Cardiovascular Systems, Inc....2020/06/10 · Offering Summary 3 Issuer: Cardiovascular Systems,...
Transcript of Cardiovascular Systems, Inc....2020/06/10 · Offering Summary 3 Issuer: Cardiovascular Systems,...
©2020 Cardiovascular Systems, Inc. All Rights Reserved.
Cardiovascular Systems, Inc.June 10, 2020
Safe HarborFORWARD LOOKING STATEMENTS
This presentation contains forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933, as amended, or the “Securities Act”, and
Section 21E of the Securities Exchange Act of 1934, as amended, or the “Exchange Act”, which are subject to the safe harbor created by those sections. These forward-looking
statements include, but are not limited to, statements in this presentation regarding CSI’s strategy and goals; growth; future financial measurements and investments;
shareholder value; product development plans, milestones and introductions; geographic expansion; clinical trials and evidence; professional education efforts; market
estimates and opportunities; and developments, goals and expectations relating to the COVID-19 pandemic and the recovery therefrom. Forward-looking statements are only
predictions and are not guarantees of performance. These statements are based on CSI management’s beliefs and assumptions, which in turn are based on their interpretation
of currently available information.
These statements involve known and unknown risks, uncertainties and other factors that may cause CSI’s results or CSI’s industry’s actual results, levels of activity,
performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. CSI may not actually achieve the plans,
intentions or expectations disclosed in these forward-looking statements and you should not place undue reliance on our forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties that could cause CSI’s actual results, performance or achievements to differ materially from those expressed or
implied by the forward-looking statements, including, without limitation, the risks set forth in our filings with the Securities and Exchange Commission.
CSI’s actual future results may be materially different from what CSI expects. You should not place undue reliance on these forward-looking statements. You should assume
that the information contained in this presentation is accurate only as of the date of this presentation. Except as required by law, CSI assumes no obligation to update these
forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new
information becomes available in the future. CSI qualifies all of the information presented in this presentation, and particularly the forward-looking statements, by these
cautionary statements.
FINANCIAL INFORMATION
This presentation includes calculations or figures that have been prepared internally and have not been reviewed or audited by CSI’s independent registered accounting firm.
Use of different methods for preparing, calculating or presenting information may lead to differences, which may be material.
NON-GAAP FINANCIAL MEASURES
This presentation uses Adjusted EBITDA, a non-GAAP financial measure, to supplement financial information presented in accordance with GAAP. There are limitations to the
use of non-GAAP financial measures presented in this presentation. For example, non-GAAP financial measures may not be comparable to similarly titled measures of other
companies. Other companies may calculate non-GAAP financial measures differently than the CSI, limiting the usefulness of those measures for comparative purposes. For
further information on the use of non-GAAP measures, please see slide 30.
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Offering Summary
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Issuer: Cardiovascular Systems, Inc. (NASDAQ: CSII)
Base Offering Size: $125 million (100% Primary)
Overallotment Option: 15% (100% Primary)
Use of Proceeds:
CSI intends to use the net proceeds from this offering for working capital and general corporate purposes,
which may include expansion of marketing programs, international expansion, new product development,
clinical studies and publications, acquisitions, investments, or general working capital needs
Lock-up Period: 90 days for the Company, directors and executive officers
Bookrunners: Barclays, SVB Leerink
Expected Pricing: June 9, 2020
Our Mission
Saving Limbs, Saving Lives Every Day
2 Million+Patients with Critical
Limb Ischemia (CLI)1
160,000Annual Amputations
in the U.S.2
370,000Deaths Annually From
Coronary Artery
Disease in the U.S.3
525,000High Risk or Complex
High Risk Procedures
Annually in the U.S.4
Focused on Complex Peripheral and Coronary Artery Disease
4
1. Yost ML, CLI U.S. Supplement, Beaufort, SC. 2016 as presented at NCVH 2017
2. Allie DE, Hebert CJ, Ingraldi A, Patlola RR, Walker CM. 24-Carat Gold, 14-Carat Gold, or Platinum Standards in the Treatment of Critical Limb Ischemia: Bypass Surgery or Endovascular Intervention? J Endovsc Ther. 2009;16(Suppl I):I134–I146.
