Good morning, and thank you for joining the Bigtincan Holdings first half FY 2022 results investor briefing. My name is Jane Morgan, and today I am joined by Bigtincan's CEO and co-founder, David Keane, who'll be providing you with an overview of today's half year results release. To ask a question throughout the presentation, please use the Q&A function at the bottom of your screen. David, I wanna hand over to you. Oh, thank you, Jane, and welcome all to Bigtincan Holdings first half FY 2022 results call. My name is David Keane, the CEO and co-founder of Bigtincan. Joining me here today is Bigtincan's Global Financial Controller, Cyril Desouza, and Bigtincan's COO, Vivian Stewart. For the call today, we'll be using the first half FY 2022 results presentation deck that was uploaded to the ASX this morning, and also available on our website, investor.bigtincan.com. A recording of this event will be made available on the ASX and on our investor website after the conclusion of the event. Now, before we begin reviewing the events in detail, I would like to provide some remarks about our progress in the half. First half FY 2022 was transformational as Bigtincan grew to achieve a few key milestones. We passed $100 million in annualized recurring revenue, and as we will announce today, Bigtincan achieved our first adjusted EBITDA positive half in the company's history, demonstrating the benefits of growth and the opportunities that have come from both the market development and that transformational Brainshark acquisition. During these six months, Bigtincan expanded our annualized recurring revenue by $13 million post-Brainshark, with new logo wins and expansion strong, with a net retention ratio of 107%. That's up 2% from first half FY 2021. We saw that growth come in efficiently and effectively with operating metrics improving, where sales and marketing and product and development together made up 77% of revenue at the end of December. That's an improvement of 17% versus the previous half. That means that each additional dollar of revenue is costing 17% less to win and service in the first half FY 2022 versus the previous half. It's incrementally adding to Bigtincan's EBITDA position. This all adds up to, as I said before, Bigtincan's first adjusted EBITDA positive half year results. Most importantly, Bigtincan expanded the capabilities of our core products and technology with over 50 new features and capabilities announced, and with even more to be shared at our upcoming Investor Product and Technology event, which will be happening in a bit under two weeks from now, targeting March 10. We really hope to see you there. Look for more details on the ASX for an announcement there shortly. For investors, the takeaway is that as we head further into FY 2022, Bigtincan is well-positioned to continue growth and to build on our platform to create the buying experience of the future for our global customers in what is a fast-growing market, and to continue to do that effectively and efficiently with the benefits of scale. Of course, these record results were created really by the work of our amazing team. I wanna thank the entire global Bigtincan team, who have really committed themselves to our customers and to each other as we build a global leader in the space that we really know will impact the lives of tens of millions of people around the world. Having said all that, let's review the results in detail. We're gonna present the slides for you, and they should be coming up now. Yep. Let's jump into slide two, the agenda. For today, we're gonna talk a bit about some of the key achievements for first half FY 2022. We'll review Bigtincan's progress as the company built and continued to grow in the half. We'll look at that Brainshark acquisition and the update where we are today from the progression, with that deal only really being announced earlier in this half and then completing in September. We'll dive into the detailed financial results, look at the strategy and outlook for the rest of this financial year. We'll, of course, be available for investor questions at the end of the presentation. Again, for questions, please feel free to use the question feature, the chat feature in the webinar. Let's jump to, though, before we get into the key achievements, the dashboard. This results dashboard is showing. I really believe the result of the work the team has done to build on our leadership position in the market. You can see key numbers here, including our annualized recurring revenue at $112 million. Our revenue for the half at $45.9 million. That's up 142%. As we'll talk about further in today's presentation, our organic revenue growth for the period was 32%. Again, pleasing number for us as a growth-oriented company. Net retention ratio, 107, showing again, customers like our product and continue to buy more. Our lifetime value passing $700 million. Look, that really is the annuity value of Bigtincan's customer base, and it shows the ability for us to be able to continue to grow that LTV number as we build on both efficient