Careteq Ltd. · ASX:CTQ
Careteq — H1 FY2024 Earnings Presentation
27 slides from Careteq's earnings presentation, Feb 26, 2024
Slide 1: FY24 Interim Results Presentation
FY24 INTERIM RESULTS PRESENTATION Constant care, everywhere February 2024
Slide 2: Group Overview
Group Overview FY24 Interim Results Presentation | 2
Slide 3: Group Purpose and Strategy
Group Careteq is positioned to deliver best in class assistive living technologies and medication Purpose management solutions to enrich the lives of those that require care. Strategy Leverage our significant existing and future customer base to cross sell and expand our diversified technology syste
Slide 4: Company overview
Medication Company Assistive Living Marketplace Management Technology Platform Service overview SOFTWARE: SOFTWARE: SERVICES: Sofihub SaaS Platform Medication Reviews Embedded Health Recurring SaaS & PaaS products complemented by Solutions Platform that connects best of breed Marketplace platform co
Slide 5: Highlights 1H FY24 vs 1H FY23
Highlights 1H FY24 vs.1H FY23 $4.5m ~8000 $0.3m Group revenue +76.8% on pcp Sofihub subscribers +66% HMR Referrals run rate +200% (once sold devices are onboarded) ($0.4m) $0.8m Group EBITDA loss reduced by 80.8% EHS EBITDA (On track to deliver $1.5m FY24 EBITDA) FY24 Interim Results Presentation |
Slide 6: Group H1 FY24 result highlights
Group H1 FY24 result highlights H1 REVENUE AND EBITDA ($m) H1 FY24 H1 FY23 CHANGE 4.5 TOTAL GROUP $4.5m $2.6m +76.8% 2.6 REVENUE 1.9 -0.4 EBITDA ($0.4m) ($2.2m) +80.8% -2.2 -3.8 H1 FY22 H1 FY23 H1 FY24 NET PROFIT/ (LOSS) ($1.0m) ($2.4m) +60.5% Total revenue EBITDA FY24 Interim Results Presentation |
Slide 7: Group 1H FY24 result highlights: revenue split
REVENUE SPLIT ($m) 4.5 +55% CAGR Group +5% y-o-y +135% y-o-y 0.8 1H FY24 result +42% y-o-y +68% y-o-y highlights 2.6 0.3 1.9 3.8 FY24 has shown strong revenue growth 0.3 with the rapidly increasing subscriber numbers driving the Company towards 2.2 profitability. Continuous refinement of operations
Slide 8: Assistive Living Technology
Assistive Living Technology FY24 Interim Results Presentation | 8
Slide 9: Sofihub ecosystem
SaaS Platform Scalable SaaS platform that provides critical data and AI-powered insights from best of breed hardware Real-time Data Constant real-time stream of multiple data variables delivering broad detail on activities and occurrences Easy Access Can be accessed through various Sofihub devices i
Slide 10: Sofihub operational update
Sofihub Sofihub subscribers 9,000 operational update +111% INCREASE 8,000 +66% INCREASE Delivering on growth 7,000 6,000 Subscriber momentum Low churn 5,000 SaaS subscribers jumped 111% to Subscriber churn rate is proving c.8,000 with ARR approaching to remain low at 1.8% after an 4,000 $0.6m, (incl
Slide 11: Home Medication Review SaaS Marketplace
Home Medication Review SaaS Marketplace FY24 Interim Results Presentation | 11
Slide 12: HMR Referrals
Sends referral Matches HMR and receives HMR with HMR pharmacist HMR Referrals Referrals GPs Pharmacists Marketplace platform $ $ securely simplifying and streamlining the home medicines review (HMR) Feedback to process for GPs and patient and accredited pharmacists. Patients Conducts adjustment HMR
Slide 13: HMR Referrals operational update
HMR Referrals Strategic rationale operational update Cash Flow Positive Expected to be cash flow Acquisition is highly strategic positive post synergies, and and complementary contribute to the profitability of the Company for FY24 Synergies With c.400 GPs currently on the Acquisition of first-to-ma
Slide 14: Embedded Health Solutions
Embedded Health Solutions Medication Management Services FY24 Interim Results Presentation | 14
Slide 15: Medication management
Medication management Delivering on profit Strategic rationale for merger Cross-selling Strong Position Careteq merged its WardMM business with Careteq has the ability to cross- Merged business is in a strong position to Mederev into a JV (via non-cash transaction) sell Sofihub platform solutions me
Slide 16: EHS operational update
EHS operational update Strategic JV to significantly boost profitability and productivity OPERATIONAL UPDATE 1H FY24 PERFORMANCE EHS is benefiting from greater economies of scale and cross-selling opportunities. Dominant post-merger market position: $0.8m EHS business EBITDA in 1HFY24 54.8k 5.7k 42.
