AI assistant
ContextVision AB Investor Presentation 2020
9979_rns_2020-09-24_4d3a1566-d4ce-44ee-985e-6c08c78b6fac.pdf
Investor Presentation
Open in viewerOpens in your device viewer
ContextVision
Jan-June 2020
Shareholder update
Fredrik Palm, CEO & President
Agenda
- Company highlights 1st HY
- Q2 details
- Medical imaging summary
- Digital pathology status including product demonstration
- Financials in short 1st HY
- Summary including COVID-comments
ContextVision
ContextVision – a medical technology software company specializing in image analysis and artificial intelligence, for image-based applications.
BUSINESS AREAS
Medical Imaging
Globally established market leaders
Digital Pathology
Frontrunner in the market
ContextVision – brief facts
- ~50 employees (50% within R&D)
- World-leading product development based on machine learning
- Over 35 years’ experience within image processing and image analysis for medical applications
- Over 300,000 system installations: worldwide
Highlights
- Record sales
- New contracts with key Medical imaging customers
- First digital pathology product CE-marked and released for use in clinical routine within EU
- New ultrasound product
- Strengthened cash position
ContextVision
Sales Q2 2020
Total sales per quarter
- Total sales Q2 2020: 20,1 MSEK (23,1) - 13%
ContextVision
6
Sales Q2 2018 - 2020
ContextVision
Sales per modality Q2
Modality Q2 2020
X-ray +78 % vs Q2-2019
US2D -8 % vs Q2-2019 (related to COVID-19)
US3D -60% vs Q2-2019 (partly related to COVID-19)
Modality Q2 2019
8
ContextVision
Medical Imaging - highlights
Altumira™ – AI-based X-ray image enhancement
Gold standard image quality
Robustness between patients and varying exposure conditions
Processed with Altumira
Standard processing
Rivent™ – the 7th generation of image enhancement for ultrasound
Processed Ultrasound - Abdomen
MRI- Abdomen
Disclaimer – the image examples is only an sharpness illustration of the images. It does not reflect clinical information
ContextVision
Power to the pathologist
INITY Prostate Screening
ContextVision
A young, rapidly growing market
Digital pathology is a rapidly growing market driven by the shortage of pathologists worldwide. Going digital enables use of decision support tools that make pathologists' work more efficient.
DIGITAL PATHOLOGY
- Provides easy access to specialists
- Means a new, more efficient workflow
- Opens for automated image analysis
Automated image analysis has the potential to radically transform the diagnosis process and improve patient care.
ANALOGUE
DIGITAL
ContextVision
11
Market estimations
ContextVision
12
INIFY Prostate Screening – granted CE mark
Master Annotation™
INIFY Prostate Screening CE-marked
ContextVision
"A prototype version of the product has been used daily for two years in our fully digital pathology workflow here in Catania, and I can testify that it is really easy to use, saves time and helps highlight suspicious areas for cancer."
Dr. Filippo Fraggetta, Chief Pathologist Cannizzaro Hospital, Italy
https://www.contextvision.com/investors/podcast/
ContextVision
Financials Jan-June 2020
- Sales of 49.2 MSEK (44.2)
- EBITDA of 17.6 MSEK (13.4)
- Operating result of 13.4 MSEK (9.7) and operating margin of 27.2% (21.9%)
15
ContextVision
Income statement Q2 2020
| Q2 2020 | Q2 2019 | SIX MONTHS 2020 | SIX MONTHS 2019 | FULL YEAR 2019 | |
|---|---|---|---|---|---|
| Net sales | 20 084 | 23 138 | 49 234 | 44 201 | 95 312 |
| Total revenues | 20 084 | 23 138 | 49 234 | 44 201 | 95 312 |
| Goods for resale | -398 | -552 | -1 228 | -1 152 | -2 289 |
| Other external costs | -4 357 | -4 033 | -7 343 | -8 597 | -21 435 |
| Personnel costs | -11 599 | -11 299 | -23 111 | -21 070 | -43 347 |
| Depreciation | -2 133 | -1 843 | -4 121 | -3 667 | -8 170 |
| Write-down of intangible assets | 0 | 0 | 0 | 0 | -10 000 |
| Operating results | 1 596 | 5 411 | 13 431 | 9 715 | 10 072 |
| Interest income | 0 | 0 | 0 | 0 | 25 |
| Interest cost | -64 | -87 | -130 | -181 | -333 |
| Results after financial items | 1 532 | 5 324 | 13 301 | 9 534 | 9 763 |
| Tax | -303 | -1 227 | -2 992 | -2 144 | -2 365 |
| Net results | 1 229 | 4 097 | 10 309 | 7 390 | 7 398 |
16
ContextVision
Business Units / Operating Segments
| | BUSINESS UNIT
MEDICAL IMAGING | | BUSINESS UNIT
DIGITAL PATHOLOGY | | GROUP TOTAL | |
| --- | --- | --- | --- | --- | --- | --- |
| | SIX MONTHS
2020 | SIX MONTHS
2019 | SIX MONTHS
2020 | SIX MONTHS
2019 | SIX MONTHS
2020 | SIX MONTHS
2019 |
| Net sales | 49.2 | 44.2 | - | - | 49.2 | 44.2 |
| Operating
expenses | -25.7 | -29.2 | -10.1 | -5.3 | -35.8 | -34.5 |
| Operating results | 23.5 | 15.0 | -10.1 | -5.3 | 13.4 | 9.7 |
ContextVision
Cash flow first six months 2020
| 6 months 2020 | 6 months 2019 | Full year 2019 | |
|---|---|---|---|
| Cash flow for the period | 8 916 | 1 759 | -1 616 |
| Liquid assets at beginning of period | 36 329 | 37 945 | 37 945 |
| Liquid assets at period end | 45 245 | 39 703 | 36 329 |
Positive cash flow of 8.9 MSEK during the first six months
ContextVision
18
Summary
- Entered the digital pathology market with CE marked product for prostate diagnosis.
- Strengthening medical imaging position with new customer contracts and a new ultrasound product.
- COVID-19
- Solid financials
ContextVision
ContextVision
Thank you!