VISLINK TECHNOLOGIES, INC. Vislink Technologies, Inc.
February 2021
NASDAQ: VISL
www.vislink.com
1
Safe Harbor Statement
These materials have been prepared by Vislink Technologies, Inc. ("Vislink" or the "Company") solely for use at the presentation. The information presented or contained in these materials is subject to change without notice. These materials contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on our current expectations, assumptions, estimates and projections about us and our industry. The forward-looking statements are subject to various risks and uncertainties. The Company urges caution in considering its current trends and any outlook on earnings disclosed in this presentation. These forward-looking statements, which reflect the Company's best judgment based on factors currently known, are intended to speak only as of the date such statements are made and involve risks, uncertainties, and other factors that may cause the actual performance of the Company to be materially different from the performance indicated or implied by such statements. Words such as "expects", anticipates", "believes", "intends", "plans", "hopes", and variations of such words and similar expressions are intended to identify such forward-looking statements. Except as may be required by law, the Company expressly disclaims any obligation to update these forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events. Factors that could cause actual performance to differ materially from the performance indicated in forward-looking statements include, among others: progress, timing, cost, future events, future financial performance, strategies, expectations, competitive environment, regulation and availability of resources, or patent protection for our products and commercialization activities; and other factors from time to time set forth in the Company's SEC reports, including but not limited to the discussion in Management's Discussion and Analysis contained in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, and the risks identified in the Risk Factors contained in the Company's Registration Statement on Form S-3, which was filed with the Securities and Exchange Commission on May 5, 2020.
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Leading Innovator in Advanced Communication Solutions
Vislink specializes in the collection, delivery, management and distribution of mission critical, high quality, live video and data from the scene of the action to the viewing screen. Vislink's innovative solutions allow military and first responders to protect and serve while also providing content creators an industry leading platform technology to create and distribute immersive and compelling content.
NASDAQ Listed: VISL
Revenue FYE2019: | $28.9m |
Employees: | 91 |
Locations: | US, UK, UAE, and Singapore |
Patents: | 34 |
Customers: | > 30,000 |
Products: | 33 product categories |
Countries sold in: | 80+ |
Global Partners: | 150 |
Broadcastt
Military
Government
Entertainment
Sports
Industrial
3
Served Markets
MilGov/ | 1) | Trusted supplier to local, national and NATO military and law enforcement organizations | ||
2) | Provider of enhanced situational-awareness capabilities in challenging environments and fluid | |||
Industrial | situations | |||
3) | Key application areas: covert surveillance, tactical systems monitoring and strategic detection | |||
1) | Global provider of satcom solutions, thirty years experience | |||
Satellite | 2) | Several thousand terminals currently in use worldwide | ||
3) | Specialties: rapid-deploy terminals delivering efficient, robust and secure communications to | |||
ensure worldwide connectivity | ||||
Sports, News
&
Entertainment
- Fifty-yearhistory of video technology innovations putting audiences "at the heart of the action"
- Global leader in wireless capture, delivery and management of secure, high-quality video from live sports, entertainment, broadcast news
- Key application areas: sports venue entertainment systems, outside broadcast and electronic news gathering
Over 30,000 Customers¹
BROADCASTERS
LIVE SPORTS &
ENTERTAINMENT
MILITARY/
GOVERNMENT
1) Source: Vislink - Salesforce CRM | 5 |
The Emerging Connected Edge Opportunity
500 Billion IoT Connected Devices by 2030(1)
All IP connectivity everywhere
COFDM
Real time analytics will
disrupt traditional workflows
Pattern identification and
optimization
- Lower latency, ultrafast speeds and higher capacity expected to drive higher demand for video and data
- Cloud scale compute across vertical specific devices leveraging private networks using 5G, WiFi6, Mesh, COFDM and Satellite.
- Proactively recognizing safety hazards and alerting responsible departments
- Collecting and assessing metadata, biometrics, video, audio recognition
- Instantaneous, efficient, actionable video.
