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Investor Overview

Investor Overview. March 2014. Safe Harbor.

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Investor Overview

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  1. Investor Overview March 2014

  2. Safe Harbor This presentation contains forward-looking statements including, among other things, statements regarding our business, momentum, growth and future plans. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to (i) adverse changes in general economic or market conditions; (ii) delays, reductions or slower growth in the amount spent on online and mobile advertising and the development of the market for cloud-based software; (iii) competitive factors, including but not limited to pricing pressures, entry of new competitors and new applications; (iv) adverse changes in our relationships with and access to publishers and advertising agencies; (v) level of usage and advertising spend managed on our platform; (vi) our ability to expand sales of our solutions in channels other than search advertising; (vii) our ability to expand our sales and marketing capabilities and manage our growth effectively; (viii) the development of the market for digital advertising or revenue acquisition management; (ix) acceptance and continued usage of our platform and services by customers and our ability to provide high-quality technical support to our customers; (x) material defects in our platform, service interruptions at our data center or breaches in our security measures; (xi) our ability to develop enhancements to our platform; (xii) our ability to protect our intellectual property; (xiii) our ability to manage risks associated with international operations; and (xiv) our ability to retain and attract qualified management and technical personnel. These forward looking statements are based on current expectations and are subject to uncertainties and changes in condition, significance, value and effect as well as other risks detailed in documents filed with the Securities and Exchange Commission, including in the section entitled “Risk Factors” in our quarterly report on Form 10-K for the year ended December 31, 2013, and our other filings with the SEC, which are available free of charge at the Investor Center section of our website at http://investor.marinsoftware.com/, all of which could cause actual results to differ materially from expectations set forth in the forward-looking statements. All forward-looking statements in this presentation reflect Marin’s expectations as of February 11, 2014. Marin assumes no obligation to, and expressly disclaims any obligation to update any such forward-looking statements after the date of this presentation.

  3. SaaS Platform for Digital Ad Management Manage Optimize Measure Time Savings Financial Lift Better Decisions

  4. Revenue Acquisition Management Leader • 673active advertisers • 6.3 billion ad units managed • Campaigns in 160 countries • $6.0BN of annualized ad spend in Q4 2013 Annual Revenue ($MM) $77.3 $59.6 $36.1 $19.0 $7.5 2009 2010 2011 2012 2013

  5. Investment Highlights Serving Large and Fast Growing Digital Ads Market Search Display Leader in Revenue Acquisition Management Comprehensive Analytical and Transactional Platform High Growth SaaS Model with Participatory Economics Social Mobile Proven Results for Blue-Chip Customers

  6. Large, Fast-Growing Digital Advertising Market Source: Magna Global, Digital Media Forecasts, December 2013. $ in billions *CAGR 2013-2018

  7. Increasing Digital Marketing Challenges Complexity Fragmentation Scale

  8. Day in the Life of a Digital Marketer Operational Tasks Optimizations Strategic Opportunities • Format tracking codes • Stitch cost and revenue data • Pivot and trend data in excel • Build reports for management • Format bulk sheets for upload • Refine keywords and targeting • Test creative and landing pages • Geo and device targeting • Adjust and optimize bids • Day-part campaigns • Allocate budgets • Launch new products and offers • Test new channels and publishers • Forecast volume, profit and cost • Adjust to budget variances

  9. Revenue Acquisition Management Platform Publisher Data Revenue & Conversion Data Ad Servers Search Analytics Display Optimization Campaign Management MarinTracker Social Reporting & Analytics Offline Data Mobile Measure Manage Optimize

  10. RAM Platform: Powerful & Easy To Use Analytics to Action Interface

  11. Applied Big Data & Customer-Focused Innovation 6.3 Billion Ad units under management 3 Million Queries per month 80 Million Campaign changes per day 250+ Terabytes Stored across 50DB 1 Code Base Multi-tenant architecture 11 Major Releases Annually Iterative development

