MACH7 TECHNOLOGIES LIMITED — Investor Presentation 2021

Aug 22, 2021

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Our Business

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Key Achievements FY21 Customer Success

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Financials Outlook

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Hospital systems around the world use Mach7 Technologies

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Customer Footprint
15 Countries
Australia
Canada
China
France
Hong Kong
Indonesia
Italy
Netherlands
Qatar
Philippines
Singapore
Saudi Arabia
United Kingdom
United States
Vietnam
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Mach7 EIP; Mach7 eUnity eUnity FDA eUnity eUnity Founded Development Approval Class II Mobile Collaboration Begins First Mach7 Pilots; eUnity signs First eUnity Sentara Customer Install Health, UCSF, UMM

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Mach7 QC; Mach7 UWL; eUnity eUnity eUnity Multi-Monitor Mammo MIP/MPR/3D

Mach7 Mach7 awarded acquires Global EIS Client Leadership award Outlook by Frost & Sullivan

Mach7 Listed on Mach7 signs Mach7 signs Mach7 signs CIO Review’s "20 Most Promising Workflow the ASX (M7T) HAHK Advocate a top 5 Solution Providers in 2021” Aurora Health US IDN; eUnity signs Industry Tech Insights’ "Top 10 Companies Partners Revolutionizing Health Healthcare in 2021"

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At Mach7, we provide an Enterprise Imaging Platform, that provides:

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Consolidation of all
images
At the core of this platform is a
Vendor Neutral Archive which
consolidates all images and
reports across the enterprise
into a single repository.
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Access all images
We then enable access to this
data to enterprise users
directly or through the
Electronic Medical Record
using our true zero footprint
viewer. This combined solution
insulates the enterprise users
from radiology departmental
technology changes or
departmental downtime
issues.
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PACS solution
The enterprise platform can be
used as a diagnostic PACS
solution, downtime PACS
solution, research platform, or
a test system for adaptive
intelligence algorithms without
impacting clinical workflow.
This is a software only solution
that leverages our customers
existing IT infrastructure to
streamline workflow and
reduce IT burden.
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An enterprise-wide, interoperable platform for storing, retrieving and viewing all medical imaging data in one vendor neutral ecosystem.

Consisting of:

• Enterprise Data Management

• Enterprise Diagnostic Viewing

• Enterprise PACS

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Enterprise Data Management

• Vendor neutral archiving and image data management

• Can consolidate all images and imaging data

• Reduces complexity, makes data more accessible

• Offered on-premise or via Cloud infrastructure

• Drives and supports workflows across the enterprise to optimally capture, index, manage, store, distribute, view, exchange, and analyze all clinical imaging and multimedia content

• Security and exceptional performance

• Migration services

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Enterprise Diagnostic Viewing

• Industry leading zero-footprint eUnity Enterprise and Diagnostic Viewers

• No need to sacrifice image quality for amazing performance. Images stored to disk are presented at 100% of their quality.

• Accessible on any device with an HTML5-enabled web browser

• Designed to integrate with any PACS, VNA, or other image archive and can launch from any EMR

• One single viewer for all users, reducing cost and complexity while increasing access

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	Loyalty Product Value
Culture	Operations Relationship

Dynamic LIVE Data that may change

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Enterprise PACS

• Enterprise diagnostic viewing and enterprise data management solution

• Powerful universal worklist and quality control tools to replace traditional PACS

• Load balance workloads across active clinicians with advanced algorithms

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• Advanced assignment features with streamlined resident workflow

• Clinical collaboration through screen sharing and secure on-line chat capabilities

• User-created worklists, intelligent workload balancing and color-coded relevant prior studies

• Helps save time, reduce frustration, and improve patient care

• Enables a powerful teleradiology solution that can be accessed anywhere

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M&A
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Awards
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Sales Up 95%
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ARR Up 80%
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New Talent
Bob Tranchida, VP Marketing
David Madaffri, VP Sales
Lisa Thompson, VP Services
CIO Review
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More than 150 customers spanning 15 countries

Hospitals and healthcare entities around the world deploy Mach7’s solutions and innovative technologies.

We have built a global network of diverse customers that range from expansive Integrated Delivery Networks, National Health Systems, medical research facilities, and large academic medical institutions, to regional community hospitals, children’s health centers and independent provider groups.

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Partnerships focused on Meaningful Value to Support Patient Care

Augmenting and expanding Mach7’s Enterprise Imaging Solution through innovative and collaborative partnerships designed to provide elevated value to healthcare providers around the globe.

