Pro Medicus, Ltd. · ASX:PME
Pro Medicus — Macquarie Conference May 2024
31 slides from Pro Medicus's conference presentation, May 8, 2024
Slide 1: Macquarie Conference May 2024
Macquarie Conference May 2024
Slide 2: Pro Medicus (ASX:PME)
PRO MEDICUS (ASX:PME) Healthcare IT company specializing in Enterprise Imaging and Radiology Information System (RIS) software. Leading edge products, growing global presence. EU HQ/R&D Berlin GmbH U.S. HQ San Diego CA GROUP HQ Melbourne AUS OVER 40+ SOFTWARE ENGINEERS 2
Slide 3: Results HY 2024
RESULTS HY 2024 $74.1M $36.3M $48.9M 66.0% Revenue Profit Underlying EBIT up 30.3% after tax EBIT margins up 33.3% up 31.5% $131.5M $0.18 Cash Company Strong Interim & debt balance dividend FF Investments free sheet Up 38.5% up 8.3%
Slide 4: HY 2024 Revenue Split
HY 2024 REVENUE SPLIT $80,000,000 1H v 2H revenue split Exam/licence revenue*** Support/baseline revenue*** Capital revenue Professional Services*** Archive data migration ***Recurring revenue $2,899,000 $70,000,000 $3,823,164 $1,561,000 $4,911,608 $11,026,619 $60,000,000 $498,000 $9,999,017 $3,348,
Slide 5: Highlights HY 2024
HIGHLIGHTS Continues to grow HY 2024 STRONGLY CURRENT PIPELINE $24M/7 years $140M/10 years $16M/8 years $20M/8 years Continues to grow New Contract New Contract STRONGLY New Contract New Contract JULY SEPTEMBER OCTOBER NOVEMBER NOVEMBER - 2023 2023 2023 2023 DECEMBER CURRENT 2023 PIPELINE 5
Slide 6: Operational (Transaction) Model
OPERATONAL (TRANSACTION) MODEL • Used in vast majority of US contracts • Delivered as SaaS model • Model based on transaction minimums • Forward revenue > A$608M/5 years* • Upside as client examination volumes grow • Annuity style revenue stream – greater predictability * Assumes key contracts up fo
Slide 7: Operating Leverage
OPERATING LEVERAGE • Highly scalable offering • SW only model • Training & Installation – charged as professional services • Contained cost base • Margin continues to grow as footprint increases 7
Slide 8: In Review: 2023/2024 Top Hospitals
In Review 2023/2024 Top Hospitals (alphabetical order) 8
Slide 9: Increasing footprint in the IDN space
Increasing footprint in the IDN space • IDNs represent the largest segment of the market • Existing large IDN clients – Mercy, Sutter Health, Intermountain, Medstar. • Momentum increasing with 6 sales to IDN’s in the last 18 months • All sales for more than one Visage product • All six opportunities
Slide 10: Visage 7.0
Visage 7.0 Continues to be #1 in Speed, Functionality and Scalability. SPEED FUNCTIONALITY SCALABILITY
Slide 11: Massive Data Explosion
MASSIVE DATA EXPLOSION • High density Multi-slice CT - 10,000+ images • HD Breast Tomosynthesis - 6 GB+ • Optoacoustic breast ultrasound - 10+ GB • Total Body PET Scan - 10+ GB • 7T MRI - much larger than 3T
Slide 12: Legacy Technology
LEGACY TECHNOLOGY “Compress and Send” MODALITIES PACS RADIOLOGIST/CLINICIAN
Slide 13: Visage Solution: Streaming Technology
Visage SOLUTION: VISAGE 7 Streaming Technology BACKEND RENDER SERVER SERVER RADIOLOGIST/CLINICIAN MODALITIES
Slide 14: Fast Track Implementation
FAST TRACK IMPLEMENTATION • All implementations on or ahead of schedule • Fast track methodology continues to deliver • Large scale projects completed well under 1/4 the time of industry norm • Delivers huge savings for client • Frees PME staff for other jobs • Reduces barrier to change • New highly
Slide 15: Visage – Proven ROI
VISAGE – PROVEN ROI Significant IT & Unparalleled Greater Clinical Infrastructure Increase in Accuracy Savings Radiologist Efficiency Improved Physician Delivers Superior Engagement Value Proposition 15
Slide 16: Clinical Outcomes
Clinical Outcomes Moving the Needle 16
Slide 17: Growth Strategy
