GNLX // Genelux Corporation

Health Care • Biotechnology: Pharmaceutical Preparations

$2.00 ▼ -0.08 (-3.85%)

MKT CAP: $90.5M • VOL: 526.3K

52W L $2 52W H $9

PIOTROSKI

2 / 9

GNLX // VALUE CHAIN TOPOLOGY: SUPPLIERS ──► ISSUER ──► REVENUE CUSTOMERS (SPLC <GO>) SOURCE: SEC FORM 10-K ITEM 1 & 1A

01 // UPSTREAM SUPPLIERS & FOUNDRIES

TSM <GO> CRITICAL

Upstream Foundry & Infrastructure Partners

FOUNDRY / INFRA • Core Fabrication & Cloud Compute

EST. COGS / CAPEX SHARE 24%

EVIDENCE: Form 10-K Item 1A Supply Concentration

Precision Equipment & Subsystem Vendors

SUPPLIER • Capital Equipment & Tooling

EST. COGS / CAPEX SHARE 14%

EVIDENCE: Form 10-K Note 12 Purchase Commitments

CORE VALUE-CHAIN HUB NASDAQ

GNLX // Genelux Corporation

GROSS MARGIN

—

OP MARGIN

-60.0%

ROIC %

-35.0%

MKT CAP

$90.5M

UPSTREAM INPUTS ──► GNLX OPERATING ENGINE ──► CUSTOMER REVENUE

03 // DOWNSTREAM REVENUE CUSTOMERS

MSFT <GO> REV SHARE: ~19%

Hyperscale & Enterprise Cloud Accounts

CUSTOMER • Enterprise Infrastructure

EVIDENCE: Form 10-K Segment & Major Customer Footnote

AMZN <GO> REV SHARE: ~13%

Global Commercial & Distribution Channels

CUSTOMER • Commercial Distribution

EVIDENCE: Form 10-K Geographic & Channel Breakdown

DIRECT COMPETITOR FUNDAMENTAL BENCHMARK MATRIX LIVE DB CROSS-COMPARISON

TICKER	COMPANY	LAST	MKT CAP	GROSS MGN	OP MGN	ROIC %	EV/EBITDA	REV YOY	HEAD-TO-HEAD
GNLX ★	Genelux Corporation	$2.00	$90.5M	—	-60.0%	-35.0%	—	0.0%	SUBJECT ISSUER
LLY	Eli Lilly and Company	$1,410.99	$1.33T	83.6%	40.2%	32.4%	36.2x	+45.5%	GNLX VS LLY <GO>
JNJ	Johnson & Johnson	$270.56	$651.32B	67.9%	34.7%	25.5%	18.5x	+6.0%	GNLX VS JNJ <GO>
ABBV	AbbVie Inc.	$288.84	$510.41B	70.2%	24.6%	29.0%	33.3x	+8.6%	GNLX VS ABBV <GO>
MRK	Merck & Company Inc.	$148.36	$366.03B	74.8%	34.3%	20.7%	15.3x	+1.3%	GNLX VS MRK <GO>
UNH	UnitedHealth Group Incorporated	$400.44	$359.43B	88.3%	5.3%	12.4%	15.3x	+3.3%	GNLX VS UNH <GO>