Baylin Technologies (BYL) Investor presentation summary

Strategic positioning and market opportunity

• Operates in three high-growth RF segments with gross margins above 43%.

• Serves diverse markets: satellite communications, wireless infrastructure, and custom antennas.

• Customers include major tech, telecom, and defense organizations; expanding into Europe.

• Wireless CapEx in North America is rebounding, with projected growth from $33B in 2025 to $38.5B in 2028.

• Embedded antenna market expected to nearly triple from 2017 to 2027, supporting segment growth.

Acquisition and integration

• Acquired Kaelus AB, adding four complementary product lines and expanding European presence.

• No product overlap; strengthens relationships with tier-1 OEMs like Nokia and Ericsson.

• Combined business forecasted to deliver ~$130M pro-forma revenue and ~$14M adjusted EBITDA in 2026.

• Acquisition triples standalone EBITDA and improves leverage, with pro-forma debt/EBITDA at ~2.5x.

• Combined backlog at Q3 2025 stands at $51.2M, with global reach across five continents.

Financial performance and outlook

• 2026 pro-forma revenue projected at $130M, up from $83.6M in 2024.

• Adjusted EBITDA expected to rise to $14M in 2026, with margin improving to 10.8%.

• Gross margin forecasted to increase to 46% in 2026 from 42.6% in 2024.

• Transaction funds acquisition, repays bank debt, and reduces leverage.

• Trading at a significant discount to peers at 2.5x pro-forma adjusted EBITDA.