Satixfy Communications — SPAC Merger (March 2022)
40 slides from Satixfy Communications's SPAC merger presentation, Mar 8, 2022
Slide 1: Investor Presentation March 2022
Investor Presentation March 2022
Slide 2: Disclaimer: Cautionary Notes
2 Disclaimer Cautionary Notes This presentation is for informational purposes only. This presentation shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitat
Slide 3: Disclaimer (Continued): Forward-Looking Statements
3 Disclaimer (Continued) Forward-Looking Statements Please note that this confidential presentation regarding SatixFy, including any accompanying oral presentation, is designed to focus on the company’s progress and achievements, not all material developments; may discuss uses of the company’s produ
Slide 4: Disclaimer (Continued): Financial Information
4 Disclaimer (Continued) Nothing in this presentation should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. None of Endurance, SatixFy or
Slide 5: Disclaimer (Continued): Use of Projections
5 Disclaimer (Continued) Use of Projections This presentation contains financial forecasts with respect to SatixFy’s projected financial results for the fiscal years 2021 through 2026. These projections should not be relied upon as being necessarily indicative of future results. The assumptions and
Slide 6: Disclaimer (Continued): Additional Information and Where to Find It
6 Disclaimer (Continued) Additional Information and Where to Find It This presentation relates to a proposed transaction between SatixFy and Endurance. This presentation does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall th
Slide 7: Transaction Overview
7 Transaction Overview ___________________________ Note: The Company expects to put in place $75mm of committed equity facility prior to the close of the transaction. 1. Warrants are 5 years, $11.50 strike price (pari passu with and having the same terms as the detachable Redeemable Warrants from th
Slide 8: Endurance Acquisition Corp. ("EDNCU") Overview
8 Endurance Acquisition Corp. (“EDNCU”) Overview ___________________________ Source: Company Information. Endurance Acquisition Corp. (NASDAQ: EDNCU) is a Nasdaq-listed blank check company sponsored by Antarctica Data Partners Reputation as sector experts and viewed as strategic investors by target
Slide 9: Investment Highlights
9 Integrated fabless semiconductor and communications product supplier enabling satellite based broadband delivery to markets around the world As of the end of 2021, the Company has spent over $180mm on R&D to create what we believe are the most advanced satellite and ground terminal chips in the wo
Slide 10: Key Differentiators
10 Key Differentiators To our knowledge, SatixFy is the only vertically integrated semiconductor chip company providing products across the entire satellite communications value chain SatixFy designs its chips, builds its products, codes its software and designs end-to-end systems that use its techn
Slide 11: Experienced Founders with a History of Value Creation
11 Experienced Founders with a History of Value Creation Co-Founder and CEO of SatixFy since inception in 2012 Awarded the prestigious Israeli Defense Award, twice Founder, Chairman and CEO of Gilat Satellite Networks from 1987–2003 (Employee #001) Took Gilat public in 1993 on the Nasdaq and during
Slide 12: SatixFy at a Glance
12 Latest achievements Ground Infrastructure Aero Terminal Gen.2 Payload and Terminal SatixFy at a Glance 30 issued patents and 31 patent applications in the US, UK, China, Israel and the EU, 22 granted to date Management with 35 years of experience in the satellite communications industry Wide port
Slide 13: Large and Growing Market Opportunity
13 Large and Growing Market Opportunity
Slide 14: Paradigm Shift in Space Industry is a Massive Opportunity for SatixFy
14 Paradigm Shift in Space Industry is a Massive Opportunity for SatixFy Tens of thousands of Low Earth Orbit (LEO) broadband satellites(1) are being deployed, all featuring on-board processors and electronically steerable antennas Millions of low-cost User Terminals are needed(1) with electronicall