  12. Key Online Ad Trends Favor a Platform • Move from keywords to audiences • Proliferation of channels, devices, publishers, and ad units • Multi-channel bidding and attribution • Focus on customers (and lifetime value) not transactions via CRM data • Integrate and leverage disparate data sources

  13. Marin’s Product Vision Advertisers will want a platform that connects with all their disparate data sources to ensure decisions are made using all their data. Open platform with access to any number of marketing applications in an integrated manner (App Store) The future is targeting audiences with added insights driven by search intent and attribution. • Single platform and user interface for all marketing channels and devices

  14. Independent, Open Platform for Cross-Channel Revenue Acquisition

  15. Audience Connect: Using Data to Drive Performance Blue Kai / Exelate / Lotame / Etc. • Audience Analytics • Look-Alike Modeling for Audience Expansion • Intent-based Remarketing • Audience-based Bidding for Search Optimization

  16. Audience Connect: Distribution and Optimization

  17. Revenue Connect: Optimize Using Your Own Data • True Revenue Valuation • Offline Conversion Tracking • Forecasting Lifetime Value • Flexible Revenue Capture • Certified Revenue Partner Ecosystem

  18. Report and Optimize Across Your Portfolio of Channels • Cross Channel Management • Integrated Reporting and Analytics • Flexible Revenue Tracking • Automated Bid Calculations For Any Publisher, Any Goal • Attribution Across Publishers

  19. Channel Connect: More Options for RAM • Publisher data for reporting and optimization • Twitter and Yandex debut by end of Q2 2014

  20. Context Connect: Action Via External Data Sources • Connect any contextual data source • Smarter decisions with greater insight • Dynamically adjust campaign objects • More intelligent bid optimization • Customizable through Marin Labs

  21. Optimize Using Data That Impacts Your Business • CONTEXT CONNECTIONS • A flexible onramp for integrating and reporting on contextual data sources: • Weather • Stocks • Sport scores • Nielsen Rating • View external data sources alongside marketing performance • Drive smarter optimization strategies • DYNAMIC ACTIONS • Schedule automated actions based on performance, attributes, and settings: • Adjust bids based on Dimension values • Pause objects based on conversion rate • Increase budgets based on ROI • Update landing pages based on CTR • Build complex actions to address marketing sophistication

  22. Open: BoostCTR Integration

  23. Independent, Open, Extensible RAM Platform

  24. Industry Leaders Grow Facebook Programs With Marin • Rapidly scale programs • Acquire high LTV customers • Drive mobile ROI • Raise CTR’s and extend campaign life • Meet any financial or social objective • Global service and support “Marin has dramatically changed the way we advertise on Facebook and has made it one of our most effective performance marketing channels” - Chase Wells, Director of Marketing at Webtrends 23

  25. Competitive Landscape Competition Marin Publisher Tools • Independent, trusted 3rd party • Cross publisher workflow and reporting • Advanced bidding and optimization tools • Ability to manage complexity and scale • Open, extensible platform; enterprise-class data import and export capabilities • Expert service teams with global reach Technology Providers Internal Build • Leading combination of power and ease of use • Support for new publisher innovation • Software as a service pricing model

  26. Large, Underpenetrated Market 2017 $174BN Digital Advertising Market 2017 8,500+ Enterprise Opportunities >$100K / Month 2012 5,500+ Enterprise Opportunities >$100K / Month 2012 $98BN Digital Advertising Market Source: Magna Global, Marin Internal

  27. Multiple Growth Drivers Expand Internationally Add Platform Modules Support New Publishers Acquire New Customers Grow Existing Ad Spend

  28. Experienced Management Team Customer-Centric, Team-Oriented Culture

  29. Finance Overview

  30. Key Financial Highlights • Strong Track Record of Growth • 100% SaaS Subscription Model • Increasing Ad Spend and Consistent Advertiser Growth • Growth Through New and Existing Advertisers • Highly Diversified Revenue Mix • Significant Long-Term Operating Leverage

