mavenir analyst day - november 04, 2014

Mavenir Analyst Day November 4, 2014

Transforming Mobile Networks

2Mavenir Analyst Day November 4, 2014

Today’s Agenda


Forward Looking Statements

Statements in this presentation that are not historical fact are forward-looking statements.

Some of the forward-looking statements contained in this presentation can be identified by

the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,”

“plan,” “intend,” “estimate” and “potential,” among others. Forward-looking

statements include, but are not limited to, statements regarding our intent, belief or

current expectations with respect to matters such as future industry trends, capital

expenditures by mobile service providers, the adoption of 4G LTE technology by mobile

service providers and users, and our expected financial performance subsequent to our

most recently released financial results. Forward-looking statements are based on our

management’s beliefs and assumptions and on information currently available to our

management. Such statements are subject to risks and uncertainties, and actual results

may differ materially from those expressed or implied in the forward-looking statements

due to various factors. Investors should review factors described in our filings with the

U.S. Securities and Exchange Commission, including under the heading “Risk Factors” in

such filings. Forward-looking statements speak only as of the date they are made, and

we do not undertake any obligation to update them in light of new information or future

developments or to release publicly any revisions to these statements in order to reflect

later events or circumstances or to reflect the occurrence of unanticipated events.


Company Overview

Pardeep KohliPresident & CEO


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


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% YoY Growth

30% YoY Growth

$96.1M 9mo Rev


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)

Airwide Solutions (EMEA & APAC

Presence)

‘13‘09 ‘10 ‘11 ‘12‘08 ‘14

VoWiFi VoLTE

RCS 5


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


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

CableLTE Wi-Fi FixedOSS

OSS/BSS

Billing

NMS

SLA

CRM


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 VoLTE Offering:

• IP based Phone Call

• Features like call Fwd.

conference

• Instant Messaging

• Presence (availability)

• Video Conferencing


Mavenir Customer Highlights

VoLTE

14RCS

15CORE

22 Growing Roster of Blue Chip 4G Customers

• Top 4 operators 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/4G120+

Based on Mavenir 2Q2014 data


Mavenir 4G Customer Launches

Mavenir 4G solutions are proven in commercial networks across

US and European markets carrying live traffic

RCSLaunched

March 2013

VoWiFiLaunched

July 2014

1DRALaunched

June 2014

Tier One

European

MNO

VoLTELaunched

May 2014

VoLTESMS over IMSLaunched

May 2014 3 4 52

http://www.three.co.uk/Home



Mavenir Customers’ 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

20181,170M

90M

20131,035M

4G LTE subscriber

penetration for 2018 is

396M (34% of 1,170M total)

(1) Represents total subscribers with Mavenir’s current customers.

Source: GSMA – October 2014.Total Subscribers (1):

124M

2Q20141,014M

<5%

VoLTE


4G LTE Progress

Operators globally

1000+

743 invested in LTE

<5%

395 launched

Connections on LTE

Source: GSMA, Oct. 2014


Speed

up to 15x

faster

Services

more

revenue

Savings

less

cost

Spectrum

up to 10x

better

Why 4G LTE is a Necessity


Phase 1 Phase 2

4G LTE

HighSpeed

Data

2G/3G

CircuitSwitched

Voice

4G LTE

Better VoiceHigh Speed DataRich, New Services

First Phase of LTE is “Data Only”…

Two Networks for Voice & Data

Next Phase of LTE is “Unified”…

One Network for Voice and Data

Reallocate Spectrum from 2G/3G

to spectrally efficient 4G LTE

4G LTE Network Evolution Phases


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


Software Based

Transition to Software Networks

2G/3G 4G LTE

Hardware Based

INTEGRATED SOFTWARE ON

SPECIALIZED HARDWARE

VIRTUALIZED SOFTWARE ON

GENERAL PURPOSE HARDWARE


2014 Awards and Recognition

IMS World Forum

Global Telecoms

Innovation

LTE World

MTBC Emerging

Company CEO

Best RCS

Best IMS Core Network

Best VoLTE Innovation

NFV Innovation of the year

Pardeep Kohli

NFV Innovation of the yearLTE Asia

IMS World Forum Best WebRTC Platform;

Best VoLTE Product;

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


Mavenir TAM

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


Competitive Landscape

End to End

(proprietary H/W)

Point S/W-based

Solutions

Complete S/W Portfolio


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


Highly Diversified Revenue Profile

Increasing Direct revenue•Leveraging brand recognition

•Improving profitability


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 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)


Service Provider Broadband Trends

Cable Mobile

Service provider broadband strategies driving towards

converged networks to deliver content and services


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


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


Financials

Terry HungleCFO


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.


