Slide 1: Earnings Call – Q3 2021
Earnings Call – Q3 2021 November 4, 2021
Slide 2: Forward-looking statements disclaimer
This presentation has been prepared solely for use at this meeting and is intended for investors and analysts only. The material is given in conjunction with an oral presentation and should not be taken out of context. Unless the context requires otherwise, references to “ViewRay,” “the company,” “w
Slide 3: Our Mission: Treat and prove what others can't
Our Mission: Treat and prove what others can’t. installed systems globally1 46 16 k patients treated2 ~ disease sites treated1 65> Thousands of patients with clinically reported outcomes ― > 60 investigator led trials.1
Slide 4: What We Achieved: Q3 2021 financial results
4©2021 ViewRay Technologies, Inc. All rights reserved. What We Achieved Q3 2021 financial results Q3 2021 Q3 2020 Change MRIdian orders 7 4 75% MRIdian backlog $295M $239M 24% Revenue $19M $10M 90% Gross margin 10% (11%) 2100bps Operating expense $25M $24M 4% Cash usage $17M $16M 6%
Slide 5: Customers' Definition of Clinical Success
5©2021 ViewRay Technologies, Inc. All rights reserved. Customers’ Definition of Clinical Success The MRIdian 51 Ablative dose 1 Tight margins 2 No fiducials 3 5 or fewer fractions 4 No to low grade 3+ toxicity 5 Among alternatives in the clinical landscape, we have found MRIdian’s evidence fits this
Slide 6: Recent Clinical Data Event: pancreatic cancer survival
Michael Chuong, MD, FACRO Vice Chair, Medical Director, Clinical Research Director, Lead GI Radiation Oncologist - Dept of Radiation Oncology at Miami Cancer Institute Recent Clinical Data Event 2-year overall survival among patients with inoperable pancreatic cancer1 ©2021 ViewRay Technologies, Inc
Slide 7: Recent Clinical Data Event: evolution of prostate treatment
Himanshu Nagar, MD Assistant Professor, Department of Radiation Oncology at Weill Cornell Medicine NewYork-Presbyterian Recent Clinical Data Event Evolution of prostate treatment1 ©2021 ViewRay Technologies, Inc. All rights reserved. • X-ray to MRI • Real-time MRI is future • SHORTER – Post-op Prost
Slide 8: MRIdian Target: Meaningful Clinical Data
MRIdian Target Demonstrate safety of MRIdian SMART to treat what others can’t. Prostate • MIRAGE – Demonstrate the safety profile of 5fx SBRT vs CBCT • SCIMITAR & SHORTER – Safety of 5fx SBRT in post-op prostate • FORT - Redefine standard prostate treatment from 5fx to 2fx Mission: Improve patient q
Slide 9: ©2021
©2021 ViewRay Technologies, Inc. All rights reserved.
Slide 10: Newest Generation of Innovations
VISIBLY BETTER Newest Generation of Innovations Suite of workflow and clinical features •Focused on treatment time improvement •Remote Access •Brain Treatment Package • Focused on enhancing MRI Imaging IMPORTANT NOTE This technology is FDA 510(k) pending and not available for sale anywhere.
Slide 11: Recent Highlights
Clinical ASTRO Pancreas Data Innovation 510(k) Pending Status on newest generation Commercial Customers purchasing multiple systems: TJU, Baptist Health South Florida and more in the pipeline + Recent Highlights Innovation and clinical pipelines accrue customer traction
Slide 12: Financial Results Q3 2021
> VIEWRAY Financial Results Q3 2021
Slide 13: What We Achieved: Q3 2021 financial results
13©2021 ViewRay Technologies, Inc. All rights reserved. What We Achieved Q3 2021 financial results Q3 2021 Q3 2020 Change MRIdian orders 7 4 75% MRIdian backlog $295M $239M 24% Revenue $19M $10M 90% Gross margin 10% (11%) 2100bps Operating expense $25M $24M 4% Cash usage $17M $16M 6%
Slide 14: Q3 2021 Results
ASP of $5.6M Backlog increased 24% YoY - Strong customer engagement despite the challenges posed by the ongoing pandemic Revenue increased 90% - U.S. revenue: $8.9 million - Outside of U.S. revenue: $10.3 million Gross margin improved by 21% - Product gross margin 11% - Service gross margin 7% Opera
Slide 15: Nine Months Ended 9/30 Results
Nine Months Ended 9/30 Results YTD 2021 YTD 2020 % Change (in thousands, except per share data) Gross orders $118,150 $70,604 67% Backlog 295,134 238,890 24% Revenue $49,732 $38,560 29% Product 36,422 28,295 29% Service 12,954 9,909 31% Distribution rights 356 356 -- Cost of revenue 49,188 42,773 15
Slide 16: 2021 Guidance
FY 20 20 FY 20 21 GR OW TH % Revenue $63-$73M $57M 11% - 28% 2021 Guidance (1) Excludes the January 2021 equity financing ©2021 ViewRay Technologies, Inc. All rights reserved. Cash usage $58 -$68M $70M $2 - $12M reduction (1)
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Slide 18: ViewRay | Visibly Better
@ VIEWRAY |VISIBLY BETTER
Slide 19: Presentation Citations
Presentation Citations Slide 3 1. Internal and historical company data 2. 09/30/2021 MRIdian log data Slide 5 1. Ablative dose, Tight margins, No fiducials: Chuong MD, Bryant J, Mittauer KE, Hall M, Kotecha R, Alvarez D, Romaguera T, Rubens M, Adamson S, Godley A, Mishra V, Luciani G, Gutierrez AN,