Slide 1: Welcome to the 1Q23 webinar
Welcome to the 1Q23 webinar modulight
Slide 2: We do lasers and optics for a better life
We do lasers and optics for a better life Photoimmunotherapy combines photodynamic therapy and immunotherapy Benefits of photoimmunotherapy ü Photosensitizer covalently conjugated to antibody that has affinity for tumor cells (“third-generation photosensitizer”) Non-invasive and non-burdening treatm
Slide 3: Today's agenda
Today’s agenda q Q1 in brief q FDA approval q Financial highlights q R&D pipeline q Revenue model and customer base q Outlook q Q&A MSKCC (Memorial Sloan Kettering Cancer Center), New York, NY (Mar-23) 3
Slide 4: Q1 in brief
Q1 in brief q R&D pipeline remained record high at 27 projects and progressed well q PMA from the FDA received in January 2023 for our laser system for the treatment of wet-age-related macular degeneration (AMD) q Revenue grew 18% from 4Q22 and was EUR 1,493 thousand q The number of customer meeting
Slide 5: FDA approval
FDA approval q In January, Modulight received a pre-market approval (PMA) from the U.S. Food and Drug Administration (FDA) for its laser device for the treatment of wet age- related macular degeneration (AMD) in the United States q A significant step forward for Modulight and the industry in general
Slide 6: Financial highlights January–March 2023
Financial highlights January–March 2023 q Revenue -7% YoY mainly due to delays in customers’ research Revenue EBITDA EBIT projects and Modulight’s long sales cycles, but +18% from 4Q22 q Lower profitability due to lower EUR EUR EUR revenue and increased operational costs 1,493 -1,429 -1,903 q Accele
Slide 7: Key figures
Key figures Group EUR 1,000 unless otherwise noted 1–3/2023 1–3/2022 1–12/20221) Revenue 1,493 1,601 4,599 EBITDA -1,429 -418 -5,936 EBITDA - % -95.7% -26.1% -129.1% Operating result (EBIT) -1,903 -869 -7,792 Operating result (EBIT) - % -127.5% -54.3% -169.4% Earnings for the period -1,739 -1,224 -8
Slide 8: Strategic programs
Strategic programs 1. Sales, marketing and 2. Cloud technology and cloud 3. Productizing platform devices for operations development based service development various indications & applications 4. Technology development based on 5. Development of ESG, the completed investment program governance and
Slide 9: Solid R&D pipeline
Solid R&D pipeline Number of projects with commercialization potential q 27 projects (+0 from 4Q22) 30 q Several projects progressed well, 25 significant revenue potential in 2023 20 q Positive development in e.g. 15 cloud technology related to treatment of bladder cancer and 10 eye diseases, in new
Slide 10: R&D pipeline progressing
R&D pipeline progressing Customer: Established Japanese Customer: NYSE listed U.S. New business models (“SaaS”): pharmaceutical company pharmaceutical company Utilizing cloud.modulight.com services Indication: Glioblastoma Indication: Ophthalmology Progress with multiple customers on deploying the c
Slide 11: Revenue model
Revenue model The objective is revenue, based on the Customized R&D projects based on the Best Efforts share of pharmaceutical or treatment principle, without revenue risk for Modulight fees, or the utilization rate of industrial applications. Predictability of Modulight’s revenue is improving Curre
Slide 12: Modulight's customer base
Modulight’s customer base Customer ownership 30 25 q 11% are research companies 20 q 30% are privately owned 15 q 59% of customers are listed 10 companies q 63% are established companies 5 q 30% have over 1bn revenue 0 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 Hospitals and research in stitutions Private c
Slide 13: Outlook
Outlook Modulight has not issued guidance for revenue or profitability in 2023. As the company’s customer projects are still distributed across varying early stages of development, and predicting developments in the market remains challenging, it is difficult to forecast performance in 2023. However
Slide 14: Summary
Summary q In January 2023, pre-market approval from the FDA for a laser device for the treatment of wet age-related macular degeneration (AMD) in the United States q A significant increase in customer activity, most importantly customers visiting Modulight HQ in Tampere q Product development pipelin
Slide 15: Thank you! Questions?
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