Company Overview - Kestra Medical Technologies, Ltd. is a wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease through innovative monitoring and therapeutic intervention technologies [3]. Leadership Appointment - Conor Hanley has been appointed as an independent director to the board of Kestra Medical Technologies, effective June 4, 2025 [1]. - Brian Webster, President and CEO of Kestra, expressed enthusiasm about Hanley's appointment, highlighting his deep expertise in medical technology and cardiac care as a strategic resource for the company [2]. Conor Hanley's Background - Mr. Hanley is currently the CEO of FIRE1, a venture-backed company focused on connected medical device solutions for heart failure [2]. - He has held senior management roles at ResMed, leading the cardiology business unit and chronic disease management solutions globally [2]. - Hanley co-founded and served as CEO of BiancaMed, a medical device company acquired by ResMed, and holds a PhD in chemical engineering and an MBA [2]. Strategic Focus - Mr. Hanley expressed his honor in joining the Kestra board and emphasized the company's role in driving innovation in the wearable cardioverter defibrillator market [3]. - The company aims to scale its operations and fulfill its commitments to patients and prescribers [3].

Kestra Medical Technologies (KMTS) 2025 Conference Summary Company Overview - **Company**: Kestra Medical Technologies (KMTS) - **Industry**: Medical Devices and Digital Healthcare - **Product**: Wearable Cardioverter Defibrillator (WCD) - **IPO**: Recently went public, marking its first post-IPO conference [1][7] Market Position and Product Offering - **Market Size**: Approximately 850,000 patients diagnosed annually in the US with an ejection fraction of 35% or below, representing a Total Addressable Market (TAM) of about $10 billion in the US [11] - **Competitors**: Previously dominated by ZOLL Medical, which held a monopoly for about 20 years [11] - **Current Market Penetration**: Only about 120,000 patients treated last year, indicating significant growth potential [11] Business Model - **Rental Model**: Patients are fitted with the device in a hospital or clinic, monitored digitally, and the device is returned after approximately three months [5][6] - **Insurance Coverage**: Currently covers approximately 285 million lives in the US, equating to about 90% coverage [25] - **Recent Contract**: Secured a significant contract with Kaiser, enhancing the speed of prescription fulfillment due to their closed network [27][28] Growth Strategy - **Sales Force Expansion**: Plans to increase sales territories from 70 to 80 by April, with a long-term goal to double this number [21][22] - **Market Development**: Actively engaging in market development strategies to expand the overall market, not just gain market share [14][15] - **Sales Rep Training**: New sales representatives typically take about six months to reach full productivity [23] Financial Performance and Projections - **Gross Margin Improvement**: Projected gross margins to improve from 14% last year to 44% this year, with a long-term goal of reaching 70% [48][51] - **Revenue Breakeven**: Expected to achieve breakeven at approximately $250 million in revenue, with a projected EBITDA margin of 25% [53] - **Unit Economics**: Each unit can generate about $300,000 in revenue over ten years, with cash margins around 80-82% [55] Competitive Landscape - **New Competitor**: Element Science received FDA approval for a new adhesive-based product, which may increase market awareness but is not seen as a direct threat due to Kestra's superior product features [41][42] - **ZOLL's Response**: ZOLL is making iterative improvements to their product but has not introduced significant technical updates [45] Innovation and Future Outlook - **R&D Focus**: Kestra is investing in next-generation technologies and has a strong patent portfolio with around 370 patents [62] - **Market Expansion Evidence**: Some physicians have reported a 120% increase in prescription rates after switching to Kestra [39] Key Takeaways - **Underpenetrated Market**: Significant growth opportunities exist in the wearable defibrillator market - **Strategic Growth**: Focus on responsible expansion of sales force while maintaining service levels - **Financial Health**: Strong path towards profitability with improving gross margins and revenue projections This summary encapsulates the key points discussed during the conference, highlighting Kestra Medical Technologies' market position, growth strategies, financial outlook, and competitive landscape.

"Being named a finalist for the Entrepreneur Of The Year® 2025 Mountain West Award is a meaningful acknowledgment of the work we're doing at Kestra," said Brian Webster. "Our goal has always been to challenge the status quo in cardiac care by developing innovative, inclusive solutions that address real patient needs. This recognition underscores our commitment to transforming healthcare through purposeful innovation and building a company culture that values diversity and impact." Founded in 2014, Kestra Me ...

