{ "docId": "019de514-f120-743f-9d00-70915b7d1fa5", "docSlug": "a9055659e75fd1b92a3c529616eb6953", "documentTitle": "Bausch+Lomb | Results Presentation Deck | 49 slides", "authorId": "bausch-lomb", "authorName": "Bausch + Lomb", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2023-02-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 14, "pageCount": 49, "prevPage": 13, "nextPage": 15, "slideType": "kpi_overview", "function": "summarize", "density": "dense", "nDataPoints": 48, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de514-f120-743f-9d00-70915b7d1fa5/14", "deckHref": "/decks/019de514-f120-743f-9d00-70915b7d1fa5", "deckJsonHref": "/decks/019de514-f120-743f-9d00-70915b7d1fa5.json", "deckAnchorHref": "/decks/019de514-f120-743f-9d00-70915b7d1fa5#slide-14", "components": [ { "bbox": { "h": 0.029, "w": 0.099, "x": 0.045, "y": 0.943 }, "kind": "image", "text": "BAUSCH+ LOMB", "attrs": null, "subkind": "logo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a48856f9-ca09-4ebc-84e9-2de8e2bbb149", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.52, "w": 0.249, "x": 0.729, "y": 0.293 }, "kind": "list", "text": "+5% organic revenue growth1,2,5\n+$36M investment in R&D during FY22 to expedite portfolio advancement\nContinued to maintain a disciplined approach to cost management as inflation pressure weighed on gross margin\n2021 results were not fully burdened by all of the stand-up costs associated with operation as an independent company", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fb240dc4-f1f6-445c-99f8-9887100e535d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.079, "w": 0.794, "x": 0.159, "y": 0.91 }, "kind": "source-note", "text": "1. Products with sales outside the United States impacted by F/X changes.\n2. This is a non-GAAP measure or ratio. See Slide 2 and Appendix for further information on non-GAAP measures and ratios.\n3. Includes transactional FX and NCI.\n4. 4Q21 presented on an adjusted basis after giving effect to the IPO.\n5. Organic revenue growth/change, a non-GAAP ratio, is defined as a change on a period-over-period basis in revenues on a constant currency basis (if applicable) excluding the impact of acquisitions, divestitures and discontinuations.\n6. Prior to 2022, in calculating Adjusted EBITA, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS, the Company had excluded expenses associated with acquired in-process research and development costs (\"IPR&D\"), Commencing in 2022, the Company no longer excludes acquired IPR&D in its calculation of Adjusted EBITA, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS. The Company is making this change for 2022 periods and onwards and has not made this change for periods prior to to 2022. The The Company believes these costs are not material for the periods presented. In p d. In particular, there was no acquired IPR&D in the fourth quarter of 2022 and there was less then $1 million in aggregate acquired IPR&D for the twelve months ended December 31, 2022. For 2021, there was $4 million in the fourth quarter of 2021 and there was $5 millionin aggregate acquired IPR&D for the year ended December 31, 2021. See the Appendix for further information on this change.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e3a6f81c-3ccb-43d9-84ff-a75dedf56e49", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.76, "w": 0.674, "x": 0.045, "y": 0.146 }, "kind": "table", "text": "Bausch + Lomb FY22 FY21 Reported Change Constant Currency³ Organic Change 3,5 Vision Care Revenue $2,373M $2,343M 1% 6% 6% Surgical Revenue $718M $718M 0% 6% 8% Ophthalmic Pharmaceuticals Revenue $677M $704M (4%) 0% 0% Total Revenue $3,768M $3,765M 0% 5% 5% Adj. Gross Profit² $2,249M $2,298M (2%) 2% Adj. Gross Margin² 59.7% 61.0% (130 bps) R&D $307M $271M (13%) (16%) R&D percent of Revenues 8.1% 7.2% Adj. SG&A2 $1,421M $1,377M (3%) (8%) Adj. SG&A percent of Revenues2 37.7% 36.6% Adj. EBITA2,6 $520M $651M (20%) (17%) Depreciation $135M $123M 10% 15% Stock Based Compensation $62M $62M 0% 0% Adj. EBITDA 2,3,6 $720M $821M (12%) (10%) Adj. EBITDA Margin2,6 19.1% 21.8% Adj. Net Income Attributable to Bausch + Lomb3,6 $375M $454M (17%) (17%) Adj EPS Attributable to Bausch + Lomb2,4,6 $1.07 $1.30", "attrs": null, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "efbac4fc-856c-48ca-94b0-34d6bd881e69", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 20, "from": 10, "beatId": "7dc62337-b2ed-4c41-8d32-808d2f972bf7", "arcName": "Monroe's Motivated Sequence", "arcSlug": "monroes-sequence", "beatName": "Satisfaction", "beatSlug": "monroes-sequence-satisfaction", "evidence": "The presentation showcases the company's strong financial performance and strategic advancements, providing satisfaction to investors", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "loops": [ { "to": 20, "from": 10, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "d15671c2-99b6-48fa-89dc-6302733eef20", "evidence": "The presentation highlights the company's financial performance and strategic advancements, implying the consequences of not investing in Bausch + Lomb", "position": 0, "objective": "Emphasize the importance of Bausch + Lomb's solutions by highlighting the cost of inaction", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }