Slide 1: FY24 Full Year results
FY24 Full Year results August 2024
Slide 2: Pro Medicus (ASX:PME)
PRO MEDICUS (ASX:PME) Healthcare IT company specializing in Enterprise Imaging and Radiology Information System (RIS) software. Leading edge products, growing global presence. EU HQ/R&D Berlin GmbH U.S. HQ San Diego CA GROUP HQ Melbourne AUS OVER 40+ SOFTWARE ENGINEERS 2
Slide 3: Results FY 2024
RESULTS FY 2024 $161.5M $82.8M $112.3M 69.5% Revenue Profit Underlying EBIT up 29.3% after tax EBIT margins up 36.5% up 33.8% $155.4M $0.22 Cash Company Strong Final & debt balance dividend FF Investments free sheet Up 33.3% up 27.9%
Slide 4: FY 2024 – Results
FY 2024 – Results • Record year • Nine contract wins in North America • Completed nine cloud-based implementations • RSNA 2023 the busiest to date • Progress with other ologies and AI • Forms base for growth in FY25 and beyond 4
Slide 5: Highlights FY 2024
HIGHLIGHTS FY 2024 $24M/7 years $140M/10 years $16M/8 years $20M/8 years $9.5M/5 years $11.5M/7 years New Contract New Contract New Contract New Contract New Contract New Contract JULY SEPTEMBER OCTOBER NOVEMBER JANUARY 2024 APRIL 2024 2023 2023 2023 2023
Slide 6: Highlights FY 2024
HIGHLIGHTS FY 2024 $6.5M/5 years $9M/8 years $8.5M/5 years Continues to grow New Contract New Contract New Contract STRONGLY APRIL 2024 MAY 2024 MAY 2024 NOVEMBER - NINE CURRENT DECEMBER IMPLEMENTATIONS PIPELINE 2023 FY2024 6
Slide 7: FY 2024 Revenue Split
A Ad FY 2024 REVENUE SPLIT $180,000,000 GExam/licence revenue*** CSupport/baseline revenue*** O Professional Services*** D Archive data migration ***Recurring revenue $160,000,000 y $9,954,000 $140,000,000 2,059,000 $120,000,000 Vy $100,000,000 A $80,000,000 N $60,000,000 $6,047,000 | $40,000,000 A
Slide 8: Operating Leverage
OPERATING LEVERAGE • Highly scalable offering • No capex (HW) – SW only model • Training & Installation – charged as professional services • Highly contained cost base • Margin continues to grow as footprint increases 8
Slide 9: Operational (Transaction) Model
OPERATONAL (TRANSACTION) MODEL • Used in vast majority of US contracts • Delivered as SaaS model • Now used in RIS contracts in AUS • Model based on transaction minimums • Forward revenue > A$624M/5 years* • Upside as client examination volumes grow • Annuity style revenue stream – greater predictab
Slide 10: In Review | 2024/2025 Top Hospitals
In Review | 2024/2025 Top Hospitals (alphabetical order) Source: U.S. News & World Rep ort Top 20 Hospitals 2024-2025 10
Slide 11: Increasing footprint in the IDN space
Increasing footprint in the IDN space • IDNs represent the largest segment of the market • IDN clients across broad spread of opportunities from large multi-state to smaller regional • Most recent IDN sales for more than one Visage product – many “full stack”. • All recent IDN opportunities Cloud de
Slide 12: Visage RIS
@VISAGERIS TECHNOLOGIST DOCTOR TRANSCRIPTIONIST SEARCH OFFICE CLAIMING SETUP. Recent|* Dr R Simps Appointments Resin “Northern Bock Visage General Hospital 4 Tue, 17-0c02017 > "BR TA) ST TAMTTFI @ Patient @ Procedure MF Cancelled | Blocked Visage Xray + a Visage CT + Visage US Room1 + rsn_| Visage U
Slide 13: Visage RIS
VISAGE RIS • Long term (5 year) contracts with Lumus (Primary Healthcare) and I–MED, the 2 biggest radiology providers in AUS • Upside via organic and M&A growth (I-MED) • Increased market interest – new opportunities • PME undisputed market leader
Slide 14: Visage 7.0
Visage 7.0 Continues to be #1 in Speed, Functionality and Scalability. SPEED FUNCTIONALITY SCALABILITY
Slide 15: Massive Data Explosion
MASSIVE DATA EXPLOSION • High density Multi-slice CT - 10,000+ images • HD Breast Tomosynthesis - 6 GB+ • Optoacoustic breast ultrasound - 10+ GB • Total Body PET Scan - 10+ GB • 7T MRI - much larger than 3T
Slide 16: Legacy Technology
LEGACY TECHNOLOGY “Compress and Send” MODALITIES PACS RADIOLOGIST/CLINICIAN
Slide 17: Visage Solution: Streaming Technology
Visage SOLUTION: VISAGE 7 Streaming Technology BACKEND RENDER SERVER SERVER RADIOLOGIST/CLINICIAN MODALITIES
Slide 18: Fast Track Implementation
FAST TRACK IMPLEMENTATION • All implementations on or ahead of schedule • Fast track methodology continues to deliver • Large scale projects completed well under 1/4 the time of industry norm • Delivers huge savings for client • Frees PME staff for other jobs • Reduces barrier to change • New highly
Slide 19: Visage – Proven ROI
VISAGE – PROVEN ROI Significant IT & Unparalleled Greater Clinical Infrastructure Increase in Accuracy Savings Radiologist Efficiency Improved Physician Delivers Superior Engagement Value Proposition 19
Slide 20: Burnout – the new epidemic?
