Sofwave Medical Ltd. · TASE:SOFW
Sofwave Medical — Q2 2023 Earnings Presentation
23 slides from Sofwave Medical's earnings presentation, August 2023
Slide 1: Investor Meeting August 2023
Investor Meeting August 2023 Breakthrough Ultrasound For Non-Invasive Skin Tightening
Slide 2: Disclaimer
DISCLAIMER This presentation (the “Presentation”) is for informational purposes only and does not constitute or form any part of any offer or solicitation to buy or subscribe for securities of Sofwave Medical Ltd. (the “Company” or “Sofwave”) and should not be regarded as a recommendation or an opin
Slide 3: Investor meeting presenters
Investor meeting August 2023 Presenters: • Shimon Eckhouse, Co-Founder and Chairman • Lou Scafuri, CEO • Assaf Korner, CFO | 3
Slide 4: Q2 2023 in Numbers
Q2 2023 in Numbers Q2/23 $12.4M H1/23 $22.8M Q2/23 $3.3M Revenues Revenues Recurring Revenues +53% YoY Growth +67% YoY Growth +100% YoY Growth 75% GM Over 155,000 $25.3M Cash As of June 30, 2023 Non-GAAP Treatment (inception to date) | 4
Slide 5: Current Market Conditions
Current Market Conditions • Global market conditions remain favorable despite macroeconomic and political concerns • Market demand continues to grow in the noninvasive skin tightening segment however expensive invasive plastic surgery procedures appear to be slowing • Sofwave’s ROI offers significan
Slide 6: Positioned for Continued Growth
Positioned for Continued Growth Addressing a $2.3B Total Addressable Market (TAM) Investment in clinical studies leads to In-house digital team with focused successful expansion of FDA cleared, non- efforts to grow digital presence and invasive, eyebrow, chin, and neck “lift” and bran awareness has
Slide 7: Gigi Leung, HK Singer and Actress
Gigi Leung, HK Singer and Actress | 7
Slide 8: 2023: Major Strategic Accomplishments to Date
2023: Major Strategic Accomplishments to Date • FDA Clearance for Precise Applicator • FDA Clearance for Sofwave SmartTM IoT (wireless) Module • Regulatory Approval in Mexico • Opened a new subsidiary in the UK • Second US patent approval • US and APAC Telemarketing Campaign and Social Growth to dri
Slide 9: Solid Recognition by Industry Expands across Digital Channels
Solid Recognition by Industry Expands across Digital Channels 2023 Industry Awards Best Non-Invasive Best in Skincare: Sofwave - Cellulite Treatment Ultrasound Treatment Best Latest in Ultrasound Best Game Changer Safety in Beauty Best Professional-Grade Future of Beauty Innovation and Treatments Aw
Slide 10: Brand Awareness Rapidly Expanding
Brand Awareness Rapidly Expanding 516K Followers across all channels New Campaign: Got Lift? Consumer campaign featuring KOLS and patients has engagement from over 30K accounts on Instagram (2 weeks performance)
Slide 11: Global Channels Continue to Grow: Sofwave Partners in 36 Countries
Global Channels Continue to Grow: Sofwave Partners in 36 Countries
Slide 12: Creating New Clinic Revenue Streams by Investing in Clinical Studies and FDA Clearances
Creating New Clinic Revenue Streams by Investing in Clinical Studies and FDA Clearances
Slide 13: Acne – Over Ten Billion $ Market
Acne – Over Ten Billion $ Market | 13
Slide 14: Acne – Over Ten Billion $ Market
Acne – Over Ten Billion $ Market | 14
Slide 15: SofWave's SUPERB Technology effective on active acne
SofWave’s SUPERB™ Technology effective on active acne Baseline 3 months FU Baseline 3 months FU | 15
Slide 16: Financial Highlights
oS eT 1 Oe Financial Highlights
Slide 17: Revenue Growth
Revenue Growth Q2 Revenue Growth Annual Growth $14.0 $40.0 $12.4 $35.6 $12.0 $35.0 $30.0 $10.0 $8.1 $25.0 $8.0 $21.8 $6.1 $20.0 $6.0 $15.0 $4.0 $10.0 $2.0 $4.3 $0.6 $5.0 $0.0 $0.0 2020 2021 2022 2023 2020 2021 2022 Continued strong YoY revenue increase with 53% growth in Q2/2023 and 66% in H1/2023 |
Slide 18: Q2/2023 Geographical Split
Q2/2023 Geographical Split 23% 3% 11% 63% North America EMEA APAC LATAM New regulatory approvals in Brazil and Mexico increase Latin America portion of global revenues | 18
Slide 19: Financial Highlights Q2 2023 – P&L
Financial Highlights Q2 2023 – P&L ($’K) For the 3 months ended Excluding Stock Based Compensation June 30, Stock Based Compensation 2023 2022 2023 2022 2023 2022 Revenues 12,380 8,065 - - 12,380 8,065 • GAAP and Non-GAAP Operating loss continues to COGS 3,141 2,094 41 53 3,100 2,041 narrow and decr
Slide 20: Financial Highlights H1 2023 – P&L
Financial Highlights H1 2023 – P&L ($’K) For the 6 months ended Excluding Stock Based Compensation June 30, Stock Based Compensation 2023 2022 2023 2022 2023 2022 Revenues 22,787 13,651 - - 22,787 13,651 • GAAP and Non-GAAP Operating loss continues to COGS 5,877 3,581 83 134 5,794 3,447 narrow and d
Slide 21: Financial Highlights – BS
Financial Highlights – BS ($’K) June 30, 2023 Dec 31, 2022 Cash and Cash Equivalents 25,307 32,005 Trade Receivables 6,038 4,502 Strong cash position with $25.3M as Other Receivables 1,884 1,396 of June 30, 2023 Inventory 4,659 4,026 Total Current Assets 37,888 41,929 Continuous major investment in
Slide 22: Investment Highlights
Investment Highlights Sofwave is delivering the next-generation patented energy Significant recurring revenue; over 20% of total revenue; based non-invasive aesthetic skin treatments disrupting an over 150,000 treatments completed industry with outdated solutions Significant brand awareness growing
Slide 23: Q&A
Q&A