For personal use only FIRSTW TWAVE VE INVES ESTOR OR UPDA DATE 30 NOVEMBER 2017 ASX: FCT
AT FIRSTW STWAVE VE WE’RE READY For personal use only Ready Ready to take advantage of a $10bn opportunity. Ready Ready to establish our strategic presence across new global markets. Ready to establish further go-to-market sales channels. Read Ready Ready to be one of Australia’s leading technology companies. Ready Ready to challenge the world’s leading cyber security cloud technology companies. FIRSTWAVE 2 CLO UD SECURITY TECH NOLOGY
READY Y TO TAKE ADVANT NTAGE AGE OF A A $10BN N OPPORTUNI RTUNITY TY For personal use only • The existing global cloud content security market is estimated at US$9bn and is expected to grow to US$13bn by CY2021.* • FirstWave has the potential to address 75% or US$10bn of the market. • Favourable dynamics: - Security expertise scarce in large enterprises and is often non-existent in SMEs. - Growth in cyber-attacks has driven customer demand for enterprise grade security. Internationally, the largest markets are North America (40%), APAC (31%), EMEA (20%) with the balance geographically dispersed. *IHS TECHNOLOGY Cloud and CPE Managed Security Services Annual Market Report: Regional 3 April 2017. FIRSTWAVE 3 CLO UD SECURITY TECH NOLOGY
READY Y WITH H A P PROVE VEN, N, UNIQUE UE AND MARKET ET LEADI ADING NG CLOUD SECURITY RITY TECHNOLOGY NOLOGY For personal use only • FirstWave delivers a market-leading, enterprise grade cloud-based security solution. • Our technology offers advanced security protection for: CLOU OUD SECURE RE EMAIL GATEWAY CLOU OUD SECURE RE WEB GATEWAY CLOU OUD NEXT GENERATION ON CLOU OUD ADVANCED THRE REAT (SEG) (SWG) FIRE REWALL PROT OTECTION ON FirstWave is unique in the market because: • Its products and services are directly and easily integrated into existing customer platforms. • It has fostered constructive collaborative relationships with leading Global Security Vendors (GSVs). • It has attracted and retained world class talent from leading global organisations. • It can easily and rapidly replicate its platform and capabilities across new geographies. • ESP: Proprietary software intelligence at the core of FirstWave’s unique cloud content security technology. FIRSTWAVE 4 CLO UD SECURITY TECH NOLOGY
A T TEAM READY Y TO BE BECOME THE WO WO RLD’S #1 #1 For personal use only FIRSTWAVE HAS A WORLD CLASS TEAM IN PLACE ACROSS TECHNOLOGY, PRODUCT DEVELOPMENT, STRATEGY AND FINANCE WITH THE RIGHT EXPERIENCE TO REALISE FIRSTWAVE’S AMBITION OF BECOMING THE WORLD’S #1 CLOUD-BASED CYBER SECURITY COMPANY: Davi vid Kirton ton Neil Polloc ock Simon on Ryan And ndrew Chamberlai ain Sam Saba Interim Chief Executive Officer Chief Operating Officer (COO) Chief Technology Chief Revenue Recently appointed Non- (CEO) and Chief Financial and Head of International - Officer (CTO) Officer (CRO) Executive Director Officer (CFO) effective 1 Dec 2017 Trusted business partner with 20 Global business leader with 27 Globally recognised leader and Sales professional with more Augmenting relevant technology years of ICT industry experience, years of ICT, telecommunications innovator in cloud technology. than 20 years of experience in experience and breadth of global including board and senior finance and energy sector experience, the IT Industry, selling to relationships with and operational roles with global including board and senior Enterprise and Government Global Technology and responsibilities. operational roles in Asia Pacific, customers. Security Vendors. the Middle East and India. FirstWave has engaged Odgers and Berndtson to support its process to appoint a permanent CEO. FIRSTWAVE 5 CLO UD SECURITY TECH NOLOGY
