Oneview Healthcare PLC · ASX:ONE
Oneview Healthcare — H1 2024 Earnings Presentation
48 slides from Oneview Healthcare's earnings presentation, Aug 29, 2024
Slide 1: Half Year 2024 Results
Half Year 2024 Results Oneview Healthcare PLC | ABRN: 610 611 768
Slide 2: Legal disclaimer
Legal disclaimer This presentation contains general information about the activities of Oneview Healthcare PLC (ABRN 610 611 768) (Oneview or Company) which is current as at 28 August 2024. It is in summary form and does not purport to be complete. It presents financial information on a statutory ba
Slide 3: Speakers
Speakers James Fitter Helena D’Arcy Niall O’Neill JP Howe CEO CFO Chief Product & Chief Operating Strategy Officer Officer
Slide 4: Our vision
Our vision To power personalised, exemplary care experiences 4
Slide 5: Company Overview
Company Overview 100+ hospitals across 24 health systems using Oneview including top US hospitals Enabling the “Connected Patient Room” with cloud-based, modular SaaS products Land and expand strategy targeting enterprise healthcare systems with significant Total Contract Value potential 3-5 year co
Slide 6: Agenda
Agenda H1 24 in Review 7 Cloud Investment Validated …………………………………………….. 13 Baxter Partnership ……………………………………………………………. 21 Virtual Care ………………………………………………………………………. 24 MyStay Mobile …………………………………………………………………. 27 People & Culture ……………………………………………………………… 29 H1 24 Financial Results 33 Product & Innovat
Slide 7: H1 in Review
H1 24 in Review Onéview>
Slide 8: Market Trends
Market Trends Workforce Challenges Financial Challenges Artificial Intelligence Market & Vendor Consolidation Surveys show 85% of US nurses US Hospitals’ labour costs increased AI is creating new opportunities to Healthcare systems continue to planning to leave current roles and by more than $42.5 b
Slide 9: H1 24 Operational Highlights
H1 24 Operational Highlights 4 major new logos added, 3 of which are H1 revenue delays due to: enterprise healthcare systems; contracted beds • postponement of projects by a large customer +16% YTD due to corporate activity; set to re-commence in September 2024 Baxter Partnership delivering very sig
Slide 10: New Logos
New Logos Northern Virginia’s leading • Master Service Agreement signed Mercy is the 6th largest • Master Technology Agreement signed for 3- nonprofit healthcare provider for 1,900 beds Catholic healthcare system in year term to support deployments across the with operating revenue of the US with op
Slide 11: H1 Financial Highlights
H1 24 Financial Highlights Recurring Revenue €3.57 ▲ 8% Total revenue €4.67 ▲ 7% Gross margin €3.40 ▲ 20% Gross margin % 73% ▲ 8% Operating Expenditure €7.11 25% Operating EBITDA 1 (€3.71) 30% Net loss after tax (€5.49) 23% 1 Excluding depreciation, amortization and non-cash expenses Currency figure
Slide 12: Gross Margin %
Gross Margin % Reduced delivery of hardware in H1 driving an improvement in blended Gross Margins 12
Slide 13: Cloud Investment Validated
Cloud Investment Validated 13
Slide 14: Transition to Cloud SaaS
Transition to Cloud SaaS 100% 60% 100% Of all customers that were Of our customers are Of new customer running legacy “Gen 2” now deployed on our sales are deploying platform have now been cloud platform to the cloud platform migrated to the current Android CXP platform, removing complexity and over
Slide 15: Speed to Value
Speed to Value • Contract signed with Mercy Love Women’s Centre on the February 2nd • Cloud platform went live on April 7th • 8 weeks from start to finish - 87 Rooms • Mercy Ardmore currently deploying to 258 beds – go live September 30th These rapid go lives have had a significant positive impact o
Slide 16: Inova Update
Inova Update • Completed customer scoping workshops in Q2 • Currently deploying Cloud CXP at Oakville Emergency Department (“ED”) and Cloud CXP, Whiteboard and Door Sign at the new Fairfax ED • Three other site deployments currently in planning phase Inova’s new Oakville ED 16
Slide 17: Delivering Value
