Bruker Corporation · NASDAQ:BRKR
Bruker — Investor Day (June 2023)
118 slides from Bruker's investor day presentation, Jun 15, 2023
Slide 1: Bruker Corporation Investor Day 2023
IN N OVATION WITH IN TEG RIT Y Bruker Corporation Investor Day 2023 June 15, 2023 Focus on Proteomics and Spatial Biology
Slide 2: Safe Harbor Statement
BRUKER CORP ORATI ON 2 0 2 3 IN VESTOR DAY Safe Harbor Statement Any statements contained in this press release which do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securit
Slide 3: Agenda
BRUKER CORP ORATI ON 2 0 2 3 IN VESTOR DAY Agenda 11:00 am to 1:30 pm EDT 01 Bruker Strategy - Proteomics & Spatial Frank H. Laukien, President & CEO 05 Spatial Biology and Cell Microscopy Mark Munch, President, Bruker NANO 02 06 In-vivo Microscopy in Neuroscience Research Unbiased, Deep 4D-Proteomi
Slide 4: Bruker Strategy & Opportunities
INVESTOR DAY 2023 Bruker Strategy & Opportunities Focus on Proteomics & Spatial Biology Frank H. Laukien, Ph.D. Chairman, President & CEO
Slide 5: Key takeaways of Investor Day 2023: Disciplined entrepreneurialism at work
INVESTOR DAY 2023 Key takeaways of Investor Day 2023: Disciplined entrepreneurialism at work • Project Accelerate 2.0 has transformed Bruker into a higher organic growth company • Goal to grow revenue organically 200-300 bps above market in 2023-2026 • Dual Strategy of Project Accelerate & Operation
Slide 6: Bruker at a Glance
INVESTOR DAY 2023 Bruker at a Glance ▪ Leading provider of high-value life science tools and solutions >$2.8B (1) >8,500 R&D ~10% Revenue Colleagues of Revenue ▪ #1 or #2 market position in majority of our portfolio ▪ Deep expertise in physics, chemistry, and biology ▪ Organic growth, innovation and
Slide 7: Innovation with Integrity meets Disciplined Entrepreneurialism
INVESTOR DAY 2023 Innovation with Integrity meets Disciplined Entrepreneurialism Mission: Customer Success Values: Integrity & Quality Our high-performance scientific instruments, life We value integrity, respect and trust within a science research and diagnostic solutions, and fast-paced and dynami
Slide 8: Dual strategy of Project Accelerate 2.0 and Operational Excellence works
INVESTOR DAY 2023 Dual strategy of Project Accelerate 2.0 and Operational Excellence works Project Accelerate 2.0 Initiatives Operational Excellence ▪ Pull up growth and margins ▪ Pushes up market share, margins ▪ Re-positioning Bruker for high-growth, high- ▪ Cadence and control of Bruker margin op
Slide 9: Bruker transformation accelerates value-creation for all stakeholders
INVESTOR DAY 2023 Bruker transformation accelerates value-creation for all stakeholders Organic Revenue CAGR Non-GAAP EPS CAGR ROIC 8% 8% 13% >20% 9% 3% 2% (2%) 4% 4% 6% 2012-18 2018-23G 2012-18 2018-23G 2018-2022 G = guidance midpoint 2021-202X: PROJECT ACCELERATE 2.0 2014-2016: RESTRUCTURING & 201
Slide 10: Faster Growth from Project Accelerate 2.0 High-Growth, High-Margin Initiatives
INVESTOR DAY 2023 Faster Growth from Project Accelerate 2.0 High-Growth, High-Margin Initiatives Unbiased 4D-Proteomics & Consumables, Scientific Unbiased Epiproteomics, Functional Software & Aftermarket Proteomics & Structural Biology, SCP Multiomics Consumables, assays, services, Proteomics, PTMs,
Slide 11: MALDI Biotyper with Novel Applications Installed Base Grows Steadily
INVESTOR DAY 2023 – APPLIED & CLINICAL PROTEOMICS MALDI Biotyper® with Novel Applications Installed Base Grows Steadily ▪ Leader in microbial identification by proteomic fingerprinting in clinical and applied markets ▪ Better, faster, more cost-effective ID of bacteria and fungi ▪ Near-universal mic
Slide 12: Establishing NMR and EPR as Core Analytical Techniques in Battery Value Chain
INVESTOR DAY 2023 - CLEANTECH Establishing NMR and EPR as Core Analytical Techniques in Battery Value Chain: Research, Production & Recycling Mining Materials Cell Packing Integration Recycling Electrode Production Mixing Coating Drying Solvent Calendering Slitting Recovery Battery Cell Battery Cond
Slide 13: Clean Energy Developments with BEST Cleantech Technologies
INVESTOR DAY 2023 - CLEANTECH Clean Energy Developments with BEST Cleantech Technologies ▪ Growing Cleantech markets for differentiated and unique BEST cleantech tools (‘picks & shovels’) ▪ BEST offers cleantech technologies for fusion power and next-gen offshore wind turbines Fusion Research & Pilo
Slide 14: From new Chip Structures to new Back-end 3D Packaging
INVESTOR DAY 2023 - SEMICON METROLOGY & MICROELECTRONICS From new Chip Structures to new Back-end 3D Packaging – Enabled by next-gen advanced semicon metrology by Bruker X-Ray Diffraction Enables Next- Advanced QC for 3D Chips Packaging Generation Chip Manufacturing • 3 nm logic moved to Gate-All- •
