Plover Bay Technologies Ltd. · HKEX:1523
Plover Bay Technologies — H1 2026 Earnings Presentation
20 slides from Plover Bay Technologies's earnings presentation, Jul 30, 2026
Slide 1: Supercharged Connectivity Interim Results 2026
Supercharged Connectivity Interim Results 2026 30 July 2026
Slide 2: Our Vision, Who Are We, Key Facts
Our Vision We make connectivity reliable, anytime, anywhere Who Are We? Plover Bay Technologies Limited (stock code: 1523.HK) develops networking technologies that enable supercharged connectivity. By combining fixed, mobile and satellite connectivity, users can build always-on networks Key Facts any
Slide 3: Problems We See
Problems We See Most networking gear assumes the internet always works. We make connectivity unbreakable. Coverage Gaps Single-Link Fragility Last-Mile Limits Vessels, vehicles and field teams One WAN link means one point of Fixing last-mile problems takes years, operate past the edge of fixed failure
Slide 4: Our Technology
Our Technology SpeedFusion technology seamlessly aggregates fixed, mobile and satellite connections into one bonded intelligent network — delivering resilience, speed and reach that immediately solves connectivity problems. Fiber / Broadband 5G / LTE Supercharged Connectivity Peplink Routers ● Faster
Slide 5: Our Solutions
Our Solutions Built on One SpeedFusion Foundation Balance Routers MAX Routers Enterprise & Branch Networks Transportation & Mobile Deployments Multi-WAN routers designed for enterprise, branch, and retail environments, Rugged routers in compact form factors serving reliable or always-on providing re
Slide 6: Endless Opportunities
Endless Opportunities Established Markets Emerging Opportunities Public Services 27% Enterprise & Construction, Mining & Robotics & Drones Manufacturing 23% Engineering 11% Autonomous Systems Maritime 9% Transport 9% Media & Events 7% Starlink and Other LEOs 6
Slide 7: Physical AI and Real-Time Operations at Scale
Physical AI and Real-Time Operations at Scale Across Established Markets and Emerging Opportunities Mega Infrastructure Seafar BlueFit Texarkana Water Utilities 300+ CONSTRUCTION SITES 50+ SEMI-AUTONOMOUS VESSELS AI-ASSISTED POOL SAFETY 21 REMOTE PUMP STATIONS Deployed Peplink for aggregated Bonds m
Slide 8: Supercharged Connectivity Progress
Supercharged Connectivity Progress Supercharging Race Operations RLL RACING × PEPLINK Rahal Letterman Lanigan Racing rebuilt its ageing enterprise network core with Peplink at its Indianapolis headquarters. Using SpeedFusion, the team was able to bond different networks at various locations to provi
Slide 9: Peplink-Starlink Collaboration
Peplink-Starlink Collaboration Recent Peplink-Starlink Deployments Expanded Offerings Hurtigruten Cruise Line in Norway Deploys Peplink across 11 vessels to combine Starlink, LTE/5G, and other WAN connections, delivering reliable connectivity across Arctic routes and remote coastal areas with centra
Slide 10: Performance Over Years
Performance Over Years Sustained Growth and Margin Discipline Revenue Growth Gross Margin 15%+ CAGR ~55%+ Sustainable growth Long-term positive from more underpinned by secular trends recurring revenue Net Profit Growth Net Margin 20%+ CAGR ~35%+ Consistently outpaces revenue Improvements from operat
Slide 11: Interim Results 2026
technologies Interim Results 2026
Slide 12: Finance Summary
Finance Summary (US$'000, unless otherwise stated) 1H25 1H26 YoY Growth (%) Revenue 62,943 74,596 +18.5% Gross Profit 34,963 43,846 +25.4% Operating Expenses and Finance Cost (10,341) (11,641) +12.6% Other Income & Gains 1,956 1,119 (42.8%) Profit Before Tax 26,577 33,324 +25.4% Net Profit 21,665 27,72
Slide 13: Revenue by Segment
Revenue by Segment Segment (US$'000) 1H25 1H26 YoY Highlights Fixed First Connectivity 7,616 10,942 +43.7% Strong growth from MSP partners and edge computing products Mobile First Connectivity 36,831 40,299 +9.4% Warranty and Support Services 13,441 16,242 +20.8% Driven by continued growth of subscr
Slide 14: Recurring Revenue
Recurring Revenue Recurring vs Non-Recurring Period Ended 30 June (US$'000) 1H25 1H26 YoY HIGHLIGHTS Non-Recurring Revenue 45,245 52,531 +16.1% Recurring Revenue 17,698 22,065 +24.7% 29.6% of total sales (1H25: 28.1%) Total 62,943 74,596 +18.5% ● Devices with a subscription at 30 June 2026 increased
Slide 15: Revenue by Region
Revenue by Region 1H26 Revenue by Region Region (US$'000) 1H25 1H26 Growth (YoY) North America 34,394 43,734 +27.2% EMEA 20,497 19,989 -2.5% Asia 5,862 7,171 +22.3% Others 2,190 3,702 +69.0% Total 62,943 74,596 +18.5% 15
Slide 16: Gross Margin
Gross Margin From 55.5% in 1H25 to 58.8% in 1H26 Favourable product mix towards high-end routers, such as dual cellular routers and edge computing products Higher sales contribution from recurring revenues, which carry a 92.9% gross margin Gross Margin, Non-Recurring Sales vs Recurring Sales 1H25 1H
Slide 17: Operating Expenses
Operating Expenses Operating Expenses (US$'000) % of Revenue 1H25 1H26 1H25 1H26 HIGHLIGHTS Selling and Distribution Expenses 1,821 1,796 2.9% 2.4% From 16.1% (1H25) down to General and Admin Expenses 3,710 4,312 5.9% 5.8% 15.4% (1H26), with expanded headcounts in R&D while Research and Development
Slide 18: Balance Sheet and Cash Flow Highlights
Balance Sheet and Cash Flow Highlights Balance Sheet Summary (US$’000) Dec 2025 Jun 2026 Cash Flow Summary (US$’000) 1H25 1H26 Trade and Other Receivables 27,540 34,778 Cash Flows from Operating Activities 22,270 15,099 Inventories 18,181 27,422 Cash Flows from/(used in) Investing Activities 486 183
Slide 19: Appendix: Revenue Recognition of Different Segments
Appendix Revenue Recognition of Different Segments Segment Product / Service Description Revenue Model ● Enterprise Routers ● Hardware sales plus 12 months’ embedded warranty and Fixed First Connectivity ● Network Switches access to software features ~85% of selling price non-recurring ● Mobile Rout
Slide 20: Thank You
Thank You Disclaimer Plover Bay Technologies Limited (the “Company”) is incorporated in the Cayman Islands with limited liability and listed on the Main Board of The Stock Exchange of Hong Kong Limited (Stock Code: 1523.HK). The information contained in this presentation is provided solely for your
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