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IndigoVision Group plc Presentation of 2002 1 st Half Results Oliver Vellacott – CEO Alan Bennie – CFO

IndigoVision Group plc Presentation of 2002 1 st Half Results Oliver Vellacott – CEO Alan Bennie – CFO. First half progress. Turnover up 50% on 1H01 to £1.1m 1 new licensee and 3 repeat licensees Gross profit up from 57% to 67% Monthly cash burn reduced from £800k to £700k

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IndigoVision Group plc Presentation of 2002 1 st Half Results Oliver Vellacott – CEO Alan Bennie – CFO

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  1. IndigoVision Group plcPresentation of 2002 1st Half ResultsOliver Vellacott – CEOAlan Bennie – CFO

  2. First half progress • Turnover up 50% on 1H01 to £1.1m • 1 new licensee and 3 repeat licensees • Gross profit up from 57% to 67% • Monthly cash burn reduced from £800k to £700k • Cash balances of £27.8m • Broadened channel reach outside CCTV

  3. H1 operational highlights • New licensee: Spawar • 3 repeat licensees: Baxall, Cirrus and Ultrak • Licensee unit shipments overtook our own in Q2 • Strategic alliance with StorageTek • 3 major product launches • Additional airport implementation: Schipol

  4. Consolidated Profit & Loss Account

  5. Revenue (£000) • In Q2 02: • Revenue doubled on Q1 • Strong contribution across all • business areas • - £0.25m in license revenues • - Highest platform revenues • - Highest royalty revenues

  6. Revenue (£000) • In the half year: • Record half year revenue • 54% increase over 1H 01

  7. Revenue by geography(£000) 83 • North America revenue increased by 127% over 1H 01 • - strong growth in Q2 • Tokyo office staffed from Q1 02 • - Asia revenue now includes significant platform sales 230

  8. Revenue by source£000 • 1H 02 Licence and related revenues = £0.6M • + 100% on 1H 01 • 1H 02 Licence/platform revenue split = 60/40 • (1H 01 = 46/54)

  9. Platform shipments + licensed product • Baxall and Ultrak now • generating royalties • Panasonic royalties in 2nd half 2002

  10. Consolidated Profit & Loss Account

  11. Gross profit • Gross profit percentage up a further 10 points to 67% • Improvement generated from: - further cost reduction in product designs - proportionate growth in licence and related revenue

  12. Consolidated Profit & Loss Account

  13. Research & development • R&D spend £1.6M, up 75% on 1H 01 • Headcount now 61 • Further additions subject to roadmap justification

  14. Consolidated Profit & Loss Account

  15. Other overhead • Spend £4.1M, up 37% on 1H 01 • Sales & marketing & field engineers headcount now 36 - additions in US and EU - Tokyo additions planned in Q3 • Investment in CRM system - essential to manage partner programme

  16. Employees • Headcount up from 98 to 114 • Contract engineering staff • reduced

  17. Consolidated Balance Sheet

  18. Current assets • Stocks up to £0.6M => 3.3 months’ forward demand • Debtors up to £1.3M => Trade debtors 88 days • Cash £27.8M Cash burn reduced to £0.7M per month

  19. Live Networked Video (LNV) solutions CAMERA IP NETWORK STORAGE IP NETWORK APPLICATION

  20. TECHNOLOGY CHANNEL Our marketing strategy PUSH PULL

  21. Push design licenses at OEMs MAINSTREAM PUSH VBDK IP CAMERA NVR-SDK Strategy is to win CCTV OEMs first Use Mainstream to win camera OEMs

  22. Push enabling products at channel PUSH CONTROL CENTRE IP CAMERAVB6000 NVR Strategy is to win channel adoption Will move to pure OEM licensing ultimately

  23. Releases: Digital IP cameraavailable as product & design license

  24. Releases: Web serverLive Networked Video on web pages

  25. Releases: Control Centreavailable as product & design license

  26. Enable channel pull Partner Programme provides training, consultancy, major-bid support, connection to OEM licensees, technical support CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL PULL

  27. CAMERA RECORDER APPLICATION We need to work across whole marketto establish it as a standard CHIP CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL

  28. Hence…key deals this half CIRRUS SPAWAR MILESTONE CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL x11 PARTNERS STORAGETEK

  29. CIRRUS SPAWAR MILESTONE CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL Key deals: Spawar • US Space & Warfare Systems Command agency • IndigoVision video in Spawar robots at Ground Zero • License to manufacture IndigoVision-powered cameras • Spawar will mandate relicense into defence applications • Key supplier to US DoD

  30. CIRRUS SPAWAR MILESTONE CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL Key deals: Cirrus Logic • Agreement to design ASIC based on Mainstream • Further license fee • Royalty per chip • July 2002 tape-out • Targeting networked video market, US & Asia • Other consumer video applications

  31. CIRRUS MILESTONE SPAWAR CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL Key deals: Milestone • Danish-based developer of Windows apps • World market leader in security & access control apps • Milestone channel for IndigoVision-enabled products • Milestone adds support for IndigoVision to its apps • IndigoVision channel gets Milestone apps

  32. CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL 11 CCTV joiners to partner programme

  33. StorageTekstrategic alliance CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL Worldwide, but in North America alone: • 4 StorageTek VARs promoting IndigoVision products • 15/20 sales offices per VAR across North America • 160 sales personnel

  34. Addressable market

  35. Outlook • License funnel strong • Get CCTV OEMs first • Get camera OEMs using Mainstream • Channel pull increasing • Control Centre complete application for security • Channel can deploy without waiting for 3rd party apps • Access non-CCTV channels thru alliances

  36. Summary • New & repeat licensing improving • Significant gross margin improvement • Technology lead extended by Mainstream • Channel reach extending beyond security • Strong balance sheet • Careful cost management • Positive outlook

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