Typical Deployment Model

Svcs

Hw

Svcs

Hw

Sw

Lab

Deployment

Initial Production

Deployment

Capacity

Expansion

NETWORKS

RE

VE

NU

E

Svcs

Hw

Sw

INCREASING MIX OF SOFTWARE TO DRIVE MARGINS


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


YTD 3Q14 and YTD 3Q13 Results

9 Months 9 Months

2013 2014 Trend

Revenue $74M $96M ↑30%

Next Gen Revenue $49M $78M ↑61%

Direct Revenue $33M $65M ↑68%

Gross Margin 55.2% 55.8% ↑60bps

Operating Expenses $46.4M $60.7M ↑31%

EPS ($0.34) ($0.11) ↑68%

Net Cash Used in

Operating Actvities

Headcount 749 1,050 ↑40%

($17M) ($13M) ↑$4M


Highly Diversified Revenue Profile


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


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



9%

32%59%

Q3 2014 to Date

New Customers




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 Total RevenueLegacy Revenue


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 %


Balance Sheet Trends

Short Term Liabilities

Deferred Revenue

Debt

Days Sales Outstanding

Days Payable

$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


Long Term Financial Goals (Guidance Range)

Q1/14 Q2/14 Q3/14Guide Range

Q4/14

Guide

Range

2014

Long

Term

Gross Profit 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%

Operating Income % (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 Mavenir and 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 Mavenir undertakes no duty to update its goals.


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


Break


Market & Solutions

Ian MacleanVP, Strategy


Capitalizing on 2 Major Trends

Investing in New Growth Drivers

Market Update

Technology Overview

Major Trends & 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


Capitalizing on Two Major Trends

Transition to All-IP …VoLTE & What’s Beyond VoLTE


VoLTE Market Status – Launched in Key Markets

Launches Planned

OperatorsLaunched

OperatorsTrialing

DevicesAvailable

2014 2015

11 32 18 94

2H 2014

Source: GSMA, GSA - September 2014.




VoLTE Market Forecast – Rapid Growth

59.6m

VoLTEsubscriptions

in 2014

1200m

VoLTEsubscriptions

in 2019

Source: ABI Research June 2014

82%CAGR


Mavenir’s Market 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


LaunchedMay 22nd 2014

LaunchedNov 2011

Nationwide

100%

LaunchedSept 17th 2014

Planned2015

Nationwide

Limited2

LaunchedMay 23rd 2014

Planned2015

RegionalUpper Midwest

Limited1

RCS TelePresenceNot Disclosed

Uncarrier Advanced CallingHD Voice

VoLTE

Brand

Availability

Compatibility

VoWi-Fi

What’s Next?

VoLTE in US


Service Transformation: Voice over LTE & Wi-Fi

EPC IMSDevices

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 Exp than OTT


EPC IMSDevicesCloud 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


Beyond VoLTE: Untethered Network

Mobile

Consumer

Devices

Markets

Fixed /

CableEnterprise

FMC IMS-PBX

VoLTERCS

Residential

Voice

Hosted

PBX / UC


Technology Overview

Terry McCabeCTO


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

MessagingConferencing

Cloud Storage

Attendant

UC Telephony

Multi-Line

IMS CoreMulti-

Device

WebRTC


Enterprise Demo Participants

Cellphone Tablet

Amy Smith

Cellphone Desk Phone

Carlos Sanchez

Cellphone Desk Phone

Raj Verma


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


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


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


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 Threee inTouch Wi-Fi Calling for coverage extension

• Downloaded experience on any device

Leveraging the investment in Rich

Communications and Wi-Fi deployment


VoWi-Fi Case Studies

http://youtu.be/UhpkFybIpWMhttp://youtu.be/nxK7ikDKGPc

http://youtu.be/UhpkFybIpWM

http://youtu.be/nxK7ikDKGPc


Capitalizing on Two Major Trends

Transition to Software Networks …NFV/SDN


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


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% reductionin costs,” Marian Croak, AT&T’s SVP for Domain

2.0, told CIO Journal.

