Lifecore Biomedical, Inc. · NASDAQ:LFCR
Lifecore Biomedical — Investor Presentation (January 2025)
27 slides from Lifecore Biomedical's investor presentation, Jan 2, 2025
Slide 1: Lifecore Biomedical
<> Lifecore BIOMEDICAL January 2025
Slide 2: Important Information Regarding Forward-Looking Statements
2 Important Information Regarding Forward-Looking Statements This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements, among other things, relate to the Company’s gro
Slide 3: Non-GAAP Financial Measures
3 Non-GAAP Financial Measures This presentation contains non-GAAP financial information including Adjusted EBITDA. The Company has included a reconciliation of Adjusted EBITDA to Net (loss) income, the most directly comparable financial measure calculated in accordance with GAAP. We define Adjusted
Slide 4: Key Takeaways
4 Key Takeaways CDMO Industry Leader with Broad Capabilities in Injectables Aggressive Growth Strategy Targeting 12%+ Revenue CAGR and Adj. EBITDA margins of 25%+ in Mid-Term High-Growth Market Expected to Increase by 100% by 2030 High-Value Pipeline Including Multiple Programs Expected to Commercia
Slide 5: Our Journey: Transformation to Standalone CDMO (Then)
5 Our Journey: Transformation to Standalone CDMO Low-Margin Commodity Agricultural Businesses THEN:
Slide 6: Our Journey: Transformation to Standalone CDMO (Now)
6 Our Journey: Transformation to Standalone CDMO NOW: Best-in-class technical capabilities Strengthened financial position Doubled revenue-generating capacity Leadership transition complete Nasdaq / regulatory compliance Enhanced business development resources & strategy
Slide 7: Lifecore at a Glance
7 Lifecore at a Glance 450 Employees Inclusive, Performance- Driven Culture Fully integrated CDMO offering development and fill/finish of sterile injectable pharmaceuticals Projected Revenues* (FY2025E) $126.5M - $130M Projected Adj. EBITDA* (FY2025E) $19M - $21M Leader in Sodium Hyaluronate (HA) Gl
Slide 8: Campus Overview
8 Campus Overview Site 1 – HQ (Lyman Blvd.) 150,000 sqft Site 2 (Lakeview Drive) 78,000 sqft Site 3 (Shelby Court) 20,000 sqft Manufacturing Operations • Sodium hyaluronate manufacturing (fermentation) • Drug and medical device formulation and filling • Secondary packaging • Microbiology and analyti
Slide 9: We Serve Large and Growing Markets with Strong Tailwinds
9 We Serve Large and Growing Markets with Strong Tailwinds Global Injectable CDMO $10B Market1 +10% CAGR Biosecure Act Hyaluronic Acid $9.8B Market2 +7% CAGR Global CDMO $120B Market1 +8% CAGR 50%+ of annual US drug approvals are injectables4 GLP-1 $47B Market3 Expected to Increase 10X 1. Jefferies
Slide 10: Executing Three-Pronged Growth Strategy
Executing Three-Pronged Growth Strategy Maximizing Existing Customer Business Advancing Programs Towards Commercialization Driving New Business 10
Slide 11: Mid-Term and Long-Term Revenue Outlook
11 FOCUSED ON MAXIMIZING UTILIZATION OF AVAILABLE CAPACITY Mid-Term and Long-Term Revenue Outlook $126.5-$130M $178M-$205M $300M1 Expansion of existing commercial contracts Portfolio Commercialization New Business Revenue growth driven by maximization of existing customer base, portfolio commerciali
Slide 12: Expanding Existing Customer Relationships
12 Expanding Existing Customer Relationships Know our customers Establish trust and reliability Establish Lifecore as a partner-of- choice for the future CDMO needs of existing customers Anticipate customers’ growing needs Efficient onboarding of new programs Consistent engagement Focus on commercia
Slide 13: Fill & Finish: Pathway to Doubling Commercial Demand
13 Fill & Finish: Pathway to Doubling Commercial Demand • Significant inflection point expected from minimum volumes beginning in 2027 • Potential upside to contractual minimums For illustrative purposes only, timing, estimates, assumptions and the actual capacity utilization may vary significantly,
Slide 14: HA Fermentation: Strong & Steady Demand
