E2open Results Presentation Deck

Made public by

sourced by PitchSend

1 of 20

Creator

e2open logo
E2open

Category

Technology

Published

May 2023

Slides

Transcriptions

#1Fiscal Fourth Quarter & Fiscal Year 2023 Supplemental Slides STIA e2open Moving as one. 1801#2Disclaimer Forward Looking Statements This presentation contains forward-looking statements including, but not limited to, statements regarding our short-term and long-term financial targets, expectations and objectives; business outlook, opportunities and strategies; customer demand and market expansion; strategies related to our products and technology; industry growth rates; software trends; and other statements related to our expectations for the future. These statements involve risks, uncertainties and other factors that could cause our actual results, time frames or achievements to differ materially from those expressed or implied in our forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks from the recessionary business environment, inflation, operations and financial condition; risks and compliance obligations relating to the global nature of our operations; macroeconomic conditions and uncertainty in the global economy; fluctuation of our operating results; the ability to integrate acquisitions, including BluJay Solutions and Logistyx; and more. Additional information on potential risks, uncertainties and other factors that could affect our results is included in filings we make with the Securities and Exchange Commission from time to time, including in the section entitled "Risk Factors" in our Annual Report on Form 10-K and in our Quarterly Reports on Form 10-Q. We undertake no duty, and do not intend, to update any forward-looking statement, whether as a result of new information, future events or otherwise, unless required by law. Non-GAAP Financial Measures This presentation includes certain financial measures not presented in accordance with generally accepted accounting principles ("GAAP") including, but not limited to, Pro Forma Adjusted EBITDA and certain ratios and other metrics derived therefrom. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing our financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that our presentation of these measures may not be comparable to similarly-titled measures used by other companies. We believe these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. We believe that the use of these non-GAAP financial measures provide an additional tool for investors to use in evaluating ongoing operating results and trends in and in comparing our financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Please refer to footnotes were presented on each page of this presentation. This presentation also includes certain projections of non-GAAP financial measures. Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, we are unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included, and no reconciliation of the forward-looking non-GAAP financial measures is included. e2open® 2#3Fiscal Year 2023 Results $652M FY 2023 Total Revenue 82% Subscription Revenue % of Total Revenue e2open $533M FY 2023 Subscription Revenue 10% FY 2023 Subscription Revenue Growth (1) (1) Constant Currency basis: Prior year FX rates applied to current year actuals to normalize for FX impact 3#4Fiscal Year 2023 Results $217M FY 2023 Adjusted EBITDA e2open 69% FY 2023 Total Gross Margin 33% FY 2023 Adjusted EBITDA Margin 77% FY 2023 Subscription Gross Margin 4#5Client ENGAGEMENT FY2024 e2open Strategic Roadmap Strategic Drivers: Value - Growth - Efficiency Build the most connected supply chain SaaS platform combining networks, data, and applications to deliver enduring customer value. FY2024 Strategic Pillars Grow through stronger client relationships { e2open Client EXPERIENCE Make client experience a competitive differentiator 8 9 Product EXCELLENCE Be recognized for market and product leadership Operational