Slide 1: Benchmarking
Benchmarking InspireMD Biosensor* Xtent Conor 2011 2012 2013 2003** 2009 2010 2008E 2009E 2010E 2005E 2006E 2007E 2008E REVENUES 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% GROSS PROFIT 38% 55% 74% 37% 75% 73% 16% 41% 63% 40% 65% 73% 78% EXPENSES R&D 52% 42% 30% 13% 18% 11% 268%
Slide 2: Cash Flow
(US$ 000's) Cash Flow 2011 2012 2013 2014 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Net Income (1,095) (1,965) (1,805) (1,395) (6,260) (1,430) (1,305) (1,205) (780) (4,720) (1,920) (590) 1,360 3,820 2,670 (1,235) 490 5,305 10,675 15,235 Adjustments required to reconcile
Slide 3: P&L
(US$ 000's) P&L 2011 2012 2013 2014 Total Total Total Total REVENUES 7,000 13,000 22,000 60,000 GROSS PROFIT 2,660 7,110 16,360 48,000 % of SALES 38% 55% 74% 80% TOTAL EXPENSES 9,005 11,870 13,695 32,620 EBIT (6,345) (4,760) 2,665 15,380 INTEREST INCOME/(EXPENSE) 85 40 5 (145) NET INCOME before Tax
Slide 4: P&L 2011 quarterly
P&L 2011 2011 2012 2013 2014 Q1 Q2 Q3 Q4 $000 $000 $000 $000 REVENUES TOTAL REVENUES 1,500 1,000 1,950 2,550 7,000 13,000 22,000 60,000 COST of GOODS SOLD 965 645 1,185 1,545 4,340 5,890 5,640 12,000 GROSS PROFIT 535 355 765 1,005 2,660 7,110 16,360 48,000 % of SALES 36% 36% 39% 39% 38% 55% 74% 80%
Slide 5: Total G&A, Total Expenses, EBIT
Total G&A 655 735 995 770 3,155 3,405 3,780 5,725 TOTAL EXPENSES 1,645 2,350 2,590 2,420 9,005 11,870 13,695 32,620 EBIT (1,110) (1,995) (1,825) (1,415) (6,345) (4,760) 2,665 15,380 INTEREST INCOME/(EXPENSE) 15 30 20 20 85 40 5 (145) NET INCOME before Tax (1,095) (1,965) (1,805) (1,395) (6,260) (4,7
Slide 6: P&L 2011 quarterly (alternate)
P&L 2011 2011 2012 2013 2014 Q1 Q2 Q3 Q4 $000 $000 $000 $000 REVENUES TOTAL REVENUES 1,485 1,018 1,925 2,574 7,002 13,000 22,000 60,005 COST of GOODS SOLD 965 646 1,184 1,544 4,340 5,889 5,638 12,001 GROSS PROFIT 520 371 741 1,030 2,662 7,112 16,363 48,004 % of SALES 35% 37% 39% 40% 38% 55% 74% 80%
Slide 7: Headcount Projection
Exchange Rate = NIS:USD 3.6 HEADCOUNT PROJECTION Vehicles Current Current Soc. Ben. Soc. Ben. Annual Monthly Monthly Seniors Juniors $ -$ - 2010 2011 2012 2013 2014 2010 2011 2012 2013 Sub Department Title title Gross $ Gross $ Gross NIS 30.0% 22.5% Car Cell Total Production 26 32 33 34 91 1 1 2 3 T
Slide 8: Coronary Stents sales and geographic region
2011 2011 2012 2012 2013 2013 2014 2014 Q1 000 Q2 000 Q3 000 Q4 000 000's Q1 000 Q2 000 Q3 000 Q4 000 000's Q1 000 Q2 000 Q3 000 Q4 000 000's Q1 000 Q2 000 Q3 000 Q4 000 000's Price $ 550.00 Coronary Stents 2,700 1,850 3,500 4,680 12,730 2,413 5,308 7,184 8,732 23,637 6,000 8,000 11,000 15,000 40,00
Slide 9: Trade Shows and Marketing Expenses
TRADE SHOWS International Conferences 2011 2012 2013 Big 2 3 3 Medium 1 2 2 Small 1 1 1 Cost Big Medium Small 2011 2012 2013 $000 $000 $000 Big 300 450 450 Medium 80 160 160 Small 40 40 40 Local Sponsorship in contries 80 90 100 Total Trade Shows 500 740 750 OTHER MARKETING EXP. Subcontractors 40 80
Slide 10: IP
IP Patent Application 4 4 4 PCT - 3 2 IP National Phase - - 1 Cost $000 Patent Application 10 PCT 20 IP National Phase 30 2009 2010 2011 $000 $000 $000 Patent Application 40 40 40 PCT - 60 40 IP National Phase - - 30 Miscellaneous 20 20 20 60 120 130
Slide 11: orcrary au
orcrary au Cercary MGuerS Poise Task Description aca | ‘Bode: [KS] through : a | 2 T ‘at | a2 | a3 [oa [ot ar] as | os | on lites ria wT F = I he $00. }__3,000 3 Teo Teo. 4 cae kare ae ‘SF tewonslease €310 04 1530
Slide 12: ESOP
ESOP 2011 2011 2012 2012 2013 2013 Q1 $000 Q2 $000Q3 $000Q4 $000 $000 Q1 $000Q2 $000Q3 $000Q4 $000 $000 Q1 $000Q2 $000Q3 $000Q4 $000 $000 G&A Allotments as of 31/12/2010 92,194 68,324 45,580 26,928 233,026 26,928 28,717 25,771 25,771 107,187 25,771 29,049 25,000 25,000 104,820 Allotments in 2011/201
Slide 13: Equipment Capex
Amount in US$ 2011 2012 2013 2014 Description Total Unit Cost Deep Coating System 0 1 0 3 250000 250,000 Crimper 1 1 0 3 270000 135,000 Self expanding crimper 1 0 0 3 120000 120,000 Inspection Microscop 2 2 2 50 50000 8,333 Clean room #1 1 0 0 1 100000 100,000 Clean room #2 1 0 0 1 100000 100,000 Cl
Slide 14: Gross Profit, Working Capital and Total Outlay
2011 2012 2013 Total Gross Profit 2,660 7,110 16,360 26,130 Working Capital 565 2,460 3,615 6,640 R&D 3,500 5,240 6,305 15,045 Marketing and Sales 2,155 2,940 3,270 8,365 G&A 2,745 2,770 2,970 8,485 Total outlay 8,965 13,410 16,160 38,535 Net Cash (6,305) (6,300) 200 (12,405)
Slide 15: InspireMD Key Financial Data
InspireMD Key Financial Data 2011 2012 2013 # of Stents (000) 12.7 23.6 40.0 Sales ($000) 7,000 13,000 22,000 Gross Margin (average for the year) 38% 55% 74% NET INCOME -6,260 -4,720 2,670 Sales By Geographic Region Europe 48% 48% 42% North America 0% 0% 0% Latin American 9% 12% 15% Asia 38% 37% 40%