Company Presentation
Spring Conference, Frankfurt
May 2022
Copyright © 2022 Exasol. All rights reserved.
Topics for today
-
- Investment Highlights
-
- Strategy and Positioning
-
- Performance Q1 2022
-
- Outlook 2022
Investment Highlights
Investment Highlights
- Exasol is a true market disrupter in the multi billion-dollar Data Analytics market
- Market-leading cost/performance ratios based on hard-to-copy technology and maximum deployment flexibility for customers
- Uniquely positioned to help our customers in gaining insight from an ever-growing amount of data, across a multitude of sources, in ever shorter timeframes
- Constantly growing, global and big-name customer base with low churn
- Recurring revenue model with high gross profit margins and scalability
Track Record
Steady organic ARR growth
Revenue by Region (2021)
Customer by Industry (2021)
Our addressable market In EUR billion, in CAGR
Source: McKinsey & Company
Strategy & Positioning
EXASOL VISION
Be the performance analytics platform trusted by the world's most ambitious organizations.
Technology to Solution
Underlying strengths Providing Solutions
Dominate the high performance enterprise analytics market
Our core product and advantages vs competition
Raw Speed/Performance Total Cost of Ownership Platform flexibility Ease-of-use in operation
USPs
Exasol maintains top performance ratings across multiple independent benchmarks and reports
customer experience in 5 consecutive years • Best in class across 20 measures
• Remains leader for vendor credibility and
- 100% customer recommendation rate
- New entrance in Magic Quadrant Report December 2021 as "Niche Player"
- Confirmation of our mission to be the analytics platform trusted by the world's most ambitious organizations
- Increased number of top-rankings from 18 to 26 categories vs peer group "Analytical DB Products" and "DWH" Technologies"
- Best-in-class in 5 categories (vs 4 previously)
- 100% customer recommendation rate
- Moved from Contender to Strong Performer in the latest Forrester Wave™: Cloud Data Warehouse, Q1 2021
Dresner positioning of Exasol against
*Converted from the original currency
12
Details on SaaS product
Exasol SaaS
Insights in minutes
- Out-of-the-box experience
- Setup database cluster in minutes
- Easily import data via integrated capabilities or external tools
- Run queries instantly via Web-based worksheets
Elastic scaling
- Scale up to increase compute power (Different cluster sizes XS – 3 XL)
- Scale out to isolate workloads with increased concurrency and separate workloads (multi-cluster)
- Only pay for what you use (OPEX over CAPEX)
Fully Managed
- Operated and administrated by Exasol
- Auto-patching, updating & backup
Ongoing deepening of partner ecosystem
Exasol has been awarded "Tech Partner of the year" by AWS
Where Exasol's strength matters
Retail / E-Commerce > 50k employees; >14bn EUR sales
- 50% cost savings
- 1000's of concurrent users without loss of performance
- Connectivity and support across multiple programming languages and systems
Healthcare/Pharma > 3k employees; >6bn EUR sales
- 70% reduced loading time
- Packet assembling reduced from 10 days lead-time to real-time
- x 4-10 times # of concurrent queries
- Reduced code deployment from 3 days to 5 hours
Healthcare/Pharma > 100k employees; >17bn EUR sales
- 10bn lines of data analyzed in under 2 min
- > 1.500 concurrent users at unmitigated performance
Experience
Impact
"Exasol's analytics database proved impressive. Primarily due to an excellent price-performance ratio: low cost combined with exceptional performance and integration in Hadoop"
Andreas Bonet – Product Owner
"In addition to the convincing price/performance ration and the outstanding performance of Exasol, we were impressed by the objective approach of the sales team . From the very beginning a very cooperative partnership was apparent."
Stefan Scheller – Manager BI & Analytics
"Exasol inspires us again and again. The system runs extremely smoothly, practically maintains itself, does not degenerate and is always performant - a real quantum leap from the previous database system."