EFFICIENCY Hire and retain the best talent, provide the best training, expect high performance Business KPIs tied to key initiatives for each pillar Simplify our work LO 5#6Strong Cash Flow Position. $68M FY 2023 GAAP Cash Flow From Ops $93M FY 2023 Cash and Cash Equivalents e2open $105M FY 2023 Adjusted Cash Flow from Ops (1) 48% Adjusted Cash Flow from Ops % of EBITDA (1) Refer to Appendix for Reconciliation of FY 2023 GAAP Cash Flow from Ops to FY 2023 Adjusted Free Cash Flow from Ops 6#7Fiscal 2024 Full Year Guidance e2open $ in millions Subscription Revenue Total Revenue Gross Profit Margin Adjusted EBITDA Adjusted EBITDA Margin FY24 $545-$555 $655-$670 68 - 70% $218 - $228 33% -34% 7#8Attractive Long-Term Financial Profile. e2open Long-Term Organic Growth Model Non-GAAP Revenue Growth Non-GAAP Gross Profit Margin Adjusted EBITDA Growth Adjusted EBITDA Margin CAPEX as a % of Revenue Additional Potential Upside From Acquisitions 12% + 70% + Teens % Mid-30%'s+ ~5%#9Appendix STIA 1801 e2open Moving as one.#10Fourth Quarter Fiscal 2023 Year-over-Year Non-GAAP Pro Forma Revenue (¹) $130 Q4 FY22 Subscription Revenue e2open ($1) F/X Impact $9 Organic Growth $137 Q4 FY23 Q4FY23 Subscription Revenue organic Y/Y growth of 5% and CC (2) Y/Y growth of 7% $161 Q4 FY22 Total Revenue (1) Non-GAAP Pro forma revenue includes the pre-acquisition revenue in Q4 from Logistyx (2) Constant Currency (CC): Prior year FX rates applied to current year actuals to normalize for FX impact Note: Figures are in USD millions. Please refer to appendix for non-GAAP reconciliation ($2) F/X Impact $7 Organic Growth $166 Q4 FY23 Q4FY23 Total Revenue organic Y/Y growth of 3% and CC (2) Y/Y growth of 4% 10#11Fiscal 2023 Year-over-Year Non-GAAP Pro Forma Revenue $493 FY22 Subscription Revenue e2open ($9) F/X Impact $49 $533 Organic Growth $616 ($11) Iri FY23 Full Year Subscription organic Y/Y growth of 8% and CC (2) Y/Y growth of 10% FY22 (1) Total Revenue (1) Non-GAAP pro forma revenue includes the pre-acquisition revenue from BluJay and Logistyx (2) Constant Currency (CC): Prior year FX rates applied to current year actuals to normalize for FX impact Note: Figures are in USD millions. Please refer to appendix for non-GAAP reconciliation F/X Impact $47 Organic Growth $652 FY23 Full Year Total Revenue organic Y/Y growth of 6% and CC (2) Y/Y growth of 8% 11#12Fourth Quarter Fiscal 2023 Year-over-Year Non-GAAP Pro Forma Gross Margin e2open $113 69.9% Margin ($1) Q4 FY22 ($0.5) F/X Impact (2) $5 Notes: Figures are in USD millions. Please refer to appendix for non-GAAP reconciliation (3) Strategic SI Spend Q4FY23 Gross Margin organic Y/Y growth of 3% and CC (4) Y/Y growth of 4% Net Organic Margin Growth (1) Non-GAAP pro forma includes the pre-acquisition gross margin from Logistyx (2) Strategic SI Spend includes training staff and developing go to market capabilities within the system integrator ecosystem (3) Organic growth impact includes lower commission, bonus and other expense reduction in FY23 (4) Constant Currency (CC): Prior year FX rates applied to current year actuals to normalize for FX impact $117 70.2% Margin Q4 FY23 12#13Fiscal 2023 Year-over-Year Non-GAAP Pro Forma Gross Margin $448 e2open $428 69.6% Margin ($5) FY22 ($6) (2) Notes: Figures are in USD millions. Please refer to appendix for non-GAAP reconciliation $30 F/X Impact Strategic SI Spend Net Organic Margin Growth FY23 Gross Margin organic Y/Y growth of 5% and CC (4) Y/Y growth of 6% (1) Non-GAAP pro forma includes the pre-acquisition gross margin from BluJay and Logistyx (2) Strategic SI Spend includes training staff and developing go to market capabilities within the system integrator ecosystem (3) Organic growth impact includes lower commission, bonus and other expense reduction in FY23 (4) Constant Currency (CC): Prior year FX rates applied to current year actuals to normalize for FX impact (3) 68.7% Margin FY23 (1) 13#14Fourth Quarter Fiscal 2023 Year-over-Year