Bk Technologies Corporation · AMEX:BKTI
Bk Technologies — Q4 2022 Earnings Presentation
13 slides from Bk Technologies's earnings presentation, Mar 16, 2023
Slide 1: Fourth Quarter 2022 Earnings Results
BK TECHNOLOGIES FOURTH QUARTER 2022 EARNINGS RESULTS NYSE American: BKTI March 16, 2023
Slide 2: Disclosures
DISCLOSURES Forward-Looking Statements This presentation contains certain forward-looking statements that are made pursuant to the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company’s operations, economic performance
Slide 3: Fourth Quarter Highlights
FOURTH QUARTER HIGHLIGHTS RECORD RADIO SHIPMENTS • 11,200 radios shipped in the Q4 • 25,200 radios shipped for 2022 • Supply chain issues experienced in Q1 and Q2 have been mitigated • Production lines are fully operational PROGRESSING TOWARDS BKR 9000 MULTIBAND RADIO LAUNCH • Submitted for FCC fili
Slide 4: Record Radio Shipments
RECORD RADIO SHIPMENTS RADIO UNITS SHIPPED QUARTERLY 11,200 Record number of radios shipped 6,100 5,350 2,500 Q1’22 Q2’22 Q3’22 Q4’22 Material Shortages Cleared in Time for Q4 Shipments 4 NYSE American: BKTI
Slide 5: Positioned for Significant Growth
POSITIONED FOR SIGNIFICANT GROWTH RADIO UNITS SHIPPED ANNUALLY 32,000- 25,200 36,000 22,500 2021 2022 2023 (Projected) 2023 Growth is Projected Between 25-40% 5 NYSE American: BKTI
Slide 6: Progress Advancing BKR 9000: Submitted to FCC
PROGRESS ADVANCING BKR 9000: SUBMITTED TO FCC PROGRESS TOWARDS LAUNCH • December 2022/January 2023 • Delivered radios for FCC testing and certification • Destructive testing conducted, but even driving over the BKR9000 with a 13-ton fire truck could not stop it from working • March/April 2023 • Expe
Slide 7: SaaS Business Unit Launches InteropONE
: SAAS BUSINESS UNIT LAUNCHES InteropONE POTENTIAL $150M MARKET OPPORTUNITY • Federal – Field trials underway with various agencies under DHS, DOJ, USDA and DOI • Received first purchase order for InteropONE PTToC service from large public safety agency in a top five U.S. metropolitan market Availab
Slide 8: Financial Results
FINANCIAL RESULTS 12 months 12 months • Revenue increased 58% to $20.3 million; Lower (in thousands) 4Q’22 4Q’21 ended ended gross margins generally reflect cost increases in 12/31/22 12/31/21 material and freight costs and a one-time inventory adjustment of $254,000 for components Sales $20,339 $12
Slide 9: Focus for 2023
FOCUS FOR 2023 1. Level Load Production • Capacity set to produce up to 10,000 radios per quarter, 40,000 for full year 2023 • Targeting production of 8,000 to 10,000 radios per quarter • Targeting shipment of 32,000 to 36,000 radios for full year 2023 2. Targeting Gross Margin Improvement to 35%+ f
Slide 10: The Future of BK Technologies: Targeting $100M in Revenues by 2025
THE FUTURE OF BK TECHNOLOGIES: TARGETING $100M IN REVENUES BY 2025 • Create a leader in the public safety industry specializing in personal communications devices that maximize safety and efficiency for first responders • BKR 5000 continues to gain traction in the market; BKR 9000 positioned to sign
Slide 11: Q&A
Q&A 11 NYSE American: BKTI 11
Slide 12: Appendix
Appendix NYSE American: BKTI 12
Slide 13: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Three Months Ended Twelve Months Ended (Unaudited) 12/31/22 12/31/21 12/31/22 12/31/21 Sales, net $ 20,339 $ 12,839 $ 50,951 $ 45,364 Net loss $ (961) $ (303) $ (11,633) $ (1,701) Non-GAAP adjustments: Non-cash inventory adjustment 254 - 254 - Non-cash new product development