{"id":760633,"date":"2023-05-26T08:03:07","date_gmt":"2023-05-26T12:03:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/satixfy-announces-first-quarter-2023-results\/"},"modified":"2023-05-26T08:03:07","modified_gmt":"2023-05-26T12:03:07","slug":"satixfy-announces-first-quarter-2023-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/satixfy-announces-first-quarter-2023-results\/","title":{"rendered":"SatixFy Announces First Quarter 2023 Results"},"content":{"rendered":"

<\/p>\n

SatixFy Announces First Quarter 2023 Results<\/b><\/p>\n

REHOVOT, Israel–(BUSINESS WIRE<\/a>)–SatixFy Communications Ltd. (\u201cSatixFy\u201d)<\/b> (NYSE AMERICAN: SATX), a leader in next-generation satellite communication systems based on in-house developed chipsets, today announced its consolidated financial results for the first quarter of 2023.<\/p>\n

Ido Gur, CEO of SatixFy,<\/b> commented: \u201cSatixFy\u2019s first quarter results demonstrate that SatixFy is moving in the right direction. We have taken steps to reduce expenses while continuing our investment in R&D to maintain our edge and advance our satellite communication systems and chipsets. Our results demonstrate that we remain on track for revenue growth in 2023, with an associated improvement in the bottom line.\u201d<\/p>\n

First Quarter 2023 Results<\/span><\/b><\/p>\n

Total revenues <\/b>for the first quarter of 2023 were $2.4 million, an increase of 12% compared to $2.1 million in the first quarter of 2022. The vast majority of the revenues were from development services and pre-production.<\/p>\n

Gross profit<\/b> for the first quarter of 2023 was $1.0 million (at a gross margin of 41.0%), a 16% decline compared with $1.2 million (at a gross margin of 54.7%) in the first quarter of 2022. The decline in gross margin was attributed to the revenue mix, which favored a higher level of development services and preproduction that has a higher cost of services and sales.<\/p>\n

Operating expenses <\/b>declined to $7.0 million in the first quarter of 2023 from $7.6 million in the first quarter of 2022, reflecting a steady level of research and development (R&D) expenses, a $0.3 million increase in selling and marketing expenses, and a $1.0 million decrease in general and administrative (G&A) expenses, reflecting the impact in the first quarter of 2022 of a $2.0 million special management bonus, partially offset by public company costs following our business combination with Endurance Acquisition Corp. and listing on the NYSE in the first quarter of 2023.<\/p>\n

Operating loss <\/b>was $6.0 million in the first quarter of 2023, down from $6.4 million in the first quarter of 2022.<\/p>\n

Finance expenses,<\/b> net for the first quarter of 2023 were $26.3 million, reflecting expense of $43.7 million derived from the valuation of the Forward Purchase Agreement, based on a decrease in the market price of the Company\u2019s ordinary shares, partially offset by $19.6 million in finance income derived from the valuation of Price Adjustment Shares, based on the same reason.<\/p>\n

Net loss on an IFRS basis<\/b> for the first quarter of 2023 was $32.4 million, or $0.40 per basic and diluted share, compared with a net loss of $10.0 million, or $0.52 per basic and diluted share, in the first quarter of 2022.<\/p>\n

Adjusted net loss on a non-IFRS basis <\/b>for the first quarter of 2023 was $6.1 million, or $0.08 per basic and diluted share compared with a non-IFRS adjusted net loss of $6.5 million, or $0.34 per basic and diluted share, in the first quarter of 2022.<\/p>\n

Cash and cash equivalents<\/b> as of March 31, 2023 totaled $14.1 million, compared to $11.9 million as of December 31, 2022.<\/p>\n

About SatixFy<\/b><\/p>\n

\nSatixFy develops end-to-end next-generation satellite communications systems, including satellite payloads, user terminals and modems, based on powerful chipsets that it develops in house.<\/p>\n

\nSatixFy\u2019s products include modems that feature Software Defined Radio (SDR) and Fully Electronically Steered Multi Beam Antennas (ESMA) that support the advanced communications standard DVB-S2X. SatixFy\u2019s innovative ASICs improve the overall performance of satellite communications systems, reduce the weight and power requirements of terminals and payloads, and save real estate for gateway equipment. SatixFy\u2019s advanced VSATs and multi-beam fully electronically steered antenna arrays are optimized for a variety of mobile applications and services, using LEO, MEO and GEO satellite communications systems, for aero\/in-flight connectivity systems, communications-on-the-move applications, satellite-enabled Internet-of-Things, and consumer user terminals.<\/p>\n

