Mavenir Analyst Day - November 04, 2014

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Information about Mavenir Analyst Day - November 04, 2014
Investor Relations

Published on November 4, 2014

Author: investormavenirsystems

Source: slideshare.net

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Mavenir Analyst Day

1. Mavenir Analyst Day November 4, 2014 Transforming Mobile Networks

2. 2 Mavenir Analyst Day November 4, 2014 Today’sAgenda

3. 3 Mavenir Analyst Day November 4, 2014 Forward Looking Statements Statementsinthispresentationthatarenothistoricalfactareforward-lookingstatements. Someoftheforward-lookingstatementscontainedinthispresentationcanbeidentifiedbytheuseofforward-lookingwordssuchas“anticipate,”“believe,”“could,”“expect,”“should,” “plan,”“intend,”“estimate”and“potential,”amongothers.Forward-lookingstatementsinclude,butarenotlimitedto,statementsregardingourintent,belieforcurrentexpectationswithrespecttomatterssuchasfutureindustrytrends,capitalexpendituresbymobileserviceproviders,theadoptionof4GLTEtechnologybymobileserviceprovidersandusers,andourexpectedfinancialperformancesubsequenttoourmostrecentlyreleasedfinancialresults.Forward-lookingstatementsarebasedonourmanagement’sbeliefsandassumptionsandoninformationcurrentlyavailabletoourmanagement.Suchstatementsaresubjecttorisksanduncertainties,andactualresultsmaydiffermateriallyfromthoseexpressedorimpliedintheforward-lookingstatementsduetovariousfactors.InvestorsshouldreviewfactorsdescribedinourfilingswiththeU.S.SecuritiesandExchangeCommission,includingundertheheading“RiskFactors”insuchfilings.Forward-lookingstatementsspeakonlyasofthedatetheyaremade,andwedonotundertakeanyobligationtoupdatetheminlightofnewinformationorfuturedevelopmentsortoreleasepubliclyanyrevisionstothesestatementsinordertoreflectlatereventsorcircumstancesortoreflecttheoccurrenceofunanticipatedevents.

4. Mavenir Analyst Day November 4, 2014 Company Overview Pardeep Kohli President & CEO

5. 5 Mavenir Analyst Day November 4, 2014 Strong Execution Since IPO(Nov 7, 2013)     5th successive quarter exceeding top /bottom line guidance 2014 9 Mo. Revenue growth of 30% ($96.1M vs $74.1M) Increased investment in product development and trials Several new customer wins/expansions globally Multiple new product launches Significant VoLTE launches & announcements Strong Business and Financial Performance Since IPO  

6. 6 Mavenir Analyst Day November 4, 2014 Customers include 12 of top 20 operators globally; Top 4 US operators & 4 of top 5 in Europe First mover advantage with several world’s first commercial deployments of 4G LTE solutions Capitalizing on 2 key network trends: 4G All-IP and software- based cloud deployments 1050 employees 870 across eng/ops Founded in 2005 with a vision to lead the transformation to 4G LTE A leading provider of converged voice, video, messaging and mobile core network solutions Disruptive, virtualized software platform with >30 products Company Highlights $101M 2013 Rev 37% YoYGrowth 30% YoYGrowth $96.1M 9mo Rev

7. 7 Mavenir Analyst Day November 4, 2014 Company Milestones T-Mobile US IMS (E2E Provider & Strategic Partner) T-Mobile US SMS (SMS FDA Across US & APAC) AT&T / MetroPCS(Strategic 4G wins for VoLTE & RCS) DTAG & VF VoLTE (Strategic 4G wins & EMEA Beachheads EMEA Expansion (4G wins @ Tele2, MTS, DT Intl, others) APAC E2E 4G (Strategic Partner & APAC Beachhead) AirwideSolutions (EMEA & APAC Presence) ‘13 ‘09 ‘10 ‘11 ‘12 ‘08 ‘14 VoWiFi VoLTE RCS 5

8. 8 Mavenir Analyst Day November 4, 2014 mOne®Convergence Platform Multimedia Services Network Network Functions Virtualization (NFV) Open APIs mOne®Convergence Platform 500+ Staff Years Invested 30+ SW Products Fully Virtualized (NFV) Hardware Agnostic Commercially Proven

