Co Corpo rpora rate Pre resentation
Fo Forward-Lo Looking St Statements
Growth Driven by Leading Customers in a Large Market 30% $11M Recurring revenue CAGR $9M $8M Fortune 50’s $6M $4M $3M $2M Fortune 500’s 2012 2013 2014 2015 2016 2017 2018
Wh What drives digital transformation in the field? Customer expectations Cu Pe People Te Technology Fi Fina nanci ncing ng Growing expectations that Changing demographics Advancements in and Higher margins in are governed by front-end and a demand for integrations between service organizations and technicians technical expertise field-centric technologies accessible capital In Increa easin ing dem emand for sim imple le field ield automatio ion
ProntoForms is a field-focused low code platform, recognized in the 2019 Gartner Magic Quadrant for Enterprise LCAP 5/5 ”Leader” 5
Investment in apps predicted to grow from $2.5B to $4.3B from 2018 to 2023. 90% will be business-to-employee apps.
What Is ProntoForms? App & Form Mobile Workflows Reporting Builder App & Integrations & Analytics Take charge of Enable your field Share data in Track field your operations workers real time performance Enterprise grade, trusted by IT / Low-code solution / Fast & easy to deploy
161K 2.3M 88K MOBILE USERS SUBSCRIBERS FORMS/MONTH 1,000 100 10 1 10,000 + to to 1,000 to 100 to 10 10,000
Watch customer video success stories at prontoforms.com
Powerful SaaS Financial Model High growth Strong gross Reduced losses – Multiple channels subscription margins offset by cash from for growth contracts
Strong and Predictable Recurring Revenue Growth 26% YoY recurring revenue growth 2015 2016 2017 2018 2019 +58% +31% +11% +21% +27% +6% +5% +5% +6% +6% +7% +5% +6% Recurring revenue Recurring revenue
Operating Leverage 89 89-90 90% Gross Margin on Re Recurring Re Revenue • Consistent ~50% spend on Sales & Marketing for growth with focus in enterprise customers • Moderated R&D spending to % of expand enterprise product Revenue capabilities but decrease over time • Steadily decreasing % spending G&A
Improving Growth and Profitability Profile YTD 2019 2018 Annual 2017 Annual Recurring Revenue Growth (YoY) 26% 21% 11% Gross Margin on Rec. Revenue 90% 89% 90% Non-GAAP Op Loss (% of (9%) (16%) (27%) Revenue) Operating Cashflow (% of (4%) (13%) (24%) Revenue) Deferred Revenue - Increase $572k $1,256k $517k
Growth Focus New enterprise customers Future Targeted partners 2019 focus Expansion New customer 2019 focus Machine working
Unit Economics Recurring Base Customers Expansion 2019 2,840 1.3 M 116% 2018 159 565 K 149% 20 465 K 153% 2017 2016 2015 2014 2013 2012 Before 2012 2014 2015 2016 2017 2018 2019
ARR Growth with Enterprise* Sales 30% YoY growth AR ARR 10% BA BASE 5% QoQ growth QoQ growth $1 $15. 5.0M September 30, 2018 December 31, 2018 March 31, 2019 June 30, 2019 September 30, 2019 24% 35% Enterprise Enterprise accounts accounts of base of base * Enterprise is defined as >$100k ARR
Customer Land and Expand – MRR Bookings 21K 21 Im Implementations measured by North MR MRR Bookings: America Asset Inspections EHS, HR, Asset Installations 20% 20 9. 9.1K Hong Kong Penetration & Japan 3.5K 3. expansions to date Hong Kong 6.2K 6. 7.9 K 7. North North 7. 7.5K America America Hong Kong planned & Japan 3. 3.5K expansion expansions Hong Kong
Enterprise Journey Initial Purchase Significant Add under 100K Customer adds to 100K Significant add above 100K Before 2013 2013 2014 2015 2016 2017 2018 2019 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Customer 1 400 -192 608 -352 -544 -144 -416 -4,656 -64 288 -16 512 -352 112 288 -240 320 0 0 0 475 0 0 0 Customer 2 40 0 185 106 0 607 0 0 0 120 826 -622 120 479 -1,300 408 290 614 70 0 0 Customer 3 253 788 658 -32 -871 -871 29 261 -14 578 -2,284 0 0 0 0 0 0 0 0 Customer 4 1,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Customer 5 Customer 6 Customer 7 -198 72 144 359 593 341 611 251 259 0 0 0 0 0 0 0 200 679 0 0 Customer 8 200 -80 40 -180 -154 0 -306 238 391 884 136 782 0 0 Customer 9 0 -563 -467 -144 -1,400 -1,377 Customer 10 -144 359 -90 -723 180 459 160 0 0 958 Customer 11 55 775 485 856 0 0 549 485 0 32 16 0 0 Customer 12 0 0 0 0 0 0 0 0 0 0 0 Customer 13 0 0 0 0 -6,000 0 0 0 Customer 14 0 0 0 0 0 0 0 Customer 15 613 560 438 0 0 Customer 16 0 0 0 0 0 Customer 17 0 0 580 0 0 0 Customer 18 0 Customer 19 0 0 Customer 20 0 0
