Xvivo Perfusion Ab · OMXSTO:XVIVO
Xvivo Perfusion Ab — Q2 2023 Earnings Presentation
22 slides from Xvivo Perfusion Ab's earnings presentation, Jul 13, 2023
Slide 1: Interim report Q2 2023
Interim report Q2 2023 Earnings call, July 13, 2023 1
Slide 2: Today's presenters
Today’s presenters Christoffer Rosenblad, CEO Kristoffer Nordström, CFO
Slide 3: Q2 Financials – at a glance
Q2 Financials – at a glance Organic Growth Net Sales Thoracic Disposable sales SEK 155 Million • Net Sales • Gross margin SEK 104 million Disposables 84% +47% Sales growth Abdominal Disposable sales Total 64% • Net Sales SEK 30 million - Organic growth 46 % • Gross margin Disposables 70% +40% - Acqu
Slide 4: YTD Financials – at a glance
YTD Financials – at a glance Organic Growth Net Sales Thoracic Disposable sales SEK 295 Million • Net Sales • Gross margin SEK 195 million Disposables 85% +40% Sales growth Abdominal Disposable sales Total 58% • Net Sales SEK 61 million - Organic growth 39 % • Gross margin Disposables 67% +56% - Acq
Slide 5: Q2 Highlights
Q2 Highlights 5
Slide 6: Positive momentum for XVIVO paradigm changing heart technology
Positive momentum for XVIVO paradigm changing heart technology Patient inclusion completed in European heart trial 202 patients enrolled across 15 leading transplant centers in 8 European countries Strong feedback from leading transplant surgeons Targeting commercial launch first half 2024 Gre
Slide 7: Positive momentum for XVIVO paradigm changing heart technology
Positive momentum for XVIVO paradigm changing heart technology IDE application approved by the US FDA • Trial to include 141 patients • Recommendation from FDA to include DCD inclusion criteria in study design • Patient enrolment expected to start 2nd half 2023 – Pending final protocol approval incl
Slide 8: STAR Teams integration and commercial development
STAR Teams integration and commercial development • Becoming the preferred partner in the transplant process • Strengthened value proposition under one brand and one organisation • Associated one-time costs: 11m SEK in Q2, 11m SEK H2 2023 • Strategic collaboration with MTJ Aviation to guarantee pred
Slide 9: Clinical pipeline
Clinical pipeline 9
Slide 10: Clinical Trial Status & Tentative Timeline
Clinical Trial Status & Tentative Timeline Regulatory Market Preclinical Clinical Review Approval • IDE approval in May • Trial to include 141 patients Patient enrolment • High impact centres engaged expected H2 2023* and sites qualified • All planned 15 centers active across 8 countries Commercial
Slide 11: Further patient inclusion in PrimECC study closed – strategic options to be evaluated
Further patient inclusion in PrimECC study closed – strategic options to be evaluated • PrimECC is a solution used to prime the heart-lung machine before heart-surgery • Study initiated in 2020. Further patient inclusion closed due to pace of patient recruitment below expectations • Study data will
Slide 12: Financial Performance Q2
Financial Performance Q2 12
Slide 13: Net sales and results in Q2
Total Sales Net sales and results in Q2 growth Q2 64% Apr-Jun Apr-Jun YTD YTD SEK Million 2023 2022 2023 2022 Net sales 155 94 295 187 Sales growth, % 64 % 28 % 58 % 59 % Whereof organic growth, % 46 % 16 % 40 % 30 % Gross profit 115 67 220 133 Gross margin, % 75 % 72 % 75 % 71 % EBIT (adj) 15 4 28
Slide 14: Thoracic – Q2 Highlights
Thoracic – Q2 Highlights Net Sales Net sales by Net sales by product Net sales SEK 105 million (69) region category Organic growth disposables 4% 2% 47 % (24 %) 25% Gross margin disposables 46% 52% 84 % (82) 11% 64% 96% XPS machines Americas Machine perfusion Machines Disposables delivered APAC Stat
Slide 15: Abdominal – Q2 Highlights
Abdominal – Q2 Highlights Net Sales Net sales by Net sales by Net sales SEK 30 million (15) region product category Organic growth disposables 5% 11% 40 % (93) 3% 0% Gross margin disposables 70 % (56) 86% 95% 100% Total growth Americas Machine perfusion Machines Disposables disposables, local APAC c
Slide 16: Services – Q2 Highlights
Services –Q2 Highlights Net Sales Q2 Recovery cases Q2 Case trend Growth YTD Net Sales (SEK) 2 27% 20m 150 Growth R12 20% Sales growth 71 77 79% Cases R12 Hearts Lungs 564 Heart-Lung block 16
Slide 17: EBITDA
EBITDA EBITDA (adj) Q2 19% EBITDA (adj), R12 months EBITDA (adj), by quarter SEKm SEKm 100 25,0% 35 25,0% Comments Q2 90 83 22,5% 22,5% 29 80 20,0% 30 • R12 Trend continues with 20,0% 25 increased EBITDA 70 66 17,5% 25 17,5% 60 56 15,0% 20 15,0% • Primarily driven by increased 20 50 46 12,5% 12,5% g
Slide 18: Financial position and cash flow (Jun 30, 2023)
Financial position and cash flow (Jun 30, 2023) Cash flow from Q2 financials Comments Q2 operating activities (SEK million) • Cash flow from operating • Positive operating cashflow activities SEK +16 million (-2) R12 from strenghtened EBITDA, 50 +43m despite further spend on • Investments SEK -47 mi
Slide 19: Outlook
Outlook tet L _-
Slide 20: Long term outlook
Long term outlook • The demand for transplants are x 10 of today’s supply • Sales value of machine perfusion vs cold static storage is ~x 10 • Machine perfusion has proven to increase the number of organs used for transplantation • XVIVO has unique, innovative and world leading products on the marke
Slide 21: Outlook 2023
Outlook 2023 • Machine perfusion – continued momentum through hub and service models • Kidney Assist Transport – Continued introduction in the US and Europe • Project to scale up production x 10 • Heart – Prepare for commercial launch Europe and ANZ. Start PMA trial in the US • Liver – Prepare for t
Slide 22: Nobody should die waiting for a new organ
Our vision Nobody should die waiting for a new organ 22