9. 9 Mavenir Analyst Day November 4, 2014 Mavenir 4G Solutions & Technology Best-in-Breed Wireless Applications & Services Fully Virtualized Software Product Portfolio High Performance Media Handling Architecture 1 2 3 Session Control Session Border Controller Voice & Video IMS-PBX IMS Core Network IMS Centralized Services GW Rich Message Server Presence Server Telephony Server Mobility Management Entity SAE Gateways Evolved Packet Core Network Evolved Packet Data Gateway Optimized E2E LTE Architecture for Voice (R4) 4 Enhanced Messaging Access Network Cable LTE Wi-Fi Fixed OSS OSS/BSS Billing NMS SLA CRM

10. 10 Mavenir Analyst Day November 4, 2014 IMS-PBX Rationale ( VoLTE+) Typical UC Offering: •Internet Phone Call •Fixed IP Phones •Features like call Fwd. conference, transfer, private dialing plan •Instant Messaging •Presence (availability) •Fax over IP •Web , Advanced Audio & Video Conferencing Typical VoLTEOffering: •IP based Phone Call •Features like call Fwd. conference •Instant Messaging •Presence (availability) •Video Conferencing

11. 11 Mavenir Analyst Day November 4, 2014 Mavenir Customer Highlights VoLTE 14 RCS 15 CORE 22 Growing Roster of Blue Chip 4G Customers •Top 4operators in the US; 3 of top 4 operators in Europe Diversified 4G Customer Base •Geographically diverse, as well across product lines Strong 2G/3G Customer Base •12 of top 20 operators globally 2G/3G/4G 120+ Based on Mavenir 2Q2014 data

12. 12 Mavenir Analyst Day November 4, 2014 Mavenir 4G Customer Launches Mavenir 4G solutions are proven in commercial networks across US and European markets carrying live traffic RCS Launched March 2013 VoWiFi Launched July 2014 1 DRA Launched June 2014 Tier One European MNO VoLTE Launched May 2014 VoLTE SMS over IMS Launched May 2014 3 4 5 2

13. 13 Mavenir Analyst Day November 4, 2014 MavenirCustomers’ 4G LTE Subscriber Base 35% CAGR 396M 4G LTE subscriber penetration in 2013 is 90M (9% of 1,035M total) 4G LTE subscriber growth through 2018 projected at 35% CAGR 2018 1,170M 90M 2013 1,035M 4G LTE subscriber penetration for 2018 is 396M (34% of 1,170M total) (1) Represents total subscribers with Mavenir’scurrent customers. Source: GSMA –October 2014. Total Subscribers (1): 124M 2Q2014 1,014M <5% VoLTE

14. 14 Mavenir Analyst Day November 4, 2014 4G LTE Progress Operators globally 1000+ 743invested in LTE <5% 395launched Connections on LTE Source: GSMA, Oct. 2014

15. 15 Mavenir Analyst Day November 4, 2014 Speed up to 15xfaster Services more revenue Savings less cost Spectrum up to 10xbetter Why 4G LTE is a Necessity

16. 16 Mavenir Analyst Day November 4, 2014 Phase 1 Phase 2 4G LTE High SpeedData 2G/3G Circuit Switched Voice 4G LTE Better Voice High Speed Data Rich, New Services First Phase of LTE is “Data Only”… Two Networksfor Voice & Data Next Phase of LTE is “Unified”… One Networkfor Voice and Data Reallocate Spectrum from 2G/3G to spectrally efficient 4G LTE 4G LTE Network Evolution Phases

17. 17 Mavenir Analyst Day November 4, 2014 Transition to All-IP Launch Voice over LTE Launch 4G LTE Data Coverage Capacity Launch New Services Global 4G LTE CAPEX Source: Gartner -September 2014. 2018 $9.3B $34.3B 2013 30% CAGR

18. 18 Mavenir Analyst Day November 4, 2014 Software Based Transition to Software Networks 2G/3G 4G LTE Hardware Based INTEGRATED SOFTWARE ON SPECIALIZED HARDWARE VIRTUALIZED SOFTWARE ON GENERAL PURPOSE HARDWARE

