Making clinical

ultrasound EASIER to learn and

SIMPLER to use

2023 Annual Results

Year ended 31 December 2023 (audited)

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PURPOSE

to make ultrasound, the world's fastest, safest and cheapest imaging modality, easier to learn and simpler to use

VISION

enable ultrasound for everyone

STRATEGY

continue to build our range of ultra-realistic simulators to lead the world in hi-fidelity ultrasound training

follow clinicians into the scanning room to give them AI-driven tools that enable them to scan patients faster and better

be at the forefront of using AI to enable ultrasound scanning in primary care and ultimately at-home to enable ultrasound for all

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2023 summary

Financial highlights:

  • Group revenue grew by 11% to £11.2m (2022: £10.1m)
    • Clinical AI-related revenues trebled to £2.0m (2022: £0.7m)
    • Simulation revenues declined by 3% to £9.1m (2022: £9.4m)
  • Loss after tax decreased to £2.6m (2022: £3.0m)
  • Cash at 31 December 2023 of £3.0m (31 December 2022: £7.2m)

Operational highlights:

  • GE Healthcare's SonoLyst software launched as a standard feature on the new Voluson Expert 22 and 20 in Q4 2023
  • Liver images agreement signed with Dundee University in Q4 2023
  • ScanNav FetalCheck development programme announced for new gestational age AI product in Q4 2023
  • ScanTrainer Endometriosis simulator module released in Q2 2023

Post year end:

  • GE Healthcare's SonoLyst software launched as a standard feature on the new Voluson Signature 20
  • ScanNav FetalCheck to be used in trial funded by the Bill and Melinda Gates Foundation

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Making clinical

ultrasound EASIER

to learn and

SIMPLER to use

Imaging background

Since the discovery of X-Ray, medical technology has been advancing to provide images that help clinicians see inside the human body…

Of all available imaging modalities, X-Ray, MRI, CT etc.,

ultrasound is the fastest, cheapest, safest and its

diagnostic applicability in many areas is well recognized, but…

Unlike X-Ray, MRI, CT, ultrasound is a dynamic, real-time

modality where the skills of the operator are paramount

Our vision is to make ultrasound easier to learn and simpler to use by minimising this obstacle

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Classroom to Clinic

2014

A unique range of products in a growing market

6

Classroom to Clinic

2024

A unique range of products in a growing market

COMPACT for med schools

PLUS

includes

Pre-regulatory

In POC development

UK, EU and US

7

AI sales beginning to take-off

18

16

14

12

10

8

6

4

2

0

Cavendish forecast £15.6m

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Simulation Revenue

Clinical AI Revenue

2022 simulation

adjusted for £2m

one-off

IUG range £14-17m

2024

Over 1700sim systems soldinto over

800 institutions

c. 1800clinical AI products sold to date*

*Clinical AI products includes ScanNav PNB,

NeedleTrainer, ScanNav FetalCheck and SonoLyst

8

CLASSROOM SIMULATION

Making clinical

ultrasound EASIER

to learn and

SIMPLER to use

9

Training through ultra-realistic simulation

The foundation stone of our business

Simulation Revenue

14

Cavendish

forecast

12

10

8

c.14% CAGR

£9.4m less

one off £2m

Hospitals by region: USA c.6,000 UK. c.1,200 Europe c.15,000

Global teaching Schools 2,900

Estimated global simulation market

c.£105m

2022

6

4

2

0

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Over 1700systems

soldinto over 800

institutions

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Disclaimer

Intelligent Ultrasound Group plc published this content on 21 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 May 2024 14:28:03 UTC.