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Ser um desenvolvedor de imagens geométricas é um dom da dedicação.!.
1 ©2013 Textura Corporation
Image: Hudson Yards Redevelopment, New York, NY – a project managed using Textura Construction Collaboration Solutions
Patrick Allin Chairman, CEO, Co-founder
2 ©2013 Textura Corporation
Safe Harbor
This presentation includes forward-looking statements, including statements regarding Textura's future financial performance, market growth, demand for Textura's solutions, and general business conditions. Any forward looking statements contained in this presentation are based upon Textura's historical performance and its current expectations and projections about future events and financial trends affecting the financial condition of its business. These forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. These forward-looking statements are based on information currently available to Textura, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to, trends in the global and domestic economy and the commercial construction industry; our ability to effectively manage our growth; our ability to develop the market for our solutions; competition with our business; our dependence on a limited number of client relationships for a significant portion of our revenues; our dependence on a single software solution for a substantial portion of our revenues; the length of the selling cycle to secure new enterprise relationships for our CPM solution, which requires significant investment of resources; our ability to cross-sell our solutions; the continued growth of the market for on-demand software solutions; our ability to develop and bring to market new solutions in a timely manner; our success in expanding our international business and entering new industries; and the availability of suitable acquisitions or partners and our ability to achieve expected benefits from such acquisitions or partnerships, including our acquisition of PlanSwift in January 2013 and our acquisition of Latista in December 2013. Forward-looking statements speak only as of the date hereof and we assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Further information on potential factors that could affect actual results is included under the heading “Risk Factors” in our Annual Report on Form 10-K filed on November 26, 2013, and our other reports filed with the SEC.
In addition to U.S. GAAP financial information, this presentation includes certain non-GAAP financial measures. These historical and forward-looking non-GAAP measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP measures is included at the end of this presentation and is also included in Textura’s Q4 2013 Earnings Release on the Company’s Investor Relations website at investors.texturacorp.com.
3 ©2013 Textura Corporation
Investment Highlights
Global market opportunity
Compelling client value proposition
CPM – no competition
High EBITDA margin potential
Exceptional revenue growth
Experienced
team
4 ©2013 Textura Corporation
Current Business Processes – Complex, Error Prone, Inefficient
Banks / Insurers
Title Company
Owner / Developer
Sub-contractors Engineers
Architects
General Contractors
Suppliers
Architects Financing
Companies Insurance
Companies
Owner/ Developer
GC
Prime Sub Prime Sub
Sub
Material Supplier
Sub Sub Sub
Sub-tier Sub-tier
Sub-tier
Etc.
. . . Material Supplier
Material Supplier
. . .
Sub . . .
Prime Sub . . .
Title Companies
Engineers . . .
Design Pre-
qualification Bid Contracting Construction Close-out
5 ©2013 Textura Corporation
Textura Solutions – Addressing the Project Lifecycle
Design Pre-
qualification Bid Contracting Construction Close-out
CPM
