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Csod investor deck first quarter
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- 2. Safe Harbor This presentationincludes forward-looking statements. In this presentation, the words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “predict,” “potential” and similar expressions, as they relate to Cornerstone OnDemand, Inc. (“Cornerstone OnDemand” or the “Company”), business and management, are intended to identify forward-looking statements. In light of the risks and uncertainties outlined below, the future events and circumstances discussed in this presentation may not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends affecting its business. Forward-looking statements should not be read as guarantees 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. Forward-looking statements are based on information available at the date of this presentation and management’s good faith belief as of such date with respect to future events, 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: • Statements regarding the Company’s business strategies; • The Company’s anticipated future operating results and operating expenses; • The Company’s ability to attract new clients to enter into subscriptions for its solution; • The Company’s ability to service those clients effectively and induce them to renew and upgrade their deployments of the Company’s solution; • The Company’s ability to expand its sales organization to address effectively the new industries, geographies and types of organizations the company intends to target; • The Company’s ability to accurately forecast revenue and appropriately plan its expenses; market acceptance of enhanced solutions, alternate ways of addressing learning and talent management needs or new technologies generally by the Company and its competitors; continued acceptance of SaaS as an effective method for delivering learning and talent management solutions and other business management applications; the attraction and retention of qualified employees and key personnel; • The Company’s ability to protect and defend its intellectual property; costs associated with defending intellectual property infringement and other claims; events in the markets for the Company’s solution and alternatives to the Company’s solution, as well as in the United States and global markets generally; future regulatory, judicial and legislative changes in the Company’s industry; changes in the competitive environment in the Company’s industry and the markets in which the Company operates; and other factors discussed under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s periodic reports filed with the Securities and Exchange Commission (the “SEC”). Forward-looking statements speak only as of the date of this presentation. You should not put undue reliance on any forward-looking statement. The Company assumes no obligation to update any forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting future performance or results, except to the extent required by applicable laws. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. In considering investing in the Company’s securities, you should read the documents the Company has filed with the SEC for more complete information about the Company. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. 2
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- 5. 2010 Our Evolution The LastDecade… 5
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- 7. 7Note: User andclient count figures exclude Growth Edition and Cornerstone for Salesforce. CLIENTS 2,500+ USERS 23M+ COUNTRIES 191 LANGUAGES 42 OFFICES 19 San Francisco Santa Monica Sunnyvale Sao Paulo Madrid Paris London Amsterdam Stockholm Dusseldorf Munich Tel Aviv Bangalore Mumbai Hong Kong Tokyo Sydney Auckland Today with Global Reach… As of December 31, 2015 New Delhi
- 8. Acquired by Acquired by Acquiredby Acquired by Acquired by 8 …and an Organically-Grown Core Suite
- 9. Cornerstone is theTalent Management Leader 9 Niche Players Visionaries Challengers Leaders Magic Quadrant for Talent Management Suites Lumesse COMPLETENESS OF VISION ABILITYTOEXECUTE Source: Gartner (August 2015) Deltek (HRsmart) Technomedia Haufe PeopleFluent SumTotal Halogen Software Saba Oracle (Talent Management Cloud) SAP (SuccessFactors) Talentsoft
- 10. Bolstered by TierOne Global Partners 10 Select Alliances
- 11. 11 x The Ability toIntegrate with Everyone
- 12. OVER TIME, MOREPEOPLE + MORE TO SELL LEARNING PERFORMANCE RECRUITING ANALYTICS Now with More People with More to Sell
- 13. Strong Results 13 $11.0 $19.6 $29.3 $46.6 $75.5 $117.9 $185.1 $263.6 $339.7 $0 $50 $100 $150 $200 $250 $300 $350 2007 20082009 2010 2011 2012 2013 2014 2015 $15.0 $24.9 $34.5 $60.9 $97.6 $154.3 $231.7 $316.1 $400.5 $0 $60 $120 $180 $240 $300 $360 $420 2007 2008 2009 2010 2011 2012 2013 2014 2015 (in millions) (in millions) Revenue Bookings
- 14. Growing ASPs AcrossAll Geographies 14 +48% +15% +44% North America Europe, Middle East & Africa Asia Pacific
- 15. Growth Across AllMetrics 15 $11.0 $19.6 $29.3 $46.6 $75.5 $117.9 $185.1 $263.6 $339.7 2007 2008 2009 2010 2011 2012 2013 2014 2015 Revenue Growth 105 168 280 481 805 1,237 1,631 2,153 2,595 2007 2008 2009 2010 2011 2012 2013 2014 2015 Client Growth 0.9 2.1 3.3 4.9 7.5 10.6 14.0 18.1 23.8 2007 2008 2009 2010 2011 2012 2013 2014 2015 User Growth (in millions) (in millions) Note: User and client count figures exclude Growth Edition and Cornerstone for Salesforce.
