Xvivo Perfusion Ab · OMXSTO:XVIVO
Xvivo Perfusion Ab — Q3 2023 Earnings Presentation
22 slides from Xvivo Perfusion Ab's earnings presentation, Oct 24, 2023
Slide 1: Interim report Q3 2023
Interim report Q3 2023 Earnings call, October 24, 2023 1
Slide 2: Today's presenters
Today’s presenters Christoffer Rosenblad, CEO Kristoffer Nordström, CFO
Slide 3: Q3 Financials – at a glance
Q3 Financials – at a glance Organic Growth Net Sales Thoracic Disposable sales SEK 147 million • Net Sales SEK 91 million • Gross margin Disposables 86% +23% Sales growth Abdominal Disposable sales Total 51% • Net Sales SEK 35 million - Organic growth 37 % • Gross margin Disposables 61% +100% - Acqu
Slide 4: YTD Financials – at a glance
YTD Financials – at a glance Organic Growth Net Sales Thoracic Disposable sales SEK 442 million • Net Sales SEK 286 million • Gross margin Disposables 85% +34% Sales growth Abdominal Disposable sales Total 56% • Net Sales SEK 96 million - Organic growth 39 % • Gross margin Disposables 65% +71% - Acq
Slide 5: Q3 Highlights
Q3 Highlights 5
Slide 6: Positive momentum for XVIVO paradigm changing heart technology
Positive momentum for XVIVO paradigm changing heart technology US IDE Clinical Trial for Heart preservation has started – approved for DCD donor inclusion • Duke University Hospital has completed the first transplant in mid-October • US FDA grants XVIVO approval to include DCD donors • Trial center
Slide 7: Positive momentum for XVIVO paradigm changing heart technology
Positive momentum for XVIVO paradigm changing heart technology Preparing for launch in Europe • Patient inclusion completed in Q2 • One year follow-up phase – patient outcomes being monitored • Technical and clinical documentation submitted to regulatory bodies for CE-mark (MDR): • Device, perfusion
Slide 8: Kidney Assist Transport status update
Kidney Assist Transport status update Continued introduction in key markets • Strong user feedback at all launch sites globally • First installation at a US OPO • All DCD kidneys pumped on KAT in the Netherlands • High interest in device in key markets – still selective launch contingent on producti
Slide 9: Directed share issue of SEK 440 million
Directed share issue of SEK 440 million Use of Proceeds Heart Liver Operations & Production Increased investment in US Fast-track preparation and Scale-up of disposable clinical trial infrastructure to start of the clinical trial & PMA production to ensure delivery create an efficient FDA PMA regula
Slide 10: Clinical pipeline
Clinical pipeline 10
Slide 11: Clinical Trial Status & Tentative Timeline
Clinical Trial Status & Tentative Timeline Review & Market Preclinical Clinical Follow-up Approval • IDE approval in May Patient enrolment has • Trial to include 141 patients started in October • High impact centres engaged 2023 and sites qualified • All planned 15 centers were Commercial launch act
Slide 12: Financial Performance Q3
Financial Performance Q3 12
Slide 13: Net sales and results in Q3
Organic sales Net sales and results in Q3 growth Q3 37% Jul-Sep Jul-Sep YTD YTD SEK Million 2023 2022 2023 2022 Net sales 147 97 442 284 Sales growth, % 51 % 76 % 56 % 56 % Whereof organic growth, % 37 % 35 % 39 % 39 % Gross profit 108 69 328 202 Gross margin, % 73 % 72 % 74 % 71 % EBIT (adj) 14 -1
Slide 14: Thoracic – Q3 Highlights
Thoracic – Q3 Highlights Net Sales Net sales by Net sales by product Net sales by organ SEK 91 million (71) region category Organic growth disposables 4% 2% 20 % (45 %) 25% 46% Gross margin disposables 52% 86 % (84) 12% 63% 96% New XPS hub Lung Heart Americas Machine perfusion models launched APAC S
Slide 15: Abdominal – Q3 Highlights
Abdominal – Q3 Highlights Net Sales Net sales by Net sales by Net sales by organ SEK 35 million (14) region product category Organic growth disposables 6% 2% 100 % (32) 31% 0% Gross margin disposables 61 % (51) 69% 92% 100% Total growth Americas Machine perfusion Liver Kidney disposables, local APAC
Slide 16: Services – Q3 Highlights
Services –Q3 Highlights Net Sales Recovery cases Q3 Case trend Growth YTD 23% 1 Q3 Net Sales 21m Q3 Sales growth 65 148 Growth R12 68% 17% 82 Cases R12 583 YTD Net Sales 60m Hearts Lungs Heart-Lung block 16
Slide 17: EBITDA
EBITDA EBITDA (adj) Q3 19% EBITDA (adj), R12 months EBITDA (adj), by quarter Comments SEKm SEKm 160 24% 50 24% • R12 Trend continues with 140 22% 45 22% increased EBITDA 20% 40 20% 120 18% 18% • Primarily driven by increased 102 35 16% 16% gross profit from increased sales 100 29 28 83 14% 30 25 14%
Slide 18: Cashflow and financial position (Sep 30, 2023)
Cashflow and financial position (Sep 30, 2023) Cash flow from Cashflow from Q3 Cashflow operating activities investing activities • Cash flow from operating SEKm activities SEK +25 million (17) R12 50 +51m Jul-Sep • Investments SEK -28 million (-34) YTD 40 SEKm 2023 2023 • Capital raising SEK +430 m
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 and service models have proven to increase the number of organs used for transplantation • XVIVO has unique, innovative and world leading p
Slide 21: Outlook 2024
Outlook 2024 • Machine perfusion – continued growth fueled by improved transplant outcomes and efficient hub models • Continued establishment of service models • Heart – Prepare for commercial launch in Europe and ANZ. Accelerate patient inclusion in the US PMA trial • Liver – IDE submission to the
Slide 22: Nobody should die waiting for a new organ
Our vision Nobody should die waiting for a new organ 22