Delivering Value Patient Care & Experience Operations & Finance Care Team Experience Promote high-quality care and exceptional Alleviate staff burden and care team Unlock efficiency gains to create capacity for patient experiences while fostering diversity, workload by saving nurse time and enabling
Slide 18: Data Analytics
Data Analytics Oneview’s Data Analytics platform, aligned with the Oneview Value Framework, enables customers to track data that impacts their goals Sources Insight Care Experience Executive Operational events Platform Reports Monthly KPI reports for and user actions customer executives Third-party
Slide 19: Bed Growth
Bed Growth Contracted Bed Numbers 35,000 30,000 25,000 11,100 16% growth in contracted beds 20,000 1,556 in H1 15,000 10,000 18,313 15,821 14,475 5,000 - Dec 2022 Dec 2023 June 2024 Total Contracted In Contracting In RFP/Proposal 19 Statements on this page (excluding "Contracted") are "forward-looki
Slide 20: Live Beds Burn-up Chart
Live Beds Burn-up Chart Install Burn Up 25000 19869 19869 20000 18313 18046 18313 16976 15000 15294 13642 11744 10000 10361 5000 0 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Beds Live Total Total Contracted Beds Total Beds Including "In Contracting" Projections on this page (excluding "Contracted") a
Slide 21: Baxter Partnership
21 Baxter Partnership Onéview>
Slide 22: Baxter & Oneview Partnership
Baxter & Oneview Partnership Oneview's CXP Platform In order to prepare for a complements Baxter’s step change in our ”Room of the future” business, Baxter vision & strategy. Baxter encouraged Oneview to internal pipeline of over scale-up to meet 100 opportunities Baxter & Oneview officially expecte
Slide 23: Baxter Sales Engine
Baxter Sales Engine Provides up-sell opportunity for Baxter customers using other Care Communication portfolio products, and cross-sell opportunity for Baxter customers using beds/medical devices Baxter see the Oneview Care Experience Platform as a clear complement to their Care Communications & Col
Slide 24: Virtual Care
Virtual Care Onéview>
Slide 25: Virtual Nursing Opportunity
Virtual Nursing Opportunity Virtual nurses augment floor nurses to perform non-physical care 66% of believe virtual nursing will become integral to care delivery models Examples include admission interviews, patient CNOs in acute patient care education, answering questions and discharge preparation,
Slide 26: Virtualisation of Care Driving Demand
Virtualisation of Care Driving Demand Current State Future State 1. Patient TV 3 1. Patient TV 2. CXP Hub compute 2. CXP Hub compute 3. Camera and audio unit 3. Camera and audio unit 3 4. Camera compute 1 5. Virtual care TV 4 5 6. Physical whiteboard 2 1 6 2 ✘ Siloed solutions ✓ Integrated solution
Slide 27: MyStay Mobile
MyStay Mobile Onéview>
Slide 28: MyStay Mobile Update
MyStay Mobile Update • Capital-constrained healthcare providers require a solution that balances affordability with quality patient care and reduced task burden for nursing • Oneview’s MyStay Mobile product brings the power of our industry-proven Care Experience Platform to patients’ own devices • U
Slide 29: People and Culture
People and Culture Onéview>
Slide 30: Energetic & Innovative Team
Energetic & Innovative Team In a recent employee sentiment survey, over 91% of employees stated that they “feel highly valued”. Employee turnover ratio in H1 <5% AI skills drive underway. 100% of employees have completed a Responsible AI Awareness programme. 100% of employees have to set personal AI
Slide 31: New Leadership
New Leadership Nichole Fetterman Dan Hulverson Darragh Lyons VP Account Management & Customer Success VP Sales North America Chief Financial Officer Promotion date: 15th February 2024 Start date: 4th June 2024 Start date: 9th September 2024 Nichole was promoted to lead the global Dan has over 20 yea
Slide 32: What Our People Say
What Our People Say….. Amazing People: want others to grow, share information, help An inclusive and encouraging team others. People believe they can of people, all who have been happy make the world a better place, to teach, share, encourage and improve patients’ lives. collaborate with each other.
