Kuros Biosciences Ltd. · SIX:KURN
Kuros Biosciences — H1 2025 Earnings Presentation
19 slides from Kuros Biosciences's earnings presentation, Aug 14, 2025
Slide 1: Growing with Kuros
Growing with Kuros H1 2025 Financial Results & Strategic Outlook August 14, 2025 Ticker: KURN SIX Swiss Stock Exchange 1
Slide 2: Disclaimer
Disclaimer – This presentation is private and confidential, has been furnished to you solely for your information and may not be reproduced, redistributed or disclosed in any way, in whole or in part, directly or indirectly, in or into the United States or the United Kingdom, Canada, Australia, Japa
Slide 3: Stable growth & key milestones in H1 2025 fuel mid-term outlook
Stable growth & key milestones in H1 2025 fuel mid-term outlook +78% 70 $64 Key achievements support growth trajectory 60 – MagnetOs MIS First Cases – U.S. FDA 510(k) clearance and first cases with MagnetOs MIS Delivery System – Extremities Momentum – Volume growth and sales performance on target 50
Slide 4: Expanded reach & recognition across hospitals, surgeons & distributors
Expanded reach & recognition across hospitals, surgeons & distributors – Strong market share & brand recognition growth over past 3 years Hospital penetration – +94% growth in sales agents and distributors* Number of hospitals ordering MagnetOs – +81% increase in hospital penetration* 600 – Medtroni
Slide 5: International expansion continues to deliver high-profit growth in focus markets
International expansion continues to deliver high-profit growth in focus markets Regulatory registrations 2025 - Lebanon - Brazil On-going registrations 2025 - Saudi Arabia - Jordan - Oman - Kuwait - Qatar Markets under consideration - Canada - Singapore - Japan - LATAM Blue: Registration completed
Slide 6: Early momentum in Extremities sets stage for growth
Early momentum in Extremities sets stage for growth Team executing per plan, targeting $440M Global Foot & Ankle segment Key initiatives H1 SAB • Expert engagement for SAB Greg Berlet, MD (US) Pete Mangone, MD (US) Carlos Sagebien, MD (US) Andy Goldberg OBE (UK) − Mr. Andy Goldberg OBE (U.K.) − Greg
Slide 7: Market-leading evidence generation sets Kuros apart competitively
Market-leading evidence generation sets Kuros apart competitively Redefining the standard: providing the data that surgeons and hospitals need Biologic Type Highest Level of Evidence Allografts Level IV–V1 CBAs Mostly Level III–IV1 DBMs Mostly Level III–IV (Except Grafton LI)2 Synthetics Mostly Leve
Slide 8: Operationally, turning economies of scale into profitability
Operationally, turning economies of scale into profitability Operating Leverage Exceptional Growth Trajectory: Achieved ~900% growth in sales and volumes from H1 2022 to H1 2025, while fixed costs rose by 70,000 150% G&A R&D* S&M excl. Comm Revenue Fixed costs as % revenue ~300% over the same peri
Slide 9: Maintaining margins while expanding into new indications and regions
Maintaining margins while expanding into new indications and regions Gross margin Sales & Marketing MagnetOs 80,000 95% 40,000 150% Gross margin % Sales & Marketing as % of revenue 60,000 90% 30,000 100% USD ‘000 USD ‘000 40,000 85% 20,000 50% 20,000 80% 10,000 - 75% - 0% H1 H2 H1 H2 H1 H2 H1 H2 H1
Slide 10: Driving innovation, clinical evidence and business transformation
Driving innovation, clinical evidence and business transformation Research & Development* General & Administrative 5,000 40% 15,000 80% R&D as % of revenue G&A as % of revenue 4,000 30% 60% USD ‘000 10,000 USD ‘000 3,000 20% 40% 2,000 5,000 10% 20% 1,000 - 0% - 0% H1 H2 H1 H2 H1 H2 H1 H2 H1 H1 H2 H1
Slide 11: Resulting in an adjusted EBITDA margin of 12.3%
Resulting in an adjusted EBITDA margin of 12.3% Group EBITDA* Adjusted EBITDA** 6,000 20% 8,000 EBITDA as % of revenue -10% 7,000 3,000 2,706 6,000 -40% ‘000 - 5,000 USDTitle USD ‘000 -70% 4,000 7,779 Axis (3,000) 3,000 -100% 5,073 2,000 (6,000) -130% 1,000 (9,000) -160% 0 H1 H2 H1 H2 H1 H2 H1 H2 H1
Slide 12: Securing a financial basis for organic growth
Securing a financial basis for organic growth Cash development H1 2025 Securely financed for organic path forward USD ‘000 Jun 30, 2025 7.8 9.1 Cash and cash equivalents 18,442 19.8 Trade and other receivables 26,886 18.4 18.4 0.2 1.1 1.2 Total cash and cash equivalents, 45,328 trade and other recei
Slide 13: Geographic expansion, diversification & redesign of supply chain
Geographic expansion, diversification & redesign of supply chain to de-risk the business and optimize tariffs & tax Diversify, de-risk & prepare for further organic growth Doubling capacity in NL, again New production facility in U.S. – production go live H2 2026 Bilthoven Zurich Levers to modif
Slide 14: Driving milestones to transform and optimize the business model
Driving milestones to transform and optimize the business model STRATEGY Sales & Marketing Functional expansion and extension Reporting currency changed to USD FRONT END Increased visibility through a capital market day and 2 new analysts SALES Powers the FX mechanism implemented to hedge En
Slide 15: MagnetOs now supports improved surgical precision for MIS procedures
MagnetOs now supports improved surgical precision for Minimally Invasive Surgery (MIS) procedures What is MIS – and why does it matter? Open Transforaminal Lumbar Interbody Fusion (TLIF)1 MIS TLIF1 Engineered for MIS Potential Benefits2: Introducing the precise delivery & − Better cosmetic results p
Slide 16: New product launch revolutionizes MIS: A smarter way to deliver bone graft
New product launch revolutionizes MIS: A smarter way to deliver bone graft MagnetOs MIS is the only MIS bone graft delivery system that is: − Sterile1 − Prefilled1 − Contains no human tissue1 − Containing a bone graft whose mechanism of action (MOA) is supported by Level I clinical evidence2 All whi
Slide 17: The only MIS system designed to meet all surgeon needs in MIS delivery
The only MIS system designed to meet all surgeon needs in MIS delivery MagnetOs MIS is the only MIS bone graft delivery system that is sterile, prefilled, contains MagnetOs MIS 1,2 no human tissue with no need for thawing, with a MOA supported by Level I clinical MIS Delivery Device Critical evidenc
Slide 18: Strategic growth funnel to $250M: 2025 momentum powers 2027 ambition
Strategic growth funnel to $250M: 2025 momentum powers 2027 ambition Commercial Growth Drivers • Spine & extremity segments driving growth → Continued expansion in foot & ankle, trauma (2026) 2027 • Market share gains in U.S., EU, RoW USD 220-250 million sales* → Targeting ~20 new registrations (202
Slide 19: Thank you
Thank you MAT-0184 19