CytoSorbents Corporation · NASDAQ:CTSO
CytoSorbents — Q1 2018 Earnings Presentation
12 slides from CytoSorbents's earnings presentation, May 8, 2018
Slide 1: CytoSorbents Corporation Q1 2018 Earnings Conference Call
CytoSorbents Corporation (NASDAQ: CTSO) A Leader in Critical Care Immunotherapy Q1 2018 Earnings Conference Call May 8, 2018
Slide 2: Conference Call Participants
Conference Call Participants Dr. Phillip Chan, MD, PhD Chief Executive Officer and President Vincent Capponi, MS Chief Operating Officer Kathleen Bloch, MBA, CPA Chief Financial Officer Dr. Eric Mortensen, MD, PhD Chief Medical Officer Dr. Christian Steiner, MD Vice President of Sales and Marketing
Slide 3: Safe Harbor Statement
Safe Harbor Statement Statements in this presentation regarding CytoSorbents Corporation and its operating subsidiaries CytoSorbents Medical, Inc and CytoSorbents Europe GmbH that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actu
Slide 4: Operational Highlights
Operational Highlights • 40,000+ CytoSorb treatments delivered, from 23,000 a year ago • Record trailing 12-month total revenue of $17.0M, including 12-month product sales of $15.2M with a mix of strong direct and distributor/partner activity • Well-capitalized with a healthy cash balance of $21.1M
Slide 5: Clinical Trial Update
Clinical Trial Update • U.S. REFRESH 2 Pivotal Trial • 400 patient, randomized, controlled PMA multi-center adaptive trial targeting reduction of post-op AKI using CytoSorb during complex cardiac surgery (valve replacement and aortic reconstruction with hypothermic cardiac arrest) • Several REFRESH
Slide 6: Financial Highlights
Financial Highlights med CVtOSorbents forking to Save Lives Through Blood Purification
Slide 7: Comparative Quarterly Revenue Results
Comparative Quarterly Revenue Results Quarter Ended Quarter Ended Mar 31, 2018 Mar 31, 2017 % Incr. Product revenue $4,433,296 $ 2,596,133 71% Grant and other income 491,355 517,385 (5)% Total revenue $4,924,651 $ 3,113,518 58% • Product sales for Q1 2018 increased by $1.8M, or 71%, to $4.4M as comp
Slide 8: Quarterly Product Sales
Quarterly Product Sales Quarter over quarter product sales continue to advance with our 23rd consecutive quarter of year-over-year growth $4,433,296 $4,500,000 $4,296,047 $4,000,000 $3,448,661 $3,500,000 $3,041,012 $3,000,000 $2,596,133 $2,612,801 $2,500,000 $2,143,116 $2,000,000 $1,852,670 $1,597,4
Slide 9: Trailing Twelve Months Product Sales
Trailing Twelve Months Product Sales Over the past three years, the compound growth rate of return (“CAGR”) on product sales was 67% $16,000,000 $15,219,016 Product Sales $14,000,000 $12,000,000 $8,206,036 $10,000,000 Trend Line $8,000,000 $6,000,000 $4,043,819 $4,000,000 $3,269,807 $2,000,000 $1,21
Slide 10: Working Capital and Cap Table
Working Capital and Cap Table Working Capital as of 3/31/18 12/31/17 12/31/16 12/31/15 12/31/14 Current Assets: Cash and short-term investments 21,090 $ 17,322 $ 5,245 $ 7,509 $ 5,550 Grants and accounts receivable, net 2,352 2,206 1,433 649 819 Inventories 680 796 834 1,191 538 Prepaid expenses and
Slide 11: Guidance
Guidance • We expect that Q2 2018 CytoSorb sales will exceed product sales in Q1 2018 • Continue to expect solid growth and achievement of operating profitability in 2018 on a quarterly basis (less non-cash expenses and clinical trial costs) • Anticipate expansion in blended product gross margins (c
Slide 12: Q&A Session
Q&A Session CytoSorbents Corporation NASDAQ: CTSO Investor Relations: Jeremy Feffer (212) 915-3820 jeremy@lifesciadvisors.com A Leader in Critical Care Immunotherapy 12