Nanosonics Limited · ASX:NAN
Nanosonics — H1 FY2025 Earnings Presentation
30 slides from Nanosonics's earnings presentation, Feb 20, 2025
Slide 1: 2025 Half Year Results Investor Presentation
For personal use only INVESTOR PRESENTATION Michael Kavanagh Jason Burriss 2025 HALF YEAR RESULTS CEO and President CFO
Slide 2: Disclaimer
Disclaimer This presentation is intended to provide a general outline only and is not No representation, warranty or assurance (express or implied) is given intended to be a definitive statement on the subject matter covered in it. or made in relation to any forward looking statement or estimate by
Slide 3: Contents
Contents 1 Mission / aspiration & For personal use only Strategic growth agenda 2 Key highlights 3 FY25 H1 financial results 4 Regional reviews 5 CORIS update 6 Business outlook 7 Appendix Nanosonics Limited | Half Year Results 2025 | 3
Slide 4: Our Mission
Our Mission We improve the safety of patients, clinics, their staff and For personal use only the environment by transforming the way infection prevention practices are understood and conducted and introducing innovative technologies that deliver improved standards of care. Our Aspiration Transform
Slide 5: Our Strategic Growth Agenda
Our Strategic Growth Agenda For personal use only By establishing new standards of care and category leadership Leading ultrasound reprocessing Transforming endoscope reprocessing R&D, strategic partnerships and M&A VALUE Growing, optimising and protecting our customer base International expansion C
Slide 6: Key highlights
Key highlights Revenue For personal use only Michael Kavanagh • Total revenue of $93.6 million, up 18% on prior corresponding period (pcp), 18% in constant currency (cc)2 • Capital revenue $24.4 million, up 11% on pcp CEO and President • Consumables/service revenue up 20% to $69.2 million Total Capi
Slide 7: FY25 H1 Financial highlights
FY25 H1 Financial highlights Focussed execution delivering good start to the financial year and a solid foundation to build on for the 2nd half For personal use only TOTAL REVENUE CAPITAL REVENUE CONSUMABLES & GROSS PROFIT OPERATING CONSOLIDATED SERVICE REVENUE MARGIN EXPENSES PROFIT BEFORE RATE TAX
Slide 8: Global unit highlights
Global unit highlights Total units in line with internal forecast phasing with pipeline leading For personal use only to 2nd half growth expectations over H1 GLOBAL NEW UPGRADES TOTAL UNITS INSTALLED BASE INSTALLED BASE FY25 H1 35,840 units 1,050 units 680 units 1,730 units VS PCP 3% 5% 10% 1% in th
Slide 9: Customer Value Expansion
Customer Value Expansion Focus on existing customer value expansion leads to 20% growth in annuity revenue For personal use only GLOBAL CONSUMABLES & FY25 H1 INSTALLED BASE SERVICE REVENUE VS PCP 35,840 units $69.2M 3% 20% in the last 6 months 7% in the last 12 months Nanosonics Limited | Half Year
Slide 10: FY25 H1 financial results
For personal use only FY25 H1 financial results Nanosonics Limited | Half Year Results 2025 | 10
Slide 11: Global revenue of $93.6million
Global revenue of $93.6million Good start to FY25 with revenue growth up 18% with capital revenue up 11% and consumables/service up 20% For personal use only Total revenue $93.6M Capital revenue $24.4M Consumables/service revenue $69.2M $170.0m $166.0m $121.8m $111.8m $120.3m $84.4m $90.4m $103.1m $
Slide 12: Gross profit margin
Gross profit margin Return to gross profit margin > 78% reflects a successful inventory management For personal use only program, return to normal production volumes in H1, and the product sales mix FY25 H1 gross profit margin rate 78.5% 78.9% 78.5% 79.7% 76.3% 78.5% FY23 H1 FY23 H2 FY24 H1 FY24 H2
Slide 13: Profit and loss summary
Profit and loss summary Growth in operating leverage with PBT as a percentage of revenue growing from 6% to 12% For personal use only $ millions FY25 H1 FY24 H1 Change % Capital revenue 24.4 21.9 11% • Revenue of $93.6 million, up 18% on pcp. Consumable/service revenue 69.2 57.7 20% Total revenu
Slide 14: Operating expenses
Operating expenses Disciplined cost control across four core investment areas For personal use only Core Investment areas $125.6m $114.2m $90.5m Investment in established Investment in developing $70.8m markets drives and funds the markets underpins growth $64.8m operations of the business today for
Slide 15: Trophon only business