19. 19 Mavenir Analyst Day November 4, 2014 2014 Awards and Recognition IMS World Forum Global Telecoms Innovation LTE World MTBC Emerging Company CEO Best RCS Best IMS Core Network Best VoLTEInnovationNFV Innovation of the year PardeepKohli NFV Innovation of the year LTE Asia IMS World Forum Best WebRTCPlatform; Best VoLTEProduct; Most Innovative IMS Service Launch Network Virtualization Industry Awards Light Reading Leading Lights CTIA Emerging Technology NFV Innovation of the year Company of the Year (Public) Mobile Cloud Client and VideoMail

20. 20 Mavenir Analyst Day November 4, 2014 MavenirTAM Sources: Dell Oro, Infonetics, Markets & Markets and Mavenir Forecast (in Millions) 2014 2015 2016 2017 2018 Evolved Packet Core DSC 427 724 1,067 1,427 1,809 MME 1,127 1,113 1,087 1,060 1,037 PGW (Includes SGW) 1,131 1,458 1,717 1,899 2,070 PCRF 380 843 985 1,082 1,171 Subtotal 3,065 4,138 4,856 5,468 6,087 IP Multimedia Subsystem HSS 558 777 834 888 915 CSCF 943 1,006 1,078 1,166 1,222 SBC 836 925 1,022 1,126 1,245 VAS 435 610 688 758 836 RCS 225 358 589 1,005 1,782 PBX/UC 1,867 2,153 2,460 2,770 3,076 Subtotal 4,864 5,829 6,671 7,713 9,076 Total 7,929 9,967 11,527 13,181 15,163

21. 21 Mavenir Analyst Day November 4, 2014 Competitive Landscape End to End (proprietary H/W) Point S/W-based Solutions Complete S/W Portfolio

22. 22 Mavenir Analyst Day November 4, 2014 Progress on 2014 Objectives Focus on increasing our direct sales Enter the data networking space 1 2 Leverage our product portfolio 3 Target adjacent markets 4

23. 23 Mavenir Analyst Day November 4, 2014 Highly Diversified Revenue Profile Increasing Direct revenue •Leveraging brand recognition •Improving profitability

24. 24 Mavenir Analyst Day November 4, 2014 Q3 to Date 2013 vs 2014 Revenue $5.2 $16.2 $52.7 $9.2 $30.4 $56.4 $0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 New Customers New Products toExisting Customers Existing Products toExisting Customers YTD Q3 Revenue 2013 2014 7% 22% 71% Q3 2013 to Date New Customers New Products to Existing Customers Existing Products to Existing Customers 9% 32% 59% Q3 2014 to Date New Customers New Products to Existing Customers Existing Products to Existing Customers

25. 25 Mavenir Analyst Day November 4, 2014 New Investments in Growth Drivers Next Generation Products SBC and EPC markets are being disrupted by mobile operator requirements for Next Generation products SBC EPC Wireless Scale Cloud NFV/SDN Software Real-time (VoLTE)

26. 26 Mavenir Analyst Day November 4, 2014 Service Provider Broadband Trends Cable Mobile Service provider broadband strategies driving towards converged networks to deliver content and services

27. 27 Mavenir Analyst Day November 4, 2014 Addressing Interoperability and Security Markets Policy Control EPC-RAN Border SGW SEG EPC Core PGW ePDG IMS Core Core SBC PCRF DRA Carrier Networks “Verizon and AT&T Move Toward Voice over LTE (VoLTE) Interoperability” Carrier Networks “Working with other providers to expand interoperability across the industry” Nov 3, 2014

28. 28 Mavenir Analyst Day November 4, 2014 Reasons Why We Win Flexibility Innovation Technology Experience •Customer First attitude •Adapting products to existing networks •Lower Total Cost of Ownership •Accelerate Time To Market •Disruptive SW platform •Best-in-breed wireless applications •First Mover Advantage •Passionate and knowledgeable workforce Vision •Mobile network transformation •Evolution to the cloud

29. Mavenir Analyst Day November 4, 2014 Financials Terry Hungle CFO

30. 30 Mavenir Analyst Day November 4, 2014 Investment Highlights 1,050 employees, 868 across engineering/operations Visionary company –leading the transformation to 4G Blue chip customer base with 3 of top 4 US, 12 of top 20 globally Proven leadership team consisting of industry pioneers Growth at scale:$101M 2013 Revenue; +37% Y/Y $96M YTD 3Q14 Revenue; +30% Y/Y Attractive financial model with significant operating leverage Note: Data as of September 30, 2014.

