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Webcast Slides

Needham Interconnect Conference
August 4, 2015
© 2015 Actua Corporation / All Rights Reserved / 1
Forward-Looking Statements
The statements contained in this presentation that are not historical facts are forward-looking statements that
involve certain risks and uncertainties, including, but not limited to, risks associated with the effect of economic
conditions generally, capital spending by our customers, our ability to retain existing customer relationships and
secure new ones, our ability to compete successfully against alternative solutions, our ability to timely and
effectively respond to technological developments, our ability to retain key personnel, our ability to have continued
access to capital and to deploy capital effectively and on acceptable terms, our ability to maximize value in
connection with divestitures, and other risks and uncertainties detailed in Actua’s filings with the Securities and
Exchange Commission. Those and other factors may cause actual results to differ materially from those projected.
Non-GAAP Financial Measures
Non-GAAP net income (loss) and non-GAAP net income (loss) per diluted share are non-GAAP financial measures and have no
standardized measurement prescribed by GAAP. When referring to non-GAAP financial measures, the term “adjusted” is used
interchangeably with the term “non-GAAP” by Actua’s management and the two have identical definitions. Non-GAAP net income (loss) is
GAAP net income (loss) attributable to Actua, including acquired businesses’ deferred revenue and excluding share-based compensation,
amortization of intangibles, impairment-related and other costs, transaction expenses, other (income) loss, net, equity loss current noncash income tax benefit on discrete item and loss (income) from discontinued operations. Non-GAAP net income (loss) per diluted share is
non-GAAP net income (loss) divided by (1) GAAP shares, including the any impact of incremental dilutive securities (in the case of income)
or (2) GAAP shares, excluding any impact of incremental dilutive securities (in the case of loss). Actua's consolidated businesses are
BOLT, FolioDynamix, GovDelivery and MSDSonline as of March 31, 2015. Please note the following:
•
FolioDynamix became a consolidated business on November 3, 2014 and, therefore, will be included in Actua’s consolidated results
beginning on November 1, 2014. The results of FolioDynamix for the first two days of November 2014 were insignificant for
consolidation purposes.
•
Channel Intelligence, Investor Force and Procurian were sold in Q1, Q1 and Q4 2013, respectively, and are presented as
discontinued operations under GAAP. Receipt of respective escrow releases occurred throughout 2014 and is presented within our
non-GAAP measures as “Loss (income) from discontinued operations.”
Actua's management believes these non-GAAP financial measures provide useful information to investors and potential investors that
enables them to view Actua’s business in a similar manner as Actua's management and provide meaningful supplemental information
regarding Actua’s operating results as they exclude amounts that Actua excludes as part of its monitoring of operating results and
assessment of the performance of its business.
Overview
BRINGING THE POWER OF THE CLOUD
TO INDUSTRY-SPECIFIC VERTICAL MARKETS
Overview
• Multi-vertical cloud software platform
• Operate cloud software solutions in four sectors:
– Government Communications
– Environmental Health and Safety
– Wealth Management
– Property and Casualty Insurance
• Total addressable market = multi-billion dollar opportunity
• Leader in each market, and each market is at early stage of cloud
adoption
• Investing for growth with emphasis on sales and marketing, product
development and tuck-in acquisitions
• Management team has been at the forefront of building technology
companies through every phase of technology over the last 30 years, with
a focus on SaaS since 1996
Evolution of Cloud Computing Space
1ST WAVE
Emergence of SaaS
2ND WAVE
Vertical SaaS
• Data and functionality moved to the
cloud
• Deep industry solutions with
significant leverage
• Business comfortable with the model
• More capital efficient
• Faster ramp, lower TCO, pay for
what you use
• Attractive competitive moats
• Rapid product evolution
• Sticky customer relationships
• Dozens of examples of horizontal
cloud companies: Salesforce, Concur,
NetSuite, etc.
• Automating areas outside the
enterprise
• Few new market entrants
Actua Platform Advantage: the Intersection of Vertical IP and SaaS IP
Being part of the Actua Platform provides:
SaaS IP
Vertical IP
• Public company advantage –
strong balance sheet provides
solid foundation and stability
• Accelerated market share and
adoption
• Almost 1,000 experts in industryspecific vertical SaaS
• A core team with deep expertise
in building technology companies
by fueling growth, operating
leverage
• Faster innovation cycles
• Ability to attract, grow and retain
talent
Actua Market Characteristics
Attractive Market
Size & Growth
Opportunities
> $ Billion + market,
growing >20%
Early Cloud
Adoption
Proven customers, yet < 10%
total market penetration
Pursuing markets
we can transform
Highly fragmented,
unautomated, slow to
innovate
Attractive
Competitive
Dynamics
Clear competitive moat via
big data and network effect
Actua’s Verticals
Government
Communications
Market
Environmental,
Health and
Safety Market
> $20
BILLION
Total Addressable
Market
Insurance Market
Wealth Management
Market
Revenue Growth
2015 Guidance
Range:
$133.0M - $138.0M
Figures shown in millions
$140.0
$110.0
$84.8
$80.0
$59.2
$50.0
$20.0
2013 Actual
2014 Actual
2015 Guidance
Cash Flow From Operations
$0.0
Figures shown in millions
($5.0)
2015 Guidance Range:
Revised:$(5.0)M - $(9.0)M
Original:$(6.0)M - $(10.0)M
($10.0)
($15.0)
$(14.2)
$(18.0)
($20.0)
2013 Actual
2014 Actual
2015 Guidance
Financial Profile
2013
2014
Q1 2015
Gross Margins %
71%
72%
69%
Sales and Marketing %
46%
45%
37%
General and Administrative %
41%
32%
27%
Research and Development %
15%
17%
23%
Recurring Revenue %
87%
87%
87%
Retention Rates %
95%
97%
97%
%s determined excluding stock-based compensation and deferred revenue adjustments from purchase accounting
Investment Highlights
• Large market opportunity
• Clear market leader in each vertical market
• Strong recurring revenue base
• Demonstrated record of outstanding revenue growth
• Proven track record of successfully entering and scaling cloud-ready
markets
Appendix
The Power of the Bolt Platform to Transform Insurance
Back-end
Front-end
Broaden
Broaden
Distribution
Customer Relationships
Leverage new distribution channels with the
Bolt Platform to reach more customers
Always say ‘yes’ to customers and meet all
their needs with the Bolt Platform
Maximize
Revenue and
CLV
Flood
Homeowners
Homeowners
Missed
Rev.
Pet
Auto
Auto
Renters

Increase
Customer
Retention
360 Degree
View of
customer
Products represented
as share of wallet
• Broader distribution brings Insurers new customers they otherwise wouldn’t see.
• Broader customer relationships drive up customer/agent satisfaction, retention and
customer lifetime value.
Actua’s Verticals
Provides a multi-channel, multi-carrier software
platform that enables insurance distributors to retain
and grow revenue through a comprehensive insurance
solution
Important metrics:*
• Annual Revenue Growth: Flat growth in Q1 2015 compared to Q1
2014
• New Signings: Expanded relationships with three biggest customers
and launched a partnership with Google Compare
• Total Customers: Insurance carriers (63, of which 5 are carrier
distribution partners), independent agents (2,100), alternative
distribution partners (4), and state exchange (1)
• Pipeline: Opportunities grew from six to nine large, mid-to-late stage
deals, while all prior opportunities remain in pipeline
• TAM: Multi-billion dollar
• More than $1 billion of premium running through the platform, up from
$850 million at the end of 2014
• Competitive Moat: Platform is integrated into 63 of the largest
insurance carriers and has over 3,000 carrier connections which creates
the largest source of insurance flow for direct carriers, agents, agencies
and alternative insurance distributors
• Operating cash flow negative for the year
• Multi-year/multi-million dollar contracts
* As of 3/31/15 unless otherwise noted
FolioDynamix: Maximizing Revenue for Wealth Managers
Advisors using the FolioDynamix
platform can maximize revenue,
efficiencies, productivity, and agility
Advisors are wasting 60% of their time
on non-revenue generating tasks.
