Carasent Ab · OMXSTO:CARA
Carasent Ab — Q1 2025 Earnings Presentation
16 slides from Carasent Ab's earnings presentation, Apr 11, 2025
Slide 1: Interim report Q1
Interim report Q1 11 April 2025 Driving efficiency and quality in the world of care
Slide 2: Agenda
Agenda Todays presenters 1 Company update 2 Financial update Daniel Öhman Svein Martin Bjørnstad CEO CFO
Slide 3: Highlights Q1
Highlights Q1 3 Update ▪ Performance in line with plan, slightly higher costs ▪ Capital allocation strategy set ▪ Good progress in large development projects; Surgery, NLL, Volvat, Patient platforms and Webdoc X ▪ Bankruptcies for Webdoc customers put higher pressure on new sales Growth ▪ Signed not
Slide 4: AI opportunities and our approach
AI opportunities and our approach 4 As healthcare moves quickly on AI, our customers are asking for AI-driven features Clinical decision Administrative What we invest in now support support Triage Dictation ▪ Build our own AI add-ons Diagnostics Patient history retrieval ▪ Start with ambient listeni
Slide 5: We have a multipronged approach
We have a multipronged approach 5 We operate across multiple areas to create maximum value International Specialised Own integrated add-ons add-ons add-ons + Large resources + Built for the nordics + Seamless workflow for users + Large training data + Highly innovative and niched + Built for the nor
Slide 6: Opportunity for value creative M&A
Opportunity for value creative M&A 6 Certain strategic assets could add significant value Pillars of growth Key criteria ▪ Focused M&A strategy ▪ Assets with clear commercial or operational synergies ▪ Assets that will make Carasent stronger Existing New sales M&A ▪ Profitable and established custom
Slide 7: Capital allocation
Capital allocation 7 Balancing recurring share buybacks with strategic M&A opportunities Acquisitions ▪ Select value-enhancing M&A opportunities ▪ Intend to deploy our capital to drive shareholder value: ▪ Current cash balance: SEK 253m ▪ Rapidly increasing cash flow generation ▪ Recurring share buy
Slide 8: Journey Ahead
Journey Ahead 8 Strong organic • Key to deliver implementation projects and new development on time Pilots in surgery, Volvat and Medsum (ambient listening) growth • Efficient use of • Continuous efficiency gains Cost control through prioritization and diligent financial follow up resources • • Repl
Slide 9: Financial update Q1 2025
Carasent Capital Market Day 2023 Financial update Q1 2025
Slide 10: Carasent – Q1 financial highlights
Carasent – Q1 financial highlights 10 321 14% 16% Million contracted ARR Organic recurring EBITDA margin per Q1 2025 revenue growth 26% 110% 6% Contracted ARR growth Net retention rate EBITDA – capex margin (13% organic)
Slide 11: Strong YoY improvements
Strong YoY improvements 11 SEKm Q1 2025 Q1 2024 YoY growth 1▪ Webdoc growth at 15% Webdoc 1 37.9 33.1 15% Other EHR 23.9 14.5 65% 2▪ Strong revenue growth, 15% total organic Platform products 15.4 13.3 16% Consulting and other 8.0 5.2 53% revenue growth Revenue 2 85 66 29% COGS -13 -11 3▪ +10m EBITD
Slide 12: 26% contracted ARR growth
26% contracted ARR growth 12 ARR growth driven by strong upsell, continued low churn and new contracts Implemented ARR Signed, not implemented ARR +13% +26% 321 12 287 34 12 255 7 11 30 14 +5% +13% -3% 14% Q1’24 ARR Net upsale Churn New customers Q1’25 ARR M&A Q1’25 ARR (constant currency) (actual)
Slide 13: Operating Leverage
Operating Leverage 13 Significant improvements since 2023 Adj. EBITDA less Capex Q1-23 – Q1-25, SEKm Adj. EBITDA-Capex margin 5 improvement from -30% in Q1-23 to +6% in Q1-25 on the back of: 6% • Revenue growth -5 • Cost control • Refocused capex spend -18 -8% • Continued investments in future growt
Slide 14: Scalability
Scalability 14 Most of revenue growth flows directly through the P&L Q1 2024 – Q1 2025 EBITDAC improvement excluding M&A ▪ Excluding the effects of Confrere and Data-Al 9.4 ▪ Higher than expected costs 8.5 1.8 1.7 ▪ 90% of revenue increase flows directly 0.3 through the P&L +3.8 2.6 ▪ 73% conversion
Slide 15: Cash flow affected by working capital
Cash flow affected by working capital 15 SEKm Q1 2025 Q1 2024 FY 2024 FY 2023 ▪ Improvements in profitability and lower investments Revenue 85.2 66.1 275.3 245.2 ▪ Working capital headwinds with Reported EBITDA 13.9 6.3 11.6 13.4 relisting cost paid in Q1 Change in working capital -9.4 6.6 26.1 -17.
Slide 16: Q&A
Q&A