31. 31 Mavenir Analyst Day November 4, 2014 Typical Deployment Model Svcs Hw Svcs Hw Sw Lab Deployment Initial Production Deployment Capacity Expansion NETWORKS REVENUE Svcs Hw Sw INCREASING MIX OF SOFTWARE TO DRIVE MARGINS

32. 32 Mavenir Analyst Day November 4, 2014 Focus in 2014 •Drive Revenue Growth •Increase Direct Sales •Enter Packet Core Market, Gain SBC Market Share •Lever Portfolio with Existing Customers •Expand into Adjacent Markets Grow Revenue and Target Addressable Market

33. 33 Mavenir Analyst Day November 4, 2014 YTD 3Q14 and YTD 3Q13 Results 9 Months9 Months20132014TrendRevenue$74M$96M↑30% Next Gen Revenue$49M$78M↑61% Direct Revenue$33M$65M↑68% Gross Margin55.2%55.8%↑60bpsOperating Expenses$46.4M$60.7M↑31% EPS($0.34)($0.11)↑68% Net Cash Used in Operating ActvitiesHeadcount7491,050↑40% ($17M)($13M)↑$4M

34. 34 Mavenir Analyst Day November 4, 2014 Highly Diversified Revenue Profile

35. 35 Mavenir Analyst Day November 4, 2014 Product Groupings Telephony Application Server (VoIP, VoWi-Fi) Circuit Switched Fall Back IMS Core –Call Session Control Function Single Radio Voice Call Continuity Session Border Controller WebRTC $66M YTD Q3 2014 Revenue Voice and Video Enhanced Messaging RCS Presence mStore™ MMSC 2G/3G Messaging $30M YTD Q3 2014 Revenue

36. 36 Mavenir Analyst Day November 4, 2014 Q3 to Date 2013 vs 2014 Revenue $5.2 $16.2 $52.7 $9.2 $30.4 $56.4 $0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 New Customers New Products toExisting Customers Existing Products toExisting Customers YTD Q3 Revenue 2013 2014 7% 22% 71% Q3 2013 to Date New Customers New Products to Existing Customers Existing Products to Existing Customers 9% 32% 59% Q3 2014 to Date New Customers New Products to Existing Customers Existing Products to Existing Customers

37. Mavenir Analyst Day November 4, 2014 37 Historical Revenue Growth $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 Historical Revenue Growth by Category Next Gen Revenue ToLteagla Rcey vReenvueenue

38. Mavenir Analyst Day November 4, 2014 38 2013-2014 Metrics (Non-GAAP) US$ Millions ($0.20) ($0.15) ($0.10) ($0.05) $0.00 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 EPS $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 Revenue 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 Gross Margin % 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 OpEx %

39. Mavenir Analyst Day November 4, 2014 39 Balance Sheet Trends $16.9 $23.6 $18.0 $29.7 $33.8 $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 3Q13 4Q13 1Q14 2Q14 3Q14 Accounts Receivable $8.7 $11.2 $16.6 $13.4 $14.9 $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 $18.0 3Q13 4Q13 1Q14 2Q14 3Q14 Unbilled Revenue 63 90 56 80 90 - 10 20 30 40 50 60 70 80 90 100 3Q13 4Q13 1Q14 2Q14 3Q14 Days Sales Outstanding $9.4 $15.8 $12.7 $11.4 $11.6 $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 $18.0 3Q13 4Q13 1Q14 2Q14 3Q14 Deferred Revenue US$ Millions

