Polynovo Limited · ASX:PNV
Polynovo — FY2022 Earnings Presentation
17 slides from Polynovo's earnings presentation, Aug 26, 2022
Slide 1: PolyNovo FY22 Results: Accelerating Global Impact
PolyNovo FY22 Results (in conjunction with Appendix 4E) Accelerating Global Impact 26 August 2022
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by PolyNovo Limited and is provided for general information purposes only. No party other than PolyNovo has authorised or caused the issue of this document, or takes responsibility for, or makes any statements, representations or undertakings in this pr
Slide 3: Picking up pace, post Covid
Picking up pace, post Covid Total Group Revenue * 42.8% 41.9m 32.0% $29.3m 54.6% $22.2m 110.5% $14.4m $6.8m FY18 FY19 FY20 FY21 FY22 • Includes BTM product sales, BARDA contract revenue and Other Income 3
Slide 4: Investing for Growth
Investing for Growth • Investing in R&D, Sales & Marketing • Increasing revenue and market share Total Employees Group BTM Sales ($AUD) 47.6% $37.6m 152 33.8% 106 $25.5m 103.9% 135 customer 78 $19.1m accounts added in FY22 47 $9.3m FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 4
Slide 5: Marketing and Sales
Marketing and Sales Highlights by region
Slide 6: Highlights FY22 U.S.
Highlights FY22 U.S. Profitability • U.S. business is profitable on a standalone basis • Profitability continues to grow Building the Team • Total U.S. headcount 67, up from last year 42 • Plans to increase the team further in FY23 Customer Account Acquisition • 75 new accounts added in FY22 • Rate
Slide 7: Highlights Rest of World
Highlights Rest of World Building the Team • Total ANZ headcount 75, up from last year 58 • Total UKI headcount 9, up from last year 5 • Expanded sales teams with additional sales reps and sales associates • Clinical trainer hired in UK and NZ to support new and existing business Customer Account Ac
Slide 8: Investing in Clinical Trials
Investing in Clinical Trials U.S. Burns Pivotal Trial (BARDA) • Pivotal trial is a randomised controlled trial to assess NovoSorb BTM compared to FDA-cleared standard of care • Trial is underway with 23 subjects enrolled as of July ‘22 out of a planned 120, across 30 sites (25 in U.S. and 5 in Canad
Slide 9: Advanced Wound Care – Increasing Indications & Geography
Advanced Wound Care – Increasing Indications & Geography • Bilayer biodegradable synthetic matrix used • MTX is a synthetic dermal substitute • SynPath is designed to promote organised when the dermis has been lost or removed. comprised of NovoSorb foam providing a healing by providing a porous netw
Slide 10: Platforms Under Development
Platforms Under Development Implantable NovoSorb based Devices: Therapeutics: NovoSorb Dermal NovoSorb Drug Tissue Reinforcement Beta Cell Implant: Elution Depot (pellet) • Expanded approach to hernia • PolyNovo previously • PolyNovo will supply Beta- announced that it has taken • PolyNovo produced
Slide 11: FY22 Financial Results Review
FY22 Financial Results Review 11
Slide 12: FY22 Financial Results Review
FY22 Financial Results Review Total Revenue ($m) Group Highlights 0.5 3.8 • Total revenue $41.9m up 42.8% on last year 0.2 0.1 3.7 3.1 • Total BTM product sales up 47.6% on last year 1.0 37.6 4.0 25.5 19.1 9.3 Market Highlights FY19 FY20 FY21 FY22 • US BTM product sales +55.1% Product Sales BARDA Co
Slide 13: FY22 Financial Results Review
FY22 Financial Results Review Revenue, Opex, NPAT (excl. non-cash items) Operating Expenses (excl. non-cash items) ($m) 41.9 41.5 • Operating Expenses +52% • Continued investment in accelerating growth 29.3 • Increase headcount by 43% from 106 to 152 27.3 • Business expansion in the U.S., EU and Aus
Slide 14: FY22 Financial Results Review
FY22 Financial Results Review Net cash flow from operations ($m) Capex ($m) Cash on hand ($m) 11.6 FY19 FY19 FY20 FY21 FY22 FY19 FY20 FY21 (0.3) FY22 (0.5) (0.4) 7.7 (3.6) 6.1 (2.1) (6.5) (3.4) (8.9) 30-Jun-20 30-Jun-21 30-Jun-22 Highlights Asset Sale • Cash outflow from operations of -$2.1m • Sold
Slide 15: FY22 Financial Results Review
FY22 Financial Results Review ($m) FY22 FY21 Change % REVENUE P&L Highlights Product Sales - BTM 37.6 25.5 47.6% BARDA 3.8 3.7 4.0% Other Income 0.5 0.2 148.5% • Product sales +47.6% TOTAL REVENUE 41.9 29.3 42.8% • Total Revenue (incl. BARDA) +42.8% Changes in inventories & WIP (2.2) (1.6) 41.6% Ope
Slide 16: Accelerating Global Impact
Accelerating Global Impact Accelerating Adoption, Prudent Geography Expansion: • Doubling down on US, ANZ – expanding beyond Burns • Investing in Clinical & Health Economic packages vs. Standard of Care • Expanding our KOL network, Selling infrastructure • Accessing select Emerging markets & Develop
Slide 17: Slide 17