GROWTH STRATEGY New product offerings – Transaction growth V7OA, worklist Extend to new from existing clients geographical markets Leverage R&D capability to Expand footprint introduce next – new clients generation products 17
Slide 18: North America – TAM
NORTH AMERICA – TAM • 650 Million exams performed per annum in the US • Growing by ~ 3.5% per year • Visage able to address 100% of TAM from a product perspective • ~ 85% of TAM addressable from commercial perspective – “full stack”, Cloud etc • Current penetration is 7% and growing • Very significa
Slide 19: North American Pipeline
NORTH AMERICAN PIPELINE Prospects Progressing Network Effect through various stages of the cycle Opportunities Increasing due to recent high-profile wins in both Tier 1 academic and IDN Increased number markets Pipeline Robust of inbound RFPs across all market segments In terms of quality and quanti
Slide 20: Visage 7 Open Archive
VISAGE 7 OPEN ARCHIVE • Same highly scalable Visage 7 platform • Visage 7 Open Archive integral part of “Full Stack” solution • Pipeline includes numerous Visage 7 Open Archive opportunities • Key component of Visage in the Cloud strategy • Transaction based model with potential upside 20
Slide 21: Visage 7 Workflow
VISAGE 7 WORKFLOW • Adds to Visage 7 Viewer and Open Archive modules • Based on over 30 years experience in Worklist SW • Allows PME to offer “full stack” solution • Integral part of Visage in the Cloud SaaS solution • Ability to interface with broad range of AI algorithms • Sold in majority of rece
Slide 22: Visage CloudPACS
Visage CloudPACS • Visage 7 – fully Cloud native • Ultrafast performance • Full Visage 7 functionality + security and scale of cloud • Cloud vendor agnostic - large scale implementations in all 3 cloud vendors - AWS, Azure and Google GCP • Pipeline mandating Cloud deployment • Significant strategic
Slide 23: One Viewer - Cardiology
One Viewer - Cardiology VISAGE TMAGING’ Platform For The Future — Powered By Speed. provmedicus VISAGE IMAGING’ 23
Slide 24: AI in Radiology
AI in Radiology • Imbedded in SW or imaging equipment • Prioritisation of cases – eg intracranial haemorrhage • Screening – eg early-stage lung nodule detection • Aid to diagnosis – 2nd opinion, incidental findings • Automated diagnosis 24
Slide 25: AI Research Leadership
AI Research Leadership Malte Westerhoff, PhD Global Chief Technology Officer Detlev Stalling, PhD Head of Development Ming De Lin, PhD Clinical Research Manager North America Raj Moily, MBBS, PhD , MBA Director, AI Business Development North America 25
Slide 26: Visage Eco System
Visage 7 Eco System Oj ONE VIEWER™ FOR ALL ALL PHYSICIANS & CLINICIANS (Any Location*) (R Radiology ® Cardiology R Breast Imaging @® Ophthalmology VISAGE IN THE CLOUD" : me SE VISAGE’ 7 RESEARCH SERVER ALL MODALITIES. ALL LOCATIONS. VISAGE’ 7 & OPEN ARCHIVE VISAGE TMAGING'
Slide 27: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro “From the Flintstones to the Jetsons” 27
Slide 28: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro • Launched 5th February with launch of Apple Vision Pro • Visage’s cinematic rendering engine natively embedded in Visage Ease VP • Supports virtual screens at more than 4K resolution for each eye • Immersive, spatial experiences for diagnostic imaging and multime
Slide 29: Visage Ease VP for Apple Vision Pro
Visage Ease VP for Apple Vision Pro “Underpins our belief that our technology is 18 to 24 months ahead of competitors, if not more” 29
Slide 30: Summary
SUMMARY • Most successful half in company’s history • North American footprint continues to grow strongly • Expanded product portfolio – “full stack” solution • Cloud – huge strategic advantage over competitors • Unparalleled value proposition both clinical and financial RoI • Pipeline Continues to
Slide 31: Thank You
A’\A Gy 4 VV . Wy THANK YOU pro+medicus