Slide 1: Transforming Detection at The Point of Need
Transforming Detection at The Point of Need September 2018 CEO: Glenn Tracey FD: Bevan Metcalf Confidential. ©Microsaic Systems 2018
Slide 2: Forward looking statements
Forward looking statements This presentation contains forward-looking statements regarding the Company's plans, expectations, estimates and beliefs. Forward-looking statements are typically identified by words such as "believes," "anticipates," "intends," "will," "may" and other similar expressions.
Slide 3: Introductions
Introductions Glenn Tracey – Chief Executive Officer 20+ years’ experience in scientific instruments, including human and environmental health. Previously at global life sciences company PerkinElmer. Joined in March 2015, appointed to the Board in December 2015 Bevan Metcalf – Finance Director 35+ y
Slide 4: Highlights
Highlights > H1 2018 total revenues 96% higher vs H1 2017 > Unit orders in H1 2018 equal to the total number FY 2017 > Gross Margin expansion 43%, up from 35% FY 2017 > Good order traction with new 4500 MiD® > Six new partner signings in H1, with momentum expected to continue during H2. Excellent ge
Slide 5: About Microsaic Systems
About Microsaic Systems > Spin-out from Imperial College, 2001 > Compact, “Point of Need” Mass Spectrometry (MS), based on patented chip technology (>60 patents) > Launched 2013, >130 instruments sold to date > Key opportunity in high-value biologic drug manufacture (bioprocessing), plus acceleratin
Slide 6: Progress in bioprocessing
Progress in bioprocessing > Progress on-track with leading global partner in bioprocessing technology > Feasibility phase, completed H2 17 > Currently in integration phase, target completion H2 18 > Final (commercialisation) phase is estimated to take approx. 18 months > In collaboration with leadin
Slide 7: Progress in Near-Term Traditional Markets
Progress in Near-Term Traditional Markets > Existing agreement with Gilson Agreement signing with Knauer at Analytica Show, Germany, April 18 > New agreements signed in H1 18 with two OEMs > Knauer – Based in Germany, integration agreement for global distribution (planned launch Q4 2018) > Unimicro
Slide 8: Financials – Comprehensive Income
Financials – £000s H1 18 H1 17 Comprehensive Income Revenue Cost of sales 253 (144) 129 (79) Gross profit 109 50 > Revenue increased by 96% Gross margin % 43.3% 38.8% > Gross margin of 43% up from 39% in H1 17 Other operating income 37 51 > Other operating income of £37k from joint R&D with a third
Slide 9: Financials – Financial Position
Financials – Financial Position £000s H1 18 FY 17 Non-current assets 192 227 > Cash of £7M following £5M cash injection from fundraising Cash 6,957 3,182 > Other current assets reduced as R&D tax credits received Inventories 490 484 in H1 18 Other current assets 261 480 > Total equity increases foll
Slide 10: Financials – Cash Flows
Financials – £000s H1 18 H1 17 Cash Flows Net cash used in (1,233) (1,623) operating activities Net cash used in (43) (27) > Net cash used in operating activities down £390k due to investing activities tax credit and a smaller decrease in trade and other payables Net cash from financing 5,051 - > Fu
Slide 11: Appendix
Appendix Confidential. ©Microsaic Systems 2018
Slide 12: Corporate
Corporate Share Information Share price (17/5/18) 1.4p Market cap 6.4M Executive Directors Shares in circulation (29/8/18) 456.4M Glenn Tracey (CEO) Debt Nil PerkinElmer* Bevan Metcalf (FD) ICI*, GSK*, Orion* Significant Shareholders > 3% (29/8/18) Non-Executive Directors Parkwalk Advisors Funds 27.
Slide 13: Other board members’ bios
Other board members’ bios Peter Grant – Non Executive Chairman 40 years experience, half at listed company board level, covering both London main market (up to FTSE 250) and AIM, including Skyepharma PLC, WorldPay Group plc, Molins PLC and various senior positions at The General Electric Co. PLC Gro
Slide 14: 5 Year Application Roadmap
5 Year Application Roadmap Confidential. ©Microsaic Systems 2018 14