Slide 15: Functional Structural Biology: Understanding Disease Biology with GHz NMR
INVESTOR DAY 2023 – NMR Functional Structural Biology: Understanding Disease Biology with GHz NMR NMR in (Un-)structural Biology NMR in Pharmacology Intrinsically Disordered Proteins (IDPs) GPCRs as Key Drug Targets ▪ IDPs implicated in protein aggregation in ▪ NMR key to G-Protein Coupled Receptors
Slide 16: Biology Applications Enabled by Unique NMR Technologies
INVESTOR DAY 2023 – NMR Biology Applications Enabled by Unique NMR Technologies AI Technology in NMR Ultra High-speed 160 kHz Revolutionary, unique Structural Biology Magic-Angle Spinning Probes 1.0/1.1/1.2 GHz Systems Automated protein structure Revolutionary speed to study 2022: Launch of compact
Slide 17: Seizing Very Large TAMs and Secular Growth Opportunities in Proteomics & Spatial Biology
INVESTOR DAY 2023 – PROTEOMICS & SPATIAL BIOLOGY Seizing Very Large TAMs and Secular Growth Opportunities in Proteomics & Spatial Biology Essential Complex Virtuous Cycle Still early Proteins and metabolites ~21k genes, yet millions of Ever more sensitive instruments and powerful innings of perform
Slide 18: Proteomics, Structural Biology, Metabolomics/Lipidomics, Applied & Clinical Proteomics
INVESTOR DAY 2023 - PROTEOMICS & SPATIAL BIOLOGY Proteomics, Structural Biology, Metabolomics/Lipidomics, Applied & Clinical Proteomics (MBT), Spatial Biology & Cellular Microscopy 2022 Bruker Revenue Mix Proteomics, Multi- MALDI Biotyper Omics, Applied & Applied & Clinical NMR functional >25% Clini
Slide 19: Innovations in Tissue Proteomics Sample Prep and Immunopeptidomics
INVESTOR DAY 2023 – PROTEOMICS SAMPLE PREP AUTOMATION, CONSUMABL ES, SOFTWARE Innovations in Tissue Proteomics Sample Prep and Immunopeptidomics Novel BeatBox FFPE Workflow Novel AI-Bioinformatics for timsTOF SCP-based Immunopeptidomics • Unmatched sensitivity of timsTOF SCP coupled to PaSER Novor a
Slide 20: Inscopix and Biognosys add Key Capabilities in Neuroscience Research and Proteomics
INVESTOR DAY 2023- IN-VIVO MICROSCOPY & PROTEOMICS DRUG DISCOVER Y SERVICES Inscopix and Biognosys add Key Capabilities in Neuroscience Research and Proteomics ▪ Inscopix is a neuroscience pioneer and market leader of miniaturized ▪ Biognosys offers mass spec expert proteomics CRO services, software
Slide 21: timsTOF Platform Advancing 4D-Proteomics
INVESTOR DAY 2023 timsTOF Platform Advancing 4D-Proteomics ❖ Unmatched Robustness (~60 SPD – 200 SPD) timsTOF HT: More than 100,000 ❖ Unparalleled Duty Cycle (PASEF, diaPASEF, prmPASEF, capsPASEF) unique peptides identified with ❖ High-Throughput Omics (5min, 20min methods) 60-minute nLC ❖ Identify
Slide 22: Key takeaways of Investor Day 2023: Disciplined entrepreneurialism at work
INVESTOR DAY 2023 Key takeaways of Investor Day 2023: Disciplined entrepreneurialism at work • Project Accelerate 2.0 has transformed Bruker into a higher organic growth company • Goal to grow revenue organically 200-300 bps above market in 2023-2026 • Dual Strategy of Project Accelerate & Operation
Slide 23: Innovation with Integrity
Innovation with Integrity
Slide 24: 4D-Proteomics Has the Game: timsTOF
epGser Bruker Investor Day 4D-ProteOMICS NaS the Game: eboins timsTOF wT Se
Slide 25: The timsTOF Pro (HUPO'17) enabled Proteomics to hit 'Refresh'
The timsTOF Pro (HUPO’ 17) enabled Proteomics to hit ‘Refresh’ Unmatched Robustness ‘Proteomics at Scale’ (~60 SPD – 1000 SPD) Unparalleled Duty Cycle of TIMS+TOF MS (PASEF, diaPASEF, prmPASEF, capsPASEF…) Identify more PTMs with power of TIMS (Mobility Offset, Mass Aligned - MOMA) Higher Confidence
Slide 26: A Differentiated Ecosystem to Accelerate Discovery
A Differentiated Ecosystem to Accelerate Discovery Key Drivers: • Immunopeptidomics • Single-cell proteomics (esp. tumor biology) & fundamental research • Target (protein) selection TOF • Chemical Proteomics • Drug re-purposing • Therapy personalization TIMS Sample Sample Sample Nano-flow v Mass ‘Di
Slide 27: The Unique TIMS Advantage: CCS-Enabled Confidence
The Unique TIMS Advantage: CCS-Enabled Confidence CCS values in the age of digital biology Today, the most popular bioinformatics packages use CCS values; maxQuant, MS Fragger, PEAKS, Spectronaut, Skyline, & AlphaPept are all CCS-enabled. https://doi.org/10.1016/j.cels.2021.06.006 © 2023 Bruker Inno
Slide 28: Users Embracing the Benefits of PASEF
Users Embracing the Benefits of PASEF miDIA- (2023, Distler..Tenzer et al.) ▪ Near 100% utilization of ions due to parallelization boosted sensitivity synchro- (2023, Skowronek..Mann et al.) ▪ Proteomics at scale (>50SPD) now speedy- (2023,Szyrwiel..Ralser et al.) routine. ▪ Short gradients (~3 min)
Slide 29: Peer Group Recognition for the Advances Made
