Dri Healthcare Trust · TSX:DHT.U
Dri Healthcare Trust — Q1 2022 Earnings Presentation
9 slides from Dri Healthcare Trust's earnings presentation, May 11, 2022
Slide 1: Advancing Science in the Fast Growing Pharmaceutical and Biotechnology Sector
ADVANCING SCIENCE in the Fast Growing Pharmaceutical and Biotechnology Sector Q1 2022 Earnings Call | May 11, 2022
Slide 2: Disclaimer
DISCLAIMER Certain statements made in this Q1 2022 earnings call presentation, including responses to questions, may contain forward-looking statements within the meaning of the safe harbor provisions of Canadian provincial securities laws. Forward-looking statements involve risks and uncertainties
Slide 3: Advancing Our Strategy
ADVANCING OUR STRATEGY Accretive Efficient capital Unitholder growth structure returns ▪ Funded Vonjo ▪ Expanded credit ▪ Declared distribution royalty transaction facilities to $350 of $0.075 per unit for $60 million in million ▪ $2.5 million in NCIB Q1 unit buyback 3
Slide 4: Q1 Financial Highlights
Q1 FINANCIAL HIGHLIGHTS Total Income $22.6 million Total Cash Receipts(1) $21.0 million Adjusted EBITDA(1) $17.8 million Adjusted Cash Earnings per Unit(1) $0.49 1. Total Cash Receipts and Adjusted EBITDA are non-GAAP measures. Adjusted Cash Earnings per Unit is a non-GAAP ratio. These measures are
Slide 5: Asset Performance
ASSET PERFORMANCE (US$ thousands) Pro Forma Total Cash Royalty Receipts(1) Q1 2022 Q1 2021 % Change Q4 2021 % Change Core Products Eylea 2,946 4,372 (33%) 4,964(2) (41%) FluMist 2,218 2,239 (1%) 910 144% Natpara 673 510 32% 634 6% Oracea 1,749 - n/a 2,303 (24%) Rydapt 2,963 2,601 14% 2,527 17% Spinr
Slide 6: Strong Cash Generation
STRONG CASH GENERATION Adjusted EBITDA for the Three Months Ended March 31, 2022 (US$M)(1) Adjusted EBITDA $21.3 ($1.4) $1.3 ($0.2) $21.0 ($1.8) Margin(4) ($1.4) $17.8 85% Adjusted Cash Earnings per Unit(5) US$0.49 (1) Royalty Net Change in Interest Income Non-Cash Royalty Total Cash Operating Manag
Slide 7: Strong Balance Sheet
STRONG BALANCE SHEET ▪ As at March 31, 2022: ▪ $30.0 million of cash and cash equivalents ▪ $31.6 million of royalties receivable ▪ $390.9 million net book value of royalty assets and loan receivable ▪ $71.0 drawn on credit facilities ▪ Upsized credit facility: On April 20, 2022, a subsidiary of th
Slide 8: Well Positioned for Growth
WELL POSITIONED FOR GROWTH Macro Environment Strong Pipeline Access to Capital The rapid pace of Robust pipeline of Approximately $280 innovation in the life transaction million of capacity on sciences has created a opportunities at various credit facilities plus significant demand for stages of exe
Slide 9: Our Key Priorities
OUR KEY PRIORITIES Grow asset Accretive Unitholder base growth returns Execute on strong Ahead of target Continue focus on pipeline to acquire pace of deployment unitholder returns royalties on high to grow top line and appropriate quality assets that royalty receipts and distribution policy meet ou