FINANCIAL CLOUD

COMPANY
OVERVIEW
May 2015

FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or
Yodlee's future financial or operating performance. Forward-looking statements in this presentation include, but are not
limited to, Yodlee's number of paid users, the size of Yodlees potential market, the acceleration of Yodlees subscription
revenue growth and profitability, Yodlees customer and user growth and Yodlees incremental revenue opportunities with
data and FinApps. Yodlee's expectations and beliefs regarding these matters may not materialize, and actual results in
future periods are subject to risks and uncertainties that could cause actual results to differ materially from those
projected in the forward looking statements. These risks include the possibility that: Yodlee's paid user base does not
continue to grow; Yodlee is unable to secure new subscriptions and deployments of the Yodlee platform by new
customers; existing customers fail to renew subscriptions or do not generate additional paid users and sources of
revenue; Yodlee is unable to derive revenue from data solutions, market research services and/or revenue-sharing
arrangements with partners who develop premium FinApps; and Yodlee experiences expenses that exceed its
expectations. The forward-looking statements contained in this presentation are also subject to other risks and
uncertainties, including those more fully described under the captions "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations," in Yodlee's filings with the Securities and Exchange
Commission ("SEC"). Yodlee's SEC filings are available on the Investor Relations section of the Company's website at
http://ir.yodlee.com and on the SEC's website at www.sec.gov. The forward-looking statements in this presentation are
based on information available to Yodlee as of the date hereof, and Yodlee disclaims any obligation to update any
forward-looking statements, except as required by law.

2015 YODLEE. CONFIDENTIAL

COMPANY OVERVIEW
Anil Arora, Chairman & CEO

2015 YODLEE. CONFIDENTIAL

KEY INVESTMENT HIGHLIGHTS

Massive Transformation Opportunity

Powering Innovation with FIs and Internet players

One of the
LargestPlatform
SaaS User
Platforms
Leading
Financial
in the
Cloud
with 20M+ users across 850+ customers/partners

Unique Financial Platform with

Significant Competitive Advantages

Attractive Financial Model in Large Market with

Accelerating Growth & Increasing Profitability
Profitability*
*Profitable as measured on a LTM non-GAAP EBITDA basis

2015 YODLEE. CONFIDENTIAL

A FRAGMENTED FINANCIAL INDUSTRY

THE CHALLENGE

100,000s

Cash
Credit

of financial products

Banking
Taxes

1000s
of financial institutions
Retirement
Investments

1000s
of Internet innovators

2015 YODLEE. CONFIDENTIAL

YODLEE PLATFORM CONNECTS THE DIGITAL ECOSYSTEM

THE INDUSTRY STANDARD

Internet
Innovators

2015 YODLEE. CONFIDENTIAL

Financial
Institutions

YODLEE DRIVING DISRUPTIVE TRANSFORMATION

Infrastructure
Cost

Embracing
the Cloud

Speed of
Innovation

Open Platform
and Developer
Communities

Segmentation,
Personalization

Apps &
Big Data

Mobility

Anytime,
Anywhere
Access

Internet Innovators
2015 YODLEE. CONFIDENTIAL

WIN-WIN FOR USERS AND CUSTOMERS

OUR SOLUTION
End Users
Convenience
Insight & Control
Best Experience
Higher Satisfaction

Investments

Banking

Cash
Credit

Our Customers
Faster Innovation
Increased Retention
Reduced Costs
New Revenue

2015 YODLEE. CONFIDENTIAL

Retirement

Taxes

ONE OF THE LARGEST SAAS USER PLATFORMS

20.0M
paid
users

20

Paid users (in millions)

18
16
14

Inflection Point

Shift to Platform
Internet Innovators
Data & FinApp Solutions

>2X
9.7M
paid
users

12
10
8
6
4
2

PRODUCT

Mar 2012
2015 YODLEE. CONFIDENTIAL

PLATFORM

Mar 2015
9

IMPRESSIVE CUSTOMER BASE ACROSS

ENTIRE ECOSYSTEM

Credit &
Risk

Internet
Innovators

Financial
&
Wealth
Mgmt
eCommerce
& Payments

2015 YODLEE. CONFIDENTIAL

Large
N.A. FIs

Global
FIs

Financial
Institutions

Brokerages

10

UNIQUE YODLEE PLATFORM ENABLES MULTIPLE USE-CASES

Industry Solutions
Retail
Banking

Small
Business

Wealth
Management

Product Solutions
Personal
Financial
Management

Money
Movement

Risk
Management

APIs

Mobile
Solutions

Data
Solutions

FinApp Ecosystem
APIs
Data

Data

CORE PLATFORM
14,000

66

data sources

patents issued

Data Aggregation

Security

Money Movement

Cloud Infrastructure
Massively scaled, multi-tenant architecture
2015 YODLEE. CONFIDENTIAL

11

AND POWERS SIGNIFICANT BIG DATA SOLUTIONS TODAY

Unique &
scaled data
Marketing
Insights
Customers
Risk Analytics

Billions of
transactions

DATA
ANALYTICS
10101011
01101010
10001011
01111110
11100010

RESEARCH

Network
Wide
(anonymized)

Research
Vertical
Insights

User permissioned

2015 YODLEE. CONFIDENTIAL

12

SIGNIFICANT PENETRATION WITH LAND & EXPAND

Case Study:

35%

A Top 10 U.S. Financial Institution

penetration

2.1M Users

2.4M Users

1.7M Users
1.1M Users
.65M Users

2010

2011

2012

2013

2014

PFM

+ MOBILE

+ HOME PAGE
INTEGRATION

+ SEGMENTATION
WITH FINAPPS

+ DATA

2015 YODLEE. CONFIDENTIAL

13

EARLY INNINGS OF A LARGE AND GROWING

ADDRESSABLE MARKET OPPORTUNITY
2B+
Potential Users from
Existing and Targeted
Customers1,2,3

<1% penetration

~1B
Potential Users from
Existing Customers1,3

~2% penetration
~12% FIs

20.0M
Paid Users1

1 Includes

non-unique users
Reflects Yodlee Interactive business development
3 Includes users of websites, ecommerce, and online financial services that we believe have the potential to become paid users of existing and targeted customers.
Based on publicly-available information. Not limited to existing users of financial management, planning, or payments solutions.

2015 YODLEE. CONFIDENTIAL

14

MULTIPLE VECTORS FOR LONG-TERM GROWTH

GROW NUMBER OF USERS

Expand End User

Usage with
Existing
Customers

Grow Number
of Customers

Increase Global
Market Presence

GROW REVENUE PER USER

Big Data
Solutions

FinApps
Revenue Share

Marketing Insights

Expand strategic
FinApp
partnerships

Vertical Insights

Mobile, FinApps,
Home Page
Integration,
Segmented
Experiences

2015 YODLEE. CONFIDENTIAL

Rapidly expanding
Internet services
companies

Establish deeper
presence in
Asia Pacific,
EMEA, Latin
America

Risk Analytics
Research

Large untapped FI
market

15

YODLEE IS UNIQUELY POSITIONED

KEY DECISION
DRIVERS

YODLEE

WHY WE WIN

Data Network

14,000 data sources, with

75%+ direct connectivity

Innovation & Apps

Unique ecosystem with

hundreds of FinApps

Cloud Platform

Platform vs. point solutions;

SaaS vs. enterprise

COMPETITORS

Internal IT
Scale

Extensive distribution &

user scale

Security

Proven & trusted

partner

2015 YODLEE. CONFIDENTIAL

PFM Start-Ups

16

EXPERIENCED & INNOVATIVE MANAGEMENT TEAM

Management Team with Collective Yodlee Tenure of Over 65 Years

Anil Arora

Mike Armsby

Chairman, President
& CEO

Chief Financial
Officer

David Lee

Tim OBrien

Chief Marketing
Officer

Operations
& Information Security

Bill Parsons

Thomas Hempel

Chief Customer
Officer

Engineering

Arun Anur

Joe Polverari

Services

Chief Strategy
& Development Officer

Arjun Singh

Eric Connors

Chris Chen

Jason OShaughnessy

India Operations

Products

YI Americas

YI International

EXPERIENCE

AWARDS
FinovateFall 2013
Best of Show
Tandem App

Monarch Innovation
Award 2013

Finovate Asia 2013

Best of Show
Tandem App

Fast Company
Most Innovative
Companies 2011

AlwaysOn Top 250

Private Companies
2013

2015 YODLEE. CONFIDENTIAL

2x Winner (2009-2010)