Slide 33: H1 24 Financial Results
H1 24 Financial Results Onéview>
Slide 34: Capital Structure
Capital Structure Ticker ASX: ONE Share Price (AUD) $0.41 Current shares on issue (undiluted) 675.1 m Market Capitalisation $277 m Restricted Share Units & Share Options Restricted Share Units 32.9 m Share Options 1.5 m Fully Diluted Shares 709.6 m Values as at 28/8/2024
Slide 35: HY 24 Income Statement
HY 24 Income Statement VARIANCE % € millions • Recurring revenue increase of 8% HY24 HY23 (HY24 – HY23) Recurring revenue 3.57 3.32 8% • Total revenue up 7% Non-recurring revenue 1.10 1.04 6% Total revenue 4.67 4.36 7% Cost of sales (1.27) (1.53) (17%) • Material increase in revenue growth in the se
Slide 36: HY 24 Balance Sheet
HY 24 Balance Sheet as at as at • Cash balance of €6.0m as at 30 June 2024 € millions 30-Jun-24 31-Dec-23 Assets • No debt Cash and cash equivalents 5.97 11.55 Trade and other receivables 2.64 5.71 • Capitalisation of MyStay Mobile complete as Property, plant and equipment 1.31 1.04 product moves ou
Slide 37: HY 24 Cash Flow
HY 24 Cash Flow • Net cash of €6.0m (A$9.9m) at 30 June 2024. € millions HY24 HY23 • The majority of the Company’s cash receipts in Cash flows from operating activities respect of annual customer renewals are receivable in Receipts from customers 4.21 4.16 Q3 and Q4 of the calendar year. Payments to
Slide 38: Product & Innovation
38 Product & Innovation Onéview>
Slide 39: Product Innovation
Product Innovation MyStay Mobile Digital Door Sign 2.0 Digital Whiteboard 2.0 Launched Q1 2024 Launched Q1 2024 Launching Q3 2024 Successfully piloted at NYU Langone’s Long Implementing at Nicklaus Children’s Hospital Implementing at Inova Health System in H2 Island Community Hospital and Sharp Heal
Slide 40: Upsell Opportunities
Upsell Opportunities % Per Bed Per Day Uplift • Add-on products can drive up to 92% upsell in Per Bed Per Day revenue over core platform • Modular nature of products lends itself to up-selling during customer lifetime • Customers can choose product mixes per facility to suit needs/infrastructure 40
Slide 41: AI Product Strategy
AI Product Strategy • Traditional competitors making little use of AI • Customer discovery conducted in Q2 2024 – resulted currently in a shortlist of problems which could be solved with AI • Emerging competitors are using predictive and experimental Gen AI • 4 problems are currently being assessed
Slide 42: Scalability
42 Scalability Onéview>
Slide 43: Preparing to Scale
Preparing to Scale Leadership offsite held in Ireland at the end of June. • 22 scaling initiatives agreed • 3 prioritised as high impact • Channeling ANZ and European technical resources to support US growth – follow the sun model Enhancing the CXP Implement Project Deployment platform Management st
Slide 44: AI Productivity Strategy
AI Productivity Strategy AI Governance & Policies Enterprise Internal licensing for AI Chatbot Productivity Tools AI-based Code generation productivity initiatives i.e. GitHub CoPilot Alignment with ISO 42001 44
Slide 45: AI Chatbot - “Doc”
AI Chatbot - “Doc” • “Doc” is an AI chatbot based on Azure Open AI using a gpt-4o model • A curated set of data from the company’s SharePoint and Confluence is available to the chatbot • The chatbot is available to all employees for general use i.e. test case development, product, sales, marketing &
Slide 46: Outlook
46 Outlook Onéview>
Slide 47: Outlook
Outlook H1 was disappointing from a financial perspective due to events beyond our control However, seasonally strong H2, record sales In progress customer virtual care pilots are pipeline and key growth drivers have providing fresh empirical evidence of the positioned the company for a value driver
Slide 48: Questions?
a ~-Oneview> Questions?