Slide 1: Microsaic Systems plc Annual Results 2018
Microsaic Systems plc Annual Results 2018 Investor Presentation March 2019 CEO: Glenn Tracey CFO: Bevan Metcalf ©Microsaic Systems 2019
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements regarding the Company's plans, expectations, estimates and beliefs. Forward-looking statements are typically identified by words such as "believes," "anticipates," "intends," "will," "may" and other similar expressions.
Slide 3: Introductions
INTRODUCTIONS GLENN TRACEY – CHIEF EXECUTIVE OFFICER 20+ years’ experience in scientific instruments, including human and environmental health. Previously at global life sciences company PerkinElmer. Joined in March 2015, appointed to the Board in December 2015. BEVAN METCALF – FINANCE DIRECTOR 35+
Slide 4: About Microsaic Systems
ABOUT MICROSAIC SYSTEMS Spun out from Imperial Compact MS, based on patented chip Launched 2013, >130 College, 2001 technology (>60 patents); can measure instruments sold to date small and large molecules in-situ (point of need) Strategic focus areas: Immediate sales growth in traditional analytical
Slide 5: 2018 Key Events
2018 KEY EVENTS Unit sales double those of Signed seven new Widened commercial Completion of large-protein Detector, 2017, half from new commercial agreements, reach, in EU, North the Microsaic MiD® ProteinID, ranked customers, revenues +69%, with two OEM partners and America, China and SE among the
Slide 6: Partnership Signings in 2018
Signed pre 2018 PARTNERSHIP SIGNINGS IN 2018 Signed 2018 Prior to 2018 2018 2019 targets OEM Agreements New OEM signings in 2018 • Gilson Inc – global supplier of lab purification equipment - focus • Unimicro Technologies – supplier of nano Capilliary Electrophoresis equipment - China on North Ameri
Slide 7: Validation of Bioprocessing Market with Our Technology
VALIDATION OF BIOPROCESSING MARKET WITH OUR TECHNOLOGY Compelling Relationship with MiT, opportunity for Further phases with will be augmented Microsaic’s global partner halted, with PhD studentship technology in as it focuses resources to establish long-term upstream bioprocess on core business sci
Slide 8: Commercial Model
COMMERCIAL MODEL Core Strengths Revenue Generation High technology product R&D collaborations, sale of development, and products, consumables, commercialisation of IP through spares and service to established partner channels distributors and OEMs ©Microsaic Systems 2019 8
Slide 9: Growth Strategy for 2019
GROWTH STRATEGY FOR 2019 Growth of global sales Partner signings in life- Significant sales growth Additional investment in channel through science applications, vs 2018 from existing business development to additional OEM and including bioprocessing and new business drive sales growth, and distribu
Slide 10: Financial Highlights
FINANCIAL HIGHLIGHTS 69% x2 42% Revenues Unit Sales Gross Margin Revenues up 69% at Unit sales double those of 2017, half Gross margin 42% vs 35% £578k (2017: £342k) of which are from new customers last year 8% 42% £5.4m Overheads Basic Loss Per Share Cash Balances Overheads 8% above last year Basic
Slide 11: Investment Case
INVESTMENT CASE Microsaic has well invested and proven IP, and is revenue generating today Target break even with traditional market, with upside in attractive growth markets • Core technology already in place • Substantially advanced route to commercialisation Significant opportunity in biologics p
Slide 12: Financials – Comprehensive Income
FINANCIALS – COMPREHENSIVE INCOME Year to 31 Year to 31 December December 2018 2017 £000’s Revenue 578 342 Units sales up 100% on Cost of sales (336) (221) 2017 Gross profit 242 121 Other operating income 76 51 Gross margin in 2018 of Research and development expenses (874) (894) 41.8% up 6.4% on la
Slide 13: Financials – Financial Position
FINANCIALS – FINANCIAL POSITION £000s Year to 31 Year to 31 December December 2018 2017 Non-current assets 220 227 Cash balances £2.2M higher following fundraise Cash 5,402 3,182 Inventories 402 483 Inventories down and receivables up on Other current assets 709 481 higher revenues Current assets 6,
Slide 14: Financials – Cash Flow
FINANCIALS – CASH FLOW £000s Year to 31 Year to 31 December December 2018 2017 Net cash used in operating activities (2,716) (2,451) Net cash used in investing activities (115) (96) Successful fundraise in June raising £5.05M net Net cash from financing activities 5,051 - Net (decrease)/increase in
Slide 15: Appendices
Microsaic Systems plc APPENDICES ©Microsaic Systems 2019
Slide 16: Other Board Members' Bios
OTHER BOARD MEMBERS’ BIOS PETER GRANT – NON-EXECUTIVE CHAIRMAN • 40 years experience, half at listed company board level, covering both London main market (up to FTSE 250) and AIM, including Skyepharma PLC, WorldPay Group plc, Molins PLC and various senior positions at The General Electric Co. PLC G
Slide 17: Corporate
CORPORATE Executive Directors Share Information Share price (07/03/19) 1.35p • Glenn Tracey (CEO) PerkinElmer* Shares in circulation (07/03/19) 456.4M • Bevan Metcalf (FD) ICI*, GSK*, Orion* Market cap (07/03/19) 6.2M Debt Nil Non-Executive Directors Significant Shareholders > 3% (31/12/18) • Peter
Slide 18: Microsaic Systems plc
Microsaic Systems plc Head office Microsaic Systems GMS House Boundary Road Woking Surrey GU21 5BX +44(0)1483 751577 info@microsaic.com ©Microsaic Systems 2019