Nordhealth As · OSL:NORDH
Nordhealth As — Q2 2022 Earnings Presentation
23 slides from Nordhealth As's earnings presentation, Aug 16, 2022
Slide 1: Q2 2022 Presentation
(X] nordhealth Q2 2022 Presentation August 16, 2022
Slide 2: Today's presenters
Today’s presenters Charles MacBain Mari Orttenvuori CEO CFO
Slide 3: Company updates
(X) nordhealth fo J Company updates Charles MacBain, CEO
Slide 4: Our mission
Our mission Improve the daily lives of healthcare professionals
Slide 5: Leading Nordic healthcare SaaS company expanding internationally
Leading Nordic healthcare SaaS company expanding internationallyw 2022 business ove: * We build & acquire practice management software (PMS) in select healthcare niches. Currently, our software solutions target veterinary, physiotherapy, psychotherapy, occupational and speech therapy clinics. Veteri
Slide 6: Acquisition history
Acquisition history Several acquisitions completed since 2005 | PROVET navisec Acquired Praktiikka > Entering the Acquired Provet Pet therapy segment Acquired Navicre = a it YOMA NovASOFT QB vei cos Acquired parts of Acquired Novasoft Yoma Consulting! Acquired Aspit Note: 1) Acquired Yoma Consulting
Slide 7: Q2 2022 KPIs
Q2 2022 KPls ip 33% total ARR growth LTM ARR @2 2022 EUR 29.7M Signed ARR Q2 2022 & 17% organic ARR growth LTM ARR G2 2022 S EUR 0.37 ARR per share Q2 2022 +8% organic new customer recruitments LTM ARR G2 2022 — 109% organic net retention rate LTM ARR G2 2022 OO (($)) SY 2.3% organic ARR gross churn
Slide 8: 33% YoY ARR growth
33% YoY ARR growth EURm 29.7 262 BSI @22021ARR —- Newsigned ARR__Net upsell ARR Churn 2.2022 ARR Acquisitions Acquisitions @2 2022 ARR excl. organic incl. acquisitions growth acquisitions
Slide 9: 16% QoQ ARR growth
16% QoQ ARR growth EURm 2 ~—”~ Strong ARR growth at 16% Q2’22 organic signed ARR growth of 3% Q2’22 acquisition signed ARR growth of 7% 25.6 0.0 +g 26.2 Net upsell ARR was negatively impacted by: + Revenue-based enterprise contracts in Therapy. Impact €0.2M + Aspit churn seasonality Veterinary ARR g
Slide 10: Q2 2022 Update
Q2 2022 Update Operational update New customers * Szymon Olko joins as new veterinary Engineering Director * Won tender for University of Cambridge * Previously director of engineering at Opera * Signed IVC Evidensia Denmark + Fabio Carneiro promoted to veterinary VP Product * Implementing IVC Evide
Slide 11: 2022 H1 Contribution Margin over 61% for established markets
2022 H1 Contribution Margin over 61% for established markets IN) Vet Established Recurring Revenues 49 Cost of Goods Sold -0.8 Customer Support -0,7 Country G&A. -0,5 Contribution Margin 1 2,9) Margin 59.7% General and Administrative Contribution Margin 2 Margin EUR in mi Expansion in veterinary gro
Slide 12: Financial updates
(X) nordhealth GCEOLIAO Financial updates Mari Orttenvuori, CFO
Slide 13: Strong H1 2022 with 93% recurring revenue
Strong H1 2022 with 93% recurring revenue Reported financials (EURm) 88% H1/22 revenue EUR 14.6M, up 79% YoY H1/22 recurring revenue EUR 13.6M, up 88% 13.6 YoY H1/22 EBITDA EUR -3.1M 81 . Continue re-investing profits from 12 established markets to grow ARR in growth markets -0.4 -34 m Revenue Recur
Slide 14: Strong revenue growth in Q2 2022 vs. Q2 2021
Strong revenue growth in Q2 2022 vs. Q2 2021 Reported financials (EURm) 48 43 -2.0 m Revenue Recurring revenue EBITDA Q2’21 Q2'22 Q2’22 revenue EUR 7.5M, up 57% YoY Q2’22 recurring revenue EUR 7.1M, up 68% YoY Q2’22 EBITDA EUR -2.0M Q2’21 EBITDA includes €2.4M IPO and M&A related costs
Slide 15: Profit & Loss Statement
Profit & Loss Statement ‘onsolidated Income Statemer Unaudited Unaudited Unaudited Unaudited Audited Recurring revenue 1144 4258 13 596 1230 18 464 Other revenue 365 527 968 899 1836 Total revenues 7509 4785 14565 8129 20300 Other operating income 6 4 65 20 31 Total operating income 7570 4789 14630
Slide 16: Balance Sheet
Balance Sheet Consolidated Balance Sheet Unaudited Unaudited EUR in thousands 30-Jun-22 30-Jun-21 Intangible assets 7 687 3057 Deferred tax assets 43 74 Other capitalized long-term expenses 48 142 Goodwill 61685 43277 Machinery and Equipment 857 534 Other shares and similar rights of ownership 834 1
Slide 17: Cashflow
Cashflow olidated Cash Flow Statem Unaudited Unaudited Unaudited Audited EUR in thousands Q2 2022 H12022 12021 FY 202] Cash flow from operations Profit before income taxes (3 452) 6368) — (2048) (4.646 Taxes paid in the period (48) (63) (129) (36) Non-cash items 43 904 308 905 Depreciation and amort
Slide 18: 2022 Financial calendar
2022 Financial calendar Q3 2022 results presentation on 25 November 2022 fo fo 8
Slide 19: Forecasting 20% signed organic ARR growth in 2022, excluding acquisitions
Forecasting 20% signed organic ARR growth in 2022, excluding acquisitions ARR Forecast Outlook and final remarks EUR in millions Forecast YE 2021 ARR 24.0 Organic Growth (excl. 2022 acquisitions) 48 EasyPractice 22 Vetera 15 Other acquisitions - YE 2022 ARR 32.5 Latest 2022 year-end forecast €32.5M
Slide 20: Q&A
Slide 21: (X] nordhealth
(X] nordhealth
Slide 22: Appendix
Appendix Qu Foo oo
Slide 23: Our products
Our products IN) Electronic Health . . . Occupational and Speech , Record Software Veterinary Physiotherapists therapists Psychotherapists World Leading position Leaders in Norway and Finland, aiming to expand Practice Management AgeiitimeniCehandtav Unified Communication Inventory management Invoic