40. 40 Mavenir Analyst Day November 4, 2014 Long Term Financial Goals (Guidance Range) Q1/14 Q2/14 Q3/14 Guide Range Q4/14 Guide Range 2014 Long Term GrossProfit Margin % 57% 57% 54% 59%-63% 57%-58% 69-73% Research& Dev’t% 19% 20% 21% 17-19% Sales & Marketing % 24% 24% 23% 21-23% General & Admin % 15% 13% 13% 8-10% Operating Expense% 58% 57% 57% 61%-62% 58%-59% 46-50% OperatingIncome % (1%) 0% (3%) (4%)-1% (1%) 21-25% All amounts are presented on a non-GAAP basis. A reconciliation to the relevant GAAP amounts is provided in the Appendix. These objectives are forward-looking, are subject to significant business, economic, regulatory and competitive uncertainties and contingencies, many of which are beyond the control of Mavenirand its management, and are based upon assumptions with respect to future decisions, which are subject to change. Actual results will vary and those variations may be material. For discussion of some of the important factors that could cause these variations, please consult the “Risk Factors” section of the preliminary prospectus. Nothing in this presentation should be regarded as a representation by any person that these goals will be achieved and Mavenirundertakes no duty to update its goals.

41. 41 Mavenir Analyst Day November 4, 2014 2015 Directions •2015 is expected to be a year of solid growth •Strengthening gross margin performance driven by software component in the revenue mix •Leverage Opex –slow growth of the opex investments •Higher gross margins + Opex leverage leads to profitability On track -driving towards longer term business model

42. Mavenir Analyst Day November 4, 2014 Break

43. Mavenir Analyst Day November 4, 2014 Market & Solutions Ian Maclean VP, Strategy

44. 44 Mavenir Analyst Day November 4, 2014 Capitalizing on 2 Major Trends Investing in New Growth Drivers Market Update Technology Overview MajorTrends & Growth Drivers 1.Transition to All-IP …VoLTE & What’s Beyond VoLTE 2.Transition to Software Networks …NFV/SDN 3.IMS-PBX …Addressing the SP Micro/SMB Market Segment 4.sEPC…Leveraging SDN Concepts for a Smarter Data Network 5.vSBC…Leveraging Disruptive SW Platform for Next Gen SBC

45. Mavenir Analyst Day November 4, 2014 Capitalizing on Two Major Trends Transition to All-IP …VoLTE & What’s Beyond VoLTE

46. 46 Mavenir Analyst Day November 4, 2014 VoLTE Market Status –Launched in Key Markets Launches Planned Operators Launched Operators Trialing Devices Available 2014 2015 11 32 18 94 2H 2014 Source: GSMA, GSA -September 2014.

47. 47 Mavenir Analyst Day November 4, 2014 VoLTE Market Forecast –Rapid Growth 59.6m VoLTEsubscriptions in 2014 1200m VoLTEsubscriptions in 2019 Source: ABI Research June 2014 82% CAGR

48. 48 Mavenir Analyst Day November 4, 2014 Mavenir’sMarket Leading VoLTE Solution Mavenir’s VoLTE solution is the market leading solution chosen by early adopters & large tier one mobile operators globally Telephony Application Server (TAS) 100% Service Parity •Backwards Compatible to existing services mOne® Software Platform •Virtualized, Common across IMS/EPC Converged Voice Solution for Multiple Market Segments •VoLTE/VoWi-Fi, Fixed, Enterprise Service Innovations •Multidevice, Multiline, OTT UX World’s First Converged Virtualized Wi-Fi Calling Innovative

49. 49 Mavenir Analyst Day November 4, 2014 Launched May 22nd2014 Launched Nov 2011 Nationwide 100% Launched Sept 17th2014 Planned 2015 Nationwide Limited2 Launched May 23rd2014 Planned 2015 Regional Upper Midwest Limited1 RCS TelePresence Not Disclosed Uncarrier Advanced Calling HD Voice VoLTE Brand Availability Compatibility VoWi-Fi What’s Next? VoLTEin US

50. 50 Mavenir Analyst Day November 4, 2014 Service Transformation: Voice over LTE & Wi-Fi EPC IMS Devices Same Reliability as 2G/3G Better Voice Service with 4G Network Modernization (IP) All-IP Platform (IMS) VoLTE Drivers & Benefits VoWi-Fi Drivers & Benefits Same IP Coverage as OTT Better Mobility than OTT Different User Expthan OTT

