Remember that time Louis painted a lovely picture of the...

Remember that time Louis painted a lovely picture of the potential future revenue?

GPI: US$5M to US$15M annually beginning in late 2018
Storage: US$20M to US$30M annually beginning in late 2018
15 design wins: approximately US$80M lifetime value

BrainChip Holdings Ltd March 2018 Quarter Update
30 April, 2018
https://www.asx.com.au/asxpdf/20180430/pdf/43tm04sqnmmljd.pdf

Completion of GPI Proof of Concept Design
During the first quarter of 2018 BrainChip and Gaming Partners International, Las Vegas, Nevada, signed a Joint Development, Licensing and Revenue Sharing Agreement. The GPI Automated Table System (ATS) will initially be deployed for currency security in Asia, primarily Macau and Singapore. The development is based on existing BrainChip intellectual property and new jointly developed intellectual property. The system will be showcased at the G2E Conference in Macau during the week of 15 May 2018. Commercial deployment is expected later in 2018. The utilisation of BrainChip’s Spiking Neural Network (SNN) provides virtually instant currency security and correlation with Radio Frequency Identification (RFID) counts. Under the Development Agreement, upon completion of the Development Phases the Commercialisation Agreement which provides for a minimum 5-year Revenue Sharing arrangement cannot be terminated, is renewable and provides 25% of all GPI Revenue derived from the sale the jointly developed solution or technology to BrainChip. This commercial deployment represents potential revenue for the Company estimated in the range of US$5M to US$15M annually beginning in late 2018. GPI is responsible for product pricing and end-user demand creation.

Quantum Corporation Interoperability Established
Also during the quarter, BrainChip was selected to provide its AI-powered object search and facial recognition technology to Quantum Corporation. Quantum, San Jose, California is a leading supplier of large-scale storage including both disk and tape backup. Storage is a fundamental component in Civil Surveillance, Public Safety, Commercial Surveillance, the Internet-of-Things (IoT), Big Data and the Media and Entertainment markets. Other leading suppliers in the storage market include HP, Dell/EMC, IBM, NetApp and Hitachi. The Company’s SNN search capabilities have already garnered attention with these large Original Equipment Manufacturers (OEMs). The storage market opportunity represents potential revenue for the Company estimated in the range of US$20M to US$30M annually beginning in late 2018 with significant growth opportunities as the technology is expected to achieve widespread adoption. The potential Revenue is based on the Company’s expectations of modest penetration in a very large market. The opportunities represent either; an agreement to integrate BrainChip products with their system, or to market BrainChip products with their products to provide a complete solution.

Outlook
Going forward, BrainChip expects continued sales growth with OEMs, System Integrators and End Users in 2018. Below is a graphic representation of the Company’s Served Available Market (SAM) value by markets segment for which the Company can provide solutions with BrainChip Studio and Accelerator and the AkidaTM NSoC. The Company’s recent participation in the SCTX Anti-Terrorism Conference in Las Vegas, Nevada generated an additional 179 leads and the commercial sales pipeline continues be robust with over 500 active leads, more than 100 recognised opportunities of which over 50 are well qualified with a lifetime value of over US$300M and 15 design wins with a lifetime value of approximately US$80M.