Slide 1: Result presentation Q1/2020
29 May 2020, Seppo Kopsala, CEO / Lars Lindqvist, CFO Result presentation Q1/2020
Slide 2: Highlights January – March 2020
Highlights January – March 2020
Slide 3: Highlights January – March 2020
Market expansion to the USA Long term prospect remain 1. has started 4. stable in spite of the pandemic Highlights January – March 2020 Device segment affected by The outlook 2020 announced 2. the pandemic 5. 19 March 2020 remains as-is Software segment 3. performance was solid due to the recurring
Slide 4: Q1/2020 Financial highlights (KEUR)
Q1/2020 Financial highlights (KEUR) Q1/2020 Q1/2019 Change % Revenue 3,034 3,240 -6.3% Gross profit 1) 1,977 2,518 -21.5% Gross margin 2) 65.2% 77.7% Adjusted EBITDA -575 93 -720.9% Adjusted EBITDA margin -19.0% 2.9% Net profit/ loss -1,250 -575 -117.5% Earnings per share -0.12 -0.06 -90.3% Cash flo
Slide 5: COVID-19 Coronavirus
COVID-19 Coronavirus • COVID-19 Coronavirus outbreak has turned into a pandemic • What does it mean to Optomed: • Devices segment sales are affected whereas the Software sales are protected by the recurring revenue model • Precautions taken to protect its currently strong cash position: • temporary
Slide 6: USA market entry
USA market entry • Canadian medical devices license received for Optomed’s handheld fundus camera • Previously, the similar medical devices license (FDA) has been granted to the US market • The Canadian registration now allows commercials activities throughout North America • Optomed USA Inc establi
Slide 7: Devices segment highlights
Devices segment highlights January – March 2020
Slide 8: Devices segment highlights
Revenue decreased mainly due to 1. the COVID-19 pandemic Q1/2020 Q1/2019 Change,% Devices segment highlights Revenue 974 1,210 -19.5% Gross margin decreased due to: • governmental grants of EUR 217 2. thousand received in 2019 • sourcing arrangements to protect Gross profit 396 996 -60.2% the manufa
Slide 9: Software segment highlights
Software segment highlights January – March 2020
Slide 10: Software segment highlights
Software segment’s Q1/2020 Q1/2019 Change,% 1. performance was solid in tough environment Software segment highlights Revenue 2,060 2,030 1.5% Stable recurring business 2. with the current customer Gross profit 1,581 1,523 3.8% base protected the segment’s revenue Gross margin 76.7% 75.1% 2019 gross
Slide 11: Outlook 2020
Outlook 2020 OPT@MED
Slide 12: Outlook 2020
Outlook 2020 We continue to progress our expansion towards the US market and grow our international distributor network. Additionally, we are currently investing in the development of our first fully integrated AI camera with expected commercial launch during 2020. Optomed expects its revenue to dec
Slide 13: Financial targets
Financial targets Revenue Growth Adjusted EBITDA Optomed’s medium-term target is to deliver Optomed’s target is to prioritise a double-digit annual organic revenue investments in the organisation to growth. In the long-term Optomed’s target support growth in the medium-term and is to deliver an aver
Slide 14: Balance Sheet
Balance sheet 31.3.2020 31.3.2019 Balance Sheet ASSETS Goodwill 4,256 4,256 Development costs 5,311 5,201 • Equity ratio 66.0 (23.9) percent Other intangible assets 3,090 3,360 Total intangible assets 12,657 12,817 • Total borrowings EUR 6.6 (10.3) Total tangible assets 1,369 1,678 million of which
Slide 15: Cash Flow
Cash Flow Q1 2020 Q1 2019 Loss for the financial year -1,250 -575 Cash flows before change -509 -24 • Cash flow from operating activities in net working capital amounted to EUR -2.9 (-0.5) million Change in net working capital -2,212 -447 of which the decrease in payables of EUR 2.4 million mainly r
Slide 16: Optomed's mission is to prevent blindness
“ Optomed’s mission is to Expansion into new geographical markets prevent blindness by improving access to eye screening globally Opening new customer segments: primary care Bringing AI-integrated health screening to the market