Lifecore Biomedical, Inc. · NASDAQ:LFCR
Lifecore Biomedical — Investor Presentation (October 2024)
22 slides from Lifecore Biomedical's investor presentation, Oct 4, 2024
Slide 1: Investor Presentation October 2024
Investor Presentation October 2024
Slide 2: Important Information Regarding Forward-Looking Statements
2 Important Information Regarding Forward-Looking Statements This presentation contains forward-looking statements regarding future events and future results of Lifecore Biomedical, Inc. ("we, "us" or the "Company") that are subject to the safe harbor created under the Private Securities Litigation
Slide 3: Non-GAAP Financial Measures
3 Non-GAAP Financial Measures This presentation contains non-GAAP financial information including Adjusted EBITDA. The Company has included a reconciliation of Adjusted EBITDA to Net (loss) income, the most directly comparable financial measure calculated in accordance with GAAP. We define Adjusted
Slide 4: Lifecore Biomedical is a fully integrated CDMO
Lifecore Biomedical is a fully integrated contract development and manufacturing organization (CDMO) that offers highly differentiated capabilities in the development and fill/finish of sterile injectable pharmaceutical products 4
Slide 5: Lifecore Key Takeaways
5 Lifecore Key Takeaways Broad Capabilities Recently expanded capabilities support a broad range of product characteristics, including the most complex formulations (small molecule, biologics, GLP-1s & monoclonal antibodies), for syringes, vials, & cartridges High-Growth Market U.S. CDMO market is e
Slide 6: Campus Overview
6 Campus Overview Site 1 (Headquarters) 150,000 Sq. Ft. Site 2 (Lakeview Drive) 78,000 Sq. Ft. Site 3 (Shelby Court) 20,000 Sq. Ft. Manufacturing Operations • Sodium hyaluronate manufacturing (fermentation) • Drug and medical device formulation and filling • Secondary packaging • Microbiology and an
Slide 7: Years of Success in Delivering our Customers' Innovations to Market
7 40 Years of Success in Delivering our Customers’ Innovations to Market* 2016 First FDA drug approval 1986 First FDA approved product with Lifecore HA 1981 Lifecore initiates sodium hyaluronate (HA) production 1983 First commercial sales of sodium HA 2005 Installed first automated syringe filler 19
Slide 8: U.S. Injectable Products Are the Fastest-Growing Segment of the CDMO Market
8 U.S. Injectable Products Are the Fastest-Growing Segment of the CDMO Market $9.0B 2030 +12.2% per year $3.9B 2023 GLP-1 Market: Projected to grow from $47B → $471B in 2032 adding additional pressure on available injectables capacity U.S. Injectable CDMO Market: 1. Grandview Research – Sterile Inje
Slide 9: Lifecore's History of Growth: Revenues & Adjusted EBITDA
9 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25E $40 $51 $59 $65 $76 $86 $98 $109 $103 $128 $130 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25E Lifecore’s History of Growth: Revenues & Adjusted EBITDA1 1. See disclaimers and important information on Slides 2 and 3 and reconciliatio
Slide 10: State-of-the-Art CDMO Capabilities
10 State-of-the-Art CDMO Capabilities Industry-Leading Development and Fill/Finish Expertise: Clinical & commercial development & manufacturing Formulation development & optimization Analytical development & testing Stability testing Flexible packaging & assembly Engineering design & support
Slide 11: High-Speed Filler More Than Doubles Current Manufacturing Capacity
11 High-Speed Filler More Than Doubles Current Manufacturing Capacity State-of-the-Art High-Speed Isolator Filler • Full isolator technology, state-of-the-art containment • Significantly expanding available capacity • Expanding biologic project opportunities • Flexibility of vial, syringe, & cartrid
Slide 12: Multi-Compendial Quality Management System
12 Multi-Compendial Quality Management System • 40+ years of a strong track record with global regulatory bodies • Three sites operating under cGMP and regular inspections • World-class quality system leads to excellent regulatory record • 60+ audit days routinely held annually
Slide 13: Actively Executing Three-Pronged Long-Term Growth Strategy
Actively Executing Three-Pronged Long-Term Growth Strategy Advancing multiple late- stage programs towards commercialization Ten programs in late stage with potential to drive impactful commercial revenue within 36 months Actively managing early and mid-stage programs Talented and expanded business
Slide 14: Maximizing Existing Customer Business
14 Maximizing Existing Customer Business Know and anticipate customer needs • Establish trust and reliability in every aspect of customer relationship Establish Lifecore as a partner-of-choice for the future CDMO needs of existing customers • Anticipate customers’ growing needs • Demonstrate efficie
Slide 15: Advancing Programs Towards Commercialization
15 Advancing Programs Towards Commercialization Strong Diverse Pipeline: • Late-stage programs represent impactful revenue potential within the next 36 months • Strong active development project pipeline across technologies – vials, syringes, and cartridges • Balance between drug and device programs
Slide 16: Invest in Technology, Outreach and Talent Required to Attract New High-Potential Business
16 Invest in Technology, Outreach and Talent Required to Attract New High-Potential Business Installation of 5-head filler has significantly expanded capacity and new business opportunities Recently increased marketing spend associated with expanding the company’s visibility Strategically expand tar
Slide 17: Robust Financial Growth Objectives
17 Robust Financial Growth Objectives* FY25 Guidance Medium Term Maximize Base Portfolio Commercialization New Business Adj. EBITDA: 25%+ Adj. EBITDA: ~15% * There can be no assurance that such results will occur or that such results will be materially different from actual results.
Slide 18: Enhanced Organizational Strategies Support Value Creation
Enhanced Organizational Strategies Support Value Creation 18 Reduced Operational Expenses as a Percent of Revenue Commitment to Sustained Quality Talent and Performance-Driven Culture Excellent Execution
Slide 19: Lifecore FY25 Outlook
19 Lifecore FY25 Outlook* Considerations • FY2025 revenues impacted by a single customer’s initiative to reduce and rebalance current inventories • Approximately $15 million of anticipated capital investment in FY25, primarily related to finalizing payments on the new fillers, including final instal
Slide 20: A Highly Experienced Management Team with Deep Industry Expertise
20 A Highly Experienced Management Team with Deep Industry Expertise and Proven Ability to Execute Paul Josephs President & Chief Executive Officer Ryan Lake Chief Financial Officer Jackie Klecker EVP & General Manager Darren Hieber SVP of Corporate Development & Partnerships Brikkelle Thompson SVP
Slide 21: Lifecore Key Takeaways
21 Lifecore Key Takeaways Broad Capabilities Recently expanded capabilities support a broad range of product characteristics, including the most complex formulations (small molecule, biologics, GLP-1s & monoclonal antibodies), for syringes, vials, & cartridges High-Growth Market U.S. CDMO market is
Slide 22: Reconciliation of Non-GAAP Financial Measures
22 Reconciliation of Non-GAAP Financial Measures To supplement the company’s financial results determined by U.S. generally accepted accounting principles (“GAAP”), the company has disclosed in the table below the following non-GAAP information about Adjusted EBITDA. 1 Adjusted EBITDA is net income
Lifecore Biomedical, Inc. \de\ — Investor Presentation (October 2024) on 6ix