Peer Group Recognition for the Advances Made EuPA’20 Technology award for PASEF 2020 EuPA’22 Technology award for timsTOF SCP © 2023 Bruker Innovation with Integrity | 4 August 2023 | 29
Slide 30: The Passion to Innovate with Integrity is hard-wired in our DNA
The Passion to Innovate with Integrity is hard-wired in our DNA 2023 Make the invisible, visible 2019 2022 2020 2021 MALDI with TIMS Broader compound classes with MALDI Single cell proteomics made routine The workhorse – proteome depth with speed © 2023 Bruker Innovation with Integrity | 4 August 20
Slide 31: Making the Invisible, Visible, One Cell at a Time
Capabilities of the new Making the Invisible, Visible, One Cell at a Time >5.5K Protein Groups & >55K peptides at 125pg (1%FDR) ▪ Raises the bar for analytical sensitivity due to 5 key innovations: ▪ New CSI-Ultra source with enhanced vortex gas delivery ▪ Optimized conductive glass capillary for br
Slide 32: Spatial Proteomics: Mouse Liver FFPE at the Max Delbruck Center
Capabilities of the new Spatial Proteomics: Mouse Liver FFPE at the Max Delbruck Center for Molecular Medicine, Berlin. Dr. Fabian Coscia Group Leader Spatial Proteomics MDC Berlin, Germany Protein groups 4 4 “The single-cell sensitivity diaPASEF workflow on the timsTOF Ultra has brought our low-inp
Slide 33: Quantitative Proteomics in a Single Cell at the IMP, Vienna
Capabilities of the new Quantitative Proteomics in a Single Cell at the IMP, Vienna. Prof. Dr. Karl Mechtler Head of Proteomics Tech Hub IMP, IMBA, & GMI Vienna, Austria “It would make biological sense to detect 6000 or more proteins in a single-cell equivalent experiment. The timsTOF Ultra has succ
Slide 34: The Unique Value of TIMS for Immunopeptidomics: The Carr Group
Capabilities of the new The Unique Value of TIMS for Immunopeptidomics: The Carr Group, The Broad Institute, Cambridge, USA. https://doi.org/10.1016/j.mcpro.2023.100563 © 2023 Bruker Innovation with Integrity | 4 August 2023 | 34
Slide 35: Pioneering Lung Cancer Single Cell Research: 4D-Lipidomics
Pioneering Lung Cancer Single Cell Research: 4D-Lipidomics Dr. Seul Kee Byeon Mayo Clinic Rochester, MN “I am excited that Bruker’s timsTOF Ultra allows me to do single cell lipidomics. I have A549 lung cancer cells isolated with cellenONE platform (Cellenion) analyzed been able to detect more than
Slide 36: Micro-flow Robustness (50uL/min) on the timsTOF HT
Micro-flow Robustness (50uL/min) on the timsTOF HT TU Munich, Küster Lab. Dr. Johanna Tushaus Küster Lab, TU Munich “Coupling our well-established micro-flow LC technology via the VIP-HESI source to the timsTOF- HT turned out to be a powerful combination. It enables deep proteome coverage using shor
Slide 37: Speedy-PASEF (Ralser Group): Proteomics at Unprecedented Scale
Speedy-PASEF (Ralser Group): Proteomics at Unprecedented Scale Ultra-high throughput with 398 samples per day: ▪ Analytical flow of 500-μL/min flow rate and a 3-min chromatographic gradient, Speedy-PASEF quantified 5,211 proteins from 2μg of a mammalian cell-line standard at high quantitative accura
Slide 38: 300 Hz DDA-PASEF: 4D-Lipidomics
300 Hz DDA-PASEF: 4D-Lipidomics SRM 1950 Plasma lipid extract analyzed in 1.5 min Intens. Precursors containing mobility selected, mass selected, clean MS/MS +PASEF(900.8013), 30.0eV, 1.1min, 1/K0=1.603±0.011, #1139 x105 6 601.5160 603.5333 4 2 Intens. +PASEF(900.8013), 30.0eV, 1.1min, 1/K0=1.603±0.
Slide 39: Multiomics Spatial Biology: MALDI HiPlex-IHC
Capabilities of the Multiomics Spatial Biology: MALDI HiPlex-IHC Dr. Peggi Angel Professor, MUSC Label-free MALDI Glycan imaging “From the perspective of a lab heavily invested in cellular signaling processes involved with cancer, MALDI HiPLEX-IHC is a game changer allowing integration of mass spect
Slide 40: Key Takeaways
Key Takeaways 1 Revolutionary sensitivity of the timsTOF Ultra will power discovery by identifying lower abundant proteins, with higher coverage using small sample amounts. Data formats to remain open to facilitate user-driven PASEF optimization. 2023 th 2 TIMS technology will continue to evolve fur
Slide 41: Innovation with Integrity
Innovation with Integrity
Slide 42: Transformative insights from discovery to clinic
2023 Bruker Investor Day Transformative insights from discovery to clinic
Slide 43: Biognosys – A Leader in Unbiased Mass Spec-based Proteomics
Biognosys – A Leader in Unbiased Mass Spec-based Proteomics Headquarters and CRO facility in Schlieren, Switzerland 15 Years of proteomics innovation 70 Team members across Switzerland, US and the UK 30 Granted patents for innovative proteomics software, kits and research services solutions 800 Glob
Slide 44: Proteomics Enables Multi-Dimensional Understanding of Cellular Function
