Ondo Insur Tech Plc · LSE:ONDO
Ondo Insur Tech — FY2024 Earnings Presentation
19 slides from Ondo Insur Tech's earnings presentation, Jul 30, 2024
Slide 1: Full Year Annual Results, 12 Months to March 31 2024
RR ALES Iso wey ESU Iso 27001 Information Security Management .ONDO FULL YEAR MADE IN BRITAIN ANNUAL RESULTS |_ 12 MONTHS TO MARCH 31 2024
Slide 2: Disclaimers
Disclaimers THIS PRESENTATION AND ITS CONTENTS ARE STRICTLY CONFIDENTIAL AND IS ONLY FOR RELEASE IN THE UNITED KINGDOM. THIS PRESENTATION IS NOT AN OFFER OR INVITATION TO BUY OR SELL SECURITIES. This presentation, and any ancillary documents relating to It, any oral presentation and any question or
Slide 3: Breakthrough InsurTech Business
ONDO BREAKTHROUGH INSURTECH BUSINESS Founder and CEO CFO Chairman of the Board Our Mission aaa To become a world leader in claim prevention technology for home insurers Our Vision 4 Internet of Things protecting we every home, reducing waste and helping the planet
Slide 4: Full year highlights
2 ONDO ¢ Revenue to £2.7m +29% ° Recurring Revenues to £1.4m (up 41%) - run rate £1.7m at year-end ¢ Reduced loss before tax of £3.2m (2023: loss £6.2m) ° Successful capital raise of £4.2m to support US growth ¢ 5.2m Addressable Housholds vic existing contracts - increased by 2.2x * Consistent growt
Slide 5: Claim Prevention System
CLAIM PREVENTION SYSTEM Water Damage Prevention System ~— Seif install low cost sensor Leak alerts to home owner Integrated in-home Detects leaks anywhere on Book a leak location Engineer service of leak location mains water through the mobile app specialists Used by 18 insurers around the world to
Slide 6: Registered Customer Growth
REGISTERED CUSTOMER GROWTH 120000 111,000 * LeakBot invented by the team in 2017 Registered Customers As at July 2024 * Launch commercial product in 2019 eS 100000 * Ondo InsurTech founded in March 2022 via — RTO transaction NATIONWIDE LAUNCH LEAKBOT * Rollout with Sweden's largest insurer Nov 2023
Slide 7: Revenue Growth and Recurring Revenue
3.0 25 2.0 an 1.0 Os 0.0 § 2 REVENUE GROWTH RECURRING REVENUE y @ 20 Registered Recurring £2.7m Customers Revenue +29% ane 3% (%) (%) £0.7m Mar 22 Mar 23 Mar 24 Mar 22 Mar 23 Mar 24 exit Rate Mar 24 Exit Rate USA 8 Recurring Revenue * Recurring revenue grown by 41% B UK. || old * 3% of new customers
Slide 8: Penetration
PENETRATION MAR 22 MAR 23 MAR 24 PENETRATION Millions ADDRESSABLE HOUSEHOLDS (SIGNED CONTRACTS) ¢ 2 step-changes in addressable households * Lag effect on customer growth © In FY2024 73% of growth from Nordics a | Me 22x Nationwide 6.00 ® REGISTERED CUSTOMER GROWTH MAR 2024: wa OF —— 95,468 . 80000
Slide 9: Registered Customer Vintages
REGISTERED CUSTOMER VINTAGES CUSTOMER COHORTS * Graph shows Registered Customers by Cohort « 94% Annual Renewal Rate in FY24 * High customer retention * Registered customers drives recurring revenues, and move to $5pm pricing model has further embedded value of recent cohorts 2017 2018 2019 2020 202
Slide 10: Homeowner Satisfaction
HOMEOWNER SATISFACTION fat € CUSTOMER REVIEWS 4.8 ON TRUSTPILOT Based on 1146 Reviews 4.6 ON APPSTORE OS hkkke Based on 657 Reviews & IN-HOME VISIT SATISFACTION 7 Jun 202: LeakBot Having LeakBot has proved invaluable. Their engineers respond really promptly and do a thorough job to investigate and f
Slide 11: KPI Summary
KPI SUMMARY Note Ondo InsurTech Plc listed in March 2022 prior to listing was owned by HomeServe Ple 12 months to Mar 31 12 months to Mar 31 12 months to mar 31 2022 2023 2024 Change Device Set Up Fees (£000s) 580 1,079 1,276 +18% Ongoing Revenue (£000s) 158 1,003 1,416 +41% Total Revenue (£000s) 73
Slide 12: Financial Overview
FINANCIAL OVERVIEW £000s 18 Month Period Ended Year Ended Mar 31 2023 Mar 312024 Total Revenue 2,384 2,692 Gross Profit 850 740 Gross Margin 36% 27.5% Operating Loss (5,872) (3,238) Loss Before tax (6,223) Earnings Per Share (p) (9.13) (3.75)
Slide 13: Post balance sheet date
Post balance sheet date raised £4.2m through a placing and open offer in May 2024 to support the deployment pipeline of LeakBot especially in the United States As at Mar 31 As at Mar 31 2023 2024 Non Current Assets 154 528 Trade and othe receivables 829 1,299 Inventories 423 649 Cash & Cash Equivale
Slide 14: United States
UNITED STATES 10000 0.20 New US ‘ustomers on $5pm 8000 6000 | wt 4000 2000 Nil Mar 2023 Mar 2024 : Mar 2023 SELECTIVE Registered Customers Mar 2024 Recurring Revenue Run Rate (£m) 4US insurer contract wins in reporting period: Nationwide, Pure, Selective, Mutual of Enumclaw 4 US state Launches: New
Slide 15: Nordics
__ <3 NORDICS +160% SHARE TALK 50000 +79% os ¢ Nordics accounted for over 70% of net growth in registered customers during FY 2024 40000 "Very Happy with 40% Reduction in 30000 ¢ Lansforsakringar have announced they have achieved a 40% water damage claims saving with LeakBot 20000 ° ALF app launched
Slide 16: UK
aa HISCOX _ ———— South West Water 50000 40000 30000 20000 10000 Mar 2023 Mar 2024 Registered Customers Mar 2023, Mar 2024 Recurring Revenue Run Rate (£m) New contract wins as claims inflation makes LeakBot more attractive to UK insurers New contract win with Ageas New contract win with South West Wa
Slide 17: Consistent Strategy, Tight Focus
CONSISTENT STRATEGY, TIGHT FOCUS ONDO OurMission Our Vision To become a world leader in claim @B Internet of Things protecting every home, = prevention technology for home insurers wy reducing waste and helping the planet bs Where To Play How To Win & ; . rca Primary B2B Customers: Home insurers MA
Slide 18: Summary
SUMMARY 2 ONDO ¢ Revenue to £2.7m +29% © Recurring Revenues to £1.4m (up 41%) - run rate £1.7m at year-end * Reduced loss before tax of £3.2m (2023: loss £6.2m) ° Successful capital raise of £4.2m to support US growth ¢ 5.2m Addressable Housholds vic existing contracts - increased by 2.2x * Consiste
Slide 19: Thanks For Your Attention
ats, ONDO THANKS For Your Attention www.ondoplic.com © @ondoPlc