Trophon only business1 Positive growth in operating leverage with PBT as a percentage of revenue growing from 23% to 27% For personal use only $ millions FY25 H1 FY24 H1 Change % • Profit before tax (excluding CORIS investments) was Capital revenue 24.4 21.9 11% approximately $25.6 million1, a 41%
Slide 16: Cash and cash equivalents
Cash and cash equivalents Cash flow of $13.8m for the period with cash and cash equivalents growing to $144.5m at 31 December 2024 and no debt For personal use only Cash provides flexible capital allocation for growth. H1 Cash flow Cash and cash Infrastructure development Investments in digital stra
Slide 17: FY25 H1 Regional Reviews
For personal use only DRAFT FY25 H1 Regional Reviews Nanosonics Limited | Half Year Results 2025 | 17
Slide 18: North America Growth Strategy
North America Growth Strategy Core pillars to the North America growth strategy For personal use only Customer value Customer value New installed Upgrade adoption CORIS market expansion - expansion - base growth acceleration introduction consumables service Continue growth in Accelerate upgrade Expa
Slide 19: North America H1 performance
North America H1 performance Revenue growth of 17% to $84.7M with annuity revenue growing faster than capital revenue. 1,550 total units installed For personal use only Total revenue Capital revenue Consumables/service revenue $150.4m $154.2m $109.2m $106.9m $101.4m $89.2m $76.2m $81.9m $84.7m H2 $5
Slide 20: NA Consumables Manufacturing
NA Consumables Manufacturing For personal use only • New manufacturing site for both trophon and CORIS consumables being established in our existing Indianapolis facility. • Completion and registration expected in H2. • Range of benefits expected to be delivered including margin improvements over ti
Slide 21: EMEA Growth Strategy
EMEA Growth Strategy Core pillars to the EMEA growth strategy For personal use only Leverage existing Focus on core Customer value Customer value CORIS market infrastructure with markets for new expansion - expansion - introduction complementary 3rd installed consumables service party products base
Slide 22: EMEA H1 performance
EMEA H1 performance Revenue growth of 37% to $5.9M. H1 installations slower than anticipated. Expectation for growth in new installed base in H2 over H1. For personal use only Total revenue Capital revenue Consumables/service revenue $10.1m $8.1m $8.3m $6.2m $7.5m $5.9m $7.2m $5.8m $1.9m $4.8m $4.7m
Slide 23: APAC Growth Strategy
APAC Growth Strategy Core pillars to the APAC growth strategy For personal use only Continue to lead in Customer value Customer value ANZ market and CORIS market expansion - expansion - strengthen introduction consumables service fundamentals in Japan Continue to grow new Expand Expand service Launc
Slide 24: APAC H1 performance
APAC H1 performance Revenue of $3.0M broadly in line with pcp. High market penetration in ANZ with focus on annuity revenue growth which was up 14% vs pcp. For personal use only Focus on Japan for market expansion. Total revenue Capital revenue Consumables/service revenue $7.5m $6.7m $5.9m $5.8m $4.
Slide 25: Transforming endoscope reprocessing
For personal use only DRAFT Transforming endoscope reprocessing Nanosonics Limited | Half Year Results 2025 | 25
Slide 26: CORIS – under FDA Review
CORIS – under FDA Review De Novo Regulatory Pathway For personal use only The CORIS technology continues to proceed through the FDA’s de-novo review process with answers to the FDA questions received to date having been submitted. • The Company continues its preparations for supply chain and manufac
Slide 27: FY25 business outlook
For personal use only FY25 business outlook Nanosonics Limited | Half Year Results 2025 | 27
Slide 28: Business outlook for FY25
Business outlook for FY25 In view of the H1 FY25 results, the Company updates its FY25 outlook ranges as follows: For personal use only PREVIOUS OUTLOOK REVISED 1 OUTLOOK 1 1 Revenue growth 8% - 12% 11% - 14% 1 1 Gross margin rate 77% - 79% 78% - 79% 1 1 Operating expenses growth 6% - 10% 8% - 10% T
Slide 29: Appendix
For personal use only DRAFT APPENDIX Nanosonics Limited | Half Year Results 2025 | 29
Slide 30: Income tax
Income tax Effective income tax for the period was For personal use only 10.5%. $ millions 31-Dec-24 31-Dec-23 Income tax expense / (benefit) 1.1 (1.3) Deferred tax asset consists of: Components of Net Deferred Tax Asset 31-Dec-24 30-Jun-24 • $0.3m tax losses relate to the recognised Tax losses 0.3