Proteomics Enables Multi-Dimensional Understanding of Cellular Function Genomics Proteomics Genomic building Expression Post-Translational Protein Structure / Protein − Protein blocks of life Level Modifications Conformation Interactions 20,000 protein-encoding >1 million protein variants that are d
Slide 45: Poor Understanding of Protein Function Underlies Drug Failure
Poor Understanding of Protein Function Underlies Drug Failure Lack of Efficacy 56% 28% Lack of Safety Limited understanding of Off-target / Off-site toxicity disease biology 7% Low compound specificity 5% Incomplete understanding of MoA 5% Poorly predictive preclinical models Underperforming biomark
Slide 46: Cracking the Phenotype has the Potential to Revolutionize Precision Medicine
Cracking the Phenotype has the Potential to Revolutionize Precision Medicine Discover novel drug targets Better patient stratification to improve outcomes © 2023 Bruker | |
Slide 47: Biognosys – Delivering Innovation across the Proteomics Discovery & Process Chain
Biognosys – Delivering Innovation across the Proteomics Discovery & Process Chain Data Exploration Tissue, FFPE Plasma/Serum CSF/Urine © 2023 Bruker | |
Slide 48: Biognosys leads in deep proteomics
Biognosys leads in deep proteomics Setting benchmarks since invention of data independent acquisition technology in 2012 Biognosys’ Achieves Near-Complete Proteome Coverage Benchmark- Proteins expressed in HeLa 12’000 Proteins Quantified 10’000 8’000 6’000 4’000 2’000 0 2010 2012 2014 2016 2018 2020
Slide 49: Biognosys Enables Access to Leading-edge Proteomics Solutions
Biognosys Enables Access to Leading-edge Proteomics Solutions For in-house use or as outsourced service CRO Services Software & Kits offered with Support in study excellent support design and data analytics Non-Mass Spectrometry Users Mass Spectrometry Users © 2023 Bruker | |
Slide 50: Research Services Solutions that Advance and Derisk Drug Discovery
Research Services Solutions that Advance and Derisk Drug Discovery © 2023 Bruker | |
Slide 51: Trusted CRO services
Trusted CRO services Focus on Pharma and Biotech 85% Pharma & Biotech > 100 Biotech 60% North America / 40% Europe > 30 Pharma > 30 Medical / Academic Institutions Multiple Biobanks, Diagnostics, Chemical/Agro, Animal Health © 2023 Bruker | |
Slide 52: Biognosys' Software and Reagent Solutions Empower Mass Spectrometry Users
Biognosys’ Software and Reagent Solutions Empower Mass Spectrometry Users Software Consumables Kits MS Proteomics Signal Extraction, Data Analysis, & Sample Preparation, Quantification, Quality Control Quality Control © 2023 Bruker | |
Slide 53: Biognosys Solutions reach a Broad User Base Across Pharma, Biotech, and Academia
Biognosys Solutions reach a Broad User Base Across Pharma, Biotech, and Academia 160+ Non-academic Customers 300+ Academic Research Groups Industry 24% Academia 46% 190+ Academic Core Facilities Academic Core Facility 30% …and many more From past 3 years © 2023 Bruker | |
Slide 54: Synergies For Proteomics Customer Success
Synergies For Proteomics Customer Success Biognosys’ solutions complement Bruker proteomics ecosystem from sample to insight In-house Proteomics Solutions Sample Prep HPLC Separations Ion Sources Mass Specs Software iRT PQ500 iRT SAMPLE Biognosys Research Services INSIGHT © 2023 Bruker | |
Slide 55: Coming soon
Coming soon Biognosys US proteomics facility powered by Bruker timsTOF Providing Targeted and Discovery Services for Proteome Profiling with Biognosys Standard Methods or Customer Methods © 2023 Bruker | |
Slide 56: Key Takeaways
Key Takeaways A comprehensive grasp of the phenotype is crucial for unraveling the intricacies of biology. Proteomics represents a new frontier to provide revolutionary insights for advancing drug discovery. Biognosys, a leader in proteomics mass spectrometry, enables proteome analysis for transform
Slide 57: Innovation With Integrity
Innovation With Integrity
Slide 58: BNANO Spatial Biology
2 0 2 3 INVESTOR DAY BNANO Spatial Biology Mark R. Munch, Ph. D. President, Bruker NANO Group
Slide 59: Spatial Biology and Cellular Analysis Built Off Key Core Competency in Fluorescence Imaging
BRUKER INVESTOR DAY Spatial Biology and Cellular Analysis Built Off Key Core Competency in Fluorescence Imaging PROJECT ACCELERATE 2.0 ACCELERATED GROWTH OPPORTUNITIES NEUROSCIENCE SPATIAL BIOLOGY ORGANOID IMAGING EXTRACELLULAR VESICLES IMMUNOLOGY Core Competency in Fluorescence Imaging >$70M Revenu
Slide 60: Spatial Biology and Cellular Analysis Built Off Key Core Competency in Fluorescence Imaging
BRUKER INVESTOR DAY Spatial Biology and Cellular Analysis Built Off Key Core Competency in Fluorescence Imaging PROJECT ACCELERATE 2.0 ACCELERATED GROWTH OPPORTUNITIES NEUROSCIENCE SPATIAL BIOLOGY ORGANOID IMAGING EXTRACELLULAR VESICLES IMMUNOLOGY Core Competency in Fluorescence Imaging Multiphoton