3. American Heart Association - Heart Disease and Stroke Statistics- 2018 Update
4. CSI estimates
CSI Today Building on our orbital atherectomy foundation
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Coronary Peripheral
z
Company ProfileDeveloping innovative solutions for treating peripheral & coronary arterial disease
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800+Employees and a highly
experienced leadership team
#1U.S. market leader in calcified
peripheral and coronary atherectomy
5,700+Real-world patients studied through
clinical studies as of FY19
80,000+ Patients treated annually
200+ Patents
1,700+U.S. customers; hospital and
office based labs
200 U.S. direct sales representatives
125 U.S. clinical specialists
Experienced and Talented TeamAverage Experience in Medical Technology: 20 Years
Organizational Values: Accountability, Community, Courage, Excellence, Integrity and Velocity
Sandra M. Sedo, MBA,
JD
Chief Compliance Officer
Alexander Rosenstein,
JD
General Counsel &
Corporate Secretary
Scott R. Ward, MS, MBA
Chairman,
President and CEO
Rhonda J. Robb, MBA
Chief Operating Officer
Stephen J. Rempe
VP, Human Resources
Ryan D. Egeland, MD
PhD
Chief Medical Officer
John M. Hastings, MBA
VP, Manufacturing
& Operations
David S.
Whitescarver, JD
VP, Corporate Development
& Intellectual Property
Jeffrey S. Points, MBA,
CPA
Chief Financial Officer
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Strong Financial Platform for Profitable Growth
$178
$205$217
$248
FY16 FY17 FY18 FY19
12%CAGR
(FY16-FY19)
80% 81% 82% 81%80%
FY16 FY17 FY18 FY19 Q3FY20
80%
($39)
$13
$16
$14
FY16 FY17 FY18 FY19
+$53M
$61
$108$117
$123
$107
FY16 FY17 FY18 FY19 Q3FY20
+$47M
Revenues Gross Margin Adjusted EBITDA* Cash Balance**
8
$ in millions
*Adjusted EBITDA is a non-GAAP metric. For a reconciliation to the nearest GAAP measure, net income (loss), please see slide 30.
**Cash, cash equivalents and marketable securities
Revenue Mix / Impact of COVID on Q3 FY20 Growth
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WW Peripheral Revenue
US Peripheral$42.1
US Coronary$16.0
International$3.1
Q3 FY20 Revenue: $61.2 million
WW Coronary Revenue WW Total Revenue
10%12%
10%8%
(6%)
Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20
25% 24%27%
30%
2%
Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20
14%15% 15% 14%
(3%)
Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20
• Q3 revenue impacted $10-11 million by COVID
• Q3 on plan prior to March 8: +10.7% atherectomy growth
Steady improvement in weekly
orders during April and May
• March 9-31 daily orders decreased 25% vs. prior year
• April orders decreased 53% vs. prior year
(Y-o-Y %)
Key Goals During Coronavirus Pandemic
• No material disruption to manufacturing or supply chain
• Sourced and distributed PPE to field sales employees
• Supporting cases in person or virtually where possible
Assure continued ability to serve customers and support patients
• Safeguarded facilities and office-based employees are telecommuting
• Deployed screen, test, trace and isolate protocols
• No layoffs or furloughs
Protect health of employees while retaining the strength and capacity of business
• Amended RCF, increased borrowing capacity to $50M
• Reduced forecasted fiscal Q4 operating expenses by 15% vs. LY
• Anticipate an acute, but short term impact in fiscal Q4
• Steady improvement observed in April and May
Ensure business continuity
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Driving Future GrowthBroaden Our Value Streams
Financial Goal: Accelerate Profitable Revenue Growth
Financial strength and the talent to execute
Grow and Protect
the Core Business
Innovation Drives
Incremental Growth
Global Expansion Accelerates
Growth of Core Business
Sustain Market Leadership
Attractive and Consistent Growth
in Core Business
Expand Product Portfolio and
Addressable Markets
Drive higher revenue per orbital
atherectomy procedure
Steady Cadence of Commercial
Launches
Capturing Market Share and
Driving Market Development
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Expansion of the Complex Coronary Product OfferingDrives Incremental Revenue Opportunity Per Case
