2q17 ir website deck v1

Investor Presentation

April 2017

Safe Harbor SlideSafe Harbor Statement

This presentation contains forward-looking statements that involve risks and uncertainties, including statements regarding MobileIron's revenue and other GAAP and non-GAAP financial metrics for the company's third quarter in 2015 and other statements regarding trends in the company's business, including statements regarding MobileIron's GAAP and non-GAAP revenue and operating expense targets, growth in our customer base, increased customer adoption, and expected benefits from new product offerings and MobileIron’s partner ecosystem. There are a significant number of factors that could cause actual results to differ materially from statements made in this presentation, including MobileIron's limited operating history,quarterly fluctuations in MobileIron's operating results, MobileIron's need to develop new solutions and enhancements to compete in rapidly evolving markets, product defects, competitive pressures, customer adoption, changes by operating system providers and mobile device manufacturers, MobileIron's inability to manage growth, the quality of MobileIron support, MobileIron's reliance on channel partners and development of partner ecosystem.

Additional information on potential factors that could affect MobileIron's financial results is included in the company's SECfilings, including its most recent Form 10-K and Form 10-Q. MobileIron does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

VisionUnlock human

potential

MissionProvide security and apps

backbone for modern computing

StrategyBuild scalable, multi-OS

architecture with repeatable business model

Large Secular Trend of Enterprise Security & Mobility

Leadership Positionin the Magic Quadrant

Rapidly Growing Base with over 12+ million Cumulative seats and 14,500 Cumulative Customers since 2009

High Organic GrowthRecurring Revenue Growth 25% in 2016

Sales Leverage & Reach through Global Channels

Strong ecosystem100+ OS, device, security, cloud, network, apps ISVs

Accelerating Business Modelwith Compelling Economics & Path to Profitability

Data as of fourth quarter 2015

Two trends power our business

Mobile security

Cloud security

Network security

Enablement

Intelligence

Move to cloudMove to mobile

Old: Perimeter Model

Enterprise Boundary Collapsing

System imageAnti-malware agents

PerimeterFirewall

Device VPNVDI

Mobile & Cloud Model

Salesforce Office365 Workday SAP Oracle

Concur Google Drive box Dropbox

Enterprise Information is Everywhere:

In the datacenter

In the cloud

In mobileapps

On mobile devices

In motion between them

Note: Some features will vary by device and deployment model

MobileIron end-to-end product architecture

Broad, Integrated Ecosystem

Service providers

Services multiplier

Infrastructure

Mobile awareness

OS/ODM

Device Adoption

Applications

Security

Accelerating growth

FedRampCalifornia law

Common Criteria

Mobile apps and regulatory

requirement

New products

Grow EMM business: 15-20% growth

Expand TAM: 560M laptops

Increase ASP $ / customer: 10 - 33%

Certifications awarded

FedRAMPGovernment Cloud

US-EU Privacy Shield CSfCNSA Commercial Solutions for Classified

FIPS 140-2 Common CriteriaMDMPP V2

SOC 2 Type II

Why We Win

We secure apps

AppConnect

We secure the network

Sentry

We secure identity

Certs and SSO

Routes to Market

Operators

VARs

Financial Overview

Sales Model: Optimized for Long Term Growth

SELL MORE SEATS

INCR

EASE

$/S

EAT

1) Renew: renewals of subscription and software support agreements on a device basis

Upsell More ProductsIncreased $ per seat

Land New CustomersSubscription or Perpetual

Expand OrdersExisting Customer Upside

RenewHigh Renewal Rate

MCM MAM

MDM

Kerberos

Revenue Mix Shifting Towards Subscription

See earnings press release for non-GAAP reconciliation

Shift from Perpetual to Subscription64% to 23%

Net Present Value on Subscription

Higher

Increased Predictability

15% 17% 19% 20% 22% 24% 24% 25% 31% 33% 33% 34% 38% 39% 37% 36% 40%

21% 24% 25%27% 28%

28% 28% 27%34% 33%

32%31% 34% 36% 35% 33% 37%

64% 59%57%

53%49%

48%48%

48% 35% 34%35%

36%27%

25%27%

32% 23%

$0

$5

$10

$15

$20

$25

$30

$35

$40

$45

$50

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17

Reve

nue

$MM

Subscription Software Sprt/Service Perpetual

Perpetual23%

Subscription40%

SoftwareSupport/Services

37%

First Quarter 2017 Revenue

$42.3M

+11%

1Q YoY Revenue Growth by Category

$38.0$42.3

-0.5

+2.3 +2.5

1Q16REVENUE PERPETUAL SUBSCRIPTION SUPPORTANDSERVICE

1Q17REVENUE

$6M$7M

$9M$11M

$12M$14M

$16M$18M

$20M$22M

$23M$26M$27M$28M

$29M$30M$31M

1Q132Q133Q134Q131Q142Q143Q144Q141Q152Q153Q154Q151Q162Q163Q164Q161Q17

$9M $9M$12M

$16M$16M$19M

$20M

$24M$24M$25M

$27M

$31M

$27M

$31M

$35M

$40M

$34M

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1Q15

2Q15

3Q15

4Q15

1Q16

2Q16

3Q16

4Q16

1Q17

Recurring Billings and Revenue

Recurring Billings Recurring Revenue

Billings Model

Perpetual (One Time)

Software Support

Term Subscription(12/24/36 Month)

Monthly Recurring (MRC)Billed Each Month by Service Provider

Not in Deferred Revenue

Footnotes:1) See earnings press release for non-GAAP reconciliation2) Recurring billings: Billings from subscription (term and MRC) plus service support. 3) Recurring revenue: revenue from subscription (term and MRC) plus service support.

