Slide 1: Micro-X Strategy Refresh
Micro-X Limited, ABN 21 153 273 735 MICRO-X STRATEGY REFRESH Adelaide, Australia, 7 August 2023: Micro-X Ltd (ASX:MX1) (Micro-X or the Company), a leader in cold cathode x-ray technology for health and security markets globally, is pleased to provide the Company’s Strategy Refresh presentation. This
Slide 2: Strategy Refresh
STRATEGY REFRESH Relentless pursuit of commercial outcomes 7 August 2023
Slide 3: Important Notice
IMPORTANT NOTICE 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 performance, pr
Slide 4: Creating revolutionary x-ray imaging to better lives
Creating revolutionary x-ray imaging to better lives PEOPLE I TECHNOLOGY I COMMERCIALISATION Micro-X Strategy Refresh I 3
Slide 5: CNT Technology
CNT TECHNOLOGY Smaller, lighter, reliable Micro-X proprietary CNT technology uses a carbon nanotube emitter made of millions of nanotubes emitting digitally controlled electrons to generate high quality x-ray images 25 KG 2.35 KG 1.13 KG 0.5 KG Micro-X Strategy Refresh I 4
Slide 6: Strategic Review
STRATEGIC REVIEW R e l e n t l e s s p u r s u i t o f c o m m e r c i a l o u t c o m e s
Slide 7: Key Activities – Short Term
KEY ACTIVITIES – SHORT TERM Pivoting to a commercial focus Understanding our Customer, distributor Identifying Streamlining Reduced our opportunities & partners meetings roadblocks to sales Operations Cost base Gaining a better Face to face meetings with Examining why our sales Review of operations
Slide 8: Findings of Operational Review
FINDINGS OF OPERATIONAL REVIEW World-class imaging technology Commercial leadership & culture Overheads & cost control Unique capabilities in carbon nano tube Require additional commercial leadership capabilities – Overheads have grown too far ahead of revenue – cost x-ray technology - validated by
Slide 9: Pillars for Future Success
PILLARS FOR FUTURE SUCCESS World’s first CNT Quality manufacturing x-ray technology and delivery Internationally recognised x-ray technology Vertically integrated design and production platform is next generation and market facility in Adelaide with capacity for a range of leading – offers strong pr
Slide 10: Growth Strategy
GROWTH STRATEGY D e l i v e r i n g v a l u e w i t h u n i q u e t e c h n o l o g y
Slide 11: Our Strategy
OUR STRATEGY 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 Greater commercial skills - prioritising commercial Created significant value in our curre
Slide 12: Products
PRODUCTS Launching Argus - Mobile DR self sustaining Argus commercial product – Go to Market planning → Go to Market plan - engage customers and channel partners → Customer trials - customer feedback - market awareness → Commercial launch version to be refined → Target early marquee sales Mobile DR
Slide 13: Development Priorities
DEVELOPMENT PRIORITIES Focusing on larger markets where Micro-X offers a unique product solution $24bn $5bn Checkpoints $1.8bn Brain CT $500m Argus Mobile DR Radiology is our entry market Argus camera is highly Brain CT - quantum leap Checkpoint screening & Self-service station - proven technology d
Slide 14: Product Development
PRODUCT DEVELOPMENT Maturing core technology for new applications Checkpoints Stroke CT Argus Rover & Rover Plus & Baggage CT Technology Preliminary Product & Verification & Research & Technology Transfer to Revenue Design Feasibility Development Manufacturing Micro-X Strategy Refresh I 13
Slide 15: Sweating the Assets
SWEATING THE ASSETS Unlocking more value from our breakthrough CNT Technology Leading technology Multiple applications Validated Created proprietary NEX Technology, Enables a range x-ray tubes, power Third parties - Varex Imaging, US manufacturing & capabilities generators and software Homeland, Aus
Slide 16: People
PEOPLE A more commercially driven organisation Kingsley Hall Anthony Skeats Brian Gonzales Chief Executive Officer Chief Operating Officer CEO Americas & Chief Scientific Officer Commercial skills New leadership with proven commercial expertise → New Chief Revenue Officer and Business Development ma
Slide 17: Reduced & Aligned Cost Base
REDUCED & ALIGNED COST BASE Reduction in unfunded activities and building new commercial partnerships Total Cost Base Improving the mix of Funded development * Unfunded Cost Base Reducing the unfunded cost base* 4.3m $20m $18.7m $17.9m 9.6m $5.4m FY22: FY23: FY24: Reduced $15m $5.9m $12.1m 12.1m $23
Slide 18: A New Chapter
A NEW CHAPTER 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 19: Short Term Score Card
SHORT TERM SCORE CARD In the next 12 months Micro-X will ❑ Recruit Chief Revenue Officer & Business Development capability Commercial ❑ Revised Go to Market strategy for Argus and Mobile DR ❑ Identify partnerships to assist commercialisation of Checkpoints and Brain CT ❑ Argus commercial product com
Slide 20: Wrap Up
WRAP UP Five key take aways 1 Pillars for success – world class Nano Electronic X-ray Technology and proven development capabilities underpin enormous future value 2 New commercial leadership and commercial focus - high performance culture with increased accountability 3 Reduced our cost base and si
Slide 21: Thank You
ACN 153 273 735 / ASX: MX1 THANK YOU