operations with growth margin, as well as ensuring high levels of retention. Of course, cash. At the end of the half, Bigtincan had close to $50 million in cash. Pleasingly, as you will have learned from attending our previous Q2 Appendix 4C results presentation, ended with an operating cash position of plus $1.1 million in Q2. We see that strong cash position continuing into the second half of FY 2022. Of course, that EBITDA position, $1.2 million, up from the previous year. Let's go into some of the achievements of the company during the first half on the next slide. Thank you. Look, I won't talk about all of these in detail, but there are a couple of things that I think are insightful for investors. Of course, those pleasing financial results really showcase the ability for Bigtincan to grow and grow effectively, and to be able to take advantage of building the platform approach that we believe is having a pretty significant benefit for our customers. We talked a bit about those technology releases, and of course, while today's presentation is mostly on the financial results, if you attend our product and technology investor day coming up very shortly, you'll hear even more about how Bigtincan is leading and innovating with our technology set. Continue to grow our customers. Again, really pleasing results as customers continue to show, you know, why they believe that Bigtincan provides a solution that makes a difference for them as they build their businesses. Now, we continue to work with both, Fortune 500, Fortune 100, and a group of other mid-market customers who are seeing benefits from the Bigtincan technology. Of course, again, team, you know, we're really pleased to be able to to bring some of the world's leading experts in sales enablement all around the world to help our customers solve the problems that they're seeing with empowering their people to be more effective in a world that is more digital and more remote than ever before. Of course, that Brainshark acquisition, certainly transformational for our company and leading to Bigtincan being able to achieve some of the results we'll talk about today. Let's jump to the next slide, please. Talk a bit about some of the progress. I think on the next one, we can talk a bit about the platform. Look, this is the secret sauce to Bigtincan's business. The ability to be able to bring leading-edge technology in the key platform areas that our market needs, our Learning Hub, our Content Hub, and our Engagement Hub. To be able to allow customers to be able to purchase those individual products as they see fit, but then buy a complete bundle or a combination of those technologies to help them solve problems across their entire gamut of sales enablement use cases. We're connecting that together with our intelligent enablement platform that enables our customers to take advantage of data from those different hubs and be able to use that data to make recommendations and gain insights into how their business is working. Now, these hubs meet the needs of our customers today, and we see them being the strategy for us going forward into the future. But I wanted today to talk to investors a bit about something on the next slide, which is how those core hubs connect with some of the really amazing features and product capabilities that Bigtincan is launching. You'll see some of this, you know, investor product and technology today. Learning Hub, Content Hub, Engagement Hub are those core product lines that customers buy. Some of the features that customers are turning to inside those product hubs are adding to ability for Bigtincan to cross-sell and upsell and be able to gain additional revenue from those existing customers. They include features like Bigtincan XR, our augmented and virtual environment technology, virtual reality technology, that enables our customers to accomplish amazing things as they start to onboard and train people. Our analytics and reporting technology, giving customers access and insights to the way their systems are being used. Things like conversational intelligence, where Bigtincan owns one of the world's leading datasets for voice analytics and conversational intelligence that we can bring to bear to add value across all our hubs. Investors should continue to see the hubs model combined with leading features, making a difference for our customers and adding to the ability for the company to achieve strong financial results. Let's go to the next one. At the end of the day, all that fits into what we're seeing in our markets in creating a portfolio of expanding addressable market spaces. Now, this chart is a combined set of data from a series of leading market analysts looking at the market space in which we operate. It talks about the growth of the entire market from FY 2022 through FY 2026. Now, what you can see here is not only are we seeing growth in the total market space, we're also seeing growth inside each of the sectors that Bigtincan operate. That market growth in both scope and scale is presenting opportunities for Bigtincan to be able to