Resonance Health Ltd · ASX:RHT
Resonance Health — FY2024 Earnings Presentation
16 slides from Resonance Health's earnings presentation, Aug 30, 2024
Slide 1: FY24 Results Presentation
FY24 Results Presentation Andrew Harrison, CEO Benjamin Carruthers, CFO 30th August 2024 1
Slide 2: FY24 Results Summary
FY24 RESULTS SUMMARY Revenue Normalised Normalised Operating EBITDA1 Operating $8.6M $1.12M EBITDA margin1 Up 95% pcp Up 234% pcp 13% Free Cashflow2 Free Cashflow / EPS $1.0M Operating EBITDA 0.04 CPS Up 314% pcp 90% Up 0.21 CPS pcp Net Cash $3.68M 1Normalised Operating EBITDA = Statutory Net Profit
Slide 3: FY24 Highlights
FY24 HIGHLIGHTS ü Revenue of $8.6M, an increase of $4.2M or 95% on the prior corresponding period (PCP) ü Reported Normalised EBITDA of $0.69M, an increase of $1.5M or 183% on PCP ü 1Normalised Operating EBITDA of $1.12M, an increase of $1.96M or 234% on the PCP ü 1Normalised Operating EBITDA margin
Slide 4: Normalised Operating EBITDA Bridge
FY24 NORMALISED OPERATING EBITDA BRIDGE Full Year Results June 2024 Statutory to Normalised Operating EBITDA Bridge $1,123,631 $425,554 $255,219 $242,727 $169,303 $827,020 -$796,192 - Tax credits +Depreceation +Restructuring & transaction… Stat Net Profit +Share based payments +Amortisation Operatin
Slide 5: Free Cashflow Bridge
FY24 FREE CASHFLOW BRIDGE FY24 Free Cashflow Bridge $1,006,000 $1,387,000 -$152,000 -$229,000 Net Operating Cashflow - Interest Received Less capex Free Cashflow 5
Slide 6: Profit & Loss
FY24 PROFIT & LOSS Profit & Loss Summary1 $M FY24 FY23 %Change Revenue 8.6 4.4 +95% ü 95% revenue growth year on year Normalised Operating EBITDA 1.12 (0.8) +234% Normalised Operating EBITDA Margin 13% - ü 13% normalised operating EBITDA margin, significant Income Tax benefit 0.8 0.5 operating lever
Slide 7: Balance Sheet
FY24 BALANCE SHEET $M FY24 FY23 Balance Sheet Summary1 Liabilities Current Liabilities $M FY24 FY23 Borrowings 0.32 0.00 Assets Deferred Consideration Payable 4.00 0.00 Current Assets Other Liabilities 1.82 0.87 Cash & Equivalents 6.85 6.36 Total Current Liabilities 6.14 0.87 Other 2.43 1.19 Total C
Slide 8: Cashflow
FY24 CASHFLOW Cashflow Metrics (Mill) FY24 FY23 Change $ Change % $M Normalised Operating EBITDA 1.12 (0.8) +1.96M 234% Net cash from operating activities 1.39 (0.16) +1.54M 983% Capex - Maintenance (0.2) (0.2) - - 1Free Cashflow 1.0 (0.47) +1.47 314% Free Cashflow/ Operating EBITDA 90% - ü Strong p
Slide 9: 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 10: 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 11: TrialsWest – Overview
TRIALSWEST – OVERVIEW ü Located in Perth, Western Australia ü 13 staff led by Dr Helen Pavitt, Michelle Davies, and Prof Peter Bremner who will continue with the business ü Dr Pavitt joins Resonance as VP of the Clinical Trials group ü Currently operating more than 25 trials across a range of discip
Slide 12: TrialsWest – Results
TRIALSWEST – RESULTS Results ahead of expectations ü Deal was struck to acquire TrialsWest in 3rd Quarter FY24 ü At that time, full year Revenue & EBITDA was forecast to be $2M & $0.667K respectively at a 33% operating margin ü Project wins and new trial commencements saw significant growth of the b
Slide 13: Growth Opportunities
GROWTH OPPORTUNITIES Execution Services Trial sites, patient recruitment, mobile visits. Existing Products FerriScan®, HepaFat®, Cardiac-T2* and others. Resonance Clinical Clinical Trial Management Services Pharma Clinical Trials Product Improvements Cardiac 3T, FerriScan® Shorter Acquisition, and o
Slide 14: Business Outlook
BUSINESS OUTLOOK Strong FY25 performance is expected on the back of strong FY24 results ü Record FY24 Revenue of $8.6M (+95% pcp) ü Growth in SaMD business volumes ü Balance of the current clinical trial contract management agreement of $2.5M expected to be invoiced in FY25 ü Full year impact of $2M
Slide 15: Disclaimer
DISCLAIMER 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 actual results to differ mater
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