Plover Bay Technologies Ltd. · HKEX:1523
Plover Bay Technologies — H1 2025 Earnings Presentation
24 slides from Plover Bay Technologies's earnings presentation, Jul 31, 2025
Slide 1: Enabling Supercharged Connectivity: Interim Results 2025
Enabling Supercharged Connectivity Interim Results 2025 31 July, 2025
Slide 2: Our Vision, Who Are We, Key Facts
Our Vision We make connectivity reliable, anytime, anywhere Who Are We? Plover Bay Technologies Limited (stock code: 1523 HK) develops networking Key Facts technologies that enable supercharged connectivity. By combining fixed, mobile and satellite connectivity, users can build always-on networks any
Slide 3: What is Connectivity?
Expectation ● Connectivity should be simple ● Connectivity should always work ● Connectivity should be cost effective ● Connectivity should be easily accessible What is Connectivity? Reality ● Existing solutions overcomplicate ● Fixed lines cannot reach everywhere ● Mobile is not 100% reliable ● The
Slide 4: What We Do: Supercharging Connectivity
What We Do Supercharging Connectivity Connectivity Software & Cloud Services Connectivity Software & Cloud Services Supercharged Fiber/ Consumer Broadband 5G/LTE SpeedFusion ● Faster, more reliable network ● Deploy anywhere Passion Driven ● Enable new use cases Partner Community Private LEO 5G/LTE S
Slide 5: Supercharged Connectivity Progress: Peplink-Starlink Collaboration
Supercharged Connectivity Progress Peplink-Starlink Collaboration Expanded Offerings Recent Peplink-Starlink deployments SIEM Shipping Relies on Peplink to integrate Starlink, 5G, and Iridium for seamless connectivity across its Ro-Ro fleet. The solution provides connectivity up to 85 km offshore, en
Slide 6: Growing Partner Ecosystem
Supercharged Connectivity Progress Growing Partner Ecosystem Partner Network Iridium & Peplink & Community Growth Peplink Global Summit The Netherlands, May 2025 +33% Increase in Number of ASPs ANZ Bonding Summit Australia, March 2025 Entered into agreement to cross-promote Peplink and Iridium solut
Slide 7: Supercharging HYROX Events
Supercharged Connectivity Progress Supercharging HYROX Events x Starting with the 2025/26 season, Peplink will enhance HYROX events globally with the implementation of Peplink-branded Wi-Fi zones. Bonded fiber, Starlink, and 5G links powered by Peplink routers ensures zero downtime for competitor reg
Slide 8: Deployment at Scale
Supercharged Connectivity Progress Deployment at Scale Over 1,700 remote Polish railway sites were connected in just 60 days with Peplink, replacing outdated infrastructure with dual 5G routers. With Bandwidth Bonding, Hot Failover, and InControl remote management, the rollout ensured stable MPLS co
Slide 9: Our Products Continue to Improve
Supercharged Connectivity Progress Our Products Continue to Improve Key Improvements to Peplink Ecosystem Expanding Product Range SpeedFusion Connect App InControl2 Update New range of edge computing capable Launched on iOS, a simple app that improves Improved reporting and management for products a
Slide 10: Market Trend and Product Roadmap: Edge Computing
Market Trend and Product Roadmap Edge Computing Data Processing Nodes Applications With the advancements in computing power , edge routers will likely become data processing nodes to reduce dependence on centralized cloud servers. Edge Computing Ready IoT Operations Peplink routers will evolve into
Slide 11: Market Trend and Product Roadmap: Fixed Wireless Access Market
Market Trend and Product Roadmap Fixed Wireless Access Market FWA Adoption by Businesses New FWA-Centric Products and Subscriptions FWA is becoming more common in homes and small offices. Connectivity costs have come down significantly making it very feasible to combine multiple Multi-WAN Routers for F
Slide 12: Investment Highlights: Growing Need for Better Connectivity