- 16. Clear Path toProfitability 16 $(1.6) $(1.4) $3.1 $10.7 $17.0 $31.8 $47.5 ($5) $5 $15 $25 $35 $45 $55 2010 2011 2012 2013 2014 2015 2016E (in millions) -21.9% -17.0% -13.4% -6.7% -6.4% -6.2% 0.2% -25% -20% -15% -10% -5% 0% 5% 2010 2011 2012 2013 2014 2015 2016E Non-GAAP Free Cash Flow Non-GAAP Net Loss Margin *Non-GAAP free cash flow calculation does not include capitalized software development costs Note: 2016E values reflect the latest issued guidance. 2016E non-GAAP net loss margin uses the midpoint of the revenue guidance range of $425 - $433M
- 17. Our Opportunity Marching to$1 Billion
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- 19. The Market Needis Real 19 Ben Schiller | May 8, 2015 What Do Workers Want from the Boss? Walter Frick | November 3, 2015 When Treating Workers Well Leads to More Innovation Adam Miller | March 26, 2015 3 Things Millennials Want in a Career (hint: it’s not more money) Sylvia Voerhauser-Smith | October 15, 2015 Is HR Disconnected? Here’s How HR Can Reconnect and Embrace the Future Lauren Weber | September 30, 2015 How to Get More Women Into the Workforce
- 20. The Market isHUGE 20 23.8MUSERS ADDRESSABLE MARKET $31B 85MEST. USERS CURRENT MARKET 400MADDRESSABLE SEATS CORNERSTONE Source: Adapted from Gartner, IDC, US Census Bureau
- 21. Opportunities Abound ü ContinuedCore Market Sales ü Global Expansion ü Market Segmentation ü Vertical Opportunity ü Installed Base Opportunity ü Extended Enterprise 21
- 22. Accelerating Client Traction 22 2003-20052010 2012 20142008 2009 2011 2013 20152006-2007 Key Client Additions 12 21 44 73 105 168 280 481 805 1,237 1,631 2,153 2,595 0 400 800 1,200 1,600 2,000 2,400 2,800 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
- 23. Expanded Global Footprint 23 Europe,Middle East & Africa Select Notable Clients Select Notable Clients JAPAN CHINA AUSTRALIA JAPAN INDIACHINA Asia Pacific SWITZERLAND SPAIN NETHERLANDSFRANCEUNITED KINGDOM GERMANY 8 29 OFFICES LANGUAGES EST. USERS 7 9 1.8M OFFICES LANGUAGES EST. USERS 6.4M
- 24. 24 Seven & EightFigure Deals ü America’s largest insurance company ü Second largest bank in the U.S. ü Largest bank in Switzerland ü Largest aerospace manufacturer in Europe ü Largest auto-parts manufacturer in the world ü Largest multinational pharma company in the world ü Largest baking company in the world ü Largest bank in Germany ü Largest professional services firm in the world ü Largest full service restaurant company in the world ü Largest tax service provider in the world New Sales in Q4 2015:
- 25. 25 Purpose-built talent management solution forGrowing Businesses • Mobile ready • Self configurable • 3 hour deployment • Bundled training Growth Edition for Small Business
- 26. HAVE 2+ MODULES 2/3 Installed BasePenetration 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 2+ 3+ 3+ 3+ 3+ 3+ 3+ 3+ 3+ 3+ 3+ 3+ 3+ 3+ HAVE 3+ MODULES 1/2Nearly 26 More Than 2+
- 27. Installed Base Opportunity 27 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2,200 2,400 2,600 LearningPerformance Succession Connect Compensation Recruiting Onboarding Existing Client Penetration Client Opportunity NumberofClients Nearly $2B opportunity within installed base 60% penetration among other products results in nearly $800M opportunity Calculated based on 2,595 clients with approximately 9,200 users on average
- 28. Extended Enterprise Opportunity 28 Engage& enable the entire ecosystem • Training for profit • Partner enablement • Customer engagement • Crowdsourcing
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- 30. 30 ü FIRST to theCloud ü FIRST to do Integrated Talent Management ü FIRST to include Social Networking in Talent Management ü FIRST to do client success management ü FIRST to understand consumerization of the enterprise ü FIRST to integrate full machine learning Cornerstone is Visionary
- 31. Cornerstone has “MassiveData” 31 User ü Position ü Previous Position ü Education ü Skills ü Certifications ü Accomplishments ü Languages ü Organization ü Preferences Collaboration ü Connections ü Live Feed (Status) ü Feedback ü Actions ü Snapshot ü Teams ü Discussions ü Badges ü Likes ü Comments Talent Organization ü Transcript ü Performance ü Skills ü Goals ü Assessments ü Dev Plans ü Succession ü Compensation ü Applicants ü Applicant Status ü Industry ü Business Unit ü Department ü Division ü Region ü Groups ü Hierarchies ü Cost Center ü Grade ü Location 23.8M USERS | 191 COUNTRIES | DECADE OF DATA
- 32. 32 REPORT Cornerstone Reporting Standard & customreports embedded with Cornerstone DISCOVER Cornerstone View Highly visual dashboards that can easily slice/ dice talent information PLAN Cornerstone Planning Big data solution for workforce planning PREDICT Cornerstone Insights Predictive analytics for managing talent decisions Cornerstone Analytics 32
- 33. LEARN Cornerstone Developer Developer community to learn andaccess key resources for Cornerstone Edge INTEGRATE Cornerstone API & Integrations Explore the Edge API library, documentation, tutorials BUILD Cornerstone Edge Builder Create new, unique applications leveraging Cornerstone APIs & developer tools MARKET Cornerstone Marketplace Easily access, download, install and configure custom and 3rd party apps 33
- 34. The Power ofPlatform 34 Multi-tenant REST APIs Mobile-Ready Cornerstone Apps Partner Apps Custom Apps One unified suite to recruit, train, develop, & connect employees Marketplace of apps integrated & embedded within Cornerstone Client-specific applications designed & built by clients or partners
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