37% CAGR 46% CAGR

Billings and Revenue shift to recurring modelBillings mix Revenue mix

64.8%69.9%

74.9%

35.2%30.1%

25.1%

1Q15 1Q16 1Q17

RecurringBillings One-TimeBillings

60.1%

70.1%73.8%

39.9%

29.9%26.2%

1Q15 1Q16 1Q17

RecurringRevenue One-TimeRevenue

Focus on expense optimization

1Q17: Non-GAAP operating expenses of $40.8M• Down $1.5M from 1Q16• Down 14.7% as a % of revenue

Non-GAAP operating expenses as % of revenue

Non-GAAP target model Target

Gross Margin 85% – 87%

Sales & Marketing 33% - 36%

Research & Development 18% – 20%

General & Admin 7% - 9%

Operating Income 20% - 25%

36% 38% 34%

73% 59%51%

22%

14%12%

1Q15 1Q16 1Q17

Research&Development Sales&Marketing General&Admin

131%

111%97%

GAAP to Non-GAAP Reconciliation(inUSD$000s,exceptforpercentages) Q1FY2016 Q2FY2016 Q3FY2016 Q4FY2016 FY2016 Q1FY2017

GAAPRevenue 38,008 38,881 41,566 45,472 163,927 42,288

VSOErevenuepriorto2013 - - - - - -

Non-GAAPRevenue 38,008 38,881 41,566 45,472 163,927 42,288

GAAPGrossProfit 30,738 30,764 33,757 38,120 133,379 35,018


Amortizationofintangibles 154 154 154 154 617 154

Stockbasedcompensationcharges 390 1,055 747 851 3,043 700

Restructuringcharge - - 181 -

Non-GAAPGrossProfit 31,282 31,974 34,839 39,125 137,038 35,872

Non-GAAPgrossmargin(non-GAAPgrossprofitovernon-GAAPrevenue)

82.3% 82.2% 83.8% 86.0% 83.6% 84.8%


Research&development-GAAP 16,927 18,019 16,587 16,214 67,747 17,193Stockbasedcompensationcharges (2,601) (3,812) (2,709) (2,606) (11,729) (2,766)

Restructuringcharge - - (349) - (349) -

Research&development-non-GAAP 14,326 14,207 13,529 13,608 55,669 14,427Research&development-non-GAAP;as%ageofnon-GAAPrevenue

38% 37% 33% 30% 34% 34%

Sales&marketing-GAAP 25,669 27,246 24,404 24,844 102,162 23,303Stockbasedcompensationcharges (3,119) (2,992) (2,307) (2,056) (10,473) (1,772)


Sales&marketing-non-GAAP 22,550 24,254 21,693 22,788 91,285 21,530Sales&marketing-non-GAAP;as%ageofnon-GAAPrevenue

59% 62% 52% 50% 56% 51%

General&administrative-GAAP 7,548 8,265 7,080 6,921 29,814 7,331Stockbasedcompensationcharges (2,139) (2,686) (2,109) (2,210) (9,143) (1,308)


General&administrative-non-GAAP 5,409 5,580 4,852 4,711 20,553 6,023General&administrative-non-GAAP;as%ageofnon-GAAPrevenue

14% 14% 12% 10% 13% 14%


Operatingloss-GAAP (19,407) (22,765) (14,314) (9,859) (66,344) (12,808)


Amortizationofintangibles 154 154 154 154 617 154

Stockbasedcompensationcharges 8,248 10,545 7,872 7,723 34,388 6,546

Restructuringcharge - - 1,052 - 1,052 -

Litigationsettlementcharge - - - - - 1,143

ImpairmentofIPR&D - - - - - -

Operatingloss-non-GAAP (11,004) (12,066) (5,235) (1,982) (30,287) (4,964)

OperatingMargin-non-GAAP;(non-GAAPoperatinglossovernon-GAAPrevenue)

(29%) (31%) (13%) (4%) (18%) (12%)


GAAPRevenue 38,008 38,881 41,566 45,472 163,927 42,288

TotalDeferredRevenue,EndofPeriod(1) 70,157 72,488 78,172 88,076 88,076 91,162

Less:TotalDeferredRevenue,BeginningofPeriod (69,875) (70,157) (72,488) (78,172) (69,875) (88,076)

