Slide 1: Financial Results & Operational Update
ACN 153 273 735 / ASX: MX1 F I NA NC I A L R E S UL T S & O P E R A T I O NA L UP DA T E F i n a n c i a l Ye a r e n d e d 3 0 J u n e 2 0 24 Kingsley Hall Chief Executive Officer 29 August 2024 Micro-X FY24 Results I 1
Slide 2: Important Notice
I MP O R T A N T NO T 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 X-Ray Imaging To Better Lives
C R E A T I NG R E V O L UT I O NA R Y X - R A Y I MA G I NG T O BE T T E R L I V E S Micro-X FY24 Micro-X ResultsI | 3 3 Results FY24
Slide 4: Overview
OVERV I EW Growing commercial momentum from record product sales in FY2024 and Argus launched 1 Record product revenues – reduced inventory & improved gross margin 2 Argus first sale – demonstration units in field to build sales funnel 3 Airports –contract extension up to �21M funds through to live
Slide 5: The Future Of X-Ray
T HE F UT UR E O F X - RAY Micro-X has created a world first technology platform that delivers Micro-X proprietary CNT Lighter transformative imaging solutions technology - Cold cathode emitter made of millions of nanotubes emits digitally controlled electrons Cold cathode - generates high quality x
Slide 6: Four Innovative Applications
F O UR I NNO VAT I V E A P P L I CAT I O NS 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 Baggage scanner for secu
Slide 7: Results & Highlights
RESULT S & HI GHLI GHT S Financial year ended 30 June 2024 Micro-X FY24 Results | 7
Slide 8: Key Financials - FY24
K E Y F I NA NC I A LS - F Y 2 4 Growing commercial momentum driving tangible financial results Total Revenue1 Net Operating Cashflows1 �15.2M Revenue growth driven by record Mobile DR sales �4.6m ↑ 42% Increased customer receipts and reduced payments supported by increased R&D receipt. Product Reve
Slide 9: Operational Achievements
O P E RAT I O NA L AC HI E V E ME N T S New commercialisation strategies delivering milestones Defence & Govt Orders First Argus Sale �21m DHS Contract Ext. Ukraine military assistance package First Argus sale – unit delivered to the UAE US Dept of Homeland Security for Airport Units for Aust Defenc
Slide 10: Revenue Highlights - FY24
R E V E NUE HI G HL I G H T S – F Y 2 0 2 4 Revenue growth by strong product sales – offsetting lumpy project income $15.2m Total revenue Product Revenues - $m Total Revenue - $m $6.4m Product Revenue 7.0 → Australian Defence Forces 6.0 70% 6.4 → Aust. Govt. for Ukraine Aid 5.0 → First EU sale of Mi
Slide 11: Reduced Cost Base
R E DUC E D C O S T BAS E Refining a more commercial cost base 13% �2.1m �2.5m Expenditure Unfunded Mobile DR Reduced1 Development Costs1,3 Inventory Reduction1 Cash operating expenses �23.1m2 [FY23 �26.6m] ↓ 43% with completion of Excess inventory converted to by effectively deploying capital Argus
Slide 12: Balance Sheet
BA L A NC E S HE E T >12 months funding runway following �5.9m capital raising Balance Sheet $000 �12.7m Cash & Cash Equivalents 1 3,228 Trade and Other Receivables2 7,212 FY2025 Development contracted payments (FY24 $8.5m)1 Inventories 5,379 Right of Use asset & Property, Plant & Equipment 6,877 →
Slide 13: Driving Commercial Success
DRI VI NG COMMERCI AL SUCCESS Building a business not just a technology Micro-X FY24 Results | 13
Slide 14: Our Strategy
O UR S T RAT 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 Created significant value in our current u
Slide 15: Partnering Strategy
PA R T NE R I NG S T RAT E G Y De-risking market entry – focusing on Micro-X core skills as a tech innovator Our Current Partners New Partners being Sought Development Partner Development Partner Licensing Partner Checkpoints > Implementation / Market access → Existing airport or security integrator
Slide 16: Near Term Priorities
NE A R T E R M P R I O R I T I E S Executing on tangible operational achievements to drive commercialisation 1 Driving the Argus commercial launch in global defence and security markets - Customer demonstrations to build on first sale - grow a large and repeat customer base in 12 months 2 Executing
Slide 17: Revenue Timeline
R E V E NUE T I ME L I NE Commercialising four revenue generating product lines by 2026 Revenue Timeline Division Sector Products Commercial Status 2023 2024 2025 2026 Next major milestone $6.4m Revenue – FY24 Mobile DR Healthcare FDA and TGA First Sales in Europe Growing European presence 350+ unit
Slide 18: Outlook For FY25
O UT LO O K F O R F Y 2 5 Key near-term operational objectives Commercial products Products In Development Corporate & Financial Argus Checkpoints Corporate > Commercial sales in security & defence > Deliver prototypes to demonstrate capability > Build and manage resources → Increase customer demons
Slide 19: Corporate & Financials
C O R P O RAT E & F I NA NC I A LS FINANCIALS & SHAREHOLDERS SHARE CAPITAL (27 August 2024) Cash ~A$3.2m (30 June 2024) Share price $0.061 per share �15.2m FY24 Revenue Revenue A$15.2m (FY2024) Total shares on issue 581.6 million Institutions + Perennial (12.2%), Varex Options (ex. 13.5c) 31.1 milli
Slide 20: Experienced Leadership
E X P E R I E NC E D L E A DE R S HI P 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 Senior Exec. Macquarie 25+ years e
Slide 21: Wrap Up
WRA P UP Five key take aways 1 World-class Nano Electronic X-ray technology platform unlocks innovative X-ray applications for health, security and defence 2 Record FY24 Product revenues with stronger margins – ongoing development work also funded from strong Contracted Payments for FY25 3 Building
Slide 22: Appendices
APPENDI CES Financial Statements Micro-X FY24 Results I| 22 23
Slide 23: Profit & Loss - FY24
P RO F I T & LO S S – F Y 2 0 2 4 Key points → Record Product Revenue achieved at a higher gross margin than FY23 → Product Gross Margin increased with higher value Govt. orders → Project Revenue reduced due to the timing of milestone payments – significant project payments set to be received in Q1
Slide 24: Balance Sheet - FY24
BA L A NC E S HE E T – F Y 2 0 2 4 Key points → Cash & cash equivalents affected by timing of project payments – additional $2.7m received or expected in Q1 FY2025 (shown in contract assets) → Trade and Other Receivables includes an estimated $6.4M R&D receivable relating to the FY24 year and an ame