17

FINANCIAL OVERVIEW
Mike Armsby, CFO

2015 YODLEE. CONFIDENTIAL

18

ATTRACTIVE CLOUD MODEL AND

ASSOCIATED ECONOMIC ATTRIBUTES

Growing

Recurring

Scalable

Profitable*

Accelerating subscription*
revenue growth

High visibility and

predictability

SaaS model with one

common platform

Positive LTM Adjusted

EBITDA of $5.3mm*

Robust customer and

user growth

88% subscription revenue

Efficient India cloud

based operations

Expanding subscription
gross margins at 68%*

Strong operating
leverage

Fuel to invest in growth

Data & FinApp

incremental revenue
opportunities

Strong retention &

growth from customer
base

*Based on non-GAAP metrics; Q1 2015 for subscription gross margin and revenue percentage
2015 YODLEE. CONFIDENTIAL

19

SUBSCRIPTION REVENUE GROWTH*

Acceleration over the last 3 years

Growing

45

38%

40

34%

Year Over Year Growth*

35

28%

30

34%

33%**
28%
24%

33%

33%**

3%

3%

29%

Q4 2014

Q1 2015

$25

$25

27%

25

20%
20

15

10

TOTAL REVENUE

FY2012

FY2013

$58

$70

2015 YODLEE. CONFIDENTIAL

FY2014

$89

Q1 2013

$15

Q2 2013

Q3 2013

Q4 2013

$16

$18

$20

Q1 2014

*Quarterly growth rates measured against the corresponding quarter in the prior year
**Pro forma for contract revenue recognition adjustment

$20

Q2 2014

$21

Q3 2014

$23

20

STRONG RETENTION & GROWTH FROM

EXISTING CUSTOMERS

Recurring

130

123%

124%

SRRR*

120

115%

Expected
baseline

114%

110

100

2011
% SUBSCRIPTION
REVENUE*

68%

2012

2013

2014

77%

81%

85 %

*Note: SRRR = Annual subscription and support revenue net retention rate for a particular year and is calculated by dividing current year
subscription and support revenue by the prior year subscription and support revenue for those customers for which subscription and support
revenue was recognized in the prior year. This calculation includes the impact on revenue from customer non-renewals and attrition,
deployments of additional services or discontinued use of services by customers, price changes for services and increases or decreases in the
number of paid users.
2015 YODLEE. CONFIDENTIAL

21

GROWTH METRICS

Scalable

Levers to Manage Growth and Profitability*

28%
CAGR
20

18.4
14.3

15

Paid Users (millions)

20.0

30%

10.7
10

TTM

8.8

ARPU
NON-GAAP
GROSS MARGIN

2011

2012

2013

2014

Q1 2015

$5.64

$4.38

$4.52

$4.60

$4.58

51%

58%

62%

62%

63%

*Profitability as measured on a non-GAAP EBITDA basis

Note: Paid user is defined as the user of an application or a service provided by customer using the Yodlee platform, whose status
corresponds to a billable activity under the associated customer contract. Also average revenue per paid user is defined as of any point in
time as the trailing twelve-month subscription and support revenue divided by the average number of paid users over the same time period.
2015 YODLEE. CONFIDENTIAL

