Slide 1: Financial Results & Operational Update
Relentless pursuit of commercial outcomes F I N A N C I A L R E S U LT S & O P E R AT I O N A L U P D AT E H a l f Ye a r e n d e d 3 1 D e c e m b e r 2 0 2 3 K I N G S L E Y H A L L C H I E F E X E C U T I V E O F F I C E R [ A S X . M X 1 ] 28 February 2024 Micro-X HY 24 Results I 1
Slide 2: Important Notice
I M P O R TA N T N OT I C E S C O P E & L I M I T A T I O N S This Presentation has been prepared by Micro-X Limited (Micro-X or the Company) (ASX.MX1). The Presentation is a summary only and does not contain all the information about the Company’s assets and liabilities, financial position and perf
Slide 3: Creating Revolutionary Imaging
C R E AT I N G R E V O L U T I O N A R Y I M A G I N G TO BETTER LIVES Commercialisation I Te c h n o l o g y I People Micro-X HY 24 Results I 3
Slide 4: Overview
OVERVIEW Key commercial and operational milestones delivered in 1H 2024 1 Record product revenues – Improved gross margin 2 Positive operating cash flows achieved 3 Argus completed & available for purchase 4 First images taken with Micro-X mini tube 5 $21m DHS contract extension + first prototype ba
Slide 5: The Future of X-Ray
T H E F U T U R E O F X - R AY Smaller, lighter, reliable – enabled by our proprietary generator Micro-X proprietary CNT technology Lighter - carbon nanotube emitter made of millions of nanotubes emitting Cold cathode digitally controlled electrons - generate high quality x-ray images Fast pulse Nan
Slide 6: Four Innovative Applications
F O U R I N N O VAT I V E A P P L I C AT I O N S Each product drives a different utilisation of Micro-X’s world leading technology Mobile Digital Radiology Argus X-ray Camera Checkpoints & Baggage Scanner Head CT Lightweight and ultra-mobile x-ray World first high-definition bomb imaging Baggage sca
Slide 7: Pillars for Future Success
PILLARS FOR FUTURE SUCCESS World leading CNT x-ray technology Proven development capabilities Internationally recognised x-ray technology World leading engineering, design and software platform is next generation and market leading team – track record of product innovation and – strong product advan
Slide 8: Our Strategy
O U R S T R AT E G Y Creating a profitable business with our world class technology 01 02 03 Commercial skills Sweat the asset Target larger and - Commercially driven - Leverage our technology less competitive markets Building commercial skills - prioritising commercial Created significant value in
Slide 9: Results & Highlights
RESULTS & HIGHLIGHTS 1 H F Y 2 4 – H a l f Ye a r t o 3 1 D e c e m b e r 2 0 2 3
Slide 10: Operational Highlights
O P E R AT I O N A L H I G H L I G H T S New leadership delivering on strategic objectives Major Aus Govt orders Argus product now for sale $21m DHS contract ext. $1.5m for Ukraine military assistance package Production ready Argus unit passed internal tests US Dept of Homeland Security for Airport
Slide 11: Financial Highlights
FINANCIAL HIGHLIGHTS Growing commercial momentum driving tangible results Total Product Product Operational Market Cap 1 Revenue2 Revenue2 Gross Margin Cashflow2 $59.7m Inventory 2 $5.4m Cash 2 $5.3m $8.2m $4.4m 32% $0.7m Debt 2.1% 177.8% from 19% $6.2m vs 1H FY23 vs 1H FY23 vs 1H FY23 vs 1H FY23 Ni
Slide 12: Revenue Growth
REVENUE GROWTH Improved product sales and growing engineering services to fund development work $8.20m TOTAL Revenue - $m Product Revenue - $m Total revenue for Half Year FY24 → Delivered $1.3m Micro-X Rover rugged 15.0 4.4 units to SAAB for Australian defence Forces → Delivered $1.5m Micro-X Rover
Slide 13: Profit & Loss
