Oneview Healthcare PLC · ASX:ONE
Oneview Healthcare — FY2023 Earnings Presentation
42 slides from Oneview Healthcare's earnings presentation, Feb 28, 2024
Slide 1: Full Year 2023 Results
28th February 2024 Full Year 2023 Results Oneview Healthcare PLC | ABRN: 610 611 768
Slide 2: Legal disclaimer
Legal disclaimer This presentation contains general information about the activities of Oneview Healthcare PLC (ABRN 610 611 768) (Oneview or Company) which is current as at 28 February 2024. It is in summary form and does not purport to be complete. It presents financial information on a statutory
Slide 3: Speakers
Speakers James Fitter Helena D’Arcy Niall O’Neill JP Howe CEO CFO Chief Product & Chief Operating Strategy Officer Officer
Slide 4: Our vision
Our vision To power personalised, exemplary care experiences 4
Slide 5: Agenda
Agenda 2023 in Review 6 Growth Drivers 16 • Virtual Care 17 • MyStay Mobile 21 • Strategic Partnership 25 2023 Financial Results 29 Market Conditions and Outlook 35 Q&A 42 5
Slide 6: 2023 In Review
2023 In Review Onéview> 6
Slide 7: 2023 Financial Highlights (€m)
2023 Financial Highlights (€m) Recurring Revenue €6.60 ▲ 7% Total revenue €9.40 ▲ 5% Gross margin €6.16 ▲ 15% Gross margin % 66% ▲ 6% Operating €11.91 Operating (€5.74) ▲ ▲ 14% 20% Expenditure EBITDA 1 (€8.93) Cash €11.5 ▲ Net loss after tax 18% balance 1 Excluding depreciation, amortisation, impair
Slide 8: New Customer Wins
New Customer Wins €11.7m €1.9m Aggregate TCV1 Aggregate ARR2 North America ANZ Europe 1 Minimum Total Contract Value (TCV) for the new customer wins 8 2 Aggregate Annualised Recurring Revenue (ARR) for the new customer wins
Slide 9: Expansions/Upgrades
Expansions/Upgrades 600 bed upgrade to Gen 3 and contract extended for a further 3 years 1,045 bed expansion completed. Currently piloting new MyStay Mobile product 4 hospitals out of the 10 expansion hospital sites now live. Full migration to Cloud in flight Signed 3rd consecutive extension for a 3
Slide 10: Financial Highlights
Financial Highlights 45% growth in Annualised recurring 1,950 new Gen 3 Loss after tax from A$22.8m/€13.8m contracted beds revenue (ARR) €7.0m beds added in 2023 continuing capital raise since start of the (A$11.6m) generating materially operations reduced (completed in pandemic to higher Average by
Slide 11: 2023 Highlights
2023 Highlights MyStay Mobile – Product 9% growth in contracted beds Signed Baxter VAR – first Purchase Development Phase I completed from 14,475 to 15,821. Further Order now received – NYU pilot live February 2024 4,572 in last stage negotiations. Selected as vendor of choice for Completed A$22.8m
Slide 12: Beds Overview
Beds Overview • Gen 3 Bed installation rate increased by 190% YoY due to Cloud install efficiencies • Gen 2 product end of life Dec 31 resulting in tactical churn of 3 customers who were unable or unwilling to refresh hardware • Gen 2 customers not renewing were “entertainment only” low margin beds
Slide 13: 2023: Transition for SaaS-powered growth
2023: Transition for SaaS-powered growth Cloud MyStay Mobile • Cloud reduces the complexity and time to • Significantly expands addressable market implement and operate CXP (Care by enabling hospitals to benefit from the Experience Platform) and reduces customer CXP without capital cost of total cos
Slide 14: 2023 Product Usage & Utilisation
2023 Product Usage & Utilisation 3,792,413 Hours of Entertainment 16% increase since 2022 33,645 711,114 hours 1,090,014 Hours of 3rd Party Entertainment Apps Oneview Staff Time “Saved” 14% increase since 2022 Admissions by Oneview Workflows 968,913 Pieces of Assigned Education 95% increase since 20
Slide 15: Product Innovation in 2023
Product Innovation in 2023 • MyStay Mobile – delivered first phase of our new product, bringing the power of the Care Experience Platform to patients’ own devices • Virtual Care API enhancement – added support for observation workflows • Simplified device pairing – simplified the user experience for
Slide 16: Growth Drivers
Growth Drivers 16 Onéview>
Slide 17: Virtual Care
Virtual Care 17 oneviewhealthcare.com Onéview>
Slide 18: The Need For Change
The Need For Change As of March 2023, 45 percent of inpatient nurses … reported they are likely to leave their role in the next six months … nurses have consistently reported increasing workload burden as a main factor behind their intent to leave. McKinsey - Closing the nursing workforce gap https:
Slide 19: What is Virtual Nursing?
