Entific. Dan Pitulia CEO Entific Medical Systems

Transcription

1 Dan Pitulia CEO Entific Medical Systems Entific Spin-off from dental implant company Nobel Biocare in 1999 based on same technology Supplies a titanium implant system The world s only direct bone conduction system (BAHA) Anchoring system for facial prostheses (Face to Face) 1

2 Entific Organic revenue growth of around 42 per cent per year on average LTM revenue Q MSEK EBIT margin Q % HQ and production in Gothenburg, Sweden Sales and marketing organisation in the USA, UK, Germany, France, the Netherlands and Canada distributors in over 2 additional countries 14 employees, of which 63 within sales and marketing Entific 2

3 Unique technology - Direct bone conduction Unique core technologies Coupling system Skin penetration Sound processor Osseointergration 3

4 BAHA treatment - core advantages High sound quality and wearing comfort Pre-operative testing allows for predictive results Low risk surgery Minimal invasive surgery with no risk of damage Reversible No occlusion effect with BAHA MRI compatible Target group of >2.5 million patients Conductive Sensorineural Light hearing loss Medium Light to medium Severe No treatment Unilateral conductive Bilateral conductive Traditional hearing aids or middle ear implants Unilateral sensorineural Bilateral sensorineural Bone conduction (direct and indirect) Surgery (Traditional hearing aids) Bone conduction (direct and indirect) (Surgery) Direct bone conduction (CROS hearing aids) Cochlear implants 5, new patients per year 5, patients in total, of which 5% with bilateral 2, new patients per year 2 million patients in total 4

5 BAHA for Conductive ( CHL ) BAHA for Single-Sided Deafness ( SSD ) 5

6 Coffee break surgery through continous innovation Change to 4mm guide drill Change to screw tap Tapping Fixture mount handling Fixture mount removal Mounting of abutment Tighten to correct torque Strong IP protection Established patient base Interface between processor and implant (snap coupling) Copy existing products Transducer Key components Patents for transducer and self-tapping implant Special characteristics of the system (e.g. the FAST system) Covering entire indication SSD Coupling < The FASTsystem BAHA for SSD Self tapping implant 6

7 Strong sales growth driven by expanded indications and innovative product launches Spin-off from Nobel Biocare BAHA Compact launched Snap coupling launched FDA clearance for bilateral fitting FDA clearance for paediatrics FDA clearance for SSD Pick n Place launched Maintenance program introduced in the UK CPT codes in the US FAST system launched Clinical studies for NPC started Clinical studies for expanded indications start The BAHA system for SSD launched e Over 2/3 the patients treated since the spin-off Units 8, 7, 6, 5, 4, 3, 2, 1, e # of sold sound processors More than 2, treated BAHA patients worldwide more than half of the patients treated during the period

8 Summary financials last five years LTM sales Operating income and margins 25, 2, 15, 1, 5, Percentage 15% 1% 5% % -5% -1% -15% -2% Operating income EBIT margin Gross margin -25% CAGR 42% since 1999 Gross margins in excess of 8% EBIT of 19 MSEK (13%) in 23 and 27 MSEK (18%) Q3 24 Unparalleled combination of growth and positive cash flow with 9 MSEK in cash Q3 24 Geographical breakdown of sales Revenue Revenue CAGR 62% 6 CAGR 35% Q Q3 24 Eur ope & RoW, 79% North America, 21% Revenue 23 Europe & RoW North America North America, 35% Eur ope & RoW, 65% 8

9 LTM total sales 25, 2, 15, 1, 5, LTM sales - USA SEK/USD 7.7 during the whole period 9

10 High cash conversion EBIT and operating cash flow Jan-Sept 23 Jan-Sept 24 EBIT Operating cash flow Maintenance program Cash flow effect Cash Revenue recognition GBP 2, 1,6 1,2 8 4 GBP 1,6 1, , Year Year 1 Year 2 Year 3 Device #1 Device #2 Device #3 1,45 1,277 Year Year 1 Year 2 Year 3 Advance payment scheme in the UK Includes Replacement device every third year Accident insurance Servicing charges Started is the first year of delivery Will generate 1-12 MSEK cash 24 Device #1 Device #2 1

11 Coming five years Revenue growth exceeding 2 % per annum Selective expanded geographical cover Continue proving new indications for BAHA Maintain current gross margin and benefit from economies of scale Long term EBIT margin to exceed 25% Strong cash conversion through pre-paid sales programs 11