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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