FOCUS ON
REVENUE
GENERATING
ACTIVITIES
• Prospecting
• Client relationship
building
• Driving referrals
• Cross selling
The FolioDynamix
Platform enables:
•
•
•
•
•
•
Investment research
Proposal generation
Trade execution
Tax optimization
Portfolio rebalancing
Professional sales
materials
• Performance reporting
• Client reporting
OUTSOURCE
NON-REVENUE
GENERATING
ACTIVITIES
Source: http://www.fundspeople.com/system/media/5047/original/Encuesta.pdf?1382692734
Actua’s Verticals
Enables the delivery of client-centric, innovative, scalable,
wealth management solutions through secure, cloud-based,
fully integrated, advisory products and solutions
Important Metrics:*
• Annual Revenue Growth: 27% in Q1 2015 compared to Q1 2014
• New Signings: Signed eight new multi-year deals since the beginning
of 2015, five of which are large banks; seven are medium-sized (sixfigure deals); and one is a large deal (seven-figure)
• Total Customers: More than 200 banks, brokerage firms and large
RIAs
• Pipeline: 25% pipeline growth since the beginning of 2015
• TAM: Multi-billion dollar
• Competitive Moat: Comprehensive, client-centric technology platform
with integrated proprietary advisory products
• Operating cash flow positive for the year
• Multi-year/multi-million dollar contracts
• $688 billion in assets under administration as of 12/31/2014
• More than 97,000 advisors and users
• $4.1 billion in regulatory assets under management
*As of 3/31/15 unless otherwise noted
GovDelivery: Reach, Engage and Convert
The New Way
The Old Way
80 Million Citizen Network
Print Ads
REACH
TV
Commercials
Word-ofMouth
Email /
List Serves
Radio
Commercials
• Networks
• Overlays
• Sign Ups
ENGAGE
CONVERT
• Messaging • Insight
• Mobile
• Automation
• Social
• Segmentation
• Targeted Messages
• Drive Action
Creating safer communities,
happier commuters, healthier
families and better government.
Actua’s Verticals
**
Digital communications and marketing platform that enables
public sector organizations to effectively reach citizens and
drive action
Important metrics:*
•
•
•
•
•
•
•
•
Annual Revenue Growth: 25% in Q1 2015 compared to Q1 2014
New Signings: Closed 29 deals in Q1 2015, reporting strongest
Q1 ever in the state and local markets and closed several deals
with federal agencies subsequent to quarter end
Total Customers: Serving 1,000+ federal, state, local and UK
government agencies reaching 80 million citizen subscribers
Pipeline: 20% pipeline growth since the beginning of 2015,
including 16 federal program opportunities
TAM: > $1 billion
Competitive Moat: Subscriber base creates network effect,
significantly expanding reach and audience for each customer
Operating cash flow positive for the year
Annual subscription revenue model
MSDSonline: Automating the Desktop of the Safety Manager
External
SDS/Chemical Mgmt.
Significant
Consequences:
Pressures:
Incident Mgmt.
& Reporting
Audit & Inspections
Complexity &
Reporting
Corporate Responsibility
Regulatory Pressure
Training
Compliance Mgmt.
& Education
Mgmt. of Change
Costly Fines
(5-figure/day)
Law Suits and Litigation
Corporate Reputation
Risk Analysis
Green House Gas
Sustainability Metrics
& Reporting
Actua’s Verticals
Environmental, Health and Safety compliance platform
that enables organizations to meet stringent and costly
OSHA requirements
Important Metrics:*
•
•
•
•
•
•
•
•
Annual Revenue Growth: 41% in Q1 2015 compared to Q1 2014
New Signings: Added 562 new customers in Q1 2015, including two
cross-sell wins with two large manufacturers made possible by the
combined MSDSonline/KMI platforms. These new signings primarily
consisted of new platform customers (those that have access to the
full platform of products) with higher ASPs.
Total Customers: Over 10,000 companies; protecting more than 8
million employees in U.S. and Canada
Pipeline: Growth is slightly ahead of revenue growth and is skewed
towards large platform customers (customers with access to the full
platform of products)
TAM: > $3 billion
Competitive Moat: Database of over 8 million material safety data
sheets is the only comprehensive web-based library that ensures
100% compliance for companies and continues to expand as new
customers come onto the platform
Operating cash flow positive for the year
3-year subscription revenue model
Needham Interconnect Conference
August 4, 2015

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