Senzime Ab · OMXSTO:SEZI
Senzime Ab — Q3 2023 Earnings Presentation
21 slides from Senzime Ab's earnings presentation, Oct 25, 2023
Slide 1: A world free of postoperative complications. Q3 summary 2023
A world free of postoperative complications. Innovative patient monitoring solutions Senzime develops and markets a leading portfolio of patient monitoring systems powered by state-of-the-art algorithms that drive a clinical and digital paradigm shift to improve patient safety. Q3 summary 2023.
Slide 2: This is Senzime.
This is Senzime. 1 A global medical technology company driving innovation and a digital technology shift within monitoring - addressing over 100 million patients and a market valued >40 billion SEK. Developer and producer of algorithm-powered monitoring 2 solutions with recurring use of proprietary
Slide 3: Senzime's rapid growth rate continues in Q3 2023
Senzime's rapid growth rate continues in Q3 2023 Total revenues Q1-Q3 (kSEK) 1 Net sales for Q3 reached SEK 9.2 m (3.7). Overall 30 000 growth 146%, monitors 275% and disposables 84% +163% 25 000 2 Growth driven by major hospital wins in the US market and recurring sales of disposable sensors 20 000
Slide 4: Strong sales of disposable sensors drives rapid growth rate and margins
Strong sales of disposable sensors drives rapid growth rate and margins Net sales rolling-12 months (kSEK) Sales of TetraSens consumables, rolling-12 months (kSEK) 32 000 18 000 28 000 16 000 24 000 14 000 12 000 20 000 10 000 16 000 8 000 12 000 6 000 8 000 4 000 4 000 2 000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 5: Installed base of monitors grows, drives sales of disposable sensors
Installed base of monitors grows, drives sales of disposable sensors Shipped base of TetraGraph systems1 Shipped TetraSens disposable sensors Q1-Q3 (units) 2 000 80 000 1 800 Installed base 70 000 +155% 1 600 drives sales of consum- 60 000 1 400 ables 50 000 1 200 1 000 40 000 800 30 000 600 20 000
Slide 6: Major hospital system wins on US West Coast
Major hospital system wins on US West Coast 1 Leading university hospital system in California orders 70 TetraGraph monitors to be installed over a 9-month period. Initial order value approx. SEK 1.5 m expected annual recurring revenues of SEK>3 m per year in full use. 2 Top-10 nationwide rated Cali
Slide 7: Why leading hospitals choose the TetraGraph System for neuromuscular monitoring
Why leading hospitals choose the TetraGraph System for “Helping the anesthesiologist secure the right dose of paralytics neuromuscular monitoring and indicate when its safe for the patient to breathe again.” 1 TRUSTED VENDOR Senzime is the only company in the portable EMG-space that is publicly trad
Slide 8: The inflection point: Widespread clinical guidelines
The inflection point: Widespread clinical guidelines 2022 European Society Anesthetists (ESA) 2021 guidelines EI Grupo Espanol 2020 de Rehabilitacion Canadian Multimodal 2019 Anesthesiology Society Italian Society of Anesthesia, Analgesia, 2018 Reanimation and Consensus Statement Intensive Care Publ
Slide 9: Utilization rate driven by leading hospital accounts
Utilization rate driven by leading hospital accounts Utilization rate, TetraSens use per week1 Selected US key accounts 4,5 3,9 4,0 3,8 3,6 3,4 3,5 3,2 3,0 2,5 2,5 2,0 2,0 1,9 2,0 1,7 1,6 1,6 1,5 1,2 1,0 0,8 0,5 0,0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 1. Calculated based on numbe
Slide 10: Increasing TetraGraph utilization rate in direct key markets
Increasing TetraGraph utilization rate in direct key markets Utilization rate US-market Utilization rate German-market 4,5 4,3 5,0 4,6 4,4 3,9 4,0 4,5 4,2 4,1 3,5 4,0 3,6 3,5 3,2 3,2 3,5 3,0 2,7 2,6 2,5 3,0 2,7 2,8 2,5 2,5 2,5 2,1 2,0 2,5 2,2 2,0 2,0 1,5 1,5 1,0 1,0 0,5 0,5 0,0 0,0 Q3 2022 Q4 2022 Q
