Etherstack Plc · ASX:ESK
Etherstack — FY2023 Earnings Presentation
14 slides from Etherstack's earnings presentation, Feb 23, 2024
Slide 1: Etherstack Results presentation, Full year ended 31 December 2023
For personal use only Etherstack Results presentation Full year ended 31 December 2023 Etherstack plc (ASX:ESK) 23 February 2024 Authorised for release by David Deacon, CEO and David Carter, CFO
Slide 2: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Etherstack plc (ARBN 156 640 532) (“Etherstack” or “the Company”). The information in this presentation is for information purposes only and is not investment, financial product, legal or tax advice. This presentation contains s
Slide 3: Etherstack delivers strong second half: Financial and Business highlights
Etherstack (ASX:ESK) delivers strong second half Full year profit turnaround after For personal use only impacted first half Financial and Business highlights
Slide 4: Etherstack – what we do
Etherstack – what we do Etherstack is a wireless technology provider that supplies our own mission critical wireless network product to the public safety, utilities and resource sector. The company also licenses key technology to over 20 other For personal use only wireless equipment manufacturers g
Slide 5: 2023 Results & 2024 Growth
2023 Results & 2024 Growth Another solid profit result despite delayed revenues, establishing an excellent base for new growth in FY 2024 and FY 2025. Consistent strong operating cashflows and EBITDA margins over past 3 years For personal use only Globally diversified Over 20+ years Future cellular
Slide 6: 2023 Financial highlights
2023 Financial highlights For personal use only Revenue EBITDA NPAT US $9.42m US $2.35m US $262k Demonstrates revenue 25% Consistently “step up” in last 3 years EBITDA margin generating profits Cash & Receivables Cashflow Recurring revenue growth R&D Investment US $6.34m US $762k US $2.74m Strong ne
Slide 7: 2023 Appendix 4E Snapshot
2023 Appendix 4E Snapshot For personal use only Revenue: in-line with FY2022 and previous FY revenue guidance EBITDA: impacted by product mix gross margin & modest revenue reduction NPAT: impacted primarily by new amortisation (non-cash) charge and foreign exchange swing 7
Slide 8: Revenue highlights
Revenue highlights H1 revenue slippage was recovered Etherstack Revenue (USD ‘000) in H2 For personal use only • $6.503 m revenue generated in H2 from strong 9,681 9,419 project revenues (H1 revenue was $2.906) 8,504 • 2023 revenue is down 2.7% from 2022 • Step change in revenue 2021 has been mainta
Slide 9: Recurring revenue remains a core focus for Etherstack
Recurring revenue remains a core focus for Etherstack Support revenues are down $76 on 2022 levels. Four offsetting factors at Support revenues 2020-2023 play: and forecast 2024-2025 For personal use only (USD '000) Positive 2,500 • New revenues driven by: • New network deployments 2,000 • Increment
Slide 10: Income Statement
Income Statement Key points US$'000 2023 2022 • Revenue of US$9.419 – 2.7% below Revenue from Contract with Customers 9,419 9,681 2022 For personal use only • Gross Margin of 55% note 1 . Cost of Recurring support and Royalty revenue 1,933 2,268 sales increased by $1,093 - The Project and Product Re
Slide 11: Balance Sheet & Cash Flow Statement
Balance Sheet & Cash Flow Statement Balance Sheet Cash Flow Statement US$’000 31-Dec-23 31-Dec-22 US$’000 2023 2022 Net cash generated from operating For personal use only Cash and cash equivalents 2,061 1,918 762 2,165 activities Trade and other receivables - current 4,279 3,492 Net cash flow (used
Slide 12: Strong outlook driven by focus on key strategic initiatives
Strong outlook driven by focus on key strategic initiatives For personal use only License and supply Commencement Expansion of existing of defence of upgrades to Australian & communications virtualised International public solution to other switching solutions safety networks nations across installe
Slide 13: Questions
For personal use only Questions
Slide 14: For personal use only
London New York 64 Rose Street, +44 207 734 0200 +1 917 661 4110 Chippendale NSW 2008 info.eu@etherstack.com info.na@etherstack.com Phone +61 2 8399 7500 For personal use only Sydney Yokohama David Deacon, CEO +61 2 8399 7500 +81 45 342 9050 david.deacon@etherstack.com info.au@etherstack.com info.jp