Coronary Diamondback 360®
with GlideAssist®Sapphire® Expansion
ScoreFlex NC
Sapphire® Balloons
Teleport® Microcatheter
Launched FY19Launched FY19
Sapphire SC II PRO 1.0-4.0mm
Sapphire NC Plus 2.0-4.0mm
Launched FY19
FY20 Launches
• Sapphire SC II PRO 1.0mm OTW
• Sapphire NC Plus 4.5-5.0mm
Expected Launch FY21
Adding Essentials of
the Complex PCI Toolkit
Increasing the Clinical Utility
of the Sapphire Portfolio in
the Near-Term
Continuing to Innovate around
the Complex Patient Long-TermViperWire Advance® with Flex Tip
Launched Q1 FY20
Represents $800-$1,000 of
incremental revenue
opportunity
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Expansion of the Peripheral ToolkitIncreasing Revenue Opportunity Per Case Launching in FY21
Radial PAD Products: $800-$1,000/OAS Procedure
Extended Length:
Exchange Catheters
PTA Balloons
Radial Access Sheaths
Guidewires
Exchange Catheters
PTA Balloons
Access Sheaths
Guidewires
WIRION Embolic Protection
System
PAD Products: $1,600-$1,800/OAS Procedure
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WIRION® Embolic Protection SystemSupporting Our Commitment to Complex Patients
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• Easier to use and more versatile than competing EPDs with
clearance for use with any peripheral atherectomy device and any
0.014” guidewire
• Demonstrated safety and non-inferiority to pre-specificed
performance goals in capturing debris with low adverse event rates
in WISE LE study
• Platform enables future innovation for potential BTK and Radial
applications
Share-Taking Differentiated Technology
Commercialization expected in FY21 following completion of the manufacturing transfer from Gardia Medical
Broadens value streams in $50M market, 50,000 devices used in the U.S.
Complements CSI’s future directional atherectomy platform
Provides assurance to physicians not using atherectomy today due to
concern of distal emboli
Synergistic with CSI Strategy and Mission
Protecting Patients During PVIs
Embolic debris can be associated with all types of peripheral vascular
intervention procedures
EPDs are typically used when treating vessels located above the knee with
long lesions, high plaque burden, and poor run off
Can provide additional assurance when treating complex peripheral
interventions and lesions
Supporting Complete Leg RevascularizationExchangeable Series with GlideAssist® – Reduces Rehospitalization
Patient and economic benefits with more efficient procedures aligned to market
dynamics
Future Portfolio: New 1.0mm crown for small vessel / below-the-ankle lesions
and a larger crown intended for larger vessels like the common femoral and
iliac arteries
GlideAssist to facilitate tracking, repositioning and removal of OAD through
challenging anatomy
Exchangeable cartridges with different catheter lengths and crown options to
optimally treat patients with multi-level disease (seen ~50% of the time)
within the same procedure
Ease-of-Use Enhancements to Handle: Backloadable system facilitating easier
wire exchanges and improved tactile feel
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Percutaneous Ventricular Assist Device (pVAD) SystemMulti-Generational Platform Highly Synergistic with Our Strategy and Competency
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• Millennium Research Group (2017 December) Medtech360 Market Analysis – Cardiac Assist Devices– US – 2018
Entering a High Growth pVAD Market*Generation 1 Overview
IDE clinical studies planned to highlight
procedural safety and perfusion
metrics/endpoints
* Includes Complex PCI and Cardiogenic Shock
$0
$300
$600
$900
$1,200
$1,500
$1,800
FY19 FY23 FY27
$ M
illio
ns
16% CAGR
Recent Accomplishments / Status
Multiple animal studies completed successfully
Pre-submission meetings completed and underway with the FDA
First-in-human in FY21
• Leverages CSI core
competency in motor control
and spinning cables
• Easy setup and use
• Flow: 3-5 LPM
• Crossing Profile: 10-14 Fr
• Catheter Profile: 6-8 Fr
• Improved deliverability
• Physician control in the
sterile field
• Simplified touch
screen display
• Compact console design
(<15 lbs.)
