Interim report
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SMART WIRES REIMAGINE THE GRID SMART WIRES TECHNOLOGY LTD . Q2 2021 INTERIM REPORT Key Business Events and Metrics Strong growth continues First trading day on the Nasdaq First North Growth Market on 18 May 2021 Qualified pipeline increased to $ 2.3 billion Revenue of $ 10.2 million , + 445 % ● ● ● . Gross loss of $ 0.5 million , + 85 % improvement ; negative margin of 5 % , + 162 % improvement EBITDA loss of $ 15.3 million ; negative margin of 150 % , + 567 % improvement Fully diluted loss per share of $ 0.16 , + 50 % improvement Orders between $ 15 million to $ 17 million received in August 2021 for projects with an existing customer Three patents approved and four new patent applications filed Completed delivery and commissioning of SmartValve ™ projects across seven customer sites in H1 2021 Added 17 new positions and strengthened Leadership team with 5 new appointments Announced 2022 HQ move to Research Triangle Park in North Carolina with State and County incentives ( August ) Key Figures ( Unaudited ) ( $ in millions , unless stated otherwise ) Q2-21 Q2-20 Change H1-21 Revenue $ 22.5 $ 10.2 10.7 $ 1.9 445 % 5.0 $ ( 0.5 ) $ ( 3.1 ) 85 % ( 166 % ) 162 % ( 5 % ) 15.3 10.7 $ ( 15.8 ) $ ( 13.9 ) $ ( 15.3 ) $ ( 13.5 ) ( 150 % ) ( 716 % ) 567 % $ ( 17.1 ) $ ( 14.3 ) $ ( 0.16 ) $ ( 0.31 ) 50 % Cost of revenue Gross profit Gross margin Operating Expenses Loss from operations EBITDA EBITDA margin Net profit Fully diluted earnings per share ( $ ) Ending cash Total current assets Total current liabilities H1-20 Change $ 3.7 515 % 22.5 12.1 $ ( 0.1 ) $ ( 8.4 ) ( 0 % ) ( 231 % ) 28.7 22.1 $ ( 30.6 ) $ ( 28.8 ) $ ( 27.9 ) $ ( 29.4 ) ( 124 % ) ( 806 % ) 682 % $ ( 31.1 ) $ ( 33.2 ) $ ( 0.31 ) $ ( 0.68 ) $ 109.2 $ 20.1 $ 109.2 $ 20.1 443 % $ 143.8 $ 48.1 $ 143.8 $ 48.1 $ 31.3 $ 32.1 $ 31.3 $ 32.1 Net working capital $ 112.6 $ 16.0 605 % $ 112.6 $ 16.0 605 % $ ( 9.4 ) $ ( 20.7 ) 64 % $ ( 30.8 ) $ ( 33.2 ) Cash flows from operations 7 % Note : unaudited financial statements presented herein are prepared in accordance with U.S. Generally Accepted Accounting Principles . 443 % 99 % 231 % 55 %