FY 2015 – Results Presentation June 2015
| Agenda › About IMImobile › Products and technology › Financial results › Regional updates › Summary 2
| The management team Board of Directors Vishwanath Alluri Shyam Bhat Founder & Chairman Founder & CTO Jay Patel Mike Jefferies › › Chartered Accountant and Engineer from highly prestigious Company Secretary Indian Institute of Technology, Chief Executive Officer Group Finance Director Bombay › Extensive experience in creating › technology companies Two decades of experience in engineering new product developments » 15 years with IMImobile » 6 years at IMImobile » 21 years of Technology, » Executive position at Media & Telecom WIN plc and formerly experience with BSkyB, with the Whirlpool UBS Warburg, Spark Corporation John Allwood Simon Paul Blagden MBE Ventures » Chartered Management Non-Executive Director Non-Executive Director » Chartered Accountant with Accountant › › Ex Chief Executive of Orange UK Non-Executive Co-Chairman Fujitsu Europe KPMG and MBA from › Ex MD of Telegraph Media Group › Chairman Duke of York Trust › INSEAD Non-Executive Director of Talk Talk 3
| About IMImobile What we do Who we do it for We are an IP led technology company that provides software and services to clients to help them engage with their customers on mobile devices. Live services in Background London › 2003 First products sold in India › 2007 Internationalisation began Atlanta Dubai › 2010 UK acquisition › 2014 AIM Listing Hyderabad The company HQ is in London, Bogota with 680 employees 4
| Key highlights Key financial highlights Gross Profit in £m 32.0 30.0 » Revenue up 13% to £48.9m (2014: £43.4m) 30.0 27.9 » Gross profit up 8% to £30.0m (2014: £27.9m) 28.0 » EBITDA up 27% to £9.2m (2014: £7.2m) 26.0 23.5 » Adjusted profit after tax up 48% to £5.6m (2014: £3.8m) 24.0 22.0 » Cash and cash equivalents £14.6m (2014: £9.3m) 20.0 FY13 FY14 FY15 Key operational highlights EBITDA in £m 9.2 9.5 » New major client wins in all regions 9.0 8.5 » Key new contracts signed in India 8.0 7.2 7.5 » Renewal of several major contracts 7.0 » Listed on AIM in June 2014, raising net proceeds 6.5 6.1 6.0 of approximately £7m 5.5 » Acquisition and successful integration of Textlocal 5.0 FY13 FY14 FY15 5
| Market context Technology trends Mobile (Smartphone) Mobile Network Big Data Penetration Speed (cloud computing) Optimise cross- IT focus on digitisation of Use of real-time data in screen/channel customer service delivery customer engagement experience Business challenges 6
| Agenda › About IMImobile › Products and technology › Financial results › Regional updates › Summary 7
| Technology :: DaVinci Platform Licence M.S. Licence M.S. SaaS M.S. SaaS SaaS Licence SaaS SaaS Product DaVinci Campaign DaVinci Direct Carrier Openhouse Textlocal CMS Manager Social Billing DaVinci Evolved Service Platform Reporting & Data Visualisation Governance & User Management Service Creation Environment API Gateway . Platform Policy Manager ID and Access Control Resource Manager Service Manager Settlement Engine Partner Manager Gateway Enablers Mobile Networks Payment Networks Social Networks OTT Services The DaVinci ESP forms the bedrock of our software, service and product offering. Our platform and solutions are network, device and channel agnostic. 8
| Our core product set Campaign Manager Textlocal Openhouse Enterprise-grade Campaign Management tool for Market leading self-serve text messaging and Enterprise-grade platform for creation of real-time multi-channel marketing mobile marketing platform for businesses. inbound and outbound service delivery communication. communications. Feature-rich capabilities allow SME Single platform for marketing automation across customers to quickly deploy and manage Offers rich set of assets (messaging, voice, SMS, MMS, Voice, Push, Email and USSD. messaging campaigns. location etc.) via APIs and workflow builder. DaVinci CMS DaVinci Social Direct Carrier Billing (DCB) Carrier-grade Content Management System for UGC (User Generated Content) platform for Mobile payment solution that allows merchants to collect delivering multi-channel content services. the broadcasting value chain to engage and payments from customers via their mobile phone bill. build relationships with an audience base. Reduces time to market for new content and One single API provides access to multiple mobile streaming services across mobile, tablet and web. Single platform for visibility and interaction operators, removing integration complexity for over mobile, digital and social channels. merchants. 9