CONTIN INUI UING NG MOMENTUM TUM THROUG UGH H Q1 F FY2018 For personal use only • Q1 total revenue is $2.2m, growing 55% on PCP. ANNUALISED RECURRING REVENUE * - SaaS revenue is $1.9m, growing 66% on PCP. $8,000 $7,178 $6,889 $6,814 $7,000 - Professional services revenue is $0.3m, $6,000 $5,477 $5,083 growing 7% on PCP. $5,000 $4,440 $4,415 $4,000 $3,000 • Q1 Sales $802k total contract value (TCV). $2,000 $1,000 • December 31 st forecast cash balance of $4.6m, will $- be impacted by restructuring costs in the 2 nd Q4 FY16 Q1FY17 Q2 FY 17 Q3 FY 17 Q4 FY17 Q1 FY18 Q2FY18 (Estimate) quarter (~$0.4m) • *ARR definition simplified to only include licensing and support revenue (Security as a Service – SaaS). Previously reported ARR included professional service revenue and closed sales yet to commence billing. On a comparative basis with previous reported definition, the Q1 result is $9.0m, flat quarter on quarter. • Reported ARR will be included within the scope of the external audit for FY18. FIRSTWAVE 6 CLO UD SECURITY TECH NOLOGY
CONTIN INUI UING NG MOMENTUM TUM THROUG UGH H Q1 F FY2018 For personal use only NO. OF CUSTOMER ORDERS NO. OF CUSTOMER R ORDERS (>$3,200 / MTH) NO. OF CUSTOMER R ORDERS (>$1,200 00 & & <$3,200 / MTH) NO. OF CUSTOMER R ORDERS (<$1,200) / MTH) INCREASE IN IN THE THE NUMBER OF OF CUSTOMER ORDERS, INCREASE IN IN THE THE VALUE OF OF ORDERS. FIRSTWAVE 7 CLO UD SECURITY TECH NOLOGY
A CO COMPANY ANY READY Y TO P PERF RFORM RM For personal use only • 2018 - 2022 strategic plan developed and funds SCALE raised to commence phase one ‘Enable’. EX EXPAND ND • FirstWave’s ambition is to challenge the leading cloud based cyber security companies. ENABLE • A clear set of targets and deliverables has been developed across three phases for both the domestic and international market. Fir irstWave has an aspir irat atio ion to grow w to 1.3% or US$ S$130m m of its addres essabl able e global bal mar arke ket (US$ S$10bn bn) ) by FY2022. FIRSTWAVE 8 CLO UD SECURITY TECH NOLOGY
READY Y TO ENABLE LE CAPITAL RAISE DEMONSTRATED CONFIDENCE IN TECHNOLOGY AND GROWTH STRATEGY For personal use only • FirstWave completed an oversubscribed placement, issuing 19.8 million new fully paid ordinary shares at $0.22 per share via institutional and sophisticated investors on 17 October 2017. • This raised A$4.35m which when combined with FirstWave’s $2.2m cash balance at the end of Q1 FY2018, enables FirstWave to pursue its growth ambitions, specifically: - Execute the enable phase of FirstWave’s international expansion strategy. - Appoint a new Head of International. - Deploy new platforms. - Further develop sales channels. - Increase product development resources to meet FirstWave’s international expansion ambitions. - Support continuing domestic growth with Governments, Institutions and SMEs. FIRSTWAVE 9 CLO UD SECURITY TECH NOLOGY
READY Y TO MEET CHALL LLENG ENGES ES For personal use only • Raise awareness of FirstWave as a market leading, brand in cloud content security. C Y Y B E E R • Educate business about the need for protection A T T A C K S A R R E against cyber-attacks. I N C R E A S I N G • Educate the investor community on FirstWave’s product, market and international growth trajectory. 15% 15% • Remain at the forefront of technology development in the face of an escalating cyber threat outlook and increasing frequency of cyber-attacks. Y E E A R O N Y E E A R • Establish a strong culture of cost discipline and accountability across the business. • Ensure FirstWave leverages its full competitive SOURCE: https://www.theguardian.com/australia-news/2017/oct/10/australia-warns- businesses- about-sophisticated-cyberattacks advantage through disciplined execution against Ready for the Next Wave FY18 – 22 strategy. FIRSTWAVE 10 CLO UD SECURITY TECH NOLOGY
FY2018 8 OPERATIN TING MILEST ESTONES NES For personal use only ✓ Domestic launch of the Internet Protect Email, Web, Bundle offerings – Dec 2017 with first revenue January 2018 ✓ Launch Global Email Platform – Dec 2017 ✓ In market in North America and Asia – Q3 FY2018 ✓ New Channel Partners – Q3 FY2018 ✓ First International revenue Q4 FY2018 ✓ Drive full year FY2018 FirstWave consolidated sales revenue to >$9m ✓ Exit FY2018 with FirstWave consolidated sales revenue profile >$14m FIRSTWAVE 11 CLO UD SECURITY TECH NOLOGY
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