PROFIT & LOSS Enhanced product margins and overhead savings Consolidated Drivers of EBITDA 31-Dec-23 #039;000 31-Dec-22 #039;000 Change #039;000 Change % Revenues Product Revenue 4,431 1,595 2,836 178% → Project revenue reduced due to the timing of milestone achievement. Costs of Goods sold (3,356) (1,336) (
Slide 14: Financial Position
FINANCIAL POSITION Robust capital management strengthened by contracted project income Cash of $5.3m – bolstered by ability to utilise $5.4m of current inventory in Rover & Argus sales Order backlog of $1.2m – $0.6m orders at December + $0.6m orders since then Reduced Overheads – $2m costs out of th
Slide 15: Driving Commercial Success
DRIVING COMMERCIAL SUCCESS B u i l d i n g a b u s i n e s s n o t j u s t a t e c h n o l o g y
Slide 16: Key Priorities & Milestones
KEY PRIORITIES & MILESTONES Key near-term operational objectives Commercial products Products In Development Corporate & Financial Argus Checkpoints Corporate > Commercial launch in security & defence > Deliver prototypes to demonstrate capability > Build and manage resources → First sales with key
Slide 17: Revenue Timeline
REVENUE TIMELINE Commercialising four revenue generating product lines by 2026 Revenue Timeline Division Sector Products Commercial Status 2023 2024 2025 2026 Next major milestone $4.4m Revenue – 1H FY24 Mobile DR Healthcare FDA and TGA CE Mark Growing European presence Sales in Europe 350+ units so
Slide 18: Partners for Growth
PA R T N E R S F O R G R O W T H De-risking development and unlocking value from our Technology Development Partner Development Partner Licensing Partner Leading technology Checkpoints - $28m funding Head CT - $8m funding Multibeam Emitters - $15m Transform the passenger security Taking stroke diagn
Slide 19: Experienced Leadership
EXPERIENCED LEADERSHIP Commercially focused to accelerate growth Ilona Meyer, Non Exec General Counsel Nuix, former Boehringer Ingelheim, ResMed, Medtronic Patrick O'Brien , Non Exec Kingsley Hall – Chief Executive David Knox – Non-Exec Chair Former Director Macquarie Group, 25+ years exp in senior
Slide 20: Wrap Up
WRAP UP Five key take aways 1 World class Nano Electronic X-ray technology unlocks new applications - four innovative X-ray based products for health, security and defence 2 Record Product revenues and positive Operating cashflows with stronger margins - Major Rover orders and locked in Project reve
Slide 21: Appendices
ACN 153 273 735 / ASX: MX1 APPENDICES M I C R O - X P R O D U C T S Micro-X HY 24 Results I 21
Slide 22: Argus X-Ray Camera
A R G U S X - R AY C A M E R A Saving lives by redefining bomb detection Unique product advantages and range → Stand-off detection of potential bomb threats or IEDs – removes operator from threat → One sided imaging enables imaging of otherwise inaccessible targets → Only robot deployable system to
Slide 23: Mobile DR
MOBILE DR First product to market validating revolutionary technology Distinct product advantages and range of uses → Smaller, more mobile, full range of imaging applications → Meets hospital mobile imaging requirements and military needs → Applications in elite sports and veterinary clinics Multi-c
Slide 24: Checkpoints
CHECKPOINTS Next generation self-service security screening Significant advantages for travellers + airports → Faster – Passenger screening in 30 seconds, 8 passengers screened simultaneously. → Safer – Passenger, baggage, and Identification combined with AI to increase detection and reduce false al
Slide 25: Head CT
HEAD CT Taking stroke diagnosis from the hospital to the ambulance Saving lives with stroke diagnosis in any ambulance → Mobile – 70kg unit suitable for all road and air ambulances → Accurate – 8 second scan for 3D imaging down to 2ml blood → Enabler – Life saving response time → Economical – improv