Palladyne Ai Corp. · NASDAQ:PDYN
Palladyne Ai — Q4 2022 Earnings Presentation
31 slides from Palladyne Ai's earnings presentation, Mar 16, 2023
Slide 1: Investor Presentation
INVESTOR PRESENTATION NASDAQ: STRC March 2023
Slide 2: Legal Disclaimer
DISCLAIMER LEGAL DISCLAIMER This presentation and any related oral statements contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, statements regarding Sarcos’ future operating results, financial position, liquid
Slide 3: About Sarcos
ABOUT SARCOS DEVELOPER AND PROVIDER OF DEXTEROUS ROBOTIC SYSTEMS DESIGNED TO MASTER DANGEROUS AND UNSTRUCTURED ENVIRONMENTS. Large Target Markets Extensive R&D Aviation, Construction, Power & Utilities $375+ million and 30+ years invested (inclusive of Solar), Subsea Deep IP Portfolio Technical Expe
Slide 4: The Sarcos Mission
THE SARCOS MISSION Prevent injury and increase worker productivity and longevity through robotics Addressing Sarcos Technology and Robotics Corporation designs, develops, and deploys a broad range of • Labor Shortages advanced mobile robotic systems. • Aging Workforces Able to operate in challenging
Slide 5: Key Investment Rationale
KEY INVESTMENT RATIONALE COMMERCIALIZING R&D INVESTMENT INTO HUGE MARKET OPPORTUNITIES • Massive market opportunity with solutions that address many use cases across numerous huge end markets including power and utilities, aerospace, defense, and construction • Focus on significant near-term commerc
Slide 6: Sarcos Robotic Solutions
SARCOS ROBOTIC SOLUTIONS Guardian robots are end-to-end systems, not Guardian Robot market-specific solutions Guardian: one who guards, protects, or preserves • Teleoperation and supervised autonomy are protecting the operator Base Other • Every robot we design and produce is created to Component en
Slide 7: Asset-Light Approach to Manufacturing
ASSET-LIGHT APPROACH TO MANUFACTURING ADDITION OF CONTRACT MANUFACTURER TO ENABLE SCALABILITY INSOURCED DEVELOPMENT OUTSOURCED PRODUCTION Process Engineering Rapid Maturating Engineering Rapid Development Prototyping Enabling Development Prototyping Transfer Design for Excellence & Value Engineering
Slide 8: Sarcos Solutions Gaining Traction
SARCOS SOLUTIONS GAINING TRACTION R&D Pre-Commercialization Commercialization Sarcos Founded Acquired RE2 Began production of XM Contract Manufacturer Scale deployments of XT and Sea Class 1983 2022 (Q2) 2022 (Q3) 2023 (Q1) 2023 (Q4) 2020 2022 (Q2) 2022 (Q4) MID-2023 Fully electric & semi- Achieved
Slide 9: $606 Billion Global Target Market in 2029
$606 BILLION GLOBAL TARGET MARKET IN 2029 1 SCALE & EFFICIENCY TRANSCEND INDUSTRIES & APPLICATIONS LARGE GLOBAL ADDRESSABLE MARKET END MARKETS & APPLICATIONS l Solar field installation POWER & l Powerline and transformer maintenance UTILITIES $606.7 B l Infrastructure inspection Total Addressable1 A
Slide 10: Robotic Solar Module Installation Solution
J Sarcos Robo 4! § olar-Module Installation,Solution » . IS % ~ Acknowledgment: This material is based uponWork supported by the U:: f Energy's ergy Efficiency Sab Renewable Energy (EERE) under the Solar Energy Technologies Office Award Number DE-EE00093: » / \ WZ j a" pe \ . * | ‘ / | f f
Slide 11: Power & Utilities -- Solar Energy
POWER & UTILITIES -- SOLAR ENERGY SOLAR FIELD PANEL INSTALLATION SOLAR ENERGY TAM ($B)4 CAGR 6.9% $374 $287 $235 2022 2025 2029 MARKET TRACTION DRIVERS SOLAR MODULE INSTALLATION ROBOTICS MARKET SAM5 Secured program with Department of Energy in partnership with Solar was 39% of new generating capacit
Slide 12: Aerospace / Aviation
AEROSPACE / AVIATION SEMI-AUTONOMOUS AIRCRAFT SERVICING (CARGO DOOR, BAGGAGE, WATER) AEROSPACE / AVIATION TAM ($B)4 CAGR 10.32% $69 $46 $35 2022 2025 2029 AIRCRAFT MAINTENANCE & GROUND MARKET TRACTION DRIVERS SERVICE ROBOTICS MARKET SAM5 Developing airport automation solutions with lighthouse High p
Slide 13: Construction
CONSTRUCTION SURFACE PREPARATION, MATERIAL TRANSPORT, AND BUILD/REPAIR CONSTRUCTION TAM ($B)5 CAGR 3.9% $156 $134 $119 2022 2025 2029 MARKET TRACTION DRIVERS CONSTRUCTION ROBOTICS MARKET SAM6 NAVSEA REPTX field trials in two ports. > 375K unfilled jobs, as of July 20221. 40%+ of current workforce 20
Slide 14: Subsea
SUBSEA SHIP HUSBANDRY, MAINTENANCE, INSPECTION, SALVAGE SUBSEA TAM ($B)2 CAGR 13.2% $8 $5 $3 2022 2025 2029 MARKET TRACTION DRIVERS UNDERWATER ROBOTICS MARKET SAM3 Fully integrated with VideoRay® Defender ROV (Remotely Current US deficit in shipbuilding and repair threatens Operated Vehicle), the le
Slide 15: Guardian Autonomous Underwater Manipulation
SF SARCOS, Cy, GUARDIAN’ Autonomous Underwater Manipulation
Slide 16: Planned Robot Services Platform / Sarcos Portal
