Investor Presentation - Q1-FY22
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Investor Presentation
Q1-FY22
1
Safe Harbor
This document contains “forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995, including financial projections subject to risks, uncertainties and other factors that
could materially affect our actual results. Actual results may differ materially from those indicated by such forward
looking statements as a result of various important factors including, among others, competition, market demand,
technological change, strategic relationships, recent acquisitions, international operations, general economic
conditions, and including the potential effects of the coronavirus pandemic on any of the foregoing. Any forward-
looking statements or financial projections represent our views only as of today and should not be relied upon as
representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking
statements or financial projections. Further, our financial projections do not consider the impact of any pending or
future changes to accounting pronouncements under US Generally Accepted Accounting Principles. For additional
discussion of factors that could impact our operational and financial results, please refer to our Form 10-K for the
fiscal year ended June 30, 2021, and subsequently filed Form 10-Qs and Form 8-Ks or amendments thereto.
2Company Highlights
Market-leading provider of cloud-based business payments
Large market opportunity with accelerating adoption and strong market tailwinds
Significant diverse customer base with high retention and significant up-sell traction
~$414 million SaaS business with an additional ~$80 million traditional revenue
Multiple drivers of sustainable, long-term growth with upside to model
Exceptional financial profile with tremendous embedded revenue opportunity and high visibility
3
(1) Based on Q1 2022 subscription revenue of $103 million and total revenue of $124 millionWHAT WE DO
We make complex business payments
simple, smart and secure.
Pay and get paid Engage and innovate Predict and protect Connect and manage
Streamline payment processes A comprehensive suite of solutions User monitoring and A full suite of connectivity solutions
across global business for created to acquire, strengthen and behavioral analysis combine to to lower complexity, improve
efficiency, security and visibility grow profitable relationships detect fraud and reduce risk visibility and promote innovation
and growth
4Business Payment Complexity
NATIONAL BANK NATIONAL BANK
Paper draft, ACH
or wire transfer SWIFT
message
PROPRIETARY
ACH or wire transfer
NETWORK
Paper draft, ACH
PAYER PAYER’S BANK or wire transfer PAYMENT PAYMENT
RECIPIENT’S BANK RECIPIENT
Paper draft, ACH
Commercial card or wire transfer
CORRESPONDENT BANKS
CARD NETWORK
CARD ISSUER BANK MERCHANT ACQUIRER’S BANK
5Smart, Simple Business Payments
PAYER PAYMENT
RECIPIENT
6Leadership Position
MORE THAN OPERATING IN
1O,OOO 92 6O 15
CORPORATE CUSTOMERS COUNTRIES ACROSS OF THE OF THE TOP 25
6 CONTINENTS FORTUNE 100 GLOBAL BANKS
25O 1,5OO 1,4OO 89
TOP INSURANCE HEALTHCARE COMMERCIAL AND OF THE
COMPANIES ORGANIZATIONS BUSINESS BANKS FTSE 100
7Market Opportunity
$20-25B Total Addressable Market
$1-2B Treasury & Receivables
$0.5B Legal Spend Management
$2-3B Banking Platforms
$15-20B Business Payments
8The Paper Problem
The way businesses 63%
of organizations still
67%
of businesses say
75%
of organizations that
make more than half of “smarter” systems that were victims of payment
pay and get paid their payments by
paper check
drive more efficiencies are
necessary for AP’s success1
fraud experienced
check fraud2
B2B Payments Made Simple, Smart & Secure
The Largest Electronic Payment Network for Businesses Paymode-X helps businesses easily
automate accounts payable
450,000+
Members in network
PAYERS accelerate VENDORS streamline BANKS provide
payment automation, receivables with clients with innovative
$250+ Billion improve payment
security and monetize
AP spend
convenient electronic
payments and
remittance
payment capabilities,
grow market share
and expand revenue
in payments processed annually opportunities
1 The State of ePayables 2018 by Ardent Partners 9
2 2017 AFP Payment Fraud & Controls SurveyDigital Banking IQ
Helping Banks Grow Organically &
Market-leading commercial banking & Defend vs. Digital Disruption
payments platform empowers banks to BANKS GET
• Intelligent engagement platform, with integrated insights & analytics
engage intelligently with customers, deliver • Market-leading payments and cash management capabilities
