Slide 1: Financial Results Material for Q3 of Fiscal Year Ending March 2024
Financial Results Material for Q3 of Fiscal Year Ending March 2024 ispace, inc. (Securities Code：9348) February 13, 2024 Expand our planet. Expand our future. copyright©ispace,inc. 2024 1
Slide 2: Table of Contents
Table of Contents 1 | About ispace 2 | Business Highlights for Q3 of Fiscal Year Ending March 2024 3 | Financial Results/KPI for Q3 of Fiscal Year Ending March 2024 Expand our planet. Expand our future. copyright©ispace,inc. 2024 2
Slide 3: Disclaimer
Disclaimer • This presentation was prepared by ispace, inc. (referred to as the “Company”, “ispace”, or “we” herein) solely for informational purposes. • This document contains forward-looking statements, which reflect the Company's assumptions and outlook for the future and estimates based on infor
Slide 4: About ispace
About ispace Expand our planet. Expand our future. copyright©ispace,inc. 2024 4
Slide 5: Our Vision: Expand Our Planet. Expand Our Future.
OUR VISION EXPAND OUR PLANET. EXPAND OUR FUTURE. Creation of a world where the Earth and the Moon are one ecosystem, establishing a new economy on the Moon ⚫ “Moon Valley 2040” is an outlook on the world representing ispace’s vision EXPAND OUR PLANET. EXPAND OUR FUTURE ⚫ We envision 1,000 people liv
Slide 6: Why the Moon?
Why the Moon? The potential of the Moon as a “fuel supply base” utilizing H2O that may exist on the Moon ENVISIONED ECOSYSTEM(1) BRINGS THE EARTH & MOON TOGETHER H 2 O (2) 1 / 6 G (3) Decreasing costs to access areas of deep space • Costs of Mars missions • Costs of resource explorations etc. The ma
Slide 7: Business area
Business area The lander developed by ispace is launched into outer space on an external vendor’s rocket. After the lander navigates on its own to the lunar surface, the plan is for the lander and rover to explore and acquire data from lunar surface Launch using an external The lander navigates and
Slide 8: Core service
Core service Payload service and Partnership service are the current business pillars of ispace. We plan to establish Data service in the future Payload service Data service Partnership service Customers are expected to acquire significant data from payloads developed by ispace. Access to the Suppor
Slide 9: Achievements and Mission Schedule
Achievements In 2022, successfully launched lunar lander as a commercial company for the first time Our Mission Schedule(1) December 11, 2022 @ Cape Canaveral on SpaceX Falcon 9 2022 M1 2023 2024 M2 2025 2026 M3 2027 M6 (1)(1) AsAs of of February February 13,13, 2024 2024 Expand our planet. Expand o
Slide 10: Mission 1 KPI success milestones
Mission KPI 1 success milestones Achieved 8 out of 10 Success Milestones, despite not being able to achieve lunar landing. M1はミッション期間のsuccess5まで達成 Acquired valuable data until the end of landing sequence Success 4 ✓ Success 3 ✓ Completion of first orbital Establishment of a control maneuver Steady O
Slide 11: Mission achievements
Mission 1 achievements Became the first private company to reach the final lunar landing phase. Gained valuable data that can be used in future missions, and established the policy for Mission 2 and beyond, considering the results of Mission 1 ⚫ Improve the reliability during Mission 2 and future mi
Slide 12: Business Highlights for FY2023 Q3
Business Highlights for FY2023 Q3 Expand our planet. copyright©ispace,inc. 2024 12
Slide 13: Business highlights for FY2023 Q3
Business highlights for FY2023 Q3 Increasing attention towards the lunar industry. JAXA’s SLIM successfully demonstrated the Business world’s first “pinpoint landing” on the moon surface in Jan 2024, and two U.S. private Environment companies carried / will be carried out a series of lunar landing m
Slide 14: Business environment
Business environment JAXA's SLIM successfully demonstrated the world's first "pinpoint landing” on the moon surface. Two U.S. private companies attempted / will attempt lunar landing missions JAXA SLIM’s successful landing on the moon surface Astrobotic’s Launch Astrobotic (U.S.) successfully launch
Slide 15: Our future mission plan
Our future mission plan In addition to Mission 2 and Mission 3, which are currently under development, Mission 6 is scheduled for its launch in 2027, utilizing the SBIR program. Commercial lander development will be carried out in parallel in both Japan and the U.S. 1 RESILIENCE Lander 3 [Series 3 L
Slide 16: M2 progress: Mission 2 overview
M2 progress Mission 2 launch timing revealed as no earlier than winter 2024 (announced in Nov 2023). Assembly, Integration & Testing (AIT) of RESILIENCE Lander in Japan entity and development of Mission2 our micro rover in EU entity are progressing smoothly Winter 2024 Overview of Mission 2 ⚫ Schedu
Slide 17: M2 progress: RESILIENCE lander and new partners
M2 progress The former Series 1 Lander was renamed RESILIENCE Lander. New companies joined HAKUTO-R program and aim together to launch in no earlier than winter 2024 and carry out the mission Mission2 Winter 2024 Our motto for the lander name "RESILIENCE” New HAKUTO-R supporting company Corporate pa
