Slide 1: FCT July Update
For personal use only Cloud security through cloud gateway intelligence FCT July Update Innovate • Create • Execute July 2017 1
Slide 2: Agenda
For personal use only AGENDA Executive Summary – Steve O’Brien, MD Financial & Operational Update – David Kirton, CFO Technology Update – Simon Ryan, CTO International Update – Steve O’Brien, MD 2
Slide 3: Corporate Overview
Corporate Overview For personal use only ASX:FCT Share Price since listing $0.70 Share price $0.28 Shares on issue 179.8m $0.60 Cash at bank $1.8m $0.50 Market capitalisation (undiluted) $52.1m Enterprise value $50.3m $0.40 Options of issue 23.6m Major shareholders $0.30 MAREN SUPER FUND A/C 9.10% L
Slide 4: Introduction To FirstWave
Introduction To FirstWave For personal use only Australian tech company Heritage from Telstra’s Delivers Multi-Tenanted established in early 2000’s Research Labs focusing Multi-Vendor embedded Listed ASX:FCT on SaaS based Cloud security solutions in private Content Security and public cloud environm
Slide 5: Highlights
Highlights For personal use only FIRSTWAVE TODAY 11 102% 44 ~2,000,000 ~100,000 Operational Growth New Product Scale Scale Cloud Platforms Recurring Revenue Customer Acquisitions Customer User Customer Users (Points of Presence) (PCP FY2017) (NGFWs in 2017) Mailboxes Filtered For Web Security 5
Slide 6: FirstWave Platform
FirstWave Platform For personal use only WHAT IS IT? WHY IS IT IMPORTANT? • Embedded orchestration platform for Telco/SPs • Multi-vendor, multi-appliance, multi-cloud • Centralised control, management & reporting • Single pane of glass to all services • Asia/Pac development & support • Ability to co
Slide 7: Non Financial Operational Highlights
Non Financial Operational Highlights For personal use only Sales & Marketing R&D Operations ✓ Telstra GPA (Next Generation Firewall) is live ✓ Release of R0.4 reference architecture - ✓ Telstra G-Cloud platform delivered and one-touch management and orchestration IRAP certified ✓ Telstra sales chann
Slide 8: Finance & Operational Update
For personal use only Finance & Operational Update 9
Slide 9: FirstWave FY2017 - Finance and Operational
FirstWave FY2017- Finance and Operational For personal use only Quarterly Half Yearly Annually Executive Alignment Revenue Quarterly Data Quarterly Data Metrics aligned and Monthly (MRR) plus plus integrated into FY18 Annualised (AMRR) Operating Metrics Operating Metrics Corporate Plan Profe
Slide 10: Monthly Recurring Revenue (MRR)
FirstWave FY2017 – Finance and Operational For personal use only MONTHLY RECURRING REVENUE (MRR) MRR $749 MRR +102% year-on-year to $749k Monthly Recurring Revenue (MRR) (000’s) $700 FY17 work package revenue associated with deploying newly launched NGFW, Email and Web services grew to 13% of re
Slide 11: Annualised Monthly Recurring Revenue (AMRR)
FirstWave FY2017 – Finance and Operational For personal use only ANNUALISED MONTHLY RECURRING REVENUE (AMRR) Annualised Monthly Recurring Revenue (AMRR) (000’s) AMRR $11,250 AMRR +102% year-on-year to $8,993k Enterprise AMRR and volume is tracking $8,993 to expectation $9,000 Soft market launc
Slide 12: Channel Customer Order Number Growth (Telstra)
FirstWave FY2017 – Finance and Operational For personal use only CHANNEL CUSTOMER ORDER NO. GROWTH (TELSTRA) No of Customer Orders 50 No of Customers Orders (MRR > $3,200) Customer Order No’s 200 188 175 45 Total No of customer order’s billing on a 160 161 40 monthly basis has grown 27 in the 150
Slide 13: Quarterly Cash Flow
FirstWave FY2017 – Finance and Operational For personal use only QUARTERLY CASH FLOW Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 FY17 Q1 FY18 Cash Flow Actual Actual Actual Actual Actual Forecast Cash outflow in FY17 was $4m CASH P&L (458,040) (1,020,704) (755,562) (978,652) (3,212,959) (663,375) Strong wor
Slide 14: Technology Update
For personal use only 15 Technology Update
Slide 15: Ecosystem
Ecosystem For personal use only CLOUD CONTENT SECURITY PARTNERS FirstWave continues to expand its cloud content security ecosystem into public cloud providers and added new global security vendor offerings including Fortinet who have a major presence in Asia. 16
Slide 16: Platform
