Wrkr Ltd · ASX:WRK
Wrkr — Investor Presentation (August 2024)
43 slides from Wrkr's investor presentation, Aug 19, 2024
Slide 1: Capital Raising Presentation
For personal use only Compliance. Simple. Capital Raising Presentation Date: 19/08/2024 Wrkr Ltd Authorised by: Trent Lund ACN 611 202 414 Chief Executive Officer Level 3, Suite 1, 104 Commonwealth St trent.lund@wrkr.com.au Surry Hills NSW 2010
Slide 2: Disclaimer and important notice
Disclaimer and important notice For personal use only Overview This investor presentation (“Presentation”) has been prepared by Wrkr Limited (ACN 611 202 414 ) (“WRKR” or the “Company”) and is dated 18 August 2024. By attending an investor presentation or briefing, or accepting, accessing or reviewin
Slide 3: Disclaimer and important notice: international restrictions
Disclaimer and important notice For personal use only International restrictions The distribution of this Presentation in jurisdictions outside Australia, New Zealand, Singapore and Hong Kong may be restricted by law and you should observe any such restrictions. Any failure to comply with such restr
Slide 4: Disclaimer and important notice: past and future performance
Disclaimer and important notice For personal use only Past Performance Past performance, including past share price performance of WRKR and pro forma financial information given in this Presentation, is given for illustrative purposes only and should not be relied upon as (and is not) an indication o
Slide 5: Disclaimer and important notice: lead manager
Disclaimer and important notice For personal use only Disclaimer Morgans Corporate Limited (ABN 32 010 539 607) (Lead Manager) is acting as lead manager and bookrunner to the Placement. The Lead Manager, its affiliates and related bodies corporate, are full service financial institutions engaged in va
Slide 6: Capital Raising Summary, About Wrkr, Financial Overview, Appendices
For personal use only 01 Capital Raising Summary 02 About Wrkr 03 Financial Overview 04 Appendices
Slide 7: Capital raising summary
For personal use only Capital raising summary • The Company is undertaking a capital raising of approximately A$7.1 million by way of an institutional placement (“Placement”) of new fully paid ordinary shares in the Company (“New Shares”) and a Share Purchase Plan (“SPP”), together the (“Offer”). •
Slide 8: Capital Raising Summary: Use of Funds
Capital Raising Summary For personal use only Use of Funds • Additional resources for the Company to accelerate MUFG Retirement Solutions (formerly Link Group) contract delivery and third party consulting group opportunities; • Strengthen the Company’s balance sheet; • Funding to support working cap
Slide 9: Impact on WRKR capital structure
Capital Raising Summary For personal use only Impact on WRKR capital structure Indicative Post Capital Raising and Convertible Note Conversion No. of Shares % Current ordinary shares on issue 1,271,589,025 75.37 New Shares issued (Placement) 264,000,000 15.65 New Shares issued (SPP)* 19,531,250 1.16
Slide 10: Timetable
Timetable For personal use only Key Events Key Dates Trading Halt 15 August 2024 SPP record date 7.00pm on 16 August 2024 Announcement of the completion of the Placement, and announcement of the SPP, and 19 August 2024 conversion of the Convertible Notes. Trading resumes Settlement of New Shares iss
Slide 11: Capital Raise Summary, About Wrkr, Financial Overview, Appendices
For personal use only 01 Capital Raise Summary 02 About Wrkr 03 Financial Overview 04 Appendices
Slide 12: Revolutionising workforce compliance
Revolutionising For personal use only workforce compliance Wrkr is a regulatory technology business helping Australian employers to simplify workforce compliance from hire to retire. Wrkr digitally solves the compliance moments from onboarding (ID, Credentials, Bank Account, Tax Details, Super Fund
Slide 13: Wrkr solves all of the compliance employee moments in a branded mobile experience
Wrkr solves all of the For personal use only compliance employee moments in a branded mobile experience From paper, errors, time, data risks to…digital, mobile, data completion with real-time attestation meeting modern security standards (ISO27001, SOC 2 Type 1) Employer branded Mobile friendly Data
Slide 14: Our technology provides a 'one stop shop' for compliance management
