Alcidion Group Limited · ASX:ALC
Alcidion — H1 FY2023 Earnings Presentation
28 slides from Alcidion's earnings presentation, Feb 24, 2023
Slide 1: Investor presentation H1 FY23 Results
Investor presentation H1 FY23 Results 24 February 2023 1
Slide 2: Alcidion – a snapshot
Alcidion – a snapshot Alcidion Operates in 2 Geographies • Alcidion‘s purpose is to transform healthcare with (% H1 FY23 Revenue) smart, intuitive technology solutions that improve the efficiency and quality of patient care in healthcare organisations, worldwide ANZ UK • Focus on providing tools to
Slide 3: H1’23 Highlights
H1’23 Highlights Commercial in Confidence
Slide 4: H1’23 - Financials
H1’23 - Financials Continuing to deliver strong growth profile leading to record sold revenue heading into H2 FY23 Revenue $19.0M 48% 1 Recurring Revenue $13.9M 58% Gross Margin 86.1% 1.3pts Sold Revenue For FY23 $32.9M 21% ($5.0M) Improvement of Operating Underlying EBITDA (Loss)2 ($1.1M) $2.1M Cas
Slide 5: Operational Highlights
Operational Highlights Continuing to execute key contracts and deployment which underpin our future growth profile • H1’23 new sales with TCV of $18.6M, with $5.5M expected to be recognised in FY23 • UHS NHS Trust (UK): Initial $2.8M TCV, 3-year contract to implement Miya Precision (4 modules) as fo
Slide 6: Strategy and Outlook
Strategy and Outlook Alcidion’s strategy is being progressively validated with the outlook very positive • Modular approach to implementing Miya Precision platform continuing to resonate with customers (i.e. Miya Flow) – Highlighted by additional module wins with Dartford & Gravesham, Leidos, Derby
Slide 7: H1’23 Financials
H1’23 Financials Commercial in Confidence
Slide 8: Profit & Loss
Profit & Loss Profit & loss ($000) H1'23 H1'22 % change Key Comments Recurring revenue 13,856 8,765 58% Non-recurring revenue 5,128 4,096 25% • H1’23 new TCV sales of $18.6M; $5.5M to be recognised in FY23 Total revenue 18,984 12,861 48% • Revenue in H1’23 of $19.0M, 48% increase on H1’22 ($12.9M) D
Slide 9: Revenue Dashboard
Revenue Dashboard Half-on- half revenue Geographical 46% $19.0M Split (1H’23) Total 54% (UK / ANZ) UK ANZ Recurring / non- recurring revenue 9
Slide 10: Balance Sheet
Balance Sheet Balance sheet ($000) 31-Dec-22 30-Jun-22 Key Comments Cash & cash equivalents 11,868 17,339 Trade & other receivables 5,625 7,251 • $11.9M cash and no debt Other assets 2,380 1,672 Current assets 19,873 26,262 • $97.8M of intangible assets relates to the acquisitions of Silverlink Plan
Slide 11: Cash Flow
Cash Flow Cash flow ($000) H1'23 H1'22 Key Comments Receipts from customers 18,819 16,406 Payments to suppliers & employees (23,753) (18,256) Interest received 43 13 • Operating cash outflow in 1H’23 driven primary but minor timing Finance costs (64) (26) delays to receipts expected in December 2023
Slide 12: H1’23 Operations
H1’23 Operations Commercial in Confidence
Slide 13: Notable Contract Wins and Renewals
Notable Contract Wins and Renewals New contracts reinforce modular strategy, catering to needs of customers as they enhance their digital maturity • University Hospital Southampton: • University Hospitals Dorset NHS Trust: Initial 3-yr agreement to implement Miya Contract renewal agreement for use o
Slide 14: Successful Deployments
Successful Deployments Product Implementation and technical services has always been a strength of the Alcidion business • Alfred Hospital (Aus): Successful go live • Leidos Australia (ADF): Continued across three campus' start of 2023 using successful, staged delivery of the project to Miya Precisi
Slide 15: Market position and opportunity
Market position and opportunity Commercial in Confidence
Slide 16: Strategic Steps to create a global digital health company
Strategic Steps to create a global digital health company Date Milestone Initial Value Proposition Validation • Developed Miya Precision, a health informatics platform ✓ Recognised as a tech ‘leader’ in healthcare with cloud 2000 Alcidion • Focused on clinical decision support, patient flow and nati
Slide 17: Miya Precision: modern, modular EPR platform for clinicians
Miya Precision: modern, modular EPR platform for clinicians Leveraging a combination of ‘in-house’ development and strategic acquisitions Alcidion has built Miya Precision, a cloud-native modern, modular, open architecture, EPR platform taking on the major global incumbents • Miya Precision is as an
Slide 18: Our ‘Big Picture’ Modular Strategy
Our ‘Big Picture’ Modular Strategy* Multiple sales strategies within an ICS1 via ability to leverage Miya Precision’s modular capability • Several Trusts within an ICS may procure Miya with progressive modular upsell • Over time, ability to sell into ICS layer and be core provider across most of ICS
Slide 19: Case Study: Modular strategy at a customer level
Case Study: Modular strategy at a customer level Example progression a Trust may take to progressively implement full suite of Miya Precision modules Phase 1 – Platform + Initial Modules Phase 2 – Add-on Modules Phase 3 – Add-on Modules Miya Precision Miya Precision Miya Precision • Alcidion’s has a
Slide 20: UK NHS – Frontline digitisation strategy
UK NHS – Frontline digitisation strategy Targeting for all Trusts to meet the minimum digital foundation (procured) by December 2025 • Trusts have been assessed on their current digital maturity and • Targeting 93% of Trusts to have an EPR have been placed into groups depending on that assessment im
Slide 21: Outlook
Outlook Commercial in Confidence
Slide 22: Continuing to build upon a strong H1’23
Continuing to build upon a strong H1’23 Key Comments • At end of H1’23, $32.9M of contracted revenue to be recognised in FY23, up 21% on pcp • Further $1.1M of scheduled renewal, expected to be converted to contracted revenue over FY23 • Pressure on the UK healthcare system, along with economic head
Slide 23: Appendix
Appendix Commercial in Confidence
Slide 24: Market outlook
Market outlook Hospitals are increasingly seeking seamless, digital solutions to manage clinical workflow Transition to digital Increasing industry Increasing demand Increasing market support & funding for seamless clinical interest & activity solutions Shift towards digital within Increasing suppor
Slide 25: Alcidion positioning
Alcidion positioning Cloud native, modern modular platform Long-term contracts with embedded Market tailwinds and increased improving hospital efficiencies and technology driving recurring spending driving potential clinical decision-making revenues opportunistic M&A / consolidation 0 Increasing sca
Slide 26: Value proposition to customers
Value proposition to customers Incumbents Cloud native • Primarily on premise or data centre deployments ✓ Full cloud-first EPR solution • Progressively developing cloud ability albeit unproven and ✓ Reduces capital costs and increases efficiency limited to certain functionality Modular • Large scal
Slide 27: Disclaimer
Disclaimer The information contained in this document (“Document”) has been prepared by Alcidion Group Limited ACN 143 142 410 (referred to as “Alcidion” or “Company”). This Document is current as at the date of this Document and should be read in conjunction with other Alcidion periodic and continu
Slide 28: Slide 28