Non-GAAP Pro Forma (1) Adjusted EBITDA e2open $54 33.5% Margin $1 Q4 FY22 ($5) Investment Spend (2) Note: Figures are in USD millions. Please refer to appendix for non-GAAP reconciliation $11 (3) FIX Impact Net Organic EBITDA Growth Q4FY23 Adjusted EBITDA organic Y/Y growth of 13% and CC (4) Y/Y growth of 12% $61 36.8% Margin Q4 FY23 (1) Non-GAAP pro forma includes the pre-acquisition adjusted EBITDA from Logistyx (2) Investment Spend includes the portion of the previously disclosed systems integrator ecosystem, marketing and internal support for investment spend totaling $5M for FY23 (3) Organic growth impact includes lower commission, bonus and other expense reduction in FY23 (4) Constant Currency (CC): Prior year FX rates applied to current year actuals to normalize for FX impact 14#15Fiscal 2023 Year-over-Year Non-GAAP Pro Forma Adjusted EBITDA e2open $196 31.8% Margin $4 FY22 ($19) (2) Investment Spend $36 Note: Figures are in USD millions. Please refer to appendix for non-GAAP reconciliation Net Organic EBITDA Growth $217 FIX Impact FY23 Adjusted EBITDA organic Y/Y growth of 11% and CC (4) Y/Y growth of 9% 33.3% Margin FY23 (1) Non-GAAP pro forma includes the pre-acquisition adjusted EBITDA from BluJay and Logistyx (2) Investment Spend includes the portion of the previously disclosed systems integrator ecosystem, marketing and internal support for investment spend totaling $19M for FY23 (3) Organic growth impact includes lower commission, bonus and other expense reduction in FY23 (4) Constant Currency (CC): Prior year FX rates applied to current year actuals to normalize for FX impact (1) 15#16Fourth Quarter FY 2023 Adjusted Free Cash Flow e2open (in millions) GAAP operating cash flow Add: Non-recurring cash payments (¹) Add: Change in channel client deposits payable (2) Adjusted operating cash flow Capital expenditures Less: M&A related capital expenditures (3) Normalized capital expenditures Adjusted free cash flow Q1 $24.9 16.0 (7.9) $33.0 (19.3) 9.2 (10.1) $22.9 Q2 ($22.7) 4.4 9.5 ($8.7) (12.3) 4.6 (7.7) ($16.4) Q3 $41.0 5.4 4.3 $50.7 (8.9) 3.1 (5.8) $44.9 Q4 $24.9 3.0 1.8 $29.8 (7.6) 3.6 (4.0) $25.8 FY2023 $68.1 28.9 7.8 $104.8 (48.1) 20.6 (27.5) $77.3 (1) Includes cash payments related to non-recurring M&A and one-time costs (2) Channel Client Deposits Payable represents client deposits for the incentive payment program associated with the Company's channel shaping application. The Company offers services to administer incentive payments to partners on behalf of the Company's clients. The Company's clients deposit these funds into a restricted cash account with an offset included as a liability in incentive program payable in the Consolidated Balance Sheets. (3) Primarily includes hardware and software purchases for integrating data center operations of newly acquired companies 16#17Reconciliation of Pro Forma Revenue Fourth Quarter and Full Year FY2023 (in millions) Total GAAP Revenue Deferred revenue purchase accounting adjustment (3) BluJay pre-acquisition revenue Logistyx pre-acquisition reve ue Total non-GAAP revenue Constant currency FX impact (4) Total non-GAAP revenue (constant currency basis) (5) GAAP Subscription Revenue Deferred revenue purchase accounting adjustment (³) BluJay pre-acquisition revenue Logistyx pre-acquisition revenue Non-GAAP subscription revenue Constant currency FX impact (4) Non-GAAP subscription revenue (constant currency basis) (5) Q4 FY2023 166.3 166.3 2.0 $168.3 136.9 136.9 1.5 $138.4 Q4 FY2022 (¹) 144.2 6.5 10.8 161.4 $161.4 115.8 6.5 7.6 129.8 $129.8 $ Var 22.1 (6.5) 4.9 2.0 $6.9 21.1 (6.5) (7.6) 7.1 1.5 $8.6 % Var 15.3% n/m n/m n/m 3.0% n/m 4.3% 18.2% n/m n/m n/m 5.4% n/m 6.6% FY FY2023 652.2 652.2 11.2 $663.4 532.9 532.9 8.5 $541.5 FY FY2022 (²) 425.6 53.6 96.7 40.2 616.0 $616.0 335.5 53.6 75.9 27.9 492.9 $492.9 $ Var 226.7 (53.6) (96.7) (40.2) 36.3 11.2 $47.4 197.4 (53.6) (75.9) (27.9) 40.0 8.5 $48.5 % Var 53.3% n/m n/m n/m 5.9% n/m 7.7% 58.8% n/m n/m n/m 