Infusystems Holdings, Inc. · AMEX:INFU
Infusystems — InfuSystem Holdings — Investor Presentation (November 2023)
22 slides from Infusystems's investor presentation, Nov 16, 2023
Slide 1: Investor Presentation November 9, 2023
Investor Presentation November 9, 2023 l (NYSE American: INFU) Helping People Live Longer and Healthier Lives
Slide 2: Forward-Looking Statements / Non-GAAP Measures
Forward-Looking Statements / Non-GAAP Measures Forward-Looking Statements Certain statements contained in this presentation are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
Slide 3: Investment Highlights
Investment Highlights *Market data as of November 05, 2023 Delivering Solutions Promoting Healing, Facilitating Outpatient Care, Lowering the Cost of Care and Improving Patient Outcomes. Market Cap* $204M Enterprise Value* $237M Shares Out 21.2M 2022 Revenue $109.9M, Up 7% y/y Driving Shareholder Va
Slide 4: Investment Highlights: Four Consecutive Years of Record Revenue
*Data as of September 30, 2023, unless otherwise noted Four Consecutive Years of Record Revenue • Revenue CAGR: 13% • Adjusted EBITDA CAGR: 11%4 Business Generates Substantial Annual Cash Flow • $17.5M – 2022 Cash Flow Provided by Operations Solid Balance Sheet to Support Growth • Net Leverage Ratio
Slide 5: Business Highlights
*Source: U.S. News & World Report, Best Hospitals, July 2022 5 Business Highlights A leading provider of medical equipment and patient services powered by a 100K+ device fleet in the U.S. and Canada Over three decades of experience, built on existing Oncology therapy model and now rapidly expanding
Slide 6: Market Positioning – We Provide Solutions
• Safe quality equipment • Home treatment • Equipment on demand • Lower admin costs - Smart • Product distribution • Trusted device care • Lower cost of care - Smart • Improved outcomes 6 Market Positioning – We Provide Solutions Promote Healing > Facilitate Outpatient Care > Lower the Cost of Care
Slide 7: Sales by Segment
SALES BY SEGMENT Total 2022 Revenue: $109.9 Million $41.0M (37%)$68.9M (63%) Device Solutions Providing equipment, products and services to hospitals, clinics and home infusion providers Patient Services Facilitating outpatient care for patients requiring durable medical equipment Patient Services •
Slide 8: Patient Services and Device Solutions Competitive Advantages
Patient Services • 800+ national payer contracts covering over 96% of U.S. population • Focused and scalable revenue cycle management team • 24/7 clinical hotline • Device agnostic Device Solutions • White Glove Concierge approach • 7 facilities serving U.S. and Canada • Nearly 200 biomedical techni
Slide 9: Patient Services
“The patient is at the center of everything we do.” Patient Services Oncology (Core Business) Is Profitable and Stable Growth Opportunities Are Pain Management and Wound Care Clinical Support/ Case Management Device Logistics Revenue Cycle Management Device Repair & Maintenance 9 Unique High-Service
Slide 10: Growth Strategy: Patient Services
Growth Strategy: Patient Services 2023: Focus and Execute on Expansive Existing Opportunities Oncology Enabling Patients to Receive Chemo Treatment at Home Pain Management Reducing Post-Surgical Opioid Use 10 Wound Care Advancing Wound Healing • Dominant player in the market • Generates cash to fund
Slide 11: Device Solutions
Medical Device Sales, Rentals & Leasing Consumable Sales Device Repair & Maintenance Device Solutions Traditional Medical Distribution, Direct Payer Model INFU Is Paid Directly by the Hospital/Clinic/Home Care Provider Trusted Device & Service Provider Inventory & Tracking • Device Solutions (Core B
