Slide 1: Q1 2023 Interim Management Statement
Q1 2023 Interim Management Statement Henrik Brill Jensen, CEO Heine Thorsgaard, CFO May 3, 2023 1 2023-05-03 COPYRIGHT © 2023 NAPATECH A/S
Slide 2: Q&A Session at the end of the presentation
Q&A Session at the end of the presentation DK: +45 8987 5045 NO: +47 8150 3308 US: +1 646 664 1960 UK: +44 20 3936 2999 Participant Access Code: 715772 To ask a question, press ZERO ONE on your telephone keypad. To withdraw your question, press ZERO TWO. Texted question can be submitted using the bu
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation has been prepared by Napatech A/S (the “Company”) solely for information purposes. The presentation does not constitute an invitation or offer to acquire, purchase or subscribe for securities. Certain statements included in this presentation contain various fo
Slide 4: Agenda
Agenda • Progress in Business and Partnerships • Market Outlook • Financial Review and Outlook • Q&A Session 4 2023-05-03 COPYRIGHT © 2023 NAPATECH A/S
Slide 5: Progress in Business and Partnerships
Progress in Business and Partnerships 5 2023-05-03 COPYRIGHT © 2023 NAPATECH A/S
Slide 6: Status on Business and Execution
Status on Business and Execution • In beginning of Q1’23, we still felt the impact of the New Napatech Product release worldwide recession on the tech industry • Napatech NT400D SmartNIC • By beginning Q2’23 we believe that improvements are • Powered by Intel Agilex FPGA starting to emerge which sup
Slide 7: Our Intel Journey
Our Intel Journey • Solution definition and development of first Oak Spring Napatech, Intel Solution Overview Canyon (OSC) production grade HW platform initiated, • FPGA-based SmartNICs expected available by Napatech to the market by Q4’23 • FPGA-based IPUs • Solution definition and development of S
Slide 8: Our F5 Journey
Our F5 Journey • Napatech delivery of first product to F5 during Q2’23, About the solution will enable product integration by F5 • Napatech SmartNIC • Powered by Intel Agilex FPGA • This leading technology from Intel and Napatech is targeted to power F5 Networks next generation • Designed for volume
Slide 9: Our NetScout Journey
Our NetScout Journey • April 2023: disclosure of the Napatech and Netscout Highlights strategic collaboration agreement • Netscout, a global leader in network performance • Along with this agreement Netscout invested $7.5M USD management, cybersecurity, and DDoS protection solutions in Napatech • Lo
Slide 10: General Market Conditions 2023
General Market Conditions 2023 • Component supply expected to improve later in 2023 Napatech may be affected in various ways • Server and switch supply should improve during 2H’23 • Headwind: Component and • End-user IT spending remains guarded server supply hit our customers and delay their • Cyber
Slide 11: Financial Review and Outlook
Financial Review and Outlook 11 2023-05-03 COPYRIGHT © 2023 NAPATECH A/S
Slide 12: Consolidated Income Statement Q1 2023
Consolidated Income Statement Q1 2023 Q1 Q1 Key Points DKK'000 2023 2022 ∆ • Revenue in Q1 down 29% compared to Q1’22 but Revenue 37,096 52,237 -29% 11% up compared to Q4’22 in USD Cost of goods sold (16,566) (25,600) Gross profit 20,530 26,637 -23% • GM in Q1 55% up 4 basis points compared to Q1’22
Slide 13: Consolidated Cash Flow Statement Q1 2023
Consolidated Cash Flow Statement Q1 2023 Q1 DKK'000 2023 2022 Key Points Earnings before tax (EBT) (21,564) (6,589) • Net Cash flow from operating activities in Q1 positive Adjustments to reconcile profit before tax to net cash flows 9,613 5,379 DKK 23.3m Working capital adjustments 35,617 1,005 • N
Slide 14: 2023 Guidance unchanged
2023 Guidance unchanged Summary Guidance • 2023 is a year focused on the development activities in key Revenue DKK 180-200m partnership project • With performance in the middle of the Gross margin 68-71% guided ranges: • Revenue in 2023 is expected to grow Staff expenses & Other external costs DKK 1
Slide 15: Q&A Session
Q&A Session DK: +45 8987 5045 NO: +47 8150 3308 US: +1 646 664 1960 UK: +44 20 3936 2999 Participant Access Code: 715772 To ask a question, press ZERO ONE on your telephone keypad. To withdraw your question, press ZERO TWO. Texted question can be submitted using the button on the website. 15 2023-05