract Value (ACV)
ANNUALISED CONTRACT VALUE (ACV) ACV growth +17.3% driven by existing customers ACV ($m) 1H24 ACV +17.3% 199.6 14.3 $199.6m (+17.3%) as at 31/12/23 170.2 164.5 > Total ACV up 17.3% on pcp, up 16.1% in constant currency1 11.9 +17.1% 16.6 > ACV up 7.6% from June 23, up 6.5% in constant currency > Subsc
Slide 10: Regional Performance
REGIONAL PERFORMANCE Double digit growth rates across all regions North Asia $105.8m America $52.6m EMEA $41.2m Pacific ACV up 18.7% ACV up 13.5% ACV up 18.8% North America EMEA Asia Pacific > North America ACV up 18.7% on pcp, up > EMEA ACV up 13.5% on pcp, up 11.5% in > APAC ACV up 18.8% on pcp, u
Slide 11: Strong Growth in SaaS ACV
STRONG GROWTH IN SAAS ACV Discover SaaS up +33.3% on continued strong demand SaaS1 ACV ($m) 1H24 SaaS ACV +33.3% $21.6m (+33.3%) as at 31/12/23 > SaaS ACV up 33.3% on pcp, up 32.1% in constant currency2 > Continued strong demand for Discover SaaS product, particularly from APAC Law Firms 21.6 > Furt
Slide 12: Statutory Revenue
STATUTORY REVENUE Revenue growth underpinnned by customer upsell Statutory Revenue ($m) 1H24 REVENUE $98.4m (+12.3%) +12.3% > Revenue up 12.3% on pcp, up 9.3% in constant currency1 > Subscription revenue2 95% of total revenue > Revenue growth primarily driven by upsell to existing customer base > Mu
Slide 13: Research & Development
RESEARCH & DEVELOPMENT Realisation of efficiencies and focus on areas of strength 50.0 Total R&D Spend ($m) 40% 45.0 34% 34% 35% > R&D investment remains focused on sustainable revenue generation, particularly in Nuix Neo and related solutions 40.0 30% 27% > Total R&D spend down 10.2% on implementat
Slide 14: Income Statement
1H24 Change $ millions 1H24 1H23 Change3 CC4 CC3 Software Revenue 94.7 85.1 11.2% 92.1 8.3% Other Revenue Total Revenue 3.8 98.4 2.6 87.6 48.6% 12.3% 3.7 95.8 43.4% 9.3% INCOME STATEMENT Cost of Goods Sold -10.1 -11.7 -13.7% -9.7 -16.9% Underlying EBITDA up 12.8%1 on pcp, up 9.7% in constant currenc
Slide 15: Statutory vs Underlying EBITDA
STATUTORY VS UNDERLYING EBITDA Revenue growth and cost containment driving underlying operating leverage Topos operating costs now included in Underlying EBITDA Non-operational legal costs impacted Statutory EBITDA in the period Underlying EBITDA +12.8% on pcp 15
Slide 16: Free Cash Flow
FREE CASH FLOW Underlying Free Cash Flow +$6.6m Nuix aims to be Underlying • Positive cash flow from underlying free cash Free Cash Flow +$6.6m vs operations, in keeping with flow neutral -$0.5m in 1H23 full year objective • Software development costs continue to be funded from free cash flow • Ramp
Slide 17: Customer Base
CUSTOMER BASE Long tenured, diversified customer base presents further upsell opportunities ACV by Customer Customer • ~85% of ACV generated outside Industry Group Concentration Tenure Australia 15% 13% • No customer represents more 26% 33% than 4% of ACV 36% 37% 14% • 37% of ACV derived from custom
Slide 18: New Revolving Debt Facility Agreement
NEW REVOLVING DEBT FACILITY AGREEMENT Provides greater capital base flexibility to drive growth NEW > Facility agreement with global bank to provide A$30 million revolving credit facility > Three year maturity A$30m > For general corporate purposes other than costs associated with litigation, arbitr
Slide 19: 3. Nuix Neo Update
3. NUIX NEO UPDATE JONATHAN RUBINSZTEIN CHIEF EXECUTIVE OFFICER 19
Slide 20: Nuix Neo Launched 1H24
™ LAUNCHED 1H24 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 significant efficiency
Slide 21: FY24 Product Roadmap
™ 1. DATA PRIVACY Launched to Provides customers with forensic depth early adopters and defensibility to analyse sensitive 1H24 data and protect businesses and customers FY24 2. INVESTIGATIONS Launched to PRODUCT Apply an array of collaborative AI early adopters ROADMAP techniques to quickly make co
Slide 22: Early Adopter Program
™ EARLY ADOPTER PROGRAM Successful partnerships with early adopters Nuix is partnering with a small number of early adopters in FY24 as solutions are released Nuix Neo Early Adopter ACV Dedicated expert services for Early Adopters to achieve accelerated customer ROI $4.1m By December, Nuix was
Slide 23: Nuix Neo Roadmap Update
NUIX NEO ROADMAP UPDATE Solution releases on track with next release Legal Processing FY24 FY25 1H24 2H24 EARLY ADOPTER RELEASES Rollout commenced with select early adopters for each release Legal Processing launch 2H24 1. DATA PRIVACY Adoption accelerates into FY25 and beyond 2. INVESTIGATIONS ™ 3.
