ImpediMed : Appendix 4C & Quarterly Activities Report - Jun-2022 Qtr

For personal use only

ASX:IPD

QUARTERLY

ACTIVITIES

REPORT

APPENDIX 4C -

Quarter Ended 30 June 2022

28 July 2022

1

only	F O R W A R D - LOOKING STATEMENTS
	This announcement contains or may contain forward-looking statements that are based on management's beliefs, assumptions
usepersonalFor
STATEMENTSLOOKING-FORWARD	and expectations and on information currently available to management.
All statements that address operating performance, events or developments that we expect or anticipate will occur in the future

are forward-looking statements, including without limitation our expectations with respect to our ability to expand sales and market acceptance in the US and Australia including our estimates of potential revenues, costs, profitability and financial performance; our ability to develop and commercialise new products including our ability to obtain reimbursement for our products; our expectations with respect to our clinical trials, including enrolment in or completion of our clinical trials and our associated regulatory submissions and approvals; our expectations with respect to the integrity or capabilities of our intellectual property position.

Management believes that these forward-looking statements are reasonable as and when made. You should not place undue reliance on forward-looking statements because they speak only as of the date when made. ImpediMed does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. ImpediMed may not actually achieve the plans, projections or expectations disclosed in forward-looking statements. Actual results, developments or events could differ materially from those disclosed in the forward-looking statements.

2

use only		AREAS OF FOCUS
	Background
personal
•	Dave Anderson, Interim CEO
	•	Board Member since April 2020
	•	30-year background in healthcare and
		insurance
For	•	Past CEO and President of Blue Cross
	Blue Shield of Western and Northeastern
	New York
	•	Broad experience in healthcare with an
		expertise in reimbursement

FY23 Starting Point

Initial Focus Areas

• Transformative product with accelerating	•	Obtaining reimbursement
	data usage	•	Accelerating sales
• Experienced and dedicated team	•	Cost control
•	Solid platform to support growth	• Reaching breakeven with current capital
•	Strong progress in reimbursement	•	Engaging stakeholders

- 99% win rate	-	Shareholders
• NCCN submissions on track	-	Staff
• Sound financial position	-	Customers and Patients
- $40m in cash, equivalent to
14 quarters of operating cashflow*
• Clear path to breakeven

*Estimated quarters of funding available as calculated in note 8 of Appendix 4C, Quarterly cash flow report

3

For personal use only

Q4 F Y ' 2 2 OVERALL BUSINESS RESULTS

TOTAL REVENUE

	$2.8m
	Q4 FY'22
	✓ RECORD QUARTER
$0.2m
YOY
	+ 8%
Legacy
Business

$2.6m

SOZO

Business

• RECORD QUARTER

+ 15%

YOY

• SaaS Revenue from Core Business
• SaaS Revenue from Clinical Business (AstraZeneca)
• New SOZO contracts signed and device revenue

$2.8m

TOTAL Q4 REVENUE

>$10m

TOTAL FY'22 REVENUE

$40.7m

CASH ON HAND

14 QUARTERS CASH

AVAILABLE^

	^ YOY denotes Year-over-Year change in metric.
	All FY'22 revenue and cash flow numbers are unaudited.
4	All figures are stated in Australian dollars (AUD) unless otherwise notated.
Estimated quarters of funding available as calculated in note 8 of Appendix 4C, Quarterly cash flow report

$2.8m $(2.9)m

CASH RECEIPTS

NET OPER. CASH OUTFLOW

For personal use only

Q4 F Y ' 2 2 BUSINESS PERFORMANCE

Revenue and SaaS Metrics

• Record results for Total Revenue, SOZO Revenue and SOZO SaaS Revenue despite remaining headwinds from the pandemic
• $2.3m SOZO SaaS Revenue, +21% YOY and +2% QOQ
• $7.8m ARRi, of which $7.3m relates to the Core Business, +19% YOY
• $16.5m CRPii, +14%YOY; 90%+ SaaS Gross Margins on CRP
• Record result for TCViii, with $3.5m signed in Q4 FY'22, of which $3.4m relates to the Core Business, +50% YOY
• 2% Churn Rate & 93% Renewal Rate on devices
• • 100% of customers renewed during the period
• 34 units sold, 880+ units now sold overall

Cash Flow

1. • $2.8 million in Cash Receipts from Customers, a record result
   • Net Operating Cash Outflows of $(2.9) million
   • Net Operating Cash Outflows expected to temporarily increase in Q1 FY'23 but then expected to be around $3.0 million per quarter, with the ability to progress below $3.0 million as sales accelerate*
2. Annual Recurring Revenue (ARR): The amount of revenue reasonably expected to be booked for the next 12- month period based on existing signed contracts, and assuming installation upon sale.
3. Contracted Revenue Pipeline (CRP): Future period revenue amounts related to TCViii that are yet to be reported as recognised revenue.
4. Total Contract Value (TCV): Total value of customer contracts including one-time and recurring revenue.

5 *Based on an estimated foreign currency of $1.00:$0.70 AUD:USD.

SOZO Revenue

(Excluding Legacy)

$2,700,000

$2,025,000

$1,350,000

$675,000

OMICRON VAR

DELTA VARIANT

$-

COVID-19

Q4'17

Q1'18

Q2'18

Q3'18

Q4'18

Q1'19

Q2'19

Q3'19

Q4'19

Q1'20

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Q3'20

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Q1'21

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Q1'22

Q2'22

Q3'22

Q4'22

SaaS^

Device and Contract Fees

^The values shown are for SaaS Revenue are across all lines of business, including the Core Business and Clinical Business. The Company began breaking out revenue from the Clinical Business in FY'21.

All FY'22 revenue and cash flow numbers are unaudited.

All figures are stated in Australian dollars (AUD) unless otherwise notated.