grow our penetration rates, to be able to combine our technologies for more cross-sell and upsell, and the ability to be able to obtain additional revenues from existing customers in a way that adds to our efficiency and our ability to build a sustainable, structure in our company as we go forward. We're really pleased with the market opportunities, and we think that with our current portfolio of hubs, Bigtincan has the technology to meet the needs of our customers going forward into the future. Now, if you look at the next slide, what we're gonna talk about here is where that all results in terms of our diversified recurring revenue model. Now, we've used this, we kinda call it the donut slide, a couple of times before with investors, but I think it gives you a real view into the performance of the company in the half, and you get a bit of a view of how the Bigtincan offerings are coming together for our customers. Starting with the left-hand side donut, this is the annualized recurring revenue by vertical. You can see again Bigtincan's diversified model with no single sector being, you know, significantly larger than the other ones. Also combining together to enable us to grow across all the different sectors in which we operate. Interestingly enough, in the first half of FY 2021, we saw financial services strong, technology strong, of course, our traditional strong market of life sciences, and some surprising growth in retail, which I think is very positive as that market continues to come back. Revenue by location, North America now, of course, still the largest sector for the company. We do believe that growth in Europe and in Asia Pacific will continue, and we'll start to see that those parts of the pie grow in future periods. This half, operating revenue was 98% recurring. That is an increase from previous halves as we continue to see the maturity of our market mean that customers are more able to simply buy our subscription services and subscription products and implement them without the need to take advantage of some of the services that Bigtincan used to offer to help onboard and bring customers into the model. I think that's really pleasing and should give investors confidence of the market maturity and Bigtincan's ability to execute at scale. The far right donut here is, I think, insightful too. Now, of course, I should start by saying this right-hand side donut is post-Brainshark, and of course, Brainshark brought a considerable amount of revenue into Bigtincan's Learning Hub, but you still see strong contribution from Content Hub and Engagement Hub. You see that 17% sector there where customers are buying more than one offering. Now, we continue to see the cross-sell and upsell opportunities as customers can now take advantage of our complete product set to buy multiple hubs. That's a really important part of our strategy, and it's contributed to some of the results you're gonna see today. But it also puts us in a unique position to be able to monetize the large and growing install base that Bigtincan has built, both in this recent half and over the history of the company. Let's jump into the next one. I think, look, we talked about it before, but all of that is really created by our amazing team. The team all over the world is set up and empowered to be able to help us create what we believe is the future of sales enablement. That's teams here in North America, across Asia Pacific and across Europe. Those who've followed Bigtincan will have heard about the recent Scottish Government grant that was awarded to Bigtincan to assist us to fund the building out of a new R&D center in Scotland to add to the existing team that we already have there. Those are adding to our efficiency metrics, enabling us to benefit from scale. Now, one number I think is also insightful for investors was our ARR per employee at the end of December, 252,000. I think that's a strong result and shows the ability of the company to be able to run the business well and to demonstrate the efficiency simply of the humans that work inside our business. Let's jump to the next one and talk a bit about the way that works for customers. Look, at the end of the day, this business is all about helping customers achieve return on investment on the way they use our product. I think there's some really interesting quotes here from these two customers. I want to first talk about Matthew Johnson from the Sacramento Kings. It's an NBA basketball team. I think what Matthew is seeing, and he talks here about a 3x increase on closing deals in their pipeline with Bigtincan versus those we close without the Bigtincan tool. That is a significant ROI for the Sacramento Kings, and we're seeing that across hundreds of our customers around the world. Now, on the left-hand side, Thomas Cheriyan from OwnBackup comes to Bigtincan through the Brainshark acquisition, where they were using the Brainshark technology to help their human beings prepare and get coached to perform better in what is a highly competitive market in which they operate. When you think