Slide 1: FY21 Financial Results Investor Presentation
MARKET RELEASE 30 August 2021 FY21 Financial Results Investor Presentation Please see attached the Full Year 2021 Financial Results Investor Presentation. This announcement is authorised by the Board of Nuix. Investor Contact Media Contact Brett Dimon Helen McCombie Head of Investor Relations Citade
Slide 2: FY21 Financial Results
FY21 Financial Results Presenters: Rod Vawdrey, Chief Executive Officer Chad Barton, Interim Chief Financial Officer ASX: NXL | nuix.com
Slide 3: 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 (30 August 2021). It is provided in summary and does not purport to be complete. This information has been prepared by Nuix Limited
Slide 4: Chairman’s opening remarks
Chairman’s opening remarks Jeff Bleich Strengthening Leadership Business Strategic Culture and governance renewal fundamentals initiatives purpose • Establishment of • CEO succession • Sustained and grown • Investment in • Clear expectations on Independent Board underway with high loyal global custo
Slide 5: Agenda
Agenda FY21 HIGHLIGHTS FINANCIAL RESULTS OUTLOOK 4
Slide 6: About Nuix
About Nuix Nuix transforms large amounts of unstructured data into actionable intelligence at scale and speed The Patented Investigative Our People Nuix Engine An End-to-End Analytics A Fully We hire the best and Solution Integrated build their expertise A supercharged data Identify intelligence, pr
Slide 7: FY21 Key Financial Metrics
FY21 Key Financial Metrics Statutory Revenue Annualised Contract Value (ACV)1 Pro forma EBITDA3 $176.1m $165.6m $66.7m Up 0.1% on FY20 Down 1.7% on FY20 Up 20.2% on FY20 Up 7.4% on constant currency basis2 Up 4.1% on constant currency basis Up 31.3% on constant currency basis Gross Margin Customer C
Slide 8: Annualised Contract Value (ACV)
Annualised Contract Value (ACV) FY21 ACV $165.6m as at 30/06/21 ACV ($m) • Total ACV up 4.1% on constant currency basis 175 168 166 • Subscription ACV1, up 10.3% in constant 146 20 28 19 currency, representing 88% of Total ACV 24 • Partly driven by an increase in consumption 106 (including SaaS) lic
Slide 9: Growth in Consumption and SaaS
Growth in Consumption and SaaS Consumption ACV, including SaaS ($m) • Customer-led shift towards consumption licences +22% 22.1 • Consumption ACV2: 20.2 o Up 12% to $20.2m 18.0 o Up 22% in constant currency • SaaS Consumption ACV1: 10.9 o Up 9% to $10.7m o Up 20% in constant currency 10.7 11.9 2.5 9
Slide 10: Regional Update
Regional Update North Asia EMEA America Pacific 31% 52% of 17% of Statutory of Statutory Revenue Statutory Revenue Revenue North America EMEA Asia Pacific • US up in constant currency with upsell • Key new customer wins with the region • Growth in APAC driven by key logo wins below previous year, dr
Slide 11: People
People FY21 Highlights Staff Update • Established global wellbeing program • Voluntary turnover 15-18% • Introduced volunteer leave for all staff globally • 119 hires in FY21 • Released inaugural Modern Slavery Statement • Further 32 hires since 1 July • Established the Nuix Foundation Employees by
Slide 12: Financial Results
Financial Results NUIX FY21 RESULTS
Slide 13: Total Revenue
Total Revenue FY21 Statutory Revenue Total Revenue1 ($m) $176.1m 188.9 • Statutory revenue up 0.1% in functional 175.9 176.1 currency, up 7.4% in constant currency 139.6 • Subscription revenue3 93% of statutory 113.6 revenue • New business $27.6m, up 26% • Strong lift in multi-year deals to 36.3%4 •
Slide 14: Region and industry diversification
Region and industry diversification Total Revenue by Region (%) Total Revenue by Industry ($m) 189 • Australian-headquartered, global 176 176 organisation 16% 16% 17% • Still in early stages of geographic 15% 140 expansion 16% 30% 36% 114 28% • Revenue by region in line with 31% 13% 17% historical l
Slide 15: Revenue by product
Revenue by product FY21 Total Revenue by Product (%) 189 176 176 3% 4% 4% 3% 4% • Subscription revenue2 93% 7% 13% 140 13% 13% 13% • Traditional module-style licences 6% 6% 13% continue to drive the bulk of 114 12% 6% 10% statutory revenue 7% 13% • Consumption licences growing 12% 3% rapidly – more
Slide 16: Research & Development
Research & Development Total R&D ($m) and R&D as a proportion of total revenue (%) • Investment in innovation and product development 70 34% 35% • Further investment in SaaS capability • Connectors into market leading businesses and 29% 60 28% 30% productivity applications including Microsoft Teams
Slide 17: Pro forma Income Statement
Pro forma Income Statement1 FY21 Change $ millions FY21 FY20 Change2 CC3 CC3 • FY21 revenue up 0.1% on FY20, up 7.4% in Software Revenue 171.5 169.0 1.5% 184.0 8.9% constant currency. Other Revenue 4.6 6.9 -33.9% 4.9 -28.9% Total Revenue 176.1 175.9 0.1% 188.9 7.4% • Gross margin rose to 89.3% Cost
Slide 18: Pro forma Cash Flow
Pro forma Cash Flow1 • Cash flow positive after taking into account investment in Research and Development • Funding development with Free Cash Flow 2 3 4 Notes: 1. See page 35 for comments in relation to pro forma adjustments 2. Payments to Employees and Suppliers excludes IPO offer costs, listing
Slide 19: Balance Sheet
