IDEXX Laboratories, Inc. · NASDAQ:IDXX
IDEXX Laboratories — VMX 2024 Investor and Analyst Session
30 slides from IDEXX Laboratories's conference presentation, Jan 15, 2024
Slide 1: VMX 2024 Investor and Analyst Session
CREATING CLARITY VMX 2024 Investor and Analyst Session January 15, 2024 © 2023 IDEXX Laboratories, Inc. All rights reserved.
Slide 2: 2023 VMX Investor and Analyst Session – IDEXX inVue Dx
2023 VMX Investor and Analyst Session – IDEXX inVue Dx™ Jay Mazelsky, Martin Smith, PhD Mike Erickson, PhD President & CEO EVP, Chief Technology Officer EVP, Point of Care & Telemedicine Introduction & Technology Product & Overview Insights Customer © 2024 IDEXX Laboratories, Inc. All rights reserve
Slide 3: Safe Harbor Disclaimer
Safe Harbor Disclaimer The following presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in the presentation include statements regarding (i) expectations, plans and timelines for the launch
Slide 4: IDEXX Innovation Drives Practice Productivity and Care Standards
IDEXX Innovation Drives Practice Productivity and Care Standards Increased demand for veterinary services Customers continue to work through capacity constraints + 21M U.S. Pet Population growth 2020-2022 * IDEXX Innovation increases 1 in 3 Pet parents find it more difficult to obtain veterinary car
Slide 5: IDEXX Solutions Deliver Exceptional Customer Value
IDEXX Solutions Deliver Exceptional Customer Value 0 Electronic Medical Records Metrics and Insights Pet Owner Engagement Clinical Workflow © 2024 IDEXX Laboratories, Inc. All rights reserved. 5
Slide 6: Transforming Ear Cytology, Blood Morphology and More
Transforming Ear Cytology, Blood Morphology and More… Revolutionary Workflow Results + Load-and-go in 10 min Expanded Insights + AI enabled © 2024 IDEXX Laboratories, Inc. All rights reserved. 6
Slide 7: © 2024 IDEXX Laboratories, Inc. All rights reserved.
© 2024 IDEXX Laboratories, Inc. All rights reserved. 7
Slide 8: IDEXX inVue Dx Expands Point of Care Opportunity
IDEXX inVue Dx™ Expands Point of Care Opportunity Global Incremental IDEXX Premium Instrument Placement Opportunity* 38k 218k + + + + + 100k ~174k ~ 20k over 80k 5-years International ~44k U.S. Total IDEXX inVue Dx™ Placement Catalyst ProCyte SediVue Total Opportunities * Placement opportunity figur
Slide 9: Martin Smith, PhD
Martin Smith, PhD Executive Vice President Chief Technology Officer
Slide 10: IDEXX Innovation has Driven Global Companion Animal Sector Development
IDEXX Innovation has Driven Global Companion Animal Sector Development IDEXX Cumulative R&D Investment Instrument Platform ($M, calendar years shown) Development 40% > $2 Billion Differentiated 30% Assay Development 70% – 80% New Product 30% 20% – 30% Lifecycle Customer-facing Software, Data and Con
Slide 11: IDEXX inVue Dx Enabled by 40 Years of Investment
IDEXX inVue Dx™ Enabled by 40 Years of Investment Technology Expertise Manufacturing © 2024 IDEXX Laboratories, Inc. All rights reserved. 11
Slide 12: IDEXX inVue Dx Leverages Differentiated IDEXX Capabilities
IDEXX inVue Dx™ Leverages Differentiated IDEXX Capabilities 10 Million Patient Global Network Deep AI Learning Software Sample Images of Pathologists Models Ecosystem © 2024 IDEXX Laboratories, Inc. All rights reserved. 12
Slide 13: Quantification, Classification and Interpretation in Seconds
Quantification, Classification and Interpretation in Seconds Deep-learning AI models deliver lab quality results in real-time environment © 2024 IDEXX Laboratories, Inc. All rights reserved. 13
Slide 14: IDEXX inVue Dx Images Provide Superior Quality and Clarity
IDEXX inVue Dx™ Images Provide Superior Quality and Clarity Red Blood Cell Heinz Bodies Visualization – Anemia and Toxin Exposure Traditional Slide Method IDEXX inVue Dx • Heinz bodies difficult to visualize • Heinz bodies easily visualized • Requires specialized secondary staining • No further stai
Slide 15: IDEXX inVue Dx Displays Cells in Their Natural 3-D State
IDEXX inVue Dx™ Displays Cells in Their Natural 3-D State …delivering images unable to be seen by the human eye under a microscope © 2024 IDEXX Laboratories, Inc. All rights reserved. 15
Slide 16: Technology for Life Strategy Drives Platform Menu Expansion