Slide 12: Growth Strategy: Device Solutions
Growth Strategy: Device Solutions 2023: Focus and Execute on Expansive Existing Opportunities Biomedical Services Maintenance, Repair and Inventory of Devices and White Glove Concierge Service • Hospitals, clinics and home infusion providers Device Rentals Extensive Rental Fleet Offering • Home and
Slide 13: InfuSystem's Unique Capabilities Are in High Demand
InfuSystem's Unique Capabilities Are in High Demand February 2021 Acquired and Integrated Two Biomedical Services Companies to Develop and Expand Device Solutions in Acute Care February 2022 Signed Agreement With Solo-Dex Inc. for Proprietary Continuous Peripheral Nerve Block Catheters April 2022 Bi
Slide 14: Quarterly Trends
Quarterly Trends *2020 includes favorable COVID-19 impact on Net Revenue and AEBITDA.(1) See Appendix A. 14 Net Revenue Quarterly Trend $21.6 $26.0 $25.1 $24.7$24.5 $24.8 $26.6 $26.5$26.8 $27.0 $27.3 $28.8 $30.4 $31.7 $31.9 2020 2021 2022 2023 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $— $10.0
Slide 15: Annual Financial Performance
Annual Financial Performance 15 $ in M ill io ns $ in M ill io ns Net Revenues $67.1 $81.1 $97.4 $102.4 $109.9 $122.8 $122.0 2018 2019 2020 2021 2022 TTM 9/30/23 Estimated 2023 $— $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 Adjusted EBITDA $13.8 $18.2 $26.2 $24.0 $20.7 $21.7 $21.0 2018 2019 2020 20
Slide 16: Annual Margin Performance
Annual Margin Performance 16 Gross Margin 58.1% 57.8% 60.3% 58.8% 56.9% 52.4% 2018 2019 2020 2021 2022 TTM 9/30/23 —% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% Adjusted EBITDA Margin 20.5% 22.5% 26.9% 23.5% 18.9% 17.7% 17.0% 2018 2019 2020 2021 2022 TTM 9/30/23 Estimated 2023 —% 5.0% 10.0% 15.0% 20.0% 25.
Slide 17: Balance Sheet Highlights
Balance Sheet Highlights 17 (1) April 26, 2023, amended the 2021 credit agreement to replace LIBOR with Term SOFR as a benchmark interest rate. New expiration date April 26, 2028. $ in Millions As of September 30, 2023 Equity $51.5 Total Long-Term Debt 1 $32.7 Net Leverage Ratio 1.50x Debt/Equity Ra
Slide 18: Capital Allocation Priorities
18 Capital Allocation Priorities Investments to Drive Organic Growth Initiatives • Device Solutions – Biomedical Services • Patient Services – SI Wound Care Share Repurchase – Opportunistic • $20M Stock Repurchase Program • $14M Balance as of 9/30/2023 Reduce Debt Levels • Ongoing Financial Flexibil
Slide 19: Corporate Priorities
Corporate Priorities Maintain Solid Core Business in Oncology and DME Drive Growth Initiatives – Pain Management, Biomedical and Wound Care Market Share Continue to Drive Improved Operational Efficiencies and Margin Expansion Optimize Capital Allocation Priorities to Enhance Organic Growth 19
Slide 20: Questions & Answers
(InfuSystem SAFE. SMART. TRUSTED.” Questions & Answers
Slide 21: Appendix A: GAAP to Non-GAAP Reconciliation
Appendix A GAAP to NON-GAAP Reconciliation 21 NET INCOME (LOSS) TO ADJUSTED EBITDA: Twelve Months Ended December 31, Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2020 2021 2022 2022 2023 2022 2023 GAAP net income (loss) $ 1,361 $ 17,332 $ 1,420 $ 18 $ 443 $ 68
Slide 22: Executive Team
Barry Steele Executive Vice President & Chief Financial Officer Joined InfuSystem: 2020 Richard DiIorio Chief Executive Officer & Director Joined InfuSystem: 2004 Carrie Lachance, BSN, RN, CRNI President & Chief Operating Officer Joined InfuSystem: 2010 Addam Chupa Executive Vice President & Chief I
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