Resonance Health Ltd · ASX:RHT
Resonance Health — FY2025 Earnings Presentation
26 slides from Resonance Health's earnings presentation, Aug 29, 2025
Slide 1: Slide 1
Slide 2: Slide 2
Slide 3: FY25 Full-Year Results & FY26 Guidance
Resonance Health FY25 Full-Year Results & FY26 Guidance August 2025 Andrew Harrison, CEO Benjamin Carruthers, CFO 1 1
Slide 4: FY25 Full-Year Highlights
FY25 Full-Year Highlights ü Full-year revenue of $11.1M up 29% on FY24. FY23 to FY25 revenue compounded annual growth rate (CAGR) of 43%. ü Business transformation into three profit generating business segments well underway. ü Normalised Operating EBITDA* of $1.4M up 24% on FY24. ü Record cash rece
Slide 5: Business transformation well underway
Business transformation well underway *Normalised Operating EBITDA = Statutory Net Loss – (R&D tax Credit, FX gain, Share based payments) + (Depreciation, amortisation & net interest expense, one-off restructuring & transaction costs, and unearned income). 3
Slide 6: Quarterly Revenue vs Cash Receipts – Q1FY24 to Q4FY25
Quarterly Revenue vs Cash Receipts – Q1FY24 to Q4FY25 ü Strong growth in both revenues and cash receipts. ü Strong positive operating cashflow. ü Revenue recognition not reflective of invoiced revenue (net $2.6M in unearned income on balance sheet at 30 June 2025). 4
Slide 7: FY25 Normalised Operating EBITDA Bridge
FY25 Normalised Operating EBITDA* Bridge *Normalised Operating EBITDA = Statutory Net Loss – (R&D tax Credit, FX gain, Share based payments) + (Depreciation, amortisation & net interest expense, one-off restructuring & transaction costs, and unearned income). 5
Slide 8: Step change in Cashflow from Operations
Step change in Cashflow from Operations Net Operating Cashflow = cashflow from operating activities + grants + tax. Free cashflow = Net Operating Cashflow – net interest expense – maintenance capex. 6
Slide 9: Cashflow – FY25 v FY24
Cashflow – FY25 v FY24 Cashflow Metrics (Mill) FY25 FY24 Change $ Change % $M Normalised Operating EBITDA* 1.4 1.1 0.3 24% Cashflows from operating activities** 1.2 0.4 0.8 228% Net cash from operating activities 1.2 1.4 (0.1) (10%) Net interest (0.2) 0.2 (0.3) (229%) Capex - Maintenance 0.1 0.2 (0.
Slide 10: FY25 Free Cashflow Bridge
FY25 Free Cashflow Bridge 1 Net Operating Cashflow = cashflow from operating activities + grants + tax. Free cashflow = Net Operating Cashflow – net interest expense – maintenance capex. 8
Slide 11: Profit & Loss – FY25 v FY24
Profit & Loss – FY25 v FY24 Profit & Loss Summary1 FY25 FY24 Change $ Change % ü 29% revenue growth year on year. Revenue $M 11.1 8.6 2.5 29% ü 13% normalised operating EBITDA Normalised Operating EBITDA* $M 1.4 1.1 0.3 24% margin, significant operating leverage driving margin accretion Normalised O
Slide 12: Balance Sheet – FY25 v FY24
Balance Sheet – FY25 v FY24 Balance Sheet Summary1 $M FY25 FY24 Assets Cash and cash equivalents 3.0 6.9 Trade debtors and other receivables 3.5 2.3 Intangibles ü Strong cash position at $3.0M. 9.5 9.9 PPE and other assets 1.9 1.2 ü More efficient use of balance sheet with $2.9M in senior secured de
Slide 13: Resonance Health specialises in central imaging (SaMD), CRO and investigator site services
Resonance Health specialises in providing central imaging (SaMD) services, contract research organisation (CRO) services and investigator site (TrialsWest) services to global pharmaceutical and biotechnology companies, hospitals and radiology centres. Central Imaging Vendor Contract Research Organis
Slide 14: Central Imaging (SaMD) Business
Central Imaging (SaMD) Business ü SaMD business segment revenue $5.0M for the full year. ü Entered new and extended clinical trial service agreements for provision of SaMD services in clinical trials (approximately $4.5M in new contracts across 2 to 4-year terms). Additional contracts under bid wort
