Slide 1: We enhance communication and collaboration for organizations worldwide
Investor Presentation Nasdaq: CLRO We enhance communication and collaboration for organizations worldwide
Slide 2: Safe-Harbor Statement – 1 of 2
Nasdaq: CLRO Safe-Harbor Statement – 1 of 2 This presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements in this report, oth
Slide 3: Safe-Harbor Statement – 2 of 2
Nasdaq: CLRO Safe-Harbor Statement – 2 of 2 This communication is not an offer to sell or a solicitation of offers to purchase any securities. This communication has not been approved or disapproved by the U.S. Securities and Exchange Commission (the "SEC") or the securities regulatory authority of
Slide 4: Broad Portfolio of A/V Conferencing and Collaboration Solutions
Nasdaq: CLRO Broad Portfolio of A/V Conferencing and Collaboration Solutions ClearOne provides a complete suite of pro audio and video conferencing products and collaboration solutions for traditional offices and home offices.
Slide 5: Distinguished by Quality and Innovation
Distinguished by Quality and Innovation Nasdaq: CLRO • Our products’ high audio quality and superior audio-visual streaming performance serve as key competitive advantages, driven by proprietary, highly advanced audio signal processing and networking technologies • We believe the following principal
Slide 6: Our advantages against larger competitors
Nasdaq: CLRO Our advantages against larger competitors • Proprietary technology with 80+ patents. • Pioneer in the installed audio conferencing market and a trend-setter with new inventions. • Four decades of experience – one of the oldest in the industry. • Strong brand recognition in the Pro AV ch
Slide 7: Addressable Market Opportunity For ClearOne
Addressable Market Opportunity For ClearOne Nasdaq: CLRO ClearOne 2022 Addressable Addressable Revenue from Market Size Market Growth Market the Market Estimated 2023 Rate Estimate ($ in millions) ($ in millions) 2023-2028 1 Installed audio conferencing $20.3 $195 1 7.0% 2 Video conferencing devices
Slide 8: Innovation Enables a Superior Meeting Experience
Nasdaq: CLRO Innovation Enables a Superior Meeting Experience With over 80 patents and patents pending, ClearOne’s innovative collaboration technology plays a pivotal role in achieving business productivity and operational goals at the office and at home.
Slide 9: Spans Across Organizations and Workspaces
Nasdaq: CLRO Spans Across Organizations and Workspaces Complete suite of advanced audio and video conferencing solutions for high-performance professionals across multiple industries and verticals for WFO and WFH. Any organization Finance Legal Healthcare Government Education Enterprise Any workspac
Slide 10: Sample of Our Blue-Chip Customers
Nasdaq: CLRO Sample of Our Blue-Chip Customers
Slide 11: Audio Conferencing and Voice Lift
Nasdaq: CLRO Audio Conferencing and Voice Lift
Slide 12: Audio Products
Nasdaq: CLRO Audio Products BMA 360D The BMA 360D with Dante® audio is a microphone array ceiling tile that incorporates the world’s most advanced technology and works with any Dante-enabled DSP mixer. Choose any DSP mixer that has Dante audio and the BMA 360D pairs perfectly and delivers unrivaled
Slide 13: Audio Products
Nasdaq: CLRO Audio Products CHAT 150 BT The CHAT 150 BT is a group USB and Bluetooth speakerphone that enhances conferencing for the ultimate in business class performance. • Scheduled to start shipping in Q3 2023.