Platform For personal use only CLOUD SECURITY GATEWAYS AND PLATFORM DEVELOPMENT • FirstWave team highly regarded and embraced by Global Security Vendors New GSVs and additional offerings (GSV’s) - Cisco, Palo Alto Networks and Fortinet (mutual software and (Fortinet relationship added in 2017) confi
Slide 17: Global Security Vendors
Global Security Vendors For personal use only • FirstWave has high visibility at the corporate level of the GSVs • There is a high and mutual level of trust between GSV engineering and FirstWave’s CTO office • Formal and mutual accreditation of GSVs and associated services • FirstWave attends and co
Slide 18: Tailored Portal
Tailored Portal For personal use only APPS FOR SECURITY STATUS, CONTROLS & REPORTING Email Basic Web Basic Live Offline Reports Trace Security Image Control Content Control Reports Web Management Mail Management Threat Insight Control and reporting panels as viewed by customer administrators or Mana
Slide 19: Resource Growth
Resource Growth For personal use only SKILLS ACQUISITION Skills Mix Technical Junior Writer Management, 1 Architecture, 2 Developer 2 Core Developers Development, 4 Automation, 2 Test Automation 11 13 Documetation, 1 12 10 Testing, 3 9 2017 team structure will split into two separate teams sharing c
Slide 20: Staying Ahead Of The Game
Staying Ahead Of The Game For personal use only • Virtualisation and SDN technology is rapidly moving along a path that further enables volume scalability • FirstWave focus is on remaining agile and trend agnostic to keep us in the steps ahead position • FirstWave is enabling vendors to take their v
Slide 21: International Update
For personal use only International Update 22
Slide 22: Cloud Security Market
Cloud Security Market For personal use only OUR ADDRESSABLE MARKET IS WORTH $8B USD GLOBALLY Our focus is the Asia Pac market which will 2016 Security Service Revenue Share by Region grow 44% over the next 5 years to $3.3B in CALA 6% 2021. FirstWave has products designed to target 89% of that opport
Slide 23: Cloud Security Market: Asia Pacific
Cloud Security Market For personal use only ASIA PACIFIC The Cloud Based Security Service market is forecast to grow 43% leading up to 2021*. The Asia Pacific Cloud Security Market is expected to expand at a rapid pace in the coming years, fueled by the rising trend of CYOD and BYOD policies**. *IHS
Slide 24: International Strategy
International Strategy TWO PHASED APPROACH For personal use only Opportunities being led by FirstWave’s FirstWave’s excellence in cloud security technology Singapore based International Sales has led our Global Security Vendors to open up Manager their Global Partner distribution network 25
Slide 25: International Expansion: Asia Pacific Engagement
International Expansion For personal use only FIRSTWAVE ASIA PACIFIC ENGAGEMENT • Technical deep dive complete • Technical deep dive complete • Engagement commenced • Project Scoping • Project scope complete • Technical deep dive complete • MoU exchanged • MoU Signed • Project scoping • Technical de
Slide 26: International Expansion: Global Security Vendor Partner Network
International Expansion GLOBAL SECURITY VENDOR PARTNER NETWORK For personal use only EMEA ASIA AMERICAS • GSV sponsored introductions • GSV supporting FirstWave activity • FirstWave driven opportunity • 7 Telco engagements in jurisdictions • 6 Telco engagements in jurisdiction • Two Telco engagement
Slide 27: International Expansion: Commercial Model
International Expansion For personal use only COMMERCIAL MODEL Product NGFW Email Filtering Web Filtering WAF Load Balancing DNS Model Characteristics: Modules • Modular approach – FirstWave CCSG Platform minimum viable Core Platform platform entry level and included ✓ BSS ✓ Orchestrator ✓ Log Proc
Slide 28: Focus
For personal use only 29 Focus
Slide 29: Company Focus FY18
Company Focus FY18 For personal use only Continue to Build Profitable International Innovate improving Annualised Monthly Australian expansion offshore customer experience Recurring Revenue Operations Operationalise Bharti Airtel Data mining of vendor agnostic (Nxtra Data) eco-system Continue develo
Slide 30: Innovate • Create • Execute
For personal use only Innovate • Create • Execute 31