Slide 1: Full Year 2024 Results
Full Year 2024 Results March 31, 2025
Slide 2: Disclaimer
DISCLAIMER The information contained in this document (the “Presentation”) has been prepared by Spectra Systems Corporation (the “Company”) solely for informational purposes. All statements of opinion and/or belief contained in this Presentation and all views expressed represent the directors’ own c
Slide 3: Financial highlights
Financial highlights • Revenue of $49,191k (2023: $20,288k) up 142.5% • Adjusted EBITDA up 77.9% at $14,929k (2023: $8,394k) • Adjusted PBTA up 46.6% to $12,064k (2023: $8,231k) • Adjusted earnings per share up 36% to US 18.9 cents (2023: US 13.9 cents) • Cash generated from operations of $9,899k (2
Slide 4: Revenue and PBTA adjustments
Revenue and PBTA adjustments • Revenue expected in 2025 came earlier in 2024 so the increase in 2024 reduced 2025 • This revenue has a small margin associated with it so $400k came off 2025 reducing the previous target by 1.6% • 2026 revenue was reduced because we are restructuring Cartor, as promis
Slide 5: Dividend Explanation
Dividend Explanation • Dividend was held constant and not increased • lots of cash coming in • In 2025, we will have $2MM of restricted cash released and expect ~$10M of sensor cash Dividend was held constant to more rapidly build up the company’s cash position in anticipation of a small yet strateg
Slide 6: Business Update
Business Update 5
Slide 7: How Cartor acquisition changed our rate of product commercialization
How Cartor acquisition changed our rate of product commercialization • Before Cartor : [11months to 24months] • Nabil and R&D boffins develop a new technology • Test it in-house • Make laboratory samples • Wait, wait, wait… wait ( 2-3 months) open a dialogue with a target customer or partner Wait, w
Slide 8: How Cartor acquisition changed our rate of product commercialization
How Cartor acquisition changed our rate of product commercialization • Since the acquisition of Cartor : [3 weeks to 12 weeks] • Nabil and R&D boffins develop a new technology • Test it in-house • Make laboratory samples • ( 1-3 weeks) open a dialogue with a target customer or partner that is a cust
Slide 9: Covert material sales
Covert material sales • Completed central bank order placed in October 2023 • Received 2024-2025 central bank order at the higher end of pre-Covid-19 average volumes • Ordering from licensee continued through 2024 (~$375K) • Same level expected in 2025 8
Slide 10: Covert material sales pipeline
Covert material sales pipeline • Completed R&D on two new Level III security features • can be used in paper and polymer substrates • machine readability at high speed demonstrated • portable units developed and being shown • Began qualification trials for use in passports • EU country passport • In
Slide 11: Authentication hardware and systems
Authentication hardware and systems • Sensors successfully passed “pre-factory acceptance” testing stage with customer • Factory acceptance in Q2 • Product acceptance in May-June of 2025 • Production expected to deliver systems beginning June with 60-80 units in 2025 • Replenishment of cash ~$10M •
Slide 12: Optical materials authentication update
Optical materials authentication update • 2024 highest K-Cup optical materials revenue to date • New version of smartphone technology developed in 2024 • broader device compatibility, faster, and easier to use • previous version of the technology was bottlenecked at $150k • cigarettes and stationery
Slide 13: Fusion substrates: closing in on the prize
Fusion substrates: closing in on the prize TM • Highly successful presentation and presence at Banknote 2024 • Central Bank traction: • Qualification testing with printers: • Brazil • PWPW-completion in Q2 2025 • Philippines • Oberthur Technologies -Completed 13
Slide 14: Brazil house note
Brazil house note • In 2024 we provided our covert machine-readable substrate made with sustainability conscious circular certified polymer to the Central Bank of Brazil to target the first commemorative note in Brazil • Goal is to convince the government to change to polymer • This will be showcase
Slide 15: Oberthur house note
Oberthur house note • In 2024 we provided our covert machine-readable substrate made with sustainability conscious circular certified polymer to Oberthur Technologies for their 2025 house note that they will use as part of their sales efforts 15
Slide 16: Middle-eastern central bank partner and potential customer qualification
Middle-eastern central bank partner and potential customer qualification • We have successfully passed all print and substrate trials: • Offset Foils have adhesives are taylor made • Intaglio for the specific polymer surface • Window design • CCL • DLR • Abrasion • Spectra • Crumpling • Mechanical t
Slide 17: Central bank partner and potential customer: next steps
Central bank partner and potential customer: next steps • Final test integrating of all security features and requirements in full manufacturing line in • 500,000 notes worth of sheets (10,000) arrived this week • Testing delayed by Ramadan to Q2 of 2025 • We are optimistic that this will be followe
Slide 18: Potential news float
Potential news float • Adoption and sale of ink and software support for Tax stamps: • EU country (~500,000,000 tax stamps per annum) • Large middle eastern country ( ~5,000,000,000 tax stamps/annum for 3 years) • Adoption of our newest covert feature for EU passport • Qualification of new covert pa
Slide 19: Thank you!
Done SO THANK YOU!