Slide 1: FY2024 Results Presentation
CATEGORY LEADING MEDTECH FOCUSED ON DELIVERING SUSTAINED WOUND HEALING & VALUE-BASED CARE FY2024 Results Presentation April 2025
Slide 2: Disclaimer
Disclaimer For the purposes of this disclaimer, "presentation" means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed during the presentation. This presentation includes statements that are, or may be deemed to be, “forwa
Slide 3: Presenting team
Presenting team Dr. Mike Griffiths Jayesh Pankhania Chief Executive Officer Chief Financial Officer 3
Slide 4: Today's agenda
Today’s agenda Corporate Financial Commercial Conclusion Overview Review Overview and Q&A 4
Slide 5: Corporate Overview
CREATING A NEW MARKET SEGMENT DELIVERING SUSTAINED WOUND HEALING & VALUE-BASED CARE Corporate Overview Dr. Mike Griffiths 5
Slide 6: Who we are
Who we are OUR VISION Saving limbs and saving lives by healing wounds durably OUR MISSION Helping people with chronic conditions get back to living their lives OUR VALUES Think BIG. Make a difference. Working together. Do the right thing. OUR MARKET Defining & leading the topical wound oxygen market
Slide 7: Hard to heal wounds are extremely costly and impact quality of life
Hard to heal wounds are extremely costly and impact quality of life Diabetic foot ulcers (DFUs) are the #1 ANNUAL COST OF DIABETES IN THE US IS Venous leg ulcers (VLUs) are reason for infection and leg >$237 BILLION amongst the most prevalent and amputation persistent leg ulcer ANNUAL US DIABETIC FO
Slide 8: TWO2 Therapy proven efficacy and cost reduction
TWO2® Therapy proven efficacy and cost reduction Evidence* Cost Savings* ✓ Maintains consistent pressure to the dressing Best-in-class disposable NPWT device ✓ Extended life duration complements TWO2® Therapy ✓ Low-cost facility & home care solution ✓ Partnered with major distributor in US NPWT Devi
Slide 9: TWO2 Therapy results in c.16% net cost savings
TWO2® Therapy results in c.16% net cost savings NEW JERSEY OHIO PENNSYLVANIA ARIZONA Annual estimate Annual estimate Annual estimate Annual estimate of Ohio DMAS care costs on of Pennsylvania Medicaid of single managed of NJ Medicaid costs on DFU alone costs on DFU alone Medicaid plan costs on DFU a
Slide 10: Solid performance in 2024 with progress achieved against strategy
Solid performance in 2024 with progress achieved against strategy INCREASING MARKET ACCESS FOR TWO2® THERAPY • Growth delivered across all business segments, with the higher margin Medicaid growing faster than expected • New provider registrations achieved in three new Medicaid states, bringing the
Slide 11: Financial Review
Financial Review Jayesh Pankhania 11
Slide 12: Revenues up 32.9% driven by growth across all business segments
Revenues up 32.9% driven by growth across all business segments YEAR ON YEAR REVENUES ($’000) REVENUE BREAKDOWN BY SEGMENT ($’000) Other 70,000 2,493 Medicaid 60,000 21,509 50,000 VA 34,357 40,000 2023 30,000 20,000 10,000 0 FY 20 FY 21 FY 22 FY 23 FY 24 12
Slide 13: Sustainable growth and margin improvement
Sustainable growth and margin improvement HISTORICAL REVENUES, ADJUSTED EBITDA AND GROSS MARGIN 70,000 100% ACCELERATED INVESTMENT PERIOD 90% 60,000 80% 50,000 70% Revenue / Adjusted EBITDA $’000 60% 40,000 Margin % Revenue CAGR: 32% 50% (2020 – 2024) 30,000 40% 20,000 30% 20% 10,000 10% - 0% 2020 2
Slide 14: Income statement
Income statement CONSOLIDATED STATEMENT OF OPERATIONS #039;000 FY 2024 FY 2023 Change Increase mainly driven by Total revenues 58,359 43,918 32.9% Medicaid states (+84%) and VA (+9%). Total cost of revenues (7,004) (6,324) Growth driven by revenue and Gross profit 51,355 37,594 36.6% improved gross mar
Slide 15: Adjusted EBITDA margin growing
Adjusted EBITDA margin growing RECONCILIATION BETWEEN NET LOSS AND ADJUSTED EBITDA #039;000 FY 2024 FY 2023 Change Net Loss (1,756) (8,187) -79.2% Provision for income taxes 811 537 Interest expense 1,853 1,950 Depreciation and amortization 1,970 1,419 Loan fees Amortization EBITDA 2,878 (4,281) Share
Slide 16: Balance sheet
