Slide 1: Financial Results Material for Fiscal Year Ended March 2024
Financial Results Material for Fiscal Year Ended March 2024 ispace, inc. (Securities Code：9348) May 10, 2024 Expand our planet. Expand our future. copyright©ispace,inc. 2024 1
Slide 2: Table of Contents
Table of Contents 1 | About ispace (Overview) 2 | FY2024/3 Summary and Q4 Business Highlights 3 | Financial Results for Fiscal Year Ended March 2024 4 | Financial Forecast for Fiscal Year Ending March 2025 and KPI Expand our planet. Expand our future. copyright©ispace,inc. 2024 2
Slide 3: Disclaimer
Disclaimer • This presentation was prepared by ispace, inc. (referred to as the “Company”, “ispace”, or “we” herein) solely for informational purposes. • This document contains forward-looking statements, which reflect the Company's assumptions and outlook for the future and estimates based on infor
Slide 4: About ispace (Overview)
About ispace (Overview) Expand our planet. Expand our future. copyright©ispace,inc. 2024 4
Slide 5: Our Vision: Expand our planet. Expand our future.
Our Vision EXPAND OUR PLANET. EXPAND OUR FUTURE. Creation of a world where the Earth and the Moon are one ecosystem, establishing a new economy on the Moon ⚫ “Moon Valley 2040” is an outlook on the world representing ispace’s vision EXPAND OUR PLANET. EXPAND OUR FUTURE ⚫ We envision 1,000 people liv
Slide 6: Why the Moon?
Why the Moon? The potential of the Moon as a “fuel supply base” utilizing water (H2O) that exists(1) in the form of ice with an estimated mass of as much as 6.6Bn tons(2) on the Moon ENVISIONED ECOSYSTEM(3) BRINGS THE EARTH & MOON TOGETHER H 2 O (4) Decreasing costs to access areas of 1 / 6 G (5) de
Slide 7: Business Area
Business Area The lander developed by ispace is launched into outer space on an external vendor’s rocket. After the lander navigates on its own to the lunar surface, the plan is for the lander and rover to explore and acquire data from lunar surface Launch using an external The lander navigates and
Slide 8: Core Service
Core Service Payload service and Partnership service are the current business pillars of ispace. We plan to establish Data service in the future Payload service Data service Partnership service Customers are expected to acquire significant data Transport customers’ payload to the Moon. from payloads
Slide 9: Achievements and Mission Schedule
Achievements In 2022, ispace became the first commercial company to successfully launch a lunar lander. Our Mission Schedule(1) 2022 December 11, 2022 @ Cape Canaveral on SpaceX Falcon 9 Mission 1 2023 2024 Mission 2 2025 2026 Mission 3 Mission 4 2027 Mission 5 Mission 6 (1) As of February 13, 2024
Slide 10: Achieved 8 out of 10 Success Milestones in Mission 1
Mission KPI 1 Success Milestones Achieved 8 out of 10 Success Milestones, despite not being able to achieve lunar landing. M1はミッション期間のsuccess5まで達成 Acquired valuable data until the end of landing sequence Success 4 ✓ Success 3 ✓ Completion of first orbital Establishment of a control maneuver Steady O
Slide 11: Mission Achievements
Mission 1 Achievements Became the first private company to reach the final lunar landing phase. Gained valuable data that can be used in future missions, and established the policy for Mission 2 and beyond, considering the results of Mission 1 ⚫ Improve the reliability during Mission 2 and future mi
Slide 12: FY2024/3 Summary and Q4 Business Highlights
FY2024/3 Summary and Q4 Business Highlights Expand our planet. copyright©ispace,inc. 2024 12
Slide 13: Business Environment and Highlights
FY2024/3 Summary and Q4 Business Highlights ⚫ The lunar industry has rapidly grown as various companies and institutions including ispace (Japan), ISRO (India), CNSA (China) , JAXA (Japan), Astrobotic Technology (U.S.), and Intuitive Machines (U.S.) etc. consecutively carried out lunar landing missi
Slide 14: Japan's role in the Artemis program
Business Environment Japan’s role in the "Artemis program" was officially confirmed, which will further strengthen Japan-U.S. space cooperation ⚫ During Prime Minister Kishida's visit to the U.S, the governments of the U.S. and Japan signed the “Lunar Surface Exploration Implementing Arrangement”(1)
