In This Article:
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Revenue: GBP 1 million, slightly down from the prior year, primarily from grant funding.
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EBITDA Loss (excluding share-based payments): GBP 1.9 million, unchanged from the prior year.
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Cash Balance: GBP 10.1 million, down from GBP 13.2 million in the prior year.
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Stereax Revenue Projection: Initial revenue expected from Stereax product sales by the end of the financial year/start of the next financial year.
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Goliath Revenue Projection: Cumulative income expected to grow over a 10-year period, with licensing and battery royalties as significant contributors.
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Grant Funding: Continued support expected, with GBP 2 billion available for the UK automotive industry over the next five years.
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Commercial Income from Goliath: Just under GBP 10,000 from commercial collaborations in the half-year to October.
Release Date: January 21, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Ilika PLC (ILIKF) has a strong patent portfolio with 62 patents, providing robust protection for its intellectual property.
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The company has a diversified market approach, targeting both medical devices and automotive sectors, which reduces execution risk.
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Ilika PLC (ILIKF) has a licensing and royalty agreement with Cirtec, validating its Stereax technology and enabling scale-up for production.
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The company has completed the commissioning of equipment at Cirtec Medical, paving the way for product release and revenue generation.
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Ilika PLC (ILIKF) has received positive feedback on its Goliath batteries, which have been tested by automotive customers and show promising safety and performance benefits.
Negative Points
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The company is still in the early stages of revenue generation, with initial revenues expected to be low as products undergo lab-based trials.
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Ilika PLC (ILIKF) faces challenges in providing forward guidance due to the nascent stage of its production and commercialization efforts.
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The company is reliant on grant funding, which has seen a hiatus, impacting its financial planning and cash flow management.
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There is uncertainty around the timeline for Goliath battery commercialization, as it depends on licensing discussions over the next 18 to 24 months.
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Ilika PLC (ILIKF) has experienced a decrease in turnover, primarily due to the winding down of major grant funding projects.
Q & A Highlights
Q: In which financial year do you anticipate starting potentially profitable production of a first commercial battery product? A: Stereax production is expected to commence in 2025, with batteries being dispatched to customers by mid-year. Goliath batteries will continue development, with timelines dictated by licensing discussions over the next 18 to 24 months. - Jason Stewart, CFO