Kuros Biosciences Ltd. · SIX:KURN
Kuros Biosciences — H1 2026 Earnings Presentation
19 slides from Kuros Biosciences's earnings presentation, Aug 13, 2026
Slide 1: Advancing growth & profitability in 2026
Advancing growth & profitability in 2026 H1 2026 Financial Results August 13, 2026 Ticker: KURN SIX Swiss Stock Exchange 1 1
Slide 2: Disclaimer
Disclaimer This presentation is private and confidential, has been furnished to you solely for your information and may not be reproduced, redistributed or disclosed in any way, in whole or in part, directly or indirectly, in or into the United States or the United Kingdom, Canada, Australia, Japan,
Slide 3: Kuros is now a profitable, high-growth medical technology company
Kuros is now a profitable, high-growth medical technology company Increasing profitability while growing 45% in H1 2026 Strong Revenue Growth Profitability Milestone Robust Financial Foundation $92.4M Total Medical Device sales $12.5M adjusted EBITDA* $9.7M cash, debt-free +45% growth Total
Slide 4: With increasing scale, a strengthened production platform, and a large market opportunity still ahead
With increasing scale, a strengthened production platform, and a large market opportunity still ahead of us Kuros Vision: To be a trusted global leader with an advanced orthobiologic portfolio, providing reliable, clinically proven solutions to hospitals surgeons & their patients COMMERCIAL LEADING
Slide 5: Strengthening market position through expanded adoption & partnerships
Strengthening market position through U.S. spine surgeon utilization consistently increasing, as total expanded adoption & partnerships number of spine surgeons increases1 Scaled distributor reach: 34% growth in independent agents & distributors 16% 14% Deepening hospital penetration: 164% growt
Slide 6: Expanding our presence & developing data to maximize reach
Expanding our presence & developing data to maximize reach Current 2026 Markets Market Targets $8.2B Spine: Targeted engagement $5.5B events, evidence generation and sales approach F&A, Trauma: One of few companies focused on biologics in this space including Level 1 evidence generation Magnet
Slide 7: Kuros is leading the way with prospective Level I studies
Kuros is leading the way with prospective Level I studies Focused on short-term (6-month) and long-term (12-month) outcomes to meet evolving surgeon practice and clinical data demands PROOF PRECISE ASTRA (N=60) (N=100) (N=126) Posterolateral fusion Posterolateral fusion Hindfoot & ankle fusion (PLF)
Slide 8: Continuing to innovate with evidence generation to help solve for challenges that surgeons face
Continuing to innovate with evidence generation to help solve for challenges that surgeons face: How can we be confident in a fusion? Together, this evidence portfolio helps demonstrate not only that fusion occurs, but how and where new bone forms NEW 1 Benchtop data 2 Preclinical (animal) 3 Clinica
Slide 9: New peer-reviewed study expands clinical evidence portfolio into cervical indication
New peer-reviewed study expands clinical evidence portfolio into cervical indication & validates 6-month early fusion in high-risk patients Dr. Om Neeley 63% of patients had ≥3 comorbidities Neurosurgeon, Methodist Physicians Neurosurgical Associates of San Antonio, San Antonio, USA 97.7% 6-month fu
Slide 10: Scale, operating leverage and structural improvements drive profitability
Scale, operating leverage and structural improvements drive profitability Revenue scale outpaced fixed Exceptional Growth Trajectory: Revenue increased ~566% since H1 costs, driving operating leverage 2023, while fixed costs grew ~271%, demonstrating operating leverage 100 100% Operational & Dig
Slide 11: Maintaining margins and maximizing operational efficiencies
Maintaining margins and maximizing operational efficiencies Gross margin* Sales & Marketing MagnetOs 100,000 95.0% 60,000 80.0% Tariff Gross Margin Gross margin % (incl. tariff) Gross margin % (excl. tariff) Sales & Marketing as % of revenue 50,000 80,000 60.0% 90.0% USD ‘000 40,000 USD ‘000 60,000
Slide 12: Driving innovation, clinical evidence and business transformation
Driving innovation, clinical evidence and business transformation Research & Development* General & Administrative 8,000 12% 20,000 40% R&D as % of revenue G&A as % of revenue 10% 6,000 15,000 30% USD ‘000 USD ‘000 8% 4,000 6% 10,000 20% 4% 2,000 5,000 10% 2% - 0% - 0% H1 2023 H2 2023 H1 2024 H2 202
Slide 13: Scale, leverage and structural improvements delivered 13.6% adjusted EBITDA margin, $4.4M net profit and $0.11 EPS
Scale, leverage and structural improvements delivered 13.6% adjusted EBITDA margin, $4.4M net profit and $0.11 EPS Group EBITDA Adjusted EBITDA* and Net Profit 9 20% 20 EBITDA as % of revenue 18 6 -10% 16 14 -40% $ million 12 Title 3 $ million -70% 10 -5.1 Axis 0 8 -100% 6 12.5 -2.2 0.7 -1.5 4 7.4 -
Slide 14: Investing in growth, innovation, clinical evidence and production capacity
Investing in growth, innovation, clinical evidence and production capacity Cash development H1 2026 Securely financed for organic path forward 9.2 10.4 22.2 USD ‘000 Jun 30, 2026 19.8 18.6 6.7 12.4 12.4 Cash and cash equivalents 9,733 $ million 0.4 2.5 9.8 Series 1 Trade and other receivables 44,447
Slide 15: Operating leverage increases as revenue scales toward $300-330M by 2028E
Operating leverage increases as revenue scales toward $300-330M by 2028E 2025 revenue expected to more than double by 2028, S&M and G&A decline as a percentage of revenue, COGS improves, R&D remains disciplined Key growth drivers Increase surgeon adoption REVENUE 2025 2026 Broaden hospital acces
Slide 16: New U.S. site strengthens dual-source supply platform
New U.S. site strengthens dual-source supply platform U.S. manufacturing site adds scale and resilience Brand-new Alpharetta, Georgia office and production facility U.S. manufacturing expected to strengthen supply to key U.S. markets Bilthoven, NL Dual-source supply to minimize risk & drive ef
Slide 17: Our strategic roadmap: From breakout growth to scalable leadership
Our strategic roadmap: From breakout growth to scalable leadership Vision-led growth across indications, geographies and platform scale – the view beyond 2028 VISION MISSION To be a trusted global leader with an advanced orthobiologic portfolio, To discover, develop and deliver innovative biologic t
Slide 18: Expanding the portfolio and business development projects pipeline
Expanding the portfolio and business development projects pipeline Balanced portfolio strategy delivering near-term revenue and long-term growth SHORT TERM MID TERM LONG TERM 0-2 years 2-5 years 5+ years Launch Develop Explore Resorbable, settable bone Future product initiatives MagnetOs MIS Gen2 vo
Slide 19: Thank you
Thank you 19 MAT-0382 19