Dri Healthcare Trust · TSX:DHT.U
Dri Healthcare Trust — Q4 2024 Earnings Presentation
17 slides from Dri Healthcare Trust's earnings presentation, Mar 4, 2025
Slide 1: Advancing Science in the Pharmaceutical and Biotechnology Sector
Advancing Science in the Pharmaceutical and Biotechnology Sector Q4 and FY 2024 Earnings Call | March 4, 2025 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by DRI Healthcare Trust (the “Trust”). The Trust is an unincorporated open-ended trust governed by the laws of the Province of Ontario, Canada and is externally managed by DRI Capital Inc. (“DRI Healthcare”). The Trust completed an initial public offeri
Slide 3: Gary Collins, Chairman & Chief Executive Officer
Gary Collins Chairman & Chief Executive Officer 3
Slide 4: Agenda
Agenda Gary Collins Chairman & CEO 2024 Highlights Navin Jacob CIO, DRI Healthcare Portfolio Update All Q&A Amit Kapur CFO Financial Update Ali Hedayat Acting CEO, DRI Healthcare Guidance and Strategy Update 4
Slide 5: 2024 Highlights
2024 Highlights Focus on deal execution, unitholder returns and building alignment Accretive Governance Increased Unitholder Transactions Enhancements Capacity Value Over $290 million deployed Internally improved processes Significant capital for growth Distributions and unit buybacks • Up to $457 m
Slide 6: 2024 Financial highlights
2024 Financial highlights Normalized Total Cash Receipts1 Total Income Adjusted EBITDA1 $190.0 million $187.5 million $156.6 million 45% over 2023 13% over 2023 37% over 2023 Adjusted EBITDA Margin1 Adjusted Cash Earnings per Unit1 Declared Cash Distributions per Unit 82% $2.18 $0.340 1. Normalized
Slide 7: Navin Jacob
Navin Jacob Executive Vice President, Investments & Chief Investment Officer, DRI Healthcare 7
Slide 8: Focused on closing accretive transactions
Focused on closing accretive transactions Completed four transactions in 2024 totaling up to $457 million, with $290 million deployed to date1 INVESTMENT THESIS TRANSACTION SIZE Uncapped transaction on established product providing cash $115 million accretion + up to $55 million in potential milesto
Slide 9: Portfolio performance
Portfolio performance Portfolio assets show continued growth ($ millions) Q4 2024 Q4 2023 % Change1 2024 2023 % Change1 TOTAL CASH ROYALTY $44.6 $52.3 (15)% $190.0 $127.9 49% RECEIPTS2 2.0 1.4 37 6.3 1.9 234 1.7 1.8 (2) 6.8 7.6 (10) - 0.9 (100) - 2.4 (100) 0.4 0.6 (39) 2.1 2.4 (14) 8.3 3.3 156 37.7
Slide 10: Address important unmet needs with life-changing therapies for patients
Address important unmet needs with life-changing therapies for patients Robust pipeline of over $3 billion Marketed by leading biotech or biopharma companies in potential opportunities1 Provides strong intellectual property and regulatory protection 1. As of March 4, 2025. Represents the aggregate v
Slide 11: Amit Kapur
Amit Kapur Chief Financial Officer 11
Slide 12: Strong cash generation
Strong cash generation Cash available to drive portfolio growth and maintain distributions to unitholders Adjusted EBITDA for the Last Twelve Months Ended December 31, 2024 ($M)1 Adjusted EBITDA Margin1 82% $184.7 $0.5 $187.5 $3.0 ($0.5) $190.0 ($15.8) $2.3 ($13.3) ($4.3) $156.6 Adjusted Cash Earnin
Slide 13: Well capitalized for growth
Well capitalized for growth Significant capacity for Cash and cash equivalents Royalties receivable Credit facility availability further $36.5 $62.4 $302.9 growth million1 million1 million1 1. As at December 31, 2024. 13
Slide 14: 2024 Guidance Lookback
2024 Guidance Lookback Announced on After Feb 28, 2024 Feb 2024 $1.4 $185.2 $18.2 2024 royalty $165.6 20.3% income guidance 7.5% 2024 royalty income guidance range $153-155 million Excluding milestone income and any new transactions Recurring income One-time income Income from Total royalty 3 from r
Slide 15: Ali Hedayat
Ali Hedayat Acting Chief Executive Officer DRI Healthcare 15
Slide 16: Updated guidance
Updated guidance Focus on sustainable strategic growth 2024 GUIDANCE 2025 GUIDANCE Capital deployment target More than $1.25 billion over 5 years More than $1.25 billion over 5 years from IPO1 from IPO1 Income from royalty assets $153 – 155 million2 $172 – 182 million2 Sustainable cash generation Mi
Slide 17: Key priorities
Rebuild trust with a focus on strong governance and tone from the top Key Invest in our people and build the priorities industry leading royalty investment team Execute on strong pipeline and operate at peak performance Focus on long-term, sustainable growth generating strong unitholder returns 17