Carasent Ab · OMXSTO:CARA
Carasent Ab — Q3 2024 Earnings Presentation
14 slides from Carasent Ab's earnings presentation, Oct 24, 2024
Slide 1: Interim report Q3
Interim report Q3 24 October 2024 Driving efficiency and quality in the world of care
Slide 2: Agenda
Agenda Todays presenters 1 Company update 2 Financial update Daniel Öhman Svein Martin Bjørnstad CEO CFO
Slide 3: Highlights Q3
Highlights Q3 3 Update ▪ Strong financial quarter ▪ EGM approved relisting to Nasdaq Stockholm – target first day of trading in December ▪ High one time costs related to potential bid from EG, relisting and acquisition project in Germany ▪ Implementation of new large contracts on time will be key to
Slide 4: Scaling into the cost base
Scaling into the cost base 4 Significant improvement through cost efficiencies and growth Revenue growth is the key to drive margins going forward +11 million 4 0 4 2 3 62 53 +10 million 8 4 Q3-23 Q3-24 -1 Recurring revenues Confrere -6 Consulting & other Signed not implemented QRR Q3-23 Q3-24 Adj.
Slide 5: Financial performance Q3 2024
Financial performance Q3 2024 5 Well functioning base with NOKm Operations WDX HQ Group strong scalability Ambition to keep costs flat Total revenues 66 0 66 and accelerate growth Share of revenue 100% 0% nm 100% Organic recurring growth 17% nm nm 17% NOK 13m EBITDAC from operations Adj. EBITDA Q3 2
Slide 6: The situation in VGR
The situation in VGR 6 The region is planning to force the private providers in primary care into the system they have bought, Millennium. The private providers and we are trying to stop it. There are three potential scenarios: The regions succeeds The middle The providers succeeds Churn: Churn: Chu
Slide 7: Journey Ahead
Journey Ahead 7 Strong organic • • Key to deliver implementation projects and new development on time Big interest in surgery, aiming to sign multiple contracts during the growth autumn/spring • Continuous efficiency gains Efficient use of • Cost control through prioritization and diligent financial
Slide 8: Financial update Q3 2024
Carasent Capital Market Day 2023 Financial update Q3 2024
Slide 9: Carasent – Q3 financial highlights
Carasent – Q3 financial highlights 9 277 17% 19% Million contracted ARR Organic recurring Adj. EBITDA margin per Q3 2024 revenue growth 23% 113% 6% Contracted ARR growth Net retention rate Adj. EBITDA – capex (organic) margin
Slide 10: 23% organic growth in contracted ARR
23% organic growth in contracted ARR 10 ARR growth driven by strong upsell, continued low churn and new contracts Implemented ARR Signed, not implemented ARR Fx +23% 278 264 15 17 17 5 9 214 30 2 +4% -2% +14% Q3’23 ARR Net upsale Churn New customers Q3’24 ARR Q3’24 ARR (excl. Confrere) (constant cur
Slide 11: Operating Leverage
Operating Leverage 11 Heavy investment period behind us, significant margin expansion ahead Adj. EBITDA less Capex (excl. Webdoc X) 12 Q1-23 – Q3-24, NOKm Adj. EBITDA-Capex margin 10 improvement from -18% in Q1-23 8 to +11% in Q3-24 on the back of: 11% • Continued solid revenue growth 7% 8 6 5 6 5 4
Slide 12: Strong YoY improvements
Strong YoY improvements 12 NOKm Q3 2024 Q3 2023 YoY growth YTD 2024 YTD 2023 ▪ Strong underlying organic growth for all Webdoc 34.5 26.6 30% 101.3 81.9 product categories Other EHR 14.8 13.7 8% 44.5 41.1 Platform products 12.7 12.4 2% 39.0 39.6 ▪ Consulting revenues up as Q3 last year Consulting and
Slide 13: Strong cash flow improvement YTD
Strong cash flow improvement YTD 13 NOKm Q3 2024 Q3 2023 YTD 2024 YTD 2023 ▪ Significant improvements in profitability and operating cash Revenue 66.3 55.5 199.5 178.7 flow YTD Reported EBITDA 6.5 3.8 20.6 7.2 ▪ One-off costs in Q3 Change in working capital -10.8 -14.0 1.9 -14.1 ▪ Negative working c
Slide 14: Q&A
Q&A