Core Viewpoint - Kestra Medical Technologies, Ltd. is actively engaging with investors through participation in key healthcare conferences in 2025, showcasing its commitment to advancing its wearable medical devices and digital healthcare solutions [1][2]. Group 1: Upcoming Investor Conferences - Kestra Medical Technologies will participate in the BofA Securities 2025 Health Care Conference on May 14, 2025, at 6:40 p.m. ET [1]. - The company is also scheduled for the Goldman Sachs 46th Annual Global Healthcare Conference on June 11, 2025, at 8:00 a.m. ET [1]. - Live webcasts and replays of the presentations will be available on the company's investor relations website [1]. Group 2: Company Overview - Kestra Medical Technologies is a commercial-stage company focused on wearable medical devices and digital healthcare [2]. - The company aims to transform patient outcomes in cardiovascular disease through intuitive, intelligent, and connected monitoring and therapeutic intervention technologies [2]. - More information about the company can be found on its official website [2].

Core Insights - Kestra Medical Technologies presented new real-world data on the ASSURE Wearable Cardioverter Defibrillator (WCD) at the Heart Rhythm 2025 conference, highlighting its effectiveness in community-based care settings [1][2][3] Group 1: Study Findings - The study demonstrated high patient compliance with a median daily wear time of 23.3 hours, indicating sustained usage beyond 90 days, which is crucial for protecting patients at risk of sudden cardiac death [3][4] - Ventricular arrhythmias were detected in 4% of patients, emphasizing the importance of real-time monitoring and early intervention in a predominantly primary prevention population [4] - The APP-driven care model effectively delivered WCD therapy in accordance with guideline-based recommendations, ensuring that all indicated patients received appropriate care [5] Group 2: Company Mission and Vision - Kestra aims to expand access to intelligent, connected cardiac recovery solutions across all levels of care, marking a significant milestone in its mission [6] - The company focuses on transforming patient outcomes in cardiovascular disease through intuitive, intelligent, and connected monitoring and therapeutic intervention technologies [7]

Kestra will debut an immersive in-booth experience designed to bring the ASSURE system to life— demonstrating how this innovative technology is redefining protection for patients at risk of sudden cardiac arrest. By combining lifesaving defibrillation therapy with intuitive, intelligent, and connected diagnostic and patient support capabilities, the ASSURE system is a key part of a broader vision for a holistic cardiac care ecosystem that supports patients and providers across the recovery journey. "Our pre ...

