Slide 1: Optomed Q4 2023
Optomed Q4 2023 15th February 2024 Juho Himberg, CEO Sakari Knuutti, CFO
Slide 2: Highlights
Highlights 1. 2. 3. Relatively soft Q4 but Optomed is waiting to Optomed expects its solid overall growth of receive FDA feedback full year 2024 revenue 3% in FY23 regarding the to grow compared to additional data of 2023 Aurora-AEYE
Slide 3: Q4-2023 Key Figures
Q4-2023 Key Figures A SLOWER QUARTER AFTER A VERY STRONG Q3 Q4/2023 Q4/2022 Change Revenue 3,660 4,013 -8.8% Gross profit 1) 2,489 2,764 -9.9% Gross margin 2) 68.0% 68.9% -0.9pps Adjusted EBITDA 3) -757 -347 -118.0% Adjusted EBITDA margin 4) -20.7% -8.7% -12.0pps Net profit / loss -1,530 -1,397 -9.5
Slide 4: 2023 Key Figures
2023 Key Figures WE GREW 3 % AND IMPROVED OUR PROFITABILITY IN SPITE OF EXTRAORDINARY ITEMS SUPPORTING FY22 2023 2022 Change Revenue 15,100 14,660 3.0% Gross profit 1) 10,292 10,069 2.2% Gross margin 2) 68.2% 68.7% -0.5pps Adjusted EBITDA 3) -1,470 -1,952 24.7% Adjusted EBITDA margin 4) -9.7% -13.3%
Slide 5: Segment highlights
Segment highlights OPT@MED
Slide 6: Devices Segment Q4-2023
Devices Segment Q4-2023 DEVICES SEGMENT HAD A SLOW QUARTER Q4/2023 Q4/2022 Change Revenue continued to grow in the 1. global distributor sales and in the US Revenue 1,023 1,275 -19.8 % The comparison period gross margin Gross profit 590 864 -31.7 % 2. was supported by project work for an OEM client
Slide 7: Devices Segment: Key Financials 2023
Devices Segment: Key Financials 2023 THE GLOBAL DISTRIBUTOR SALES AND USA GROWTH WAS OFFSET BY WEAK OEM SALES 2023 2022 Change % Revenue 5,009 5,398 -7.2% Gross profit1) 2,947 3,738 -21.2% Gross margin1) 58.8% 69.3% EBITDA1) -1,264 -670 -88.6% EBITDA margin1) -25.2% -12.4% 1) During the comparison p
Slide 8: Software Segment Q4-2023
Software Segment Q4-2023 SOFTWARE SEGMENT FACED TOUGH COMPARABLES Q4/2023 Q4/2022 Change Revenue decreased by 3.7 percent to 1. against very strong comparison period figures when the segment grew 23.2 Revenue 2,637 2,738 -3.7 % percent. Large agreement subject to a public Gross profit 1,899 1,900 -0
Slide 9: Software Segment: Key Financials 2023
Software Segment: Key Financials 2023 SOLID ~9% GROWTH DRIVEN BY HEALTHCARE SOLUTION SALES 2023 2022 Change % Revenue 10,091 9,263 8.9% Gross profit 7,346 6,330 16.0% Gross margin 72.8% 68.3% EBITDA 2,629 2,079 26.4% EBITDA margin 26.1% 22.4%
Slide 10: Cash Flow Q4-2023
Cash Flow Q4-2023 EUR 1 MILLION LOAN PAID BACK PREMATURELY Q4 2023 Q4 2022 Loss for the financial year -1,530 -1,397 Cash flows before change in net working capital -835 -275 • Net cash from operating activities was EUR -0.46 million Change in net working capital 434 233 Cash flows before finance it
Slide 11: Cash Flow: 2023
Cash Flow: 2023 WE IMPROVED OUR CASH FLOW PROFILE 2023 2022 Loss for the financial year -4,441 -5,472 Cash flows before change in net working capital -1,491 -2,479 Change in net working capital 1,137 308 Cash flows before finance items -354 -2,171 Cash flows from finance items -262 -199 Net cash fro
Slide 12: New Business Model
New Business Model SIGNIFICANT RECURRING REVENUE OPPORTUNITY IN THE US Complete Solution Recurring Revenue Model Customer Benefits Newly established From product sales to Solution leased, reimbursement complete screening No initial investments not sold – enables code CPT 92229 solutions with diagnos
Slide 13: Summary
Summary • Challenging Q4 but satisfactory FY2023 • Aurora-AEYE: waiting to receive FDA feedback • Optomed expects its full year 2024 revenue to grow compared to 2023
Slide 14: Appendix
Appendix
Slide 15: Balance Sheet
Balance Sheet 31 December 2023 31 December 2022 ASSETS Goodwill 4,256 4,256 • Equity ratio of 70.0 (65.5) Development costs 7,731 6,562 Other intangible assets 1,759 2,077 percent Total intangible assets 13,746 12,895 Total tangible assets 710 852 • Total borrowings of EUR 3.4 Total non-current asse