\nSatixFy is headquartered in Rehovot, Israel with additional offices in the U.S., U.K. and Bulgaria. For more information, please visit www.SatixFy.com<\/a>.<\/p>\n

Non-IFRS Financial Measures<\/span>:<\/b><\/p>\n

\nNon-IFRS adjusted net loss is defined as IFRS net loss after excluding depreciation and amortization and finance expenses, net (including the impact or revaluation of derivatives).<\/p>\n

\nThis non-IFRS measure is not a measure of the Company\u2019s financial performance under IFRS and is presented for supplemental information purposes only and should be considered in addition to, and not as a substitute for, the comparable IFRS measures. The Company urges investors to treat this measure with caution and review the reconciliation of its non-IFRS financial measure to the most closely comparable IFRS measure included below together with the Company\u2019s financial information presented in accordance with IFRS. The Company is providing non-IFRS adjusted net income because it believes it presents a better measure of the Company’s core business activities, excluding certain non-cash and non-recurring items, and management uses this non-IFRS measure internally to evaluate the Company’s ongoing performance. Accordingly, the Company believes they are useful to investors in enhancing an understanding of the Company’s operating performance. However, the Company\u2019s calculation and presentation of non-IFRS adjusted net income may differ materially from similar measures presented by other companies, including in the Company\u2019s industry and in other industries.<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

This press release includes \u201cforward-looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning possible or assumed future results of operations and descriptions of our business plan and strategies and may be identified by the use of words such as \u201cestimate,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cforecast,\u201d \u201cintend,\u201d \u201cwill,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cseek,\u201d \u201ctarget\u201d or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of SatixFy\u2019s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. The forward-looking statements are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements. Important factors that could cause such differences include, but are not limited to, the matters described in our SEC filings and Annual Report on Form 20-F, in particular in the section \u201cRisk Factors.\u201d Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of SatixFy. Forward-looking statements set forth herein speak only as of the date of this press release. SatixFy has no obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that SatixFy will make additional updates with respect to that statement, related matters, or any other forward-looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward-looking statements, including discussions of significant risk factors, may appear in SatixFy\u2019s public filings with the SEC, which are or will be (as appropriate) accessible at www.sec.gov<\/a>, and which you are advised to consult.<\/i><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

SATIXFY COMMUNICATIONS LTD.<\/span><\/b><\/p>\n

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<\/span><\/b><\/p>\n

(in thousands of USD)<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n

March 31,<\/b><\/p>\n<\/td>\n

\n\n

March 31,<\/b><\/p>\n<\/td>\n

\n\n

December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

ASSETS:<\/b><\/p>\n<\/td>\n

\n\n\n\n\n<\/tr>\n
\n

CURRENT ASSETS:<\/b><\/p>\n<\/td>\n

\n\n\n\n\n<\/tr>\n
\n

\nCash and cash equivalents<\/p>\n<\/td>\n

\n\n

\n14,138<\/p>\n<\/td>\n

\n\n

\n28,658<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n11,934<\/p>\n<\/td>\n<\/tr>\n

\n

\nTrade accounts receivable<\/p>\n<\/td>\n

\n\n

\n704<\/p>\n<\/td>\n

\n\n

\n165<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,295<\/p>\n<\/td>\n<\/tr>\n

\n

\nContract assets<\/p>\n<\/td>\n

\n\n

\n4,185<\/p>\n<\/td>\n

\n\n

\n4,665<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,035<\/p>\n<\/td>\n<\/tr>\n

\n

\nPrepaid expenses and other<\/p>\n<\/td>\n

\n\n

\n4,738<\/p>\n<\/td>\n

\n\n

\n2,689<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,648<\/p>\n<\/td>\n<\/tr>\n

\n

\nGovernment departments and agencies receivables<\/p>\n<\/td>\n

\n\n

\n5,471<\/p>\n<\/td>\n

\n\n

\n3,431<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,156<\/p>\n<\/td>\n<\/tr>\n