ProntoForms Management Team • 30 years of leadership and telecommunications experience, primarily around Field Automation • Previously CIO and VP of Global IT for Alcatel Alvaro Pombo Founder and CEO • Patents, IT Leadership, and Operational excellence • BS Computer Engineering (Universidad de los Andes) MBA (Ottawa U) Executive degree (Georgetown U) • 25+ years of experience with public and private high technology firms Dave Croucher • Previously CFO for TSX Listed Liponex Inc. CFO • 20+ years of experience in various mobile business solutions Mansell Nelson • SVP, Products and Solutions, Enterprise Business Unit, Rogers Communications SVP BD • 15 years in the Software as a Service (SaaS) industry Michael Cho • 10 years at Salesforce.com as Regional Vice President, and at Oracle asArea Vice President for US/CAN SVP Global Sales • 15+ years of technical leadership and implementation experience in product and services development and Glenn Chenier enterprise IT systems VP R&D • Led the software services design team at Alcatel-Lucent • 25+ years of marketing experience Mark Scott • Managed marketing strategies and projects for many companies and institutions VP Marketing • Regularly contributes to Forbes on topic of smartphones and Apps Marty Gowling • 25+ year track record of building long-term customer relationships and driving adoption, success & value realization VP Customer • IBM Canada, Cognos, and Bell Canada Success
ProntoForms Board of Directors • Founded or funded over 80 companies, including Mitel and Newbridge Networks Sir Terence Matthews • Founder and Chairman of Wesley Clover, an investment vehicle and holding company Chairman • 30 years of leadership and telecommunications experience Alvaro Pombo • Previously CIO and VP of Global IT for Alcatel Member • BS Computer Engineering (Universidad de los Andes) MBA (Ottawa U) Executive degree (Georgetown U) • 20 years experience in technology company operations, leadership, and merchant banking Philip Deck • Former Director of the Bank of Canada Member • Former CEO of MKS Inc. and Certicom Corp • 25 years of telecommunications, data networking, and multi-media services experience Ed Ogonek • President and CEO of CENX, Inc. Member • Former President and CEO of Bridgewater Systems and Akara Corporation • Retired – previously Senior VP of Business Development at Openwave Systems Jon Shantz • Previously General Manager of the Mobile Business Unit of Cisco Systems Member • Jim is the former CTO of Mitel Networks Jim Davies • Undergrad and postgrad degrees in electrical and mechanical engineering from Queen's U Member • Former Corporate VP, Strategic Development at Citrix Systems Mike Cristinziano • Former Managing Director at BMO Financial Group Member • 23 years as Partner with Deloitte & Touche and Managing Partner of National Capital Region Bruce Joyce • VP of Leadership and Human Resources Research for the Conference Board of Canada Member • CPA Ontario, completed ICD.D with Directors Education Program; B. Comm from Carleton U
Investment Highlights • Leading product in growing mobile enterprise market • Predictable and growing recurring revenue • Strong expansion from Enterprise customers • Cash flow annuity build up from a high customer retention rate • Strong operating leverage – high margins reinvested in growth • Technology and go to market partnerships - Apple, Google, Microsoft, ServiceMax, Salesforce, Others • Untapped 42 million subscriber market opportunity
ProntoForms Financial Overview (in 000’s USD) 2019 2018 2017 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Revenue $3,840 $3,676 $3,517 $3,300 $3,178 $2,906 $2,749 $2,649 $2,438 $2,422 $2,339 Recurring 3,502 3,305 3,159 2,950 2,781 2,625 2,495 2,376 2,246 2,204 2,164 Professional and other services 338 371 358 350 397 281 253 272 191 218 175 Loss from operations (459) (417) (398) (467) (511) (627) (777) (953) (821) (706) (767) Less: Stock-based comp 81 82 112 137 88 45 144 188 132 137 143 Non-GAAP operating loss (378) (335) (286) (330) (423) (582) (633) (765) (689) (569) (624) Net income (loss) (421) (530) (532) (436) (642) (674) (775) (1,058) (1,038) (896) (870) Operating cash flow (558) (642) 739 (560) (4) (666) (389) (534) (521) (906) (509)
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