Pro Medicus, Ltd. · ASX:PME
Pro Medicus — Shareholder Meeting (November 2020)
44 slides from Pro Medicus's shareholder meeting presentation, Nov 25, 2020
Slide 1: Chairman's Address AGM 2020
For personal use only Chairman’s Address AGM 2020
Slide 2: Chairman's Report: Overview
CHAIRMAN’S REPORT Overview The company has enjoyed another very successful year coinciding with the 20th anniversary as a publicly listed entity. Each of our businesses in our principal For personal use only markets (Australia, Europe and North America) contributed strongly to the result. The Compan
Slide 3: Financial Results
Financial Results FY2020 was another record year for the company with revenue increasing by 13.4% and net profit after tax increasing by 21% (2020 $23 million: 2019 $19 million). Importantly, underlying profit before tax increased by 33% to $30 million. For personal use only These results were achie
Slide 4: Closing remarks
Annual Report where we have set out some of the activities that the company is undertaking in the communities that we serve. Closing In closing, on your behalf, I would like to thank all of our dedicated staff in Australia, For personal use only North America and Europe for their contribution to the
Slide 5: CEO Address
For personal use only AGM 2020 CEO Address
Slide 6: Over 40 software engineers
For personal use only OVER 40+ SOFTWARE ENGINEERS
Slide 7: Product Suite
For personal use only VISAGE RIS VISAGE 7 OEM PRODUCT SUITE
Slide 8: FY 2020
FY 2020 For personal use only $56.8M $23.1M $30.3M 52.5% Underlyin Profit Underlyin EBIT g Revenue after tax g margins up 23.9% up 20.7% Profit Before Tax up 33.4% $43.4M $0.12 Cash Company Strong Full year Reserves debt balance dividend FF up 34.32% free sheet Up 14.3%
Slide 9: Revenue by region FY2016-FY2020
For personal use only $60,000,000 $50.00 $45.00 $50,000,000 $40.00 $35.00 $40,000,000 $30.00 $25.00 $30,000,000 $20.00 $20,000,000 $15.00 $10.00 $10,000,000 $5.00 $- $- FY2016 FY2017 FY2018 FY2019 FY2020 FY2016 FY2017 FY2018 FY2019 FY2020 North America Australia Europe (net of hardware)
Slide 10: Revenue by type FY2020
FY 2020 For personal use only Exam/licence revenue*** Support/baseline revenue*** Capital revenue (net of hardware) Professional Services*** $60,000,000 ***Recurring revenue $4,609,000 $50,000,000 $6,464,000 $16,857,000 $3,049,000 $40,000,000 $12,327,000 $4,151,000 $30,000,000 $2,429,000 $10,858,000
Slide 11: Operating Leverage
OPERATING LEVERAGE * No capex (HW) - SW only model ° Training & Installation - charged as professional services s ¢ Contained cost base ¢ Highly scalable offering ¥ g * High operating leverage ¢ Margin continues to grow as footprint increases te $$$ prosmedicus | % ‘UR SUPPORT. youn success VISAGE T
Slide 12: Margin Expansion
MARGIN EXPANSION EBIT Margins 40 30 20 10 0 FY-14 FY-15 FY-16 FY-17 FY-18 FY-19 FY-20 GE TMAGING
Slide 13: Year in Review
Year in Review For personal use only Continues to $9M/5 years $22M/5 $25M/7 years $10M/7 $8.5M/5 grow New Contract years New Contract years years STRONGLY New Contract New Contract Contract Renewal DECEMBER JUNE 2020 SEPTEMBER OCTOBER 2020 NOVEMBER PIPELINE 2019 2020 2020
Slide 14: Year to Date
Year to Date lower USD ¢ Client volumes back to normal despite COVID : * Growth to continue in 2" half S ¢ Existing clients - organic growth and new sites ¢ Tracking ahead of budget notwithstanding impact of « * 3 large contract wins to come online in 2nd half - Northwestern, NYU and LMU Klinikum ¢
Slide 15: COVID-19 - Operational
YY COVID-19 - Operational 74 ¢ PME/Visage transitioned to WFH in mid-March V__* Able to operate at 100% capacity «A ¢ Sales and marketing efforts continued throughout 4° “Thinness” of the technology enabled large scale remote demonstrations iS ¢ New opportunities despite COVID restrictions. VV - A %
Slide 16: COVID-19 - Impact
YY COVID-19 - Impact s Vv. A L S V { fc 4 A A. Vv. All elective imaging deferred late in March/early April Some regions affected more than others Worst affected - volumes declined by up to 75% 2" half April onwards - steady recovery in image volumes Most clients now at normal volumes - some >100% De
Slide 17: Visage RIS
@VISAGERIS TECHNOLOGIST DOCTOR TRANSCRIPTIONIST. SEARCH CLAIMING — SETUP. Recent|¥ Dr Simpson |v /+ ‘Appointments Northern Book ‘Visage General Hospital 4 Tue, 17-0cr201 MTP” @ Patient © Procedure [Cancelled Blocked Visage Xray ~ Visage US Room ~ Visage US Room 2 ~ ssn (Visage US Room3 + Visage Mamm
Slide 18: Visage RIS in Australia
VV y & y VISAGE RIS KY v Long term (5 year) contracts with Primary Healthcare and @ VISAGE RIS I-MED, the 2 biggest radiology providers in AUS smprchensive care. Uncompromising quality. Combined additional revenue of $4.4M pa once fully deployed ‘~ -MED Network HIS (Healius) rollout nearing completi
Slide 19: Speed, Functionality, Scalability
For personal use only SPEED FUNCTIONALITY SCALABILITY
Slide 20: Massive Data Explosion
MASSIVE DATA EXPLOSION ¢ High density Multi-slice CT - 10,000+ images ¢ HD Breast Tomosynthesis - 6 GB+ ¢ (Optoacoustic breast ultrasound - 10+ GB ¢ Total Body PET Scan - 10+ GB ¢ 7T MRI - much larger than 3T % VISAGE TMAGING’
