Slide 1: Transforming Early Cardiac Diagnostics: Acarix Q1 2025
Transforming Early Cardiac Diagnostics Acarix Q1 2025 Aamir Mahmood President & CEO 05/12/25
Slide 2: The CADScor System
The CADScor®System Transforming Early Cardiac Diagnostics with Rapid Assessment A rapid, point of care diagnostic aid that uses highly sensitive acoustics and advanced computational processing to calculate a patient specific CAD risk score Quickly and easily risk-stratify significant coronary artery
Slide 3: Executive Summary, Q1 Highlights, Q1 Financials
Executive Q1 Q1 Summary Highlights Financials 3
Slide 4: Executive Summary
Tq eel Executive Summary
Slide 5: Continuous Expansion and Progress in Q1
Continuous Expansion and Progress in Q1 Growth in Sales ● U.S. sales of CADScor Systems and patches showed notable growth compared to Q1 last year. ● Delivered 19 CADScor Systems in the U.S., representing a 46% increase. ● Experienced a 25% growth in patches sold, indicating robust adoption rates. ●
Slide 6: CEO Message: Aamir Mahmood
As we conclude the first quarter of 2025, I want to highlight Acarix's achievements, particularly our partnership with Geo-Med to deliver our CADScor System to veterans, enhancing access to advanced diagnostics. Additionally, we received the 2025 Digital Innovation Award at the Global Cardiovascular
Slide 7: Q1 Highlights
Q1 Highlights Tq eel
Slide 8: 2025 Digital Innovation Winner by Global Cardiovascular Awards
2025 Digital Innovation Winner by Global Cardiovascular Awards ● In March 2025, Acarix was honored with the 2025 Digital Innovation Award at the Global Cardiovascular Awards in London for the CADScor System. ● The Global Cardiovascular Awards are judged by a distinguished panel of international expe
Slide 9: Exciting Developments and Updates on Geo-Med Partnership
Exciting Developments and Updates on Geo-Med Partnership ● In February 2025, the partnership contract was signed and the execution of ISR Training / Onboarding took place. ● Field Sales Training and Onboarding took place in March 2025, equipping the sales team with essential knowledge and tools. ● A
Slide 10: 0716T Private Clinic Reimbursement
0716T Private Clinic Reimbursement Removed 0716T off Removed 0716T off Federal, GA, LA, IL, AZ non-covered list non-covered list Avg payment Avg payment Avg payment Average $230 $302 $339 Reimbursement $387 Federal Avg payment Avg payment Avg payment $403 $750 $300 Reimbursements listed in USD based
Slide 11: Accelerating Market Access and Reimbursement
Accelerating Market Access and Reimbursement ● Throughout Q1, we continued conversations with a major insurance payor with the goal to gain favorable reimbursement from the payor. ● With the recent addition of a Head of Reimbursement & Market Access to the Acarix team, we have created the evidence d
Slide 12: U.S. Performance Trial
U.S. Performance Trial ● Overview: Formalized an agreement to support an investigator-initiated clinical study with the largest health system in Oklahoma City. ● Objective: To demonstrate that the sensitivity of the CADScor System in low to intermediate-risk U.S. patients referred for coronary CT an
Slide 13: Enhanced Cost Management and Operational Streamlining
Enhanced Cost Management and Operational Streamlining ● Total reported loss for the first quarter amounted to SEK -14,108 thousand, reflecting an improvement from the SEK -14,930 thousand loss in the same period last year. ● The continuous implementation of cost optimization strategies has begun to yi
Slide 14: LinkedIn - Quarterly Overview
LinkedIn - Quarterly Overview Channel KPIs Channel Impressions Trend *% change from previous quarter 247 48,111 1,930 99 20 New Followers Impressions Reactions Comments Reposts 59.4% 69.6% 102.9% 371.4% 33.3% Channel Insights ● Engagement rate strong at 4.26%, ● Combination of increased above indust
Slide 15: X - Quarterly Overview
X - Quarterly Overview Channel KPIs *% change from previous quarter Channel Impressions Trend 11 11,375 1,421 12.4% 98 New Followers Impressions Engagements Engagement Rate Profile Visits 59.4% 62% 106% 27% 164% Channel Insights ● Engagement rate strong at 12.4%, well above industry (medical devices
Slide 16: Q1 Financials
Tq eel Q1 Financials
Slide 17: Q1 2025 Financial Highlights
Q1 2025 Financial Highlights U.S. CADScor U.S. Systems U.S. Patch Patch Delivered Sales Revenue 46% 104% 30% YoY Quarterly YoY Quarterly YoY Quarterly I’m excited about our growth in the U.S. market…This growth demonstrates our successful response to the rising demand for our cutting-edge solutions.
