Resonance Health Ltd · ASX:RHT
Resonance Health — Investor Day (October 2025)
42 slides from Resonance Health's investor day presentation, Oct 13, 2025
Slide 1: Slide 1
Slide 2: Slide 2
Slide 3: Resonance Health Investor Strategy Day
Resonance Health Investor Strategy Day 13 October 2025 Andrew Harrison Benjamin Carruthers Dr Helen Pavitt MD & CEO CFO VP, Clinical Trials 1
Slide 4: Agenda
Agenda Topic Presenter Slide # 1. Introduction & Strategy Overview Andrew Harrison 3 2. Financial Overview Benjamin Carruthers 17 3. Resonance Clinical & TrialsWest Business Dr Helen Pavitt 25 4. Panel Q&A Andrew Harrison, Benjamin Carruthers & Helen Pavitt
Slide 5: Introduction and Strategy Overview
Resonance Health Introduction and Strategy Overview Andrew Harrison MD & CEO 3
Slide 6: Significant revenue growth and diversification since FY23
Significant revenue growth and diversification since FY23 FY26 FY23 ✓ FY23–FY26 strong revenue growth (~45% CAGR) ✓ Profitable ~$2M EBITDA ✓ Diversified revenue ✓ Customer, clinical, and technical Total Revenue $4.4M synergies Total Revenue Guidance ~$17M
Slide 7: We participate in a number of areas of the global clinical trial ecosystem
We participate in a number of areas of the global clinical trial ecosystem…
Slide 8: We have significantly expanded our addressable global market
We have significantly expanded our addressable global market… + CRO and Investigator site services ~$70b New Imaging Endpoints for + obesity and liver fibrosis Metabolic & Obesity VAT, SAT, MRE >$500m + liver fat market ~$300m + MRI Liver Iron 2023 Measurement market ~ $200M
Slide 9: Operating in markets with strong tailwinds globally & locally
Operating in markets with strong tailwinds globally & locally Australian Clinical Trial Market Global Clinical Trial Market Key Drivers - Australia Key Drivers - Globally ✓ Approvals and regulatory system ✓ Increasing rapidity of technological ✓ Public private health system breakthroughs ✓ Multi-cul
Slide 10: More Customers, More Services, More Therapeutic Areas
The strategy of getting a greater “share of wallet” expands on 3 vector's, more therapeutic areas, more services to each customer, and more customers through organic (SaMD) or acquisitive (buy expertise & footprint) growth. More sites – Geographic (Australia then overseas) – More phases – Later stag
Slide 11: Examples of early success
Examples of early success… Therapeutic Services Area First Liver / Spleen Iron, then Site Australian global Haematology pharma services - Trialswest Work Won First Liver / Spleen Iron, then central US global pharma Haematology reading & image storage First CRO, then Site services – TrialsWest, & Met
Slide 12: SaMD imaging endpoints development and revenue
In the SaMD business we need to develop meaningful imaging endpoints for trials that may become standalone diagnostic devices…paid for by customers Reg Cleared Fat Fibrosis (FDA,MDR,TGA) LIC Revenue MRE VAT/SAT Other Investigational Time More endpoints / devices more rapidly Early commercialisation
Slide 13: Better customer integration, AI and improved systems
We have improved productivity and customer connectivity though investment in technology Better customer Artificial Improved integration Intelligence Systems Resonance Bridge Automation Efficiencies Better integrated with customers Increase capacity of the business Focus on efficiencies across direct
Slide 14: Resonance Bridge integrates products and improves cyber security
Resonance Bridge both natively integrates our products in customer workflows and significantly improves cyber security Benefits Resonance Bridge Automation • Improved cybersecurity • Immediacy • Native workflow integration – no work for customer • New tech stack and bridge allow; • Multiple analysis
Slide 15: Our deep domain expertise and reputation resonates with customers
Our deep domain expertise and reputation resonates with customers… Clinical Trial Deep Expertise in Strong Quality & Expertise Therapeutic Areas & Regulatory Capability & Reputation MRI • Client roster of blue-chip • Haematology • Global regulatory cleared global pharma • Hepatology products; • Look
Slide 16: Customers largely in the northern hemisphere on later stage global trials
Our global pharma and hospital customers are largely in the northern hemisphere working on later stage global clinical trials % of FY25 Revenue NORTH AMERICA 19% EMEA 56% ASIA PAC 25%
Slide 17: Growth opportunities across SaMD, TrialsWest and Resonance Clinical
Our clinical trial customers are global pharma. Trial protocols are standardized across each trial globally and are run according to GCP. These factors make Resonances’ expansion geographically agnostic Growth Opportunities SaMD Business ✓ More devices to existing & new customers ✓ Sale of AI device
Slide 18: Growth imperatives – Project 50:28
Growth imperatives – Project 50:28. In FY24 we had an ambition to achieve $50m in annual revenue by the end of FY28 TrialsWest, 33% SaMD, 34% Resonance Clinical, 33% • Automation • Greenfield Expansion (4-5 in WA, • New Customers • Fibrosis + new then Australia) Other strategic • New therapeutic are
Slide 19: Financial Overview
Resonance Health Financial Overview Benjamin Carruthers CFO 17
Slide 20: Central imaging, CRO and investigator site services
Resonance Health specialises in providing central imaging (SaMD) services, contract research organisation (CRO) services and investigator site (TrialsWest) services to global pharmaceutical and biotechnology companies, hospitals and radiology centres. “We only enter businesses where we have deep dom
Slide 21: Financial imperatives
Financial imperatives Entrenched profitability ✓ Build revenue base ✓ Disciplined cost control ✓ Business transformation providing strong financial base with significant growth potential Generate strong FCF ✓ Operating cash flow positive ✓ Low sustaining capex ✓ Accretive expansion capex & acquisiti
Slide 22: Business transformation well underway
Business transformation well underway *Normalised Operating EBITDA = Statutory Net Loss – (R&D tax Credit, FX gain, Share based payments) + (Depreciation, amortisation & net interest expense, one-off restructuring & transaction costs, and unearned income).