Our technology provides a ‘one For personal use only stop shop’ for compliance management Example application home screen Our integrated applications, being served from a single platform, simplifies the experience for Employers. One application to manage compliance moments between employers and their
Slide 15: Our single platform is API first, enabling broad integration
Our single platform is For personal use only API first, enabling broad integration Wrkr architecture (simplified) Wrkr is a modern cloud platform that enables us to rapidly respond to evolving employee onboarding and pay compliance needs today and into the future. Modern cloud based Flexible delivery
Slide 16: Our API approach to compliance for HRM software closes a much needed gap
Our API approach to compliance For personal use only for HRM software closes a much needed gap Wrkr KPMG & Workday example screens Wrkr has seen early interest from customers following an exciting launch with KPMG and Workday. Our API approach will accelerate the collaboration with SI’s and Internat
Slide 17: Our MUFG Retirement Solutions build for Industry Funds
Our MUFG Retirement Solutions For personal use only (formerly Link Group), build for “Industry Funds” balances shared benefits and competitive differentiation by: A Fund branded example of the Wrkr application MUFG Retirement Solutions contract management and aggregated pricing Full integration to As
Slide 18: Wrkr connects to a number of regulatory services so our customers don't have to
Wrkr connects to a For personal use only number of regulatory services so our customers don’t have to Employee onboarding and pay touches a complex set of industry groups, regulators and governing Our regulatory and compliance footprint allows bodies: us to participate across a broad spectrum of Aus
Slide 19: We take security seriously
We take security For personal use only seriously User control data Active Fraud driven consent Prevention Users control their own data and give time Fraud Reduction Intelligence Platform, CIAM based consent for visibility (not download). Platform and Passwordless Authentication We provide attestatio
Slide 20: Wrkr has a clear strategy to maximise employee reach
Wrkr has a clear strategy to For personal use only maximise employee reach Create new value Grow the value Grow the base Create new value directly with Wrkrs Deliver on more compliance moments Leverage customer data and the volume Reach many of unique customers to create new products: Wrkrs Focus pr
Slide 21: Wrkr believes it has further market opportunity in Australia
Wrkr believes it has further market Australian Market for Wrkr For personal use only opportunity in Australia compliance moments Building from a base of: >200 >14m1 Payroll Service providers ● Processing compliance moments for over 500k ● Australians Platform footprint in 3 of the top 5 largest (Aus
Slide 22: Wrkr & industry trends
Wrkr & industry trends For personal use only Strong contracted base Regulatory tail winds >8,000 registered employers, processing Proposed PayDay Super reforms are set to compliance moments for >500k Australians; ART double ‘Super’ transactions and open a Super; MUFG Retirement Solutions; Rest Super
Slide 23: Capital Raise Summary, About Wrkr, Financial Overview, Appendices
For personal use only 01 Capital Raise Summary 02 About Wrkr 03 Financial Overview 04 Appendices
Slide 24: Historical financial results by financial year
Historical financial results by financial year $9-$10m ↑>40% For personal use only $6.57m ↑43% $4.60M ↑120% $2.31M ↑42% $1.73m $1.43m ↓17% Wrkr Ltd, formerly Integrated Payment Technologies Ltd, Operating Revenue merged with Comply FY19 to FY24 Path Pty Ltd in November 2020. FY19 FY20 FY21 FY22 FY23 S
Slide 25: FY24 Financial Highlights
FY24 Financial Highlights FY24 compared to FY23 For personal use only Operating Cash Receipts Cost to Cash Flows from Customers Income Ratio +$340k $9.51m 0.95 190% -$376k 46% $6.52m 36% 1.29 ● Positive net operating cash flows achieved for the first time since Wrkr was listed in 2016 demonstrating:
Slide 26: Financial outlook
Financial outlook For personal use only ● Projected FY24 net operating revenues of mid-range between $9m - $10m based on unaudited figures ● Continue to balance our investment between short term revenue generation and long term growth ● Continuation of development projects with ART, execution of MUFG
