Assure — Q2 2022 Earnings Presentation
14 slides from Assure's earnings presentation, Aug 15, 2022
Slide 1: Second Quarter 2022 Results
Second Quarter 2022 ResultsAugust 15, 2022 NASDAQ: IONM
Slide 2: Cautionary Note regarding Forward-Looking Statements
Cautionary Note regarding Forward‐Looking StatementsThis presentation may contain “forward‐looking statements” within the meaning of applicable securities laws. Forward‐looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "cou
Slide 3: 2Q'22 Earnings Call Agenda
Assure Neuromonitoring | 3 2Q’22 Earnings Call Agenda•Recent corporate developments•Revenue cycle management •Actions to improve profitability•Cash receipts•2Q’22 financial summary•Accounts receivable trends•2H’22 expectations
Slide 4: Recent Corporate Developments
Assure Neuromonitoring | 4 Recent Corporate Developments•Managed case volume increased by approximately 36% YoY in 2Q’22 and forecasting 40%+ growth in FY’22 vs FY’21 •Company anticipates strong revenue growth and achieving positive Adjusted EBITDA in 2H’22•Cost cuts enabling Company to realize $4.5
Slide 5: Revenue Cycle Management Update
Assure Neuromonitoring | 5 Revenue Cycle Management Update•Reserved accounts receivable in 2Q’22 was the result of an accounting charge made against aged receivables; not an accrual adjustment based on collections•In the go‐forward, risk from aged receivables has been significantly reduced given the
Slide 6: Streamlining Operations to Drive Cash Flow and Profitability
Assure Neuromonitoring | 6 Streamlining Operations to Drive Cash Flow and Profitability•Cost reductions enabling the Company to realize $4.5m of savings on an annualized basis•These measures included trimming the workforce, salary reductions for the management team, withdrawing from certain low perf
Slide 7: Cash Receipts
Assure Neuromonitoring | 7 Cash Receipts•Assure is collecting more than 65% on receivables from the first 6 months after they were issued and more than 85% in first 12 months after they were issued for Company’s 100% owned professional and technical entities (both record amounts) $‐ $1,000,000 $2,00
Slide 8: 2Q'22 Financial Summary
2Q’22 Financial Summary 5,8004,30001,000 2,000 3,000 4,000 5,000 6,000 7,000 2Q'22 2Q'21Managed Cases* $9.2$7.3$0$2$4$6$8$10 2Q'22 2Q'21GrossRevenue ($5.9)($0.9)($6.0)($5.0)($4.0) ($3.0)($2.0)($1.0)$0.0 2Q'22 2Q'21Adj. EBITDA**($m)($m)** See reconciliations of non‐GAAP results in the Appendix and th
Slide 9: Accounts Receivable Days Sales Outstanding
Assure Neuromonitoring | 9 Accounts Receivable Days Sales Outstanding PeriodA/R Days Sales OutstandingFY’2020590FY’20213481Q’223322Q’22311
Slide 10: Accounts Receivable Aging
Assure Neuromonitoring | 10 Accounts Receivable Aging 68%83%7%9%10%5%8%3%7%0%0%10% 20% 30% 40%50%60% 70% 80% 90%1Q'222Q'22Accounts Receivable Reserve by Quarter 12 months or less 12‐15 months 15‐18 months 18‐21 months 21‐24 monthsA/R Reserve
Slide 11: 2H'22 Forecast
2H’22 Forecast 1H’222H’22*CommentManaged Cases10,900>14,000Assure continues to forecast 25,000+ total managed cases in 2022, a 40% increase from 2021Gross Revenue$18.3m>$22mExpected to increase due to seasonally stronger revenue mix, growing managed case volume + GPO new biz upsideAccounts Receivabl
Slide 12: Q&A
Q&AAssure Holdings7887 E. Belleview Ave., Suite 500, Englewood, CO(720) 617‐2526www.assureneuromonitoring.com Company ContactJohn FarlingerExecutive Chairman and CEOJohn.Farlinger@assureiom.com Investor RelationsScott KozakDirector, Investor and Media RelationsScott.Kozak@assureiom.com Assure Neurom
Slide 13: 2Q'22 Earnings Call - Appendix
2Q’22 Earnings Call ‐AppendixAugust 15, 2022 NASDAQ: IONM
Slide 14: Non-GAAP Financial Measures Reconciliation
Non‐GAAP Financial Measures Reconciliation Assure Neuromonitoring | 14 20212022(unaudited)(unaudited)(unaudited)(unaudited)EBITDA Net Income (loss)(4,726)$ (1,309)$ (7,185)$ (2,540)$ Interest expense439 218 846 236 Accretion expense 171 120 341 215 Income tax (2,303) (474) (2,640) (901) Depreciation