Deployment

Flexibility

Elasticity

Service Agility

Scalability

Source: CIO Journal May2014


Mavenir’s Leadership 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

ProductsIn virtualized IMS & EPC

product portfolio

Over 30Customers

For virtualized VoLTE

& RCS solutions

14Tier 1

AwardsVirtualized IMS platform

NFV Innovation of the

year

EcosystemOpen approach to

virtualization partners



IMS-PBX …Addressing the SP Micro/SMB Market Segment


Enterprise Services Landscape

SOHO /

Micro /

SMB

LargeEnterprises1

0%

• BUSINESS MOBILITY

• BYOD

Market Segments

90

%

Device Ecosystem

Major Trends

Service Providers

Large Operators

Cloud Telephony


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


All-In-One UCMultipoint / Multimedia

Communication

Collaboration

IMS ReuseIMS-As-A-Platform

Standards-based

Open

ContextualBusiness & Social

SOHO/Micro/SMB

Work/Family/Community

ConnectedBYOD, Personas

Service Mobility

Smart Devices

IMS-PBX

IMS-PBX: Integrated Business/Social Communication


Operator Network Transformation

CS

Voice + Text

Hosted

PBX + UC

MNO

Consumer

BusinessNative

Vo

LT

E

RCSAll-IP

Voice + Text

IMS-PBX

CONVERGENCE

OTT

NATIVE



EPC: Leveraging SDN Concepts for a Smarter Data Network


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


EPC Market Dynamics Driving Change

Internet Browsing

Streaming Video

Non–Realtime QOS

Central IP PoP

Hierarchical

HW-Based

Box/Monolithic

3GPP StandardArchitecture

Functionality

Deployments

Voice, Data, Video

M2M

Peer To Peer

Realtime QOS

NFV/SDN

Distributed

SW-Based

Cloud/Flexible

Modular/Distributed

Current Requirements

Internet Access

New Requirements

Operator Services


Traditional Incumbents

Point Solutions


EPC Competitive Landscape


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


Mavenir’s Virtualized SDN EPC

SoftwareFully Virtualized

Infinitely Scalable

Hardware Agnostic

ArchitectureModular/ Distributed

Separated Signaling/ Media

Multi-AccessVoLTE/VoWiFI

M2M Device Management

OptimizedUnique One Touch

Local Caching

sEPC


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


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 TCO3



SBC: Leveraging Disruptive SW Platform for Next Gen SBC


SBC Market Dynamics Driving Change

VoIP

Mature

Robust

Enterprise

IP Interconnect

Wireline

HW-Based

Box/Monolithic

RigidArchitecture

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


Wireless 4G Pure Play

Point SolutionsPoint Solutions


Point Solutions


Wireless 4G Disrupts SBC Market

Fixed/Enterprise Wireless 2G/3G Wireless 4G

SBC Competitive Landscape

Who ?


SBC Global Market

0

300

600

900

1200

1500

1800

2013 2014 2015 2016 2017 2018

Wireline SP Enterprise Wireless SP

Source: Dell’Oro Group - July 2014

US$M $1.6BnWireless

CAGR: 28%


Session Border Controller (SBC)

SoftwareFully Virtualized

Functionally Robust

Security/ Signaling Rich

ArchitectureModular/ Distributed

Separated Signaling/ Media

Hardware Agnostic

WirelessVoLTE/RCS Functions

3GPP Compliant

ExperienceEnd-to-End Wireless

Wireless 4G Deployments

SBC


Mavenir’s Presence 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

WebRTC

Gateway

5 4 1 4


Thank You


Q & A


Transforming Mobile Networks

Appendix


Long-Term Financial Goals

(GAAP to Non-GAAP Reconciliation)

GAAP Non-GAAP

Gross Profit Margin % 68-72% 69-73%

Research & Development % 18-20% 17-19%

Sales & Marketing % 22-24% 21-23%

General & Admin % 8-10% 8-10%

Operating Income % 18-22% 21-25%


Q3 2014 Results

(Non-GAAP Net Loss Reconciliation)

*(Note: 000’s USD except share and per share data)

Three Months Ended

30-Sep-14

Total Revenue $34,052

Gross Profit (GAAP) $17,982

Amortization and Depreciation 279

Stock Based Compensation 221

Gross Profit (Non-GAAP) $18,482

Operating Income (GAAP) ($3,837)

Amortization and Depreciation 1,336

Stock Based Compensation 1,357

Operating Income (Non-GAAP) ($1,144)

Net Interest $404

Pre-Tax Income ($1,548)

Income Taxes (GAAP) ($657)

Adjustment for Uncertain Tax Provisions (102)

Net Loss (Non-GAAP) ($789)

Adjusted weighted average common shares outstanding 27,392,000

Non-GAAP Net Loss Per Share ($0.03)

mavenir analyst day - november 04, 2014

Investor Relations

ipo6mavenir analyst

mo rev7mavenir analyst

g lte solutionscapitalizing

g lte technology

forwardlooking statementsdue

g allip

us operators

mobile service providers