The following is a summary of the Ilika Plc (ILIKF) Q2 2024 Earnings Call Transcript:
Financial Performance:
Ilika reported a reduced EBITDA loss of £1.9 million from £4.1 million year on year due to increased revenues and reduced expenses.
The company curtailed high-energy cost activities related to Cirtec and saved around £1.5 million in administrative costs compared to the previous year.
Ilika reported a half-year cash balance of £13.2 million.
The firm secured grants that mitigated capital expenditures, significantly extending the duration of its financial runway.
Business Progress:
Ilika is developing its key products; Stereax miniature cells and Goliath large format cells.
The majority of Stereax orders originate from the medical sector, while the industrial IoT sector accounts for a significant percentage.
The company has partnered with Cirtec for scaled-up Stereax production.
The firm is in pre-commercial discussions with 17 companies (mainly in the automotive sector) for the Goliath line.
Ilika plans for Stereax to start generating product-based revenue by 2025 and expects licensing revenue in 2024.
Ilika is focusing on enhancing ESG efforts to meet demands from the med tech and automotive sectors.
The firm adopts an asset-light licensing model, prioritises R&D over manufacturing, and explores additional licensing opportunities beyond the med tech sector.
Potential customers or licensees for the Goliath and Stereax product lines total 17.
The company is making progress in the development of solid-state batteries and anticipates revenue generation at various sample stages.
More detailed: ILIKA PLC IR
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