PlanSwift Submittal Exchange
GradeBeam
PQM Submittal Exchange
Construction Collaboration Solutions®
Latista BidOrganizer
6 ©2013 Textura Corporation
Risk management
Cost efficiencies
Process management
Significant Benefits to our Clients
Faster payment
7 ©2013 Textura Corporation
Client Case Study #1 – Strong ROI
• Denver-based General Contractor Internal Study Findings:
• “Textura CPM saves 260-330 hours a month”
• “Time savings for our risk administrator and the project managers”
• “Improves accuracy of paperwork”
• “Greatly improves subcontractor relations”
• “Creating capacity is essential to avoid having to hire additional staff”
General Contractor ROI:
• Estimated savings: $360,000 annually
• Estimated by the general contractor to cost them 4 basis points of construction value: $74,000 annually
Estimated Total Network Revenue to Textura:
• ~$300,000 annually
• 75% of subs already CPM users • Textura CPM eliminates
15 out of 20 process steps
8 ©2013 Textura Corporation
Client Case Study #2 – Broad Relationships, Very Sticky
• General Contractor o $2 million annual
network revenue
• Textura is integrated with their mission-critical business processes
• Enterprise-wide implementation - all projects
• Adding 10 to 15 new projects a month – no Textura sales activity
• Switching back to manual processes would be . . . difficult – stickier than a subscription
4,055 monthly invoice cycles
32,044 electronic payments
$3.43 billion
disbursed
655 active users
4 years on
CPM
475 projects
on-system
8,862 sub-
contracts
ERP system
integration
9 ©2013 Textura Corporation
Sustainable Competitive Advantages Protect CPM
Patent portfolio
Installed user base
Complex functionality
Integration to client systems
Neutral 3rd party SaaS offering
• 41 patents for CPM and 50 pending
• 300 GCs and Owners • 80,000 subcontractor organizations
• Configurable by project • 250,000 major ways
• 300+ interfaces to client ERP systems
• No significant competitor exists as a SaaS neutral collaboration platform
10 ©2013 Textura Corporation
Over $28 billion of Total Addressable Market
Market Expansion
Monetization Huge Total
Addressable Market
Target Global
Markets >$4.8t
Current Markets >$1.3t
Current Solutions ~30 bps
Total Addressable
Market >$28.0b
Current Markets
and Solutions
>$4.4b
Global Platform ~50 bps
Key Strategies: • North America market
penetration • Global expansion to Asia
and Western Europe
Key Strategies: • Cross-sell solutions • Strategic acquisitions • Solution expansion • Solutions to platform • Pricing
Result:
• Potential for long term very high revenue growth rates
Target Global
Opportunity ~55-60 bps Current
Opportunity ~34 bps
Mobile +5–10 bps
Mobile +4 bps
~$3.9b
Mobile +$0.5b
~$24.0b
+$4.0b
11 ©2013 Textura Corporation
Multiple Long-term Growth Opportunities
Market penetration
Cross-sell solutions
Global expansion
Related markets
Strategic acquisitions
New products
Future
US, Canada, Australia
Western Europe,
Developed Asia
Mining
Oil and Gas
Data
Financing
Price
• Approx. 8% penetration
• 7 primary solutions
• Few multi-product clients
• Bundled sales/ pricing
• Platform strategy
• Project lifecycle from design to operation
• Integrated solution suite
Submittal Exchange
GradeBeam
PlanSwift
CPM
PlanSwift Submittal Exchange
GradeBeam
PQM
BidOrganizer
Latista
12 ©2013 Textura Corporation
Financial Overview
Image: Denver International Airport South Terminal Redevelopment, Denver, CO
– a project managed using Textura Construction Collaboration Solutions
Jillian Sheehan EVP and CFO
13 ©2013 Textura Corporation
Financial Highlights
Strong growth
Predictable highly visible
growth
High operating leverage
Investing for growth
14 ©2013 Textura Corporation
Consistently High Growth Rates
