Slide 1: 1Q 15 Financial Results Conference Call
1Q 15 Financial Results Conference Call
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. These forward-looking statements include, but are not limited to those statements regarding our futur
Slide 3: Presenters
Presenters Tali Dinar - Chief Financial Officer David Lucatz - Chairman of the Board and CEO Shai Lustgarten - CEO of Micronet Ltd.
Slide 4: First Quarter Overview
First Quarter Overview ■ Began roll out of new “All-In-One” product line ■ Significant initial traction: ■ First telecom certification (Verizon) ■ $4+ million local fleet order ■ Initiation of the certification process with additional carriers ■ Consolidated quarterly revenue reflects transition to
Slide 5: 1Q vs 1Q Revenues Sales Breakdown
1Q 14 vs 1Q 15 Revenues Sales Breakdown Consolidated revenue for the quarter MRM
Slide 6: Next Generation A-317 Tablet First Totally Connected Product
Next Generation A-317 Tablet First Totally “Connected Product”; Transforms Product Offering ■ A-317 “All-In-One” tablet is significant technology advancement ■ Rugged integrated tablet solution ■ Offers 3.5G/4G LTE, Bluetooth and Wi-Fi applications
Slide 7: A-317 Tablet Roll Out
A-317 Tablet Roll Out Product R&D Carrier Certification; Testing & Approval Adaptation & Orders ● Completed ● Ongoing refinement with customers Carrier Certification ● Verizon complete ● AT&T in progress ● In discussions with additional carriers Customer Testing/Approval ● Multiple customers current
Slide 8: Income Statement Highlights
Income Statement Highlights (in 000’s) Three Months Ended March 31, 2015 2014 Revenues $ 5,679 $ 5,567 Cost of revenues 3,928 3,515 Gross profit 1,751 2,052 Gross profit margin 31% 37% Operating expenses: Research and development 743 744 % of sales 13% 13% Selling and marketing 469 391 % of sales 8%
Slide 9: Non-GAAP Reconciliation
Non-GAAP 9 Three Months Ended March 31, 2015 2014 GAAP net loss attributed to MICT (705) (332) Total amortization of acquired intangible assets 189 49 Change in fair value of call options and warrants 0 (73) Amortization of UTA's note discount and related expenses 0 50 Stock-based compensation 69 6
Slide 10: Strong Balance Sheet
Strong Balance Sheet Paid down last portion of UTA debt during 1Q15
Slide 11: ELD Mandate Opportunity
ELD Mandate Opportunity Background Timeline* Market Opportunity* § Drivers are required to keep records of hours of service (HOS) § Cannot drive over 11 hours per day § Required rest periods § Electronic Logging Devices (ELDs) connect to engine and replace paper logbooks § Law being put in place req
Slide 12: Looking Forward Macro Trends Medium to Long Term
Looking Forward Macro Trends Medium to Long Term MRM § Local fleet market expected to grow 37% between 2014 and 2016 1 Aerospace/Defense • Continuing trend to rely on missile defense systems support a potential demand for our missile defense offerings § Continuing strong potential for our systems an
Slide 13: Thank You
Thank You Q & A
Slide 14: Micronet Enertec Technologies, Inc
MICRONET ENERTEC TECHNOLOGIES, INC