investor update
Winter - February 2022
Embedded Files
Reflections of last period - Greenfield
Reflections of last period - Greenfield
Performance Highlights:
Performance Highlights:
10x YoYoY
despite supply and pandemic slowdowns
delaying total in-market results
we are seeing operational improvements
and in-market validation of model
and momentum is being reestablished with...
Performance at end of Calendar Year 2021:
Performance at end of Calendar Year 2021:
TPV
TPV
[Q4 Total - $2.85M]
[Q4 Total - $2.85M]
active customers
[Q4 Avg. - 115]
>50 taps/device
[Q4 Avg - 44.5]
TPV/device/month
[Q4 Avg - $341.08]
devices
devices
[Q4 Avg. - 8,354]
[Q4 Avg. - 8,354]
device shipments/mth
[Q4 High - 17,105]
CAD device cost
[Avg Cost in INV - $188.33]
devices shipped without errors
[Q4 Actual - 99.6%]
days issue resolution
[Q4 Avg. - 5.2]
revenue
revenue
[Q4 Total - $1.0M]
[Q4 Total - $1.0M]
profit
[Q4 Total - $-1.6M]
gross margin
[Q4 Actual - 66%]
The Plan Ahead - Greenfield
The Plan Ahead - Greenfield
themes
tell a common story.
few to many.
storyline that's simple and easy for everyone.
operational optimization.
team and individual accountability.
new customers
new customers
sector development
sector development
service cost capture
service cost capture
more regional testing
more regional testing
Faith Based Giving
Faith Based Giving
tiptapSPORTS
tiptapSPORTS
Golf Courses
Golf Courses
Parades & Festivals
Parades & Festivals
growth update - Birkness
growth update - Birkness
What we accomplished:
What we accomplished:
Continued growth across Canadian charities nationally recognized fundraising programs and year round giving.
Began rollout of programs in United States and trials in 6 additional countries and 4 continents.
Expansion of Intellectual Property extending our trademarks and patents to the US, UK, EU, Australia and New Zealand. Also added our unique signage and gasket designs.
What challenges we faced and what we've done:
What challenges we faced and what we've done:
In a difficult market we built high performance sales team across 10 sectors and territories.
Impact of Covid has resulted in canceled events and limited fundraising activities - tiptap has partnered with retail partners and other strategic partners to help charities broaden their fundraising reach.
Lack of volunteers for traditional face to face fundraising - tiptap has helped supplement teams with unattended capabilities.
What opportunities are we focused on at tiptap:
What opportunities are we focused on at tiptap:
Expansion in the US market and new pilot programs in the UK, Continental Europe and Australia New Zealand in 2023.
Expansion of strategic sales partnerships expanding our sales force exponentially.
Growth into new payments sectors including Sports, Transit, and Hospitality.
operations update - Wayne
operations update - Wayne
What we accomplished:
What we accomplished:
Tested our deployment to achieve output rate of over 20,000 devices per month.
Successfully supported in market campaigns at scale and identified optimization opportunities for 2022.
Prototype delivery and testing of next generation device. Production to begin in September.
What challenges we faced and what we've done:
What challenges we faced and what we've done:
Secured components to get to 60k in V1 units in 2022, established preferred vendors for all core solution components.
Current device product optimization as we identified and addressed connectivity & firmware issues at scale.
A multi-touch process even for small customers is being simplified and aligned to one common interface and system.
What opportunities are we focused on at tiptap:
What opportunities are we focused on at tiptap:
Alignment of Demand Planning with Supply Ordering & Production Scheduling through investment in supplier partnerships, to capture more than our fair share of scarce supply.
Global device improvements and refinements to final manufacturing design with significant cost savings.
IT System Ecosystem Development/Implementation following a common customer journey and internal processes across one common UI and backend system (Website, e-Commerce, Online Order forms, CRM, NetSuite ERP, Rapid Customer Onboarding, Customer Reporting & BI Tools, ticketing and telephony for Customer Care).
financials update - Stephen
financials update - Stephen
Targets & KPIs for 2022 updated as of January 2022:
Targets & KPIs for 2022 updated as of January 2022:
$200M TPV
$200M TPV
500 devices/rep/month
500,000 device months/year
500 active customers
>50 taps/device
>$400 TPV/device/month
60,000 devices
60,000 devices
20k device shipments/mth
<$200 CAD device cost
98% devices shipped without errors
2.5 days issue resolution
$20M revenue
$20M revenue
$4M profit
>80% gross margin (avg $25/mth rental)
<20% SG&A
90% retention
What we accomplished:
What we accomplished:
Inventory secured for 60,000 device build and $8M WIP value.
Improved risk management and preparation for larger scale security and risk management.
Minimized development costs and substantial future device manufacturing savings.
What challenges we faced and what we've done:
What challenges we faced and what we've done:
Delayed deployment of customer campaigns due to COVID.
Increased shareholders and preparation of public reporting requirements.
Supply chain shortages and lead time minimization in tight environment.
What opportunities are we focused on at tiptap:
What opportunities are we focused on at tiptap:
Preparing our path to IPO with continued governance improvements.
Leveraging enterprise software for scalability with NetSuite implementation.
Further accessing growth funding for 2023/24 device builds through contract financing and other means.
team update - Michelle
team update - Michelle
What we accomplished:
What we accomplished:
Onboarded 10 new hires in January, predominantly in the technology & product space.
Successful year end review of all employees, talent assessment and 2022 goal setting.
First U.S. hire added to drive sales in that market.
What challenges we faced and what we've done:
What challenges we faced and what we've done:
90 Day turnover = 40%. What we're doing about it -- 30 day check ins with new employees, regular touch points with managers, more rigorous screening if ready for scale-up culture.
Talent Attraction - hiring for key positions (VP Finance; Director Programs & Care). What we're doing -- using our networks more rigorously.
Sales Commission and Referral Fee -- review with outside resources, Advisors to ensure we have right mix to drive sales behaviours.
What opportunities are we focused on at tiptap:
What opportunities are we focused on at tiptap:
Continue to grow and develop our talent in key areas.
Recruitment Partners (NA & Global) and strategy for global team growth.
Payroll & Benefits planning for NA & Global growth.
and what's next - Greenfield
and what's next - Greenfield
What are we doing at tiptap:
What are we doing at tiptap:
new device manufacturing
regional expansion testing
new sector expansion efforts
what else do you want to see or hear in these meetings? OIL
Winter update (Feb)
April fiscal year-end update (May)
Mid year update (July)
Fall pre-IPO update (Sept)
investor updates page (ongoing)
social channels (ongoing)
What can you do to help us continue to grow tiptap:
What can you do to help us continue to grow tiptap:
GROWTH Help us grow with client or partner referrals and other ideas for growth.
TALENT Help us find the best talent in this tight market with referrals (sales & marketing, warehouse and operations).
SECTORS Help us with sector insights and expertise yourself or recommend partnerships to help us explore and grow in Sports, Transit, Venues, Arts & Culture and more...
REGIONS Help us with regional insights and expertise yourself or recommend partnerships to help us explore and decide where to best grow next. Is it the USA, UK, EU, Aust/NZ, South America or where else...
OTHER IDEAS Help us with other ideas and advice like deep functional expertise other models, growth opportunities etc... we are always open to ideas.
don't forget to follow & share our stories on social
don't forget to follow & share our stories on social
OIL means Opportiunities & Issues List... we want to hear what you have to say so we can continuously make things better
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