- AI powered computer vision systems resulting in real time decisions and actions
- Efficient workflows and higher utilization of resources
Multi-Billion Dollar upside opportunity
1) Source: Cisco | 6 |
Use Case: Enabling the Connected First Responder
7
Use Case: Connected Area of Operations
8
Use Case: Connected Campus
9
Use Case: Connected Motor Speedway
10
Transition to the Connected Stadium
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Broad Portfolio of Products & Services
Terrestrial Microwave Systems
- Wireless Camera
- Onboard
- Point-to-Pointradios
- Electronic Newsgathering
- Body worn solutions
- Aerial Video Downlink
- Specialized antennas
Satellite Systems
- Compact / Rugged Antennas
- Electronics
Services
- System architecture and design
- Installation and integration
- Training and recurring maintenance
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Leading Video/Data Transmission Solutions
HCAM - Premium 4K Ultra HD
Transmits video with high quality and ultra-low delay over long distances
-Tier 1 Event coverage -Mining
-Building Construction
-Enterprise Communications
Microlite - Value HD
Midrange solution with professional features
-Division 2/3 Athletics -Fan Cam
-Drone - Fixed Wing, Single Rotor -Prosumers
DragonFly - Embedded HD Solution
Ultracompact, lightweight form factor for easy integration
-Body worn applications -Live-action sports -Tactical deployments -Drone - Multi-Rotor, Hybrid -Robotics
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Market leading Onboard Video/Data Solution
Current Customers
Key Technologies
- MDR (Multi-Channel Diversity Receive System
- Integrated 4K
- Ultra-lowdelay
- Proprietary filtering
- HEVC Encoding
- ISDB modulation
- Multiple RF frequency bands
- Bespoke, ruggedized components
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Broadcast Studio to Transmitter Links
IP Link 3.0
- Next-generationIP-basedbi-directional link enables broadcasters to provide numerous enhanced services
- Estimated $50 million+ market opportunity for equipment upgrades (transmitters, antennas, RF components), over $4 million in pipeline so far in 2020
- Roll out of ATSC 3.0
- Installation and Maintenance Services
Key Benefits
- Enhance Audience Experience
- 4K UHD/HDR
- Immersive audio
- Interactive services
- Multiplatform delivery and Mobile Video
- Public Safety - Public alerts and mission-critical video to local first responders during emergencies.
- New Monetization Methods and Revenue Streams
- Targeted Viewer Advertising
- Subscription Services
- Video On Demand
- 3rd Party Distribution Networks
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Mission Critical Aerial Downlinks
Airborne Video Downlink System
(AVDS)
- Downlink transmitters, receivers and antennas that capture real-time, reliable high-definition video from drones, helicopters and other aircraft
- Displayed at command centers, mobile units and on video management systems.
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Satellite Products
DVE6100 Video Exciter
4K UHD Multi Format Video Exciter
-Smallest, Lightest, Lowest Power consumption in its class
-Suited for integration in to any flyaway or driveaway application -Supports High Dynamic Range
-Supports 4K UHD, HD and SD video formats to 10-bit profile
-Class leading contribution exciter for Broadcast / Live Production -New product release - now shipping!
MSAT Man-portable satellite antenna system
Portable tri-band system for rapid deployment in hostile environments -Supports high-capacitysatellite services
-65cm, 90cm, 120cm versions -Secure military comms -Emergency services
NewSwift HD satellite antenna 1.5m/1.8m, 2.4m
Roof-mountable driveaway system -frequencybands swappable in-field
-full3-axis system for high pointing accuracy -newsgathering/events/sports
-secure satellite communications
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Core Highlights to Vislink Investment Thesis
Financial &
Operational
Turnaround
Broad and
Diverse Global
Customer Base
Experienced
Team
Differentiated
High Growth
Strategy
Substantial Progress
- Reduced headcount by 40% and real estate footprint by 60%.
- Eliminated third party debt. Simplified business and optimized supply chain.
- Recognized industry leader serving over 30k customers.
- Strong relationships and channels in over 80 countries representing $13B
Annual Market Opportunity.
3) Clients include: US Army, Airbus, Moto GP, Northrup Grumman, Met Police
- Extensive track record of creating high technology businesses through organic growth and acquisitions coupled with extensive turnaround experience.
- Strong team of subject matter, technology and market experts.
- New product development process in place. Major innovative product platform releases expected in 2021.