Balance sheet CONSOLIDATED BALANCE SHEET #039;000 2024 2023 Total non-current assets 12,856 12,737 Inventory 2,514 2,204 Income tax receivable 17 40 Increased debtors due to increased proportion of Trade accounts receivable, net 13,433 5,222 non-VA revenue together with payment delays from insurers in
Slide 17: Net cash position reflects the funds raised as part of the IPO
Net cash position reflects the funds raised as part of the IPO NET CASH / (NET DEBT) MOVEMENT 5,000 19,931 858 0 (5,000) Mainly due to receivables increase. $’000 (10,000) (11,222) (15,000) (5,910) (20,000) (1,941) (25,000) Net Debt FY 23 Operating cash flow PPE Net Share proceeds Net Cash 17
Slide 18: Commercial Execution
Commercial Execution Dr. Mike Griffiths 18
Slide 19: Key pillars driving our commercial success
Key pillars driving our commercial success DME High growth and Transformative Exceptional level of Experienced team in Strategically highly profitable clinical outcomes evidence and chronic diseases important Durable MedTech business through sustained outcomes advancing focused on scaling & Medical
Slide 20: US state, federal and private healthcare payer landscape
US state, federal and private healthcare payer landscape ~330 m Americans / $4.5 trillion budget – complex interplay of payers, providers, patients and politics 67% of $413bn annual direct cost of diabetes care funded by US Government FSS / Veterans Medicaid Medicare Private • ~2.7% of population •
Slide 21: Market access and commercialisation plan for TWO2 Therapy
Market access and commercialisation plan for TWO2® Therapy PHASE 1 PHASE 2 PHASE 3 2022: <10% Nat. Coverage Expanding coverage for FY 2024 and beyond National Coverage EXISTING ESTABLISHING ACCESS WITH ACCELERATED ACCESS COVERAGE LARGEST US PAYERS LEVERAGING PAYER CONTRACTS Veteran’s Administration
Slide 22: Delivering our commercial roll out strategy
Delivering our commercial roll out strategy Strategic Execution Medicaid States 70% VA business 4 Medicaid states ✓ New York ✓ New Jersey FY 2023 Strategy to leverage FY22/23 investments into ✓ Arizona ✓ Virginia market access and commercial <60% VA business ✓ New York ✓ Tennessee 9 Medicaid states
Slide 23: Value-based care: aligning with payor needs
Value-based care: aligning with payor needs Value-Based Care Goal: “Provide high- HHS Secretary Robert F. Kennedy, Jr.: CMS Administrator Dr. Mehmet Oz: quality, patient-centered care that improves “Support for value-based care models “Equipping health care providers with health outcomes while lower
Slide 24: Delivering value-based care
Creating market leading differentiation DELIVERING VALUE-BASED CARE
Slide 25: Innovators in delivering value-based care
Innovators in delivering value-based care Provider AOTI provides an integrated Engagement solution that supports providers and Care in healing patients and Integration delivering value-based Patient outcomes to payors Engagement at Home Proven Therapy 25
Slide 26: Patient engagement – enhanced and scalable via Eyes on the Wound
Patient engagement – enhanced and scalable via Eyes on the Wound® BEING IN THE HOME IS THE KEY: • The personal connection to patient and insights from the home environment are invaluable. • Therapy Support Team builds trust and patient engagement for healing • Personal connection developed during ho
Slide 27: Tech-enabled care integration
Tech-enabled care integration • Allows receiving & sharing data • AI Call Transcription • EHR data ingestion through • Quality assurance in therapy Health Information Exchange initiation • Wound progression imaging Data • Assessment of home • Advanced wound analytics & environment and barriers to in
Slide 28: Conclusion and Q&A
Conclusion and Q&A Dr. Mike Griffiths 28
Slide 29: AOTI – a high-growth profitable medical technology business
AOTI – a high-growth profitable medical technology business Establishing and clear market leader in the rapidly expanding topical oxygen wound therapy segment Differentiated outcomes based around the sustainable healing of hard-to-heal wounds, in particular DFUs and VLUs with two best-in-class and a
Slide 30: Q&A
Q&A 30
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