Slide 15: Key End Markets
15 Key End Markets Aero OEMs are updating their airplanes to support multibeam and higher data rates of LEO systems Chips Terminals, gateways and satellite payloads all require chips providing wide bandwidths, beam-hopping and beamforming functions LEO Constellation Payloads Tens of thousands of new
Slide 16: LEO Opportunity for SatixFy of $10bn+
16 LEO Opportunity for SatixFy of $10bn+(1) Satellite industry is undergoing a major change with over $100bn(2) being invested in the next few years to build and launch massive LEO communications constellations SatixFy products are based on unique technology and proprietary chip designs that comply
Slide 17: Inflight Connectivity Opportunity
17 Inflight Connectivity Opportunity Multibeam, multi-modem is agnostic to satellite or service provider Can be installed during one overnight maintenance “A Checks” Can be line-fitted as standard equipment at factory No. of aircraft (1) 2019 9,000 2029 17,500 Commercial No. of aircraft (1) 2019 22,
Slide 18: 5G Opportunity
18 5G Opportunity “Direct Satellite-to-Device connectivity offers the capability to reach billions of devices, changing the scale of the satellite industry” NSR, Nov 4th 2021 5G waveform definition includes Non-Terrestrial Networks (NTN), such as Satellite and High Altitude Pseudo Satellite (HAPS) (
Slide 19: Company Overview
— \ \ ©) SatixFy Company Overview
Slide 20: Global Presence
20 Global Presence Modem design centers Antenna systems design center ESMA design center Rad-Hard design center Analog IP center 210 Employees 50 VLSI engineers 50 Hardware and software engineers 20 Algorithms and systems 60 Product and antennas engineers 20
Slide 21: SatixFy's In-House Silicon Chip Family Enables Our Products
21 SatixFy’s In-House Silicon Chip Family Enables Our Products Significant advantage in using self-made ASICs chips Differentiated, protected and significant time to market advantage (3 - 4 years per chip) Prime 1.0 Beat Sx4000 Space (Satellite Payloads) Ground (Terminals, Hubs and Gateways) True Ti
Slide 22: Advanced Products for the Entire Value Chain
22 Advanced Products for the Entire Value Chain Satellite Payloads Prime 2 Beamformer SX-4000 OBP User Terminal Antennas Prime 1 or 2 Beamformer User Terminal and Gateway Modems SX-3099 Modem We believe no other modem chip can provide wide bandwidths and beam- hopping functions We believe no other c
Slide 23: Deep Customer Relationships with Sector Leaders
23 Deep Customer Relationships with Sector Leaders Defense Customers
Slide 24: Financials and Valuation Framework
24 Financials and Valuation Framework
Slide 25: Compelling Financials
25 $40 $86 $166 2022E 2023E 2024E Contracts Signed or in Active Discussions Go-Get Revenue ($6) $0 $23 $47 $71 $113 2021A 2022E 2023E 2024E 2025E 2026E ($7) ($0) $3 $40 $70 $112 2021A 2022E 2023E 2024E 2025E 2026E Compelling Financials Revenue Visibility Rapid Revenue Growth Strong Free Cash Flow Ge
Slide 26: Defining SatixFy's Comparable Universe
26 Defining SatixFy’s Comparable Universe High-Growth Semiconductors Innovative Space Tech de-SPACs Massive and Rapidly Expanding TAM Disruptive, Proven Technology that is Vertically Integrated In-House Silicon Capability & Expertise Strong Backlog with Visibility into Near-Term Growth with Leading
Slide 27: Valuation Benchmarking: EV / 2022E Revenue Multiple
27 Valuation Benchmarking: EV / 2022E Revenue Multiple EV / CY2022 Revenue 9.7x 17.9x 14.6x 13.4x 8.0x 16.3x 16.2x 8.4x n/m n/m SatixFy Wolfspeed Wolfspeed Inc SiTime Corporation Indie Terran Orbital Rocket Labs Planet Labs D-Orbit AST Space Mean: 13.6x Implied SatixFy EV: $887mm Median: 16.2x Impli
Slide 28: Valuation Benchmarking: EV / 2023E Revenue Multiple
28 Valuation Benchmarking: EV / 2023E Revenue Multiple EV / CY2023 Revenue 7.2x 6.6x 10.2x 10.9x 3.7x 3.8x 11.0x 5.5x 12.1x 8.7x SatixFy Wolfspeed Wolfspeed Inc SiTime Corporation Indie Terran Orbital Rocket Labs Planet Labs D-Orbit AST Space EV / CY2023 Growth Adjusted Revenue (1) SatixFy High-Grow
