Slide 1: Q3 23 Presentation
Q3 23 Presentation 26 October 2023
Slide 2: Important notice
Important notice This presentation has been prepared by and is the sole which are subject to risks, uncertainties and other factors with applicable laws and regulations. The Company require responsibility of Gentian Diagnostics ASA (the “Company” that may cause actual events to differ materially fro
Slide 3: Efficient diagnostics for better treatment decisions
Efficient diagnostics for better treatment decisions
Slide 4: Introduction
Introduction
Slide 5: High-impact diagnostics with global commercial traction
High-impact diagnostics with global commercial traction Sales office, Sweden HQ, Norway Sales office, US Rep. office, China Total revenue 2022 4Y-CAGR Oslo listing Market cap MNOK 112 28% OSE: GENT MNOK ~660 Note: Market cap as per close on 29 September 2023.
Slide 6: Gentian develops and manufactures innovative and efficient diagnostic tests
Gentian develops and manufactures innovative and efficient diagnostic tests IN VITRO DIAGNOSTICS (IVD) GENTIAN DIAGNOSTICS • Tests done on samples that have been • Focused on Immunoassay, the taken from the human body such as largest IVD segment, where an blood. IVD can detect diseases, antibody1 is
Slide 7: Attractive value proposition: fast results at lower cost
Attractive value proposition: fast results at lower cost The IVD market challenge Gentian’s solution High-value benefits Many of the existing, but clinically Gentian converts existing biomarkers relevant biomarkers are available only to the most efficient automated, high- Faster results leading to b
Slide 8: Strategy with focus on profitable sales growth
Strategy with focus on profitable sales growth 8* tests contributing Industry-leading to saving costs and team and knowhow protecting life Team with proven track- USD 1.8bn serviceable record and industry market with 5-10% annual expertise from market growth leading IVD companies Entered partnership
Slide 9: Products targeting important disease groups
Products targeting important disease groups ESTABLISHED PRODUCTS IN MARKET DEVELOPMENT IN PRODUCT DEVELOPMENT Lifestyle Inflammation Pancreas Inflammation Cardiac Kidney disease Inflammation associated Inflammation & infection deficiency & infection disease diseases Cystatin C Canine CRP fCAL® fPELA
Slide 10: Gentian Retinol-Binding Protein (RBP)
Gentian Retinol-Binding Protein (RBP) Early indication of lifestyle associated diseases Efficient diagnosis and monitoring of lifestyle associated diseases like: • Vitamin A deficiency • Malnutrition • Diabetes • Renal dysfunction About Gentian RBP Advantages • Replace cumbersome and time-consuming
Slide 11: Good progress made on NT-proBNP
Good progress made on NT-proBNP Significant technical advancements with the current assay prototype • The majority of critical technical specifications were successfully met with the current assay prototype. • The impact of glycosylation on the clinical assessment will be further investigated. • Eva
Slide 12: USD 1.8bn global serviceable market estimated to grow by 5-10% annually
USD 1.8bn global serviceable market estimated to grow by 5-10% annually next 4-6 years Serviceable Market Total Addressable Total Serviceable Target market share, Gentian’s annual growth rate, Market, USDm Market, USDm unrisked revenue take next 4-6 years Established products 2,220 240* ~25% 30-50%
Slide 13: Long-term ambitions rooted in recent progress
