Slide 1: FY'25-Q1 Earnings Presentation
TSX-V: COV OTCQX: CVALF investors@covalon.com FY’25-Q1 Earnings Presentation February 21, 2025 Brent Ashton – CEO Katie Martinovich – Interim CFO Compassionate solutions designed for patients and made for care providers 1
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking Statements and Non-GAAP Financial Information Certain statements included in this presentation may be considered forward-looking statements. These forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “estimate”, “e
Slide 3: Jessika and Covalon's IV Clear Dressing
Jessika and Covalon’s IV Clear® Dressing Meet Jessika, a former firefighter medic. She was diagnosed with a medical condition that required her to have a Hickman line (a type of central venous catheter) inserted into her body. Like many patients with central lines, she experienced significant compli
Slide 4: Covalon Q1 FY'25 Summary
Covalon Q1 FY’25 Summary Strong Financial Results: • Revenue of $8.2 million, growth of 75% over Q1 FY’24 “Covalon delivered strong revenue growth • Adjusted EBITDA of $1.5 million, an increase of $2.8 million over Q1 in Q1, led by success with our US Medical FY’24 Consumables business, our primary
Slide 5: FY'25 Q1 Financial Highlights
FY’25 Q1 Financial Highlights US Medical Consumables Gross Profit Operating Expenses Revenue $7.0M 74% $5.0M 75% $3.7M 75% growth $0.6M Adjusted EBITDA Earnings Per Share Cash Position (end of Quarter) 66% growth$2.8M 60.7% +670 bps $0.07 $9.2M $1.5M $0.04 $17.5M All $ figures in $CAD millions unles
Slide 6: Strong Focus Driving Outstanding Growth
US Vascular Access and Surgical Consumables – Strong Focus Driving Outstanding Growth 8 of the 10 best US Children’s Hospitals1 trust Covalon to protect their patients RETAIN GROW EXISTING ADD NEW 100% retention 39% revenue growth from Acquired of our Top 50 FY’24 our Top 50 FY’24 21 new hospital cu
Slide 7: Covalon 2025 Focus for the Future
Covalon 2025 Focus for the Future Growth-Focused Commercial Advancement Market Development Acceleration Operational Optimization Innovation and Business Development 7
Slide 8: Growth Focused Commercial Advancement
Growth Focused Commercial Advancement Scientific Meeting Advance From Single Facilities Partnerships To Large Health Systems Integrated Delivery Network AI-Driven Content, Customer Gentle to Skin Content and Insights, and Engagement Campaign 8
Slide 9: Summary
Summary • Covalon is making a significant impact for patients and the clinicians who treat them • Exciting start to 2025 with strong first quarter growth and a number of important accomplishments • Growth-focused Commercial advancement will help to fuel strong multi-year growth opportunity 9
Slide 10: Q&A
Q&A 10
Slide 11: Investor Relations Contact Information
Investor Relations Contact Information Brent Ashton Katie Martinovich Chief Executive Officer Interim Chief Financial Officer investors@covalon.com 11
Slide 12: Q1 FY'25 Results
Q1 FY’25 Results Q1 FY’25 Q1 FY’24 Delta $3.5 M of revenue growth led by focus on US Product Sales Revenue $8.2 $4.7 + 74.5% (73% YoY growth) United States represents Gross Profit (Gross Margin) $5.0 (61.2%) $2.9 (61.1%) + 72.4% 87% of WW revenue Operating Expenses $3.7 (45.1%) $4.3 (91.5%) - 4,640
Slide 13: Past 7 Quarters of Financial Performance
Past 7 Quarters of Financial Performance Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY’23 FY’23 FY’24 FY’24 FY’24 FY’24 FY’25 Revenue $6.3 $6.9 $4.7 $8.4 $9.2 $8.9 $8.2 Gross Profit $3.6 $2.9 $2.8 $5.3 $5.4 $5.3 $5.0 (Gross Margin) (57.5%) (41.9%) (61.1%) (63.1%) (58.9%) (60.2%) (61.2%) Operating Expenses $4.2 $5.8 $4.3