Technology for Life Strategy Drives Platform Menu Expansion 2024 Coming next Future Ear Swab Fine Needle Aspirate ‘Lumps and Bumps’ Blood Morphology + + + + + + + © 2024 IDEXX Laboratories, Inc. All rights reserved. 16
Slide 17: Mike Erickson, PhD
Mike Erickson, PhD Executive Vice President and General Manager Point of Care Diagnostics & Telemedicine
Slide 18: Expanding Real-time Insights at the Point of Care
Expanding Real-time Insights at the Point of Care 2014 2016 2020 2024 Catalyst One SediVue Dx ProCyte One IDEXX inVue Dx™ Technology Trusted Accuracy Ease of Use End-to-end Integration for Life Reference lab quality Intuitive, load and go Workflow optimization © 2024 IDEXX Laboratories, Inc. All rig
Slide 19: Customers See IDEXX inVue Dx as Game Changing
Customers See IDEXX inVue Dx™ as Game Changing Revolutionary Workflow “Eliminates making slides, which gives us High-value Menu time back into our day” Expanded Insights “Getting cytology results “It’s like having a quickly and accurately Pathologist inside in-hospital is a game changer” my analyzer
Slide 20: Making Slides is Time-consuming and Inconsistent
Making Slides is Time-consuming and Inconsistent Done by hand, time-consuming, inconsistent, and prone to contamination Slide reading is qualitative and user-dependent – a concern for veterinarians Lack of integration results in lost charges, no images captured in record or shared with owner © 2024
Slide 21: Novel Slide-free Workflow Gives Time Back to Practices
Novel Slide-free Workflow Gives Time Back to Practices Hands-on time Hands free Often interrupted, multiple slides created Collect Affix Spread Air dry Stain Air dry View Microscope sample sample cells slide slides again slide(s) ~10-20 Minutes for Prep Additional steps Same workflow Input Input Inp
Slide 22: Seeing Cells in Their Natural State Uncovers Valuable Insights
Seeing Cells in Their Natural State Uncovers Valuable Insights + Cell typing + 3D size and shape + Intracellular features + Quantification + Historical trending © 2024 IDEXX Laboratories, Inc. All rights reserved. 22
Slide 23: Established Diagnostic Categories with Unmet Needs
Established Diagnostic Categories with Unmet Needs Launch Menu Coming next 1 in 5 with ear issues* 2 in 3 abnormal CBCs*** 1 in 4 diagnosed with cancer**** + Ongoing menu expansion Technology for Life Ear Swab Blood Morphology Fine Needle Aspirate Lumps and Bumps ~19M Using microscope ** ~20M morpho
Slide 24: First Ever Comprehensive Hematology at Point of Care
First Ever Comprehensive Hematology at Point of Care + + + + + + + Established Integrated Deeper hematology clinical belief results insights © 2024 IDEXX Laboratories, Inc. All rights reserved. 24
Slide 25: IDEXX inVue Dx Expands the IDEXX Ecosystem
IDEXX inVue Dx™ Expands the IDEXX Ecosystem Results in VetConnect PLUS® Two-way Integration with PIMS IDEXX SmartService™ © 2024 IDEXX Laboratories, Inc. All rights reserved. 25
Slide 26: Delivering Faster Workflow Across IDEXX VetLab Suite
Delivering Faster Workflow Across IDEXX VetLab® Suite 2X Faster Today Second-half 2024 © 2024 IDEXX Laboratories, Inc. All rights reserved. 26
Slide 27: IDEXX inVue Dx Platform Delivers Broad-based Benefits
IDEXX inVue Dx™ Platform Delivers Broad-based Benefits Direct Benefits Solving unmet needs supports attractive instrument and consumable economics Platform Extensibility Technology for Life innovation drives economic value expansion Multiplier Benefits CAG Dx utilization growth and new customers Pro
Slide 28: Platform Extensibility Drives Incremental Economic Value
Platform Extensibility Drives Incremental Economic Value IDEXX Instrument Economic Value (EV)* 2X Expansion** + New Menu + Utilization Future Expansion + New Menu + Utilization Near-term EV + Ear Swab + Blood Morphology + FNA ‘Lumps and Bumps’ Catalyst SediVue IDEXX inVue DxTM * Instrument Economic
Slide 29: Extensible Platform with Long-term Runway for Growth
Extensible Platform with Long-term Runway for Growth Revolutionary Workflow + Slide-free load-and-go, results in 10 minutes + Expanded IDEXX ecosystem Expanded Insights + AI trained by IDEXX Pathologists + High value menu with Technology for Life Compelling Opportunity + Significant runway for place
Slide 30: Creating Clarity Q&A
CREATING CLARITY Q&A
IDEXX Laboratories — VMX 2024 Investor and Analyst Session on 6ix