Slide 23: Strength of the business model
Strength of the business model Key focus is on creating value for clients and Resonance Health ✓ Leveraging deep experience across the clinical trial ecosystem ✓ Execution capability and ability to add value to trial design and roll out ✓ Greater share of wallet ✓ Creation of new products for specif
Slide 24: Being growth ready
Being growth ready The business is actively preparing for its next growth phase ✓ Established overhead base ✓ Experienced management team ✓ Clear business strategy with three complementary business segments ✓ Deep experience across SaMD medical imaging products and clinical trials ✓ Ability to acces
Slide 25: Guidance FY26
Guidance FY26 FY26 Guidance $M Revenue 17 Underlying EBITDA 2 ✓ Target EBITDA margins over coming periods ~25% as operational leverage drives margin expansion. ✓ Operationally cashflow positive. ✓ Significant potential upside from conservative assumptions. Assumptions: ✓ No new TrialsWest sites duri
Slide 26: TrialsWest Overview
Resonance Health TrialsWest Overview Dr Helen Pavitt VP, Clinical Trials 24
Slide 27: Senior Leadership Team
Senior Leadership Team Dr Helen Pavitt Prof Peter Bremner Dr Kenneth Macpherson Head of Clinical Trials Medical Director Clinical Research Physician Michelle Davies Michaela Peck Bibin George Clinical Trial Manager – Spearwood Clinical Trial Manager – Osborne Park Clinical Trial Manager – Mandurah O
Slide 28: TrialsWest Clinic Locations
TrialsWest Clinic Locations
Slide 29: What does a Clinical Trial Investigator Site Do?
What does a Clinical Trial Investigator Site Do?
Slide 30: Therapeutic Area Expertise
Therapeutic Area Expertise VACCINES CARDIOLOGY Meningococcal, RSV, influenza, pneumococcal Heart Failure Prevention RESPIRATORY ENT Asthma, COPD, ILD, bronchiectasis, chronic cough Chronic Rhinosinusitis, Nasal Polyposis GASTROENTEROLOGY/HEPATOLOGY HAEMATOLOGY Iron-related liver disease, Hepatitis C
Slide 31: Partnerships with Global Pharma and CROs
Partnerships with Global Pharma and CROs
Slide 32: TrialsWest Revenue Growth
TrialsWest Revenue Growth $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $ FY23 FY24 FY25 FY26 Mtrialswest ‘Resonance Health Company
Slide 33: Resonance Clinical Overview
Resonance Health Resonance Clinical Overview Dr Helen Pavitt VP, Clinical Trials 31
Slide 34: Senior Leadership Team
Senior Leadership Team Dr Helen Pavitt Michelle Summerill Jessica Choi VP, Clinical Trials Clinical Operations Manager Clinical Project Manager Other Staff Internal Clinical Research Associates, Clinical Research Administrators, Quality Manager, Quality Associate. Contractors Biostatisticians, Regul
Slide 35: What does a Contract Research Organisation (CRO) Do?
What does a Contract Research Organisation (CRO) Do?
Slide 36: Current Projects & Future Opportunities
Current Projects & Future Opportunities SF-CSP-001 (MASLD): Commenced Dec 2023 Completed Mar 2025 SF-CSP-002 (At risk-MASH): Commenced Dec 2024 Due to complete Jul 2026
Slide 37: Resonance Clinical Revenue Growth
Resonance Clinical Revenue Growth
Slide 38: Rapid growth in therapeutic areas beyond oncology
While oncology dominates the global trial landscape, there is rapid growth in other therapeutic areas
Slide 39: Rapid growth in metabolic diseases driven by GLP-1-like drugs
In the metabolic diseases space rapid growth is being driven by GLP-1-like drugs
Slide 40: Growth in GLP-1 like drug trials and Resonance's expertise
Both the number of trials and the size of the market for GLP-1 like drug trials is seeing rapid growth. Resonance’s deep expertise in liver and related metabolic / obesity areas is sort after in this space across all 3 businesses
Slide 41: Disclaimer Forward Looking Statements
Disclaimer Forward Looking Statements This presentation has been prepared by Resonance Health Ltd (“Resonance Health” or “Company”) and may contain forward-looking statements that are based on current expectations and beliefs and are subject to numerous factors and uncertainties that could cause act
Slide 42: Contact Us
Contact Us info@resonancehealth.com +61 8 9286 5300 resonancehealth.com resonance-health-ltd/