Carerx Corporation · TSX:CRRX
Carerx — Q4 2021 Earnings Presentation
16 slides from Carerx's earnings presentation, Mar 18, 2022
Slide 1: Q4 2021 Earnings Call
Q4 2021 Earnings Call March 18, 2022
Slide 2: Cautionary Statements
Cautionary Statements Forward Looking Statements Certain of the statements contained in this presentation are "forward looking information within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, business strategy, plans and other
Slide 3: David Murphy, President & Chief Executive Officer
David Murphy President & Chief Executive Officer 3
Slide 4: Continued strong growth in revenue and adjusted EBITDA
Q4 2021 Continued strong growth in revenue and adjusted EBITDA Acquisitions continue to contribute in line with expectations Integration of MPGL LTC Pharmacy acquisition on track Contribution from organic growth 4
Slide 5: Q4 2021 Financial Highlights
Q4 2021 Financial Highlights From Continuing Operations • Average beds serviced of 96,310: +97% vs Q4/20 (+/- compared to Q4 2020) • Growth driven primarily by acquisitions: • SmartMeds and Rexall acquisitions (completed Q2/21) (millions) Q4 2021 • Medical Pharmacies LTC Business acquisition (comple
Slide 6: Successful Execution of Our Growth Strategy
Successful Execution of Our Growth Strategy Bed Count at Year End Revenue Adj. EBITDA (from continuing ops) (from continuing ops) (000s) ($ millions) ($ millions) 262.6 22.9 96 162.2 12.8 48 118.9 124.6 9.4 30 31 3.7 2.1 2018 2019 2020 2021 FY '18 FY '19 FY '20 FY '21 FY '18 FY '19 FY '20 FY '21 Ser
Slide 7: Medical Pharmacies: Our Largest & Most Significant Acquisition to Date
Medical Pharmacies: Our Largest & Most Significant • 5 sites consolidated by end of 2021 Acquisition to Date • 5 additional sites expected to be August 23, 2021: Completed Acquisition of LTC consolidated in 2022 Pharmacy Division of Medical Pharmacies • Cost savings synergies of $0.2 M in • Added ~3
Slide 8: Other Q4 2021 Highlights
Other Q4 2021 Highlights Deploying new state-of-the-art medication packaging technology at first high-volume fulfillment centre • Signed lease to build in Burlington, ON • New site to be first pharmacy in Canada to use BD RowaTM Dose medication packaging • BD RowaTM Dose will optimize high-volume di
Slide 9: Highlights Subsequent to Quarter End
Highlights Subsequent to Quarter End Secured long-term contract extensions with two largest customers • Customers represent aggregate of approximately 15,000 beds • Beds will be under contract for an average of 5.5 years from end of 2021 Expanded the scope and product offering of its medical supplie
Slide 10: Andrew Mok, Chief Financial Officer
Andrew Mok Chief Financial Officer 10
Slide 11: Q4 2021 Financial Results | Revenue
Q4 2021 Financial Results | Revenue (millions) • 109% year-over-year growth • Growth driven by SmartMeds, 110 $96.9 Rexall and Medical Pharmacies LTC 100 90 Business acquisitions 80 • All acquisitions contributed in line 70 with expectations 60 $46.4 • Organic growth from new 50 contracts that were
Slide 12: Q4 2021 Financial Results | Adjusted EBITDA
Q4 2021 Financial Results | Adjusted EBITDA • 86% year-over-year growth (millions) • Growth driven by • Acquisitions completed in 2021 9 • $0.2 M of cost savings synergies from MPGL 8 $7.6 LTC Pharmacy Business acquisition 7 • >3,000 beds from new contracts onboarded in third and fourth quarters 6 •
Slide 13: Balance Sheet
Balance Sheet (millions except ratio) At Dec. 31/21 • Repayment of $4 M vendor take back note • Cash flow from operations for full year Cash $35.6 increased to $7.3 M from $0.2 M in 2021 Net Debt1 $57.6 Net Debt to Adjusted EBITDA2 1.9x 13 1. Debt = borrowings (principal) not including November 2019
Slide 14: David Murphy, President & Chief Executive Officer
David Murphy President & Chief Executive Officer 14
Slide 15: A New Baseline for Continued Growth
A New Baseline for >96,0001 beds 23% Continued Growth • Positioned to benefit from increased scale and enhanced capabilities 77% • Experiencing accelerated organic growth • Significantly strengthened position as a Market Opportunity via natural consolidator in a highly fragmented Organic Growth & Ac
Slide 16: Questions
Questions Visit our website at www.carerx.ca | Follow @CareRx on Twitter