Optomed Oyj Class A · OMXHEX:OPTOMED
Optomed Oyj Class A — Q3 2022 Earnings Presentation
16 slides from Optomed Oyj Class A's earnings presentation, Nov 3, 2022
Slide 1: Optomed Q3 2022
Optomed Q32022 Optomed Q3 2022 3rd 3rdNovember November 2022 2022 Seppo SeppoKopsala, Kopsala, CEO CEO Sakari SakariKnuutti, Knuutti,CFO CFO
Slide 2: Q3/2022 Highlights
Q3/2022 Highlights 1. 2. 3. Strong growth The markets in China The FDA clearance by the Devices remain slow and process is on-going Segment especially in Software segment the Western Markets focuses on R&D driving the group offering very little performance support to our topline growth
Slide 3: Q3/2022 Key Figures
Q3/2022 Key Figures DEVICES SEGMENT IS DRIVING THE TOPLINE GROWTH Q3/2022 Q3/2021 Change Revenue 3,700 3,342 10.7% Gross profit 1) 2,967 2,250 31.8% Gross margin 2) 80.2% 67.3% EBITDA 145 -337 143.1% EBITDA margin 3.9% -10.1% Net profit / loss -1,377 -833 -65.3% Earnings per share -0.10 -0.06 -56.2%
Slide 4: 1-9/2022 Key Figures
1-9/2022 Key Figures DUE TO WEAK 1-6/2022 IN CHINA, THE FULL YEAR TOPLINE IS STILL BEHIND LAST YEAR Q1-Q3/2022 Q1-Q3/2021 Change Revenue 10,648 11,299 -5.8% Gross profit 1) 7,305 8,151 -10.4% Gross margin 2) 68.6% 72.1% EBITDA -1,604 -475 -238.0% EBITDA margin -15.1% -4.2% Net profit / loss -4,075 -
Slide 5: Segment highlights
Segment highlights OPT@MED
Slide 6: Devices Segment Q3-2022
Devices Segment Q3-2022 WESTERN MARKETS WERE DRIVING THE GROWTH OF DEVICES Q3/2022 Q3/2021 Change China markets still down: 1. Optomed is currently assessing strategic rebuilding alternatives Revenue 1,697 1,167 45.4% Strong USD offered little support Gross profit 1,592 722 120.5% 2. on our topline
Slide 7: Software Segment Q3-2022
Software Segment Q3-2022 R&D WORK BURDENS THE REVENUE GROWTH OF SOFTWARE Q3/2022 Q3/2021 Change The Software Segment is 1. focusing on Avenue Flow and Aurora AEYE R&D Revenue 2,003 2,176 -7.9% Gross profit 1,374 1,528 -10.1% Otherwise steady quarter 2. from the segment Gross margin 68.6% 70.3% EBITD
Slide 8: Cash Flow
Cash Flow CASH FLOW REMAINED NEGATIVE Q3 2022 Q3 2021 Loss for the financial year -1,377 -833 • Cash flow from operating Cash flows before change activities amounted to in net working capital -565 -207 EUR -504 (-764) thousand Change in net working capital 116 -540 Cash flows before finance items -4
Slide 9: Outlook 2022
Outlook 2022 WE TOOK DOWN OUR OUTLOOK FOR THE YEAR 2022 DUE TO CONTINUING HEADWIND IN CHINA The updated outlook for 2022 (announced 27 October 2022): Supporting our Burdening our performance performance “Optomed expects its full year 2022 revenue to stay on the same level as in 2021.” + All Devices
Slide 10: New US Business Model – Recurring Revenue
New US Business Model – Recurring Revenue IN THE NEXT 5-10 YEARS, THERE WILL BE AT LEAST 50k – 100k FUNDUS CAMERAS CONNECTED TO AI IN THE US Complete Solution Business Model Customer Benefits From product sales to complete screening solutions with diagnosis Solution leased, not No initial investment
Slide 11: Optomed's mission is to prevent blindness by improving access to eye screening globally
Optomed’s mission is to prevent blindness by improving access to eye screening globally Bringing AI-integrated Expansion into new Opening new customer health screening to the geographical markets segments: primary care market
Slide 12: Appendix
Appendix
Slide 13: Devices Segment: Key Financials 1-9/2022
Devices Segment: Key Financials 1-9/2022 1-9/2022 1-9/2021 Change % Revenue 6,525 6,789 -3.9% Gross profit 4,430 4,776 -7.2% Gross margin 67.9% 70.4% EBITDA 1,373 1,339 2.6% EBITDA margin 21.0% 19.7%
Slide 14: Software Segment: Key Financials 1-9/2022
Software Segment: Key Financials 1-9/2022 1-9/2022 1-9/2021 Change % Revenue 4,122 4,510 -8.6% Gross profit 2,875 3,375 -14.8% Gross margin 69.7% 74.8% EBITDA -417 184 -326.8% EBITDA margin -10.1% 4.1%
Slide 15: Cash Flow: 1-9/2022
Cash Flow: 1-9/2022 1-9/2022 1-9/2022 Loss for the financial year -4,075 -2,313 Cash flows before change in net working capital -2,204 -673 Change in net working capital 243 -1,701 Cash flows before finance items -1,962 -2,373 Cash flows from finance items -132 -77 Net cash from operating activities
Slide 16: Balance Sheet
Balance Sheet 30 September 2022 30 September 2021 • Equity ratio of 63.3 (62.7) ASSETS percent Goodwill 4,256 4,256 Development costs 6,287 5,735 Other intangible assets • Total borrowings of EUR 5.4 1,220 1,441 Total intangible assets 12,683 12,528 (6.8) million Total tangible assets 1,867 1,347 To