Kestra Medical Technologies (KMTS) Company Presentation summary

Market opportunity and growth drivers

• U.S. wearable cardioverter defibrillator (WCD) market estimated at $10B, with significant underpenetration and only one major competitor.

• International expansion and a total addressable market of $14B, targeting 1.8M patients.

• Growth supported by investments in revenue cycle management, supply chain, and commercial team expansion.

• Broad payor coverage with 285M+ covered lives and consistent annual increases in Medicare reimbursement.

• High prescription concentration enables targeted sales strategies at top hospitals and clinics.

Product innovation and clinical impact

• ASSURE WCD offers significant differentiation, with integrated digital solutions for patient and physician engagement.

• FDA Class III premarket approval achieved, with pivotal trials showing reliable detection and over 300x fewer false positives than alternatives.

• Real-world data shows 96% first shock success rate, high compliance (median 22–23 hours/day), and minimal false alarms.

• Clinical studies highlight effective therapy, critical arrhythmia detection, and strong secondary prevention and stroke risk reduction.

• Largest registry to date in DCM patients shows high early risk detection and actionable insights without unnecessary shocks.

Commercial execution and financial performance

• Over 25,000 patients protected as of July 2025, with rapid commercial scaling since launch.

• Revenue grew from $7.6M in FY23 to $59.8M in FY25, with gross margin improving from -140% to 46%.

• Asset pool of 7,500+ WCD units enables rapid patient fitting and efficient reconditioning for reuse.

• Gross margin expansion driven by improved payor contracts, revenue cycle management, and supply chain efficiencies.

• Business model based on equipment rental and reuse, with most prescriptions filled using reconditioned devices.