Saluda Medical Inc · ASX:SLD
Saluda Medical — FY2026 Earnings Presentation
20 slides from Saluda Medical's earnings presentation, Aug 28, 2026
Slide 1: FY26 Results Presentation
For personal use only FY26 Results Presentation August 28, 2026 Weare on a Mission to Transform Patients’ Lives with Revolutionary Neural-Sensing Technology
Slide 2: Important Notice & Disclaimer
Important Notice & Disclaimer THIS DOCUMENT AND ITS CONTENTS ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA OR TO ANY RESIDENT THEREOF, OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIB
Slide 3: Saluda's Value Proposition
Saluda’s Value Proposition Clinical differentiation converging into commercial and economic leverage For personal use only PAIN RELIEF AT 36 MONTHS Durability 83% Most compelling long-term efficacy profile in SCS Zero explants for loss of efficacy in EVOKE clinical trial REPROGRAMMING VISITS PER YEA
Slide 4: FY26 Key Milestones
FY26 Key Milestones A year of accelerating growth, commercial scale and portfolio expansion For personal use only Accelerating revenue growth US FY26 revenue growth +27%; US exited FY26 at +45% in Q4 +28% Global FY26 YoY revenue growth Scaling commercial organisation Commercial team significantly ex
Slide 5: Spinal Cord Stimulation (SCS) is an Established Market
Spinal Cord Stimulation (SCS) is an Established Market SCS represents a substantial opportunity which remains significantly underserved For personal use only Annual cost of chronic pain in ~24% of American Adults2 US exceed costs of heart disease, cancer and diabetes1 have chronic pain ~6% Estimated
Slide 6: Evoke Stimulates, Measures and Adjusts Therapy on Every Pulse
Evoke® Stimulates, Measures and Adjusts Therapy on Every Pulse Implanted lead delivers stimulation & measures resulting neural response, enabling personalised therapy For personal use only Stimulate Individual optimal dose Patient A Pain relief starts with neural SCS activation leads Neural activati
Slide 7: Lower Reprogramming Rates | Real World Experience
Lower ReprogrammingRates | Real World Experience Commercial patients through June 2026 have less than one reprogramming visit after 12 months1 6.0 For personal use only 7 6.0 Visits per year, per Patient Average Visits2 with Standard SCS2 6 5 4 3.1 Average Visits <1 visit per year after the first 12
Slide 8: EVA Automated Programming System Changes the Game
EVA Automated Programming System Changes the Game Deep Data Analytics and Automation for Personalised Therapy For personal use only 92% 96% Pain responder Patient (≥50% Pain relief)1 = 97% satisfaction1 000 67% Of Patients felt a Pain high responder Analysethe Find the DeterminePersonalised sense of
Slide 9: Q4 FY26 Quarterly Activity Report
Q4 FY26 Quarterly Activity Report Revenue and select US commercial metrics QUARTERLY REVENUE TREND (US$M) 1 MOST RECENT QUARTERLY COMMERCIAL PERFORMANCE 1 For personal use only Q4 Q4 Growth Full Year Full Year Growth $27.0M FY26 FY25 vs. PCP FY26 FY25 vs. PCP ASX IPO US Int'l US Revenue ($m) 18.4 12
Slide 10: FY26 Results & FY27 Guidance
FY26 Results & FY27 Guidance FY26 P&L HIGHLIGHTS | US$ MILLIONS FY27 GUIDANCE RANGE | US$ MILLIONS For personal use only vs. Guidance (G) FY25 FY26 Change Y/Y vs. Prospectus (P) FY27 Change Y/Y Revenue $70.4 $90.2 +28% G $113 – $122 +25% – 35% Gross margin 46.6% 48.9% +230 bps P 50% – 52% +110 – 310
Slide 11: Saluda's Growth Strategy
For personal use only Saluda’s Growth Strategy
Slide 12: Strong Market Adoption with Key Future Growth Drivers
1 Strong Market Adoption with Key Future Growth Drivers Evoke® gaining market share with positive momentum since launch Revenue (US$M) use only REVENUE PROFILE (US$M) 1 KEY GROWTH DRIVERS Growth in key metrics – well positioned to continue expansion into FY27 and beyond +30% CAGR $113-$122 Expand in
Slide 13: US Sales Force Expansion Unlocking Continued Opportunity
Expand into New Expand Within Launch Enter New Territories Existing Physicians New Products Channels US Sales Force Expansion Unlocking Continued Opportunity ~60% of US sales force fully trained as we enter FY27 and poised to drive productivity Growth in Avg. Number of U.S. Trained Reps INCREASING M
Slide 14: Only ~4% Penetrated While Physician Utilisation Continues to Increase
Expand into New Expand Within Launch Enter New Territories Existing Physicians New Products Channels Only ~4% Penetrated While Physician Utilisation Continues to Increase Growth supported by both expansion of the active physician base and increasing implants per active physician PHYSICIAN ACTIVATION
Slide 15: Near-Term Product Enhancements to Drive Significant Growth
Expand into New Expand Within Launch Enter New Territories Existing Physicians New Products Channels Near-Term Product Enhancements to Drive Significant Growth Innovative products will continue to drive growth, increasing adoption and opening new market segments GROWTH DRIVER COMMERCIALISATION DESCR
Slide 16: Paddle Lead: Entering the Orthopedic / Neurosurgeon Market
Expand into New Expand Within Launch Enter New Territories Existing Physicians New Products Channels Paddle Lead: Entering the Orthopedic / Neurosurgeon Market O RT H O / N E U RO S U RG E O N S : 3 0 % O F U.S . M A R K E T 3 PADDLE LAUNCH For personal use only Competitive Early stage of LAUNCH UND
Slide 17: Clear Path to Gross Margin Expansion
Clear Path to Gross Margin Expansion Procurement, Enhancement and Innovation fundamental drivers of Gross Margin expansion G RO S S M A RG I N E X PA N S I O N PAT H WAY 1 GROSS MARGIN EXPANSION STRATEGY For personal use only GM % Targeting mid-60’s % ~70% of COGS is IPG + leads Next-Gen IPG Next-Ge
Slide 18: Saluda's Technology Addresses SCS Sales Force Efficiency Issues
Saluda’s Technology Addresses SCS Sales Force Efficiency Issues Lower reprogramming rates and automation creates differentiated sales force productivity S A L E S F O RC E P RO D U CT I V I T Y PAT H WAY CONTINUED PRODUCTIVITY DRIVERS For personal use only THERAPY DOES THE WORK Fully loaded rep cost
Slide 19: Why Saluda Is Different
Why Saluda Is Different Solving structural barriers that have limited SCS adoption and profitability THE TWO BIGGEST PROBLEMS IN SCS THE SALUDA ANSWER For personal use only 1 Durability of outcomes Outcomes that hold up over time Effectiveness fades — driving reprogramming & attrition 83% 90% ZERO R
Slide 20: Everything Changes. This Changes Everything.
For personal use only EVERYTHING CHANGES. THIS CHANGES EVERYTHING. Therapy as Dynamic as Life.