Slide 61: Spatial Biology and Cellular Analysis Built Off Key Core Competency in Fluorescence Imaging
BRUKER INVESTOR DAY Spatial Biology and Cellular Analysis Built Off Key Core Competency in Fluorescence Imaging NEUROSCIENCE SPATIAL BIOLOGY ORGANOID IMAGING EXTRACELLULAR VESICLES IMMUNOLOGY © 2023 Bruker Innovation With Integrity | June 15, 2023 | 61
Slide 62: Spatial Biology and Cellular Analysis Built Off Key Core Competency in Fluorescence Imaging
BRUKER INVESTOR DAY Spatial Biology and Cellular Analysis Built Off Key Core Competency in Fluorescence Imaging Core Competency in Fluorescence Imaging SPATIAL BIOLOGY NEUROSCIENCE EXTRACELLULAR ORGANOID VESICLES IMAGING IMMUNOLOGY © 2023 Bruker Innovation With Integrity | June 15, 2023 | 62
Slide 63: Spatial Biology and Cellular Analysis Built Off Key Core Competency in Fluorescence Imaging
BRUKER INVESTOR DAY Spatial Biology and Cellular Analysis Built Off Key Core Competency in Fluorescence Imaging Core Competency in Fluorescence Imaging SPATIAL BIOLOGY NEUROSCIENCE Canopy CellScape Tissue and Cell Suspension EXTRACELLULAR VESICLES ORGANOID IMAGING Ultima 2-Photon Imaging Microscopy
Slide 64: Spatial Biology Built Off Key Core Competencies
BRUKER INVESTOR DAY Spatial Biology Built Off Key Core Competencies PROJECT ACCELERATE 2.0 ACCELERATED GROWTH OPPORTUNITIES NEUROSCIENCE SPATIAL BIOLOGY ORGANOID IMAGING EXTRACELLULAR VESICLES IMMUNOLOGY Core Competency in Fluorescence Imaging © 2023 Bruker Innovation With Integrity | June 15, 2023
Slide 65: Market Segmentation in Spatial Biology
BRUKER INVESTOR DAY | G ROW TH IN TO SP ATIAL BIOLOGY Market Segmentation in Spatial Biology Discovery Research Translational Research Clinical Dx ( Academic ) Translational Pharma, Clinical Academic Research Research and Development HIGH PLEX LOW PLEX TRANSCRIPTOMICS + PROTEOMICS + OTHER MULTIOMICS
Slide 66: Why is Spatial Important – Provides in situ Positional Context of Cells in Tissue
BRUKER INVESTOR DAY | G ROW TH IN TO SP ATIAL BIOLOGY Why is Spatial Important – Provides in situ Positional Context of Cells in Tissue Spatial Biology provides new insights in how to diagnose and treat disease The Tumor Microenvironment What are and where are the cell What is the relationship betwe
Slide 67: Example of Bruker Innovation Fueling Growth
BRUKER INVESTOR DAY | G ROW TH IN TO SP ATIAL BIOLOGY Example of Bruker Innovation Fueling Growth The Transformation of Canopy Biosciences to a performance leader in Spatial Biology CANCER & IMMUNO- ONCOLOGY CellScape platform Bruker Canopy Biosciences Differentiated quantitative performance IMMUNOL
Slide 68: Growth into Spatial Biology
BRUKER INVESTOR DAY | SP ATIAL BIOLOGY Growth into Spatial Biology Acquisition and Transformation of Canopy Biosciences We saw an opportunity to add a pivot to create a play in CRO with mIF BRUKER state-of-the-art spatial biology with: protocols spatial proteomics ▪ Best-in-class, high resolution, m
Slide 69: © 2023 Bruker
© 2023 Bruker | |
Slide 70: Canopy CellScape
BRUKER INVESTOR DAY | G ROW TH IN TO SP ATIAL BIOLOGY Canopy CellScape The reality of getting to differentiated, quantitative results at high throughput with low hassle Key Features of Canopy Cellscape The Differentiating Truth That Matters Why You Should Really Care Multiple industry-leading Differ
Slide 71: Why is this differentiated, quantitative performance important?
BRUKER INVESTOR DAY | DIF F EREN TIATE D , QUANTITA T IV E P ERF ORMANCE Why is this differentiated, quantitative performance important? Highest Optical Resolution High Dynamic Range (HDR) Quantitatively phenotype all cells & True Single Cell Resolution & Quantitative AI Classify all cell types in t
Slide 72: Accurate and quantitative cell phenotyping with Canopy CellScape
Sample | Control Spleen Chip M3 Accurate and quantitative cell phenotyping Postion 23 with Canopy CellScape‘s high resolution, high dynamic range, and high plex Proliferating B cell CD45+ CD3- CD335- CD45R+ Ki67+ Regulatory T cell CD45+ CD3+ CD335- CD4+ CD8- FOXP3+ Cytotoxic T cell CD45+ CD3+ CD335-
Slide 73: Accurate and quantitative cell phenotyping with Canopy CellScape
Sample | Control Spleen Chip M3 Accurate and quantitative cell phenotyping Postion 23 with Canopy CellScape‘s high resolution, high dynamic range, and high plex Neutrophil CD45+ CD3- CD335- CD11c- F4/80- CD11b+ Ly6-G+ Dendritic cell CD45+ CD3- CD335- CD11c+ F4/80- M2 macrophage CD45+ CD3- CD335- CD1
Slide 74: Complete Phenotyping with Absolute Quantification of Cell Populations