\n

\nRelated parties<\/p>\n<\/td>\n

\n\n

\n82<\/p>\n<\/td>\n

\n\n

\n85<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n157<\/p>\n<\/td>\n<\/tr>\n

\n

\nDerivatives FPA<\/p>\n<\/td>\n

\n\n

\n531<\/p>\n<\/td>\n

\n\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n12,775<\/p>\n<\/td>\n<\/tr>\n

\n

\nInventory<\/p>\n<\/td>\n

\n\n

\n1,156<\/p>\n<\/td>\n

\n\n

\n631<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n831<\/p>\n<\/td>\n<\/tr>\n

\n

Total current assets<\/b><\/p>\n<\/td>\n

\n\n

\n31,005<\/p>\n<\/td>\n

\n\n

\n40,324<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n41,831<\/p>\n<\/td>\n<\/tr>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

NON-CURRENT ASSETS:<\/b><\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nRight-of-use assets, net<\/p>\n<\/td>\n

\n\n

\n2,736<\/p>\n<\/td>\n

\n\n

\n2,868<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,794<\/p>\n<\/td>\n<\/tr>\n

\n

\nProperty, plant and equipment, net<\/p>\n<\/td>\n

\n\n

\n1,590<\/p>\n<\/td>\n

\n\n

\n930<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,643<\/p>\n<\/td>\n<\/tr>\n

\n

\nInvestment in Jet Talk<\/p>\n<\/td>\n

\n\n

\n1,665<\/p>\n<\/td>\n

\n\n

\n2,029<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,777<\/p>\n<\/td>\n<\/tr>\n

\n

\nLong term deposits<\/p>\n<\/td>\n

\n\n

\n218<\/p>\n<\/td>\n

\n\n

\n273<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n203<\/p>\n<\/td>\n<\/tr>\n

\n

\nDerivatives FPA<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n28,077<\/p>\n<\/td>\n<\/tr>\n

\n

Total non-current assets<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,209<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,100<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n34,494<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

TOTAL ASSETS<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n37,214<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n46,424<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n76,325<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

SATIXFY COMMUNICATIONS LTD.<\/span><\/b><\/p>\n

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<\/span><\/b><\/p>\n

(in thousands of USD)<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n

March 31,<\/b><\/p>\n<\/td>\n

\n\n

March 31,<\/b><\/p>\n<\/td>\n

\n\n

December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n\n\n\n<\/tr>\n
\n

LIABILITIES AND SHAREHOLDERS\u2019 DEFICIT:<\/b><\/p>\n<\/td>\n

\n\n\n\n\n<\/tr>\n
\n

CURRENT LIABILITIES:<\/b><\/p>\n<\/td>\n

\n\n\n\n\n<\/tr>\n
\n

\nTrade payables<\/p>\n<\/td>\n

\n\n

\n2,365<\/p>\n<\/td>\n

\n\n

\n5,377<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,459<\/p>\n<\/td>\n<\/tr>\n

\n

\nContract liabilities<\/p>\n<\/td>\n

\n\n

\n408<\/p>\n<\/td>\n

\n\n

\n358<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n622<\/p>\n<\/td>\n<\/tr>\n

\n

\nESA advance payments<\/p>\n<\/td>\n

\n\n

\n4,920<\/p>\n<\/td>\n

\n\n

\n11,385<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,800<\/p>\n<\/td>\n<\/tr>\n

\n

\nPrepayment from customer<\/p>\n<\/td>\n

\n\n

\n12,686<\/p>\n<\/td>\n

\n\n

\n11,156<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n12,176<\/p>\n<\/td>\n<\/tr>\n

\n

\nLease liabilities<\/p>\n<\/td>\n

\n\n

\n1,021<\/p>\n<\/td>\n

\n\n

\n985<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,021<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther accounts payable and accrued expenses<\/p>\n<\/td>\n

\n\n

\n5,136<\/p>\n<\/td>\n

\n\n

\n5,359<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n7,843<\/p>\n<\/td>\n<\/tr>\n

\n

\nRelated parties<\/p>\n<\/td>\n

\n\n

\n381<\/p>\n<\/td>\n

\n\n

\n517<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n408<\/p>\n<\/td>\n<\/tr>\n

