Slide 1: Q4 2023 Earnings call
Q4 2023 Earnings call February 8, 2024
Slide 2: Fredrik Ruben, CEO and Linda Tybring, CFO
Fredrik Ruben Linda Tybring Chief Executive Officer Chief Financial Officer linda.tybring@tobiidynavox.com 2024-02-08 2 © 2024 Tobii Dy navox AB (Publ)
Slide 3: About Tobii Dynavox
About Tobii Dynavox 2024-02-08 3 © 2024 Tobii Dy navox AB (Publ)
Slide 4: Our Vision and Mission
Our Vision A world where everyone can communicate Our Mission We empower people with disabilities to do what they once did, or never thought possible 2024-02-08 4 © 2022 Tobii Dy navox AB (Publ)
Slide 5: Our purpose
~ 50M number of people who cannot communicate effectively without Our purpose communication aids today As the world leader in assistive communication, we will drive the market forward while addressing a hugely underserved global audience. ~ M 2 ~ % 2 number of people diagnosed percentage of people y
Slide 6: Our global reach
Our global reach Revenue break down per region¹ • North America 78% • Europe 18% • Other countries 4% Countries where Tobii Dynavox products are sold Tobii Dynavox presence ¹ Based on FY 2023 Y TD December rev enue 2024-02-08 6 © 2024 Tobii Dy navox AB (Publ)
Slide 7: Fully integrated solution
1 Content Covid Trump Synthetic voices Brexit Wearing Mask Fully integrated solution TD Snap TD Talk Boardmaker 2 Software 1 2 Content Software PCEye TD Pilot I-Series I-110 (medical grade) (medical grade) (medical grade) Devices & 3 Hardware 3 5 Implementation Devices & Support 4 Assessment & 4 Fun
Slide 8: Q4: October – December 2023
Q4: October – December 2023 2024-02-08 8 © 2024 Tobii Dy navox AB (Publ)
Slide 9: Q4 2023 highlights
Q4 2023 highlights • Strong top-line growth, revenues +31% • Currency adjusted growth was 30% • Continued strong momentum across the board in all product categories and geographies • Operating profits more than doubled • Earnings per share up by 163% 2024-02-08 9 © 2024 Tobii Dy navox AB (Publ)
Slide 10: Full year 2023 highlights
Full year 2023 highlights • Revenue grew 33%. • Currency adjusted revenue growth was 27% • Operating profits up by 88% • Earnings per share more than doubled • Continued to strengthen our product portfolio • Acquired German Rehadapt Group 2024-02-08 10 © 2022 Tobii Dy navox AB (Publ)
Slide 11: Financials
Financials 2024-02-08 11 © 2024 Tobii Dy navox AB (Publ)
Slide 12: Q4 2023 Revenue & Gross Margin
Revenue (SEK million) and Gross Margin 69% 473 68% 68% 67% 67% 68% 67% 67% 67% 67% 67% 65% 66% 424 63% 64% 63% 64% 64% 64% 64% 381 Q4 2023 320 362 335 Revenue & Gross Margin 255 288 252 245 246 241 • Revenue was 473 SEKm (362), +31% 215 221 220 217 233 204 207 • Currency adjusted revenue growth was
Slide 13: Q4 2023 EBIT
EBIT (SEK million) and EBIT Margin 60 56 60% 50 48 50% 42 40 37 40% 34 30 29 28 29 28 Q4 2023 EBIT 30 28 30% 25 25 25 21 20 18 17 20% 16 13 • EBIT was 56 SEKm (25) (25)(25) 16% 15% 15% 14% 13% 14% 14% 11% 11% 11% 12% 10 10% 8% 8% 8% 7% 7% • 6% EBIT margin was 11.9% (6.8) 5% 6% 0 0% • Opex increased
Slide 14: Full year 2023 Revenue & Gross Margin
Revenue (SEK million) and Gross Margin 1613 Full year 2023 1216 68% Revenue & Gross Margin 909 66% 895 65% 872 • Revenue was 1,613 SEKm (1,216), +33% 65% 65% • Currency adjusted revenue growth was +27% • Solid growth in North America as well as Europe and the rest of the world 2019 2020 2021 2022 20
Slide 15: Full year 2023 EBIT
EBIT (SEK million) and EBIT Margin 160 155 40% 140 35% 127 120 30% Full year 2023 EBIT 100 101 25% 82 • EBIT was 155 SEKm (82)((82) 80 20% 60 • EBIT margin was 9.6% (6.8) (6.8) 60 15% 14.2% • Opex increased with 17% organically 40 11.1% 10% 9.6% • R&D spend negatively affected by 25 SEKm 20 6.9% 6.
Slide 16: Cashflow after continuous investments and cash position
Cashflow after continuous investments and cash position (SEK million) 200 100 63 Balance sheet 180 26 49 46 50 48 3 41 17 30 35 50 Cashflow after continuous investmetns 160 and Cashflow 140 -11 -28 - 30 -9 0 -50 • Cash flow after continuous investments +63 120 Cash position SEKm 100 197 -100 173 167
Slide 17: Summary of quarter and outlook
Summary of quarter and outlook • Another quarter of strong revenue growth • Profitability continues to strengthen sequentially, earnings per share up by 163% • Investing in systems and tools to cater for future growth and increased scalability. • Long term financial targets remain 2024-02-08 17 © 20
Slide 18: Long-term financial targets
Long-term financial targets > Growth 10% > 15% Profitability To increase currency-adjusted revenue by more To achieve and maintain an EBIT margin in than 10 percent on average per year excess of 15 percent Dividend Policy ~ Leverage 2.5x To primarily reinvest the Company's profit and use it for seve
Slide 19: Q&A
Q&A 2024-02-08 19 © 2024 Tobii Dy navox AB (Publ)
Slide 20: © 2022 Tobii Dy navox AB (Publ)
2024-02-08 20 © 2022 Tobii Dy navox AB (Publ)
Slide 21: Thank you!
Thank you! 2024-02-08 21 © 2024 Tobii Dy navox AB (Publ)