August 5, 2014
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Cautions regarding forward looking statements;
other general information (Safe Harbor)
This presentation contains “forward-looking” statements. All statements other than statements of historical fact could be deemed
forward-looking, including, but not limited to, any projections of financial information; any statements about historical results that
may suggest trends for our business and results of operations; any statements of the plans, strategies and objectives of
management for future operations; any statements of expectation or belief regarding future events, potential markets or market
size, technology developments, or enforceability of our intellectual property rights; and any statements of assumptions underlying
any of the foregoing. These statements are based on estimates and information available to us at the date of this presentation
and are not guarantees of future performance. These forward-looking statements are subject to a number of risks, uncertainties
and assumptions, including those described in the “Risk Factors” section of our fiscal year 2013 Annual Report on Form 10-K filed
with the Securities and Exchange Commission on February 28, 2014 and in our subsequent SEC filings. Moreover, we operate in a
very competitive and rapidly changing environment, and new risks emerge from time to time. It is not possible for us to predict all
risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these
risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this presentation may not occur
and actual results could differ materially and adversely from those anticipated or implied in our forward-looking statements. You
should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations
reflected in our forward- looking statements are reasonable, we cannot guarantee that the future results and circumstances
described in the forward-looking statements will be achieved or occur. Moreover, neither we nor any other person assumes
responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to update
publicly any forward-looking statements for any reason after the date of this presentation to conform these statements to actual
results or to changes in our expectations, except as required by law.
In addition to U.S. GAAP financials, this presentation includes certain non-GAAP financial measures. These non-GAAP measures
are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP.
Reconciliation between GAAP and non-GAAP measures is included in the appendix to this presentation.
You may get our Form 10-K, and all other documents we file with the SEC for free by visiting EDGAR on the SEC Web site at
www.sec.gov.
Rocket Fuel is a registered trademark of Rocket Fuel Inc. This presentation also contains additional trademarks and service marks of ours and of
other companies. We do not intend our use or display of other companies’ trademarks or service marks to imply a relationship (other than as a
customer, as applicable) with, or endorsement or sponsorship of us by, these other companies.
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August 5, 2014
GEORGE H. JOHN (PhD) | CEO, Chairman, Co-Founder
01 | Building A Great Company
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Strong Q2’14 Performance
GROWTH
LEVERAGE AND RETENTION
REVENUE
149%
84%
revenue retention
from Q2’13 to
Q2’14
YOY Q2 growth in
revenue less media
costs
+126%
+70%
270 bps
YOY Q2 gross margin improvement
Q2 '13
Q2 '14
2012
2013
SUCCEEDING WITH NEW
INITIATIVES
ACTIVE CUSTOMERS
1,444
+84%
Q2 '13
Q2 '14
2013
#1
44%
of revenue from mobile, social, and
video in Q2’14 vs. 18% in Q2’13
140
active customers served via
Japan licensee via SaaS offering
TECHNOLOGY
ADVANCES
MORE RESPONSIVE
to changing market
dynamics
NEW MODEL TYPES
for specific
advertiser objectives
and channels
50+ Billion
Real-time bid
requests/day
34,000 CPU cores
8 data centers
17 Petabytes of data
*Revenue retention, Active customers, and Revenue less Media Costs are non-GAAP figures. Please refer to the Reconciliation of Revenue less Media Costs to Revenue in the appendix to this
presentation
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August 5, 2014
Our AI Foundation and Scale Create
Growth Opportunities
ACQUIRE
MARKET
Self-Service
Platform
INCREASE
GROW
Our Mobile,
Social &Video
Market Share
Sales;
Customers;
Globally
EXTEND
Technology
Leadership
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August 5, 2014
Adjacent Sales
or Tech Talent
NEW
Adjacent
Businesses
The Rocket Fuel Story and DNA
Slide 1 Rocket Fuel Series A Deck, March 2008
BIG DATA
ARTIFICIAL
INTELLIGENCE
for
DIGITAL MARKETING
=
Right Ad, Right Person,
Right Time
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August 5, 2014
Superior Revenue Growth
GROWTH DRIVERS