Slide 27: Capital Raise Summary, About Wrkr, Financial Overview, Appendices
For personal use only 01 Capital Raise Summary 02 About Wrkr 03 Financial Overview 04 Appendices
Slide 28: Appendix A: Key risks
For personal use only Appendix A: Key risks
Slide 29: Key risks: overview
Key risks For personal use only Overview of key risks This section summarises some of the key risks that may affect the future performance of an investment in Wrkr. This is not an exhaustive list of all risks that Wrkr and its investors may be exposed to in the future. If any of the following risks
Slide 30: Key risks: Wrkr business risks
Key risks For personal use only Wrkr business risks • The operations and future success of Wrkr depends upon the efforts and abilities of its key executives. The loss of any of these people’s services could adversely affect Wrkr’s performance and its ability to execute its growth strategy. Reliance
Slide 31: Key risks: Wrkr business risks
Key risks For personal use only Wrkr business risks • Wrkr operates in highly regulated markets and its success can be impacted by changes to the regulatory environment and the structure of these markets. Wrkr must comply with significant and wide ranging laws and regulations. Changes to laws and reg
Slide 32: Key risks: Wrkr business risks
Key risks Wrkr business risks For personal use only • The provision of Wrkr’s services is a technically complex business requiring the deployment of sophisticated systems and technology. Wrkr depends on the capability and reliability of its information technology systems, and those of its key servic
Slide 33: Key risks: Wrkr business risks
Key risks For personal use only Wrkr business risks • An entity must be approved by the ATO as a ‘Gateway’ in order to be eligible to send or receive SuperStream messages via the SuperStream Transaction Network. WRKR, through its subsidiary, ClickSuper, is an accredited Gateway provider. There is a
Slide 34: Key risks: Wrkr business risks
Key risks For personal use only Wrkr business risks • The financial information in Wrkr’s financial statements is presented in Australian dollars, while some of Wrkr’s expenses are incurred in United States dollars. Foreign exchange risk • Accordingly, Wrkr is subject to adverse exchange rate movement
Slide 35: Key risks: Capital Raising specific risks
Key risks For personal use only Capital Raising specific risks Investors who do not participate in the Placement or the SPP, will have their percentage security holding in Wrkr diluted. Investors may also have Dilution their investment diluted by future capital raisings by Wrkr. The proposed use of f
Slide 36: Key risks: General risks
Key risks For personal use only General risks • There are general risks associated with investments in equity capital and shares in companies operating in the industries in which Wrkr operates. Events may occur within or outside Australia, including in the jurisdictions where Wrkr operates or plans
Slide 37: Appendix B: Offer jurisdictions
For personal use only Appendix B: Offer jurisdictions
Slide 38: Foreign Selling Restrictions: New Zealand
Foreign Selling Restrictions For personal use only New Zealand This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (the "FMC Act"). The New Shares are not being offered to the public within New Zealand othe
Slide 39: Foreign Selling Restrictions: Hong Kong
Foreign Selling Restrictions For personal use only Hong Kong WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, nor has it been authorised by the Securities and Futures Commi
Slide 40: Foreign Selling Restrictions: Singapore
Foreign Selling Restrictions For personal use only Singapore This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this document and any other document
Slide 41: Thank you & Questions
For personal use only Thank you & Questions wrkr.com.au
Slide 42: Management Team
Management Team For personal use only Trent Lund Karen Gilmour Joe Brasacchio Jean-Paul Seow Greg Tonner CEO and Managing CFO CTO (Comply Path Head of Commercial Head of Growth Director Founder) and Alliances Trent has over 25 years Karen has over 15 years Joe has over 20 years of Jean-Paul has over
Slide 43: Board
Board For personal use only Emma Dobson Paul Collins Randolf Clinton Jillian McGregor Non-Executive Chair Non-Executive Director Non-Executive Director Company Secretary