Multisensor Ai Holdings, Inc. · NASDAQ:MSAI
Multisensor Ai — Sportsmap Tech Acquisition — SPAC Merger (June 2023)
36 slides from Multisensor Ai's SPAC merger presentation, Jun 16, 2023
Slide 1: Investor Presentation June 2023
Investor Presentation June 2023
Slide 2: Disclaimer and Forward-Looking Statements
This presentation (the “ Presentation ”) is provided for information purposes only and has been prepared to assist interested parties in making their own evaluatio n w ith respect to a potential business combination between SportsMap Tech Acquisition Corp. (“ SportsMap ”) and Infrared Cameras Holdin
Slide 3: Financial Information; Non-GAAP Financial Measures
Financial Information; Non - GAAP Financial Measures The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S - X. According ly, such information and data may not be included in, may be adjusted in or may be presented differently in, the Pro
Slide 4: Transaction Overview
Earnout Strong incentive structure facilitated by an earnout provision whereby 2.4 million additional shares will be released to ICI based on a share price performance target and 2024E revenue target Valuation Transaction implies a $149 million pro forma enterprise value Equates to 6.7x NTM (E) 3 re
Slide 5: Our Team
Gary Strahan CEO Peter Baird CFO Our Team 5 Jeff Guida CIO David Gow Chairman & CEO Steve Winch President
Slide 6: Executive Summary
Executive Summary >
Slide 7: What we do: Integrated Sensing as a Service
What we do: Integrated Sensing as a Service 7 x ICI builds integrated thermal imaging and sensing platforms – including high - resolution thermal imaging along with visible, acoustic, and laser spectroscopy imagers and sensors supported by proprietary edge and cloud software x Sensing platforms are
Slide 8: Why The Sensing as a Service Opportunity Exists Now
Why The Sensing as a Service Opportunity Exists Now 8 90% price reduction over the last 20 years in the cost of infrared thermal components Sensor size decreases support proliferation of use cases SaaS cloud adaptation enabling complex solutions Introduction of Artificial intelligence & big data Red
Slide 9: ICI Snapshot
ICI Snapshot 9 Revenue $6M 2019 $22M NTM (E) ~3.5x Enterprise Customers 2 75 2019 232 2022 ~3.1x Devices & Systems Sold 2020 - 2022 1 >9000 1 Defined as the approximate number of fixed - mount and handheld thermal camera systems sold between January 2020 and December 20 22 2 Defined as Fortune 1000
Slide 10: Investment Highlights
Investment Highlights 10 Full - stack SaaS & sensor solution Suited for complex & demanding environments where high accuracy is paramount Superior sensing thermal technology Creates actionable intelligence from always - on, high fidelity data stream & seamlessly marries devices & software >$14 billi
Slide 11: Thermal Infrared Technology Explained
Thermal Infrared Technology Explained 11 x Infrared radiation is electromagnetic radiation whose wavelength is longer than that of visible light (400 - 700 nm) x Every object gives off thermal radiation, which is energy that can be viewed with an infrared camera x Infrared thermography is the acquis
Slide 12: Our Technology
Our Technology 12 Early Fire Detection Pressure Vessel Monitoring Cloud Broad device portfolio paired with Edge + Cloud software creates transformational solutions Methane Leak Detection Belt System Monitoring Edge Software Platform
Slide 13: Redefining the Market Opportunity
13 Redefining the Market Opportunity ICI is positioned to define and tap into multiple large and growing markets Distribution & Logistics x Conveyor system anomaly detection x Hot spot detection x Process automation x Predictive maintenance x Failure avoidance Oil & Gas Manufacturing Utilities x Gas
Slide 14: ICI's Technology Provides Competitive Differentiation
ICI’s Technology Provides Competitive Differentiation and Delivers Tangible Customer Value 14 Clear, inherent advantages underpin superior solutions for customers Full - stack solution enables easy - to - use customer experience SaaS backbone enables rapid scaling and ability to target multiple end
Slide 15: Business Overview
Business Overview
Slide 16: ICI Smart IR Solution
Archival & Retrieval ICI Smart IR Solution Smart IR Archival & Retrieval : Store infrared and visible videos and data streams on the cloud platform to enable long - term analyses, enhanced AI model training, and data retention compliance Updates : Ongoing cloud and edge software updates to enable ev
Slide 17: ICI Smart IR Dashboard
17 ICI Smart IR Dashboard Home page provides geographic (GIS) overview of Sites, Devices, and Al erts Quick status overview of every Site in the Enterprise Easy access to most recent anomaly Alerts
Slide 18: ICI Smart IR Alerts
18 ICI Smart IR Alerts Real - time Alerts panel to monitor & manage every insight, from detection to Work Order to resolution 18 • Forward Alerts via email • Update Alert status • Generate Work Order through EAM integration
Slide 19: ICI Smart IR Workstation
19 ICI Smart IR Workstation Single pane - of - glass view of every camera, with real - time Alerts and comprehensive video and data archives • View Live and Recorded video streams for every camera • Access temperature data over time for every Region of Interest (ROI) across the Enterprise