$241 M

126%
Growth
$167M
80%
Growth

$107 M
$93 M

$45 M
$17 M
2009
7
2010

2011
2012
2013
1H 2013
August 5, 2014
1H 2014
It Just Works,
Customers Love It
Disruptive
Big Data + AI
Tech Platform
Multi-channel
Strategy
Rise of Exchanges
and Real-Time
Bidding
Strong Team,
Right DNA
Happy Customers Stay and Spend More
New Customer
REVENUE RETENTION
DRIVERS
Customer Existing in Prior Year
+49%


+68%

+75%

+34%

2010
8
2011
2012
2013
August 5, 2014
1H 2014
Big Data +AI Tech
Drives Results
Rational, Happy
Customers with
Budget Reserves
Spend More
Scalable Supply
Broad Product Family
Cross-sell
Focus on Customer
Satisfaction
In Our Customers’ Words
Source: Company Survey, Q4 2013
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August 5, 2014
Company Highlights
Disruptive Mission: AI and BIG
DATA TECHNOLOGY for Digital
Advertising
Blue Chip, Delighted
CUSTOMERS Returning and
SPENDING MORE
Huge $45B MARKET* Already
Addressing GLOBALLY
DIVERSIFIED
High GROWTH Business
Well-Positioned MULTI-CHANNEL
STRATEGY; Superior TEAM
Financial MODEL with
opportunity for LEVERAGE
*Industry data source: Magna Global. Market represents digital advertising including display, mobile, social, and video channels only.
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August 5, 2014
The Mission
Fuel Heroic SUCCESS for Our Customers with
BIG DATA and ARTIFICIAL INTELLIGENCE
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August 5, 2014
Evolution of Software: Autonomous AI
The Age of
Databases & Apps
The Age of
Big Data
The Age of
Autonomous AI
DATA
Workers Typing
Corporate Logs &
Databases
Planet-Scale
Consumer Activity
VALUE
Digital Files, Reports
Workflow
User-Generated
Queries, Charts,
Powerpoint
Decisions Made
Autonomously Without
Human Intervention
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August 5, 2014
Business Model / Illustrative Example
ADVERTISER’S REQUIREMENT
My Budget Is $100K … Get 10K Orders… Serve 50M Ads
A
D
V
E
R
T
S
E
R
S
A
G
E
N
C
I
E
S
$0.001
$100K
at a Time
Results
E
X
C
H
A
N
G
E
S
P
U
B
L
I
S
H
E
R
S
C
O
N
S
U
M
E
R
S
15,000 Orders
Rocket Fuel Over-Delivers: More Results, More Efficiently
Based on a commissioned analysis of 60 and 90 day campaigns in, “Measuring the Total Economic Impact of Rocket Fuel,” April 2013, by Forrester Consulting.
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August 5, 2014
How We Do It: Advertising that Learns®
…50+ Billion Times a Day
1
Inventory
Quality
2
Predict Impact
on User
3
How Much
Should I Bid?
4
Did It Work?
Measurable
Outcomes
‘bot and quality filters
discard ~1/3
$
$
✓
Automatically
Learns Patterns
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August 5, 2014
✗
Autonomous Learning: Unintuitive Results
ONE PIECE OF THE BRAIN: MODEL COEFFICIENTS FOR LUXURY CAR LEADS
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August 5, 2014
Taking Share in a Massive Global Market
2013
All Advertising
$490B*
Digital Advertising
(excl search)
$45B
Rocket
Fuel
132% CAGR
‘11-’13
16% CAGR
’13-’17
6% CAGR
‘13-’17
*Industry data source: Magna Global
Digital Advertising includes display, mobile, social and video channels only. Mobile includes mobile search and display, and we are currently focused
only on mobile display.
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August 5, 2014
Rocket Fuel vs. the Competition
A RADICALLY DIFFERENT APPROACH, VERSUS:
Traditional Networks & DSPs

Human “Optimizers”

Bulk Arbitrage

> Poor Performance
ROCKET FUEL
Niche Ad Networks

Single Channel

Single Tactic

> Limited Scale/Market
Blockbuster Publishers
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
Consumer-focused