Slide 18: M2 progress: Micro rover and regolith shovel
M2 progress Micro rover developed by our EU entity with a shovel developed by Epiroc AB to collect lunar regolith and conduct a lunar regolith transfer program with NASA Mission2 Winter 2024 Micro rover developed by ispace Europe (design image) With a shovel developed by Epiroc AB, lunar regolith wi
Slide 19: M2 progress: Lander assembly
M2 progress Lander assembly in preparation of final testing is well underway at a JAXA facility in Tsukuba, Japan Mission2 Winter 2024 ⚫ Using the same flight model as M1: RESILIENCE Lander ⚫ Aiming to further improve mission accuracy by leveraging the experience and knowledge gained through M1 ⚫ Ex
Slide 20: M3 progress: APEX 1.0 Lander IDR
M3 progress Interim Design Review (IDR) for APEX 1.0 Lander completed (December 2023). On track for upcoming Critical Design Review (CDR), our key development milestone, and scheduled launch in 2026 Mission3 2026 ⚫ ispace technologies U.S., our US entity, completed an IDR for the APEX 1.0 Lander, wh
Slide 21: M6 progress: SBIR grant
M6 progress Received notification of 12 billion yen grant decision by SBIR in Dec 2023. Following APEX 1.0 Lander, starting development Series 3 Lander(1) in Japan entity aiming for launch in 2027(3) Mission6 2027 ⚫ October 2023: Selected as a project eligible for a grant of up to 12 billion yen und
Slide 22: Sales progress: new MoUs
Sales progress Signed new MoUs with private companies in the U.S. and Thailand to accelerate the establishment of the cislunar economy(1) and the expansion of global customers MoU with Orbit Fab (U.S.) for in-space refueling Two MoUs with mu Space (Thailand) for future missions Orbit Fab mu Space ×
Slide 23: Sustainable business model: new fundraising
Sustainable business model A solid financial foundation is necessary to develop multiple missions in parallel. Raised a total of 2.5 billion yen from SMTB and Asahi Shinkin Bank in Q3, bringing the total amount in the current fiscal year to approx. 14 billion yen including the IPO Business Model of
Slide 24: Financial Results/KPI for FY2023 Q3
Financial Results/KPI for FY2023 Q3 Expand our planet. copyright©ispace,inc. 2024 24
Slide 25: Analysis of factors contributing to decline in net sales forecast
Analysis of factors contributing to decline in net sales forecast The full-year net sales forecast for FY2023 has been revised due to an estimated decrease in net sales in this Q4. Approx. 680 million yen of decrease in total net sales in FY2023 is expected to be carried over to the next fiscal year
Slide 26: Quarterly sales
Quarterly sales The revised full-year net sales forecast for FY2023 is expected to contain a reasonably certain degree of accuracy as approx. 70% of Q4 net sales will include the Oct-Dec results of our US & EU entities and incorporated into our consolidated accounts point (Millions of yen) Results O
Slide 27: Accounting standards: cost recovery method
Accounting standards Due to the application of the cost recovery method, net sales and costs are recorded in equal amounts until mission completion. Changes in net sales from one financial year to the next does not necessarily reflect the progress of the business Cost recovery method Example of sale
Slide 28: Revision of full-year forecasts for FY2023
Revision of full-year forecasts for FY2023 Due to the delay in delivery of some M3 lander components, the cost incurred and the associated net sales recognition are also expected to be carried over to the next fiscal year and beyond. However, the impact on M3 development schedule is expected to be m
Slide 29: Profit and loss statement
Profit and loss statement Despite fluctuations in comparison to the forecasts, sales growth remained strong YoY, driven by the recording of M3 sales FY2023 Q3 FY2023 Q3 point (cumulative) (non-cumulative) ⚫ Q2-Q3 progressed steadily with the inclusion of M3 sales (temporary increase (Millions of yen
Slide 30: Balance sheet
Balance sheet Maintained liquidity and financial stability with additional borrowings, while advance payment and receipt increased due to steady business progress point Assets: FY2023 Q3 FY2022 (March 2023) ⚫ Cash and deposits increased approx. 6,294 million yen* from (Millions of yen) Result Result
Slide 31: Our KPI
Our KPI CDR for M3 Lander development is expected to be completed by the end of next fiscal year. From the sales aspect after M3, continue to finalize the interim PSA(1) into final agreements and obtaining new PSA with both government and private companies CY2020 CY2021 CY2022 CY2023 CY2024 CY2025 C
Slide 32: Illustrative business model of payload service
Illustrative business model Illustrative Business Model of Payload Service For illustrative purposes only; all values are rounded off to integral values and subject to change present Planned Total Mission revenue recognized(2) over… Internal use Customer Total mission sellable payload contract paylo
Slide 33: Never Quit the Lunar Quest
Expand our planet. Expand our future. Never Quit the Lunar Quest 私たちは歩み続けます。 copyright©ispace,inc. 2024 33