PLANNED ROBOT SERVICES PLATFORM / SARCOS PORTAL DESIGNING ROBOT SERVICE PLATFORM TO DELIVER SARCOS PORTAL FEATURES Sarcos Portal Business Web Services Products Case Platform Customer Support / Sarcos Fleet Support fielded Management Guardian Sea robots Class Wi-Fi Data Analytics Gather operational i
Slide 17: Planned Sarcos Software as a Service Opportunity
PLANNED SARCOS SOFTWARE AS A SERVICE OPPORTUNITY 1 Options4 Service Supervised Autonomy Intelligent Teleoperation Task Libraries Simulations/Mixed Reality Fleet Management/ Digital Twin SaaS App/ Implementation & Control Remote Monitoring (1x Service Fee) (App fee varies) (App fee varies) (1x Servic
Slide 18: Task Complexity & Variability
FLEXIBILITY FOR DYNAMIC INDUSTRIAL ENVIRONMENTS SARCOS IS STRONGLY POSITIONED TO ADDRESS COMPLEX & HIGHLY VARIABLE 4 TASK COMPLEXITY & VARIABILITY 5 5 5 2 1 5 2 5 5 2 3 6 3 6 6 3 6 6 SIMPLE & REPEATABLE STRUCTURED ENVIRONMENT UNSTRUCTURED 18 SARCOS PROPRIETARY 1. Solar market only 3. Construction ma
Slide 19: Environmental, Social, Governance
ENVIRONMENTAL, SOCIAL, GOVERNANCE SARCOS IS A NATURAL FIT WITH ESG PRINCIPLES Environmental • Enabling a speedier transition to solar energy • Robotic systems are all electric Social • Robotic technology eliminates the need to put workers in many dangerous situations • Upskill workers from manual la
Slide 20: Financial Highlights
FINANCIAL HIGHLIGHTS ~$6.1M* Revenue in Q4 2022 Revenue $4.7M Revenue for Q3 2022 Profile $13-15M Revenue Guidance for 2022 ~$14.6M* Revenue in 2022 Gross 24% Gross Margin for Q3 2022 $114.5M Margin and $135M Cash and Cash Equivalents at Cash and Cash Equivalents Liquidity 9/30/22 at 12/31/22 20 SAR
Slide 21: Kiva Allgood
Technology executive with public company experience leading multi-billion-dollar business units • 20 years' experience commercializing complex technologies • Instrumental in bringing to market: Online banking and Motorola Razr Global Head of IoT and Automotive ERICSSON Chief Commercial Development O
Slide 22: Use this box if you have footnotes; otherwise delete
www.sarcos.com linkedin.com/company/sarcos 888-927-7296 Use this box if you have footnotes; otherwise delete
Slide 23: Appendix
APPENDIX
Slide 24: The Modern-Day Shipyard and Tarmac
THE MODERN-DAY SHIPYARD AND TARMAC “It is imperative for the U.S. Navy to find solutions that will “We owe it to the best airline employees on the planet to enable us to maintain mission-readiness, particularly while explore how emerging technology can make their jobs safer at sea. Technologies for
Slide 25: Autonomous Port and Military Use Cases
AUTONOMOUS PORT AND MILITARY USE CASES Expeditionary EOD Ship Inspection & Salvage Infrastructure • 300m or less Maintenance • Up to 2000m • Locks, dams, power plants • RIB deployed • Near surface • Hook & line • Intake inspection & debris - Launch & recovery from RIB • Launch & recover from ship re
Slide 26: Aviation Use Cases
AVIATION USE CASES De-icing Aircraft Surface Preparation Baggage Handling Ground Services • Gate Services • Removal • Bag Room • Under-Apron Services (corn starch blasting) - Semi-autonomously apply de-icing fluid - Semi-autonomous movement of bags - Use cases range from semi- to the aircraft while
Slide 27: Solar Energy Use Case
SOLAR ENERGY USE CASE ROBOTIC SOLAR MODULE INSTALLATION Autonomously pick and place Photovoltaic Panel (PV) modules delivery to installation on racking systems O-AMPP project: Which began in 2021 with funding support from the U.S. Department of Energy Solar Energy Technologies Office (SETO), aims to
Slide 28: Construction Use Cases
CONSTRUCTION USE CASES SURFACE PREPARATION Plasma / laser ablation to remove Media blasting to remove paint & rust material from the side of the ship 28 SARCOS PROPRIETARY
Slide 29: Construction Use Cases
CONSTRUCTION USE CASES At-height Surface At-height Surface At-height Tool Use Removal Cleaning (Commercial Build) • Grinding/Sanding • Power Wash • Power Tools - Cleaning of surfaces (i.e., buildings, - Autonomous or teleoperated use of - Removal of surface coatings using bridges, windows, etc.) to
Slide 30: Leadership Experience
LEADERSHIP EXPERIENCE Kiva Allgood Jim “Hondo” Geurts Lisa Johnson President, CEO & Director Executive Vice Chairman VP, Supply Chain and Quality Ericsson, GE Ventures, Qualcomm US Navy, USSOCOM, US Air Force Boeing Supply Chain Executive Drew Hamer Dr. Denis Garagić Jorgen Pedersen Chief Financial
Slide 31: Board of Directors
SARCOS TECHNOLOGY AND ROBOTICS CORPORATION BOARD OF DIRECTORS Ben Wolff Brian Finn Laura Peterson Director, Co-Founder, Sarcos CEO (former), Credit Suisse VP (former), The Boeing Company Board of Directors: Globalstar Board of Directors: Scotts Miracle- Board of Directors: Air Transport Gro; Owl Roc