Full Year 2023 Maris-Tech Ltd Earnings Call
Control of remote platform.
And it should be as low as possible modest declared 100 milliseconds and to emulate.
Now when it comes to H computing.
Most of the edge computing related applications, such as small drones are very sensitive to size weight and power consumption Morris technology. The wide range of modest hardware and software solutions answer these requirements and provide at technology.
Which is crossing large and fast growing markets and applications now which is it is.
It is important it is important to mention that.
Announcement, we have published yesterday.
About the cooperation with Renaissance.
A strong evidence of the recognition of the Morris technology, and the recognition that might get from the market leaders.
In regards to what we have developed.
Let me now take you through the applications in which models is involved and deployed this applications tool will give you much better view of what technology is capable to do so let's start with defense.
Defense now is one of the most important markets for the <unk> technology and Unfortunately, we cannot ignore the fact that these.
Defense placed these days and important role all over the world, especially due to the war in Ukraine and here in Israel. We also cannot ignore the fact that.
The more than Butterfield is significantly changing.
And incident remote visual information are creating a revolution and as a result.
Defense budgets significant significantly growing if we are looking now on the list of applications in which <unk> is involved in each one of them we can see.
The drones markets Dawns now are everywhere. They are used in military applications, we're talking both indoors and outdoors drones, which are used for attacks for intelligence gathering and <unk> is providing the biggest payloads for such loans I can tell you that we have almost.
We are already have thousands of drones equipped with the modest technology here in Israel and in many other locations worldwide.
Our motor vehicles situational awareness. That's also an important part of AI capabilities were.
The people sitting within an armored vehicles to get any indication about threats.
Around surrounding the armored vehicle.
Without going into too detailed models during the last few months already equipped hundreds of armoured vehicles with our situational awareness solutions and we are now in these days.
Providing and delivering a few hundreds more.
And I can tell you that from the feedback that we're getting from the Butterfield our technology saving lives.
Other applications are related to midsized missile launches loitering munition special forces tactical devices.
And another important market that <unk> is dealing with it is together with intelligence agencies. We are developing now and we won a few tenders for AI based sophisticated intelligence gathering and we are going to play an important role in this market and of course many other.
Unmanned vehicles, such as Uavs.
Unmanned ground vehicles and similar.
This slide is an excellent.
Friction of where Morris is March is inside each and every application that you may see in this slide and it can be in a satellite it can be on a infantry soldier. It can be in a sniper side or it can be an aircraft or a military though so the <unk> technology is good enough to.
A wide range of defense applications, as well as others and provide everything you need in the modern battlefield, bringing the information to the operator or to the headquarters in order for the <unk>.
Headquarters to take decisions during the war.
Another important market is the homeland security models is providing solutions for low end low.
Law enforcement border control and a lot of solution with miniature devices and low power devices for covers applications on our remote blood.
Myles is also involved in space applications I believe that based on the announcements we have made in the past.
We have provided the video for the Israeli first satellite that was launched in the mall to better ship, one which was providing video until the last moment before the the satellite pressed on the Moon.
<unk> been awarded.
With the new project, the Brazil too.
We have a project with a U S company for situational awareness in space.
Where we provide high quality visual data acquisition collision avoidance docking and proximity and many other space related applications and this project is in process.
Smart City and Safe City are also important applications, where we are using our technology together with partners in the area of AI applications and technologies are now serving crowd control traffic monitoring and other smart city applications.
<unk>, we can even use the technology.
In commercial applications of drones delivery.
March retail when we can take behavior of cut.
Customers in more than similar sites site infrastructure precision agriculture and machine vision.
Now this market of the age computing is expanding and exploding now every every new research shows bigger and bigger numbers as of today based on some of the research we're talking about a market of 50 billion.
During 2023, which may grow up to more than 100 billion.
Thousand 28, and I have the feeling that within a year, we have a research which shows much more than that.
<unk> also expanding its.
Our market presence.
Except of Israel, which is our main market as of now, but we have a lot of activities worldwide. We are now in the far east.
Ounce meant of yesterday.
Add the flag in Japan, which we didnt have the opportunity to add into the presentation. We have a strong position in India, we have a lot of drawing customers in India.
Working.
Sure.
In a lot of projects in the in Europe, together with our UK distributor and now we are doing a lot of efforts to access the U S market, we intend to be.
Submissions and we are using.
Local partners and agents, which will help us to have similar activities like we have here in Israel with the defense industries, who have something similar in the U S.
Now near our CFO will continue with the presentation.
Sure.
Okay.
CFO: I have around my name is <unk> and I'm the CFO of the company as Fran said our share with you some highlights.
CFO: Our financial forecast Danielle camera places.
CFO: Okay.
CFO: Okay.
Speaker Change: Hi, Matt.
Speaker Change: <unk>.
Speaker Change: Each market to her.
Speaker Change: We can see them.
Okay.
Speaker Change:
Speaker Change: As far as certainly follow and showered with some highlights from our financial.
Speaker Change: Focusing of Eh.
Speaker Change: Focusing on African disclosed as a public company.
Speaker Change: Our revenues and has an urban has increased since.
Speaker Change: <unk> 'twenty 'twenty four 1 billion dollar to <unk>, two 4 million rollout in the 'twenty to 'twenty three.
Speaker Change: As I can say at this stage, we are project component of our revenues are not linear so for this reason our revenues for the second half of 'twenty, one to spring when it was approximately $3 $6 billion.
Speaker Change: Our projections for the current year for 2024.
Speaker Change: As our revenues are revenues of.
Speaker Change: Approximately $7 million, it's based on our backlog as we announced during January of this year.
Speaker Change: Our backlog continues to increase from backlog of 600000 dollar to a backlog of approximately 10 points 80 million dollar.