51. 51 Mavenir Analyst Day November 4, 2014 EPC IMS Devices Cloud Store Identity Mgmt. Internet RCS Service Transformation: RCS & Multi-Device RCS & Multi-Device Drivers & Benefits LTE Device Ecosystem User Experience & Demand OTT/Apple UX Service Extensions -RCS Single Mobile Identity Interoperable Ecosystem

52. 52 Mavenir Analyst Day November 4, 2014 Beyond VoLTE: Untethered Network Mobile Consumer Devices Markets Fixed / Cable Enterprise FMC IMS-PBX VoLTE RCS Residential Voice Hosted PBX / UC

53. Mavenir Analyst Day November 4, 2014 Technology Overview Terry McCabe CTO

54. 54 Mavenir Analyst Day November 4, 2014 Demonstration: Adding PBX / UC Features to the IMS network Mobile Network Oriented to consumer service Mavenir IMS-PBX Incremental approach Cost Reduced by delivering services to niche markets from common core Complexity Minimized replication of service elements between consumer and enterprise Functionality Brought enterprise applicability to rich media communication Presence AS EPC Messaging AS Telephony AS IMS Core EPC Presence Messaging Conferencing Cloud Storage Attendant UC Telephony Multi-Line IMS Core Multi- Device WebRTC

55. Mavenir Analyst Day November 4, 2014 55 Enterprise Demo Participants Cellphone Tablet Amy Smith Cellphone Desk Phone Carlos Sanchez Cellphone Desk Phone Raj Verma

56. 56 Mavenir Analyst Day November 4, 2014 Scenario: Extension Dialing 1) Raj dials Carlos’ extension (102) from his cellphone •All of Carlos’ devices ring 2) Raj dials Carlos’ extension (102) from his desk phone •All of Carlos’ devices ring 3) Customer dials Amy’s business number (9725550101) from any telephone •All of Amy’s devices ring Consistent experience across all devices

57. 57 Mavenir Analyst Day November 4, 2014 Scenario: Audio Conferencing 1) Raj messages Audio conferencing information (conference bridge: 9725550001 passcode: 5257#) to Amy •Amy Smith receives the message on all her devices 2) Amy joins the conference from her cellphone 3) Raj opens conference bridge from his desk phone 4) Raj invites Carlos to join the conference from within the bridge Flexible On-demand Conferencing from Within Hosted Enterprise Environment

58. 58 Mavenir Analyst Day November 4, 2014 Scenario: Auto Attendant 1) A Customer dials Enterprise number (972) 555-0000 •The customer is greeted by Auto Attendant. “ …If you know your party’s extension dial it now, to dial by name enter 999”” 2) The Customer selects dial by name •Prompted “Dial the Last Name first 3 letters of the person you are trying to reach” 3) The Customer wants to reach Carlos so they dial “SAN” •All of Carlos Sanchez’s devices ring Consistent experience across all devices

59. 59 Mavenir Analyst Day November 4, 2014 2/3Scenario: In-call sharing and Wi-Fi calling 1) Raj calls Amy and shares his location •Using RCS in-call sharing 2) Amy says she is already there and shows a picture •Prompted “Dial the Last Name first 3 letters of the person you are trying to reach” 3) T-Mobile Wi-Fi Calling on iOS •Seamless experience on iPhone devices 4) 3UK ThreeeinTouchWi-Fi Calling for coverage extension •Downloaded experience on any device Leveraging the investment in Rich Communications and Wi-Fi deployment

60. 60 Mavenir Analyst Day November 4, 2014 VoWi-Fi Case Studies http://youtu.be/UhpkFybIpWM http://youtu.be/nxK7ikDKGPc

61. Mavenir Analyst Day November 4, 2014 Capitalizing on Two Major Trends Transition to Software Networks …NFV/SDN

62. 62 Mavenir Analyst Day November 4, 2014 Key Elements of Software Networks NFV Network Functions Virtualization SDN Software Defined Networking Revolutionizes the Data Network Revolutionizes the Data Center Changes the cost equation Smarter and easier to manage network

63. 63 Mavenir Analyst Day November 4, 2014 How NFV is Changing the Game “Virtualization allows IT systems to function with fewer pieces of hardware…less- specialized and cheaper variety. “These capabilities lead to a 70% reduction in costs,” Marian Croak, AT&T’s SVP for Domain 2.0,told CIO Journal. Deployment Flexibility Elasticity Service Agility Scalability Source: CIO Journal May2014