| Agenda › About IMImobile › Products and technology › Financial results › Regional updates › Summary 10
| Income statement Key financial highlights Year ended 31 March (GBP 000’s) 2015 2014 % change Revenue 48,876 43,404 13% » Gross profit 30,028 27,899 8% Growth in all key metrics 9,156 7,218 27% EBITDA » Revenue of £48.9m, +13% Depreciation and amortisation (2,442) (2,106) Operating profit before SBP and 6,714 5,112 31% » Gross profit of £30.0m, +8% exceptional items Share based payments (7,294) (150) » EBITDA of £9.2m, +27% IPO related costs and other exceptional (1,720) 273 items » Financing costs 13 26 Improving operating leverage Tax (1,076) (1,342) » Operating profit before SBP and (Loss) / Profit after tax (3,363) 3,919 exceptionals of £6.7m, +31% EBITDA 9,156 7,218 27% » Adjusted profit after tax growth EBITDA % 18.7% 16.6% of 48% to £5.6m (FY14: £3.8m) Adjusted profit before tax 6,727 5,138 31% Adjusted profit before tax % 13.8% 11.8% Adjusted profit after tax 5,600 3,796 48% Adjusted profit after tax % 11.5% 8.7% 11
| Balance sheet As at 31 March (GBP 000’s) 2015 2014 Key financial highlights Non-current assets Goodwill 17,934 7,861 . Intangible assets 1,678 475 . Available-for-sale financial assets 279 424 . » Goodwill created on Property, plant and equipment 4,285 5,134 . acquisition of Textlocal Deferred tax assets 911 871 . 25,087 14,765 . » Modest capex spend Current Assets Cash and cash equivalents 14,617 9,305 . » No external debt Pass through billing revenues 3,175 4,799 . Trade and other receivables 16,570 16,568 . » Net £7m of cash raised as 34,362 30,672 . part of the IPO Current Liabilities Trade and other payables (20,104) (20,402) . » £10m paid for acquisition of (20,104) (20,402) . Textlocal Net current assets 14,258 10,270 . » Preference shares converted to equity prior to IPO Non-current liabilities Redeemable preference shares - (10,895) . Provision for defined benefit (406) (245) . gratuity (406) (11,140) . Net assets 38,939 13,895 . 12
| Cash flow Year ended 31 March (GBP 000’s) 2015 2014 Net cash flows from operating activities 8,234 8,748 Group Net Debt (£m) 16.0 Interest received 13 31 12.0 Purchases of intangibles (672) (186) Purchases of property plant and equipment (967) (1,683) 8.0 Acquisition of subsidiary as part of capital restructuring (23,464) (113) 4.0 Acquisition of subsidiary net of cash acquired (7,970) - 0.0 Other investing activities 15 (616) -4.0 Net cash used in investing activities (33,045) (2,567) Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 -8.0 Cash Debt Repayment of borrowings – Bank loans - (1,220) Issue of borrowings – Related party director loans - (301) Proceeds from issuance of Ordinary shares 30,000 572 Dividends paid to owners of the parent - (415) Key financial highlights Net cash used in financing activities 30,000 (1,364) » 5,189 4,817 Net increase in cash and cash equivalents Operating cash conversion of 90% Cash and cash equivalents at beginning of year 9,305 4,643 Effect of foreign exchange rate fluctuations 123 (155) Cash and cash equivalents at the end of the year 14,617 9,305 13
| Agenda › About IMImobile › Products and technology › Financial results › Regional updates › Summary 14
| Revenue Models CRM Managed Solutions SaaS Licence Fees IP (Platform) + Last Mile + People IP + Last Mile IP (Platform) 50% 35% 15% » Combination of software and » A provision of software or API » Software is deployed in the customer’s own network professional services connectivity environment » Customer contracts the day-to- » The commercial model is usually a » Sometimes sold in conjunction day management of the service mix of recurring licence + support + the technical delivery and fees + transactional revenues with third-party hardware platform » Ongoing operational support tends » Annual maintenance fees are » Contracts are longer term to be lower, with variable third- often included in the commercial party costs incurred offering *Approximate revenue split 15
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