I would start by asking the basic question:
What is the purpose of a public company investor presentation (and also what is not the purpose)?
Ideally, that purpose should be to educate the market (both current and prospective investors) about the company's business. It should give the market enough information to make a judgement on the present and future value of the business. It should not express an opinion on the share price or dwell on details that have no bearing on the value of the business.
The last presentation in December seemed to totally lose the plot, starting with news clippings about sunscreen chemicals mixing with chlorine and ending with a timeline of ASX queries.
I would prefer to see every presentation either begin with or include in an appendix slides that clearly explain the company's business. This does not start with a graph of Zinclear's UV absorption vs competitors, as it has in past presentations. Actually it shouldn't start with Zinclear at all! At it's core, the business is a nanomaterials company with decades of experience improving the MCP technology. This gives us a significant cost and quality advantage in certain applications, such as zinc oxide for sunscreen and cosmetic products. The most fundamental thing that any investor needs to understand about this business is how durable is this advantage in MCP, and unfortunately no presentation has come close to acheiving that.
Zinclear is overwhelmingly the biggest source of revenue now and deserves a lot of attention, but it is important to frame it as one successful example of how the MCP tech can be applied. Listing off trailing growth rates from tiny bases doesnt help the market understand why Zinclear is such a good business. Here I think the company would do well to focus on why Zinclear is a superior solution to both chemicals and minerals (structure, safety, quality, and cost), how it is becoming an irreplaceable value-added ingredient as more products are formulated around it (maybe use Ethical Zinc as a case study), and the growth potential from existing and prospective customers (TAM). If they want to discuss potential regulatory tailwinds to growth in TAM, this is where they can insert recent industry news.
Given Alusion capacity is currently being tripled, I would like to see a similar explanation of the product, current applications TAM, potential applications, etc. The IPO prospectus notes that Alusion can be made at room temperature using MCP. This is a huge advantage over other synthetic sapphire, which is apparently very expensive because the production process requires very high temperatures.
A slide about management - sell yourselves. Excellent capital allocation is a big part of the story. Lev's track record at TWD and the Board's performance after change of control are relevant.
Recent financial performance - this is the stuff we can pull from other sources, so really what is most helpful has been the additional color around order volumes and timing of shipments. Don't stress about the stock price going down when sales are going up, it can be totally random and it will almost always make you look silly in the short-term. We can see the results have been great even while the rest of the industry struggles, so explain as best you can the positioning and moat that has enabled that growth, and then we can develop our own informed opinion about how durable that moat is and what it means for the future of the business and intrinsic value.
The great thing about this exercise is that you should only have to make the slides once yet you can use them many times, as the basic fundamentals of the business will not change much from quarter to quarter but are always relevant. You can have a basic outline that allows any new reader to quickly understand the business and pepper in new slides with notable recent developments for current shareholders.
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