8.1% n/m 9.8% (1) Non-GAAP pro forma inclusive of Logistyx, as if acquired on March 1, 2021. (2) Non-GAAP pro forma inclusive of Logistyx and BluJay, as if acquired on March 1, 2021. (3) Non-GAAP revenue adds back amortization of the purchase accounting fair value adjustment to deferred revenue resulting for the business combination as required by GAAP. This is no longer required beginning in fiscal year 2023. (4) Constant Currency refers to pro forma amounts excluding the impact of translating foreign currencies into U.S. dollars. To calculate foreign currency translation on a constant currency basis, operating results for the current year period for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the exchange rates in effect during the comparable period of the prior year (rather than the actual exchange rates in effect during the current year period) (5) Constant Currency refers to pro forma amounts excluding translation and transactional impacts from foreign currency exchange rates. e2open 17#18Reconciliation of Pro Forma Gross Profit Fourth Quarter and Full Year FY2023 (in millions) GAAP Gross profit Deferred revenue purchase accounting adjustment (3) Depreciation and amortization Share-based compensation (4) Non-recurring/non-operating costs (5) Non-GAAP gross profit BluJay pre-acquisition gross profit Logistyx pre-acquisition gross profit Total non-GAAP gross profit Non-GAAP Gross Margin % Constant currency FX impact (6) Total non-GAAP gross profit (constant currency basis) (7) Non-GAAP Gross Margin % (constant currency basis) (7) Q4 FY2023 87.0 28.6 0.7 0.4 $116.6 e2open $116.6 70.2% 0.8 $117.4 69.8% Q4 FY2022 (¹) 71.7 6.5 28.1 0.3 0.5 $107.0 5.7 $112.7 69.9% $112.7 69.9% $ Var 15.3 (6.5) 0.5 0.4 (0.2) $9.6 (5.7) $3.9 0.8 $4.7 % Var 21.4% n/m 1.9% n/m (32.7%) 9.0% n/m n/m 3.5% n/m 4.1% FY FY2023 330.3 114.1 1.5 2.5 $448.3 $448.3 68.7% 4.5 $452.8 68.3% FY FY2022 (²) 202.6 53.6 84.9 1.3 1.6 $344.0 64.0 20.5 $428.4 69.6% $428.4 69.6% $ Var 127.7 (53.6) 29.2 0.2 0.9 $104.4 (64.0) (20.5) $19.9 4.5 $24.4 % Var 63.0% n/m 34.3% 17.8% 52.8% 30.3% n/m n/m 4.6% n/m 5.7% (1) Non-GAAP pro forma inclusive of Logistyx, as if acquired on March 1, 2021. (2) Non-GAAP pro forma inclusive of Logistyx and BluJay, as if acquired on March 1, 2021. (3) Non-GAAP revenue adds back amortization of the purchase accounting fair value adjustment to deferred revenue resulting for the business combination as required by GAAP. This is no longer required beginning in fiscal year 2023. (4) Reflects non-cash, long-term share-based compensation expense (5) Primarily includes other non-recurring expenses such as systems integrations and consulting, advisory fees, and certain severance costs. (6) Constant Currency refers to pro forma amounts excluding the impact of translating foreign currencies into U.S. dollars. To calculate foreign currency translation on a constant currency basis, operating results for the current year period for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the exchange rates in effect during the comparable period of the prior year (rather than the actual exchange rates in effect during the current year period) (7) Constant Currency refers to pro forma amounts excluding translation and transactional impacts from foreign currency exchange rates. 18#19Reconciliation of Pro Forma EBITDA Fourth Quarter and Full Year FY2023 Q4 FY $ Var FY2023 FY2022 (¹) 67.7 10.5 (26.7) 51.1 $102.6 6.5 2.3 4.2 14.2 (4.5) (50.1) (21.4) (in millions) Net income (loss) Interest expense, net Income tax benefit Depreciation and amortization EBITDA Deferred revenue purchase accounting adjustment (³) Share-based compensation (4) Non-recurring/non-operating costs (5) Acquisition-related adjustments (6) Change in tax receivable agreement liability Change in fair value of warrant liability (8) Change in fair value of contingent consideration (⁹) Goodwill impairment Right-of-use assets impairment charge Loss on disposition Adjusted EBITDA