64. 64 Mavenir Analyst Day November 4, 2014 Mavenir’sLeadership in Virtualization Mavenir is leading the industry in making virtualization a reality Mavenir provides a fully virtualized end-to-end mobile core network product portfolio enabling a broad suite of 4G LTE voice, video, rich communications and data services Products In virtualized IMS & EPC product portfolio Over30 Customers For virtualized VoLTE & RCS solutions 14Tier 1 Awards Virtualized IMS platform NFV Innovation of the year Ecosystem Open approach to virtualization partners

65. Mavenir Analyst Day November 4, 2014 Investing in New Growth Drivers IMS-PBX …Addressing the SP Micro/SMB Market Segment

66. 66 Mavenir Analyst Day November 4, 2014 Enterprise Services Landscape SOHO / Micro / SMB Large Enterprises 10% •BUSINESS MOBILITY •BYOD Market Segments 90% Device Ecosystem Major Trends Service Providers Large Operators Cloud Telephony

67. 67 Mavenir Analyst Day November 4, 2014 Solution Targeting SMB Productivity & Mobility Personal# Personal Work Family 2.5G 3G 4G Work# Family# Multi-Lines Handling Personas Multi-Device Extending Reach Integrated UC for Collaboration Custom Service Personalization

68. 68 Mavenir Analyst Day November 4, 2014 All-In-One UC Multipoint / Multimedia Communication Collaboration IMS Reuse IMS-As-A-Platform Standards-based Open Contextual Business & Social SOHO/Micro/SMB Work/Family/Community Connected BYOD, Personas Service Mobility Smart Devices IMS-PBX IMS-PBX: Integrated Business/Social Communication

69. 69 Mavenir Analyst Day November 4, 2014 Operator Network Transformation CS Voice + Text Hosted PBX + UC MNO Consumer Business Native VoLTE RCS All-IP Voice + Text IMS-PBX CONVERGENCE OTT NATIVE

70. Mavenir Analyst Day November 4, 2014 Investing in New Growth Drivers EPC: Leveraging SDN Concepts for a Smarter Data Network

71. 71 Mavenir Analyst Day November 4, 2014 Mobile Data Traffic is Exploding Source: Cisco VNI June 2014 Over 50% of all IP traffic will originate with non-PC devices IP video will be 79% of all IP traffic up from 66 percent in 2013. Globally, mobile data traffic will increase 11x from 2013 There will be nearly as many M2M connections as there are people on earth. 2018

72. 72 Mavenir Analyst Day November 4, 2014 EPC Market Dynamics Driving Change Internet Browsing Streaming Video Non–RealtimeQOS Central IP PoP Hierarchical HW-Based Box/Monolithic 3GPP Standard Architecture Functionality Deployments Voice, Data, Video M2M Peer To Peer RealtimeQOS NFV/SDN Distributed SW-Based Cloud/Flexible Modular/Distributed Current Requirements Internet Access New Requirements Operator Services

73. 73 Mavenir Analyst Day November 4, 2014 Traditional Incumbents Point Solutions Traditional Incumbents EPC Competitive Landscape Traditional Incumbents 2G/3G (GPRS) Few Devices Low Throughput 4G (LTE) Many Devices Higher Throughput NFV/SDN Many Devices Higher Throughput Wireless 4G Pure Play When ? NFV/SDN Disrupts EPC Market

74. 74 Mavenir Analyst Day November 4, 2014 Mavenir’s Virtualized SDN EPC Software Fully Virtualized Infinitely Scalable Hardware Agnostic Architecture Modular/ Distributed Separated Signaling/ Media Multi-Access VoLTE/VoWiFI M2M Device Management Optimized Unique One Touch Local Caching sEPC

75. 75 Mavenir Analyst Day November 4, 2014 Mavenir’s SDN EPC Architecture Media Region 1 Media Region N … Signaling Data Center 1 Reduced HW Footprint Reduced Backhaul Simplified Management One Touch Media Plane Centralized Distributed Improved Latency Leveraging SDN Principles to Improve Network Efficiency

