Abingdon Health Plc · LSE:ABDX
Abingdon Health — FY2024 Earnings Presentation
13 slides from Abingdon Health's earnings presentation, October 2024
Slide 1: Preliminary results for the Year ended 30 June 2024
Preliminary results for the Year ended 30 June 2024 Chris Yates - CEO Chris Hand - Chairman October 2024
Slide 2: Expertise in Lateral Flow
Expertise in Lateral Flow Dr Chris Hand Chris Yates Mary Tavener Max Duckworth Chairman, Chief Executive Officer Director, Board Member Board Observer Board Member Board Member • Co-founder of Abingdon Health • Co-founder of Abingdon Health • Senior Independent NED of • Early investor and board memb
Slide 3: Contents
Contents Introduction Market and strategic overview Preliminary results highlights Recent acquisitions Key strategic initiatives Summary & outlook IMPROVING LIFE BY MAKING RAPID TESTING ACCESSIBLE TO ALL 3
Slide 4: Introduction
Introduction • Dedicated lateral flow research, development & manufacturing (CRO & CDMO), offering a range of additional services to support a wide range of customers: Regulatory Analytical laboratory service & clinical trial support Packaging design & packaging service Commercialisation • A
Slide 5: Abingdon and its market
Abingdon and its market • Focused on the Lateral Flow market which is large and growing: $23bn market forecast (2027): product mix changing COVID-19 widespread use of lateral flow has reduced barriers to adoption Technology is simple, cost-effective, easy-to-use Supports decentralisation of
Slide 6: Focused Strategy
Focused Strategy Lateral Broaden and Self-testing Expand range Flow CRO & deepen service lateral flow sales and reach CDMO offering & distribution 1 2 3 4 • Lateral flow experts • Grow customer base • Range of 15 self-tests under the • Abingdon Simply Test® will be • CRO & CDMO service Abingdon Simp
Slide 7: Financial Highlights
Financial Highlights Strong commercial progress across the Group FY 2024 revenue of £6.1m, 52% ahead of FY 2023 (49% excluding acquisition) H2 2024 showed revenue growth of 55% compared to H1 2024 Gross margin of 60% (2023:51%) Q4 2024 was cashflow positive Strong revenue growth from a d
Slide 8: Operational Highlights
Operational Highlights 51% year-on-year growth in CRO/CDMO revenues business year-on-year Three customer products transitioned into manufacturing in FY24: Salignostics (saliva pregnancy test) LoopDX (sepsis) Up Front Diagnostics (stroke) Good progress with Abingdon products in H2 2024 (r
Slide 9: Recent Acquisitions
Recent Acquisitions • Acquisition of IVDeology in May 2024, a UK-based provider of regulatory services to the IVD market Strengthens Abingdon’s existing regulatory service offering regulatory “fee for service” business model across UKCA, IVDR & Quality Management Systems Significant recent and o
Slide 10: Expansion into USA & Board/Exec changes
Expansion into USA & Board/Exec changes • Abingdon is planning to open a commercial office and R&D laboratory in the United States during Q3 of calendar year 2024 • USA has the largest diagnostics market globally, accounting for 39% of the global market (Source: Vision Research Reports) • Chris Yate
Slide 11: Product development
Product development The recent placing provided funds which will be applied to product development – both to provide an enhanced offering to our CDMO customers and standalone products. Examples include: Use of a lateral flow assay combined with molecular testing allows sensitive results to be
Slide 12: Analytical Laboratory Expansion
Analytical Laboratory Expansion The Group will invest up to £1.0m of the proceeds of the recent placing to strengthen its analytical laboratory service. Added synergies present via IVDeology and Compliance Solutions (Life Sciences) The Group has been providing this service since 2023 as part of its
Slide 13: Summary & outlook
Summary & outlook • Solid commercial progress, with FY2024 revenues 52% ahead of FY2023 • Enhanced service offering with acquisitions of IVDeology and Compliance Solutions Life Sciences group • Further service expansion through investment in analytical laboratory service • Board anticipates continue