BRUKER INVESTOR DAY | DIF F EREN TIATE D , QUANTITA T IV E P ERF ORMANCE Complete Phenotyping with Absolute Quantification of Cell Populations Sample ID Spleen (Leukemia) Femur (Leukemia) Spleen (Control) Femur (Control) Chip ID M1 M2 M3 M4 Cell % of % of Parent Cell % of % of Parent Cell % of % of
Slide 75: High plex and single cell resolution enable quantitative subtyping of immune cells
BRUKER INVESTOR DAY | DIF F EREN TIATE D , QUANTITA T IV E P ERF ORMANCE High plex and single cell resolution enable quantitative subtyping of immune cells in breast cancer Tumor Cytotoxic T Macrophage single cell resolution for all markers quantitative cell phenotyping Single cell resolution and hi
Slide 76: CellScape is the only platform capable of producing bivariate gating population clustering
BRUKER INVESTOR DAY | DIF F EREN TIATE D , QUANTITA T IV E P ERF ORMANCE CellScape is the only platform capable of producing bivariate gating population clustering, which picks up cell types our competitors miss Bivariate gating requires high resolution and high dynamic range images © 2023 Bruker In
Slide 77: Fast Time to Result with High Throughput, Whole Slide Imaging
BRUKER INVESTOR DAY | H IG H TH ROUGHP U T , F AST TIME TO RESULT Fast Time to Result with High Throughput, Whole Slide Imaging We have best-in-class throughput for plex > 8 High Throughput / Largest FOV at High Resolution Multiple Samples Per Run ▪ Largest FOV at High Spatial Resolution ▪ Don’t get
Slide 78: Straightforward, Reliable, Flexible Technique
BRUKER INVESTOR DAY | STRAIG H TF O RW AR D , RELIABLE TECHNIQUE Straightforward, Reliable, Flexible Technique 350+ validated antibodies ▪ Primary, monoclonal antibodies ▪ High specificity ▪ Don’t get fooled by cross reacti ity of a lot of secondary antibodies ▪ No custom conjugations that can disru
Slide 79: Actual High-Plex while keeping the integrity of the sample
DAY | HI -P LEX CAP ABILIT Y ACTUALLY REALIZED Actual High-Plex while keeping the integrity of the sample Canopy CellScape Protocol ▪ No harsh washes with Canopy platform Stain Think of the force and what it takes for the unbinding of readout probes in competitor systems (chemical interactions) ▪ Wh
Slide 80: Comprehensive study of breast tissue with 100 markers
Human breast carcinoma (100-plex study) Comprehensive study of breast tissue with SELECT CELL TYPES IDENTIFIED 100 markers T cells | CD8+ and CD4+ B cells | CD20+ NK cells | CD56+ Epithelial cells | pan-Cytokeratin+ …able to perform high-plex with quantitative Tumor cells | CD340+ (Her2) phenotyping
Slide 81: Canopy CellScape for spatial biology analysis
Canopy CellScape | for spatial biology analysis The differentiating truth that matters: Differentiated, Quantitative Performance Straightforward, Reliable Technique Fast Time to Result, High Throughput High-Plex Capability Actually Realized © 2023 Bruker Innovation With Integrity | June 15, 2023 | 8
Slide 82: Innovation With Integrity
Innovation With Integrity
Slide 83: Neuroscience
BN ANO NEUROSCIEN CE Neuroscience Mark R. Munch, Ph. D. President, Bruker NANO Group
Slide 84: Spatial Biology Built Off Key Core Competencies
BN ANO NEUROSCIEN CE Spatial Biology Built Off Key Core Competencies PROJECT ACCELERATE 2.0 ACCELERATED GROWTH OPPORTUNITIES NEUROSCIENCE SPATIAL BIOLOGY ORGANOID IMAGING EXTRACELLULAR VESICLES IMMUNOLOGY Core Competency in Fluorescence Imaging © 2023 Bruker Innovation With Integrity | June 15, 2023
Slide 85: The Importance of Neuroscience Research
BN ANO NEUROSCIEN CE The Importance of Neuroscience Research Brain Disorders: An Escalating Public Health Crisis $3T 600 PREVELANCE GLOBAL ECONOMIC COST BRAIN DISORDERS 12.5% of people living with a brain disorder The global economic burden of brain disorders is There are 600 types of neurological,
Slide 86: Fluorescence Microscopy Application Areas In Neuroscience
BNANO NEUROSCIENCE Fluorescence Microscopy Application Areas In Neuroscience Whole brain imaging Microscopy Brain organoids Luxendo Light-Sheet Microscopy Ultima 2-Photon Microscopy Brain circuit mapping and manipulation Ultima 2-Photon Microscopy Inscopix 1-P Microscopy Spatial phenotyping / Spatia
Slide 87: Innovation With Integrity
Innovation With Integrity
Slide 88: Medium-Term Financial Outlook – 2023 to 2026
INVESTOR DAY 2023 Medium-Term Financial Outlook – 2023 to 2026 Gerald Herman Executive Vice President & Chief Financial Officer June 15, 2023 Innovation with Integrity
Slide 89: Reminder: FY 2023 Outlook
IN VESTOR DAY 2 0 2 3 Reminder: FY 2023 Outlook Guidance (Unchanged from May 4, 2023) FY 2023 Non-GAAP Assumptions (as of May 4, 2023) FY 2023 Guidance ▪ Operating profit growth 8%-10%; ▪ Operating margin decline ~70 bps Revenue (in $B) $2.83 to $2.88 billion ▪ Accelerating R&D to ~10% of revenue, w
Slide 90: Transformation of Bruker Revenue Portfolio - Project Accelerate 2.0
