Baylin Technologies (BYL) Investor presentation summary

Strategic positioning and market opportunity

• Operates as a global designer and manufacturer of RF products, including antennas and satellite communications, serving carriers, OEMs, defense, and broadcasters worldwide.

• Acquisition of Kaelus AB in May 2026 added four complementary product lines, tier-1 OEM relationships, and expanded European presence.

• Positioned to benefit from recovering wireless CapEx, sustained defense and satellite demand, and rapid growth in the embedded-antenna market.

• Three core RF franchises maintain gross margins of 44-47% and serve diverse sectors such as telecom, defense, and IoT.

Financial performance and balance sheet

• Achieved record order backlog of $61.0M at Q2 2026, nearly tripling year-end 2025 levels, driven by Kaelus integration and Satcom demand.

• Q2 2026 revenue reached $22.0M with a gross margin of 47.1% and Adjusted EBITDA of $3.0M, marking the tenth consecutive positive quarter.

• Net debt reduced to C$11.1M as of June 30, 2026, with total assets at C$123.2M post-Kaelus consolidation.

• Recent actions include settling convertible debentures and preferred dividends in shares, preserving cash and strengthening the balance sheet.

Growth drivers and investment highlights

• Kaelus acquisition brings zero product overlap, expands OEM relationships, and provides geographic critical mass across North America, Europe, Australia, Asia, and LatAm.

• Positioned for cross-selling opportunities with Nokia and Ericsson, and further expansion in European and global markets.

• Exposed to secular growth trends in defense satellite, wireless infrastructure, and custom antenna solutions, with the global embedded-antenna market projected to reach US$7.5B by 2027.

• Trades at a discount to RF/comms peers, with potential for re-rating as earnings scale.