Investor Deck March 2017

1. March 2017
Investor Review

2. This presentation contains forward-looking statements reflecting our current expectations that involve risks and uncertainties which are
subject to safe harbors under the Securities Act of 1933, as amended, or the Securities Act, and the Securities Exchange Act of 1934, as
amended, or the Exchange Act.
These forward-looking statements may include, but are not limited to, statements concerning our plans, objectives, expectations and
intentions, future financial position, future revenues, projected costs, expectations regarding demand and acceptance for our
technologies, growth opportunities and trends in the market in which we operate, prospects and plans and objectives of management.
The words “anticipates,” “believes,” “estimates," “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” and similar expressions
are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We
may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place
undue reliance on our forward-looking statements.
These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those in
the forward-looking statements, including, without limitation, the risks set forth in Part II, Item 1A, “Risk Factors” in our Quarterly
Reports on Form 10-Q and in our other filings with the Securities and Exchange Commission. We do not assume any obligation to
update any forward-looking statements.
2
Forward-Looking Statements

3. 3
• Large market shifting towards Vocera
• Market leader with compelling ROI
• Large wins validate sales strategy
• Software acquisition extends platform
• Accelerating toward target financial model
*Earnings before interest, taxes, depreciation and amortization, and further excludes
stock -based compensation and change in fair value of warrant and option liabilities.
**Represents the high end of the company’s guidance range
Significant Value Creating Opportunity

4. (1) Joint Commission, an independent healthcare accreditation organization
(2) Agarwal et. al. Univ. of Maryland, 2010
92% of physicians use unsecured SMS text for
patient care, leading to data breeches and HIPAA
violations resulting in over $1.5M in fines per year
Efficient communication is a primary component
in driving patient engagement and satisfaction
Nurses often only spend 20% of their time
delivering direct care at the patient bedside
69% of accidental deaths and serious injuries in
hospitals are caused by communications breakdowns1
Cybercriminals
are increasingly going after targets in
the medical and healthcare verticals
$12 billion
wasted annually
In U.S. hospitals as a result of
communication inefficiencies2
4
Healthcare Communication Challenges

5. Market Forces Vocera Forces
5
Political Forces
Sales & Marketing
Product
Technology Forces
Device of Choice
CC&C
Unified Platform
ROI Selling
Cross Selling
System-level Deals
Meaningful Use Hangover
ACA Repeal
Medicare/Medicaid
Hospital Budgets
Scalability
Integration
Unified Platform
Strong Backlog/Def
Revenue
Approaching Target
model
2017 Context

6. Vocera Before Vocera Now
Communications
Badge-Centric
Point Product
Department Sale
Clinical Workflow
Software-Centric
Complete Solution
Enterprise Sale
Strategic Evolution

7. 7
10 minutes
per nurse per shift
Bed turnover
rates up 50%
OR revenues
up $780,000
350 more annual
OR capacity hours
4,000 annual ED
hours recaptured
Operational Efficiency
Response times down
from 2 minutes to
9 seconds
35% overall Sat Rating
improvement
25% improvement
in HCAHPS scores
Fall related injuries
down 60%; estimated
$1.27 mm savings
Patient Safety and Satisfaction
Compelling Return on Investment

8. Key Differentiators:
• Enterprise-class platform
(vs cobbling together vendors)
• Clinical Integration
• Device of Choice (Apple and Zebra)
• Vocera Badge resonates with nursing
• Superb References
• World-Class Support
and Professional Services
(1) Joint Commission, an independent healthcare accreditation organization
(2) Agarwal et. al. Univ. of Maryland, 2010 8
MEDCOM
Recent Platform Wins Validate Strategy

9. Quality ExperiencePatient-CenteredCost
Enhance how care is
provided to help
patients to achieve
better outcomes
Increase
Operational
Efficiencies
Improve patient
experience by allowing
caregivers to be
Patient Centered
Improve the caregiver
experience by improving
workflow and empowering
care teams
The Quadruple Aim
9
Our Mission

10. By enabling the care team to get the data, context, presence, and insights needed to…
Achieve the Quadruple Aim
Focus on the Patient Enhance workflows Make information
and help easier to find
10
How Do We Do That?