Excellence in Quality and ManufacturingScalable and Continuous COGS Reductions
Manufacturing
Initiatives
Sourcing and
Supply Chain
Volume driven overhead leverage
Scalable and
continuous reductions
to protect margins
from ASP declines
Labor productivity
LEAN continuous improvement
Material cost reductions
Vertical Integration
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Consistent Reimbursement
FacilityInpatient/
OutpatientProcedure 2020 Reimbursement % Change from 2019
Hospital Inpatient PAD $11,392 - $20,532* 3.1% - 3.2%
Hospital Inpatient CAD $10,534 - $19,858** 2.8% - 0.4%
Hospital Outpatient PAD/CAD $9,907 - $15,938 2.5% - 3.8%
Non-Hospital Outpatient/OBL PAD (ATK) $11,582 - $14,891 (6.9)% - (7.1)%
Non-Hospital Outpatient/OBL PAD (BTK) $11,626 - $14,476 (6.6)% - (5.0)%
$0
$5,000
$10,000
$15,000
$20,000
PAD OBL
PTA Ath/PTA
Stent Ath/Stent
$0
$5,000
$10,000
$15,000
$20,000
PAD Hospital Outpatient
PTA Ath/PTA
Stent Ath/Stent
$0
$5,000
$10,000
$15,000
$20,000
CAD Inpatient
PCI PCI/BMS PCI/DES
$0
$5,000
$10,000
$15,000
$20,000
CAD Outpatient
PTCA Ath/PTCA
Stent Ath/Stent
MS-DRG 246, 247, 248, 249, 250, 251, 252, 253, 254; CPT® Codes 37225, 37227, 37229, 37231, 92924, 92933; C-APCs 5193,5194;
HCPCS Code C9602
Payment amounts based on National Medicare Averages and will vary by provider.
CMS released IPPS Proposed Rule for FY21 on May 11, 2020
*Peripheral atherectomy procedures increase 2.8%-7.1%
**Coronary atherectomy procedures increase 1.2%-6.1%18
LIBERTY 360 Clinical StudyEvaluating long-term clinical and economic outcomes in patients with symptomatic PAD
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Prospective, Observational, Study to Evaluate
Clinical and Economic Outcomes in Patients
Treated for PAD: 1,204 patients at 51 sites
OAS Sub Study: 503 patients
Freedom from Major Amputation on Target Limb
at Three Years:
RC 2-3: 100% RC 4-5: 95.3% RC 6: 88.6%
Mean Index Procedure Cost of $11,621
RC2-3 RC4-5 RC6
Survival Time (Days)
Su
rviv
al P
rob
ab
ility
ECLIPSE Trial - Enrollment paused due to COVID-19Generating Level One Evidence to Impact Guidelines
2000Patients with Severely
Calcified Lesions
2nd generation DES implantation
and optimization
2nd generation DES implantation
and optimization
1. Post-PCI in-stent MSA by OCT (N=~500 in imaging sub-study)
2. 1-year TVF (all subjects)1o Endpoints
2o Endpoints 1. Procedural Success: Successful stent delivery (all subjects)
2. Strategy Success: Procedural success without crossover
1.25 mm Classic Crown followed by
balloon pre-dilation
Orbital Atherectomy Strategy
Conventional and/or specialty balloons
per operator discretion
Conventional Angioplasty Strategy
Principal Investigators
Study Chairman
Randomize
1:1
Ajay Kirtane, MD; Philippe Généreux, MD;
Gregg W. Stone, MD
~500 subjects in OCT cohort
OAS >1 mm2 superior MSA vs. POBAMSA
All subjects
OAS >5% reduction in TVF vs. POBATVF
Primary Endpoints
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Global Distribution Network
CSI Direct Sales OrbusNeich Medikit
St. PaulCorporate Headquarters
• ~ 800 employees
• United States direct sales force includes
~200 sales reps and ~125 clinical specialists
TokyoCorporate Headquarters
• ~ 1,000 employees
• Exclusive distributor for OAS in Japan
Hong KongCorporate Headquarters
• ~ 600 employees
• Develops, manufactures and distributes vascular
intervention devices in more than 60 countries
• Exclusive distributor for OAS outside U.S. and Japan
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Partnerships to Expand Orbital Atherectomy Across the Globe
China
Canada
Southeast Asia
Middle East
Europe
Japan
Coronary Peripheral
A Steady Cadence of New Geographic Launches
FY19FY23FY23
FY19 FY24+
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Coronary CE Mark Dossier Remains Under Active Review
Cardiovascular Systems, Inc. Creating Shareholder Value
Leveraging a
Strong Core Business
A Compelling
Growth Strategy
Creating
Competitive Advantage
Financially Strong
with the Team and
Talent to Win
Expanding into
new geographic markets
Driving market leading
performance in orbital
atherectomy
Developing an innovative
portfolio of new products
Positive cash flow, strong
cash position and no
long-term debt
Sustaining double digit
growth
with strong gross margins
Positioned to invest
in organic growth
A Mission driven organization
with the leadership and
talent to succeed
Innovation and robust
medical evidence
High quality
products, services
and relationships
Medical education
and superior clinical
support
Serving large and
growing markets
Proprietary
core technology
Improving outcomes for
complex coronary and
peripheral artery disease
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©2020 Cardiovascular Systems, Inc. All Rights Reserved.