What is Virtual Nursing? • Expert, advanced practice nurse based in a remote command center • Supports non-physical care provision: patient education, staff mentoring, patient observation, physician rounding, admissions and discharges • Virtual nursing aims to improve patient safety1 and provide a m
Slide 20: Our Virtual Care Strategy
Our Virtual Care Strategy • We chose not to build into a highly competitive space but to leverage our platform in the room to partner with our customers’ preferred providers • Leverage patient TV/tablet to power virtual nursing in every patient room • Open Virtual Care API enables any certified plat
Slide 21: MyStay Mobile
MyStay Mobile 21 oneviewhealthcare.com Onéview>
Slide 22: Drivers For Change
Drivers For Change Rising consumer expectations High smartphone adoption Reducing task burden Patient expectations of 97% of under 50 year olds Up to 12% of nurse time could care experiences are 89% of 50-64 year olds be freed by delegation3 evolving, catalysed by 76% of 65+ year olds2 the pandemic1
Slide 23: Introducing MyStay Mobile
Introducing MyStay Mobile • Capital-constrained healthcare providers require a solution that balances affordability with quality patient care and reduced task burden for nursing • Oneview’s MyStay Mobile product brings the power of our industry- proven Care Experience Platform to patients’ own devic
Slide 24: MyStay Mobile
MyStay Mobile MyStay Mobile is Patients can utilise existing designed to features of Oneview’s Care personalise the in- Experience Platform (CXP) patient experience and from the convenience of their empower the patient OWN PERSONAL MOBILE by putting them at the DEVICE, providing access via heart of
Slide 25: Strategic Partnership
Strategic Partnership 25 oneviewhealthcare.com Onéview>
Slide 26: Baxter VAR Agreement
Baxter VAR Agreement Oneview entered into a Value-Added Reselling Baxter International Inc (NYSE: BAX) is a Agreement (VAR) with Baxter to resell leading provider of connected hospital beds to Oneview’s CXP (Care Experience Platform) in the US market and offers one of the leading the US market. care
Slide 27: Baxter International & Oneview
Baxter International & Oneview Q3 Oneview has engaged with over 100 different 2023 Market Launch Baxter personnel We are now deeply integrated into Baxter's internal Q4 Oneview solution installed in Baxter’s Customer processes from “order to cash”, project management 2023 Experience Centers and impl
Slide 28: Baxter International & Oneview
Baxter International & Oneview Baxter’s “Connected Care” sales force As partnership matures, Baxter will be will sell Oneview’s cloud-hosted CXP empowered to implement CXP, meaning alongside complementary technology revenue should scale with minimal OPEX solutions.* increase.* Distribution to Baxter
Slide 29: 2023 Financial Results
2023 Financial Results Onéview> 29
Slide 30: Capital Structure
Capital Structure Ticker ASX: ONE Share Price (AUD) $0.325 Current shares on issue (undiluted) 669.4 m Market Capitalisation $272 m Restricted Share Units & Share Options Restricted Share Units 34.4 m Share Options 1.5 m Fully Diluted Shares 705.3 m Values as at 27/2/2024 30
Slide 31: FY2023 Income Statement
FY2023 Income Statement • Total revenue increased by 5%. Recurring revenue increased VARIANCE % € millions by 7%. Average revenue per bed of live beds increased 13% FY23 FY22 (FY23 – FY22) Recurring revenue 6.60 6.19 7% YoY due to sunsetting of Gen 2 beds replaced by Gen 3 Non recurring revenue 2.80
Slide 32: FY2023 Balance Sheet
FY2023 Balance Sheet At At € millions • Cash balance of €11.5m (A$19.0m), reflecting 31-Dec-23 31-Dec-22 A$22.8m equity raise in July/August 2023 Assets Cash and cash equivalents 11.55 6.41 • Property, plant and equipment increased due to Trade and other receivables 5.71 3.34 capitalisation of lease
Slide 33: FY2023 Cash Flow
FY2023 Cash Flow € millions FY23 FY22 Cash flows from operating activities Receipts from customers 9.72 8.84 • Net cash of €11.5m (A$18.8m) at 31 Dec 2023 Legal claim settlement proceeds - 1.36 Payments to suppliers and employees (16.81) (19.61) • A$22.8m/€13.8m equity raise reflected Research and d
Slide 34: ESG update
Oneview Healthcare [ASX:ONE] ESG update ESG Focus Areas CORPORATE BOARD GLOBAL PURPOSE COMPOSITION TAXATION RESEARCH & 2023 Highlights and achievements DEVELOPMENT STAKEHOLDER 21 1 2 CONSULTATION FINANCIAL ● Diversity & Inclusion report released INVESTMENT 20 3 for the quarter 19 Board composition u
Slide 35: Market Conditions and Outlook
Market Conditions and Outlook 35
Slide 36: 2024 Outlook
2024 Outlook Multiple growth drivers in-situ to drive significant top-line growth and improved margins Baxter Commercial partnership Leveraging availability of poised to Oneview as the in- MyStay Mobile will €2.9m of hardware dramatically room platform for shorten sales cycles AI-based shipments del
Slide 37: Breaking News
Breaking News • First New Logo of 2024 signed • Deploying at the Love Family Women’s Center in Oklahoma City in April 2024 • Mercy own 44 hospitals with 6,000 beds across the seven states of Arkansas, Kansas, Louisiana, Mississippi, Missouri, Oklahoma and Texas. • Enterprise agreement over 2,800 add
Slide 38: 2024 Growth Drivers
2024 Growth Drivers Virtual Care MyStay Mobile Baxter Partnership Leveraging the power of Leveraging the patient’s Leveraging one of the most the Oneview platform to own device to shorten powerful healthcare brands in support hybrid work sales cycles and the United States to penetrate models elimina
Slide 39: Why Oneview?
Why Oneview? Value Focused Enterprise Adoption Value Framework with class-leading 3 of the Top 20 US Hospitals data analytics platform to help guide Secure cloud delivery makes it faster, hospitals to success Enterprise-wide deployment NYU easier and more cost effective to Langone Health implement a
Slide 40: Delivering Value
Delivering Value Patient Care & Experience Care Team Experience Promote high-quality care and exceptional Alleviate staff burden and care team patient experiences while fostering diversity, workload by saving nurse time and equity and inclusion. enabling care model innovation Operations & Finance Pa
Slide 41: Our Customers
Our Customers 3 top 20 US hospitals 6 of the World’s Best Smart Hospitals US Australia & rest of world 41
Slide 42: Questions
Oneview> Unifying the care experience. Questions