  31. Strong Track Record of Growth Annual Revenue ($MM) $77.3 $59.6 $36.1 $19.0 $7.5 2009 2010 2011 2012 2013 Quarterly Revenue ($MM) $21.8 $20.1 $18.2 $17.2 $17.1 $15.5 $14.0 $13.0 $11.4 $9.5 $8.1 $7.1 $6.0 $5.0 $4.6 $3.4 $2.9 $2.3 $1.4 $1.0 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 2011 2009 2010 2012 2013

  32. 100% SaaS Subscription Model Example Customer • 100% SaaS-Based Subscription Model • Revenue Based on % of Monthly Ad Spend • Shared Customer Success – Virtuous Cycle Agency Direct • Channel Leverage • 1-2 year fixed-rate contracts • Generally 12 month terms • Minimum Fees – 50-70% of projected monthly revenues

  33. Increasing Advertisers and Ad Spend Total Active Advertisers 673 610 584 542 531 502 487 436 390 337 280 240 223 195 151 134 116 100 79 50 Q4 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2009 2010 2011 2012 2013 Annualized Advertising Spend Under Management ($BN) $6.0 $4.7 $3.2 $1.7 $0.6 2009 2010 2011 2012 2013 Note: Annualized spend based on last month of the period. Active Advertisers based on Advertisers with $2,000 in revenue in at least one month of the quarter

  34. Highly Diversified Revenue Mix Diversified Advertiser Base Global Presence % Revenue Retail 21% International 31% U.S. 69% Travel 17% Technology 14% Balanced Revenue Mix Finance 13% B2B 10% Education 7% Direct 52% Agency 48% Other 18% Note: All metrics based on FY 2013; Other includes Automotive, Healthcare, Real Estate, Industrial / Manufacturing and Government.

  35. Q4 Highlights & 2014 Guidance • Strong Q4 performance, beating our guidance • Improved gross margins • Total cash on balance sheet as of December 2013: $104.4 million Guidance Revenue Non-GAAP Operating Loss Non-GAAP Net Loss per Share • Q1: $21.4 to $21.8 million • 2014: $95.0 to $96.6 million • Q1: ($8.9) to ($8.5) million • 2014: ($30.5) to ($28.9) million • Q1: ($0.28) to ($0.26) • 2014: ($0.94) to ($0.90) Note: Guidance as of February 11, 2014. See Q4-13 Earnings Release dated February 11, 2014 for Non-GAAP definition and reconciliation to GAAP metrics.

  36. Investment Highlights Serving Large and Fast Growing Digital Ads Market Search Display Leader in Revenue Acquisition Management Comprehensive Analytical and Transactional Platform High Growth SaaS Model with Participatory Economics Social Mobile Proven Results for Blue-Chip Customers

  37. Appendix

  38. GAAP to Non-GAAP Reconciliation Year Ended December 31 FY2012FY2013Q4’12Q4’13 Gross Profit (GAAP) $ 34.8 $46.2$10.0 $13.7 Plus Stock-based Compensation 0.4 0.9 0.1 0.2 Plus Amortization of Cap'd R&D 0.5 1.20.20.4 Less Capitalized R&D costs (0.0) - (0.0) - Gross Profit (Non-GAAP) $35.7$48.2$10.3 $14.3 Operating loss (GAAP) ($25.3) ($34.3)($6.8)($7.9) Plus Stock-based Compensation 4.9 5.20.71.3 Plus Amortization of Cap'd R&D 0.5 1.20.20.4 Plus Noncash expense related to warrants 0.1 - - - Less Capitalized R&D costs (1.7) (3.2) (0.5)(0.7) Operating loss (Non-GAAP)($21.5) ($31.2)($6.4)($6.9) Net Loss (GAAP) ($26.5)($35.9)($7.3)($8.1) Plus Stock-based Compensation 4.9 5.20.71.3 Plus Amortization of Cap'd R&D 0.5 1.20.20.4 Plus Noncash expense related to warrants 0.60.50.2 0.1 Less Capitalized R&D costs (1.7) (3.2) (0.5)(0.7) Net Loss (Non-GAAP) ($22.2)($32.2)($6.6)($7.0) (in millions)

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