Slide 18: Q1 Profit/Loss Statement
Q1 Profit/Loss Statement ● Sales Performance: This quarter, sales reached SEK 1,729 thousand, an increase from SEK 1,552 thousand in the same period last year, with a total of 20 systems delivered (6 on consignment and 14 sold), compared to 13 systems delivered last year (11 consigned and 2 sold). No
Slide 19: Q1 U.S. CADScor Units Installed
Q1 U.S. CADScor Units Installed U.S. CADScor Units 19 +46% 13 Q1 2024 Q1 2025 ● In the U.S., 19 CADScor Systems were installed, showcasing a 46% increase compared to the same period last year. 19
Slide 20: Q1 U.S. Patch Sales
Q1 U.S. Patch Sales U.S. Patch Sales (units) 2,210 +104% 1,040 Q4 2023 Q4 2024 ● In the U.S., patch sales surged from 1,040 to 2,210 patches, marking a 104% growth compared to the same quarter in 2024. 20
Slide 21: U.S. CADScor Systems: Doubling Accumulating Patch Usage
U.S. CADScor Systems: Doubling Accumulating Patch Usage U.S. CADScor System Installations U.S. Acoustic Patch Sales ● In Q1, our leading customer used an average of 5.25 patches per day for patient assessments. ● The consistent growth in CADScor System installations and patch sales reflects increased
Slide 22: Continued Growth Across Multiple Specialties
Continued Growth Across Multiple Specialties U.S. CADScor System Installations* ● Cardiology and concierge medicine are consistently expanding. ● Acute focus on increasing usage in primary care and ER/urgent care. *Numbers are accumulated 22
Slide 23: Q1 U.S. Revenue of Patches
Q1 U.S. Revenue of Patches Sales kSEK 1,026 +30% 789 Q1 2024 Q1 2025 ● The new usage-based business model has been implemented in the U.S. market, allowing customers to access the CADScor System on a consignment basis. ● Revenue from patches sold in the U.S. amounted to SEK 1,026 thousand, a 30% inc
Slide 24: Q1 Gross Profit
Q1 Gross Profit Gross Profit kSEK 1,413 1,405 -1% Q1 2024 Q1 2025 ● Gross profit was SEK 1,405 thousand, slightly down from SEK 1,413 thousand previously. This decline from the same period in 2024 was attributed to sales of CADScor Systems with a lower margin. 24
Slide 25: Q1 Global Patch Gross Margin
Q1 Global Patch Gross Margin Gross Margin 93% 93% Q1 2024 Q1 2025 ● The global patch gross margin remains unchanged from the same period in 2024, indicating our consistency. 25
Slide 26: Q1 Global Gross Margin
Q1 Global Gross Margin Gross Margin 91% 81% -10 point Q1 2024 Q1 2025 ● This decline of 10 percentage points from the same period in 2024 was attributed to a one-time, strategically priced order for a key customer aimed at driving future high patch utilization. 26
Slide 27: Continued Cost Saving Initiatives
Continued Cost Saving Initiatives OPEX Reduction kSEK 16,340 -15,437 -6% Q1 2024 Q1 2025 ● Operating expenses amounted to SEK -15,437 thousand marking a 6% reduction compared to the corresponding period in 2024. These reductions highlight the company’s ongoing cost-saving measures and improvements i
Slide 28: Q1 Net Loss
Q1 Net Loss Net Loss kSEK -14,930 -14,108 -6% Q1 2024 Q1 2025 ● The net loss for the period was SEK -14,108 thousand, reflecting an improvement of SEK 822 thousand (6%) compared to the same period last year. 28
Slide 29: Monthly Burn Rate
Monthly Burn Rate Monthly Burn Rate kSEK 6,145 4,490 -27% Q1 2024* Q1 2025 ● Q1 2025 monthly burn rate was down 27% vs Q1 2024. 29
Slide 30: Key Go-Forward Objectives
Key Go-Forward Objectives ● The GEO-MED partnership presents an exciting opportunity, and while immediate sales may not occur, we remain confident about achieving sales within the next 3 to 6 months. ● Clinical Trials: ○ UC Davis is on track to reach full enrollment by Q3 2025, based on current volum
Slide 31: CADScor test has changed our clinical pathway for the better
“The [CADScor®] test has changed our clinical pathway for the better. We are saving resources and healthcare dollars by sending fewer patients—only the appropriate patients—through a complete coronary workup and are pursuing alternative pathways for those with chest pain not related to cardiac issue
Slide 32: Thank You!
Transforming Early Cardiac Diagnostics Thank You! 32