\n

Total current liabilities<\/b><\/p>\n<\/td>\n

\n\n

\n26,917<\/p>\n<\/td>\n

\n\n

\n35,137<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n29,329<\/p>\n<\/td>\n<\/tr>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

NON-CURRENT LIABILITIES:<\/b><\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nLong term loans from financial institutions<\/p>\n<\/td>\n

\n\n

\n56,621<\/p>\n<\/td>\n

\n\n

\n50,200<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n54,926<\/p>\n<\/td>\n<\/tr>\n

\n

\nLease liabilities<\/p>\n<\/td>\n

\n\n

\n2,181<\/p>\n<\/td>\n

\n\n

\n2,618<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,280<\/p>\n<\/td>\n<\/tr>\n

\n

\nDerivatives instruments liabilities<\/p>\n<\/td>\n

\n\n

\n728<\/p>\n<\/td>\n

\n\n

\n1,392<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n20,305<\/p>\n<\/td>\n<\/tr>\n

\n

\nLiability for royalties payable<\/p>\n<\/td>\n

\n\n

\n1,153<\/p>\n<\/td>\n

\n\n

\n1,423<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,107<\/p>\n<\/td>\n<\/tr>\n

\n

\nDerivatives FPA<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13,423<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n<\/tr>\n

\n

Total non-current liabilities<\/b><\/p>\n<\/td>\n

\n\n

\n74,106<\/p>\n<\/td>\n

\n\n

\n55,633<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n78,618<\/p>\n<\/td>\n<\/tr>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

SHAREHOLDERS\u2019 DEFICIT:<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nShare Capital<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n<\/tr>\n

\n

\nShare Premium<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n446,761<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n48,403<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n446,488<\/p>\n<\/td>\n<\/tr>\n

\n

\nCapital reserves<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,445<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,056<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,498<\/p>\n<\/td>\n<\/tr>\n

\n

\nAccumulated deficit<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(514,015)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(93,805)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(481,608)<\/p>\n<\/td>\n<\/tr>\n

\n

Total shareholders\u2019 deficit<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(63,809)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(44,346)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(31,622)<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

TOTAL LIABILITIES AND SHAREHOLDERS\u2019 DEFICIT<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n37,214<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n46,424<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n76,325<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

SATIXFY COMMUNICATIONS LTD.<\/span><\/b><\/p>\n

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS<\/span><\/b><\/p>\n

(in thousands of USD)<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n

Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Revenues:<\/b><\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nDevelopment services and preproduction<\/p>\n<\/td>\n

\n\n

\n2,387<\/p>\n<\/td>\n

\n\n

\n1,840<\/p>\n<\/td>\n<\/tr>\n

\n

\nSale of products<\/p>\n<\/td>\n

\n\n

\n–<\/p>\n<\/td>\n

\n\n

\n297<\/p>\n<\/td>\n<\/tr>\n

\n

Total revenues<\/b><\/p>\n<\/td>\n

\n\n

\n2,387<\/p>\n<\/td>\n

\n\n

\n2,137<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Cost of sales and services:<\/b><\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDevelopment services and preproduction<\/p>\n<\/td>\n

\n\n

\n1,408<\/p>\n<\/td>\n

\n\n

\n832<\/p>\n<\/td>\n<\/tr>\n

\n

\nSale of products<\/p>\n<\/td>\n

\n\n

\n–<\/p>\n<\/td>\n

\n\n

\n137<\/p>\n<\/td>\n<\/tr>\n

\n

Total cost of sales and services<\/b><\/p>\n<\/td>\n

\n\n

\n1,408<\/p>\n<\/td>\n

\n\n

\n969<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Gross profit<\/b><\/p>\n<\/td>\n

\n\n

\n979<\/p>\n<\/td>\n

\n\n

\n1,168<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nResearch and development expenses, net<\/p>\n<\/td>\n

\n\n

\n4,184<\/p>\n<\/td>\n

\n\n

\n4,159<\/p>\n<\/td>\n<\/tr>\n

\n

\nSelling and marketing expenses<\/p>\n<\/td>\n

\n\n

\n780<\/p>\n<\/td>\n

\n\n

\n483<\/p>\n<\/td>\n<\/tr>\n

\n

\nGeneral and administrative expenses<\/p>\n<\/td>\n

\n\n

\n2,018<\/p>\n<\/td>\n

\n\n

\n2,956<\/p>\n<\/td>\n<\/tr>\n

\n

Loss from operations<\/b><\/p>\n<\/td>\n

\n\n

\n6,003<\/p>\n<\/td>\n

\n\n

\n6,430<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nFinance income<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n54<\/p>\n<\/td>\n<\/tr>\n