Slide 15: Our Future Mission Plan
Our Future Mission Plan Currently developing three landers simultaneously: in Japan for Mission 2 (scheduled launch in 2024) and Mission 6 (scheduled launch in 2027) and in the U.S. for Mission 3 (scheduled launch in 2026) 1 R&D 3 Commercial Series 3 Lander (1) Japan M1 (2022) M2 (2024) M3 (2026) M4
Slide 16: Mission 2 Progress: Payloads integrated
Mission Progress | Mission 2 Payloads to be transported are now integrated into RESILIENCE lander for launch in Winter 2024 Mission2 Winter 2024 Self-contained module for food Deep space radiation probe production experiments (National Central University, Taiwan) (Euglena) ⚫ Mounted on: Top Plate ⚫
Slide 17: Mission 2 Progress: Micro Rover testing
Mission Progress | Mission 2 Engineering model(1) of Micro Rover completed all environmental testing and scheduled to be mounted on RESILIENCE lander in summer 2024(2). Mission2 Winter 2024 An engineer in EU entity prepares the micro rover for environmental testing. (L) Daniel Neuenschwander, ESA Di
Slide 18: Mission 3 Progress: New PSA and satellite bus contract
Mission Progress | Mission 3 Entered into new PSA(1) with a private Romanian company as well as a contract with a private U.S. company for the design and manufacture of microsatellite buses Mission3 2026 New Mission 3 PSA(1) with CDS Contract with RTX’s Blue Canyon Technologies From left to right: i
Slide 19: Mission 3 Progress: Data relay service
Mission Progress | Mission 3 Announced official launch of data relay service enabled by two relay satellites Mission3 2026 Plan to provide Data Service in Mission 3 and beyond ⚫ The satellites will circularize into a High Circular Polar Orbit starting with near-global coverage with linger points at
Slide 20: Mission 6 Progress: SBIR grant and lunar night research
Mission Progress | Mission 6 SBIR(1) program grant to cover part of lander development costs, credited from May or June 2024. University of Leicester and ispace agreed to joint research on lunar night survival Mission6 2027 Estimated payment of SBIR program subsidies Started joint research to surviv
Slide 21: Interim PSA signed with University of Leicester
Business Progress (Sales) | Future Mission and Strategy for Business Growth In addition to the Advisory Agreement, an interim PSA(1) was signed with the University of Leicester + ⚫ A new interim PSA(1) was signed with the University of Leicester in the UK ⚫ The University of Leicester has been suppo
Slide 22: Hydrogen value chain players entering the cislunar ecosystem
Business Progress (Sales) | Future Mission and Strategy for Business Growth Various industry players in the hydrogen value chain(1) are entering the cislunar ecosystem(2) which is expected to further expand Our relationship: Advisory Agreement and iPSA Our relationship: PSA Our relationship: PSA Uni
Slide 23: Overview of Overseas Offering
Business Progress (Financials) | Overview of Overseas Offering (Reiteration) Raised approx. 8.36 Billion yen Through International Offering in March 2024 Class of Shares Total Paid Amount Common stock of ispace Offered (before deducting estimated offering expenses) Format of Offering International o
Slide 24: Use of proceeds raised by the Offering
Business Progress (Financials) | Use of proceeds raised by the Offering (Reiteration) The raised funds are intended to be used primarily for Mission 3 (2026(1)) to ensure the development and execution of the mission. Mission 3 development will accelerate the technological quality improvement cycle f
Slide 25: New loans from Sumitomo Mitsui Banking Corporation
Business Progress (Financials) | Use of proceeds raised by the Offering (Reiteration) ¥7Bn (including partial refinancing) new loans from Sumitomo Mitsui Banking Corporation at the end of April 2024. The total amount raised including the overseas offering is approx. ¥15.1Bn FY2024 FY2025 FY2026 FY20
Slide 26: Sustainable Business Model (Overview)