11. 11
Communicate Engage
Experience
Improve response
times, patient care,
safety and satisfaction
Over 120 clinical
integrations
Secure Text,
Voice, Image
Clinical Communication and Collaboration

12. 12
Hospital Staff Physicians Post Acute Home
Badge MC40-HC iPhone Android Tablets Desktop
Voice Secure Texting Clinical Integration
and Workflow
Patient Engagement
Vocera Software Platform
Communication and Clinical Workflows
Master Directory with Care Team Sync
Staff Assignment and On-Call Scheduling
Analytics and Reporting
Certified Security
Clinical System Integrations
Enterprise-Grade Communication Platform

13. The Vocera ApproachToday’s Situation
A Coordinated Approach
Alerts
Alarms
Messaging
Voice

14. Intelligent Clinical Workflow
Quadruple Aim
Quality
Cost
Patient-
Centered
Experience

15. 15
The Device of Choice Differentiator

16. 16
Scalable, Secure and Integrated = we consistently win >70% of competitive sales
StatusQuo
• Pagers
• Overhead Paging
• Shouting or Walking
Wireless
Devices
• Spectralink
• Cisco
• Ascom
Smartphone
Apps
• Voalte
• Tiger Text
• Texting Solutions
• Mobile Apps
 Complete end-to-end solution
 Role-based intelligence
 Device of Choice
 Ease-of-use
 Hands-free
 Clinical integration
 Enterprise class
 Trusted provider
 Purpose-built device
 World class service and support
Competitive Landscape

17. 6,986
Hospitals
in the U.S.(1)
U.S. Hospitals
1100+
(1)
Large Global Market Opportunity
(1 ) Based on Definitive US Healthcare Database
(2) Definitive Healthcare database
International
Healthcare Facilities
230+
Global Non-
Healthcare Facilities
270+
Fed Hospitals Vocera Total
VA 68 153
DoD 32 64
Total 100 217
~$6 Billion Global Market Opportunity
17
1108
5200
Vocera Hospitals US Hospitals
18% U.S. Penetration Rate
(2)
(6308 Total US Hospitals)

18. • Large System Deals
• Further penetrate existing
health system customers
• Continue pace of new
customer acquisition
Building momentum
across new products
• EHR Integration
• Collaboration Suite
• Clinical Integration
• Even Driven Alerts
• Care Experience
Extend Reach to
New Users
• Physicians
• Long Term Care
• Surgery Centers
Attractive International
Markets
• Canada
• United Kingdom
• Saudi Arabia
• UAE
• Qatar
• Australia
• Singapore
• New Zealand
Core Customer
Growth
Software
New Users
International
Expansion
18
Our Opportunity: Multiple Avenues for Growth

19. 19
• 60% revenues
are recurring
• High visibility
• Low customer
concentration
% of 2016
Revenue Revenue Streams
• Perpetual licenses
• Subscriptions
Software
*15%+ recurring
16%
• Software maintenance
• Technical support
Maintenance
*All recurring
34%
• Professional services
• Deployment & training
Services
*15%+ recurring11%
39% Devices
*50% recurring
• Badges
• Batteries, chargers, accessories
Diversified Revenue Streams

20. (1) Earnings before interest, taxes, depreciation and amortization, and further
excludes stock -based compensation and change in fair value of warrant and option liabilities.
Revenue Q4 2016 Highlights
Adjusted EBITDA
$28.4 $36.0
$104.1
$127.7
Q415 Q416 2015 2016
($inMillions)
$0.2 $1.3
-$2.8
$4.3
Q415 Q416 2015 2016
($inMillions)
Q4/2016 Results exceeded expectations
• Q4: 27% Revenue Growth, 2016: +23%
• Q4: 46% Software Growth, 2016: +36%
• 27% Backlog and Deferred Revenue Growth
Solid Customer Base and Value Proposition
• 95%+ s/w maintenance renewal rate
• Strong competitive win rate
Expanding Profitability and Cash Flow
• A-EBITDA $4.3 million in 2016
• $11.4 million operating cash flow in 2016
20
+27% +23%
Q4’16 Financial Highlights

21. 21
2017 Revenue Visibility
$4.2
Rev from Def.
Rev/BL
Supplies Visible Revenue Book-ship 2017 Revenue
$161M
65-70%

22. 22
Actual
2014 2015 2016
R&D % of Revenue 17% 15% 13%
S&M % of Revenue 47% 41% 37%
G&A % of Revenue 13% 12% 11%
~$200M
Target Model
12%
29%
8%
Sales
Notes
• All numbers are non-GAAP
• Mean peer group enterprise value comps are 3-4x Revenue and 12-15x A-EBITDA
Drivers
Operating Leverage Drives Significant Value

23. Thank you!

24. 24
Broadcast to OR Turnover
Call on-call Orthopedic Surgeon
Secure text to on-call Cardiologist
Urgent call to ED Charge Nurse
The Call Sheet Transformed