Slide 11: Proven high TetraGraph utilization rate in Germany
Proven high TetraGraph utilization rate in Germany Leading German robotic surgical centre. TetraSens usage per TetraGraph and week. 12,0 10,7 10,7 10,3 10,0 8 8 8,0 7,1 6,0 4,5 4,0 2,0 0 0,0 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
Slide 12: Creating value from the installed base of TetraGraphs
Creating value from the installed base of TetraGraphs Shipped base status and Top-Tier TetraGraph use rate (patients) Full use (10x per week) 5-y LTV per TetraGraph and utilization rate US (SEK) (+4x per week) Ramp-up 600 000 (2x per week) 500 000 Install phase (1x per week) 400 000 Pending or 300 0
Slide 13: TetraGraph customer (hospital) growth 2023
TetraGraph customer (hospital) growth 2023 Number of active hospital accounts, end of period* 180 160 140 120 100 80 60 40 20 0 End of 2022 Jan-March April-May Jun-July Aug-Sept Europe US RoW * Excludes accounts in Japan, South Korea and smaller distribution markets.
Slide 14: Creating value from the ExSpiron system
Creating value from the ExSpiron system • Strengthened leadership focusing on the ExSpiron system including cross sales training and sales channel development. New distributors signed up in Greece and Austria, and more new markets in the near-term pipeline. • Several positive trials in Swiss and Ger
Slide 15: Product market mix and move to in-house production drives gross margin
Product market mix and move to in-house production drives gross margin Development of COGS (MSEK) and Gross Margin rolling-12 months (%) 30 80% 68,6% 68,7% 70% 25 64,6% 62,0% 60% 57,4% 56,2% 20 53,7% 54,3% 53,2% 50% 48,2% 15 40,9% 40,2% 40% 30% 10 20% 5 10% 0 0% Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 20
Slide 16: Sales growth with operating expense control
Sales growth with operating expense control Operating expenses (kSEK). Actual and excl. non-recurring extraordinary. 45 000 40 000 35 000 30 000 25 000 20 000 15 000 10 000 5 000 0 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Actual Adjusted
Slide 17: SEK 173 million raised in Q3 from long-term investors securing growth plans
SEK 173 million raised in Q3 from long-term investors securing Senzime’s growth plans As of Sept 30, 2023 After 117 MSEK round is registered Secured long-term funding via two direct Ten largest shareholders Number of Capital Number of Capital shares issues raising a total of SEK 173 million shares (
Slide 18: US OTCQX cross listing
US OTCQX cross listing • Senzime has over 10% its shares held by US based investors. • To attract more US based investors and enable trading of the Senzime-share, an application to trade on the US based OTCQX trading platform has been submitted. • OTCQX is a cost-effective and smart alternative to l
Slide 19: The Senzime equation
The Senzime 300 equation 300 x 30 x 4 = 300 Hospital Average # of Average use of Million SEK in accounts TetraGraphs per TetraSens per consumable sales hospital monitor and week Goal is that Senzime shall maintain a market share of at least 10% in its addressed market segments and reach a long-term
Slide 20: We're in the midst of a once-in-a-decade opportunity
“We’re in the midst of a once-in-a-decade opportunity to become a global leader in algorithm- powered monitoring solutions that can help eliminate postoperative complications.”
Slide 21: Wrap-up messages
Wrap-up messages Strong product offerings addressing a clinical and technological large market shift De-risked case in scale-up phase with strong US focus and supported by new clinical guidelines Now driving up utilization of installed TetraGraph base and cost-effectively scaling in focus markets Ba