about these things together, the ability to be able to deliver real ROI to improve the way human beings perform, and then to connect that with the ability to be able to ensure they have the right knowledge and skills to be able to create that ROI, is really where Bigtincan's technology shines. I think these two customers are a perfect example of how the combination of these technologies makes a difference and enables Bigtincan to build on our saleable business. Now, on the next slide, talking about Brainshark, I wanted to give you a bit of an update on the Brainshark acquisition. Of course, a transformational deal for Bigtincan and something that was, you know, really enabled us to add to our Learning Hub and achieve a very strong position in the market with Learning Hub and opening up new cross-sell and upsell opportunities for our customer base. Now, first of all, a couple of financial highlights from the Brainshark acquisition. We saw strong contribution to first half FY 2022 ARR with expansion and retention ahead of trajectory in the Brainshark business. We saw cross-sell and upsell beginning across all the Bigtincan hubs. Now I would expect that to continue to grow throughout the whole of calendar 2022 as the Bigtincan platform story is adopted by our customers all around the world. In terms of costs, we talked about the synergy opportunities for the Brainshark acquisition and pleased to report we achieved a synergy of an annualized $5 million during FY 2022, first half FY 2022. That shows the ability of the Bigtincan team to execute on the planned synergies and to be able to do that while not impacting growth. I think that's really what these combinations are all about. It's how we can add value, build this technology into our core offering and make sure that we can do that cost effectively. It's also nice to be able to confirm to investors that, yes, Brainshark was net positive cash contribution for first half FY 2022. Again, showing the benefits of that acquisition as Bigtincan grows to scale. Now, of course, as well as financial highlights, there are a bunch of operational highlights. Again, here the team executed really well. During the half, we completed the people integration, connecting every single human being that came in from the Brainshark deal into Bigtincan. We unified our product offerings into the Learning Hub. We created unified systems operations. Now human beings have access to a single unified set of tools that makes sense for them to be productive and work with customers in the most optimal way. We completed the brand positioning, and we did a lot of integration across multiple work platforms that enables us to go into the second half of FY 2022 as a unified company with a single set of offerings in the market that meet the needs of our customers and enable our teams to be able to execute on that cross-sell, upsell opportunity. In the next slide, we'll just talk briefly about where that all fits together and how that has connected to our financial results. Now, take us through the financial results today. I'm gonna hand you over to Cyril Desouza. Now, Cyril, over to you. Thank you, David, and good morning, afternoon and evening to everyone. Let's start on this slide 16. As David mentioned before, Bigtincan continued its consistent trend of hitting key metrics. ARR was up 132% to $112 million. Lifetime value was up 98% to $741 million. Gross margin was in line with historical rates of 86%, and that was an increase of 1% over last year. The operating revenue grew as well, $45.9 million, up from $18.9 million in the previous corresponding period. This all contributed to the company reporting, as David mentioned, its first adjusted EBITDA positive result of $1.2 million. Turning to slide 17. In the half, the company continued to achieve a good track record of lifetime value or LTV reaching $741 million. This was evident due to the growth in ARR, the efficient gross margin, and the stable retention rates that were achieved within the half. The LTV amount was a growth of 98%, but it also represents a CAGR of 75% over the last three years. One way investors can think about this is Bigtincan customers stay on an average tenure of 7.7 years. One dollar represents approximately $7.7 over the life of a customer. This demonstrates the brand loyalty of our customers over the long period, over the long term, as well as the value of our existing customer base. Our cost to acquire or CAC metric is estimated as 60% of direct sales and marketing, as well as the acquisition costs such as the newly acquired Brainshark, Inc. This derives the LTV to CAC ratio, which was 4.7 for the half and represents an average of four over the last four years. Let's move on to slide 18. Post completion of Brainshark acquisition, Bigtincan achieved a record revenue of $45.9 million, with organic revenue being $25.1 million, representing a 32% growth. Some revenue related to historical acquisition, namely ClearSlide, with revenue of $1.2 million related from deferred revenue, and the remainder was from the Brainshark, Inc. entity of $19.6 million. Now let's talk about subscription revenue on slide 19. Subscription and support revenue grew by 151% to $45.1 million, which accounts for a total of 98% of total revenue. The strength in our recurring revenue demonstrates the stability in our long term customers as I mentioned before, but it also as highlighted in the previous slide. It's the offering of our different hubs, the content, the learning, the engagement as well as the features that were mentioned on slide seven is what drives our sticky customer base. To service our subscription and support arrangement, our direct costs have been well maintained at a gross margin of 86%. In fact, the average over the last five years has been 86%, and this is a result of pricing discipline, efficient and scalable infrastructure such as AWS, an effective product suite which requires minimum support over time. This demonstrates to investors profit, capacity of the business over time, as well as cash generation potential as we maintain these margins over time and reach maturity. Slide 20 shows the scale benefits from the Brainshark acquisition. Bigtincan's operating leverage is demonstrating efficiencies across the business. This is evident in the improvement in sales and marketing efficiency by 5% to 54% of operating revenue. Product development, which includes engineering, improving 12%. Now when you back out capitalization, it's an improvement of 7%. As you can see on this slide, overall total sales and marketing and product development as a percentage of operating revenue improved 17% over the corresponding half. When you back out capitalization, which is a sound investment for the future, it's also an improvement of 12%. On slide 21, it demonstrates strong revenue growth, effective operating efficiency together with synergies with the integration of Brainshark, has contributed to Bigtincan achieving adjusted EBITDA of $1.2 million for the half. Which is improvement of $4.8 million from the adjusted EBITDA loss of $3.6 million in 1H FY 2021. Moving on to slide 22. Cash is trending in line with the company forecast. This includes the most recent Q2 FY 2022 quarter, which had a net cash from operating activities of $1.1 million. Cash has significantly improved from a loss of $8.6 million in the corresponding half to a loss of $2.4 million, as per the Appendix 4D, which we released today. The business has sound working capital, which includes ending cash of $49.9 million at 31 December 2021. That's all from me. Back to you, David. Thank you, Cyril. Let's talk a bit about the strategy and outlook for FY 2022 and beyond. Let's jump into the next slide. When we think about the business, we talked about the hubs before, how the Learning Hub, the Content Hub and the Engagement Hub enable our customers to be able to buy multiple offerings from Bigtincan. Now, we expect to continue to be able to scale that along two vectors. The first vector is being able to add expansion and new value to existing customers in existing markets. We saw evidence of that today with the improvements in the net retention rate. As again, overall in the efficiency of the company, we expect to be able to continue to do that. We do see opportunities for accelerated growth in upsell and cross-sell, particularly with the expanding customer base that we have now post Brainshark. We also do see opportunities for new geographic and vertical market expansion areas, so we can take advantage of Bigtincan's strong technology position and be able to bring new offerings to new customers that add to that expansion growth in sectors that we operate in today. It's a combination of those two growth vectors that we see offering opportunities for us to be able to continue to expand the Bigtincan business and maintain our strong position in the market. Next one. Look, FY 2022 outlook. Outlook is consistent, we're, you know, on track to achieve our outlook of $119 million of ARR and $109 million of revenue. What I really want to talk about here is I think some of the reasons behind the confidence the company has in achieving these numbers. You know, the first one is, as you heard about today, Bigtincan continues to be a category leader with a significant U.S. customer base at the core of our business. That enables us to win new customers and grow existing customers at scale on a global basis. You've seen today how we're building an efficient growth engine that enables us to do that at scale. We start the second half of FY 2022 in a very strong financial position with the company well-placed, infrastructure in place and team in place. That multi-hub product model we spoke about offers the opportunities for cross-sell and upsell, the ability for us to win new deals that add scope and scale in how we think about our business growth. Again, the company has demonstrated repeatable, efficient growth and is in a good position to be able to continue that through the rest of FY 2022 and beyond. Look, that's really it for today's first half FY 2022 investor briefing.
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