Slide 29: Operational Benchmarking: Superior Revenue Growth and Gross Margin
29 Operational Benchmarking: Superior Revenue Growth and Gross Margin Revenue Growth (CY2022-2024) Gross Margin (CY2022) 103% 117% 37% 23% 91% 217% 51% 55% 347% n/m SatixFy Wolfspeed Wolfspeed IncSiTime Corporation Indie Terran Orbital Rocket Labs Planet Labs D-Orbit AST Space Mean: 168% Median: 136
Slide 30: Appendix
— \ \ ©) SatixFy Appendix
Slide 31: Case Study #1: SatixFy to Develop Ground Infrastructure for Telesat
31 Case Study #1: SatixFy to Develop Ground Infrastructure for Telesat Landing Station Hardware Incorporating SatixFy’s Sx3099 Chip for the Telesat Lightspeed LEO Constellation Chip supports 1 GHz bandwidth SatixFy to provide Landing Station (Gateways) baseband equipment based on its Sx3099 ASIC pac
Slide 32: Case Study #2: OneWeb and SatixFy Cooperate for In-Flight Connectivity
32 Case Study #2: OneWeb and SatixFy Cooperate for In-Flight Connectivity (IFC) Compact Terminal Based on SatixFy’s Electronically Steered Multibeam Antenna (ESMA) technology The tiles, which have been co-developed together with JetTalk, have completed initial testing and are currently being impleme
Slide 33: Comprehensive Patent Portfolio Protecting Critical Technology
33 Comprehensive Patent Portfolio Protecting Critical Technology 10 patents Covering various SatCom aspects Operation of half duplex terminals IoT satellite-based system Allocation of power in a LEO satellite system Operation in very low SNR conditions Satellite Communication Systems 10 patents Cove
Slide 34: Technical Moat has been Enabled by UKSA Funding Through ESA
34 Technical Moat has been Enabled by UKSA Funding Through ESA Finnik Digital Beamformer Chip – Prime RFIC Chip – Beat IoT Product Modem Chip – Sx-3099 Payload Chip – Sx- 4000 Finnik Chip Based Terminal LEO Payload Sapphire Based IoT Concept 10/2018 12/2019 08/2020 03/2021 10/2021 10/2023 10/2023 20
Slide 35: Experienced Executive Management
35 Experienced Executive Management 16 years DIVAYDEEP SIKRI VP and Chief Engineer CHARLIE BLOOMFIELD CEO SatixFy Space Systems 24 years DORON RAINISH Chief Technology Officer 40 years SIMONA GAT President 35 years YOAV LEIBOVITCH Chief Financial Officer 35 years YOEL GAT Chairman and Chief Executiv
Slide 36: Risk Factors
36 Risk Factors Risks Related to SatixFy’sBusiness, Operations and Industry We are an early stage company that has not demonstrated a sustained ability to generate predictable revenues. If we do not generate revenue as expected, our financial condition will be materially and adversely affected. The
Slide 37: Risk Factors (Continued)
37 Risk Factors (Continued) We may not benefit from our investment in the development of new technologies and products. We may not be able to comply with our development contracts with customers, and non-compliance may harm our operations and expose us to potential third-party claims for damages. Lo
Slide 38: Risk Factors (Continued)
38 Risk Factors (Continued) Defects, errors or other performance problems in our software or hardware, or the third-party software or hardware on which we rely, could harm our reputation, result in significant costs to us, impair our ability to sell our products and subject us to substantial liabili
Slide 39: Risk Factors (Continued)
39 Risk Factors (Continued) Risks Related to SatixFy’sIncorporation and Location in Israel Conditions in Israel could adversely affect our business. Investors’ rights and responsibilities as our shareholders will be governed by Israeli law, which differs in some respects from the rights and responsi
Slide 40: Risk Factors (Continued)
40 Risk Factors (Continued) The SatixFy Ordinary Shares and SatixFy Warrants may not be listed on a national securities exchange after the Business Combination, which could limit investors’ ability to make transactions in such securities and subject SatixFy to additional trading restrictions. The ma