Speaker Change: As of.
Speaker Change: Mass 'twenty 'twenty for any fall.
Speaker Change: The backlog defined we defined backlog as accumulation of all pending orders with the letter fulfillment fulfillment date for which revenues have not been recognized and we considered valid.
Speaker Change: Our backlog consists of X that gives us a purchase order from new customer and existing customers, which we have had long standing relationship and from governmental and justice.
Speaker Change: Some highlights from our financials.
Our revenue our revenue totaled two four.
Speaker Change: 4 million dollar as of their ended December 31, 23 compared to 2.2.
Speaker Change: $2 5 million dollar in the previous year.
Speaker Change: Our net loss for the Air ended December 31, 20 for <unk> was approximately $2 7 million compared to $3 7 million dollar in 2022.
Speaker Change: As I said before our total revenue for the six months ended December 31, 'twenty timeframe was approximately three 6 million and the law and the net loss for the sample Rod was approximately.
Speaker Change: $500000.
Speaker Change: The balance of the trade receivable on our balance sheet.
Speaker Change: As of December 31, spares mainframe was approximately $3 million and our cash cash equivalent and bags deposit as of December 31, 'twenty transparent were approximately $5 2 million.
Speaker Change: As of March 'twenty, one 'twenty to 'twenty four of our cash cash equivalents prevalent in bank deposits.
Speaker Change: Approximately.
Speaker Change: $4 $75 million.
Speaker Change: Thank you very much.
Speaker Change: So lots of clients.
Speaker Change: We are.
Speaker Change: Yeah.
Speaker Change: Okay.
Okay. This was the end of our presentation and now we are open to answer your questions and as I said.
We will also whatever we are possible to answer based on the information.
Speaker Change: Bailable in the Edgar system, and <unk> and then you may take.
Speaker Change: Next the meaningful tool to add more questions if necessary.
Speaker Change: Okay.
Speaker Change: If I had to start clinical Thunder Hawk casino saw enclosed.
Speaker Change: Okay, we will start the answering the questions.
Speaker Change: We have a question from Brian <unk>.
Brian: And I will read the question could you talk a little more about the importance of real time, a J a video analysis for your customers and the challenges of doing that analysis with other technologies of video processing, which means on the cloud.
Brian: This is an excellent question because the main reason for age computing and implementing AI at the age.
Brian: Is it due to the fact that the remote platforms F E M.
Brian: Communicating rehab onto our wireless communications and a you don't have always the possibility to provide the high quality raw video via this communication in order to to be manipulated.
Manipulated or a process at the cloud and therefore, you must have the capabilities on the remote platform to do the AI functionality and and that's the only way to enable the platform.
Brian: To take decisions automatic autonomously for example, if would like from a drone to detect objects to classify them to attack them and to do some other functionalities. So that's the reason you need everything at BH.
Speaker Change: Other question.
Speaker Change: Which are made by Brian as well.
Speaker Change: Saying that and edge AI devices will be complement to other AI video processing solutions or an alternative to those systems.
Speaker Change: I believe that the answer is quite similar in our unique whatever is the technology either mice either other platforms.
Speaker Change: You need a platform at the age to provide there.
The the computing capabilities.
Speaker Change: And then there is no there is no any other alternative except of having the right sense of having the variety of central day and night.
Speaker Change: And the possibilities to process them with.
Speaker Change: AI acceleration capabilities.
Speaker Change: Yeah.
Speaker Change: Significant part of Trimble.
Speaker Change: Finally, let me confirm.
Speaker Change: Okay. Another question from Jacob Greenbelt.
Jacob Greenbelt: How big of a role does a I.
Jacob Greenbelt: Sorry, I lost the question.
Jacob Greenbelt: Yeah.
Okay. So a question from Jacob Greenbottle, Ken will discuss the use of AI in your space markets.
Yes, I can definitely to stop and Thats, what we are doing now with our U S partner, we are developing based on our <unk> platform we are developing.
Jacob Greenbelt: AI capabilities in space for situational awareness.
Jacob Greenbelt: <unk>, Yeah is that the S surrounding cameras surrounding our nano satellite will be able to detect threats.
Jacob Greenbelt: In space and too.
Jacob Greenbelt: To avoid collisions or end users.
Jacob Greenbelt: For proximity.
Jacob Greenbelt: And then.
Jacob Greenbelt: Accurate lending whenever necessary.
Jacob Greenbelt: Okay.
Jacob Greenbelt: Okay.
Jacob Greenbelt: Turning off.
Jacob Greenbelt: And one of them.
Jacob Greenbelt: Sure.
Jacob Greenbelt: And we have a question are related.
Jacob Greenbelt: Related to the.
The same situation in Gaza and the question is if we are able to announce all the major deals given some <expletive> sensitive political situation about Gaza wall and all we can announce some deals and we are announcing deals with.
Solid going into much details and notable ways. It can be related to a specific board no matter what no matter what it is but if there is and there is significant announcements and then we will announce.
Jacob Greenbelt: There is another question area number our gross margin.
Jacob Greenbelt: I'm happy to see our gross margin above the planting plan for Brandon 50% now in the second half you have and gross margin guidance now.
Jacob Greenbelt:
Jacob Greenbelt: We are a project company with a set of different products. Therefore, the gross profit. This is Deborah mine. According to the mix of product that the company says each year and of course as element refresh our company.
Jacob Greenbelt: Since we have a fixed overhead than an increase in the amount of sales may have positive effect on the gross profit profitability.
Speaker Change: Thank you.
Jacob Greenbelt: Great.
Speaker Change: Uh huh.
Speaker Change: Okay. So we don't have any any further questions and and if there is no. Other question. Now then thank you very much and we hope to see you in a one off next webinars and thank you all.
Speaker Change: Okay.