More Related Content Similar to Fiscal Fourth Quarter 2013 Results (20) Fiscal Fourth Quarter 2013 Results1. Textura Corporation – Fiscal Fourth Quarter 2013 Results
Image: Hudson Yards Redevelopment, New York, NY –
a project managed using Textura Construction Collaboration Solutions
©2013 Textura Corporation
1
2. 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
November 21, 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 November 21, 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 forwardlooking statements, no inference should be drawn that we will make additional updates with respect to those or other forwardlooking statements. Further information on potential factors that could affect actual results is included under the heading “Risk
Factors” in our prospectus filed on September 20, 2013 and our other reports filed with the SEC.
This presentation should be read in conjunction with Textura’s Q4 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 Q4 2013 Earnings Release on the Company’s Investor Relations website at investors.texturacorp.com.
©2013 Textura Corporation
2
3. Introduction and Review of Key Highlights
Patrick Allin
Chairman, CEO, Co-founder
Image: Hudson Yards Redevelopment, New York, NY –
a project managed using Textura Construction Collaboration Solutions
©2013 Textura Corporation
3
5. Current Business Processes – Complex, Error Prone, Inefficient
Owner / Developer
Architects
Financing
Companies
Insurance
Companies
Title
Companies
Engineers
...
General
Contractors
Owner/
Developer
GC
Banks / Insurers
Prime Sub
Sub
Title Company
Material
Supplier
Sub
Sub-tier
Prime Sub
Sub
Architects
Prime Sub
Sub
Sub-tier
...
...
Sub
Material
Supplier
...
Material
Supplier
...
Suppliers
Sub-tier
Etc.
Engineers
Sub-contractors
Design
©2013 Textura Corporation
Prequalification
Bid
Contracting
5
Construction
Close-out
6. Textura Solutions – Addressing the Project Lifecycle
Construction Collaboration Solutions®
CPM
GradeBeam
Submittal
Exchange
PQM
Submittal
Exchange
PlanSwift
BidOrganizer
Design
©2013 Textura Corporation
Prequalification
LATISTA
Bid
Contracting
6
Construction
Close-out
7. Over $28 billion of Total Addressable Market
Market
Expansion
Target
Global
Markets
>$4.8t
Current
Markets
>$1.3t
Key Strategies:
• North America market
penetration
• Global expansion to Asia
and Western Europe
©2013 Textura Corporation
Monetization
Target
Global
Opportunity
~55-60 bps
Current
Opportunity
~34 bps
Mobile
+5–10 bps
Mobile
+4 bps
Huge Total
Addressable Market
Current
Markets
and
Solutions
>$4.4b
Global
Platform
~50 bps
Current
Solutions
~30 bps
Total
Addressable
Market
>$28.0b
+$4.0b
~$24.0b
Mobile
+$0.5b
~$3.9b
Key Strategies:
• Cross-sell solutions
• Strategic acquisitions
• Solution expansion
• Solutions to platform
• Pricing
7
Result:
•
Potential for long
term very high
revenue
growth rates
8. Multiple Long-term Growth Opportunities
CPM
GradeBeam
Submittal
Exchange
PlanSwift
LATISTA
• Project
lifecycle
from design
to operation
PQM
Data
US, Canada,
Australia
Mining
GradeBeam
BidOrganizer
• 7 primary
solutions
• Few multiproduct
clients
Financing
• Integrated
solution
suite
Submittal
Exchange
PlanSwift
• Approx. 8%
penetration
Market
penetration
• Bundled
sales/
pricing
• Platform
strategy
Cross-sell
solutions
©2013 Textura Corporation
Price
New
products
Strategic
acquisitions
8
Oil and Gas
Western
Europe,
Developed
Asia
Global
expansion
Related
markets
Future
9. Recent Highlights – Continuing to Execute our Strategy
Strong Fiscal 4Q
Results
• Accelerating revenue growth to 72%
• $23.7 billion construction value added – 158% growth
• 10,114 client organizations – 94% growth
• 6,225 total active projects – 32% growth
CPM Penetration
• Key customer wins for CPM
• GH Phipps, Grunley Construction, Graycor Construction
• Continued traction in Australia; expanded into Ireland
Transformative
Acquisition
• LATISTA propels Textura into mobile
• Leading provider of mobile-enabled construction solutions
• $35 million transaction expected to close early December
New Solutions
• BidOrganizer solution for contractors
• Efficiency solution for bid invitation process
• Launched September 9th
• Follow on equity offering
Capital Markets
• September 20th pricing – $38 per share
• Net proceeds – $59.8 million
©2013 Textura Corporation
9
10. Fiscal Fourth Quarter 2013
Financial Overview
Jillian Sheehan
EVP and CFO
Image: Denver International Airport South Terminal Redevelopment, Denver, CO
– a project managed using Textura Construction Collaboration Solutions
©2013 Textura Corporation
10
11. Fiscal Fourth Quarter 2013 Highlights
Accelerating
Revenue Growth
Expense Trends
Adjusted EBITDA
Adjusted EPS
• 72% revenue growth
• Activity-driven revenue up 50%
• Organization-driven revenue up 238%
• 84% operating expense growth
• Driven by investment to support growth, impact of
acquisitions and on-going costs of being a public company
• $5.3 mm Adj. EBITDA loss vs. $2.3mm loss in Q4 2012
• Focus on supporting growth and strategic initiatives
• $0.23 Adjusted EPS loss vs. $0.33 loss in Q4 2012
• Weighted average share count of 22.9 million
• $127.7 million cash position at September 30, 2013
Balance Sheet
©2013 Textura Corporation
• Follow-on offering provides added liquidity for investment
11
12. Consistently High Growth Rates
$35.5
$10.9
$8.5
$4.5
$5.2
$5.7 $6.3
$9.4
$21.7
$6.8
$10.5
$3.3
$6.0
Sep 11 Dec 11 Mar 12 Jun 12 Sep 12 Dec 12 Mar 13 Jun 13 Sep 13
110%
119%
CY11
CY12
CY13
Year-over-year change
Year-over-year change
77%
CY10
109%
©2013 Textura Corporation
92%
51%
65%
65%
12
72%
90%
75%
106%
64%
13. Revenue Model – Broad Base of Paying Customers
CPM
Submittal
Exchange
LATISTA
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
PlanSwift
Organization-driven
GradeBeam
PQM
•
Primarily organization annual
subscription fees
•
Fees based on:
• Construction volume,
number of
offices/subcontractors
BidOrganizer
©2013 Textura Corporation
13
• Revenue from all users
• Fees are invoiced and
collected in advance
• Highly sticky, recurring,
and visible
14. Revenue Guidance Range
Fiscal First
Quarter 2014
• 72 - 75% year-over-year growth
• $11.7 – $11.9 million
• Includes $75,000 – $100,000 LATISTA contribution
• 62 - 70% year-over-year growth
Fiscal 2014
• $57.5 – $60.5 million
• Includes $1.5 – $2.0 million LATISTA contribution
©2013 Textura Corporation
14
15. Questions . . . and Thank You
Image: World Trade Center Transportation Hub, New York, NY –
a project managed using Textura Construction Collaboration Solutions
©2013 Textura Corporation
15