Thomas Lober, Director CoE Business Intelligence
Performance Q1 2022
ARR development 2021/22
In EUR million, # of customers
Comments
- Overall comparable Q1 performance vs 2021, with typical seasonal pattern
- 5 new customers added in Q1, 2 customers lost
- Net upselling still dominant growth driver in Q1, in line with historical pattern
- Impact of SaaS-Introduction expected to take shape in H2 2022
ARR growth Q1 2022 – By type
In EUR million, # of customers
Comments
- Gross ARR retention rate at 125% (vs. 122% in PY)
- Net ARR retention rate at 121% (vs. 115% in PY)
- ARR churn rate at 4% (vs. 7% in PY)
- Customer churn rate at 5% (vs. 7% in PY)
* At comparable FX rates and methodology
ARR growth Q1 2022 – By geography
In EUR million, # of customers
Comments
- GTM activities steered in new regional divisions
- Central EMEA still dominant driver for growth, both in terms of upselling and new customers
- Significant new customer growth contribution by EMEA North and Emerging Markets already today
- Expansion of growth contribution from US market key focus of re-organized goto-market efforts
* At comparable FX rates and methodology
On track in delivering product roadmap
- Silent launch in Q1
- > 70 customer registrations
- 20 customers in active trials
- First pre-commit customers signed
- Broad Marketing Launch in Q2
Elastic Consumption
Pay As You Go (PAYG)
Planned Consumption
Prepaid Credits
Headcount development by quarter In # of people
Comments
- Major re-organization in Q4 2021 focused on U.S. and UK organizations
- Final re-organization measures completed in Q1 2022 with focus on Central EMEA
- Personnel baseline for growth plans in 2022/23 established
P&L 2021/22 by quarter
In EUR million, in percent
|
Q1 2021 |
Q2 2021 |
Q3 2021 |
Q4 2021 |
Q1 2022 |
Q122 vs
Q121 |
Q122 vs
Q421 |
| Revenue |
6.1 |
6.9 |
6.3 |
8.1 |
7.7 |
+25% |
-5% |
| Gross Profit |
6.4 |
6.1 |
6.4 |
7.6 |
7.2 |
+12% |
-5% |
| Personnel expenses (adj.) |
-6.6 |
-10.6 |
-9.7 |
-10.9 |
-7.6 |
+12% |
-30% |
| Training and Recruiting |
-0.5 |
-0.7 |
-0.4 |
-0.3 |
-0.1 |
-75% |
-53% |
| Marketing |
-2.1 |
-3.0 |
-3.4 |
-2.4 |
-1.7 |
-21% |
-30% |
| IT infrastructure |
-0.4 |
-0.4 |
-0.4 |
-0.3 |
-0.3 |
-19% |
-12% |
| Others (adj.) |
-1.0 |
-1.6 |
-1.3 |
-2.2 |
-1.2 |
+25% |
-43% |
| Total Costs (adj.) |
-10.7 |
-16.2 |
-15.1 |
-16.1 |
-11.0 |
+1% |
-32% |
| EBITDA (adj.) |
-4.5 |
-9.9 |
-8.7 |
-8.6 |
-3.8 |
+15% |
+56% |
| EBITDA (adj. w/o own work) |
-5.1 |
-10.4 |
-9.2 |
-9.0 |
-3.8 |
+26% |
+58% |
|
|
|
|
|
|
|
|
Change in Liquid Funds by quarter In EUR million
Liquid Funds* Changes in liquid funds excluding XO**
* incl. short term financial assets
** excl. effects from pre-IPO stock programs and costs of equity increase
Outlook 2022
Financial outlook 2022: Stable growth at significantly improved operating leverage
|
2021 |
2022 |
2023-25 |
| ARR/AAC* |
30.5 m€ |
38.5 to 40.0 m€
(at constant currency) |
•
100m EUR ARR/AAC* in
the course of 2025
without further equity
injection |
| Adj. EBITDA** |
-31.6 m€ |
-14 to -16 m€ |
•
Stable growth in
2022/23 with
acceleration in 2024/25 |
Liquid Funds
(year end) |
27.2 m€ |
10 to 12 m€ |
•
Operating cashflow
break even in the course
of 2023 |
| ** Excluding effects from pre IPO stock programs |
* Average Annual Revenue (Subscriptions) / Average Annual Consumption (Consumption based pricing) |
Incl. 2.7 m€ of XO
cash-out for pre IPO
stock programs
28 |
|
Financial calendar 2022
Capital Markets Day 2022
You are cordially invited to our first Capital Markets Day 2022
Key Data
- Date: June 1, 2022, 14 CEST
- Speakers: Aaron Auld (CEO), Donald Kaye (CCO), Mathias Golombek (CTO), Jan-Dirk Henrich (CFO)
- Duration: appr. 2,5h
- Format: virtual
Agenda
- Trusted by the world's most ambitious organizations– Update on Group Strategy Presentation Aaron Auld, CEO
- Executing Growth – Our Go-to-market approach Presentation Donald Kaye, CCO
- Why performance matters - Product Roadmap Presentation Mathias Golombek, CTO
- From the CFOs desk – mid-term targets, revenue and earnings potentials Presentation Jan-Dirk Henrich, CFO
- Q&A and wrap up
Upcoming change in Supervisory Board
ISS ESG rating updated
Key findings by ISS ESG
- Social and Employee related topics as well as Environmental Management get consistent high ratings
- Improvement potentials in governance and sustainability reporting
Actions initiated to further improve rating:
- Further improve governance (competency profile and diversity of supervisory board, transparency on management compensation)
- Increase transparency on sustainability through dedicated sustainability report
Thank You
Copyright © 2021 Exasol. All rights reserved.