Long-term ambitions rooted in recent progress Five established products with potential to grow 20%+ annually Prove clinical relevance of GCAL and bring NT-proBNP to market 7 products with combined net revenue potential of Bring a steady stream of new high-impact diagnostic tests to market NOKUnriske
Slide 14: Financial review
Financial review
Slide 15: Strong momentum and launch of new product
Strong momentum and launch of new product 3Q23 financials and key milestones Highlights • Sales of MNOK 32.1 in 3Q23, up 39% vs 3Q22 (29% organic growth). Sales Gross margin Revenue of MNOK 97.7 YTD 2023 up 33% (21% organic growth) vs the same period in 2022 MNOK 32.1 49% +39% vs 3Q22 45% in 3Q22 •
Slide 16: Continued high sales growth in line with target
Continued high sales growth in line with target Sales revenue - geographic split • Sales of MNOK 32.1 in 3Q23, up 39% vs 3Q22 (29% organic growth). MNOK 3Q23 3Q22 YTD23 YTD22 2022 Revenue of MNOK 97.7 YTD 2023 up 33% (21% organic growth) vs the same period in 2022 US 1.9 2.6 6.7 5.4 6.5 • Revenue gr
Slide 17: Stable cost development
Stable cost development MNOK OPEX Capitalised R&D expenses MNOK 3Q23 3Q22 YTD23 YTD22 Sales and marketing 5.4 3.8 16.6 15.2 expenses 2 1 1 1 Administration expenses 6.3 7.9 19.5 22.2 1 Research and 5.6 6.7 18.0 16.4 development expenses Total 17.3 18.4 54.1 53.8 18 19 19 18 17 • Total other operatin
Slide 18: Maintaining a healthy cash position
Maintaining a healthy cash position 3Q23 balance sheet and cash flow Capital priorities • OPEX of MNOK 19.6* and capex of MNOK 1.2 Cash Capex in 3Q23 MNOK 76.4 MNOK 1.2 • OPEX will increase as total number of products are MNOK 93.9 in 3Q22 MNOK 1.8 in 3Q22 launched and sales grow – limited increase
Slide 19: Q&A
Q&A
Slide 20: Appendix
Appendix
Slide 21: P&L highlights
P&L highlights MNOK 3Q23 3Q22 YTD23 YTD22 2022 Sales 32.1 23.1 97.7 73.7 101.6 Other revenues 2.7 2.0 6.9 7.3 10.3 Total revenues 34.8 25.1 104.5 81.1 111.9 COGS -16.3 -12.8 -46.2 -38.8 -52.6 Employee benefit expenses -13.0 -10.0 -35.4 -30.1 -40.9 D&A -2.4 -2.7 -7.1 -7.5 -10.2 Other OPEX -4.3 -8.4 -
Slide 22: Cash flow highlights
Cash flow highlights MNOK 3Q23 3Q22 YTD23 YTD22 2022 Operating activities -2.0 4.7 1.8 -5.5 -14.0 Investing activities -1.2 -1.8 -3.3 -12.3 -14.7 Financing activities -1.1 -1.1 -3.4 -3.2 -4.3 Changes in cash and cash equivalent -4.3 -1.8 -5.0 -21.1 -32.9 Cash and cash equivalent at the beginning of
Slide 23: Dedicated and experienced management team
Dedicated and experienced management team CEO Consulting Founder CFO & COO CCO CSO VP R&D VP QA & RA VP BD Dr. Hilja Dr. Erling Njaal Markus Dr. Alexandra Dr. Torsten Anne-Mette Jack Ibert Sundrehagen Kind Jaquemar Havelka Knüttel Horsrud Akre Andreassen 20+ years of relevant industry experience acr
Slide 24: Board of directors
Board of directors Tomas Espen T. Kari E. Kjersti Fredrik Monika Frank Settevik Jørgensen Krogstad Grimsrud Thoresen Neuman Frantzen Chair of Board member Board member Board member Board member Board member Board member the Board Tomas Settevik has Espen Tidemann Kari Krogstad has Kjersti Grimsrud i
Slide 25: Top 20 shareholders
Top 20 shareholders Shareholder No of shares % Vatne Equity AS 2 110 224 13.68 % Kvantia AS 1 623 368 10.53 % Holta Invest AS 1 228 502 7.97 % Verdipapirfondet Delphi Nordic 987 104 6.40 % Safrino AS 749 700 4.86 % Carpe Diem Afseth AS 544 089 3.53 % Skandinaviska Enskilda Banken AB 501 000 3.25 % V