Business Progress (Financials) | Sustainable Business Model (Overview) Our business model involves multiple missions, developed in parallel; feedback from the preceding mission is transferred to the subsequent mission in a timely and appropriate manner to enhance the maturity of the technology. It i
Slide 27: Financial Results for Fiscal Year Ended March 2024
Financial Results for Fiscal Year Ended March 2024 Expand our planet. copyright©ispace,inc. 2024 27
Slide 28: Profit and Loss Statement
Profit and Loss Statement Net sales for Fiscal Year Ended March 31, 2024, were generally in line with forecasts, while net loss narrowed significantly point FY2024/3 FY2024/3 FY2023/3 ⚫ Net Sales: Full year Full year Full year Net sales for Fiscal Year Ended March 2024 were %Change %Change overall i
Slide 29: Profit and Loss Statement: SG&A
Profit and Loss Statement | SG&A SG&A decreased from the previous fiscal year due to a decline in R&D costs point FY2024/3 FY2023/3 ⚫ R&D: In Fiscal Year Ended March 2023, costs related to Full year results Full year results %Change Mission 1 and Mission 2, which are defined as R&D (Millions of yen)
Slide 30: Balance Sheet
Balance Sheet Advances and non-current assets increased due to accelerated development of Mission 2 and 3. Maintained liquidity and financial stability through capital increase and additional borrowings point FY2024/3 FY2023/3 Assets: ⚫ Cash and deposit in Fiscal Year Ended March 2024 (Millions of y
Slide 31: Statement of Cash Flows
Statement of Cash Flows Continued to cover free cash flow deficit due to increased development costs with cash flow from financing activities including capital increase and borrowings from financial institutions Point FY2024/3 FY2023/3 Cash Flow form Operating Activities: (Millions of yen) Full year
Slide 32: Financial Forecast for Fiscal Year Ending March 2025 and KPI
Financial Forecast for Fiscal Year Ending March 2025 and KPI Expand our planet. copyright©ispace,inc. 2024 32
Slide 33: Outlook for Fiscal Year Ending March 2025
Forecast for FY2025/3 Outlook for Fiscal Year Ending March 2025 ⚫ Mission 2: In advance of its launch in Winter 2024, the RESILIENCE Lander is scheduled to be transported to Florida after AIT and final testing. The aim is steady execution of lunar landing operations by utilizing the data acquired th
Slide 34: Forecast for FY2025/3
Forecast for FY2025/3 Total net sales are expected to increase in FY2025/3 along with increased Mission 3 revenue recognition. Meanwhile a significant net loss is expected due to scheduled Mission 2 launch and full development of Mission 3, which is in line with the original plan and similar level a
Slide 35: Net Sales by Service
Net Sales by Service Net sales from Mission 3 payload service are expected to accelerate overall net sales in FY2025/3. Point (Billions of yen) Payload Data Partnership Other ⚫ Net sales in FY2025/3 are expected to be continuously driven by payload 4.0 service, with more than 90% of the sales contri
Slide 36: Changes in Net Loss
Changes in Net Loss In FY2024/3, one-time gain was recorded due to the impact related to Mission 1. In FY2025/3, continuous investments in Mission 2 and Mission 3 are expected as planned. (Billions of yen) Point Mission 1-related impact ⚫ While significant net loss of ¥12.4Bn is expected compared to
Slide 37: Our KPI: Sales Pipeline
Our KPI CDR for Mission 3 Lander development is expected to be completed by summer of this fiscal year. For the sales for Mission 3 and beyond, continue to finalize interim PSA(1) into final agreements and obtaining new PSA from approx. $290MM sales pipeline CY2022 CY2023 CY2024 CY2025 CY2026 CY2027
Slide 38: Illustrative Business Model of Payload Service
Illustrative Business Model Illustrative Business Model of Payload Service For illustrative purposes only; all values are rounded off to integral values and subject to change present Planned Total Mission revenue recognized(2) over… Internal use Customer Total mission sellable payload contract paylo
Slide 39: Never Quit the Lunar Quest
Never Quit the Lunar Quest 私たちは歩み続けます。 Expand our planet. Expand our future. copyright©ispace,inc. 2024 |