Slide 17: Group Priorities and Outlook
Group Priorities and Outlook FY24 Interim Results Presentation | 17
Slide 18: Group priorities and outlook update
PRIORITY 2: PRIORITY 3: Grow Sofihub subscribers EHS JV to deliver $1.5m in EBITDA in Group to 15,000+ in FY24 (initial target) Update: Approaching 8,000 subscribers FY24 Update: Successfully extracting synergies priorities (once all clients onboarded), up 102% over post merger and on track to deliv
Slide 19: Outlook
Outlook “ Our first half performance was extremely pleasing, delivering a vastly improved financial performance and a material increase in SaaS subscribers. Additionally, the consolidation of our medication management businesses and the recent acquisition HMR Referrals is expected to contribute sign
Slide 20: Appendix
Appendix FY24 Interim Results Presentation | 20
Slide 21: Corporate overview
Corporate BOARD OF DIRECTORS overview CAPITAL STRUCTURE 235,547,292 MARK SIMARI Executive Chairman STEPHEN MUNDAY Non-Executive Director BRETT CHEONG Non-Executive Director ALEX BOYD Executive Director / COO Shares on issue Over 15 years’ Board experience Over 40 years business Over 40 years of back
Slide 22: Profit and Loss
Account 31 Dec 2023 31 Dec 2022 VAR (%) Profit Trading Income $Am $Am Total Trading Income 4.16 2.40 +73.43 and Loss Other Income Total Other Income 0.37 0.16 +126.48 Total Income 4.53 2.56 +76.77 Less Direct Costs Total Direct Costs (2.36) (1.32) +78.70 Gross Profit 2.17 1.24 +74.73 GP Margin 47.95
Slide 23: Balance sheet
Assets Liabilities Current Assets $Am Current Liabilities $Am Balance Cash at Bank 2.17 Trade and Other Payables 2.00 Trade and Other Receivables 1.99 Lease Liabilities 0.06 sheet Inventories 0.21 Borrowings 0.70 Contract Assets 0.65 Employee Benefits 0.56 Contract Liabilities 0.45 Other Current Ass
Slide 24: Cash flow statement
31 Dec 2023 31 Dec 2022 CASH FLOWS FROM OPERATING ACTIVITIES $Am $Am Receipts from customers (inclusive of GST) 3.96 2.49 Cash flow Government grants and tax incentives 0.03 0.96 Payments to suppliers and employees (inclusive of GST) (5.20) (4.39) statement Net cash used in operating activities (1.2
Slide 25: Additional Growth Opportunities
Lone Worker Market Initial sales of TEQ-Secure safety pendants via existing channel partner Early customers include Transport Accident Commission (TAC) and Hospital-in- New Products Department of Health the-Home Global lone worker safety market Currently evaluating Hospital-in-the-Home is rapidly gr
Slide 26: Disclaimer and Important Notices
Disclaimer and Important Notices FY24 Interim Results Presentation | 26
Slide 27: Thank You
Thank You SAMANTHA THOMPSON MARK SIMARI CORPORATE ADDRESS Investor Relations Executive Chairman CARETEQ, Level 10, 99 Queen Street samantha.thompson@careteq.com.au mark.simari@careteq.com.au Melbourne, 3000 FY24 Interim Results Presentation | 27