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Sales Orders (TCV) Since Inception ($M)

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30.0 M
25.0 M
20.0 M
15.0 M
10.0 M
5.0 M
0.0 M
2009-2012 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21
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• $114M of Sales Orders since inception*

• • Established growth trajectory with 30% CAGR since FY14

*Includes Client Outlook sales from acquisition date onwards

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% of Total Contract Value

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21%
30% COVID Delayed
LOST
WON
Expect to Win
17%
32%
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Of the $40M Pipeline (subset) previously announced on 10 June 2020:

• Won 32%

• Expect to Win further 30%

• 21% are still in the pipeline, decisions were delayed due to COVID

• 17% were lost

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Mach7 Records $25.6M of Sales Orders in FY21 – ~85% of value still to be recognised as revenue

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+$0.3m to ARR p/a

70% ($3.6m) are new & majority will fall in FY22 & Beyond +$0.8m to ARR p/a 5% ($0.65m) hit Software Revenue FY21 49% Software Revenue FY22 & Beyond +$1.2m to ARR p/a

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FY20 $2.4B

Mach7 5 year Revenue

FY25 $2.9B

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• $25.6M Sales Orders (TCV*); Highest on Record; up 95%;

• 20% of Sales Orders are SAAS; Up from 3% in FY20

• 97% Gross Margin %; Up from 87% in FY2020

• $18.4M Gross Margins; Up 12%

• $19.0M Revenue; Up 1%; (Up 13% on a constant currency basis)

• EBITDA Loss -$1.8M; (FY20 Profit $3.3M)

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Two sales models – Capital License (“Capex”) and Subscription License (“SAAS”)

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Capital License Subscription License
Activity Revenue Recognition Example Activity Revenue Recognition Example
License Granted (perpetual or 5 year term) License Granted (subscription)
Software is delivered 100% License Fee Eg $1M Software is delivered No revenue n/a
Professional Services Professional Services
Implementation phase % complete Eg $0.3M Implementation phase % complete Eg $0.3M
Annual Support (5 years) Subscription License (5 years)
Software is live Monthly (evenly) Eg $0.2M per annum Software is live Monthly (evenly) Eg $0.45M per annum
Total Contract Value (eg $2.3M) Total Contract Value (eg $2.55M)
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Annual Support + Subscriptions = Annual Recurring Revenue (ARR) Current run-rate = $13.4M p/a / 165 active customers, Covers > 60% of operating expenditures

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+ New
Business
Acquired Aug to June
Client
Outlook 25.0 M
20.0 M
ASX 15.0 M
Listing
10.0 M
5.0 M
0.0 M
CY12 CY13 CY14 CY15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22
Minimum
Recurring Revenue Professional service fees Software licence fees
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• Revenue CAGR = 28% since listing

• FY22 book of business at $23.1M to date:

• $6.1M software license fees from Capital Licenses Already Sold – Phased Roll-Out

• $2.2M services order book

• $13.4M recurring revenue run rate (today)

• $1.4M AAH, St. Lukes revenue already recognised July

• 11 months of year to win new contracts, adding to FY22 minimum of $23.1M

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18.00 M
16.00 M
14.00 M
12.00 M
10.00 M
8.00 M
6.00 M
4.00 M
2.00 M
0.00 M
FY 17 FY 18 FY 19 FY 20 FY 21
Recurring Revenue Contracted Annual Recurring Revenue
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• $10.9M ARR Recognised for FY2021; Up 80% (FY20 $6M)

• $13.4M ARR Current Run-Rate

• $15.8M Contracted Recurring Revenue ($2.4M of recurring revenue on back order, not live)

• 4.4% Recurring Revenue Attrition (since inception, not annually)

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Annual Recurring Revenue (ARR) Growth

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12.0 M
10.0 M
8.0 M
6.0 M
4.0 M
2.0 M
0.0 M
FY 18 FY 19 FY 20 FY 21
Annual maintenance fees Subscription, Pay-per-use
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Strong ARR Growth

• ARR up $4.85M (80%)

• Subscription fees up $3.22M (620%)

• Annual maintenance fees up $1.63M (29%)

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Expenses $21.1M, includes:

• Operating expenses $17.5M

• CGS $0.6M

• Non-cash share-based payments and FX loss $3.0M

• R&D 28.5% of Expenses

• R&D is all expensed as incurred (not capitalized)

• Sales & Marketing 14% of Expenses (16% of Revenue) - very efficient - has scope for investment to drive revenue growth

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				50%
				0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
FY	20	FY	21

• 24% improvement in contribution margin* despite flat revenue growth

• Removal of distributor fees on the Client Outlook product following the acquisition

• Reduced marketing activity given COVID restrictions

• Offsetting these positive drivers were increases in R&D & Services expenditure

• Contribution margin is anticipated to be stable at >45% for FY22

*Contribution margin = [CGS, sales & marketing, services, R&D (30%), G&A (20%)] as a % of Revenue

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Impact to FY21

• Hospitals in the US faced unprecedented financial pressure

• This in turn effected hospital staffing and forced prioritization of projects

• Revenue delays were created by the timing of projects due to staffing and budget uncertainty

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Outlook FY22

• Hospital spending appears to be back on track

• Staffing issues are on their way to recovery

• Projects are being prioritized for imaging and IT

• Travel to sites and tradeshows will have a positive impact on pipeline

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Financial
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Product
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Sales & Marketing
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Industry
Focused on Enterprise
Data Management, the
backbone of an
Enterprise Strategy
Focused on providing
the best enterprise
zero foot-print viewer
in the industry
Enterprise Imaging is
growing by segment in
the industry every year,
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Jenni Pilcher, CFO, jenni.pilcher@mach7t.com

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