\n

\nFinance expenses<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(2,154)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(3,498)<\/p>\n<\/td>\n<\/tr>\n

\n

\nDerivatives revaluation<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(24,141)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n<\/tr>\n

\n

\nCompany’s share in the loss of a company accounted by equity method, net<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(111)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(108)<\/p>\n<\/td>\n<\/tr>\n

\n

Loss before income taxes<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(32,407)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(9,982)<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncome taxes<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n<\/tr>\n

\n

Loss for the period<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(32,407)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(9,982)<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Other comprehensive income (loss) net of tax:<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nItems that will or may be reclassified to profit or loss:<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nExchange gain (loss) arising on translation of foreign operations<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(53)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n827<\/p>\n<\/td>\n<\/tr>\n

\n

Total comprehensive loss for the period<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(32,460)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(9,155)<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Basic and diluted loss per share (in dollars)<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(0.40)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(0.52)<\/p>\n<\/td>\n<\/tr>\n

\n

Basic and diluted weighted average ordinary shares outstanding<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n80,684<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n19,260<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

SATIXFY COMMUNICATIONS LTD.<\/span><\/b><\/p>\n

UNAUDITED INTERIM CONDENSED statements of cash flows<\/span><\/span><\/b><\/p>\n

(in thousands of USD)<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n

Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Cash flows from operating activities:<\/b><\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n<\/tr>\n
\n

\nLoss for the year<\/p>\n<\/td>\n

\n\n

\n(32,407)<\/p>\n<\/td>\n

\n\n

\n(9,982)<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjustments to reconcile net profit to net cash provided by operating activities:<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n<\/tr>\n
\n

\nDepreciation and amortization<\/p>\n<\/td>\n

\n\n

\n293<\/p>\n<\/td>\n

\n\n

\n346<\/p>\n<\/td>\n<\/tr>\n

\n

\nCompany’s share in the loss of a company accounted by equity method, net<\/p>\n<\/td>\n

\n\n

\n113<\/p>\n<\/td>\n

\n\n

\n108<\/p>\n<\/td>\n<\/tr>\n

\n

\nFinance expenses on loans<\/p>\n<\/td>\n

\n\n

\n1,027<\/p>\n<\/td>\n

\n\n

\n1,222<\/p>\n<\/td>\n<\/tr>\n

\n

\nChange in the fair value of derivatives<\/p>\n<\/td>\n

\n\n

\n24,141<\/p>\n<\/td>\n

\n\n

\n–<\/p>\n<\/td>\n<\/tr>\n

\n

\nShare based payments<\/p>\n<\/td>\n

\n\n

\n246<\/p>\n<\/td>\n

\n\n

\n158<\/p>\n<\/td>\n<\/tr>\n

\n

\nDecrease (Increase) in trade accounts receivable<\/p>\n<\/td>\n

\n\n

\n613<\/p>\n<\/td>\n

\n\n

\n649<\/p>\n<\/td>\n<\/tr>\n

\n

\nDecrease (Increase) in contract assets<\/p>\n<\/td>\n

\n\n

\n958<\/p>\n<\/td>\n

\n\n

\n1,242<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncrease in inventory<\/p>\n<\/td>\n

\n\n

\n(325)<\/p>\n<\/td>\n

\n\n

\n54<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncrease (Decrease) in other current assets<\/p>\n<\/td>\n

\n\n

\n(181)<\/p>\n<\/td>\n

\n\n

\n(2,852)<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncrease in trade payables<\/p>\n<\/td>\n

\n\n

\n871<\/p>\n<\/td>\n

\n\n

\n(3,162)<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncrease in ESA prepayments<\/p>\n<\/td>\n

\n\n

\n(1,014)<\/p>\n<\/td>\n

\n\n

\n(3,205)<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncrease in other accounts payable and accrued expenses<\/p>\n<\/td>\n