76. 76 Mavenir Analyst Day November 4, 2014 Mavenir’s SDN EPC Benefits Mavenir’s unique architecture addresses the “data deluge problem” by handling media at the network edge Optimized network design provides differentiated capabilities and compelling benefits Optimized Video with Local Data Caching Redefining LTE architectures for Voice 1 2 Improved Software Performance to Lower TCO 3

77. Mavenir Analyst Day November 4, 2014 Investing in New Growth Drivers SBC: Leveraging Disruptive SW Platform for Next Gen SBC

78. 78 Mavenir Analyst Day November 4, 2014 SBC Market Dynamics Driving Change VoIP Mature Robust Enterprise IP Interconnect Wireline HW-Based Box/Monolithic Rigid Architecture Functionality Deployments Scale VoLTE/RCS 3GPP (Wireless) Wireless Access NFV/SDN SW-Based Cloud/Flexible Modular/Distributed Current Requirements Wireline/Enterprise New Requirements Wireless/Consumer

79. 79 Mavenir Analyst Day November 4, 2014 Wireless 4G Pure Play Point Solutions Point Solutions Traditional Incumbents Point Solutions Traditional Incumbents Wireless 4G Disrupts SBC Market Fixed/Enterprise Wireless 2G/3G Wireless 4G SBC Competitive Landscape Who ?

80. 80 Mavenir Analyst Day November 4, 2014 SBC Global Market 0 300 600 900 1200 1500 1800 2013 2014 2015 2016 2017 2018 Wireline SP Enterprise Wireless SP Source: Dell’OroGroup -July 2014 US$M $1.6Bn Wireless CAGR: 28%

81. 81 Mavenir Analyst Day November 4, 2014 Session Border Controller (SBC) Software Fully Virtualized Functionally Robust Security/ Signaling Rich Architecture Modular/ Distributed Separated Signaling/ Media Hardware Agnostic Wireless VoLTE/RCS Functions 3GPP Compliant Experience End-to-End Wireless Wireless 4G Deployments SBC

82. 82 Mavenir Analyst Day November 4, 2014 Mavenir’sPresence in Session Border Controller Mavenir has already established itself with its virtualized SBC with 14 deployments in 7 networks globally Proven in large scale networks across several types of deployment models I-SBC Interconnect A-SBC VoLTE, RCS I-SBC IPX, IMS Hub WebRTCGateway 5 4 1 4

83. Mavenir Analyst Day November 4, 2014 Thank You

84. Mavenir Analyst Day November 4, 2014 Q & A

85. Mavenir Analyst Day November 4, 2014 Transforming Mobile Networks Appendix

86. 86 Mavenir Analyst Day November 4, 2014 Long-Term Financial Goals(GAAP to Non-GAAP Reconciliation) GAAP Non-GAAP GrossProfit Margin % 68-72% 69-73% Research &Development % 18-20% 17-19% Sales & Marketing % 22-24% 21-23% General& Admin % 8-10% 8-10% OperatingIncome % 18-22% 21-25%

87. 87 Mavenir Analyst Day November 4, 2014 Q3 2014 Results(Non-GAAP Net Loss Reconciliation) *(Note: 000’s USD except share and per share data) Three Months Ended30-Sep-14Total Revenue$34,052Gross Profit (GAAP)$17,982 Amortization and Depreciation279 Stock Based Compensation221Gross Profit (Non-GAAP)$18,482Operating Income (GAAP)($3,837) Amortization and Depreciation1,336 Stock Based Compensation1,357Operating Income (Non-GAAP)($1,144) Net Interest$404Pre-Tax Income($1,548) Income Taxes (GAAP)($657) Adjustment for Uncertain Tax Provisions(102) Net Loss (Non-GAAP)($789) Adjusted weighted average common shares outstanding27,392,000Non-GAAP Net Loss Per Share($0.03)

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Gage-Cannon helps ventures accelerate organic growth or obtain equity funding, and...

Foro MAB Sevilla 13 de noviembre de 2014

ING Q3 2014 Earnings Report

ING Q3 2014 Earnings Report

November 5, 2014

Analyst presentation third quarter 2014 results. ING posts 3Q14 underlying net pro...

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