Slide 21: Modalities, PACS, Radiologist/Clinician
For personal use only MODALITIE PAC RADIOLOGIST/CLINICI S S AN
Slide 22: Backend Server, Render Server architecture
For personal use only BACKEND RENDER SERVER SERVER RADIOLOGIST/CLINICI MODALITIE AN S
Slide 23: Nines
NINES ° 5 year - $6 Million platform deal ¢ Transaction based model - volumes to step up YoY ¢ SaaS offering based on Visage in the Cloud ° Nines team — highly respected in machine learning, Al, and radiology circles ¢ Leveraging the power of modern Al to clinical settings * Opens up new market segm
Slide 24: Northwestern
NORTHWESTERN ANY | Northwestern Medicine’ ¢ Minimum $22 Million over 5 years * Transaction-based licensing model with upside ¢ Voted in the top 10 Hospitals in North America ¢ Teaching hospital for the Feinberg School of Medicine * Adds to PME growing base of Tier-1 Healthcare institutions ¢ Impleme
Slide 25: For personal use only
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Slide 26: LMU Klinikum - Munich
LMU KLINKUM - Munich Luowic- MAXIMILIANS UNIVERSITAT MUNCHEN ¢ $10M- 7-year Deal ¢ One or Europe's largest teaching hospitals ¢ 2%¢ major hospital contract in Germany ¢ Visage 7 Viewer and Visage Open archive ¢ Breaks the mold of “one-stop-shop” modality vendor systems * Paves the way for further Eu
Slide 27: Zwanger Pesiri
ZWANGER PESIRI ZWANGER-PESIRI RADIOLOGY * $8.5M -5-year renewal contract ¢ One of the largest private outpatient groups in the US ¢ Increased minimum contract value by 70% ¢ Visage technology key enabler of practice growth ¢ Validates Visage’s unique value proposition prosmedicus | % ‘UR SUPPORT. YO
Slide 28: For personal use only
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Slide 29: Value proposition
For personal use only Significant IT & Unparalleled Greater Clinical Infrastructure Increase in Accuracy Savings Radiologist Efficiency Improved Physician Delivers Superior Engagement Value Proposition
Slide 30: Improved Physician Engagement
For personal use only Improved Physician Engaement
Slide 31: Growth drivers
For personal use only New product offerings Transaction Extend to new growth from geographical existing clients markets Leverage R&D Expand footprint capability to – new clients introduce next generation products
Slide 32: Prospects, Network Effect, Pipeline
For personal use only Prospects Network Effect Opportunities Pipeline Robust
Slide 33: New Products: Enterprise Imaging
VV NEW PRODUCTS ENTERPRISE IMAGING y VISAGE 7 Al ¢ One Viewer for ALL images * — Radiology/Cardiology (DICOM format) ¢ Non-radiology- reflected light - hi-res photos & videos v ¢ VISAGE ? technology ideally suited TN ° Increases Visage value proposition b ¢ Growth opportunities within existing contr
Slide 34: Open Archive
For personal use only • • • • • OPEN ARCHIVE
Slide 35: Visage 7 Workflow Manager
Visage ? Workflow Manager Adds to V? Viewer and Open Archive modules Based on over 30 years experience in Worklist SW Allows PME to offer single-vendor solution Integral part of Visage in the Cloud SaaS solution Ability to interface with broad range of Al algorithms prosmedicu cers VISAGE TMAGING'
Slide 36: For personal use only
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Slide 37: AI in Radiology
Alin Radiology ¢ |mbedded in SW or imaging equipment ¢ Prioritisation of cases - eg head trauma ¢ Screening - eg early-stage lung nodule detection * Aid to diagnosis - 2" opinion, incidental findings ¢ Automated diagnosis prosmedicus & ners ie, Visace TMAGING:
Slide 38: Visage AI platform
¢ Unique end to end solution ¢ Research and production environments ona single platform ¢ Based on market leading Visage 7 technology * Enables Visage clients to fast-track Al as part of their imaging strategy prosmedicu % VISAGE TMAGING'
Slide 39: Visage 7 Research Server and AI Ecosystem
Visage / ¢ Research Server - streamlines Al algorithm development ¢ Optimised for Al data curation and validation * Open API enables native integration ¢ Al Ecosystem - 3" party and Visage developed algorithms * Joint development/commercialisation opportunities - 3 parties and academic clients. pros
Slide 40: AI Accelerator
NX ACCELERATOR 1st diagnostic Al algorithm produced by Visage Developed in collaboration with renown breast imaging team at Yale Provides “on the fly” Al assessment of breast density Pending FDA approval A model for future collaboration with other academic institutions n= prosmedicu —= = * * % VISAG
Slide 41: NYU Langone - Joint R&D
NYU LANGONE - Joint R&D o~ NYU Langone Nie Health ¢ Multi Year research collaboration agreement ¢ NYU to be part of the Visage Al Accelerator program * Joint R&D to develop next generation imaging products ¢ Visage to have onsite access to NYU Langone radiologists and imaging scientists. ¢ Visage to
Slide 42: AI Research Leadership
Al Research Leadership re Malte Westerhoff Chief Technology Officer Detlev Stalling r Head of Development Ming De Lin Clinical Research Manager North America prosmedicu | ners ie, Visace TMAGING:
Slide 43: For personal use only
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Slide 44: Thank You
THANK YOU > i _ < pd Ajuo esn feuosiecd 105