Pacific Edge Limited · NZX:PEB
Pacific Edge — H1 2022 Earnings Presentation
14 slides from Pacific Edge's earnings presentation, Nov 25, 2021
Slide 1: 1H22 Interim Results Presentation
1H22 INTERIM RESULTS PRESENTATION FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2021 25 November 2021
Slide 2: Disclaimer
DISCLAIMER Important Notice Financial data This presentation has been prepared by Pacific Edge Limited (PEL) solely to provide interested parties with All dollar values are in New Zealand dollars unless otherwise stated. further information about PEL and its activities at the date of this presentati
Slide 3: 1H22 Key Events
1H22 KEY EVENTS PLATFORM FOR • Dual listing on the ASX in September 2021 GROWTH • Successful $103.5 million capital raise • Addition of new reputable global funds to the register US COMMERCIAL • Expansion of sales team by 75%; staffing of two new sales territories; increase in OPERATIONS support rol
Slide 4: Positive Momentum Despite Continuing Impact of COVID-19
POSITIVE MOMENTUM DESPITE CONTINUING IMPACT OF COVID-19 PACIFIC EDGE CONTINUES TO ADAPT AND GROW IN THE CHALLENGING CONDITIONS: • Resurgence of restrictions due to spread of • Virtual sales meetings and adaptation of sales Delta variant in the US and New Zealand and marketing plans • Sporadic access
Slide 5: 1H22 Commercial Progress
1H22 COMMERCIAL PROGRESS REIMBURSEMENT • Positive step change compared to 1H21 reflects increasing adoption and reimbursement from CMS from 1 July 2020 US REMAINS PRIMARY • US increasing as a percentage of test use and revenue. Expected to MARKET grow further as US operations and sales team are scal
Slide 6: 1H22 Financial Snapshot
1H22 FINANCIAL SNAPSHOT POSITIVE MOMENTUM DESPITE COVID RESTRICTIONS NZ$m 1H22 1H21 % change Total Revenue 6.7 4.1 +66% Operating Revenue (test sales) 5.4 3.3 +62% Operating Expenses 15.7 11.2 +41% Net Loss After Tax 9.0 7.1 +27% Cash Receipts from Customers 5.4 2.6 +110% Net Operating Cash Outflow
Slide 7: Strong Year on Year Growth in Test Throughput and Sales
STRONG YEAR ON YEAR GROWTH IN TEST THROUGHPUT AND SALES TOTAL LABORATORY COMMERCIAL TESTS THROUGHPUT (TLT) 62% growth on 1H21 64% growth on 1H21 12,000 10,000 11,136 9,192 10,000 8,950 8,000 7,385 8,000 6,864 6,000 5,591 NZ$’000 NZ$’000 6,000 4,000 4,000 2,000 2,000 0 0 1H21 2H21 1H22 1H21 2H21 1H22
Slide 8: Total Laboratory Throughput by Region and Test Type
TOTAL LABORATORY THROUGHPUT BY REGION AND TEST TYPE US continues to grow in importance, up to 81% of Growth in TLT for Cxbladder Detect, led by growth in TLT and commercial tests US test volumes (which are weighted towards Detect) ROW 1H22: 19% Monitor Triage 1H21: 28% 1H22: 25% 1H22: 19% 1H21: 24%
Slide 9: Step Change in Revenue Growth and Cash Receipts
STEP CHANGE IN REVENUE GROWTH AND CASH RECEIPTS DRIVEN BY LCD INCLUSION, AND INCREASING REIMBURSEMENT AND ADOPTION OPERATING REVENUE CASH RECEIPTS 62% increase on 1H21 110% increase on 1H21 6.0 6.0 5.4 5.4 5.0 5.0 NZD Millions NZD Millions 4.0 4.0 3.3 3.0 3.0 2.6 2.3 2.4 2.0 2.0 2.0 2.0 1.7 1.4 1.0
Slide 10: Operating Expenses
OPERATING EXPENSES INCREASE IN OPERATING EXPENSES DRIVEN BY INVESTMENT IN GROWTH AND ESCALATING TEST VOLUMES PROCESSED THROUGH THE LABORATORIES (NZ$000) HY22 HY21 % Change • Laboratory expenses driven by volume growth Laboratory Operations 3,076 2,540 21% • Research: Progress of clinical studies and
Slide 11: USA Remains Our Primary Market
USA REMAINS OUR PRIMARY MARKET MOMENTUM IN US DESPITE COVID IMPACT USA 81% of TLT 81% of Commercial Tests 93% of Operating Revenue Scaled up U.S. commercial South East Asia operations provide capacity Rest of World and resource to 19% of TLT drive revenue Australia growth 19% of Commercial Tests 7%
Slide 12: Positive Growth Outlook
POSITIVE GROWTH OUTLOOK • Well positioned to capitalise on recent commercial milestones and US GROWTH DRIVERS as Covid-19 restrictions ease • US remains primary focus • Strong growth in revenue and cash • Recent clinical evidence supports adoption of multiple products and receipts expected from CMS
Slide 13: Enquiries to David Darling, CEO
Enquiries to David Darling P +64 3 479 5802 www.pacificedgedx.com M +64 21 797 981 www.cxbladder.com CEO Pacific Edge Limited E david.darling@pelnz.com 13
Slide 14: Glossary
GLOSSARY • Commercial Tests are those tests for which the Company is actively seeking reimbursement and cash receipts, and tests performed at no charge in order to gain new customers. • Total laboratory throughput (TLT) includes commercial tests and non-commercial tests related to customer’s start-u