14 HA Fermentation: Strong & Steady Demand LIFECORE’S PREMIUM SODIUM HYALURONATE: doses sold worldwide 150 million1 • Ophthalmology • Orthopedics • Drug delivery • Biomaterials • Aesthetics • Oncology • Pain management Proven Applications Worldwide: M A X I M I Z I N G E X I S T I N G C U S T O M E
Slide 15: Strong, Diverse Pipeline
15 Strong, Diverse Pipeline • Impactful commercial revenue potential over the mid-term • Strong development project pipeline: vials, syringes, cartridges • Diversification across broad customer base Total Pipeline Represents $100M - $200M1 in Incremental Commercial Revenue Potential 1. Assumes full
Slide 16: Late-Stage Development Portfolio: Impactful Revenue Potential
16 Late-Stage Development Portfolio: Impactful Revenue Potential1 Customer Product Type 2025 2026 2027 2028 Specialty Pharma Med Device Large Pharma Med Device Specialty Pharma NDA* Specialty Pharma Med Device Specialty Pharma NDA Specialty Pharma NDA Specialty Pharma Med Device Specialty Pharma Med
Slide 17: Attracting New High-Value Business
17 Attracting New High-Value Business Installation of 5-head filler Strategically expand target market Expanding business development & brand awareness D R I V I N G N E W B U S I N E S S
Slide 18: Strategically Expand Target Markets
18 LO W CO ST – CO M M O DI TY GE NE RI CS HIGH POTENT – CYTO TO XIC /HORM ONES Strategically Expand Target Markets • Expanding beyond high-viscosity legacy • Attractive therapeutic areas • NCEs in Phase 2, Phase 3 • Unique, injectable delivery systems • Ophthalmic and orthopedic medical devices • C
Slide 19: Expanded Targets Lead to Growing Pipeline
19 Expanded Targets Lead to Growing Pipeline • Strong, diverse and growing universe of 50+ potential future business opportunities1 • Mix of both large and specialty pharma • Subset of opportunities are HA-related, representing a broadening of our pipeline • Significant number of late-stage developm
Slide 20: New Technology Opens Door to New Business
20 New Technology Opens Door to New Business State-of-the-Art, 5-Head Isolator Filler • Full isolator technology, state-of-the-art containment • Significantly expanded available capacity • Broad capability: vials, syringes & cartridges • Strengthens compliance Approximately 100% increase in annual p
Slide 21: Sustaining Objectives Support Value Creation
Sustaining Objectives Support Value Creation 21 Commitment to Quality Reduced Operational Expenses Performance-Driven Culture
Slide 22: Efficiency and Revenue Growth Drive Margin Improvement
22 ~15% 25%+ 2025 Mid-Term Adj. EBITDA Margin Adj. EBITDA Margin Reduction in operating expenses Expansion of existing commercial contracts Portfolio commercialization New business Operating leverage Efficiency and Revenue Growth Drive Margin Improvement For illustrative purposes only, timing, estim
Slide 23: 40+ Years of Strong Track Record with Global Regulatory Bodies
23 40+ Years of Strong Track Record with Global Regulatory Bodies World-class quality system Ability to support multiple geographies
Slide 24: Experienced Management Team with Proven Ability to Execute
24 Experienced Management Team with Proven Ability to Execute Paul Josephs President & Chief Executive Officer Ryan Lake Chief Financial Officer Thomas Guldager VP of Operations Jackie Klecker EVP Quality and Development Services Darren Hieber SVP of Corporate Development & Partnerships Brikkelle Th
Slide 25: Financial Highlights
25 Financial Highlights Revenue and Adjusted EBITDA were strong and in line with fiscal year guidance Second quarter fiscal 2025 financial results • Revenues: $32.6 million, 8% increase from Q2 fiscal 2024 • Net loss: $6.6 million • Adjusted EBITDA: $6.5 million, up $1.1 million from Q2 fiscal 2024
Slide 26: Reconciliation of Non-GAAP Financial Measures
26 Reconciliation of Non-GAAP Financial Measures To supplement the company’s financial results determined by U.S. generally accepted accounting principles (“GAAP”), the company has disclosed in the table below the following non-GAAP information about Adjusted EBITDA. 1 Adjusted EBITDA is net (loss)
Slide 27: Thank you!
Thank you!
Lifecore Biomedical, Inc. \de\ — Investor Presentation (January 2025) on 6ix