Somnomed Limited · ASX:SOM
Somnomed — H1 FY2023 Earnings Presentation
23 slides from Somnomed's earnings presentation, Feb 22, 2023
Slide 1: Investor Presentation: Half Year 2023 results
For personal use only Investor Presentation Half Year 2023 results Treatment focused. Technology driven.
Slide 2: Disclaimer
Disclaimer For personal use only This document has been prepared as a summary only and does not contain all information about the Company’s assets and liabilities, financial position and performance, profit and losses and the rights and liabilities attaching to the Company’s securities. This documen
Slide 3: Agenda
Agenda For personal use only • 1H FY23 highlights • Vision and market opportunities • Financial information • Rest Assure® connected technology • Future outlook © February 2023 SomnoMed 3
Slide 4: 1H FY23 highlights
For personal use only 1H FY23 highlights
Slide 5: 1H23 financial highlights
1H23 financial highlights For personal use only Total revenue EBITDA2 Cash A$40.0m A$0.8m A$16.9m +18% vs 1H22 Increased product gross Secured net $11m North America margin to 72% in new debt funding +28% vs 1H22 EBITDA2 trending above post FY22 Europe1 guidance despite Sufficient capital to +11% vs
Slide 6: 1H23 strategic & operational highlights
1H23 strategic & operational highlights For personal use only • Revenue momentum in 1H23 underlies the strength of the core business and SomnoMed’s growing reputation and leading position in oral appliance solutions in the treatment of obstructive sleep apnea (OSA) • Strong result in Europe with rec
Slide 7: Vision and market opportunity
For personal use only Vision and market opportunity
Slide 8: SomnoMed's vision and mission
SomnoMed’s vision and mission For personal use only Our vision is to lead in the treatment of patients suffering from obstructive sleep apnea and relevant adjacent conditions Our mission is to advance the adoption, acceptance and treatment of oral sleep apnea therapies by medical specialists, dentis
Slide 9: Significant addressable markets globally
Significant addressable markets globally For personal use only Obstructive sleep apnea, a growing burden on the medical system affecting a significant portion of the population Obstructive sleep apnea (OSA) is a disorder that occurs when a person’s breathing is interrupted during sleep because the a
Slide 10: Financial information
For personal use only Financial information
Slide 11: Total group revenues
Total group revenues For personal use only $45m +18% $40.0m $40m $35m $33.9m $30m $25m +17% +19% $21.4m $20m $18.6m $18.4m $15.6m $15m $10m $5m $0m Q1 Q2 1H 1H22 1H23 © February 2023 SomnoMed 11
Slide 12: Total regional revenues
Total regional revenues For personal use only North America Europe APAC $18m $25m $4m +11% +18% $16m +28% $3m 3.1 21.6 15.2 $20m $14m 19.5 $3m 2.6 $12m 11.9 $15m +18% $10m $2m +31% +8% +17% +4% $8m +44% 12.0 $2m 7.9 $10m 1.5 1.6 7.3 10.2 1.4 6.8 9.3 9.7 $6m $1m 1.2 5.1 $4m $5m $1m $2m $0m $0m $0m Q1
Slide 13: EBITDA and margin analysis, product gross margin
EBITDA1 and margin analysis Product gross margin For personal use only 69% 72% • Gross margin grew by $4.3m vs 1H22, reflecting increased revenues driven by growth initiatives. The MAS product gross margin of 71.6% $20.9m $22.4m increased by 2.4 percentage points from 1H22, thanks to production effi
Slide 14: Profit and loss summary
Profit and loss summary For personal use only A$m 1H23 1H22 % Regional sales and marketing expenses including: Revenue 40.0 33.9 18% • $1.8m on sales and marketing resources to Gross margin 25.2 20.9 20% drive organic growth as well as to support new product initiatives Regional sales & marketing ex
Slide 15: Summary balance sheet and cash flow
Summary balance sheet and cash flow For personal use only Statement of financial position Statement of cash flows Net cashflow from operating A$m Statutory Statutory A$m Statutory Statutory activities, notably: 31 Dec 2022 30 Jun 2022 31 Dec 2022 30 Jun 2022 Utilisation of cash in operating Cash and
Slide 16: Rest Assure: technology-enabled oral appliance
For personal use only Rest Assure® SomnoMed’s technology-enabled oral appliance
Slide 17: Rest Assure technology – how does it work?
Rest Assure® technology – how does it work? For personal use only Smart oral appliance and cloud based infrastructure SOM algorithms determine AHI1, graphs, tables Patient app Smart oral appliance with sensors recording overnight data. Physician portal Patient docks their device after Raw data trans
Slide 18: Pursuing commercial readiness
Pursuing commercial readiness For personal use only Rest Assure® - overnight compliance and efficacy monitoring for COAT™ Delivered in 1H23: • Patient App, HCP portal and cloud based systems completed • First production run of 400+ devices completed • 30 internal safety tests completed and results w
Slide 19: Future Outlook
For personal use only Future Outlook
Slide 20: Positioned for future growth
Positioned for future growth For personal use only Technology driven Investment in the technology pathway to unlock true COAT™ potential Best in class service and technical support Growing and extensive sales and distribution footprint in both dental and medical channels Treatment focused Design and
Slide 21: Growing the sector through positioning the patient's alternative
Growing the sector through positioning the patient’s For personal use only alternative Leverage One Platform and Rest Intensified efforts to position Product COAT as an effective alternative to Assure® to influence all steps Development within the patient journey and CPAP as first line therapy; and
Slide 22: Outlook
Outlook For personal use only Advance the acceptance and adoption of technology enabled oral appliance treatment solution for OSA patients FY23 guidance Operational initiatives Strategic objectives FY2026 aspiration2 Invest EBITDA1 • Revenue growth • Drive medical initiative • Remain patient centric
Slide 23: For further information please contact
For personal use only For further information please contact: Corporate Investors Mr. Neil Verdal-Austin Mr. Craig Sainsbury CEO SomnoMed Automic Group +61 406 931 477 +61 428 550 499 Nverdal-austin@somnomed.com Craig.sainsbury@automicgroup.com.au © February 2023 SomnoMed 23