IN VESTOR DAY 2 0 2 3 Transformation of Bruker Revenue Portfolio - Project Accelerate 2.0 (1) (1) 2022 BSI END MARKET MIX 2022 BRUKER PA 2.0 SHARE 2022 BSI GEOGRAPHIC MIX Applied/Food Semi-Metrology 4% 10% Academic & Government Microbiology Bruker 34% 10% 39% Core 30% 36% PA 2.0 BioPharma 56% 16% In
Slide 91: Organic Revenue - Significant Growth Acceleration 2021 - 2023
IN VESTOR DAY 2 0 2 3 Organic Revenue - Significant Growth Acceleration 2021 - 2023 ORGANIC REVENUE GROWTH (1) 19.1% (2) 10.2% 10.0% 5.7% 3.6% 4.3% -6.0% 2017 2018 2019 2020 2021 2022 2023G ➔ Clear Evidence of Sustained Project Accelerate 2.0 – driven organic revenue growth acceleration (1) Reconcil
Slide 92: Increasing Margins and Earnings - Driving Shareholder Value
IN VESTOR DAY 2 0 2 3 Increasing Margins and Earnings - Driving Shareholder Value (1) (1) (1) NON-GAAP GROSS MARGIN NON-GAAP OPERATING MARGIN NON-GAAP EPS (2) (2) (2) 2017-2023G 2017-2023G 2017-2023G $2.57 53.3% $2.34 52.6% 20.0% 19.4% $2.10 19.3% 51.1% 17.6% $1.57 50.0% 16.8% $1.40 $1.35 49.0% 15.9
Slide 93: Medium Term Outlook - Key Drivers of Higher Revenue Growth
IN VESTOR DAY 2 0 2 3 Medium Term Outlook - Key Drivers of Higher Revenue Growth Microbiology & MDx Project Accelerate 2.0 Biopharma & Applied HSD Next-gen Nano & Semi Metrology Proteomics Aftermarket, Consumables & Software DD Spatial Biology Bruker Core MSD $1.6B $1.3B Expected Organic Revenue Gro
Slide 94: Key Strategic Pillar - Operational Excellence & Productivity Investments
IN VESTOR DAY 2 0 2 3 Key Strategic Pillar - Operational Excellence & Productivity Investments ▪ Excellence in Operations, Commercial and Product R&D ▪ Driving growth, expanding gross and operating margins ▪ Proven progress and foundation for further investments and sustainable growth ▪ Strong focus
Slide 95: R&D Investment - Advancing Purposeful Innovation
IN VESTOR DAY 2 0 2 3 R&D Investment - Advancing Purposeful Innovation R&D AS % OF REVENUE 10% 10% Industry-leading R&D investment in Project Accelerate 2.0 initiatives 9% ▪ Drives product innovation and accelerates revenue growth ▪ Focus on fast growing opportunities in proteomics & spatial biology
Slide 96: Free Cash Flow (FCF) – Investing in Accelerating Growth and Margin Expansion
IN VESTOR DAY 2 0 2 3 Free Cash Flow (FCF) – Investing in Accelerating Growth and Margin Expansion $millions OPERATING CASH FLOW (OCF) 2017-2022 CAPITAL EXPENDITURES 2017-2022 $350 6.0% $332 4.9% 5.1% $282 $274 $300 5.0% $240 $250 3.8% $213 3.5% 4.0% $200 $154 2.5% 2.6% 3.0% $150 $129 $97 $92 2.0% $
Slide 97: Innovation driving Sustainability - 2023 Sustainability Report
IN VESTOR DAY 2 0 2 3 Innovation driving Sustainability - 2023 Sustainability Report Expanded ESG report published early this week Active environmental impact management ▪ 39% renewables of total energy consumed ▪ Additional sustainable energy initiatives underway ▪ >65% of waste recycled or reused
Slide 98: Capital Deployment Strategy - Strong ROIC Consistently >20%
IN VESTOR DAY 2 0 2 3 Capital Deployment Strategy - Strong ROIC (1) Consistently >20% OUTSTANDING ROIC PERFORMANCE IS CLEAR EVIDENCE OF DISCIPLINED ENTREPRENEURIALISM 27.3% 27.0% 26.5% 27.6% 24.3% 21.2% 20.0% 2017 2018 2019 2020 2021 2022 Invest ▪ ▪ Above peer R&D investment ~10% Commercial investme
Slide 99: Medium-Term Outlook 2023 - 2026
IN VESTOR DAY 2 0 2 3 Medium-Term Outlook 2023 - 2026 Expect organic revenue growth 200-300 bps above market (4-6%) Towards $3.5B revenue, $3.50 non-GAAP EPS - and beyond EXPECT ORGANIC EXPECT NON-GAAP OPERATING MARGIN EXPECT NON-GAAP EPS REVENUE CAGR OF 6%-8% EXPANSION OF 170-270 BPS GROWTH OF 10%-
Slide 100: Medium-Term Financial Outlook for FY2026
INVESTOR DAY 2023 CONCLUSION Medium-Term Financial Outlook for FY2026 ▪ Revenue: $3.4B - $3.6B ▪ organic revenue growth 200-300 bps above market ▪ BSI Gross Margin >56% ▪ OPM: 21.0% - 22.0% ▪ with R&D opex investment at ~10% of revenues ▪ Non-GAAP EPS: $3.40 - $3.70 ▪ tax rate below 27% ▪ accelerati
Slide 101: Appendix
INVESTOR DAY 2023 Appendix 101
Slide 102: Reconciliation of GAAP Reported Revenue Growth to Organic Revenue Growth
IN VESTOR DAY 2 0 2 3 Reconciliation of GAAP Reported Revenue Growth to Organic Revenue Growth [$ m] 2017 2018 2019 2020 2021 2022 GAAP revenue as of prior comparable $1,611.3 $1,765.9 $1,895.6 $2,072.6 $1,987.5 $2,417.9 period Non-GAAP adjustments: Acquisitions and divestitures 77.2 28.2 118.4 10.5
Slide 103: Reconciliation of Non-GAAP Operating Income, Profit Before Tax, Net Income, and EPS
IN VESTOR DAY 2 0 2 3 Reconciliation of Non-GAAP Operating Income, Non-GAAP Profit Before Tax, Non-GAAP Net Income, and Non-GAAP EPS [$ m, except per share amounts] 2017 2018 2019 2020 2021 2022 GAAP operating income* $219.5 $262.4 $300.9 $248.3 $413.3 $432.7 Non-GAAP adjustments: Restructuring cost