- Riding secular trend of the emerging connected edge to bring transformative solutions to focused vertical markets. Multi-Billion Dollar upside opportunity.
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Leadership
Joined Vislink as CEO in January 2020. Prior experience building three global | ||
Mickey Miller | technology companies resulting in strategic exits. BLiNQ Networks, 5G | |
innovator, sold to CCI. Andrew Corporation (Nasdaq:ANDW) sold to | ||
CEO | ||
Commscope (Nasdaq:COMM) for $2.6B. Lucent Power (NYSE:ALU) sold to Tyco | ||
Electronics (NYSE:TEL) for $2.5B. | ||
Mike Bond | Joined Vislink in April 2020. Prior experience includes head of M&A for Lucent | |
and Avaya. Led over 50 acquisitions valued over $30B. CFO roles at various | ||
CFO | ||
technology companies, most recently Pulse Electronics. Former Managing | ||
Director at J.P. Morgan Investment Banking. | ||
Joined Vislink in March 2020. Twenty-year career leading organizations in the | ||
Jim McGowan | Public Safety and Military markets. Prior to Vislink, Mr. McGowan was | |
President and CEO of Helinet. Senior leader of Flir Systems Inc during revenue | ||
Go-To-Market | ||
growth from $300M to over $1.6B. | ||
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Revamped Board - Technology Savvy
Susan Swenson | Ms. Susan G. Swenson is Non-Executive Independent Chair of the Board at Vislink Technologies | ||
Inc. Ms. Swenson is the former chair of FirstNet and was President & COO of T-Mobile US. | |||
Chairperson | Inc. Ms. Swenson also serves on the boards of Harmonic and Sonim Technologies. Ms. | ||
Swenson joined the Vislink board in October 2018. | |||
James Conway | General James T. Conway is a retired United States Marine Corps four-star general who served | ||
as the 34th Commandant of the Marines. General Conway also serves as a Director of Textron. | |||
Independent | General Conway joined the Vislink board in January 2015. | ||
Ralph Faison | Mr. Ralph E. Faison is a former CEO of several technology companies including Pulse | ||
Electronics, Andrew Corporation and Celiant Corp. Mr. Faison currently serves as Chairman of | |||
Independent | the Board of Arlo Technologies and Independent Director of Wilson Electronics and GigaIO. Mr. | ||
Faison joined the Vislink board in January 2020. | |||
Jude Panetta | Mr. Jude T. Panetta is the former CEO and President of ASC Signal and the former Group | ||
President of Andrew Satellite Group and VP of Comtech Government Systems. Mr. Panetta | |||
Independent | |||
joined the Vislink board in May 2019. | |||
Brian Krolicki | Mr. Brian K. Krolicki is the former Lieutenant Governor - State of Nevada. Serves as a Board | ||
Member of Faraday Future and Nevada Nanotech Systems Inc. Mr. Krolicki is an Executive | |||
Independent | Committee Member of the World Union of Olympic Cities. Mr. Krolicki joined the Vislink board | ||
in February 2020. | |||
Mickey Miller | Joined Vislink as CEO and director in January 2020. Prior experience building three global | ||
technology businesses resulting in three strategic exits. | |||
Non - Independent | |||
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Income Statement
For the Three Months Ended | For the Nine Months Ended | ||
Balance Sheet | September 30, | ||
September 30, |
2020 | 2019 | 2020 | 2019 | |||||
Revenue | thousands except | data) | 16,138 | $ | 20,565 | |||
$ | 4,778 | $ | 5,007 | $ | ||||
Cost of revenue and operating expenses |
Cost of components and personnel | 3,257 | 2,968 | 8,505 | 10,611 | |||||||||
Inventory valuation adjustments | 195 | 223 | 244 | 312 | |||||||||
General and administrative expenses | 3,200 | 5,329 | 12,721 | 16,062 | |||||||||
Research and development expenses | 616 | 799 | 1,831 | 2,591 | |||||||||