Contact
Exasol AG Neumeyerstr. 22-26 90411 Nürnberg Tel.: +49 911 23991 395 Christoph Marx Head of Investor Relations Mobile: +49 160 8323176 [email protected]
Appendix – Financial Results 2021 FY
ARR development 2021
In EUR million, # of customers
Comments
- Gross ARR retention rate at 125% (vs. 122% in PY)
- Net ARR retention rate at 121% (vs. 115% in PY)
- ARR churn rate at 4% (vs. 7% in PY)
- Customer churn rate at 5% (vs. 7% in PY)
* At comparable FX rates and methodology
ARR development – By geography
In EUR million, # of customers
Comments
- DACH region continues to be the strongest growth driver for overall ARR increase, supported by strong NRR rates
- US and UK successfully increased their customer base in 2021, with several new large accounts converted, bearing upselling potential for the future
- But: new customer acquisition in US and UK in terms of total number was lower than originally planned
P&L Adjustments
In EUR million
|
2021
(rep.) |
2020
(rep.) |
Adjustments
2021 |
Adjustments
2020 |
2021
(adj.) |
2020
(adj.) |
| Revenue |
27.5 |
23.6 |
- |
- |
27.5 |
23.6 |
Gross
Profit |
26.5 |
22.3 |
- |
- |
26.5 |
22.3 |
Personnel
expenses |
-39.3 |
-37.3 |
+1.5 |
+15.6 |
-37.8 |
-21.7 |
Other income
/ expense |
-12.9 |
-15.0 |
-7.4 |
+5.7 |
-20.3 |
-9.3 |
| EBITDA |
-25.7 |
-30.0 |
-5.9 |
+21.3 |
-31.6 |
-8.7 |
| EBIT |
-28.5 |
-34.1 |
-5.9 |
+21.3 |
-34.4 |
-12.8 |
| EBT |
-28.5 |
-34.3 |
-5.9 |
+21.3 |
-34.4 |
-13.1 |
| Net income |
-29.3 |
-34.3 |
-5.9 |
+21.3 |
-35.2 |
-13.0 |
Adjusted effects
- Costs for IPO and equity increase in 2020
- IPO-related Stock Appreciation Rights (SAR) for employees
- IPO-related Stock Appreciation Rights (SAR) for board members
Results 2021 FY – Quarter-by-Quarter
In EUR million, in percent
|
Q1 2021 |
Q2 2021 |
Q3 2021 |
Q4 2021 |
FY 2021 |
FY 2020 |
Δ% |
| Revenue |
6.1 |
6.9 |
6.3 |
8.1 |
27.5 |
23.6 |
16.5 |
| Gross Profit |
6.4 |
6.1 |
6.4 |
7.7 |
26.5 |
22.3 |
19.0 |
| Personnel expenses (adj.) |
-6.8 |
-10.4 |
-9.7 |
-10.5 |
-37.8 |
-21.7 |
72.4 |
| Training and Recruiting |
-0.5 |
-0.7 |
-0.4 |
-0.3 |
-1.9 |
-1.3 |
46.8 |
| Marketing |
-2.1 |
-3.0 |
-3.4 |
-2.4 |
-10.9 |
-3.7 |
>100 |
| IT infrastructure |
-0.4 |
-0.4 |
-0.4 |
-0.3 |
-1.4 |
-1.3 |
8.5 |
| Others (adj.) |
-1.0 |
-1.6 |
-1.3 |
-2.0 |
-6.0 |
-3.0 |
93.5 |
| Total Costs (adj.) |
-10.9 |
-16.0 |
-15.1 |
-15.6 |
-58.1 |
-31.0 |
>100 |
| EBITDA (adj.) |
-4.5 |
-9.9 |
-8.7 |
-8.6 |
-31.6 |
-8.7 |
>-100 |
|
|
|
|
|
|
|
|
EBITDA to cashflow reconciliation
In EUR million