$6.0
$10.5
$21.7
$35.5
FY10 FY11 FY12 FY13
90% 75% 106% 64%
Year-over-year change
$3.3
$4.5 $5.2
$5.7 $6.3 $6.8
$8.5 $9.4
$10.9
Sep 11 Dec 11 Mar 12 Jun 12 Sep 12 Dec 12 Mar 13 Jun 13 Sep 13
77% 110% 119% 109% 92% 51% 65% 65% 72%
Year-over-year change
Organic growth Organic growth
77% 76% 74% 70% 60% 45% 46% 38% 45% 90% 75% 69% 44%
15 ©2013 Textura Corporation
Revenue Model – Broad Base of Paying Customers
• Revenue from all users
• Fees are invoiced and collected in advance
• Highly sticky, recurring, and visible
CPM
PlanSwift
Submittal Exchange
GradeBeam
PQM
Activity-driven
• Owners/GCs • Subscription fees based on
project portfolio – total number of projects/construction value
• Subcontractors • Project usage fee – varies by
value of contract
Organization-driven
• Primarily organization annual subscription fees
• Fees based on: • Construction volume,
number of offices/subcontractors
BidOrganizer
Latista
16 ©2013 Textura Corporation
CPM Revenue Model – Providing Value to All Participants
Sub Tier
($2 million)
Owner/ General Contractor ($25 million project)
Prime Subcontractor
($7 million)
Prime Subcontractor
($6 million)
Prime Subcontractor
($2 million)
Prime Subcontractor
($5 million)
Sub Tier
($1.5 million)
Sub Tier
($1 million)
Sub Tier
($1 million)
Sub Tier
($2 million)
Sub Tier
($1 million)
Sub Tier
($.5 million)
Sub Tier
($.5 million)
Project Fee Plus Monthly Subscription Fee
(Based on Project Size)
Usage Fees
(15 basis points of
Full Contract
Value)
Flat $50 Fee
17 ©2013 Textura Corporation
Implementing Clients Drive Predictable Multi-period Growth
0
100
200
300
400
500
Active projects
0
50
100
150
200
250
300
Steady revenue ramp
Business growth
Case Study Client #1 Case Study Client #2
Steady revenue ramp
Business growth
In Implementation Fully
Implemented In Implementation
Fully Implemented
18 ©2013 Textura Corporation
Continued Success Implementing Clients
Dec 12 Mar 13 Jun 13 Sep 13
Mill
ion
s
New Projects Added
1,048 1,245
1,467 1,511
Dec 12 Mar 13 Jun 13 Sep 13
Mill
ion
s
Construction Value Added
$13.6
$10.6 $7.3
$23.7
Dec 12 Mar 13 Jun 13 Sep 13
Number of Organizations
10,114 8,210
6,997 5,412
19 ©2013 Textura Corporation
Long-term Operating Model Yields Highly Attractive Margins
FY2012 FY2013 3 -4 Year
Target
Revenue Mix Activity-driven Organization-driven
88% 12%
79% 21%
70% 30%
Non- GAAP Gross Margin 73% 78% 87% - 90%
Non-GAAP operating expenses as % of revenue General and Administrative Sales and marketing Technology and development Total Non-GAAP operating expenses
40% 26% 49%
115%
48% 28% 40%
116%
12% - 15% 17% - 20% 15% - 17% 45% - 52%
Adjusted EBITDA (43)% (38)% 35% - 45%
20 ©2013 Textura Corporation
Image: World Trade Center Transportation Hub, New York, NY – a project managed using Textura Construction Collaboration Solutions
Questions . . . and Thank You
21 ©2013 Textura Corporation
GAAP to Non-GAAP Reconciliation
Fiscal Year Ended September 30, 2012 Fiscal Year Ended September 30, 2013
GAAP Pro-Forma
Adjustments
Pro-Forma Operating Expenses % GAAP
Pro-Forma Adjustments
Pro-Forma Operating Expenses %
(in thousands)
Revenues 21,681 0 21,681 100.00% 35,534 0 35,534 100.00%
Operating expenses
Cost of services 6,152 (203) 5,949 27.44% 11,754 (3,793) 7,961 22.40%
General and administrative 11,105 (2,329) 8,776 40.48% 23,479 (6,328) 17,151 48.27%
Sales and marketing 5,995 (298) 5,697 26.28% 12,707 (2,779) 9,928 27.94%
Technology and development 11,123 (587) 10,536 48.60% 18,148 (4,004) 14,144 39.80%
Depreciation and amortization 4,080 (4,080) 0 4,525 (4,525) 0
Total operating expenses 38,455 (7,497) 30,958 142.79% 70,613 (21,429) 49,184 138.41%
Loss from Operations (16,774) 7,497 (9,277) -42.79% (35,079) 21,429 (13,650) -38.41%