Breakthrough Technologies to Make Today’s Products Better; Significant Growth Opportunities in Multiple End-Markets



KEY POINTS
  • A leading player in the fast-growing metamaterials market. We believe META is a category-defining company that can use its expertise in metamaterials to make a wide range of today’s products safer, lighter, more efficient, and easier to use.
  • Multiple opportunities for success. META has numerous development projects underway in a broad range of end-markets. We believe traction in any of these projects will lead to significant revenue and earnings growth.
  • Milestones are more important than quarterly results at this stage of growth. META is an early-stage company working on next-generation products that have never been done before. In the initial stages of product development, revenues can be lumpy, and in some cases, the company is doing funded development work, which can affect margins. We believe investors should focus on product milestones and announcements rather than quarterly results at this stage of growth.
  • Established partnerships with leading industry players. META’s next-generation technologies have allowed the company to enter into partnerships or joint development agreements with some of the largest multinational industrial and technology corporations, such as Airbus, PPG, Lockheed Martin, and Samsung among others.
  • Robust portfolio of patents. We believe the extensive patent portfolio is a competitive advantage that will continue to drive partnerships with larger players and licensing revenues. META has a growing portfolio of more than 472 active utility and design patent documents, of which 292 patents are issued. The company’s portfolio comprises 112 patent families, of which 63 include at least one granted patent.
OUR INSIGHTS

The Opportunities

META is at the early stage of what we expect will be a significant growth curve as its technologies are incorporated into many of today’s products in a range of industries. The company’s growing portfolio of technologies, along with its production capabilities, partnerships, and deep patent portfolio, give META a competitive advantage as it works to penetrate addressable markets that are collectively well in excess of $50 billion.

The Obstacles

META is an early-stage company with limited commercial sales and considerable spending needs as it commercializes its products. In addition to the challenges of bringing new technologies from the lab to commercialization, it is likely that the company will need additional capital in the coming years. However, we expect any capital raise will be tied to significant future growth opportunities.

A leading player in the fast-growing metamaterials market. We believe META is a category-defining company that can use its expertise in metamaterials to make a wide range of today’s products safer, lighter, more efficient, and easier to use.

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