Cogstate Ltd · ASX:CGS
Cogstate — H1 FY2018 Earnings Presentation
22 slides from Cogstate's earnings presentation, Feb 21, 2018
Slide 1: Half Year Financial Results
Half Year Financial Results for the 6 months ended 31 December 2017 21 February 2018 © 2018 Cogstate Ltd. All rights reserved. 1
Slide 2: Cogstate Summary
Cogstate Summary Exchange: ASX Ticker: CGS Focused on BRAIN HEALTH AND COGNITION • Robust and growing CLINICAL TRIALS BUSINESS FOR MEASUREMENT OF COGNITION - both efficacy (e.g. Alzheimer’s) and safety (e.g. pediatric) endpoints; and • FDA-approved COMPUTER-BASED TEST, COGNIGRAM, for testing individ
Slide 3: Investment highlights
Investment highlights A world-class cognitive science, technology and services company focused on optimising and monetising the measurement of cognition. ▪ In May 2017, Cogstate was chosen to support all Alzhiemer’s disease trials for Eli Lilly. 1H18 result included first studies under that agreemen
Slide 4: Clinical Trials Sales Contracts
Clinical Trials Sales Contracts ▪ US$26.5m of sales contracts executed FY18 Year-To-Date ▪ US$21.6m : 1H18 ▪ US$4.9m : 01-Jan-18 through to 16-Feb-2018 ▪ Compares to FY17 full year result : US$29.5m… ▪ positioned for strong growth in bookings and therefore growth in revenue backlog leading into FY19
Slide 5: Financial Performance
Financial Performance RN Of
Slide 6: Half Year Segment Analysis
Half Year Segment Analysis 31-Dec-16 30-Jun-17 31-Dec-17 FOR THE 6 MONTHS ENDED US$’m US$’m US$’m Clinical Trials Revenue 13.91 12.28 12.83 Contribution 8.17 6.25 6.84 % 58.7% 50.9% 53.3% Healthcare Revenue 0.10 0.10 0.17 Contribution (0.23) (0.70) (0.83) R&D Revenue 0.00 0.01 0.37 Contribution (0.2
Slide 7: Technology Developments
Technology Developments 7
Slide 8: Intangible Assets
Intangible Assets Software Development • US$1.1m costs associated with development of new platform infrastructure has been capitalised during the half year ended 31-Dec-17 • These costs largely represent labour costs (internal) expended in building the new platform. • The new platform will replace c
Slide 9: Cogstate Technology Strategy
Cogstate Technology Strategy We are going to continue to build out our modular cognitive platform adding support for new therapeutic markets, channels and customer applications to deliver our Cogstate services to the market increasing speed, efficiency and quality. • Additional eCOA1 capabilities to
Slide 10: Leadership & Expertise
. Leadership & Expertise Ss
Slide 11: Addition of key science personnel
Addition of key science personnel In Feb 2018, Cogstate has added 3 senior experts to our team: • The additional resources will be primarily focused on support of business development activities and customer deliverables – As such, all associated costs will fall within cost of sales, rather than ove
Slide 12: Eric Siemers, MD
Eric Siemers, MD • Distinguished Medical Adviser – Start date at Cogstate: February 2018, 1 day per week (0.2 FTE) – Support of Clinical Trials customers: • Advisory services, trials design (particularly AD), support of business development – Support of Cognigram • Promotion, in scientific and other
Slide 13: Chris Edgar, PhD
Chris Edgar, PhD • Senior Vice President, Clinical Science – Start date at Cogstate: Feb 2018, based in London, UK – At Cogstate, role will include: • Working within the Clinical Trials segment, supporting sales and business development activities • Scientific advisory in respect of measurement of c
Slide 14: Pam Ventola, PhD
Pam Ventola, PhD • Senior Science Director, Pediatric and Rare Diseases – Start date at Cogstate: February 2018, based in New Haven, CT – At Cogstate, role will include: • Working within the Clinical Trials segment, supporting sales and business development activities in pediatric and rare diseases
Slide 15: Financial Outlook
Financial Outlook 15
Slide 16: Financial Outlook – to 30 June 2018
Financial Outlook – to 30 June 2018 ▪ Clinical Trials ▪ Sales prospects remain strong ▪ Good to start to March quarter with US$4.9m of contracts executed in the first 6 weeks ▪ Revenue growth expected in 2H18 vs 1H18 (refer slide 4) ▪ Maintenance of gross margin % in Clinical Trials segment ▪ Cognig
Slide 17: Cogstate
oi Cogstate
Slide 18: Appendices
Appendices: 18
Slide 19: Corporate overview
Corporate overview Strong conviction from long-term shareholders has enabled Cogstate to develop a unique technology platform, extensive validation and expanding supporting services. Highly credentialed and well aligned Board and management team holding >40% of Cogstate shares 42.2% Shareholding of
Slide 20: Clinical Trial Sales Contracts
Clinical Trial Sales Contracts 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 - FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 (YTD) Notes: Financial Year runs 1 July – 30 June FY18 (YTD) represents the period from 1 July 2017 to 16 February 2018 20
Slide 21: Contracted Revenue Backlog
Contracted Revenue Backlog Contracted future revenue ($US) 40,000,000 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 - 30-06-2015 31-12-2015 30-06-2016 31-12-2016 30-06-2017 31-12-2017 21
Slide 22: Clinical Trials: Book-to-Bill Analysis
Clinical Trials: Book-to-Bill Analysis 4.50 (where > 1.0 indicates growth) 4.00 3.50 Book-to-Bill 3.00 2.50 2.00 1.50 1.00 0.50 - Book to Bill Qtr Benchmark 22