Slide 15: Resonance Clinical (Contract Research Organisation)
Resonance Clinical (Contract Research Organisation) ü Consolidation of Resonance Clinical business segment in the period. ü $20.1M in total CRO contract wins since August 2023. ü $4.2M in revenue in the full year, with invoices totalling $6.7M issued in the period (all now paid). ü Developed highly
Slide 16: Investigator Sites
Investigator Sites ü TrialsWest revenue of $1.9M in FY25. Total invoiced revenue $2.7M, of that ~$800k was generated through the trials run by Resonance Clinical. ü Second TrialsWest site opened north of Perth in August 2024 started generating revenue in November 2024, now at profitable run-rate. ü
Slide 17: Normalised Results by Business Segment
Normalised Results by Business Segment .)("I%I0)1 ü All business segments are now !"#$%&'()* +%,- 3#'%&(4)(5 3"5%& 2&'I'0%& !"#$ "% & G( )*G+,+-.+/0#*+1.12 34 34 34 34 positively contributing at an operating level. 5*6*#0* 7")(% +$ *89*#)+J*6*#0* 2;- <;1 1;= >1;> 5*?"#?& % & ( )&"#+"@+$ *89*#)+J*6*#
Slide 18: Strong Path to Growth
Strong Path to Growth There are several key near term drivers of growth Automation Increase capacity of the business through automation including use of advanced AI products and bridge technology Early commercialisation of a non-invasive MRI Liver Fibrosis device Completion of Extended Proof of Conc
Slide 19: Business Outlook
Business Outlook Strong FY26 performance is expected on the back of strong FY25 results ü Continued growth in SaMD business volumes. ü Second Resonance Clinical contract will continue to generate revenue in FY26. ü Full year impact of second TrialsWest site (Osborne Park, WA) and establishment of th
Slide 20: Guidance FY26
Guidance FY26 FY26 Guidance $M Revenue 17 Underlying EBITDA 2 ü Target EBITDA margins over coming periods ~25% as operational leverage drives margin expansion. ü Operationally cashflow positive. ü Significant potential upside from conservative assumptions. Assumptions: ü No new TrialsWest sites duri
Slide 21: Significant revenue growth and diversification since FY23
Significant revenue growth and diversification since FY23 FY26 ü FY23–FY26 strong revenue growth FY23 (~45% CAGR) ü Profitable ~$2M EBITDA ü Diversified revenue ü Customer, clinical, and technical synergies Total Revenue $4.4M Total Revenue Guidance ~$17M 19
Slide 22: Disclaimer Forward Looking Statements
Disclaimer Forward Looking Statements This presentation has been prepared by Resonance Health Ltd (“Resonance Health” or “Company”) and may contain forward-looking statements that are based on current expectations and beliefs and are subject to numerous factors and uncertainties that could cause act
Slide 23: The Resonance Business
THE RESONANCE BUSINESS ü Resonance Health is an ASX listed provider of Software as a Medical Large Global Reach Device (SaMD), and Clinical Trial Services to Hospitals, Radiology Centres, and Pharma globally ü Currently used in more than 400 locations globally ü Actively currently involved in over 4
Slide 24: Strong Tailwinds
Strong Tailwinds Australian Clinical Trial Market Global Clinical Trial Market Key Drivers - Australia Key Drivers - Globally ü Approvals and regulatory system ü Increasing rapidity of technological breakthroughs ü Public private health system ü Shortening development timeframes ü Multi-cultural pop
Slide 25: Clinical Trial Ecosystem
Clinical Trial Ecosystem Clinical Trials are central to the development of new medicines and vaccines to prevent and treat disease. They require the coordinated action of a number of key stakeholders. Third Party Vendors Pharma & Biotech Companies Certain activities may be outsourced by Sponsors/CRO
Slide 26: Contact Us
Contact Us info@resonancehealth.com +61 8 9286 5300 resonancehealth.com resonance-health-ltd/ 24