Balance Sheet $ millions, as at 30 Jun 21 30 Jun 20 ASSETS • Strong balance sheet with net cash of $70.9m Cash and cash equivalents 70.9 38.5 • Intangibles primarily comprise internally Trade and other receivable 73.2 60.2 developed software Other current assets 6.2 1.9 Property, plant and equipment
Slide 20: NPAT Statutory to Pro forma Reconciliation
NPAT Statutory to Pro forma Reconciliation1 $ millions FY21 FY20 • Reconciliation of statutory NPAT to pro forma Statutory NPAT (1.6) 23.6 NPAT presented consistent with the adjustments Incremental public company cost (3.0) (7.2) made in the IPO Prospectus2 Corporate actions 2.6 - Offer costs 33.3 -
Slide 21: Strategy and Outlook
Strategy and Outlook NUIX FY21 RESULTS
Slide 22: Reinvesting for growth
Reinvesting for growth Continuing the Building on a Delivering Renewed focus on Access to more Nuix SaaS journey strong product value-added strategic data with foundation solutions acquisitions Unified Collections platform • Capitalise on macro • eDiscovery • Governance, Risk • Accelerate SaaS and •
Slide 23: Embracing the Cloud – SaaS and Solutions
Embracing the Cloud – SaaS and Solutions Compliance solutions Data compliance and Engine as a Service Entire portfolio and challenges increasingly address key time to solutions available Demand Drivers of SaaS migration costly for customers. value and cost as SaaS pain points • GRC is a key issue fo
Slide 24: Nuix’s Growth Path
Nuix’s Growth Path INVESTMENT “LAND AND TO EXTEND VALUE WIN NEW EXPAND” THE NUIX OPERATING PARTNER ACCRETIVE CUSTOMERS STRATEGY PLATFORM EFFICIENCY CONSIDERATIONS M&A Expand across Expand across key Extend the Extract benefits of Build a network of Assess geographies and in industry verticals. funct
Slide 25: Key focus areas
Key focus areas The market opportunity for Nuix is large Nuix continues to invest for long term growth, with the Nuix engine continuing to drive an expanding range of investigative analytics use cases Key focus areas for FY22: • Strategy validation and refresh where required • Board expansion and se
Slide 26: Q&A
@ nuix Q&A NUIX FY21 RESULTS 100011010000110100101 , 100000011010010111 01010100011010 00011100110110111 — wonnamtepr coho iiss. OO10000C 187 B08 00008 oomaRy 0 01 abOkbhO 1000000 : Ef | 010101000mIM 0 00 Pid 1dD Ad i007 1 001100109 1 0100705 ‘'0110016 200:0 116
Slide 27: Appendix
@nuix Appendix NUIX FY21 RESULTS 100011910000110100101 1001 00011010010111 00011100110110111 107109'91001000000 01010100011010 moonooiag” ocho Hidt10010000¢ jononor > cbO%L6OTO00000 d101 1000119" oo! 010 syoook
Slide 28: Nuix Software Platform
Nuix Software Platform Nuix produces software to extract knowledge from unstructured data. Its applications include digital forensic investigation, financial crime, litigation support, employee and insider investigations, data protection and privacy, data governance, eDiscovery and regulatory compli
Slide 29: Industry Overview
Industry Overview Nuix is a leading player in the US$4 billion eDiscovery and Digital forensics software markets and an emerging player in the US$23 billion GRC and Endpoint security software markets. Together these markets make up the investigative analytics and intelligence software market. EXISTI
Slide 30: Customers
Customers Diversified customer base Upfront multi-year deals (% of Total Revenue) 36.3% Customer Concentration FY21 Customer Tenure FY21 25.4% 17.1% 15.6% 28% FY18 FY19 FY20 FY21 34% 37% 38% New Customers and Average New Order Value ($k) 240 162 145 140 34% 29% 103 100 124 75 Top 20 customers < 5 Ye
Slide 31: Licence type implications on revenue recognition
Licence type implications on revenue recognition 1 year licence 3 year MYD licence Impact Impact Delivery model Licence type in month 1 in month 1 Subscription licence1 3.6 • $1.2m on-premise module licence – 1 year or 1.2 1.2 1.2 • $3.6m on-premise module licence – 3 years consumption1 (typically t
Slide 32: Nuix’s Revenue Mix
Nuix’s Revenue Mix Other Revenue Revenue Type Software Revenue (97% FY21 Total Revenue) (3% FY21 • Subscription Revenue includes Module, Consumption and Support and Maintenance Total Revenue) Subscription (S&M) (93% FY21 Total Revenue) Perpetual Software Hardware / Software Revenue comprises all Sub
Slide 33: Pro forma Cash Flow
Pro forma Cash Flow1 Statutory Pro forma adjustments Pro forma $ millions FY21 P&L Cash flow FY21 • Continued investment into the future of the EBITDA 30.2 36.5 - 66.7 business Add back non-cash items 4.6 (3.6) - 1.0 EBITDA excluding non-cash items 34.8 32.9 - 67.8 Change in working capital (23.8) -
Slide 34: Expense Analysis
Expense Analysis1 Cost of Goods Sold (“COGS”) + Sales and Distribution (“S&D”) + Research and Development (“R&D”) + General and Administrative (“G&A”) • Predominantly relates to payments to • Personnel and related marketing costs • Predominantly relates to employment • Continued investment into buil
Slide 35: 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 36: Constant Currency and Pro forma Adjustments
Constant Currency and Pro forma Adjustments Constant Currency has been calculated using the below methodology: 1. Constant currency rates are calculated by dividing the total FY20 consolidated AUD revenue associated with a currency by the total FY20 transaction currency revenue of the same currency,