Investment Highlights 1. Growing Need for Better Connectivity Market trends from 2023 to 2030: ● Number of IoT connections increasing at 16% CAGR¹ ● Mobile data traffic expected to increase at 19% CAGR¹ ● 4G & 5G FWA connections expected to grow from 130 million to 330 million¹ Growth opportunities: ●
Slide 13: Investment Highlights: Growing Peplink Ecosystem
Investment Highlights 2. Growing Peplink Ecosystem Access to a Wide Range of Industry Verticals Subscription-Enabled Top 10 Verticals by Number of Deals Won (6/2025) Convenience Features Proprietary Connectivity Enterprise* 25% Technologies SpeedFusion Public Services** 18% Maritime 10% Public Safet
Slide 14: Investment Highlights: Growing Recurring Revenue Pipeline
Investment Highlights 3. Growing Recurring Revenue Pipeline Strategies to drive subscription growth: ● Grow user base with capable devices at competitive price points ● Reduced complexity for partners to sell and manage subscriptions at scale ● New features and convenience to drive subscription rate
Slide 15: Interim Results 2025
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Slide 16: Financial Summary
Financial Summary Financial summary Period ended 30 June YoY (US$’000, unless otherwise stated) 2024 2025 (%) Revenue 57,298 62,943 +9.9% Gross profit 31,745 34,963 +10.1% Operating expenses (9,745) (10,151) +4.2% Other income & gains and Finance cost 710 1,765 +148.6% Profit before tax 22,710 26,577
Slide 17: Revenue by Product Segment
Revenue by Product Segment Segment Period ended 30 June YoY (US$’000) 2024 2025 (%) Comments Overall, Fixed and Mobile First Connectivity revenue increased 8.6% YoY Fixed First Connectivity 8,752 7,616 -13.0% During the period, sales of single and dual cellular routers in Mobile First grew at a fast
Slide 18: Revenue by Region
Revenue by Region Region Year ended 30 June YoY US$ thousands 2024 2025 (%) North America 36,761 34,394 -6.4% EMEA 14,725 20,497 +39.2% Asia 4,061 5,862 +44.3% Others 1,751 2,190 +25.1% Total 57,298 62,943 +9.9% 18
Slide 19: Recurring Revenue
Recurring Revenue Period ended 30 June Recurring Revenue highlights Recurring vs Non-recurring (US$’000) 2024 2025 YoY ● Recurring revenue accounted for 28.1% of total sales Non-recurring revenue 41,566 45,245 8.9% ● No. of devices with a subscription at 6/2025 increased 17.7% YoY ● Take up rate* at
Slide 20: Gross Margin
Gross Margin Continued margin improvement during the period ● Gross margin has increased from 55.4% in 1H24 to 55.5% in 1H25 ○ Prices and gross margin at product level remains largely stable ○ Decrease in Fixed First margin was due to product mix shift towards high-volume products ○ No impact from t
Slide 21: Operating Expenses
Operating Expenses Operating expenses Period ended 30 June % of revenue (US$’000) 2024 2025 2024 2025 Selling & Distribution expenses 1,853 1,821 3.2% 2.9% General & admin expenses 3,688 3,710 6.4% 5.9% Research & development 4,204 4,620 7.3% 7.3% Total Operating expenses 9,745 10,151 16.9% 16.1% 21
Slide 22: Balance Sheet and Cash Flow Highlights
Balance Sheet and Cash Flow Highlights Balance Sheet Summary Period ended Working capital turnover days Period ended (US$"000) 6/2024 12/2024 6/2025 (Number of days) 6/2024 12/2024 6/2025 Trade and other receivables 20,204 20,182 30,684 Trade and other receivables 68 days 67 days 74 days Inventories
Slide 23: Revenue Recognition of Different Segments
Appendix Revenue Recognition of Different Segments Segment Product / service Description Revenue Model Enterprise routers Fixed First Connectivity Network switches ~85% of selling price non-recurring ● Hardware plus 12 months’ embedded warranty and access to software Mobile routers features ~15% of
Slide 24: Thank You
Thank You Disclaimer Plover Bay Technologies Limited is listed on the Hong Kong Stock Exchange (Ticker: 1523 HK). Plover Bay Technologies Limited is incorporated in the Cayman Islands with limited liability. The information contained in this presentation is intended solely for your personal referenc
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