Abingdon Health Plc · LSE:ABDX
Abingdon Health — FY2023 Earnings Presentation
11 slides from Abingdon Health's earnings presentation, October 2023
Slide 1: Final Results
Final Results Chris Yates, CEO October 2023
Slide 2: Contents
Contents 1. Overview 2. Investment Case 3. Focused Strategy 4. Final Results Highlights 5. Current Activity & Outlook 6. Summary 7. Q&A IMPROVING LIFE BY MAKING R APID TESTING ACCESSIBLE TO ALL 2
Slide 3: Overview
Overview WHO WE ARE WHAT WE DO • Founded in 2008, headquartered in York, UK • Dedicated lateral flow CRO & CDMO PRODUCTS • Dedicated lateral flow CRO & CDMO • Offering a range of additional services: regulatory, analytical laboratory service & clinical trial support, • 82 employees packaging design
Slide 4: Investment Case
Investment Case ● Focused on the lateral flow market which is large and growing: o $11.7bn market forecast (2032), 150% increase compared to 20221 o COVID-19 widespread use of lateral flow has reduced barriers to adoption o Technology is simple, cost-effective, easy-to-use o Supports decentralisatio
Slide 5: Focused Strategy
Focused Strategy Lateral Broaden and Self-testing Flow CRO & deepen service lateral flow sales Expand range CDMO offering & distribution and reach 1 2 3 4 • Lateral flow experts • Grow customer base • Range of 12 self-tests under the • Abingdon Simply Test will be • CRO & CDMO service Abingdon Simpl
Slide 6: Final results for the year ended June 2023: Operational Highlights
Final results for the year ended 30 June 2023 Operational Highlights Business reset in summer 2022 and refocused on CRO & CDMO model: significant growth in customer base over financial year Launch of Abingdon Simply Test self-test range in July 2022; and first CDMO customer self-test, Salistick™, in
Slide 7: Final results for the year ended June 2023: Financial Highlights
Final results for the year ended 30 June 2023 Financial Highlights Revenue growth YoY of 43% to £4.0m • Excluding COVID-19 revenues, revenue growth of 126% • Revenue in H2 FY23: £2.9m; 2.5x that of H1 FY23 Adjusted EBITDA Loss £2.9m (2022: £10.0m EBITDA Loss) • A significant decrease vs prior year N
Slide 8: Current Activity & Outlook
Current Activity & Outlook ● Strategic focus on building CRO/CDMO customer base and expanding AST range and reach ● Seeing good momentum across both divisions in FY24 ● Number of additional CRO/CDMO contract wins in FY24, with customer wins in FY23 creating platform for growth ● Growing development
Slide 9: Summary
Summary 1 Dedicated lateral flow CRO/CDMO, recognised LFT knowledge leader 2 Lateral flow market large & growing driven by reduced barriers to adoption post-COVID-19 3 Paradigm shift in testing away from lab and into home, clinic, farm or field… 4 CRO/CDMO: 155% rev. growth YoY*; FY24 focus increase
Slide 10: Q&A
Q&A IMPROVING LIFE BY MAKING R APID TESTING ACCESSIBLE TO ALL
Slide 11: Disclaimer
Disclaimer This presentation is being made only to and directed at: (a) persons who have professional experience in matters relating to investments falling within Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”); or (b) high net worth entities, a