CytoSorbents Corporation · NASDAQ:CTSO
CytoSorbents — FY2018 Earnings Presentation
13 slides from CytoSorbents's earnings presentation, Mar 7, 2019
Slide 1: CytoSorbents Q4 2018 and Full Year 2018 Earnings Conference Call
CytoSorbents Corporation (NASDAQ: CTSO) A Leader in Critical Care Immunotherapy Q4 2018 and Full Year 2018 Earnings Conference Call March 7, 2019
Slide 2: Conference Call Participants
Conference Call Participants Dr. Phillip Chan, MD, PhD Chief Executive Officer and President Vincent Capponi, MS Chief Operating Officer Kathleen Bloch, MBA, CPA Chief Financial Officer Dr. Eric Mortensen, MD, PhD Chief Medical Officer Dr. Christian Steiner, MD Vice President of Sales and Marketing
Slide 3: Safe Harbor Statement
Safe Harbor Statement Statements in this presentation regarding CytoSorbents Corporation and its operating subsidiaries CytoSorbents Medical, Inc and CytoSorbents Europe GmbH that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actu
Slide 4: Operational Highlights
Operational Highlights • 56,000+ CytoSorb treatments delivered, from 35,000 a year ago • Record annual total revenue of $22.5M and product sales of $20.3M with a mix of strong direct and distributor/partner activity in a total of 53 countries • Blended product gross margins of 74% for 2018, up 300 b
Slide 5: Clinical Trial Update
Clinical Trial Update • U.S. REFRESH 2 Pivotal Trial • 400 patient RCT PMA multi-center adaptive trial targeting reduction of post-op AKI using CytoSorb during complex cardiac surgery • 56 patients now enrolled with recent increase to 21 initiated clinical trial sites, and another 8 undergoing start
Slide 6: 2018 Financial Highlights
2018 Financial Highlights med CVtOSorbents forking to Save Lives Through Blood Purification
Slide 7: Q4 2018 Comparative Revenue Results
Q4 2018 Comparative Revenue Results Quarter Ended Quarter Ended Dec. 31, 2018 Dec. 31, 2017 % Incr. Product sales $ 5,470,784 $4,296,047 27% Grant income 610,061 350,664 74% Total revenue $ 6,080,845 $ 4,646,711 31% • Q4 2018 CytoSorb® sales were $5.5M, a 27% increase over $4.3M in Q4 2017 • Total r
Slide 8: Comparative Annual Revenue Results
Comparative Annual Revenue Results Year Ended Year Ended Dec. 31, 2018 Dec. 31, 2017 % Incr. Product sales $20,252,383 $13,381,853 51% Grant income $2,251,525 $1,768,901 27% Total revenue $22,503,908 $ 15,150,754 49% • 2018 Product sales were $20.3M, a 51% increase over 2017 product sales of $13.4M
Slide 9: Quarterly Product Sales
Quarterly Product Sales 26 Consecutive Quarters of Year-over-Year Sales Growth $6,000,000 $5,470,783 CytoSorb® Product Sales $5,102,748 $5,245,556 $5,000,000 $4,433,296 $4,296,047 $4,000,000 $3,448,661 $3,041,012 $3,000,000 $2,596,133 $2,612,801 $1,852,670 $2,000,000 $1,852,670 $1,597,449 $1,495,590
Slide 10: Historical Annual Product Sales
Historical Annual Product Sales Over the past three years, the compound growth rate of return (“CAGR”) on product sales was 71% Historical Annual Product Sales $20,231,253 $20,000,000 Trend Line $15,000,000 $13,381,853 Product Sales Trend Line $10,000,000 $8,206,036 $5,000,000 $4,043,819 $3,135,387
Slide 11: Working Capital and Cap Table
Working Capital and Cap Table Working Capital as of 12/31/2018 12/31/17 12/31/16 12/31/15 12/31/14 12/31/13 12/31/12 Current Assets: Cash and short-term investments $22,369 $ 17,322 $ 5,245 $ 7,509 $ 5,550 $ 2,183 $ 1,729 Grants and accounts receivable, net 3,943 2,206 1,433 649 819 453 51 Inventori
Slide 12: Guidance
Guidance • In the short-term, we expect that Q1 2019 product sales will exceed Q1 2018 product sales • In 2019, we expect to achieve blended product gross margins of 80% on a quarterly basis • Longer-term, we are targeting significant and sustained sales growth and GAAP profitability • We believe th
Slide 13: Q&A Session
Q&A Session CytoSorbents Corporation NASDAQ: CTSO Investor Relations: Jeremy Feffer (212) 915-3820 [email protected] A Leader in Critical Care Immunotherapy 13