\n\n

\n(2,992)<\/p>\n<\/td>\n

\n\n

\n(2,907)<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncrease in prepayments from customers<\/p>\n<\/td>\n

\n\n

\n241<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n9,652<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncrease (decrease) in liability for royalties payable<\/p>\n<\/td>\n

\n\n

\n47<\/p>\n<\/td>\n

\n\n

\n103<\/p>\n<\/td>\n<\/tr>\n

\n

Net cash used in operating activities<\/b><\/p>\n<\/td>\n

\n\n

\n(8,369)<\/p>\n<\/td>\n

\n\n

\n(8,574)<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Cash flows from investing activities<\/b><\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDecrease (Increase) in long-term bank deposit<\/p>\n<\/td>\n

\n\n

\n(19)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(2)<\/p>\n<\/td>\n<\/tr>\n

\n

Net cash used in investing activities<\/b><\/p>\n<\/td>\n

\n\n

\n(19)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(2)<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Cash flows from financing activities<\/b><\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nReceipt of long-term loans from a financial institution<\/p>\n<\/td>\n

\n\n

\n1,424<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n52,837<\/p>\n<\/td>\n<\/tr>\n

\n

\nRepayment of loan to shareholder<\/p>\n<\/td>\n

\n\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(5,000)<\/p>\n<\/td>\n<\/tr>\n

\n

\nRepayment of loans from banks<\/p>\n<\/td>\n

\n\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(13,818)<\/p>\n<\/td>\n<\/tr>\n

\n

\nRepayment of royalty liability<\/p>\n<\/td>\n

\n\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(48)<\/p>\n<\/td>\n<\/tr>\n

\n

\nPayments of lease liabilities<\/p>\n<\/td>\n

\n\n

\n(1,029)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(402)<\/p>\n<\/td>\n<\/tr>\n

\n

\nIssuance of shares (FPA)<\/p>\n<\/td>\n

\n\n

\n10,026<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n–<\/p>\n<\/td>\n<\/tr>\n

\n

\nOption exercises to shares by employees<\/p>\n<\/td>\n

\n\n

\n26<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n20<\/p>\n<\/td>\n<\/tr>\n

\n

Net cash provided by financing activities<\/b><\/p>\n<\/td>\n

\n\n

\n10,447<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n33,589<\/p>\n<\/td>\n<\/tr>\n

\n

Increase (decrease) in cash and cash equivalents<\/b><\/p>\n<\/td>\n

\n\n

\n2,059<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n25,013<\/p>\n<\/td>\n<\/tr>\n

\n

Cash and cash equivalents balance at the beginning of the year<\/b><\/p>\n<\/td>\n

\n\n

\n11,934<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,854<\/p>\n<\/td>\n<\/tr>\n

\n

Effect of changes in foreign exchange rates on cash and cash equivalents<\/b><\/p>\n<\/td>\n

\n\n

\n145<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(209)<\/p>\n<\/td>\n<\/tr>\n

\n

Cash and cash equivalents balance at the end of the year<\/b><\/p>\n<\/td>\n

\n\n

\n14,138<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n28,658<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Appendix A – Cash paid and received during the year for:<\/b><\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nInterest paid<\/p>\n<\/td>\n

\n\n

\n44<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n35<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Appendix B – Non Cash transactions during the year for:<\/b><\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nIssuance of shares against loan<\/p>\n<\/td>\n

\n\n

\n–<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,978<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

SATIXFY COMMUNICATIONS LTD.<\/span><\/b><\/p>\n

RECONCILIATION OF NON-IFRS ADJUSTED NET LOSS TO IFRS NET LOSS<\/span><\/b><\/p>\n

(in thousands of USD)<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n

Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

IFRS Net Loss<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

(32,407)<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

(9,982)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nDepreciation and amortization<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n58<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n44<\/p>\n<\/td>\n<\/tr>\n

\n

\nFinance Expenses, net<\/p>\n<\/td>\n

\n\n

\n26,293<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,444<\/p>\n<\/td>\n<\/tr>\n

\n

Non-IFRS Adjusted Net Loss(1)<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

(6,056)<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

(6,494)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

IFRS Basic and diluted loss per share<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(0.40)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(0.52)<\/p>\n<\/td>\n<\/tr>\n

\n

Non-IFRS Adjusted Basic and diluted loss per share<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(0.08)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(0.34)<\/p>\n<\/td>\n<\/tr>\n

