Slide 1: Welcome to the 4Q23 webinar
Welcome to the 4Q23 webinar February 23, 2024
Slide 2: Speaking at today’s webinar
Speaking at today’s webinar 2
Slide 3: This is Modulight
This is Modulight We fight cancer with science and technology ▪ We are a biomedical company ▪ We also manufacture products that designs and manufactures for other high-value applications laser devices for the treatment such as flow cytometry, quantum of cancer and eye diseases and computing and digi
Slide 4: Today’s agenda
Today’s agenda ▪ 2023 in brief ▪ R&D pipeline ▪ Our technology ▪ Geographical expansion ▪ Financial highlights ▪ Customer base and events ▪ Revenue model ▪ Outlook ▪ Summary ▪ Q&A 4
Slide 5: 2023 in brief
2023 in brief ▪ R&D pipeline grew to 28 (27) projects ▪ Several customer projects reached Phase 3 ▪ Geographical expansion in the United States progressed ▪ Good start in Europe and Asia in developing commercial network for wider use of the technology with several distributor partners A few of our ▪
Slide 6: Solid R&D pipeline
Solid R&D pipeline Number of projects with commercialization potential ▪ Several projects reached Phase 3 with a large 30 population 25 ▪ 28 projects (+1 vs. 3Q23) ▪ Revenue potential from 20 several projects in the 15 pipeline estimated to be significant 10 ▪ Good progress with new customers in den
Slide 7: Unique technology
Unique technology ▪ Projects with experts in the field show confidence in our unique technology ▪ Example: a customer who has used our technology since 2014 ▪ Project has now progressed to Phase 3 clinical trials with a large population ▪ P3 is purely based on our technology ▪ The customer has since
Slide 8: Geographical expansion
Geographical expansion ▪ US: expanded operations • Product Support Center on the East Coast • Sales director in Silicon Valley • Number of new medical equipment installations ▪ Europe and Asia: several distributor partners • Several business cases with all three different distribution partners in Eu
Slide 9: Financial highlights October–December 2023
▪ Revenue -20% YoY due to Financial highlights October–December 2023 project delays and PPT model implementation ▪ Total costs increased due to investments in developing operations ▪ Increased number of Revenue EBITDA EBIT personnel ▪ New production equipment EUR ▪ Total materials and external EUR E
Slide 10: Financial highlights January–December 2023
Financial highlights January–December 2023 ▪ Revenue -12% YoY due to delays in projects in commercialization phase Revenue EBITDA EBIT ▪ Costs increased due to investments in developing operations ▪ Increased number of EUR EUR EUR personnel 4,025 -8,539 -12,132 ▪ New production equipment thousand th
Slide 11: Key figures
Key figures Group EUR 1,000 unless otherwise noted 10–12/2023 10–12/2022 7–12/2023 7–12/2022 1–12/2023 1–12/2022 1) Revenue 1,019 1,268 1,425 2,499 4,025 4,599 EBITDA -2,992 -2,000 -5,529 -3,342 -8,539 -5,936 EBITDA - % -293.6% -157.7% -388.0% -133.7% -212.1% -129.1% Operating result (EBIT) -5,060 -
Slide 12: Modulight’s customer base
Modulight’s customer base Customer ownership 30 ▪ 7% are research companies 25 ▪ 25% are privately owned 20 ▪ 68% of customers are listed companies 15 ▪ 61% are established 10 companies ▪ 36% have over 1bn 5 revenue, +2 projects vs. 3Q23 0 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 Hospitals
Slide 13: Revenue model
Revenue model The objective is revenue, based on the Customized R&D projects based on the Best Efforts share of pharmaceutical or Pay Per principle, without revenue risk for Modulight Treatment fees, or the utilization rate of industrial applications. Predictability of Modulight’s revenue is improvi
Slide 14: Pay Per Treatment business model update
Pay Per Treatment business model update ▪ Our objective is to offer the Pay Per Treatment (PPT) business model to almost all new customers We believe that the ▪ Customers start to see benefits faster as importance of the PPT high-profile reference users are established business model for our operati
Slide 15: US healthcare market economics
US healthcare market economics ▪ To support the implementation of pay-per-treatment business models, we have studied & analysed the costs related to current standard of care in the US with KPMG for 11 indications in oncology and ophthalmology For cancer diseases, weighted average for standard of car
Slide 16: Outlook
Outlook Modulight has not issued guidance for revenue or profitability in 2024. 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 2024. However
Slide 17: Summary
Summary ▪ R&D pipeline grew to 28 projects, progress with new customers in dental, retina imaging & microscopy – most importantly several projects in pipeline progressed to phase 3 & pilot production. ▪ Geographic expansion progressing in US, Europe and Asia ▪ Cloud technology & cloud-based service
Slide 18: Thank you! Questions?
Thank you! Questions? modulight
Slide 19: Thank you
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