Appendix
US Peripheral$42.1
US Coronary$16.0
US Peripheral US Coronary International
US Peripheral revenue declined 6%
Q3 Revenues of $61.2 Million3% Decrease
US Coronary revenue declined 2%
International grew 26%
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• Units sold decreased 6% as COVID-19 negatively impacted
procedure volumes
• Hospital revenue decreased 8%
• OBL revenue decreased 4%
• Units sold decreased 9% as COVID-19 negatively impacted
procedure volumes
• Support product revenue increased 124%
• Coronary Classic and ViperWire Flex Tip in Japan
• OAS launched in 13 countries OUS to-date
($ in millions)
Q3 FY20 Revenue Breakdown
International
$3.1
Steady, Asymmetric Recovery
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• Below the knee – CLI will recover the quickest; no backlog
• Above the knee Claudicant segment recovers and backlog is
addressed as patient confidence is restored over 4-6 months
• Slow, gradual recovery over 6 months in Coronary procedures
CSI Revenue Mix: PAD 70% & CAD 30%
• Care of CLI patients in the Hospital setting is leading the way
• Patient referral channels for claudicant and coronary patients will
be restored over the next few months
• C19 may be catalyst to accelerate PAD patient migration to OBL
Site of Service: Hospital 80% & OBL 20% of Accounts
• Q1FY21 procedures will be below normal
• Q2FY21 procedures could return to a normal pace assuming that
elective procedure volumes generally normalize, patient confidence
improves, referral pipelines are restored and cath lab capacity
returns to normal
Key Assumptions
CSI Procedure Recovery by State May 29, 2020
Near-term Financial Commentary
• CSI withdrew fiscal 2020 financial guidance on April 1, 2020 due to the impact of COVID-19 on
US procedure volumes
• Our April US customer orders declined 53% vs. LY
• Several factors may increase or decrease our procedure volumes during fiscal Q4, including
developments relating to social restrictions and government restrictions on elective and semi-
elective cases, level of patient anxiety, availability of PPE, cath lab and workforce capacity and
sales rep access to hospitals
• We do not expect hospitals and OBLs to replenish their inventories in fiscal Q4
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Cardiovascular Systems, Inc. Timeline
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Orbital Atherectomy
Device Designed
Cardiovascular
Systems, Inc. name change
1997
2003
2007
2009
2010
2013
2015
2016
2017
2018
2019
Peripheral FDA
clearance secured
CSI goes public
(NASDAQ: CSII)
First patient enrolled
in Compliance 360
clinical trial
First patient enrolled
in Calcium 360
clinical trial
First patient enrolled
in Orbit II coronary
clinical trial
Achieved $100 million
annual revenue
Coronary FDA
approval secured
First patient enrolled in
LIBERTY 360 clinical trial
Treated 33,390 patients
with orbital atherectomy
devices
CSI moves into
new state of the art
headquarters located
in St. Paul, MN
CSI Chairman Scott
Ward named President
and CEO
Achieved $200 million
in annual revenue
Enrolled first subject in
ECLIPSE Coronary
Clinical Trial
Rhonda Robb named COO
First international commercial
launch of coronary device (Japan)
Delivered first fiscal year
of profitability
Shared 5-year strategic plan
to broaden product offering,
expand internationally and
accelerate growth
Treated >70,000 patients with
orbital atherectomy devices
First patients treated in SE Asia
and Europe
First patients treated
in Middle East with
coronary device
Shturman Cardiology
Systems, Inc. founded
1989
Trial Size Importance
PAD
LIBERTY 360° (3-year Data) n=1,204• “All-comers” trial, any treatment option
• Nearly 700 Rutherford Class 4-6 patients enrolled
OPTIMIZE (Enrollment Complete) n=66• OAS + DCB vs. DCB alone
• Calcified below-the-knee lesions
OASIS, CONFIRM series, TRUTH,
CALCIUM 360, and COMPLIANCE 360n=3,359
• High rates of procedural success and durability
• Low adverse events/bail-out stenting
CAD
ECLIPSE (Enrollment Began March 2017) n=2,000