\n

Basic and diluted weighted average ordinary shares outstanding<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n80,684<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n19,260<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n(1) The Company did not record income tax benefit or expense in the periods and the adjustments above had no income tax effect.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nSAT-FIN<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230526005011\/en\/<\/a><\/span><\/p>\n

\nMedia Contacts:
\n
Helena Itzhak, SatixFy, info@satixfy.com<\/a><\/p>\n

\nInvestor Contacts:
\n
Ehud Helft, EK Global IR, satixfy@ekglobal.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Israel Middle East<\/p>\n

INDUSTRY KEYWORDS:<\/b> Semiconductor Hardware Satellite Technology Telecommunications<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

SatixFy Announces First Quarter 2023 Results REHOVOT, Israel–(BUSINESS WIRE)–SatixFy Communications Ltd. (\u201cSatixFy\u201d) (NYSE AMERICAN: SATX), a leader in next-generation satellite communication systems based on in-house developed chipsets, today announced its consolidated financial results for the first quarter of 2023. Ido Gur, CEO of SatixFy, commented: \u201cSatixFy\u2019s first quarter results demonstrate that SatixFy is moving in the right direction. We have taken steps to reduce expenses while continuing our investment in R&D to maintain our edge and advance our satellite communication systems and chipsets. Our results demonstrate that we remain on track for revenue growth in 2023, with an associated improvement in the bottom line.\u201d First Quarter 2023 Results Total revenues for the first quarter of 2023 were $2.4 million, an … <\/p>\n

Continue reading “SatixFy Announces First Quarter 2023 Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-760633","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSatixFy Announces First Quarter 2023 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/satixfy-announces-first-quarter-2023-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SatixFy Announces First Quarter 2023 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SatixFy Announces First Quarter 2023 Results REHOVOT, Israel–(BUSINESS WIRE)–SatixFy Communications Ltd. (\u201cSatixFy\u201d) (NYSE AMERICAN: SATX), a leader in next-generation satellite communication systems based on in-house developed chipsets, today announced its consolidated financial results for the first quarter of 2023. Ido Gur, CEO of SatixFy, commented: \u201cSatixFy\u2019s first quarter results demonstrate that SatixFy is moving in the right direction. We have taken steps to reduce expenses while continuing our investment in R&D to maintain our edge and advance our satellite communication systems and chipsets. Our results demonstrate that we remain on track for revenue growth in 2023, with an associated improvement in the bottom line.\u201d First Quarter 2023 Results Total revenues for the first quarter of 2023 were $2.4 million, an … Continue reading "SatixFy Announces First Quarter 2023 Results"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/satixfy-announces-first-quarter-2023-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-26T12:03:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230526005011r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/satixfy-announces-first-quarter-2023-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/satixfy-announces-first-quarter-2023-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"SatixFy Announces First Quarter 2023 Results\",\"datePublished\":\"2023-05-26T12:03:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/satixfy-announces-first-quarter-2023-results\\\/\"},\"wordCount\":1873,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/satixfy-announces-first-quarter-2023-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20230526005011r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/satixfy-announces-first-quarter-2023-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/satixfy-announces-first-quarter-2023-results\\\/\",\"name\":\"SatixFy Announces First Quarter 2023 Results - 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Our results demonstrate that we remain on track for revenue growth in 2023, with an associated improvement in the bottom line.\u201d First Quarter 2023 Results Total revenues for the first quarter of 2023 were $2.4 million, an … Continue reading \"SatixFy Announces First Quarter 2023 Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/satixfy-announces-first-quarter-2023-results\/","og_site_name":"Market Newsdesk","article_published_time":"2023-05-26T12:03:07+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230526005011r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/satixfy-announces-first-quarter-2023-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/satixfy-announces-first-quarter-2023-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"SatixFy Announces First Quarter 2023 Results","datePublished":"2023-05-26T12:03:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/satixfy-announces-first-quarter-2023-results\/"},"wordCount":1873,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/satixfy-announces-first-quarter-2023-results\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230526005011r1&sid=flmnd&distro=nx&lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/satixfy-announces-first-quarter-2023-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/satixfy-announces-first-quarter-2023-results\/","name":"SatixFy Announces First Quarter 2023 Results - 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