Beam Communications Holdings Limited · ASX:BCC
Beam Communications — FY2024 Earnings Presentation
17 slides from Beam Communications's earnings presentation, Aug 29, 2024
Slide 1: FY24 Results
FY24 Results 29 August 2024 | BSX:BCC © 2024 Beam Communications -1-
Slide 2: Disclaimer
Disclaimer This document has been prepared by Beam Communications Holdings Limited and comprises written material/slides for a presentation concerning Beam Communications Holdings Limited and its subsidiaries. The presentation is for information purposes only and does not constitute or form part of
Slide 3: Real Success: Proven Products, Remarkable Outcomes
Real Success: Proven Products, Remarkable Outcomes Iridium GO! Iridium GO! exec ZOLEO ZOLEO Preet Chandi used Iridium GO! Rosaline Chaston and Andy Trail Bus adopted ZOLEO 49 North Helicopters integrated during her solo trek to the South Hodgson used Iridium GO! exec devices for better ZOLEO devices
Slide 4: FY24 Highlights
FY24 Highlights Headline Financials • 1 Revenue $32.8m • GM 30% • Normalised EBITDA $3.1m Financial Strong finish to FY24 as expected, delivers positive Free Cash • Positive FCF of $0.8m for FY24 (excl. arbitration payments) 2 • Cash at bank is at $3.1m, up from $2.7m at March 2024 • Capex efficienc
Slide 5: Strong Multi-year Growth
Strong Multi-year Growth Operating Revenue ($m) EBITDA* ($m) 3-year CAGR 21% 3-year CAGR 18% $39.6 $4.3 $32.8 $3.1 $23.7 $18.5 $1.9 $1.4 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Higher quality revenue and earnings as revenue mix shifts to recurring. Normalised EBITDA excludes ~$3m of arbitration rela
Slide 6: Revenue | Strong recurring revenue +67%
Revenue | Strong recurring revenue +67% Revenue ($m) Other Recurring Zoleo $1.7 $0.9 $1.0 $0.7 FY '23 FY '24 Increased contribution from ZOLEO Royalty Fees and Other Recurring © 2024 Beam Communications -6-
Slide 7: EBITDA | Resilient margins
EBITDA | Resilient margins OPEX well managed with Revenue -17% and EBITDA margin stable Normalised EBITDA* ($m) Margins 35% 30% 25% Revenue -$6.8m 20% COGS +$6.2m 15% 10% 5% 0% FY21 FY22 FY23 FY24 GM Margin EBITDA Margin * Normalised EBITDA excludes ZOLEO arbitration costs of ~$3m © 2024 Beam Commun
Slide 8: Core Beam (excl. ZOLEO) | Performance
Core Beam (excl. ZOLEO) | Performance Revenue ($m) Highlights 3-year CAGR 25% $27.6 $20.6 Recurring Lower sales of Iridium Iridium Go exec® GO YoY, ongoing continuing deliveries Hardware committed orders from against 5 year / Iridium into FY25 USD20M commitment $12.0 $10.9 Beam branded Terminals The
Slide 9: Beam ZOLEO | Performance
Beam ZOLEO | Performance 1 Revenue ($m) Highlights Royalty 3-year CAGR 115% Royalty + Hardware 3-year CAGR 19% $1.0 $0.4 $0.7 $ Royalty (Recurring) Hardware Gross margin expanding ZOLEO activations for as recurring revenue ANZ ahead of PCP, $0.1 grows up 10% $8.8 $8.7 $9.2 $5.9 Channel demand Inhere
Slide 10: SatPhone Shop | Performance
SatPhone Shop | Performance Highlights Revenue ($m) 3-year CAGR 3% $2.5 $2.4 Leveraged for growth in Recurring airtime $2.0 the Mobile Satellite revenue (sold through $1.8 Service market with SPS) grew 10% YoY expanded product range Strategic value in SPS New website due for which gives Beam an laun
Slide 11: P&L Summary
P&L Summary FY24 FY23 FY22 FY23 – FY24 Summary: ($m) ($m) ($m) % Change • Revenue decline YoY due to Revenue 32.8 39.6 23.7 (17.2%) overall softer performance, exacerbated by the timing of Gross Profit1 10.0 12.2 6.5 (18.2%) hardware sales and the order profile for Iridium GO! exec. Gross Margin %1
Slide 12: BCC | Group Balance Sheet
BCC | Group Balance Sheet FY24 FY23 FY22 Current Assets $’000 $’000 $’000 Working Capital Investment $m Cash 3,107 4,951 5,775 Trade Receivables 4,953 5,321 6,036 Inventory 6,628 8,965 4,735 Inventory Provision (944) (1,503) (400) Total Current Assets 13,744 17,734 16,146 Non Current Assets Developm
Slide 13: BCC | Cash Flow
BCC | Cash Flow FY24 FY23 FY22 $,000 $,000 $,000 Positive FCF Excluding Arbitration Payments Opening Cash 4,951 5,775 3,707 Customer Receipts 36,536 39,608 28,176 Payments to (34,544) (37,156) (27,856) Suppliers Other Operating (688) (37) 6 Cash Flows Operating Cash Flows 1,304 2,415 326 Investing C
Slide 14: ZOLEO Inc | Strong Performance
ZOLEO Inc | Strong Performance ZOLEO Device Usage - Cumulative Message Count ZOLEO Subscribers (Feb 2020 to March 2024) (July 2020 to March 2024) 50,000,000 100,000 75,000 25,000,000 50,000 25,000 0 0 F A J A O D F A J A O D F A J A O D F A J A O D F A J J S N J M M J S N J M M J S N J M M J S N J M
Slide 15: ZOLEO Arbitration Update
ZOLEO Arbitration Update • The formal process of Arbitration commenced in January 2024, between Beam and the JV Partner. • In Canada on 29 April 2024 there was an Arbitration hearing lasting 2 weeks between Beam and the JV Partner. • In early June 2024 written final submissions were provided. • Ther
Slide 16: Beam | FY25 Outlook
Beam | FY25 Outlook Strategic Focus Financial Expectations Core Business: Revenue mix shift to continue with: • Forecast for continued strength in core Beam branded • Growth in higher margin recurring revenue offset by Docks & Accessories reduced GO! , GO! exec and ZOLEO orders. • Secured orders fro
Slide 17: Contact
Contact investor@beamcommunications.com Michael Capocchi Dean Sleigh Managing Director Chief Financial Officer © 2024 Beam Communications - 17 -
Beam Communications Holdings — FY2024 Earnings Presentation on 6ix