Resonance Health Ltd · ASX:RHT
Resonance Health — H1 FY2025 Earnings Presentation
21 slides from Resonance Health's earnings presentation, Feb 28, 2025
Slide 1: 1st Half FY25 Results
For personal use only Resonance Health 1st Half FY25 Results Andrew Harrison, CEO Benjamin Carruthers, CFO 1 1
Slide 2: 1st Half FY25 Results Summary
1st Half FY25 Results Summary For personal use only Revenue Normalised Operating EBITDA1 Normalised Operating $5.2M $0.54M EBITDA margin1 Up 60% pcp 10.4% Up 35% pcp Free Cashflow2 Free Cashflow / $0.9M Normalised Operating EBITDA Up 353% pcp Cash @ Bank $3.5M 166% 1Normalised Operating EBITDA = Sta
Slide 3: Resonance Health business overview
Resonance Health specialises in providing central imaging (SaMD) services, contract research organisation (CRO) services and investigator site (TrialsWest) services to global pharmaceutical and biotechnology companies, hospitals For personal use only and radiology centres. Central Imaging Vendor Con
Slide 4: Key Achievements
Key Achievements For personal use only The Resonance Health business has been transformed during the last 3 years: ü Revenue and cashflows have improved strongly with record revenues and cash receipts. ü Strategic reframing of the business into 3 units is complete with each contributing strongly. ü
Slide 5: 1st Half FY25 Highlights
1st Half FY25 Highlights For personal use only ü Revenue of $5.2M, an increase of $1.9M or 60% on the prior corresponding period (PCP). ü Record cash receipts from customers of $8.3M; up 160% or $5.1M from PCP. ü Record cash receipts from customers over the last 12 months (LTM) to 31 December 2024 o
Slide 6: Cashflow from Operations
Cashflow from Operations For personal use only Receipts from customers Net Operating C ashflow $6,000,000 $5,009,000 $5,000,000 $3,774,000 $4,000,000 $3,186,000 $3,000,000 $2,071,000 $2,042,000 $2,000,000 $1,150,000 $1,158,000 $1,115,000 $1,080,000 $1,000,000 $518,000 $279,000 -$88,000 $- -$511,000
Slide 7: 1HFY25 Normalised Operating EBITDA Bridge
1HFY25 Normalised Operating EBITDA Bridge For personal use only Half Year Results Dec 2024 Statutory Net Loss to Normalised Operating EBITDA $1,000,000 2,050,731 539,429 $500,000 $- -$500,000 -$1,000,000 (1,036,192) -$1,500,000 273,990 (473,286) (66,228) 215,417 142,490 -$2,000,000 122,951 (690,444)
Slide 8: 1HFY25 Free Cashflow Bridge
1HFY25 Free Cashflow Bridge For personal use only $1,200,000 1,099,903 $1,000,000 (98,585) 895,383 (105,935) $800,000 $600,000 $400,000 $200,000 $- Net Operating Cashflow Net interest Less capex Free Cashflow 8
Slide 9: 1HFY25 Profit & Loss
1HFY25 PROFIT & LOSS For personal use only ü Group revenue up 60%. Profit & Loss Summary1 ü Three key business segments now all making a $M Dec-24 Dec-23 %Change significant contribution to group performance. Revenue 5.2 3.3 60% Normalised Operating EBITDA 0.54 0.40 35% ü $2.1M invoiced to customers
Slide 10: Balance Sheet – 1HFY25 v 1HFY24
For personal use only BALANCE SHEET – 1HFY25 v 1HFY24 Balance Sheet Summary1 $M Dec-24 Dec-23 Assets Cash and cash equivalents 3.5 6.9 ü Strong cash position $3.5M. Trade debtors & other receivables 3.2 2.3 ü More efficient use of balance sheet with $3M in Intangibles & Other Assets 11.2 11.1 borrow
Slide 11: Cashflow – 1HFY25 v 1HFY24
For personal use only CASHFLOW – 1HFY25 v 1HFY24 Cashflow Metrics (Mill) Dec-24 Dec-23 Change $ Change % $M Normalised Operating EBITDA 0.5 0.4 0.1 35% Net cash from operating activities 1.0 (0.1) Net interest (0.1) - Capex - Maintenance (0.1) (0.2) 1 Free Cashflow 0.9 (0.4) 1.2 353% Free Cashflow/
Slide 12: Central Imaging (SaMD) Business
For personal use only Central Imaging (SaMD) Business ü SaMD business segment revenue $2.6M for the half-year. ü Entered new and extended clinical trial service agreements for provision of SaMD services in clinical trials. ü Providing central imaging services to the CRO business for the two major ph
Slide 13: Contract Research Organisation (CRO) Business
For personal use only Contract Research Organisation (CRO) Business ü Recent $13.8M contract illustrates success of CRO business strategy. ü $20.1M in total CRO contract wins since August 2023. ü $3.0M in invoiced and receipted revenue for the half-year. ü Developed highly sophisticated CRO team cap
Slide 14: Investigator Sites
For personal use only Investigator Sites ü TrialsWest revenue for 1HFY251 of $1.5M. ü Second TrialsWest site opened north of Perth in August 2024 started generating revenue in November 2024. ü Third TrialsWest site planned for 2HFY25. ü TrialsWest continues to win work from blue-chip customers acros
Slide 15: Normalised Results by Business Segment
For personal use only Normalised Results by Business Segment Segment Revenue % Normalised Services CRO TrialsWest Total 43% Consolidated - 31 Dec 2024 $ $ $ $ Revenue Sales to external customers 2,562,864 1,718,212 1,526,372 5,807,448 Revenue Receipted but Unearned Net of Accrued Revenue 1,360,287 1
Slide 16: Strong Path to Growth
For personal use only Strong Path to Growth There are several key near term drivers of growth Automation Increase capacity of the business through automation including use of advanced AI products. Early commercialisation of a non-invasive MRI Liver Fibrosis device Completion of Extended Proof of Con
Slide 17: Business Outlook
For personal use only Business Outlook Strong FY25 Performance is expected on the back of strong FY24 results ü Continued growth in SaMD business volumes. ü Current CRO clinical trial will continue to generate revenue in FY25 (expected to be completed during the year). ü New CRO contract win of $13.
Slide 18: Contact Us
For personal use only Contact Us info@resonancehealth.com +61 8 9286 5300 resonancehealth.com resonance-health-ltd/ 18
Slide 19: Strong Tailwinds
Appendix 1 For personal use only Strong Tailwinds Australian Clinical Trial Market Global Clinical Trial Market Key Drivers - Australia Key Drivers - Globally ü Approvals and regulatory system ü Increasing rapidity of technological breakthroughs ü Public private health system ü Shortening developmen
Slide 20: Clinical Trial Ecosystem
Appendix 2 Clinical Trial Ecosystem Clinical Trials are central to the development of new medicines and vaccines to prevent and treat disease. They require the For personal use only coordinated action of a number of key stakeholders. Third Party Vendors Pharma & Biotech Companies Certain activities
Slide 21: Disclaimer
For personal use only Disclaimer This presentation has been prepared by Resonance Health Ltd (“Resonance Health” or “Company”) and may contain forward-looking statements that are based on current expectations and beliefs and are subject to numerous factors and uncertainties that could cause actual r