25. EHR
Evans Army Community Hospital (EACH)
92 Bed Military Treatment Facility (MTF)–
A Part of Colorado Springs Military Health System,
Colorado Springs, Colorado
Challenge: Improve staff-to-staff and staff-to-patient communication in
physically challenging locations
Patient and Staff
Satisfaction
• Due to distance of facilities, locations, and
physical layout of each department, there
is a communication barrier between staff
members as well as between staff and
patients
• For the last three years, The Joint
Commission has identified communication
as one of the top 3 root causes of sentinel
events
• 20% improvement in inpatient
satisfaction over 10 months: expected
returns of over $150,000/quarter
• 88% reduction in patient falls within 10
months. Hospital-wide implementation
yearly potential cost avoidance of over
$94,000
• Key security certifications enabled
MEDCOM to establish Vocera as
enterprise standard
Situation Approach Impact
• In June 2012, the Vocera Badge, a
wearable, voice-controlled device
enabling hands-free communication, was
implemented in the ED. By the end of
2015, it was rolled out to multiple
departments.
• The solution was integrated with alarm
and alert systems and nurse call systems:
• Patient-to-staff, and staff-to patient
• Pain button
Improve Quality of Patient Care and Safety, and
Patient and Staff Satisfaction

26. Percentage of customers
who have users in the following categories%
• Pharmacy
• Clinical Engineers/
Informatics
• Dietary/Nutrition
• Command Center
• Warehouse/
Materials
• Phlebotomists
• Admitting
• ED
• Interpreters
• Path Lab
• Case Management
• Management/Admin
• Biomed
• Pastors
• Activity Department
• Quality/Risk
Management
Others
Spring 2015 survey of Vocera customers conducted by
18%
38%
59%
61%
68%
72%
78%
81%
81%
99%
Other
Security
IT or Telecomn
Physicians
Rehabilitation
Transport Techs
Housekeeping
Respiratory Therapists
Imaging Personnel
Nursing Staff
26
Expanding User Base

27. U.S. Hospitals
and Health Systems
27
1,100 U.S. Hospitals 200 International Hospitals 250+ non-healthcare
Washington,
Cleveland, Tampa,
Phoenix, Ann Arbor
U.S.
VA and DoD
Evans Army
Hospital
Fort Carson
Irwin Army
Hospital
Fort Riley
Landstuhl Army
Medical Center
Germany
International Non-Healthcare
Large, Passionate Customer Base

28. Vocera Care
Team Sync
28
Care Team Sync informs and updates the Master Directory,
facilitating accurate care team assignments
Dr. Smith , Primary Care Physician
Dr. Evans, Cardiologist
Dr. Jenkins, Hospitalist
Stacy Jones, Nurse
Adam North, Assistant
Dr. Smith , Primary Care Physician
Dr. Evans, Cardiologist
Dr. Jenkins, Hospitalist
Stacy Jones, Nurse
Adam North, Assistant
Bi-Directional Sync with the EHR

29. 29
Nurse
Call
Fall Prevention &
Bed Alarms
Patient Flow, RTLS,
Bed Management
Interactive Patient
Engagement
Smartphones
and Tablets
Electronic Health
Records (EHR)
Physiologic Monitoring
and Medical Devices
Partner Ecosystem

30. • Intelligent software platform
• Hands-free, lightweight
• Purpose built device
• Speech recognition interface
• Multi-platform support
• DoD Unified Capabilities (UC)
Approved Products List (APL)
• FIPS 140-2, JITC, DoD ATO
• FDA 510k platform for alarm
management and secure
texting
• Over 95% renewal rates
• 1,200 hospitals; 200 other
healthcare facilities
• Over 500,000 users
• 275+ sales & services people
• Roughly 75 quota carrying
reps
• 150+ Engineers
• 34+ clinicians on staff
• Patient experience
collaborative
• 15 years of development
• 29 U.S. patents issued – 8 pending
• Multi-variable clinical rules engine
• Wi-Fi & VoIP expertise
• Proprietary noise cancellation
• Integrated with 120+ clinical
systems
• Enterprise class solution
First Mover  Unique Solution  Proprietary IP  Strong Brand
Vocera Differentiation

31. 31
Tangible benefits identified
within the first six months after deploying Vocera
12%
8%
20%
30%
38%
41%
45%
71%
73%
Other
Increased Cost Savings
Increased Patient Satisfatction
Increased Patient Throughput
Increased Patient Safety
Reduced Noise Level
Increased Care Team Satisfaction
Improved Response Times
Increased Workflow Efficiencies
Spring 2015 survey of Vocera customers conducted by
What Customers Say about Vocera

