Renalytix Plc · LSE:RENX
Renalytix — H1 FY2025 Earnings Presentation
18 slides from Renalytix's earnings presentation, March 2025
Slide 1: Renalytix plc Half Year Report
Renalytix plc Half Year Report For the six months ended 31 December 2024 March 2025
Slide 2: The first and only kidney disease prognostic test
The first and only kidney disease prognostic test that is: - FDA approved ✓ - Fully Medicare reimbursed ✓ - Recommended by Clinical Guidelines ✓ - Available NOW to ~14M US diabetic kidney disease (DKD) patients ✓ - Able to address the needs of ~260M DKD patients globally ✓
Slide 3: Fully de-risked and focused on commercial growth
Fully de-risked and focused on commercial growth • Rare, uncontested market of ~14M U.S. and ~260M global DKD patients – with no foreseeable commercial competition • Fully de-risked and positioned for scalable commercial growth • Full Medicare reimbursement granted at $950 per test (~50% of US TAM)
Slide 4: Milestone achievements since inception in 2018
Milestone achievements since inception in 2018 2018 2020 2023 2024 London Stock o $950 Price Set By Medicare o FDA Approval o Jan. Long term outcomes published Exchange IPO o NY State Commercial Testing Approval o Jan. New sales team live o Feb. Recommended in Clinical Guidelines o Jun. Medicare cov
Slide 5: Renalytix – KPIs and expectations
Renalytix – KPIs and expectations Target H1 update Forward looking • Revenue expectations • FY25 revenue target of $3.2m on • Pipeline • Guidance set in Sept 2024 of $3.2m track and Company confirms • new insurance payors in FY25, $8.5m in FY26 and $17.5m forward guidance • new hospital systems in F
Slide 6: H1 Financial Highlights
H1 Financial Highlights Revenue • Revenue growth exceeded 20% quarter over quarter post-funding expectation • Commercial testing volume increased to 82% from 60% in prior period • Recognized revenue positively impacted by improvement in cash collections, high Medicare reimbursement • On track for fo
Slide 7: Direct to Doctor sales strategy delivering higher than forecast test volume
Direct to Doctor sales strategy delivering higher than forecast test volume 600 552 Quarterly Tests Received – Direct-to-Doctor Channel 500 400 362 341 322 300 232 240 205 206 200 154 95 100 63 47 0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Calen
Slide 8: Test reimbursement higher with >95% Medicare claims paid in under 30 days
Test reimbursement higher with >95% Medicare claims paid in under 30 days Reimbursement momentum has increased average test price Insurance Payment Mix & reduced cash collection time • 52% of tests are now Medicare & Medicare Advantage 11% 15% patient • Medicare payment rate now >95% 37% • Multiple
Slide 9: Total revenue growth in line with post-funding expectations
Total revenue growth in line with post-funding expectations Total Quarterly Revenues FY 2025 1,250,000.00 Begin Full Medicare Coverage 1,000,000.00 750,000.00 500,000.00 250,000.00 - Q1 2025 Q2 2025 Q3 2025 Q4 2025 Actual Revenue Forecast Revenue
Slide 10: Continuing Operation Improvements
Continuing Operation Improvements Customer service, logistics and billing improvements now paying dividends • More orders being processed with significantly fewer cancellations • Turn around time to test results measurably improved • Time from billing to insurance payment reduced by 65% • Continuing
Slide 11: Significant Reduction in Order Cancellation Rate
Significant Reduction in Order Cancellation Rate Includes samples received 30% 25% 24% 23% 21% 19% 20% 16% 15% 14% 10% 9% 8% 8% 5% 0% April May June July August September October November December
Slide 12: Increased Lab Productivity (Sample Turn Around Time)
Increased Lab Productivity (Sample Turn Around Time) Average days from sample receipt to order complete 16.0 14.5 14.0 12.8 12.7 12.8 12.0 10.1 10.0 7.8 8.0 7.0 6.7 6.7 6.0 4.0 2.0 0.0 April May June July August September October November December
Slide 13: Further progress highlights
Further progress highlights • Full roll-out completed with Accountable Care Physicians New York serving 500,000 patients • Expect additional hospital system and care network roll-out disclosures throughout calendar 2025 • High potential for insurance company initiated / supported roll-outs • Pharma
Slide 14: We are not just a testing company
We are not just a testing company Renalytix continues to make progress in broadening it preventative medicine value proposition • Prognostic Testing Service with kidneyintelX.dkd • Pharmaceutical and Clinical Research Opportunities • Intellectual Property and Technology Asset Development • Reimburse
Slide 15: Appendix
PR renalytix’ Appendix
Slide 16: Profit or Loss
Profit or Loss $000 $000 $1000 Testing services revenue 1,183 1,168 2,150 Pharmaceutical services revenue 67 139 Total revenue 1,251 1,168 2,289 Cost of Sales (753) (954) (2,076) Gross profit 498 214 213 Administrative expenses (8,026) (18,395) (30,733) Stock based compensation expense 327 620 1,084
Slide 17: Balance Sheet
Balance Sheet $000 $000 $000 Total non-current assets Inventory Security Deposits Financial asset at fair value through profit or loss Trade and other receivables Prepaid andother current assets ‘Cash and cash equivalents Total current assets Total assets Trade and other payables Current lease liabi
Slide 18: Cashflows
Cashflows $000 $000 $000 Cashflow from operations Changes in working capital Trade and other receivables Prepaid assets and other current assets Inventory Trade and other payables Net cash used in operating activities Cash flows from investing activities: Repayment of debt Proceeds from issuance of