Slide 1: Modulight Oyj
Modulight Oyj Seppo Orsila toimitusjohtaja 29.11.2022
Slide 2: Today’s agenda
Today’s agenda ❑ Modulight in brief ❑ Q3 2022 highlights ❑ Objectives and Financial Targets Update picture ❑ Q&A Memory Sloan Kettering Cancer Center, New York, NY (Nov-22) 2
Slide 3: Modulight in Brief
Modulight in Brief modulight We
Slide 4: Modulight in brief
Modulight in brief Modulight provides lasers and optics for demanding applications EBITDA, % average 44 % 2018-2021 (2022/1-3Qs at loss) Medicine- ja Biomedicine Other high-value add applications Projects with ❑ Oncology (cancer diseases) Modulight provides laser ❑ Quantum computing commercializatio
Slide 5: Aging population driving demand for better cancer treatment
Aging population driving demand for better cancer treatment Elderly population doubling in size during the next decades Age is the biggest risk factor for cancer Population aged over 65 years old (in millions) Incidence rate per 100,000 persons 2 500 2 000 +113% 2 250 1 800 Median age of 2 000 cance
Slide 6: Significant potential in indications with high unmet need
Significant potential in indications with high unmet need McKinsey study shows high unmet need in several tumor types1) Pancreatic Pre-clinical HCC (liver) Pre-clinical Lung Pre-clinical NSCLC-Other CE/FDA approved Esophageal CE/FDA approved Glioblastoma Clinical trial Head & neck CE approved Ovaria
Slide 7: Modulight’s customer base
Modulight’s customer base Customer ownership 30 25 ❑ 12% are research companies 20 ❑ 31% are privately owned 15 ❑ 58% of customers are listed 10 companies ❑ 62% are established companies 5 ❑ 27% have over 1bn revenue 0 3Q21 4Q21 1Q22 2Q22 3Q22 Hospitals & Research Private company Listed company 7
Slide 8: A typical project
A typical project CASE EXAMPLE: Generic Modulight customer project flow First contact with customer 6 – 24 months 3 – 5 years 5 – 10 years Sales cycles Typical projects Project plans are often ambitious - New cancer GTM phase – vary – often start with early delays are common due to many therapies Mo
Slide 9: Q3 2022 Highlights
Q3 2022 Highlights modulight
Slide 10: Q3 2022 financial highlights
Q3 2022 financial highlights Revenue EBITDA EBIT ❑ Revenue -42% YoY mainly due to uncertainty in the business environment EUR EUR EUR ❑ Lower profitability due to lower revenue 1,232 -1,342 -1,812 ❑ Costs increased due to thousand growth strategy thousand thousand implementation -109% of -147% of ❑
Slide 11: Solid product development pipeline
Solid product development pipeline Number of projects with commercialization potential ❑ 26 projects 30 ❑ Opportunity to accelerate cloud strategy (pay per 25 treatment business model) 20 ❑ One new project initiated in dermatology with an 15 existing customer 10 ❑ One project with a blue-chip compan
Slide 12: Product development pipeline progressing
Product development pipeline progressing Customer: Major NYSE listed Customer: Publicly listed US Customer: Publicly listed US medical pharmaceutical company pharmaceutical company device company Indication: Ophthalmology Indication: Bladder cancer Indication: Dermatology Discussions about a “classi
Slide 13: Investment program update
Investment program update Epitaxial wafer ❑ Investments starting to show operational benefits: ❖ Further differentiation ❖ Expanded offering ❖ Increased productivity ❖ Higher capacity ❑ Record number of CAPEX tool investments on- going & several installation teams from Japan and elsewhere at Modulig
Slide 14: Updated Strategy and Financial Targets
Updated Strategy and Financial Targets
Slide 15: Updated strategy and financial targets 2023–2025
Updated strategy and financial targets 2023–2025 Targeting strong annual Continuing to focus on Taking advantage of the growth and a return to the company's unique laser state-of-the-art technology strong profitability technology expertise and production capacity expanding its offering to new indica
Slide 16: Strategy and targets
Strategy and targets STRATEGIC KEY Geographical Expansion to new New business Commercial and State-of-the-art FACTORS expansion indications and models operative laser technology applications excellence expertise Sales, marketing and operations development Cloud technology and cloud based service dev
Slide 17: Outlook
Outlook Modulight has not issued a guidance for revenue or profitability in 2022. As the company’s customer projects are still distributed across varying early stages of development, and predicting developments in the market remains challenging, it is difficult to forecast performance in 2022. Updat
Slide 18: Summary
Summary ❑ 26 projects R&D pipeline with US and other international pharmaceuticals and life science / technology companies. Typically Modulight is sole source technology partner with also wide clinical responsibilities ❑ Focus on local presence in US (sales+service+regulatory) and proactive sales wo
Slide 19: Thank you! Questions?
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