BluJay pre-acquisition EBITDA and other Logistyx pre-acquisition EBITDA and other Total adjusted EBITDA Adjusted EBITDA Margin % (7) Constant currency FX impact (10) Total adjusted EBITDA (constant currency basis) Adjusted EBITDA Margin % (constant currency basis) (11) Q4 FY2023 (303.5) 21.4 (120.4) 53.4 ($349.1) 4.6 2.6 2.0 12.0 (0.8) 1.7 386.8 1.4 $61.2 $61.2 36.8% (0.8) $60.4 35.9% $53.9 0.2 $54.1 33.5% $54.1 33.5% (371.2) 10.9 (93.7) 2.3 ($451.7) (6.5) 2.3 (1.7) (12.2) 16.4 49.3 23.2 386.8 1.4 $7.3 (0.2) $7.1 (0.8) $6.3 % Var n/m 104.6% n/m 4.5% n/m n/m 97.4% (38.9%) (86.0%) n/m (98.5%) n/m n/m n/m n/m 13.6% n/m n/m 13.2% n/m 11.7% (720.2) 73.8 (250.4) 213.3 ($683.5) 17.8 10.2 16.3 2.9 (37.5) (16.0) 901.6 4.1 1.4 $217.1 $217.1 33.3% (3.7) $213.4 32.2% FY FY2022(²) (189.9) 32.6 (30.1) 142.6 ($44.8) 53.6 11.3 9.7 64.4 0.2 (1.6) 69.8 $162.5 32.8 0.9 $196.1 31.8% $196.1 31.8% $ Var (530.3) 41.2 (220.3) 70.7 ($638.8) (53.6) 6.5 0.4 (48.1) 2.7 (35.9) (85.8) 901.6 4.1 1.4 $54.7 (32.8) (0.9) $21.0 (3.7) $17.3 % Var n/m n/m n/m 49.5% n/m n/m 57.3% 4.4% (74.7%) n/m n/m n/m n/m n/m n/m 33.7% n/m n/m 10.7% n/m 8.8% (1) Non-GAAP pro forma inclusive of Logistyx, as if acquired on March 1, 2021. (2) Non-GAAP pro forma inclusive of Logistyx and BluJay, as if acquired on March 1, 2021. (3) Non-GAAP revenue adds back amortization of the purchase accounting fair value adjustment to deferred revenue resulting for the business combination as required by GAAP. This is no longer required beginning in fiscal year 2023. (4) Reflects non-cash, long-term share-based compensation expense (5) Primarily includes other non-recurring expenses such as systems integrations and consulting, advisory fees, and certain severance costs. (6) Primarily includes advisory, consulting, accounting and legal expenses incurred in connection with mergers and acquisitions activity, including related valuation, negotiation and integration costs and capital-raising activities for costs related to the Business Combination, as well as the Logistyx and BluJay acquisitions. (7) Represents the expense related to the change in the fair value of the tax receivable agreement liability, including interest. (8) Represents the fair value adjustment at each balance sheet date of the warrant liability related to the public, private placement and forward purchase warrants. (9) Represents the fair value adjustment at each balance sheet date of the contingent consideration liability related to the restricted Series B-1 and B-2 common stock and Sponsor Side Letter (10) Constant Currency refers to pro forma amounts excluding the impact of translating foreign currencies into U.S. dollars. To calculate foreign currency translation on a constant currency basis, operating results for the current year period for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the exchange rates in effect during the comparable period of the prior year (rather than the actual exchange rates in effect during the current year period) (11) Constant Currency refers to pro forma amounts excluding translation and transactional impacts from foreign currency exchange rates. e2open 19

Download to PowerPoint

Download presentation as an editable powerpoint.

Related

1st Quarter 2021 Earnings Presentation image

1st Quarter 2021 Earnings Presentation

Technology

Rackspace Technology Q4 2022 Earnings Presentation image

Rackspace Technology Q4 2022 Earnings Presentation

Technology

CBAK Energy Technology Investor Presentation image

CBAK Energy Technology Investor Presentation

Technology

Jianpu Technology Inc 23Q1 Presentation image

Jianpu Technology Inc 23Q1 Presentation

Technology

High Performance Computing Capabilities image

High Performance Computing Capabilities

Technology

SOLOMON Deep Learning Case Studies image

SOLOMON Deep Learning Case Studies

Technology

1Q20 Earnings image

1Q20 Earnings

Technology

Nutanix Corporate Overview image

Nutanix Corporate Overview

Technology