Slide 24: 4. Outlook
4. OUTLOOK JONATHAN RUBINSZTEIN CHIEF EXECUTIVE OFFICER 24
Slide 25: Outlook
OUTLOOK Strategic targets for full year retained STRATEGIC TARGETS FY24: • Targeting ~10% ACV and Statutory Revenue growth in constant currency • Successful rollout of Nuix Neo and associated Solutions to Early Adopters • Broadened sales focus to further drive new business • Revenue growth to exceed
Slide 26: Q&A
Q&A Snux
Slide 27: Appendix
APPENDIX Snux
Slide 28: Balance Sheet
$ millions, as at 31 Dec 23 30 Jun 23 ASSETS Cash and cash equivalents Trade and other receivables 24.0 40.7 29.6 41.4 BALANCE SHEET Unbilled receivables 40.4 39.0 Other current assets 7.9 9.5 > Cash Balance $24.0m Property, plant and equipment 2.5 2.9 > Rampiva payment made July 23 US$2.4m (A$3.6m)
Slide 29: ACV by Licence Type
ACV BY LICENCE TYPE ACV by Licence Type 199.6 5% 170.2 2% > Consumption licences continue to grow as a proportion of total 164.5 5% 14% 6% 2% ACV, driven by Discover SaaS and Nuix Neo 4% 14% 14% 19% > Services remain a further growth opportunity 18% 16% 60% 60% 61% 1H22 1H23 1H24 Module ACV Consumpt
Slide 30: Statutory Revenue Components
STATUTORY REVENUE COMPONENTS Subscription Licence Type Regional Revenue Revenue Revenue 98.4 98.4 98.4 > Statutory revenue includes the majority of multi-year deal 4% revenue up front, while ACV smooths multi-year deal contracts 5% 1% 14% 14% across relevant years 16% 35% > Subscription revenue: 95%
Slide 31: Revenue Mix and Licence Types
REVENUE MIX AND LICENCE TYPES Other Revenue Revenue Software Revenue Type (4% 1H24 (96% 1H24 Total Revenue) Total Revenue) Subscription Perpetual Sales > Subscription Revenue includes Module, Consumption and Software (95% 1H24 Total Revenue) Hardware / (1% 1H24 Licence Perpetual Total Services Perpe
Slide 32: 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 Subscription licence1 • $1.2m on-premise module licence – 1 year or 1.2 1.2 1.2 • $3.6m on-premise module licence – 3 years consumpti
Slide 33: 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 34: 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 35: Constant Currency
CONSTANT CURRENCY Constant Currency has been calculated using the below methodology: 1. Constant currency rates are calculated by dividing the total 1H23 consolidated AUD revenue associated with a currency by the total 1H23 transaction currency revenue of the same currency, providing a weighted aver
Slide 36: 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 February 2024). It is provided in summary and does not purport to be complete. This information has been prepared by Nuix Limite