eMagin — Investor Presentation (November 2020)
18 slides from eMagin's investor presentation, November 2020
Slide 1: Making AR/VR A Reality
Making AR/VR A Reality Investor Presentation November 2020 1
Slide 2: Disclaimer
Disclaimer Certain statements made by us in this presentation that are not historical facts or that relate to future plans, events or performances are forward-looking statements within the meaning of the federal securities laws. Our actual results may differ materially from those expressed in any fo
Slide 3: Vision: Enable the future of computing & imaging with OLED technology
Vision: Enable the future of computing & imaging with OLED technology 3
Slide 4: Key Messages
Key Messages The only US manufacturer of OLED microdisplays; a technology leader with proprietary and 1 patented direct patterning technology (dPdTM) for ultrahigh brightness in color 2 Uniquely positioned to capitalize on growing addressable markets in military, industrial and consumer for high bri
Slide 5: eMagin at a Glance
eMagin at a Glance Headquarters: Hopewell Junction, NY Manufacturing: U.S. Domiciled The technology leader in OLED Displays. Employees: 100+ Revenue: $26.7M in 2019 • 92% from Product Sales, 8% Contracts • 53% U.S., 47% International • 27 countries served Market Cap: $74M* Exchange: EMAN on NYSE Mak
Slide 6: Growth Strategy
Growth Strategy Leverage commercial and consumer electronics customer relationships for AR/VR opportunities Develop partnerships for high volume manufacturing Grow commercial and industrial presence Expand military and aviation market share Deepen penetration of leading-edge dPdTM technology Increas
Slide 7: The Future of AR/VR Powered by dPd
The Future of AR/VR Powered by – dPd™ Low Brightness AR* High Brightness AR* • Conventional OLED microdisplays use white OLED with color filters • Color filters absorb ~80% of the useful light; limited brightness and inefficient • Only eMagin has Direct Patterned microdisplay technology for direct e
Slide 8: Deep Application Expertise & Broad IP Portfolio
Deep Application Expertise & Broad IP Portfolio Patents Know-how • 45 patents issued and 41 pending • Includes Silicon backplane, OLED • Includes silicon backplane, OLED architecture, process and packaging architecture, process and packaging • Back-plane design • Key patents include ultra-high • Ano
Slide 9: Military & Aviation
Military & Aviation Profile Customers • Predominately sole-source supplier • Differentiated performance and leader in brightness • Visible in bright sunlight • High contrast for detail • First mover in AR/VR for domestic and foreign military applications • Global market leadership - U.S. Army, Air F
Slide 10: Commercial & Medical
Commercial & Medical Profile • Products provide high reliability in stressful environments • Visualize digital information and imagery • Successful in supplying to medical imaging devices, thermal cameras and hunting scopes • Recent customer wins include: • $780,000 order from an existing medical de
Slide 11: Commercial & Consumer
Commercial & Consumer Profile AR Forecast by IDC Augmented reality for • Equipment repair • Factory automation • Service technicians Virtual reality for • Vehicle design • Training and simulation • Consumer gaming and entertainment eMagin is the only company with VR Forecast by IDC technology
Slide 12: Manufacturing Footprint - Made in the USA
Manufacturing Footprint - Made in the USA Hopewell Junction, NY (Headquarters) Class 10 Clean Room Operations • Lease ~42,000 square feet of space • Houses own equipment for OLED microdisplay fabrication, assembly operations, R&D and product Photo-Lithography Metal Deposition OLEDDeposition developm
Slide 13: Senior Management Team
Senior Management Team • Over 20 years experience in OLED technologyand manufacturing Andrew Sculley • Led Kodak OLED Systems CEO • MS Physics Cornell, MBA Carnegie-Mellon • Pioneering inventor of disruptive OLED technology at eMagin and Kodak Dr. Amal Ghosh • PhD Physics MIT COO • Past President of
Slide 14: Key Messages
Key Messages The only US manufacturer of OLED microdisplays; a technology leader with proprietary and 1 patented direct patterning technology (dPdTM) for ultrahigh brightness in color 2 Uniquely positioned to capitalize on growing addressable markets in military, industrial and consumer for high bri
Slide 15: Appendices
Appendices rr . AeMagin © 2020.eMagin Corporation Proprietary Information
Slide 16: Consolidated Statement of Operations
Consolidated Statement of Operations Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Revenues: Product $ 6,978 $ 7,321 $ 18,872 $ 17,786 Contract 333 598 2,870 1,606 Total revenues, net 7,311 7,919 21,742 19,392 Cost of revenues: Product 5,385 5,112 15,153 14,436
Slide 17: Adjusted EBITDA
Adjusted EBITDA $ in thousands Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net loss $ (3,531) $ (315) $ (7,731) $ (4,092) Non-cash compensation 60 165 147 455 Change in fair value of common stock 1,803 (120) 3,304 (1,450) Depreciation and intangibles amortiza
Slide 18: Consolidated Balance Sheet
Consolidated Balance Sheet Se pte mbe r 30, De ce mbe r 31, 2020 2019 ASSETS C urre nt asse ts: Cash and cash equivalents $ 10,283 $ 3,515 Restricted cash 1,800 — Accounts receivable, net 3,178 3,966 Unbilled accounts receivable 31 155 Inventories 8,133 8,832 Prepaid expenses and other current asset