Slide 1: PatientSky Group 2Q 2022
PatientSky Group 2Q 2022 OSLO, August 29th, 2022
Slide 2: Disclaimer and Forward-Looking Statements
DISCLAIMER AND FORWARD-LOOKING STATEMENTS
Slide 3: Today's presenters
Today’s presenters Cy» PatientSky Kristian Ikast, CEO Christoffer Mathiesen, CFO « PatientSky Board Member in 2020 * CFO since 1. Nov 2021 * Global CEO and MD experience from + Experience from DNB Markets, ECCO, KIWI, and Clipper Pareto Securities and Medici Corporate
Slide 4: PatientSky
PatientSky
Slide 5: Agenda
1. 2Q highlights 2. The PatientSky business 3. Financials 4. Q&A 5. Closing remarks
Slide 6: Introduction to PatientSky
CD PatientSky Introduction to PatientSky ° Norwegian SaaS Business, build on top of our Norwegian platform, as the leading cloud-based EHR provider in Norway with: © 2264 clinics and NOK 187m in ARR (excl. sold not invoiced) o ~90% recurring revenue and 25-30% cash EBITDA margin J © Highly profitabl
Slide 7: Solid development on key strategic parameters
Solid development on key strategic parameters o Robust and growing pipeline with revenue effect during 2H22 o 27% MRR growth YoY, and 22% annualized for 2Q o Driven by migrations, new sales and low churn o NOK 48.0m in revenues (96% recurring) o Adj. cash EBITDA of NOK -21m, in line with previous qu
Slide 8: Update on international business
Update on international business
Slide 9: The SaaS business unit is currently the revenue generating unit of the Group
The SaaS business unit is currently the revenue generating unit of C by the Group and is the market leader in Norway within EHR-software PatientSky HoveTotal infodoc SKY UD EHR SOLUTIONS ON-PREMISE EHR SOLUTIONS Comments PattientSky Clinic Plenario in our segment and leading cloud provider ~50% of r
Slide 10: The SaaS business unit is now far on the strategy
The SaaS business unit is now far on the strategy C } “Everybody to the cloud” PatientSky M&A of on prem customers in Norway New customers on Cloud First mover on: ‘Today in Norway: Promed ( EOL) 1. Cloud Why 1, Leading EHR provider , PatientSky Clinic 2014 2. M&A 2. Biggest Cloud EHR eientes.ay 207
Slide 11: Freeing up resources to focus on new sales
Unaudited Financials Freeing up resources to focus on new sales with a more efficient go to market strategy PatientSky Strong sales momentum YTD - new clinics (as of mid-June) Improved sales performance Total new sales, # clinics Total new sales, # clinics / sales FTEs . YTD performance strong acros
Slide 12: Great momentum on sales pipeline, adding substantial cloud ARR
Unaudited Financials Great momentum on sales pipeline, adding substantial cloud ARR Sales activities now starting to yield real value Sales pipeline looks promising CD PatientSky Added ARR, secured (NOKm) Added ARR, pipeline (NOKm) 20 1.2x . ' 6 : 15 5 10 1H Grace + delivery ! Totalsales Named pipel
Slide 13: Finland organization & operations closing to improve efficiency and cost control
55 68 67 121 115 111 • Finland organization & operations closing to improve efficiency and cost control • • •
Slide 14: Quarterly revenue and adj. cash EBITDA
Quarterly revenue and adj. cash EBITDA, NOKm / % 1H22 adj. cash EBITDA, NOKm Key highlights Revenue Group • We see good momentum in cloud revenue, which Adj. Cash EBITDA SaaS for the first time is as high as on-premise recurring revenues (end of quarter) 55.3 51.7 51.4 51.7 50.1 • For 2Q total reven
Slide 15: Revenue breakdown
Revenue breakdown, NOKm Annualized growth, Comments 55.3 • 51.4 51.7 5.6 50.1 6.0 4.4 2.4 48.0 6.0 1.9 5.3 6.0 5.0 22% 5.4 • 25.2 21.6 20.6 25.2 25.3 • 18.5 20.1 20.5 14.7 16.7 -29% -33% • Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 -37% On-prem All Cloud Variable recurring recurring recurring recurring
Slide 16: Continued Business MRR (ex ProMed)
Continued Business MRR (ex ProMed), NOKm Comments MRR Cloud • MRR development through 2021 and 2022 MRR On-prem shown ex Promed due to EoL finalization MRR Notifications & Enterprise • Variable MRR presented with both 15.6 15.5 15.9 16.1 16.2 16.0 15.9 15.5 15.6 notifications- and enterprise revenue
Slide 17: 2Q22 customer development
2Q22 customer development (paying clinics with EHR licenses only) Comments Cloud 1 222 • development 20 1 156 69 20 20 15 12 1 136 1 202 • • Start Q2, Definition Adj. Start Q2 Churn New Upgraded End Q2 excl. Promed change in grace On-prem 1 042 1 035 development 131 131 131 • 904 1 9 1 904 911 • Sta
Slide 18: Paying Cloud and On-prem licenses
Paying Cloud and On-prem licenses Comments Cloud development • • On-premise development • •
Slide 19: Cloud churn and On-prem churn
On-prem churn Cloud churn Comments • Cloud churn presented in nominal values to On-prem customer churn Cloud customer churn better reflect the actual number of clinics that have churned during the quarters. The numbers shows a stable and low churn for the clouded solutions 65 • On-premise has an ele
Slide 20: The SaaS Business is still highly profitable and cash generative
Unaudited Financials The SaaS Business is still highly profitable and cash generative, ( b while the remaining financials reflect significant investments in international platform PatientSky 1H financials - SaaS Norway and rest of Group Comments . The breakdown is based on detailed analysis of costs
Slide 21: Cash and bank deposit, accounts receivable
Cash and bank deposit, NOKm Accounts receivable, NOKm Comments 246.0 76.4 227.1 • The management have, together with the board, initiated a thorough cost focus throughout the 197.9 organisation to maintain a healthy cash position for future plans and initiatives 165.2 • On the cash inflow, a more au
Slide 22: Highlights post 2Q22
CD PatientSky Highlights post 2Q22: ° We see a great sales and pipeline building up and customers in grace period becoming paying customers ° We see a great delivery pipeline build up where we can utilize our strong onboarding experience and standard tools ° Initiated initiatives to reduce costs, co
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Slide 24: Outlook and final remarks
Outlook and final remarks • High focus on improving earning efficiency and decrease complexity to ensure the long-term financial stability of the company. Focus is to be able to self-finance our journey • Focus on making PatientSky a profit generating company during 2023 • GTM on our international P
Slide 25: Appendix
PatientSky Appendix
Slide 26: Revenue breakdown
Revenue breakdown, Q3 2021 Q4 2021 Q1 2022 Q2 2022 QoQ Comments NOKm
Slide 27: Group Consolidated P&L
Appendix Group Consolidated P&L CD PatientSky 2Q comments Q2 2021 Q2 2022 . . NOKm * Revenue in 1Q22 is down compared to 1Q21, Revenue 51.4 48.0 but the recurring share is ~96% COGS 9.3 7.0 Gross profit 42.1 40.9 * The group experiences lower project revenues Personnel expenses 30.0 38.2 and variabl
Slide 28: Group Consolidated Balance Sheet
Group Consolidated Balance Sheet NOKm 31.12.2021 30.06.2022 • • •
Slide 29: Group Consolidated Cash Flow Statement
Group Consolidated Cash Flow Statement • • •
Slide 30: PatientSky
Cr» PatientSky