• Largest randomized trial to study coronary atherectomy for calcified
coronary lesions
• OAS + DES vs. angioplasty (including cutting/scoring balloons) + DES
• Currently paused due to Covid 19
ORBIT II (3-year Data) n=443 • High freedom from revascularization resulting in economic benefits1,2
COAST (1-year Data) n=100• Supported approvals of Coronary OAS in U.S. and Japan
• Japan commercialization began in FY18
Leadership in Medical Evidence
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600+Physicians
5,700+Patients
~8,000Lesions
1. Lee M, et al, Orbital atherectomy for treating de novo, severely calcified coronary lesions: 3-year results of the pivotal ORBIT II trial, Cardiovasc Revasc Med (2017), http://dx.doi.org/10.1016/j.carrev.2017.01.011
2. L.P. Garrison Jr. et al., Cardiovascular Revascularization Medicine 18 (2017) 86–90
Non-GAAP Financial MeasuresTo supplement CSI's consolidated condensed financial statements prepared in accordance with GAAP, CSI uses a non-GAAP financial measure referred to as "Adjusted EBITDA" in this presentation.
Reconciliations of this non-GAAP measure to the most comparable U.S. GAAP measure for the respective periods can be found in the following table. In addition, an explanation of the manner in which
CSI's management uses this measure to conduct and evaluate its business, the economic substance behind management's decision to use this measure, the substantive reasons why management
believes that this measure provides useful information to investors, the material limitations associated with the use of this measure and the manner in which management compensates for those limitations
is included following the reconciliation table.
Use and Economic Substance of Non-GAAP Financial Measures Used by CSI and Usefulness of Such Non-GAAP Financial Measures to Investors
CSI uses Adjusted EBITDA as a supplemental measure of performance and believes this measure facilitates operating performance comparisons from period to period and company to company by factoring out potential differences caused by
depreciation and amortization expense and non-cash charges such as stock based compensation. CSI's management uses Adjusted EBITDA to analyze the underlying trends in CSI's business, assess the performance of CSI's core operations, establish
operational goals and forecasts that are used to allocate resources and evaluate CSI's performance period over period and in relation to its competitors' operating results. Additionally, CSI's management is evaluated on the basis of Adjusted EBITDA
when determining achievement of their incentive compensation performance targets.
CSI believes that presenting Adjusted EBITDA provides investors greater transparency to the information used by CSI's management for its financial and operational decision-making and allows investors to see CSI's results "through the eyes" of
management. CSI also believes that providing this information better enables CSI's investors to understand CSI's operating performance and evaluate the methodology used by CSI's management to evaluate and measure such performance.
(in thousands)Year Ended June 30
2016 2017 2018 2019
Net income (loss) $(56,024) $(1,792) $1,712 $(255)
Less: Other (income) and expense,
net(145) 164 390 (760)
Less: Provision for income taxes 92 86 132 190
Income (loss) from operations (56,077) (1,542) 2,234 (825)
Add: Stock-based compensation 12,977 10,354 10,302 11,266
Add: Depreciation and amortization 3,917 4,135 3,934 3,446
Adjusted EBITDA $(39,183) $12,947 $16,470 $13,887
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Investor Contact:
Jack Nielsen
651-202-4919
CSI®, Diamondback®, Diamondback 360®,
GlideAssist®, ViperWire®, WIRION® and
ViperWire Advance® are trademarks of
Cardiovascular Systems, Inc.
© 2020 Cardiovascular Systems, Inc.
OrbusNeich®, Teleport® and Sapphire® are
trademarks of OrbusNeich Medical, Inc.
For more information:
www.csi360.com
Cardiovascular Systems, Inc.
CSII
@csi360
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