GrossBillings 38,289 41,213 47,251 55,375 182,128 45,374

GAAPRevenue 38,008 38,881 41,566 45,472 163,927 42,288

Less:PerpetualLicenseRevenue (10,368) (9,783) (11,311) (14,313) (45,774) (9,882)

Less:ProfessionalServicesRevenue (570) (1,023) (780) (438) (2,811) (698)

SubscriptionandSoftwareSupportDeferredRevenue,EndofPeriod67,580 70,286 75,956 85,613 85,613 88,617

Less:SubscriptionandSoftwareSupportDeferredRevenue,BeginningofPeriod

(67,267) (67,580) (70,286) (75,956) (67,267) (85,613)

Less:Adjustments(2) (612) (341) (232) (726) (1,912) (728)

RecurringBillings 26,770 30,440 34,915 39,651 131,776 33,983

RecurringBillingsasPercentageofGrossBillings 70% 74% 74% 72% 72% 75%

Explanation ofNon-GAAPMeasures

TosupplementourfinancialresultspresentedonaGAAPbasis,weusethenon-GAAPmeasuresindicatedinthetables,whichexcludestock-basedcompensation,theamortizationofintangibleassets,andperpetualrevenue recognizedfromlicensesdeliveredpriorto2013,thatwebelievearehelpfulinunderstandingourpastfinancialperformanceandourfutureresults.Ournon-GAAPfinancialmeasuresarenotmeanttobeconsideredinisolationorasasubstituteforcomparableGAAPmeasuresandshouldbereadonlyinconjunctionwithourconsolidatedfinancialstatementspreparedinaccordancewithGAAP.Ourmanagement regularly usesoursupplementalnon-GAAPfinancialmeasuresinternallytounderstand,manageandevaluateourbusinessandmakeoperatingdecisions.Thesenon-GAAPmeasuresareamongtheprimary factorsmanagementusesin planningforandforecastingfutureperiods.Compensationofourexecutivesisbasedinpartontheperformanceofourbusinessbasedonthesenon-GAAPmeasures.Ournon-GAAPfinancialmeasuresreflectadjustmentsbasedonthefollowingitems:

Perpetuallicenserevenuerecognizedfromlicensesdeliveredpriorto2013 Wehaveexcludedtheeffectofperpetuallicenserevenuerecognizedfromlicensesdeliveredpriorto2013fromrevenuegrossprofit,grossmargin,operatingloss,andoperatingmargin.Becausewehadnotestablishedvendorspecificobjectiveevidence,orVSOE,offairvalueofsoftwaresupportandservicespriortoJanuary1,2013,werecognizedperpetuallicenserevenueratablyover thetermoftherelatedsoftwaresupportagreement.UponestablishingVSOEonJanuary1,2013,webegantorecognizeperpetuallicense revenueupondeliveryassumingallotherrevenue recognitioncriteriaaremet.Asaresult,ourperpetual licenserevenueincludesamountsrelatedtolicensesdelivered inpreviousyears.Revenue fromtheseperpetual licensesdeliveredpriorto2013hasdeclinedovereachquartersincethequarterendedMarch31,2013andwillcontinuetodeclinesequentiallyuntilitisfullyamortized.Weevaluateourbusinessperformanceexcludingrevenuefromtheseperpetual licensesdeliveredpriorto2013aswebelievethattheinclusionofthisrevenuemakesitdifficulttocompareperiodsandunderstandgrowthin ourbusiness.

Stock-basedcompensationexpenses:Wehaveexcludedtheeffectofstock-basedcompensationexpensesfromournon-GAAPcostofrevenue,operatingexpensesandnet incomemeasures.Althoughstock-basedcompensationisakeyincentiveofferedtoouremployees,andwebelievesuchcompensationcontributedtotherevenuesearnedduringtheperiodspresentedandalsobelieve itwillcontributetothegenerationoffutureperiodrevenues,wecontinuetoevaluateourbusinessperformanceexcludingstock-basedcompensationexpenses.Stock-basedcompensationexpenseswillrecurinfutureperiods.

Amortizationofintangibleassets:Wehaveexcludedtheeffectofamortizationofintangibleassetsfromournon-GAAPcostofrevenue,operatingexpensesandnet incomemeasures.Amortizationofintangibleassetsisinconsistentinamountandfrequencyandissignificantlyaffectedbythetimingandsizeofouracquisitions.Investorsshouldnotethattheuseofintangibleassetscontributedtoourrevenuesearnedduringtheperiodspresentedandwillcontributetoourfutureperiodrevenuesaswell.Amortizationofintangibleassetswillrecurinfutureperiods.

RestructuringCharges:Inournon-GAAPfinancialmeasures,wehaveexcludedtheeffectoftheseveranceandotherexpensesrelated toourreductioninworkforce.Restructuringchargesmay recurinthefuture;however, thetimingandamountsaredifficulttopredict.

GAAP to Non-GAAP Reconciliation

2q17 ir website deck v1

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