Lilium N.V.(US:LILM)2022-06-07 18:28Financial Data and Key Metrics Changes - Total cash spend in Q1 2022 was $67 million, lower than Q4 2021's $73 million [38] - Liquidity as of March 31, 2022, stood at $331 million [38] - Full year total cash spend is expected to be approximately $265 million [39] Business Line Data and Key Metrics Changes - The company has successfully conducted a preliminary design review, confirming that the Lilium Jet can meet targeted technical and commercial requirements [32] - Significant progress has been made with EASA, aiming to conclude the full agreement of the certification program in 2022 [35][36] Market Data and Key Metrics Changes - Flight activity in Spain has significantly increased, with a historic achievement in main wing transition [36] - There is significant interest from the premium segment, confirming the suitability of the spacious cabin and proprietary jet propulsion [36] Company Strategy and Development Direction - Lilium aims to revolutionize regional aviation by making it sustainable and more accessible [26] - The company plans to leverage its unique position to scale technologies across multiple platforms in regional electric aviation [28] - The introduction of Klaus Roewe as the new CEO is expected to enhance execution capabilities while maintaining a focus on innovation [30][31] Management's Comments on Operating Environment and Future Outlook - Management is closely monitoring the effects of the conflict in Europe, COVID, and general economic factors on the business [38] - The company is optimistic about its certification progress and the upcoming industrialization phase [67] Other Important Information - Lilium has filed over 70 patents, with 37 published recently, emphasizing its commitment to innovation [68] - The company has established an equity line of credit with Tumim Stone Capital, allowing for the sale of up to $75 million in new shares [40] Q&A Session Summary Question: Impact of wing transition on partnerships - Management indicated that partners were already confident in the company's capabilities, and the completion of the preliminary design review has strengthened collaboration [74][75] Question: Innovation in engine development and material supply - The company is aware of material shortages and has secured volumes with contractors through 2026, including a collaboration with Livent for lithium supply [76] Question: Battery cell chemistry and longevity - Management emphasized the importance of cycle life and charging speed in selecting battery technology, with satisfactory initial aging tests [84][85] Question: Addition of short-running landing functionality - This feature was always a potential addition, providing more flexibility and energy efficiency during landing [89][90] Question: Status of US expansion in Palm Beach, Florida - The company is progressing well in Florida, with partners secured and ongoing infrastructure development [119] Question: FAA certification changes - Management is awaiting further clarification from the FAA but is optimistic about the potential harmonization of certification processes with EASA [121][124] Question: Digital services provided by Lilium - The company sees significant revenue potential in digital services, including partnerships for battery monitoring and predictive maintenance [127][128]