Using exchanges to sell

> Friend more than Foe
August 5, 2014
Our Complete, Diversified Solution
AWARENESS
Brand Advertising
INTENT
PURCHASE
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Direct
Response
Advertising
20+ Global Locations;
Ads in 100+ Countries
August 5, 2014
Display
Mobile
Social
Video
Our Sustainable Technology Advantage
1
2
PREDICTIVE MODELING
1,000+
Simultaneous Campaigns
Millions
of Attributes Analyzed
3
BIG DATA
17 Petabytes of Data
268B+ Impressions
Served to Date
AUTOMATED
DECISIONING
Simple
Interface…
…Complex
Tech
~585,000
Bid Requests/Second
100M+ Decisions/Sec
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COMPUTATIONAL
INFRASTRUCTURE
8 Data Centers Globally
34,000
CPU Cores
Team of Award-Winning Scientists
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August 5, 2014
A Big Data Learning Machine
Results: Strong Competitive Advantage
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August 5, 2014
Proven, Successful Management Team
George John
CEO
Richard Frankel
President
Peter Bardwick
Mark Torrance
Abhinav Gupta
Dominic Trigg
Eric Porres
Jarvis Mak
Calton Chan
Simon Hayhurst
JoAnn Covington
Derek Sidebottom
CTO
CMO
SVP, Product and
Biz Dev
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VP, Engineering
SVP, Cust. Success
Chief Privacy
Officer & GC
August 5, 2014
CFO
VP, Managing
Dir., Europe
SVP, Sales
VP, People
RICHARD FRANKEL | PRESIDENT, CO-FOUNDER
02 | Delighting Our Customers
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August 5, 2014
Our Customers Are Serious Marketers
FINANCE
RETAIL
TRAVEL
TELECOM / CABLE
HEALTH & BEAUTY
ENTERTAINMENT
CPG
AUTO
GOVERNMENT/NONPROFIT
TECHNOLOGY
EDUCATION
DINING / OTHER
AGENCIES
86/100
Advertising Age
Leading
National Advertisers
60/100
Fortune 100
Companies
Represents advertisers and brands who have spent with Rocket Fuel during twelve months ended Q2’14.
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August 5, 2014
lifetime
100+$1M+
customers
Delivering Serious Insights
Not a Black Box, Helping Our Customers Get Smart
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August 5, 2014
Results Drive Customer Growth and Loyalty
CUSTOMER GROWTH
WE OUTPERFORM
LOYALTY
Active Customers
And Deliver Valued
Strategic Advice
Revenue from Customers
Existing in Prior Year
1444
1224
ROI
+144%*
+49%
536
266
151
2010 2011 2012 2013 1H 2014
Ad Networks
1H 2013
Note: Active customers includes customers served through software platform licensee. Active customers is a non-GAAP figure.
*Based on a commissioned 3 year analysis, “Measuring the Total Economic Impact of Rocket Fuel”, April 2013, by Forrester Consulting.
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August 5, 2014
1H 2014
Flexible Platform Supports Global Expansion
EUROPE: MEDIA
JAPAN:
SELF-SERVICE SOFTWARE
Common Technology Platform
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August 5, 2014
J. PETER BARDWICK | CFO
03 | Financial Performance
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August 5, 2014
Financial Highlights
Exceptional, Diversified, Capital Efficient Top Line Growth
Highly Scalable, Technology-Driven Business Model
Strength of Technology Across Channels
Significant Potential Leverage in Operating Model
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August 5, 2014
Q2 2014 Performance Highlights
REVENUE LESS
MEDIA COSTS*
$54.4M
Q2 '13
GROSS PROFIT
$92.6M
Q2 '14
80%
Growth
$45.7M
$25.4M
84%
Growth
$54.7M
$29.7M