Slide 20: Smart IR drives early anomaly detection
ICI’s Smart IR drives early anomaly detection to prevent unscheduled downtime Set Alerts based on custom temperature thresholds for automatic monitoring Select multiple regions of interest (“ROIs”) using full polygon capability 1 2 Edge Cloud Receive automatic Alert notifications and drill down to t
Slide 21: Global On-Line Retailer – Distribution Center Solution
Global On - Line Retailer – Distribution Center Solution 21 ICI’s Smart IR prevents unscheduled downtime 3 - Year Plan 2023 | Phase 1 $3.9M YE ARR 1 On - Line Retailer UK / EU 90 new sites (108 total) ~1000 Incremental Subscriptions 2024 | Phase 2 $13.3M YE ARR 1 On - Line Retailer EU / Japan / Aust
Slide 22: "Big Automaker" Case Study: EV Early Fire Detection
“Big 3 Automaker” Case Study|EV Early Fire Detection 22 H1 2024 | Phase 2 H2 2024 | Phase 3 2023 | Phase 1 2 - Year Plan $125K YE ARR 1 $275K YE ARR 1 $2.5M YE ARR 1 Battery Lab 1a Battery Lab 1b Rollout 1 Site 1 Site 11 Sites 36 Incremental Subscriptions 74 Incremental Subscriptions 1000+ Increment
Slide 23: Smart IR Is Designed to Revolutionize Reliability
Smart IR Is Designed to Revolutionize Reliability Legacy Solutions ICI’s Thermal Sensing as a Service Devices only solution Full stack solution Human operator dependent (expensive, periodic and inconsistent) Fully automated (cost effective, continuous and consistent) Handheld device nodes with perio
Slide 24: Driving New Customer Expansion In Established Verticals
Driving New Customer Expansion In Established Verticals 24 Selected ICI Customers Potential Adjacent Customers Distribution & Logistics Manufacturing Utilities Oil & Gas Global On - Line Retailer Big 3 U.S. Automaker Nationally Recognized Utilities Brand Multinational Energy Corporation
Slide 25: Financial Summary
Financial Summary ‘
Slide 26: Illustrative Per Unit Economics Support Commercial Strategy
Illustrative Per Unit Economics Support Commercial Strategy 26 Note: Represents 2022E unit economics for new customers; assumes 100% attachment rate from Devices to SaaS device sold a verage selling p rice a verage r evenue per device sold 1 $5,000 $5,000 a verage cost of device gross profit per dev
Slide 27: Total Addressable Market in U.S. > $14bn
Total Addressable Market in U.S. > $14bn 27 ▪ Implies potential ARR from SaaS sales of >$5bn per year ▪ Implies aggregate device - sale revenues of >$9bn Potential Fixed - Mount Systems by Vertical – U.S. U.S. only – thousands of systems Commentary Note: Assumes $6,000 ASP for fixed - mount hardware
Slide 28: Inventory / Cash-Free COGS
Inventory / “Cash - Free COGS” 28 ▪ ICI has a large inventory balance of finished goods devices and components ▪ Allows for superior delivery times on competitive devices (2 - 3 days vs. 4 - 6 weeks for competitors) ▪ Provides significant flexibility on device pricing and bundling with SaaS (without
Slide 29: Financial Outlook
Financial Outlook 29 Gross Margin 47% 53% 64% 62% 4 66% Notes: Amounts reflected for historical periods were subject to audits performed under AICPA standards and do not conform to Reg ulation S - X; amounts to be included in the proxy statement relating to the transaction may differ as a result of
Slide 30: Transaction Overview
Transaction Overview
Slide 31: Proposed Transaction Summary: Pro forma capitalization
Pro forma capitalization Shares outstanding 15.9 Price per share $10.00 Equity value $159.0 ( - ) Cash to balance sheet $19.9 (+) Debt 1 $10.0 Enterprise value $149.0 Pro forma ownership Existing ICI shareholders 10.0 Sponsor shares 3.6 SPAC shareholders 1.6 Fees & expenses 2 0.7 Total shares 15.9 P
Slide 32: 2022E Comparable Company Benchmarking Analysis
2022E Comparable Company Benchmarking Analysis 32 Source: S&P Capital IQ as of May 30 th , 2023 1 NTM defined as 7/1/23 – 6/30/24 estimates 2 NTM defined as 7/1/22 – 6/30/24 for ICI; comparable company GM% are LTM to 3/31/23 Enterprise Value / NTM 1 Revenue Gross Margin 2 Peer Average: 6.9x Peer Ave
Slide 33: Comparable Company Benchmarking Analysis: Revenue Growth
Peer Average: 5% Comparable Company Benchmarking Analysis 33 NTM 1 vs LTM 2 Revenue Growth 46% 13% 10% 9% 7% 7% 5% 5% 0% (11%) Source: S&P Capital IQ as of May 30 th , 2023 1 NTM Revenue as 7/1/23 – 6/30/24 estimates 2 LTM Revenue as 4/1/22 – 3/31/23
Slide 34: Appendix
y* oe A opendix
Slide 35: Financial Model Assumptions
Financial Model Assumptions 35 Included in this Presentation are the Company’s estimates of its financial performance for Next Twelve Months from 1 July 202 3 t o 30 June 2024 (the “ Financial Projections ”), based on information known as of the date of this Presentation. The Financial Projections w
Slide 36: Non-GAAP Reconciliation
Non - GAAP Reconciliation 36 Adjusted EBITDA Reconciliation USD in millions 2019 2020 2021 2022 NTM (E) 1 GAAP net income / (loss) $0.9 $32.5 $2.8 ($13.3) - (+) Interest expense / (income) – 0.4 0.4 0.1 (0.1) (+) Income tax expense / (benefit) – 1.1 1.1 1.2 - (+) Depreciation and amortization (inclu