Slide 1: Welcome to the 2Q24 webinar
Welcome to the 2Q24 webinar August 16, 2024
Slide 2: Today’s agenda
Today’s agenda ▪ 2Q24 and 1H24 in brief ▪ Highlights of the Q2 and H1 ▪ R&D pipeline progress ▪ Implementation of the strategy ▪ Outlook ▪ Summary ▪ Q&A
Slide 3: This is Modulight
This is Modulight We fight cancer with science and technology ▪ We are a biomedical company ▪ We also manufacture products that designs and manufactures for other high-value applications laser devices for the treatment such as flow cytometry, quantum of cancer and eye diseases and computing and digi
Slide 4: Q2 in brief
Q2 in brief ▪ Implementation of the PPT business progressed ▪ The R&D pipeline grew to 30 (27). Projects are about commercializing own products manufactured in Tampere ▪ Operating cash flow improved due to Strategic focus on increased operational efficiency and expanding geographically completion of
Slide 5: Financial highlights April–June 2024
Financial highlights April–June 2024 ▪ Operating cash flow -93 (-1,430) & net cash flow -1,891 (-5,017) improved significantly Revenue EBITDA EBIT ▪ Revenue was 9% less than in the previous quarter and 13% less than in the corresponding period of 2023 EUR EUR EUR ▪ The transition to the PPT business
Slide 6: Financial highlights January–June 2024
Financial highlights January–June 2024 ▪ Revenue was EUR 2,024 (2,600) thousand ▪ EBITDA was EUR -2,535 (-3,010) thousand Revenue EBITDA EBIT ▪ EBIT was EUR -4,026 (-3,998) thousand ▪ Operating cash flow was EUR -1,022 (-3,712) EUR EUR EUR ▪ Net cash flow was EUR -4,561 2,024 -2,535 -4,026 ▪ (-11,20
Slide 7: Key figures
Key figures Group EUR 1,000 unless otherwise noted 4–6/2024 4–6/2023 1–6/2024 1–6/2023 1–12/20231) Revenue 965 1,107 2,024 2,600 4,025 EBITDA -1,221 -1,581 -2,535 -3,010 -8,539 EBITDA, % of revenue -126.5% -142.8% -125.3% -115.8% -212.1% Operating result (EBIT) -2,047 -2,095 -4,026 -3,998 -12,132 Op
Slide 8: Growth in the R&D pipeline
Growth in the R&D pipeline ▪ R&D pipeline increased by two projects compared to the first Number of projects with commercialization potential quarter and by four vs. same time previous year 35 ▪ Focused on advancing especially 30 the projects currently in P3 trials 25 ▪ Two pharmaceutical companies
Slide 9: Modulight’s customer base
Modulight’s customer base Customer maturity Customer ownership continues to improve 35 30 ▪ 37% have over 1bn revenue 25 ▪ 60% of customers are listed companies 20 ▪ 57% are established 15 companies 10 ▪ 33% are privately owned 5 ▪ 7% are research companies 0 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23
Slide 10: Revenue model
Revenue model The objective is revenue, based on the Customized R&D projects based on the Best Efforts share of pharmaceutical or Pay Per principle, without revenue risk for Modulight Treatment fees, or the utilization rate of industrial applications. Predictability of Modulight’s revenue is improvi
Slide 11: Strategy and targets
Strategy and targets Geographical expansion Extension of the offering to new indications and applications New business models Commercial and operational excellence State-of-the-art laser technology expertise
Slide 12: Geographical expansion
Geographical expansion ▪ Investments in geographical expansion continued Modulight seeks growth ▪ Presence in the U.S. market is strengthening especially in the U.S. market, where the company with both local sales and clinical support. is setting up presence with Both are increasingly appreciated by
Slide 13: New business models
New business models ▪ The implementation of the pay per treatment (PPT) business model progressed/accelerated Modulight strongly seeks ▪ Revenue from PPT model is still small but growth through SaaS-based growing, reaching six figure revenue business models, such as the Pay Per Treatment ▪ Extended
Slide 14: New indications and applications
New indications and applications ▪ Extending the offering and productizing the platform to new indications supported the Modulight aims to expand increase in the number of projects in the its offering to cover other R&D pipeline indications as well as extend the use of its ▪ A major blue-chip compan
Slide 15: Commercial and operational excellence
Commercial and operational excellence ▪ Focus on operational efficiency improved operating margins Modulight aims to develop ▪ Strategic distribution its commercial and partnerships developed operational expertise as well as the ESG, governance ▪ Management team and reporting capabilities strengthen
Slide 16: State-of-the-art laser technology expertise
State-of-the-art laser technology expertise ▪ The major investment program has been completed and shows on net cash flow as big Modulight continues investments into high value one-time costs related to take in use the add laser technology to equipment are reducing further increase the gap to ▪ Takin
Slide 17: Outlook
Outlook Modulight has not issued guidance for revenue or profitability in 2024. As the company’s customer projects are still distributed across varying early stages of development, and predicting developments in the market remains challenging, it is difficult to forecast performance in 2024. However
Slide 18: Summary
Summary ▪ R&D pipeline at 30 projects and focus to more mature projects ▪ 2 new customers ▪ Operational efficiency improved, operating cash flow -93 (-1,430) ▪ PPT model implementation progressing ▪ Investments in R&D and geographical expansion continue ▪ Revenue EUR 965 (1,107) million -9% QoQ / -1
Slide 19: Thank you! Questions?
Thank you! Questions?