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1 ©2013 Textura Corporation
Textura Corporation – Fiscal Third Quarter 2013 Results
Image: Hudson Yards Redevelopment, New York, NY – a project managed using Textura Construction Collaboration Solutions
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 available to Textura as of August 7, 2013, 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. Forward-looking statements speak only as of August 7, 2013 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 prospectus filed on June 7, 2013 and our other reports filed with the SEC.
This presentation should be read in conjunction with Textura’s Q3 2013 Earnings Release on the Company’s Investor Relations website at investors.texturacorp.com.
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 in Textura’s Q3 2013 Earnings Release on the Company’s Investor Relations website at investors.texturacorp.com.
3 ©2013 Textura Corporation
Introduction and Review of Key Highlights
Image: Hudson Yards Redevelopment, New York, NY – a project managed using Textura Construction Collaboration Solutions
Patrick Allin Chairman, CEO, Co-founder
4 ©2013 Textura Corporation
Investment Highlights
Global market opportunity
Compelling client value proposition
CPM – no competition
High EBITDA margin potential
Exceptional revenue growth
Experienced
team
5 ©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
6 ©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®
7 ©2013 Textura Corporation
Over $20 billion of Total Addressable Market
Market Expansion
Monetization Huge Total
Addressable Market
Target Global
Markets >$4.0t
Current Markets >$1.2t
Current Solutions ~30 bps
Total Addressable
Market >$20.0b
Current Markets
and Solutions
>$3.6b
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
8 ©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
• 5 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
9 ©2013 Textura Corporation
Recent Highlights
• NYSE listed “TXTR”
• June 6th pricing – $15 per share
• Net proceeds – $77.7 million
• CPM for mid-market general contractors & owners
• Tailored solution for underserved market
• Launched July 25
• Key customer wins
• Fortune-Johnson
• City and County of Denver
• Bartlett Cocke General Contractors
• MAPP Construction
• 65% revenue growth
• $13.6 billion construction value added – 60% growth
• 5,700 total active projects – 38% growth
• 1,400 projects added on system – 20% growth
Initial Public Offering
CPM - Business
Strong Fiscal 3Q Results
Customer Wins
10 ©2013 Textura Corporation
Fiscal Third Quarter 2013
Financial Overview
Image: Denver International Airport South Terminal Redevelopment, Denver, CO
– a project managed using Textura Construction Collaboration Solutions
Jillian Sheehan EVP and CFO
11 ©2013 Textura Corporation
Consistently High Growth Rates
$6.9
$12.9
$24.0
CY10 CY11 CY12
83% 87% 86%
Year-over-year change
$3.3
$4.5 $5.2
$5.7 $6.3
$6.8
$8.5
$9.4
Sep 11 Dec 11 Mar 12 Jun 12 Sep 12 Dec 12 Mar 13 Jun 13
79% 77% 110% 119% 109% 92% 51% 65%
Year-over-year change
12 ©2013 Textura Corporation
Fiscal Third Quarter 2013 Highlights
• 65% revenue growth
• Activity-driven revenue up 40.6%
• Organization-driven revenue up 234.8%
• 54% adj. operating expense growth (excl. IPO costs)
• 85% + growth in sales & marketing and G&A
• $3.8 mm Adjusted EBITDA loss vs. $2.4mm loss in Q2 2013
• Focus on supporting growth & strategic initiatives
• $0.75 Adjusted EPS loss vs. $0.38 loss in Q2 2013
• Weighted average share count of 12.6 million
• $69 million cash position at June 30, 2013
• Added liquidity for investment
Strong Revenue Growth
Expense Trends
Adjusted EPS
Adjusted EBITDA
Balance Sheet
13 ©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
14 ©2013 Textura Corporation
Revenue Guidance Range
• 63-64% year-over-year growth
• $35.3 - $35.5 million
• 68-71% year-over-year growth
• $10.6 - $10.8 million
• 56-64% year-over-year growth
• $55.0 - $58.0 million
Fiscal 2013
Fiscal Fourth Quarter 2013
Fiscal 2014
15 ©2013 Textura Corporation
Image: World Trade Center Transportation Hub, New York, NY – a project managed using Textura Construction Collaboration Solutions
Questions . . . and Thank You