32. EHR
Clinical Systems
Location
Scheduling
Messaging
Voice
Vocera Core Platform
Engage
(Workflow)
Acquisition Enhancements
Our Enhanced Platform

33. Engage Deployment Scenarios
Critical Lab
Notification
Sends instant
notifications of a critical
lab value to the
responsible clinician.
Full Report
Notifications
Sends full Radiology,
Cardiology, Pathology,
and other reports.
Clinical Order
Notification
Instantly alerts a nurse
when a clinical order has
been placed that may
require action.
Nurse Call Alert
Combines alerts from
nurse call systems with
HIS/EHR or other clinical
data and sends
notifications to the
appropriate clinician.
One App: Alarms,
Alerts, Messaging
Single view for all patient
events and conversations

34. Engage Mobile – Design Elements
Swipe Left for Event
Response Team
Alarm Prompts Event
Responses
Swipe Right for
Alert/Alarm Details
Swipe Right for
Alert/Alarm Details

35. SOLUTION IMPACT
vCustomer Examples
v
PROBLEM
• Studies show that RNs are
interrupted about 12 times per
hour, or once every 5 minutes
• Critical alarms are often missed,
resulting in patient harm.
Engage cuts through the clutter and
sends only actionable notifications
requiring timely response, on the
caregivers mobile device of choice
• Improvements in patient safety
• Reduced needless interruptions
• Nurses can spend more time at
the bedside and stay focused on
patient needs
Veterans Administration: 55% reduction of artifact alarms (false positive alarms).
Wake Forest: “Prioritization of alarms has been attributed to 19 patient “saves”,
where we prevented a failure to rescue situation.”
*Kowalcyk, Liz. Patient alarms often unheard, unheeded. February13,2011.
http://www.boston.com/lifestyle/health/articles/2011/02/13/patient_alarms_often_unheard_ unheeded/
Engage Use Case: Interruption Fatigue

36. v
v
PROBLEM
• NICU staff receive alerts that lack
context.
• Nurse must take additional steps
to locate the relevant contextual
information, causing delays in
patient response
• Engage sends contextual event
notifications to caregiver
• Relevant data can include:
• Location
• Caller ID
• Level of urgency
• Gestation age
• Status of amniotic fluid
• Early interventions and informed,
timely decisions
• Quicker response to patient needs
and improved outcomes
• Improved neonatal resuscitation
compliance
Customer Example
University of Maryland: The neonatologist and NICU staff receive contextual alarm
notifications to their Zebra MC40-HCs mobile smartphones. The caregiver uses the
relevant data to make faster decisions that improve outcomes and compliance.
SOLUTION IMPACT
Engage Use Case: Neonatal Resuscitation

37. v
v
PROBLEM
• There are between 700,000 and
1,000,000 patient falls in hospitals
each year
• Implication: Falls pose a serious
hazard to patient safety as well
significant legal and regulatory
problems for the hospital
• Engage technology sends bed exit
alarms directly to nurse’s mobile
device instantly
• Nurse call requests can be sent at
varying levels of priority based on
a patient’s fall risk score
Reductions in patient falls and the
related injuries and costs.
40% reduction in fall rate
Customer Examples
Nursing leaders using Engage presented a case study at NICHE (Nurses Improving
Care for Healthsystem Elders) showing an ROI of $1.06M. Research found a
decrease in patient falls from 3.27 per 1,000 to 1.97 per 1,000.
SOLUTION IMPACT
Engage Use Case: Patient Falls

38. Maintenance Maintenance
Supplies
Expansions
Supplies
Maintenance
38
Supplies
Expansions
New
Customers
Sold into existing
deployments
Additional
deployments within
existing customers
Maintenance
Quarterly Bookings Patterns Lead to High Visibility

39. 39
Note: Company estimates based upon illustrative purchase of 200 enterprise user licenses, 200 badges, 400 batteries and associated
accessories, based on 2015 data. All devices and software licenses assume 100% shared usage, 3 users/device or license. Smartphone only
assumes that consumers procure their own smartphones outside Vocera. Mixed model assumes 20% MC40 smartphone and 80% badge mix.
Smartphone and Mixed models include sale of Engage software to half of available beds as labeled.
Revenue- Initial Deployment $359 $295 $414 $546
Gross Margin- Initial Deployment $212
59%
$193
65%
$242
59%
$341
63%
Software
Maintenance
Services
Devices
Revenue Streams ($ in thousands)
Initial Customer Deployment Scenarios