Slide 104: Reconciliation of Non-GAAP Gross Profit
IN VESTOR DAY 2 0 2 3 Reconciliation of Non-GAAP Gross Profit [$ m] 2017 2018 2019 2020 2021 2022 GAAP gross profit* 816.0 900.0 995.3 939.8 1,209.6 1,305.7 Non-GAAP adjustments: Restructuring costs 5.6 2.6 5.2 3.8 3.4 0.9 Acquisition-related costs 5.7 3.9 12.2 0.8 0.7 0.4 Purchased intangible amort
Slide 105: Reconciliation of GAAP and Non-GAAP Interest & Other Income (Expense), net
IN VESTOR DAY 2 0 2 3 Reconciliation of GAAP and Non-GAAP Interest & Other Income (Expense), net [$ m] 2017 2018 2019 2020 2021 2022 GAAP Interest & Other Income (Expense), $(21.7) $(17.7) $(20.5) $(22.5) $(19.7) $(20.4) net Non-GAAP Adjustments: - - - - - Sale of Product Line - - - - - - Bargain Pu
Slide 106: Reconciliation of GAAP and Non-GAAP Earnings Per Share (Diluted)
IN VESTOR DAY 2 0 2 3 Reconciliation of GAAP and Non-GAAP Earnings Per Share (Diluted) [$] 2017 2018 2019 2020 2021 2022 GAAP Earnings Per Share (Diluted) $0.49 $1.14 $1.26 $1.02 $1.81 $1.99 Non-GAAP adjustments: Restructuring costs 0.10 0.06 0.01 0.10 0.05 0.03 Acquisition-related costs 0.06 0.05 0
Slide 107: Reconciliation of GAAP Operating Cash Flow and Non-GAAP Free Cash Flow
IN VESTOR DAY 2 0 2 3 Reconciliation of GAAP Operating Cash Flow and Non- GAAP Free Cash Flow [$ m] 2017 2018 2019 2020 2021 2022 GAAP operating cash flow $154.4 $239.7 $213.4 $332.2 $282.4 $274.4 Non-GAAP Adjustments: Purchases of property, plant and (43.7) (49.2) (73.0) (97.2) (92.0) (129.2) equip
Slide 108: Reconciliation of Non-GAAP Return on Invested Capital (ROIC)
IN VESTOR DAY 2 0 2 3 Reconciliation of Non-GAAP Return on Invested Capital (ROIC) [$ m] 2017 2018 2019 2020 2021 2022 Non-GAAP operating income* $280.9 $317.9 $364.0 $317.2 $470.2 $505.6 Less: Non-GAAP Income Tax (64.7) (78.5) (96.6) (82.9) (126.1) (134.4) Provision Non-GAAP operating income after
Slide 109: Non-GAAP Financial Measures
IN VESTOR DAY 2 0 2 3 Non-GAAP Financial Measures Additional information regarding our use of non-GAAP financial measures, including how we define and calculate such non-GAAP financial measures, is included on page 37 under Item 7— Management’s Discussion and Analysis of Financial Condition and Resu
Slide 110: Innovation with Integrity
Innovation with Integrity
Slide 111: Presenter Bios
INVESTOR DAY 2023 Presenter Bios Innovation with Integrity
Slide 112: Frank H. Laukien, Ph.D. Chairman, President and CEO
EXECUTIVE BIO Frank H. Laukien, Ph.D. Chairman, President and CEO, Bruker Corporation ▪ Chairman, President and CEO of Bruker, and Bruker’s largest stockholder ▪ Leading Project Accelerate & Operational Excellence, and unique Bruker culture ▪ Brings perspective of significant stakeholder with in-dep
Slide 113: Mark R. Munch, Ph.D. President, Bruker NANO Group
EXECUTIVE BIO Mark R. Munch, Ph.D. President, Bruker NANO Group and Corporate Executive Vice President ▪ President, Bruker Nano Group, with responsibility for the Group’s global operations. ▪ Executive Vice President of Bruker Corporation, focus on Bruker Management Processes and Global IT/ERP overs
Slide 114: Gerald Herman Executive Vice President and Chief Financial Officer
EXECUTIVE BIO Gerald Herman Executive Vice President and Chief Financial Officer ▪ Chief Financial Officer since June 2018, after being named Interim Chief Financial Officer in March 2018. ▪ Joined Bruker in 2016 as Vice President and Corporate Controller. ▪ Track record of senior executive position
Slide 115: Rohan A. Thakur, Ph.D. President, Life Sciences Mass Spectrometry Division
EXECUTIVE BIO Rohan A. Thakur, Ph.D. President, Life Sciences Mass Spectrometry Division • President, Bruker LSMS Division, with responsibility for global operations. • Over 25 years of experience in mass spectrometry, including 14 years in applications and MS development and owner of several patent
Slide 116: Xiaomei Li, Ph.D. Vice President and GM, Bruker Fluorescence Microscopy
EXECUTIVE BIO Xiaomei Li, Ph.D. Vice President and GM, Bruker Fluorescence Microscopy Business Unit ▪ Vice President and GM, Bruker FM Business Unit, with responsibility for the business unit’s global Operations ▪ Over 8 years managing the FM Business Unit ▪ ~ 30 years of experience in scientific In
Slide 117: Kunal K. Ghosh, Ph.D. CEO, Inscopix
EXECUTIVE BIO Kunal K. Ghosh, Ph.D. CEO, Inscopix ▪ CEO, Inscopix, leading the Inscopix Business Unit post-acquisition. ▪ Built Inscopix to >$20M in annual revenues, 80 FTEs, and into a recognized global leader in head-mounted fluorescence microscopy for brain imaging in freely-behaving subjects. ▪
Slide 118: Innovation with Integrity
Innovation with Integrity