Readytech Holdings Ltd. · ASX:RDY
Readytech — Shareholder Meeting (November 2024)
21 slides from Readytech's shareholder meeting presentation, Nov 19, 2024
Slide 1: 2024 AGM Presentation and Trading Update
MARKET RELEASE (ASX: RDY) 2024 AGM Presentation and Trading Update 19 November 2024 – ReadyTech Holdings Limited (ASX: RDY) (ReadyTech) (ABN 25 632 137 216) attaches a copy of the presentation and addresses to be made at its Annual General Meeting, which is to be held today. – ENDS – This announceme
Slide 2: 2024 Annual General Meeting
ASX:RDY 2024 Annual General Meeting Tuesday, 19 November 2024
Slide 3: Chair Address
CHAIR ADDRESS Tony Faure AGM 2024 2
Slide 4: CEO Presentation
CEO PRESENTATION Marc Washbourne AGM 2024 3
Slide 5: ReadyTech is a vertical SaaS growth company
ReadyTech is a vertical SaaS growth company Next generation, mission-critical software Education & Workforce Government & crafted to closely meet Work Pathways Solutions Justice customer needs across human-led sectors AGM 2024 4
Slide 6: ReadyTech continues to deliver robust revenue growth and solid cash margins
ReadyTech continues to deliver a combination of robust revenue growth and solid cash margins SaaS subscription revenue Total revenue Underlying EBITDA* Underlying Cash EBITDA** $95.4m $113.8m $38.8m $20.2m Increase of 13.1% Increase of 10.2% Increase of 11.5% Increase of 20.2% EBITDA margin* of 34.1
Slide 7: Enterprise strategy delivering strong and sustainable subscription revenue growth
100.0 90.0 Enterprise 80.0 strategy 70.0 delivering strong 60.0 and sustainable $m 50.0 95.4 84.3 subscription 40.0 65.6 revenue growth 30.0 43.3 20.0 10.0 0.0 FY21 FY22 FY23 FY24 Subscription Revenue AGM 2024 6
Slide 8: ReadyTech is executing a coherent and disciplined growth strategy across 4 pillars
Acquire enterprise Power of the install customers base as a growth lever ReadyTech is Across all segments, the journey to Capture value and grow NRR across the executing a enterprise is opening large new markets and major contracts. tech ecosystem of 4,000+ customers including accelerating transitio
Slide 9: Targeting large, high value enterprise customers across all segments
Acquire high value contracts with sizeable tech budgets, starting with break-through customers in key sectors Targeting large, high value Large addressable market and continuing enterprise medium term movement to cloud creates huge disruption opportunity customers across all segments Builds strong m
Slide 10: Momentum in enterprise contract wins driving increased deal value
Momentum in enterprise contract wins in the last 2 years driving increased Upgrade (TAFE) deal value Ready Skills $140,000 $120,000 Upgrade (TAFE) $100,000 $80,000 $60,000 $40,000 $20,000 $0 FY21 FY22 FY23 FY24 Average revenue per new contract AGM 2024 9
Slide 11: Early wins with AI, now positioned for strategic benefit
Early wins with AI, now positioned for strategic benefit in the medium to long term ReadyTech's dedicated AI Team is leveraging a shared AI capability to unlock AI-enabled workflows and co-pilots for our customers across every product We have a clear competitive and natural Access to unique and deep
Slide 12: Driving operating leverage through AI
ReadyTech's AI support agent is revolutionising our customer Customer support by efficiently handling help desk queries with a LLM Driving support trained on previous tickets: operating • • Improved response times for superior customer experience. Enhanced support efficiency freeing up our human sup
Slide 13: Enterprise strategy to drive future growth in revenue and improved margins
Enterprise strategy to drive future growth in revenue and improved margins FY25 outlook – updated • Revenue growth at low double digits, underpinned by growth in sales opportunity pipeline of $33m. • All segments performing in line with expectations with the exception of Local Government which is ex
Slide 14: Disclaimer
Disclaimer This presentation has been prepared by ReadyTech Holdings Limited for professional investors. The information contained in this presentation is for information purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The informa
Slide 15: For more information
For more information: Heidi Lord Automic Group t. +61 404 216 403 e. heidi.lord@automicgroup.com.au About ReadyTech ReadyTech is a leading provider of mission-critical SaaS for the education, employment services, workforce management, government and justice sectors. Bringing together the best in peo
Slide 16: 2024 AGM Chair Script
2024 AGM Chair Script Good morning, everyone and welcome to ReadyTech’s 2024 Annual General Meeting. It’s a pleasure to have you all here today. I’d like to begin by acknowledging the Traditional Owners of the land on which we meet today. I would also like to pay my respects to Elders past and prese
Slide 17: Chair script: higher education, local government and justice markets
Following our success in the TAFE market, ReadyTech is now taking steps to become a major and trusted player in higher education. This is another market with a clear and established need for cloud platforms, as well as a modernised and elevated student experience. Along with TAFEs, we believe higher
Slide 18: 2024 AGM CEO Script
2024 AGM CEO Script Slide 3 Thank you Tony, and good morning, everyone. I’m Marc Washbourne, Co-Founder and CEO of ReadyTech. It is my pleasure to report on another successful year for the Company as we continue to execute on our enterprise strategy and demonstrate our ability to win major software
Slide 19: CEO script: enterprise strategy pillars
the success of our enterprise strategy, reflecting our now proven ability to differentiate from the incumbent enterprise players and ultimately win and deliver high-value contracts. Slide 7 Our growth plans at ReadyTech are reflected across four coherent strategic pillars: 1. In terms of our dominan
Slide 20: CEO script: revenue per new customer and AI
serve as valuable references for similar opportunities across our growing sales pipeline and in the wider market. The chart on the left demonstrates the steady increase in the average revenue per new customer over the last 3 years, which now stands at $119k per annum. Slide 10 As a business, we are
Slide 21: CEO script: EBITDA margin targets and FY27 revenue target
We continue to target an underlying EBITDA margin, which excludes the impact of LTIP, of 34-35%, and a further cash EBITDA margin of improvement of 100 bps. We maintain our medium-term revenue target of $170m for FY27. We also expect cash EBITDA margin to exceed 20% in the medium term as we continue
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