Slide 1: Welcome to the 1Q25 webinar
Welcome to the 1Q25 webinar April 25, 2025
Slide 2: Today's agenda
Today’s agenda ▪ Q1 in nutshell ▪ Financial highlights ▪ R&D pipeline progress ▪ Implementation of the strategy ▪ Outlook ▪ Summary ▪ Q&A
Slide 3: Modulight
modulight
Slide 4: We fight cancer with science and technology
This is Modulight We fight cancer with science and technology ▪ We are a biomedical company ▪ We also manufacture products that designs and manufactures for other high-value applications laser devices for the treatment such as flow cytometry, quantum of cancer and eye diseases and computing and digi
Slide 5: Q1 in brief
Q1 in brief ▪ Sales & EBITDA continue to improve YoY & sequentially ▪ Addressable market grows (indications, customers & macro) ▪ Order intake continued the positive development Revenue increased by that started last year including $800k order from 52% compared to the one of the large quantum custom
Slide 6: Financial highlights January–March 2025
Financial highlights January–March 2025 ▪ Revenue was 52% higher than in the corresponding period of 2024 and 12% higher than in the previous quarter ▪ Wider customer base enabled growth despite delays caused by Revenue EBITDA EBIT third parties to our customers ▪ The transition to the PPT business
Slide 7: Key figures
Key figures Group EUR 1,000 unless otherwise noted 1–3/2025 1–3/2024 1–12/2024 1) Revenue 1,606 1,059 4,095 EBITDA -582 -1,314 -4,836 EBITDA - % -36.2% -124.1% -118.1 % Operating result (EBIT) -1,585 -1,978 -8,337 Operating result (EBIT) - % -98.7% -186.8% -203.6 % Earnings for the period -1,616 -1,
Slide 8: Growth in the R&D pipeline
Growth in the R&D pipeline ▪ R&D pipeline increased to 31 (28) projects – aim in all projects is to Number of projects with commercialization potential commercialize our own products ▪ Growing pre-production orders related 35 to the R&D pipeline reflect maturation of the pipeline 30 ▪ New indication
Slide 9: Modulight's customer base
Modulight’s customer base Customer maturity Customer ownership continues to improve 35 30 ▪ 35% have over 1bn revenue ▪ 58% of customers are listed 25 companies ▪ 58% are established companies 20 ▪ 35% are privately owned 15 ▪ 6% are research companies 10 5 0 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23
Slide 10: Revenue model
Revenue model The objective is revenue, based on the Customized R&D projects based on the Best Efforts share of pharmaceutical or Pay Per principle, without revenue risk for Modulight Treatment fees, or the utilization rate of industrial applications. Predictability of Modulight’s revenue is improvi
Slide 11: CASE: Most Efficient Tumor Size Reduction Achieved by Modulight Patented Light Delivery System
CASE: Most Efficient Tumor Size Reduction Achieved by Modulight Patented Light Delivery System Modulight’s Patented Science Study Revisited *) Photoimmunotherapy Light Delivery System - Real-time light optimization using - Combining PIT with Chemo → - Multiple patents granted for Modulight Cloud (ne
Slide 12: Strategy and targets
Strategy and targets Extension of the offering to new Commercial and indications and applications operational excellence Geographical New business State-of-the-art laser expansion models technology expertise
Slide 13: Geographical expansion
Geographical expansion ▪ Investments in geographical expansion continued and has resulted in increased business in US but also outside ▪ Strenghtened presence in the US with both local Modulight seeks growth sales and clinical support is bearing fruit. This is especially in the US market, best visib
Slide 14: New business models
New business models ▪ 50+ sites have PPT devices installed ▪ Several leading hospitals from both the East and West Coast regularly use Modulight’s technology with the PPT model Modulight strongly seeks growth through SaaS-based ▪ Install base now includes several business models, such as continents
Slide 15: New indications and applications
New indications and applications ▪ More customers & leads with synergies to existing customers & indications ▪ UTUC P3 ▪ Glioblastoma – early stage Modulight aims to expand ▪ Ophthalmology its offering to cover other ▪ Other high-value add laser technology indications as well as gaining momentum e.g
Slide 16: Commercial and operational excellence
Commercial and operational excellence ▪ Focus on operational efficiency improved operating margins is seen now in several quarters sequential improvement Modulight aims to develop ▪ Less work on taking in use new its commercial and machinery has resulted to more R&D operational expertise as and Sale
Slide 17: State-of-the-art laser technology expertise
State-of-the-art laser technology expertise ▪ Already completed investment program continues to benefit us more and more and generates positive customer feedback about our capabilities to supply & differentiate. This is also visible now in the orderbook. Modulight continues investments into high val
Slide 18: Outlook
Outlook Most of Modulight’s customer projects are various types in the early stages of development. These projects are focused on commercializing Modulight’s own products. In line with its strategy, Modulight is also transitioning from device delivery- based payments to a new treatment-session-based
Slide 19: Summary
Summary ▪ Sales & EBITDA continue to improve YoY & sequentially ▪ Addressable market grows as indications & expanded and products sold to more customers in addition to macro trend ▪ Order intake continued the positive development that started last year including $800k order from one of the large qua
Slide 20: Thank you! Questions?
Thank you! Questions?