• Embedded intelligence, simplicity & usability
a unified experience and acquire, deepen
BANK’S COMMERCIAL CUSTOMERS GET
and grow profitable relationships. • Proactive insights and engagement from their banking relationship managers
• Integrated, market-leading payments and cash management solutions
• Tools to help manage their finances
Aité Survey of Cash Management Vendors • Easy-to-use and customizable digital interface
• Works with SMB business and accounting software
Best in Class
Leadership Position
“The vendor to beat”
User Interface and Experience
Analytics
Best Partner 10Legal Spend Management
Leadership Position
The leading way insurance
companies manage their legal 300+ 13,500+
Clients Law Firms
spend and relationships
Streamlining and Automating Relationships with Law Firms
250+ 98%
Insurance Companies Retention Rate
LEGAL INVOICE AND SPEND MANAGEMENT
Paid as a percentage of legal bill Top-Tier Client Base
Saves up to 8% of billings
Reduces administrative expense by 30 – 50%
PARTNERSELECT
Choose the right lawyer for a right matter at the right rate
Advanced analytics – improve case outcomes
11Financial Overview
12Valuable SaaS Business
Subscription Subscription Subscription
EBITDA Margin
Growth Revenues Margins
15% 82% 61% 21%
5-Year CAGR
of total revenues. Driving scale through highly Strong profitability while
Target 15-20% growth
Highly scalable and profitable and recurring investing in growth
every year
recurring revenue model SaaS model
5-year CAGR, measured from FY16 – FY21
All other metrics based on FY21 Results
Adjusted EBITDA margin and incremental subscription margins are non-GAAP measures.
Definitions and a reconciliation to the most directly comparable GAAP measures can be found on our investor relations site.
13SaaS Platforms Driving Growth
Subscription Revenue Strong mix of growing subscription revenue
Target 15-20% growth
Subscription
15%
5-Year CAGR
82%+
445
385
339
296
262
223
195
171
141
118
85
12 13 14 15 16 17 18 19 20 21 22E
(1) Based on Fiscal 2022 guidance of $445 million in subscription revenue and $520 million of total revenue (guidance as of November 9, 2021) 14
(2) Subscription revenue figured based on FY21 resultsPredictable Top Line Growth
94% of revenues are recurring providing a
Total Revenue high level of visibility
520
93%
471
442
422
394
343 349
331
301
255
224
12 13 14 15 16 17 18 19 20 21 22E
(1) Based on Fiscal 2022 guidance of $445 million in subscription revenue and $520 million of total revenue (guidance as of November 9, 2021) 15
(2) Recurring revenue figure based on FY21 resultsGrowing SaaS Business Investment Thesis
16Growing SaaS Business
$445
$385
$339
$296
Subscription revenue $262 • Revenue mix is increasingly SaaS and
subscription based
$195 $223
$171
$141
• Some traditional revenues remain and will
$118 continue based on product set and customer
$85 profile
$55
$159 $160
Non- $134 $139 $137
$148
$126 $132 $126
• Shift away from traditional revenues masks
Subscription $103 overall strong growth in more valuable
revenue $87
$75 subscription revenue
FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22E
(1) Based on Fiscal 2022 guidance of $445 million in subscription revenue and $520 million of total revenue (guidance as of November 9, 2021) 17Growing SaaS Business
15-20%
Growth
$445
Subscription revenues $385
Targeting 15-20% Growth $339 • Current run rate of $414 million in subscription
$296
revenue
$262
$223
• Executing on plan to drive consistent 15-20%
$195
$171 subscription growth and achieve $500 million
$141 subscription revenue in 2-3 years
$118
$85
$55
• Focused product and GTM investments to
expand TAM and drive future growth
Non- $159 $160
$148
Subscription $134 $139 $137
$126 $132 $126
streams $103
$87
$75
FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22E
18
(1) Based on Fiscal 2022 guidance of $445 million in subscription revenue and $520 million of total revenue (guidance as of November 9, 2021)Company Highlights
Market-leading provider of cloud-based business payments
Large market opportunity with accelerating adoption and strong market tailwinds
Significant diverse customer base with high retention and significant up-sell traction
~$414 million SaaS business with an additional ~$80 million traditional revenue
Multiple drivers of sustainable, long-term growth with upside to model
Exceptional financial profile with tremendous embedded revenue opportunity and high visibility
19
(1) Based on Q1 2022 subscription revenue of $103 million and total revenue of $124 millionThank you
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