Steakholder Foods Ltd. Q2 FY2024 earnings call

• Began business model shift in H1 2024 focusing on B2B revenue streams of 3D printers/services and premix blends.
• Secured 4 commercialization agreements: with Wyler Farm, ITRI, Sherry Herring, and Premazon.
• With Wyler Farm, they'll manufacture alternative proteins using Steakholder Food beef premix blend, royalties on sales, production to start in coming months.
• Partnership with ITRI to develop/commercialize Taiwanese cuisine products using 3D printing tech and premixes.
• Collaboration with Sherry Herring to unveil vegan fish salads using SH-Fish premix blends.
• Agreement with Premazon to integrate SH-Fish premix into plant-based white fish kebabs.
• Received $220,000 from Singapore-Israel Industrial R&D Foundation grant in March 2024.

In the first half of 2024, Steakholder Foods has shifted its business model to focus on two key revenue streams: selling 3D printers and associated services, and selling meat and fish premix blends to foodservice businesses. R&D costs for the first half of 2024 were $1.6 million, a 54% year-over-year reduction from $3.6 million in the same period of 2023. Marketing expenses were $700,000, a 56% reduction from $1.6 million in the prior year. General and administrative expenses decreased 9% to $2 million from $2.2 million in the prior year. Net loss decreased by 54% to $4.4 million or $1.10 per ordinary share compared to $9.5 million or $5 per ordinary share in H1 2023. Cash used in operating activities decreased to $4.4 million from $7.5 million in the prior year period.

• Anticipate modest revenue generation to commence in late 2024 or early 2025.
• Project accelerated revenue growth in 2025.
• Aim to announce global commercial agreement by early 2025.

No specific risks discussed in detail during the call, but forward-looking statements are subject to risks and uncertainties as mentioned in the opening remarks.

Q: Are there any questions from the investment community?

A: Operator confirmed there are no phone or web questions on the webcast