22

HIGH OPERATING LEVERAGE AND PROFITABLE*

Profitable*

(% of Revenue)
NON-GAAP
GROSS
MARGIN
SUBSCRIPTION**
OVERALL

+14

70

68%

67%

pts

65

62%

62%

62%

58%

60

54%

55

51%
50

2011

2012

2013

+21
NON-GAAP
OPERATING
MARGIN
PERCENTAGE
USD (in millions)

pts

$2

3%

2014

$2

2%

0
-5

-$4
-7%

-10
-15
-20

-$11
-19%

-25

2011
2015 YODLEE. CONFIDENTIAL

*Profitable as measured on a non-GAAP basis

**Defined as Subscription & Support Revenue

2012

2013

2014
23

KEY INVESTMENT HIGHLIGHTS

Massive Transformation Opportunity

Powering Innovation with FIs and Internet players

One of the
LargestPlatform
SaaS User
Platforms
Leading
Financial
in the
Cloud
with 20M+ users across 850+ customers/partners

Unique Financial Platform with

Significant Competitive Advantages

Attractive Financial Model in Large Market with

Accelerating Growth & Increasing Profitability
Profitability*
*Profitable as measured on a LTM non-GAAP EBITDA basis

2015 YODLEE. CONFIDENTIAL

24

INNOVATION APPLIED

APPENDIX

2015 YODLEE. CONFIDENTIAL

26

GAAP TO NON-GAAP RECONCILIATIONS (1 OF 2 PGS)

$ in 000s
GAAP subscription gross profit
Add share-based compensation
Non-GAAP subscription gross profit
Non-GAAP subscription gross margin
GAAP subscription gross margin

2011
$19,704
163
19,867
54%
53%

2012
$27,159
170
26,329
62%
61%

2013
$37,699
201
37,900
67%
66%

2014
$ 50,494
931
51,425
68%
66%

Q1 2015
$14,491
286
14,777
68%
67%

GAAP gross profit

Add share-based compensation
Non-GAAP gross profit
Non-GAAP gross margin
GAAP gross margin

$ 27,567
275
27,842
51%
51%

$ 33,023
289
33,312
58%
57%

$ 43,328
308
43,636
62%
62%

$ 53,866
1,493
55,359
62%
60%

$15,168
397
15,565
63%
62%

GAAP sales and marketing

Less share-based compensation
Non-GAAP sales and marketing
Non-GAAP sales and marketing as percentage of revenue
GAAP sales and marketing as percentage of revenue

$ 12,911
(302)
12,609
23%
24%

$ 13,638
(242)
13,396
23%
24%

$ 15,418
(302)
15,116
22%
22%

$ 22,377
(1,586)
20,791
23%
25%

$6,960
(475)
6,485
26%
28%

GAAP research and development

Less share-based compensation
Non-GAAP research and development

$ 16,768
(266)
16,502

$ 16,193
(236)
15,957

$ 17,948
(243)
17,705

Non-GAAP research and development as percentage of revenue

GAAP research and development as percentage of revenue

30%
31%

28%
28%

25%
26%

$ 23,601
(1,159)
22,442
25%
26%

$6,707
(375)
6,332
26%
27%

GAAP general and administrative

Less Share-based compensation
Non-GAAP general and administrative
Non-GAAP general and administrative as percentage of revenue
GAAP general and administrative as percentage of revenue

$ 9,793
(524)
9,269
17%
18%

$ 8,852
(588)
8,264
14%
15%

$ 9,386
(658)
8,728
12%
13%

$13,321
(2,897)
10,424
12%
15%

$3,940
(761)
3,179
13%
16%

$(11,905)
1,367
(10,538)
(19)%
(22)%

$(5,660)
1,355
(4,305)
(7)%
(10)%

$ 576
1,511
2,087
3%
1%

$(5,433)
7,135
1,702
2%
(6)%

$(2,439)
2,008
(431)
(2)%
(10)%

GAAP operating income

Add share-based compensation
Non-GAAP operating profit
Non-GAAP operating margin
GAAP operating margin
2015 YODLEE. CONFIDENTIAL

27

GAAP TO NON-GAAP RECONCILIATIONS (2 OF 2 PGS)

$ in 000s
GAAP net loss
Add share-based compensation
Non-GAAP net income (loss)

2015 YODLEE. CONFIDENTIAL

2011
($2,087)
1,367
(720)

2012
($6,521)
1,355
(5,166)

2013
($1,181)
1,511
330

2014
($6,975)
7,135
160

Q1 2015
$(2,901)
2,008
(893)

28