Burnout – the new epidemic ? • Acute worldwide shortage of radiologists • Reduced intake of radiology residents over last few years – fears AI would take over • Larger datasets – more images to look at • Work life balance post COVID – work from home part of the mix • Many groups struggling to handle
Slide 21: prosmedicus %
prosmedicus % sare Visace Tuacine:
Slide 22: Clinical Outcomes
Clinical Outcomes Moving the Needle 22
Slide 23: Growth Strategy
GROWTH STRATEGY New product offerings – Transaction growth V7OA, worklist Extend to new from existing clients geographical markets Leverage R&D capability to Expand footprint introduce next – new clients generation products 23
Slide 24: North America – TAM
NORTH AMERICA – TAM • 650 Million exams performed per annum in the US • Growing by ~ 3.5% per year • Visage able to address 100% of TAM from a product perspective • ~ 85% of TAM addressable from commercial perspective – “full stack”, Cloud etc • Current penetration is 7% and growing • Very large add
Slide 25: North American Pipeline
NORTH AMERICAN PIPELINE Prospects Progressing Network Effect through various stages of the cycle Opportunities Increasing due to recent high-profile wins in both Tier 1 academic and IDN Increased number markets Pipeline Robust of inbound RFPs across all market segments In terms of quality and quanti
Slide 26: Visage 7 Open Archive
VISAGE 7 OPEN ARCHIVE • Same highly scalable Visage 7 platform • Visage 7 Open Archive integral part of “Full Stack” solution • Pipeline includes numerous Visage 7 Open Archive opportunities • Key component of Visage in the Cloud strategy • Transaction based model with potential upside 26
Slide 27: Visage 7 Workflow
VISAGE 7 WORKFLOW • Adds to Visage 7 Viewer and Open Archive modules • Based on over 30 years experience in Worklist SW • Allows PME to offer “full stack” solution • Integral part of Visage in the Cloud SaaS solution • Ability to interface with broad range of AI algorithms • Sold in majority of rece
Slide 28: Visage CloudPACS
Visage CloudPACS • Visage 7 – fully Cloud native • Ultrafast performance • Full Visage 7 functionality + security and scale of cloud • Cloud vendor agnostic - large scale implementations in all 3 cloud vendors - AWS, Azure and Google GCP • Pipeline mandating Cloud deployment • Significant strategic
Slide 29: One Viewer - Cardiology
One Viewer - Cardiology VISAGE TMAGING* Platform For The Future — Powered By Speed. prosmedicus of VisaGe IMAGING"
Slide 30: AI in Radiology
AI in Radiology • Imbedded in SW or imaging equipment • Prioritisation of cases – eg intracranial haemorrhage • Screening – eg early-stage lung nodule detection • Aid to diagnosis – 2nd opinion, incidental findings • Automated diagnosis 30
Slide 31: AI Research Leadership
AI Research Leadership Malte Westerhoff, PhD Global Chief Technology Officer Detlev Stalling, PhD Head of Development Ming De Lin, PhD Clinical Research Manager North America 31
Slide 32: AI – Breast Density
AI – Breast Density American Roentgen Ray Society (ARRS) The researchers found that the AI model showed extremely good agreement with the radiologists at 99.3%. 32
Slide 33: Visage 7 Eco System
Visage 7 Eco System ALL PHYSICIANS & CLINICIANS (Any Location*) O} ONE VIEWER™ FOR ALL ®_ Radiology @ cardiology | eS VISAGE 7® Ultra-Fast, Smart-Client, On-Demand Streaming <9 ALL MODALITIES. ALL LOCATIONS. VISAGE* 7 RESEARCH SERVER (3p VISAGE’ & OPEN ARCHIVE % VisAGe IMAGING:
Slide 34: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro “From the Flintstones to the Jetsons” 34
Slide 35: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro • Launched 5th February with launch of Apple Vision Pro • Visage’s cinematic rendering engine natively embedded in Visage Ease VP • Supports virtual screens at more than 4K resolution for each eye • Immersive, spatial experiences for diagnostic imaging and multime
Slide 36: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro “Underpins our belief that our technology is 18 to 24 months ahead of competitors, if not more” 36
Slide 37: Summary
SUMMARY • Most successful year in company’s history • North American footprint continues to grow strongly • Expanded product portfolio – “full stack” solution • Cloud – huge strategic advantage over competitors • Unparalleled value proposition both clinical and financial RoI • Pipeline Continues to
Slide 38: Thank You
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