Slide 14: Video
Video BYOD COLLABORATION ClearOne. Nasdaq: CLRO
Slide 15: New Video Products
Nasdaq: CLRO New Video Products UNITE 60 4K Camera • 120-degree field of view • Electronic Pan-Tilt-Zoom • AI-based smart face or voice tracking UNITE 160 4K Camera • Mechanical Pan-Tilt-Zoom • 12x optical zoom • AI-based auto framing and smart face tracking Unite 260 Pro Camera • Mechanical Pan-Til
Slide 16: Channel Sales Model
Nasdaq: CLRO Channel Sales Model Channel Sales Structure AV Distributors IT Distributors Pro AV VARS IT VARS End Customers Consultants
Slide 17: Revenue History
Nasdaq: CLRO Revenue History Growth phase Litigation $60,000 $55,000 $50,000 $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 ($ in 000s, except margin amounts)
Slide 18: Financial Summary – Revenue
Financial Summary – Revenue Nasdaq: CLRO • Total revenue increased by 31% in Q2 2023 compared to Q1 2023 driven by increased shipments of orders from the backlog due to improved manufacturing output • Revenue performance expected to improve in 2H23 as the Company works to mitigate recent pressures f
Slide 19: Near-Term Revenue Growth Drivers
Nasdaq: CLRO Near-Term Revenue Growth Drivers Annual Revenue Goal - $40 million • Resolve manufacturing issues with contract manufacturer. (Expected mid Q3 2023) • Start shipping beamforming microphone solutions (Dante) to interoperate with most DSPs in the market. This is expected to increase avail
Slide 20: Mid-Term Revenue Growth Drivers
Nasdaq: CLRO Mid-Term Revenue Growth Drivers Annual Revenue Goal - $60 million • New generation of DSPs. • Solutions tailor-made for remote workforce. • Introduce sound reinforcement and audio distribution technologies leveraging and augmenting ClearOne’s existing technology. • Additional AI-based a
Slide 21: Long-Term Revenue Growth Drivers
Nasdaq: CLRO Long-Term Revenue Growth Drivers Annual Revenue Goal - $100 million • System-level AI integration enabling video and audio components to work together to provide the best camera angles and best audio. • Cloud-based DSP. • Specialized solutions incorporating ClearOne cloud-based audio, v
Slide 22: Financial Summary – OpEx and Profitability
Financial Summary – OpEx and Profitability Nasdaq: CLRO • Cost-cutting initiatives implemented in FY22 drive operating expense reductions and leaner foundation for growth Annual OpEx Quarterly OpEx $24,000 $6,000 $5,000 $18,000 $4,000 $12,000 $3,000 $6,000 $2,000 $1,000 $0 FY19 FY20 FY21 FY22 TTM $-
Slide 23: Balance Sheet
Nasdaq: CLRO Balance Sheet Jun 30, 2023 Dec 31, 2022 Assets Cash on hand and investments 22,080 984 Accounts receivable 4,232 58,603 Inventories (Current and Long Term) 10,908 11,668 Prepaid exp & other assets 4,387 7,923 Income taxes receivable 6,381 1,071 Intangibles 1,903 2,071 PP&E, net 614 383
Slide 24: Corporate Focus
Nasdaq: CLRO Corporate Focus ➢ Innovation 7 new products introduced in the last 12 months 84 issued patents with additional applications pending ➢ Cost Savings GAAP OPEX reduced by ~29% YoY and 9% sequentially ➢ Manufacturing Transition and Ramp Revenue growth in Q2 2023 was driven by shipment of or
Slide 25: Investment Rationale
Nasdaq: CLRO Investment Rationale • ClearOne’s strong balance sheet, especially our cash position after paying the special dividend, provides us the necessary ramp to launch new products, build strong teams, and compete effectively in the market. • ClearOne has strong underlying assets including int
Slide 26: Appendices
Nasdaq: CLRO Appendices
Slide 27: Settlement of IP Litigation
Settlement of IP Litigation Nasdaq: CLRO • On December 9, 2022, we entered into a confidential settlement and license agreement with Shure. • Under the terms of this agreement, both parties dismissed with prejudice all the litigations between the parties and released all claims against each other in
Slide 28: ClearOne Executive Team – Bios
ClearOne Executive Team – Bios Nasdaq: CLRO Derek Graham, CEO Joined ClearOne in July 2003. Promoted through the R&D organization. Inventor on 13 patents. Earned a BS in EE, with highest honors, and a Master’s Degree in EE from the Georgia Institute of Technology. Named Interim CEO in May 2022 and p
Slide 29: ClearOne Executive Team – Bios
ClearOne Executive Team – Bios Nasdaq: CLRO David Lambert, VP Audio Technologies Joined ClearOne in 1986. Years of experience working in Research and Development creating algorithms and developing products. Inventor on 33 patents. Earned a BS in EE from the University of Utah. Jim Mergens, VP Sales
Slide 30: Thank You For Your Time
Investor Presentation Nasdaq: CLRO Thank You For Your Time