[Recent Highlights & Business Update](index=1&type=section&id=Recent%20Highlights%20%26%20Business%20Update) Kestra Medical Technologies achieved sustained commercial momentum in Q3 FY25, marked by its IPO, expanded market access, and a key leadership appointment - Completed its initial public offering in March 2025, raising approximately **$205.2 million** in net proceeds[6](index=6&type=chunk) - Expanded market access by signing new in-network contracts, bringing total covered lives for the ASSURE® system to over **285 million** health plan members in the U.S.[6](index=6&type=chunk) - Appointed Mr. Al Ford as the new Chief Commercial Officer to lead commercial strategy and execution[6](index=6&type=chunk) - The CEO highlighted a continued focus on delivering strong growth by expanding the commercial organization and advancing revenue cycle management capabilities[3](index=3&type=chunk) [Financial Performance](index=1&type=section&id=Financial%20Performance) Kestra achieved significant Q3 FY25 revenue growth and gross margin expansion, reporting a net loss due to increased operating expenses, while projecting strong full-year growth [Q3 FY25 Financial Results](index=1&type=section&id=Q3%20FY25%20Financial%20Results) Q3 FY25 revenue grew 82% to **$15.1 million** with gross margin at **43.4%**, but increased operating expenses led to a **$21.8 million** GAAP net loss Q3 FY2025 vs. Q3 FY2024 Performance | Metric | Q3 FY2025 | Q3 FY2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $15.1 million | $8.3 million | +82% | | Gross Profit | $6.5 million | $0.9 million | +622% | | Gross Margin | 43.4% | 10.6% | +32.8 p.p. | | Operating Expenses | $27.1 million | $20.8 million | +30% | | GAAP Net Loss | $21.8 million | $21.6 million | +0.9% | | Adjusted EBITDA Loss | $16.3 million | $16.2 million | +0.6% | - Revenue growth was driven by a higher share of wallet at existing customers, activation of new accounts, a higher mix of in-network patients, and improved revenue cycle management[6](index=6&type=chunk) - Prescriptions for the ASSURE® system increased by **51%** compared to the prior year period, totaling **3,459**[6](index=6&type=chunk) [Fiscal Year 2025 Revenue Outlook](index=1&type=section&id=Fiscal%20Year%202025%20Revenue%20Outlook) Kestra provides a positive outlook for the full fiscal year ending April 30, 2025, expecting revenue to be in the range of **$58.0 million to $58.5 million** - The projected full-year revenue represents significant growth of approximately **109% to 110%** compared to fiscal year 2024[5](index=5&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) The unaudited financial statements for Kestra's predecessor, West Affum Intermediate Holdings Corp., present the balance sheet, statement of operations, and adjusted EBITDA reconciliation - The financial statements presented are for West Affum Intermediate Holdings Corp., which is the predecessor to Kestra Medical Technologies, Ltd. for financial reporting purposes prior to the IPO[8](index=8&type=chunk) [Condensed Consolidated Balance Sheets](index=5&type=section&id=WEST%20AFFUM%20INTERMEDIATE%20HOLDINGS%20CORP.%20AND%20SUBSIDIARIES%20CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of January 31, 2025, total assets reached **$108.0 million**, primarily due to increased cash, with total liabilities at **$85.4 million** and a stockholder's deficit of **$257.9 million** Balance Sheet Highlights (in thousands) | Account | Jan 31, 2025 | Apr 30, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $54,352 | $8,249 | | Total current assets | $69,916 | $14,907 | | Total assets | $107,995 | $45,949 | | Total current liabilities | $38,693 | $32,971 | | Total liabilities | $85,380 | $78,216 | | Total stockholder's deficit | ($257,895) | ($209,377) | [Condensed Consolidated Statements of Operations](index=6&type=section&id=WEST%20AFFUM%20INTERMEDIATE%20HOLDINGS%20CORP.%20AND%20SUBSIDIARIES%20CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS%20AND%20COMPREHENSIVE%20LOSS) For Q3 FY25, Kestra reported **$15.1 million** in revenue, a **$20.6 million** operating loss, and a **$21.8 million** net loss, resulting in a **($1.25)** net loss per share Statement of Operations Summary - Three Months Ended Jan 31 (in thousands) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Revenue | $15,090 | $8,277 | | Gross margin | $6,547 | $880 | | Loss from operations | ($20,601) | ($19,946) | | Net loss and comprehensive loss | ($21,759) | ($21,619) | | Net loss per share | ($1.25) | ($1.18) | [Reconciliation of GAAP Net Loss to Adjusted EBITDA](index=7&type=section&id=WEST%20AFFUM%20INTERMEDIATE%20HOLDINGS%20CORP.%20AND%20SUBSIDIARIES%20RECONCILIATION%20OF%20GAAP%20NET%20LOSS%20AND%20COMPREHENSIVE%20LOSS%20TO%20ADJUSTED%20EBITDA) The company reconciled its Q3 FY25 GAAP net loss of **$21.8 million** to an adjusted EBITDA loss of **$16.3 million**, primarily by adding back non-cash and IPO-related expenses Adjusted EBITDA Reconciliation - Three Months Ended Jan 31 (in thousands) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | GAAP Net loss and comprehensive loss | ($21,759) | ($21,619) | | IPO expense | $1,927 | $— | | Depreciation expense | $1,888 | $3,363 | | Interest expense | $1,783 | $1,651 | | **Adjusted EBITDA** | **($16,327)** | **($16,211)** | [Supplementary Information](index=2&type=section&id=Supplementary%20Information) This section provides critical context, clarifying that financial results are for the predecessor entity, defining Adjusted EBITDA, and including forward-looking statement disclaimers - An explanatory note clarifies that Kestra Medical Technologies, Ltd. was formed for the IPO and its business was previously conducted through West Affum Intermediate Holdings Corp., which is the predecessor for financial reporting purposes in this release[8](index=8&type=chunk) - The company uses the non-GAAP financial measure Adjusted EBITDA, which it believes helps investors understand core performance by excluding items like interest, taxes, depreciation, amortization, stock-based compensation, and IPO expenses[9](index=9&type=chunk)[10](index=10&type=chunk) - The press release contains forward-looking statements regarding financial guidance, business strategy, and product expectations, which are subject to substantial risks and uncertainties as detailed in SEC filings[12](index=12&type=chunk)