Q2 '13
ADJ. EBITDA*
REVENUE
70%
Growth
Q2 '14
($0.4M)
$0.3M
Q2 '13
Q2 '14
Q2 '13
Q2 '14
*Revenue Less Media Costs and Adjusted EBITDA are non-GAAP financial measures. Please refer to the Reconciliation of Revenue Less Media Costs to
Revenue and the Reconciliation of Adjusted EBITDA to Net Loss in the appendix to this presentation.
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August 5, 2014
Strong Revenue Growth
$241 M
126%
Growth
$167 M
80%
Growth
$107 M
$93 M
$45 M
$17 M
2009
30
2010
2011
2012
2013
August 5, 2014
1H 2013
1H 2014
AI Driven Platform Drives Diversification
Across Channels…
% OF REVENUE BY CHANNEL
Mobile, Social, Video
Display
2%
2011
8%
2012
24%
2013
39%
44%
Q1 2014
Q2 2014
This is a non-GAAP metric.
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August 5, 2014
317% YOY GROWTH
in Q2’14
MOBILE, SOCIAL,
VIDEO Revenue
… Geographies, Products and Customers
By Geography*
Int’l
146% YOY GROWTH in Q2 2014
INTERNATIONAL Revenue
N. America
By Product*
By Customer**
Advertising Age
100 Leading National Advertisers
Mobile,
Social, Video
Brand
Direct
Response
86
*Based on Q2 2014 Data
**Represents advertisers and brands who have spent with Rocket Fuel during the twelve months ended Q2’14
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August 5, 2014
Fortune 100
60
Strong Revenue less Media Costs
Revenue Less Media Costs* (non-GAAP)
% of Revenue
Revenue Less Media Costs % of Revenue
80%
70%
60%
50%
40%
30%
20%
10%
0%
2012
2013
2014
*Revenue Less Media Costs is a non-GAAP financial measure. Please refer to the Reconciliation of Revenue Less Media Costs to Revenue in the
appendix to this presentation.
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August 5, 2014
Industry Leading Growth while Managing
Adjusted EBITDA
$92.6
$ Millions
$85.6
$74.4
Revenues
Adjusted EBITDA (non-GAAP)*
$62.5
$54.4
$40.1
$26.9
$23.0
$7.8
$11.6
$8.8
$16.4
$38.2
$16.6
$5.3
$0.8
($0.7)
Q1
Q2
($1.0)
($1.2)
($2.0)
Q3
2011
$0.3
Q4
Q1
($0.1)
Q2
($0.5)
Q3
($1.3)
Q4
2012
($0.7)
($4.6)
Q1
Q2
Q3
2013
($3.7)
Q4
Q1
($0.4)
Q2
2014
*Adjusted EBITDA is a non-GAAP financial measure. Please refer to the Reconciliation of Adjusted EBITDA to Net Loss in the appendix to this presentation.
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August 5, 2014
Appendix
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August 5, 2014
Reconciliation of GAAP to Non-GAAP
Financial Measures
Three Months Ended
Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, Jun 30,
2011
2011
2011
2011
2012
2012
2012
2012
2013
2013
2013
2013
2014
2014
Net income (loss)
($871) ($2,365) ($1,487)
$398
($1,610) ($860) ($2,002) ($5,871) ($8,072) ($3,838) ($6,860) ($2,161) ($11,225) ($9,759)
Interest expense
60
59
67
64
66
104
63
83
124
229
251
313
414
514
Income tax expense
2
7
8
11
14
25
28
17
54
-14
133
112
314
181
($1)
124
93
79
115
147
831
1,215
1,097
1,258
2,385
-
-
-
64
105
116
178
221
284
391
437
607
673
781
2407
1804
2667
Stock-based compensation
17
45
41
61
154
161
212
2,794
1,565
2,035
2,653
4,589
4,957
5,999
Total adjustments
142
340
325
393
570
721
1525
4546
3447
4181
6203
7421
7489
9361
$343
($657)
$5,260
Change in fair value of
preferred stock warrants
Depreciation and amortization
(excludes amortization of
internal use software)
Adjusted EBITDA
36
($729) ($2,025) ($1,162)
$791
($1,040) ($139)
August 5, 2014
($477)
($1,325) ($4,625)
($3,736) ($398)
Thank You
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August 5, 2014