Slide 1: Modulight
modulight
Slide 2: Today's agenda
Today’s agenda • Updated strategy and FDA approval • Q4 and full year 2022 highlights Update picture • Project pipeline development • Progress with investments • Q&A Baylor College of Medicine, Austin, TX (Dec-22) 2
Slide 3: Updated strategy and FDA approval
Updated strategy and FDA approval • Updated strategy with additional focus on the U.S. market and go-to-market strategy • R&D Pipeline grew to 27 projects with major pharmas • Significant progress in the R&D project pipeline and opportunities to accelerate the pay per treatment cloud strategy in the
Slide 4: FDA PMA approval for the ML6710i
FDA PMA approval for the ML6710i • January 23, 2023: Modulight received an approval from the U.S. Food and Drug Administration FDA for its ML6710i laser device for the treatment of wet age- related macular degeneration (AMD) in the United States • Cooperation with a prominent NYSE-listed pharmaceuti
Slide 5: Financial highlights October–December 2022
Financial highlights October–December 2022 • Revenue -47% yoy mainly Revenue EBITDA EBIT due to delays in customers’ research projects and Modulight’s EUR EUR EUR long sales cycles 1,268 -2,000 -2,501 • Lower profitability due to lower revenue & decision thousand to accelerate strategy thousand thou
Slide 6: Financial highlights year 2022
Financial highlights year 2022 • Revenue -49% yoy mainly Revenue EBITDA EBIT due mainly due to pandemic restrictions and component availability + EUR EUR EUR generic macroeconomic uncertainty 4,599 -5,936 -7,792 • Lower profitability due to thousand lower revenue & decision thousand thousand to acce
Slide 7: Key figures
Key figures Group EUR 1,000 unless otherwise noted 10–12/2022 10–12/2021 7–12/2022 7–12/2021 1–12/2022 1–12/20211) Revenue 1,268 2,374 2,499 4,511 4,599 9,071 EBITDA -2,000 -3,715 -3,342 -2,690 -5,936 461 EBITDA - % -157.7% -156.5% -133.7% -59.6% -129.1% 5.1% Operating result (EBIT) -2,501 -4,067 -4
Slide 8: Solid R&D Pipeline
Solid R&D Pipeline Number of projects • 27 projects (+1 from 3Q22) with commercialization potential • Continued new business 30 models e.g. Pay Per Treatment implementation 25 • One new project with existing 20 blue chip pharma customer 15 • Several projects progressed well and expecting 10 signific
Slide 9: Revenue model
Revenue model The objective is revenue, based on the Customized R&D projects based on the Best Efforts principle, share of pharmaceutical or treatment without revenue risk for Modulight fees, or the utilization rate of industrial applications. Predictability of Modulight’s revenue is improving Curre
Slide 10: Modulight's customer base
Modulight’s customer base Customer ownership 30 25 • 11% are research companies 20 • 30% are privately owned 15 • 59% of customers are listed 10 companies • 63% are established companies 5 • 30% have over 1bn revenue 0 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 Hospitals & Research Private company Listed company
Slide 11: R&D Pipeline progressing
R&D Pipeline progressing Customer: Major NYSE listed Customer: NYSE listed US New business models (“SaaS”): pharmaceutical company pharmaceutical company Utilizing cloud.modulight.com services Indication: Fluorescence imaging Indication: Ophthalmology Progress with multiple customers on deploying th
Slide 12: Investment program complete
Investment program complete Epitaxial wafer ❑ Investments starting to show operational benefits: ❖ Further differentiation ❖ Expanded offering ❖ Increased productivity ❖ Higher capacity ❑ Record number of CAPEX tool investments done in 4Q22 and seeing all of the above improvements based on 2022 expe
Slide 13: Strategy update
Strategy update Expanding the New business Commercial and State-of-the-art Geographical offering to new models operational laser technology expansion indications and excellence expertise applications • Local operations in • Productizing • Developing a pay • Sales, marketing • Technology the U.S. pla
Slide 14: Outlook
Outlook Modulight has not issued guidance for revenue or profitability. As the company’s customer projects are still distributed across varying early stages of development, and predicting developments in the market remains challenging, it is difficult to forecast performance in 2023. However, the co
Slide 15: Summary
Summary • Updated strategy with additional focus on the U.S. market and go-to-market strategy • Product development pipeline grew to 27 projects • Significant progress in the R&D project pipeline (including FDA PMA approval) and opportunities to accelerate the pay per treatment cloud strategy in the
Slide 16: Thank you!
Thank you! Questions? Learn moreand followus in Linkedin, twitter, Facebook, Youtubeand Instagram: modulight
Slide 17: Financial highlights July–December 2022
Financial highlights July–December 2022 • Revenue -45% yoy mainly Revenue EBITDA EBIT due to pandemic restrictions and component availability + EUR EUR EUR generic macroeconomic uncertainty 2,499 -3,342 -4,313 • Lower profitability due to thousand lower revenue thousand thousand • Costs increased du
Slide 18: A typical project
A typical project CASE EXAMPLE: Generic Modulight customer project flow Customer contacts Modulight 6 – 24 months 3 – 5 years 5 – 10 years Sales cycles Typical projects Project plans are often ambitious - New cancer GTM phase – vary – often start with early delays are common due to many therapies Mo
Slide 19: Updated strategy and financial targets 2023–2025
Updated strategy and financial targets 2023–2025 Targeting strong annual Continuing to focus on the Taking advantage of the growth and a return to company's unique laser state-of-the-art strong profitability technology expertise and technology production expanding its offering to new capacity indica
Slide 20: Strategy and targets
Strategy and targets STRATEGIC KEY Geographical Expansion to new New business Commercial and State-of-the-art FACTORS expansion indications and models operative laser technology applications excellence expertise Sales, marketing and operations development Cloud technology and cloud based service dev
Slide 21: Strategic programs
Strategic programs Sales, marketing and Cloud technology and cloud Productizing platform devices for operations development based service development various indications & applications Technology development based on Development of ESG, the completed investment program governance and reporting 21