Gain on lease termination | - | - | (21 ) | - | |||||||||
Amortization and depreciation | 337 | 586 | 1,094 | 1,763 | |||||||||
T otal cost of revenue and operating expenses | 7,605 | 9,905 | 24,374 | 31,339 | |||||||||
Loss from operations | (2,827 | ) | (4,898 ) | (8,236 ) | (10,774 | ||||||||
O ther income (expense) | |||||||||||||
Changes in fair value of derivative liabilities | 82 | 281 | 1 | 954 | |||||||||
Gain (loss) on conversion of debentures | - | 15 | - | (33 | |||||||||
Gain on settlement of related party obligations | - | - | 331 | - | |||||||||
Other income (expense) | 5 | - | 5 | - | |||||||||
Interest expense, net | (53 | ) | (393 ) | (102 ) | (1,807 | ||||||||
T otal other income (expense) | 34 | (97 ) | 235 | (886 | |||||||||
Net loss | $ | (2,793 | ) | $ | (4,995 ) | $ | (8,001 ) | $ | (11,660 | ||||
Basic and diluted loss per share | $ | (0.17 | ) | $ | (2.41 ) | $ | (0.61 ) | $ | (12.77 | ||||
Weighted average number of shares outstanding: | |||||||||||||
Basic and diluted | 16,296 | 2,070 | 13,084 | 913 | |||||||||
Comprehensive loss: | |||||||||||||
Net loss | $ | (2,793) | $ | (4,995) | $ | (8,001) | $ | (11,660 | |||||
Unrealized gain (loss) on currency translation adjustment | (192 | ) | 81 | 57 | 82 | ||||||||
Comprehensive loss | $ | (2,985 | ) $ | (4,914 ) | $ | (7,944 ) | $ | (11,578 | |||||
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Balance Sheet
Balance Sheet
September 30, | December 31, | |
2020 | 2019 | |
(unaudited) |
ASSETS | |||||
Current assets | |||||
Cash | $ | 3,123 | $ | 1,737 | |
Accounts receivable, net | 4,063 | 6,714 | |||
Inventories, net | 9,532 | 7,674 | |||
P repaid expenses and other current assets | 964 | 660 | |||
Total current assets | 17,682 | 16,785 | |||
Right of use assets, operating leases | 1,616 | 1,925 | |||
P roperty and equipment, net | 1,849 | 1,972 | |||
Intangible assets, net | 2,155 | 2,922 | |||
Total assets | $ | 23,302 | $ | 23,604 | |
LIAB ILITIES AND STOCKHOLDERS' EQ UITY | |||||
Current liabilities | |||||
Accounts payable | $ | 3,339 | $ | 6,784 | |
Accrued expenses | 1,873 | 1,912 | |||
Notes payable | 96 | 339 | |||
Current portion of P P P loan | 424 | - | |||
Operating lease obligations, current | 324 | 821 | |||
Due to related parties | - | 505 | |||
Customer deposits and deferred revenue | 1,593 | 2,821 | |||
Derivative liabilities | 29 | 30 | |||
Total current liabilities | 7,678 | 13,212 | |||
Long-term portion of P P P loan | 744 | - | |||
Operating lease obligations, net of current portion | 1,279 | 1,163 | |||
Total liabilities | 9,701 | 14,375 |
Commitments and contingencies (See Note 10)
Stockholders' equity
P referred stock - $0.00001 par value per share: 10,000,000 shares authorized as of September 30, 2020, and December 31, 2019; -0- shares issued and outstanding as of September 30, 2020, and December 31, 2019
Common stock - $0.00001 par value per share, 100,000,000 shares authorized, 17,160,808 and 3,594,548 shares issued and 17,158,149 and 3,591,889 outstanding as of September 30, 2020 and December 31, 2019, respectively
Additional paid-in capital
Accumulated other comprehensive income
Treasury stock, at cost - 2,659 shares at September 30, 2020, and December 31, 2019, respectively Accumulated deficit
Total stockholders' equity | |
Total liabilities and stockholders' equity | $ |
- | - | ||
- | - | ||
274,187 | 261,871 | ||
264 | 207 | ||
(277 ) | (277 | ||
(260,573 | ) | (252,572 | |
13,601 | 9,229 | ||
23,302 | $ | 23,604 |
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Thank you!
www.vislink.com
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Disclaimer
Vislink Technologies Inc. published this content on 02 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 February 2021 14:45:02 UTC.
