Slide 1: Welcome to the 2Q25 webinar
Welcome to the 2Q25 webinar August 22, 2025
Slide 2: Today's agenda
Today’s agenda ▪ Q2 and H1 in nutshell ▪ Financial highlights ▪ R&D pipeline progress ▪ Implementation of the strategy ▪ Outlook ▪ Summary ▪ Q&A
Slide 3: L re mp 3S °
L re mp 3S 3 °
Slide 4: We fight cancer with science and technology
This is Modulight We fight cancer with science and technology ▪ We are a biomedical company ▪ We also manufacture products that designs and manufactures for other high-value applications laser devices for the treatment such as flow cytometry, quantum of cancer and eye diseases and computing and digi
Slide 5: Q2 in brief
Q2 in brief ▪ Sales & EBITDA improve according to the strategy ▪ Pipeline increased and progress inside the pipeline ▪ Order intake from returning customers & related pipeline progress Revenue increased by 103% compared to the ▪ Exceptional customer activity during the summer & signup of several int
Slide 6: Financial highlights April–June 2025
▪ Revenue was 103% higher than in the Financial highlights April–June 2025 corresponding period of 2024 and 22% higher than in the previous quarter ▪ Wider customer base and accumulated backlog enabled growth ▪ The transition to the PPT business model and delays caused by inconsistent quality of cer
Slide 7: Financial highlights Jan–June 2025
Financial highlights Jan–June 2025 ▪ Revenue was 76% higher than in the corresponding period of 2024 and 72% higher than in 2H24 ▪ Wider customer base enabled growth despite delays caused by third parties Revenue EBITDA EBIT ▪ The transition to the PPT business model is developing slower than expect
Slide 8: Key figures
Key figures Group EUR 1,000 unless otherwise noted 4–6/2025 4-6/2024 1–6/2025 1-6/2024 1–12/2024 1) Revenue 1,962 965 3,568 2,024 4,095 EBITDA -43 -1,221 -625 -2,535 -4,836 EBITDA - % -2.2% -126.5% -17.5 % -125.3% -118.1% Operating result (EBIT) -1,055 -2,047 -2,640 -4,026 -8,337 Operating result (E
Slide 9: Growth in the R&D pipeline
Growth in the R&D pipeline ▪ R&D pipeline increased to 32 (30) projects – aim in all projects is to Number of projects with commercialization potential commercialize our own products ▪ PPT sites to 60 – growth with most 35 important sites ▪ Earlier reported 3rd party induced 30 delays with some of o
Slide 10: Modulight's customer base
Modulight’s customer base Customer maturity Customer ownership continues to improve 35 30 ▪ 35% have over 1bn revenue ▪ 60% of customers are listed 25 companies ▪ 60% are established companies 20 ▪ 34% are privately owned 15 ▪ 6% are research companies 10 5 0 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23
Slide 11: Strategy and targets
Strategy and targets Extension of the offering to new Commercial and indications and applications operational excellence Geographical New business State-of-the-art laser expansion models technology expertise
Slide 12: Geographical expansion
Geographical expansion ▪ Exceptional number of customer visits & activity during the summer – mostly from US but also other geographies Modulight seeks growth ▪ Geographical expansion continued and has especially in the US market, resulted in increased business in US but also where the company has o
Slide 13: New business models
New business models ▪ 60 sites have PPT devices installed today ▪ Stability on PPT revenue stream continues to improve (small but now already meaningful) ▪ Usage per site exceeds our expectation Modulight strongly seeks in particularly in ophthalmology but growth through SaaS-based signing up new si
Slide 14: New indications and applications
New indications and applications ▪ Most clinical work with existing customers projects ▪ Three new interesting customers (all multi- billion-dollar companies) signed up – expect Modulight aims to expand to add all to pipeline later its offering to cover other indications as well as ▪ Some customers
Slide 15: Commercial and operational excellence
Commercial and operational excellence ▪ Focus on operational efficiency improved operating margins is seen now in several quarters sequential improvement and we continue to Modulight aims to develop improve productivity & cost structure its commercial and ▪ Changes in operations done during operatio
Slide 16: State-of-the-art laser technology expertise
State-of-the-art laser technology expertise ▪ Good progress with technology (platform) & quality issues has enabled progress in several customer projects Modulight continues ▪ Own factory in Finland is increasing in value and as investments into high value competitive advantage in current global tur
Slide 17: Outlook
Outlook Most of Modulight’s customer projects are various types in the early stages of development. These projects are focused on commercializing Modulight’s own products. In line with its strategy, Modulight is also transitioning from device delivery- based payments to a new treatment-session-based
Slide 18: Summary
Summary ▪ Sales & EBITDA continue to progress according to the strategy ▪ PPT sites to 60 – growth with most important sites ▪ New customers signed up – beat big companies in new ranging decisions for future products ▪ The R&D pipeline 32 (30) ▪ Pilot production ▪ Repeat orders from existing custome
Slide 19: Thank you! Questions?
Thank you! Questions?