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IKS HEALTH IKS Health Q1 FY 27 Investor Presentation
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2 Disclaimer This presentation may include opinions and assumptions about future performance which could be considered as forward-looking statements. Forward-looking statements intrinsically cover several risks and uncertainties, which may lead to a material difference between actual results and the statements themselves. Such statements comprise the company’s current visibility on market movements, client discussions, and related factors. Inventurus Knowledge Solutions Limited does not assume an obligation to update or revise any forward-looking statements.
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3 600+/650+ Healthcare Organizations Q1 27/Q1 26 12,889 / 1,902 Employees / Clinically trained staff (As of June 30, 2026) US$260bn / US$34bn TAM / Outsourced Market (CY2023) 8% / 12% TAM / Outsourced Market CAGR (2023-2028E) 85%+ Revenues from Repeat Customers 5+ Years Top 10 / Top 5 Clients Average Vintage (As of Mar 31, 2026) 565 Technology Focused Employees (As of June 30, 2026) 57 Sales & Marketing Employees (As of June 30, 2026) US$5tn US Healthcare Expenditure (CY2024) Total Addressable Market1,2 Established Client Relationships Specialised workforce The only Comprehensive platform that delegates all chores across the patient journey Adding a technology-enabled layer to ‘care delivery pyramid’ to help Physician Enterprises achieve optimized revenue and reduced expenses Note: Numbers Rounded off to nearest Integer / percent; 1. Source: Zinnov Report; 2. TAM- Total Addressable Market for RCM, VBC, Patient, Coding and Client Services. 3. Repeat clients refers to clients who availed our platform or solutions during the previous period, and revenue generated from such clients are calculated for the relevant period 3 IKS Health - a comprehensive healthcare enablement platform empowering provider organizations
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IKS Health: 5 strategic pillars of execution 4 Proprietary models driven comprehensive System of Action with API integration for large medical group market Integrated System of Action (SOA) & System of Record (SOR) for rural/ community health system market Drive growth momentum through re-stratified key growth levers Get back to optimized margins through operating model transformation and synergies Culture and leadership ●Create the structured unified data moat for AI training (5MM+ longitudinal records) that enable our SLM’s ●Train our proprietary SLM’s that power the interconnected workflows leveraging the above AI Training moat ●Build explainability in each of the Generative AI driven workflows; and empower with human-in-the-loop (HITL) and/or Rules-based AI for deterministic outcomes ●Embed the SOA agentic workflows in the native SOR (Electronic Health Record - EHR) workflows ●Translate the trained agentic workflows from Rural/ Community settings to the large group and ambulatory settings and vice versa ●Build API-powered integration with relevant EHRs ●Embody Explainability for Generative AI and HITL where applicable ●Continue to pursue feature-based KLAS leadership while demonstrating interconnected end to end agentic workflows (platform capabilities) ●Pick up land and expand (cross sell) momentum in installed base of Large Health Systems ●Cross sell System of Action (SOA) in the Rural/ Community (TruBridge) installed base ●Platform sales in mid-size Health Systems / Medical Groups ●Evolve from T ech led, HITL to Autonomy through explainable AI for non-deterministic outcomes ●Execute Operating model Transformation in TruBridge RCM & Coding Businesses ●Realize Operating and SG&A Synergies ●Continue to institutionalize an outcome driven culture and operating model to enable outcome based deals ●Consolidated Leadership team leveraging complementary strengths and capabilities ●One Unified Culture based on intentional manifest of value behaviors 4
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5 Awards and Recognition Best CFO & Finance Strategy Excellence Awards 2026 1. Excellence in Investor Relations (Organisational category) 2. Best CFO in Healthcare – Nithya Balasubramanian, Whole-time Director & Group CFO (Individual category) US Patent US 12,619,923 В2 for Engagement Learning Engine AI-driven “Awareness-Ability-Willingness” (AAW) behavioral modeling powers IKS Health’s patient access solutions including MyCareHub which enhance patient engagement and optimize patient scheduling. 2026 Dallas-Fort Worth Titan 100 Titan CEO - Sachin K. Gupta, Founder & Global CEO
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6 Awards and Recognition American Medical Group Association (AMGA) Distinguished Corporate Partner Award 2026 Axia Women’s Health IKS Health partnership for medical coding delivered $12 Million in annual cash impact with 96%+ coding accuracy and 37% lower coding related denials FE HR Awards 2026 Excellence in Onboarding & Role Enablement
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Legend Pre-visit Peri-visit In between visits Post-visit Optimized Scheduling Patient Financial Clearance Patient Engagement Hub Autonomous Coding Referral Order Management IKS ScribbleTM Pre-Visit Summary Billing and Denial Prevention Payment Posting and Denial Management Concurrent and Denovo Risk Coding Patient AR Management Care Management and UM Inbox Management IKS AssuRxTM IKS StacksTM In-acute settings Prospective Clinical Chart Reviews Clinical Documentation Solutions Clinical Coding And CDI Revenue Optimization Solutions Medico-legal Documentation Solutions Discharge Summary Automation Level 1 2 3 4 5 Fully Manual Fully Autonomous 7 IKS Health enables care transformation across the patient journey
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Q1 - Strong growth while delivering continuous margin expansion Growth At Scale Deep Client Relationships Strong Margin Profile Globally Diversified Workforce INR 8,936 mn Revenue from Operations 21% YoY growth in INR 12% YoY growth in USD 450+ Enterprise level customers INR mn 3,759 Revenue from Top 10 customers 5.76 / 7.41 years Top 10 / Top 5 Clients Average Vintage 33% EBITDA (in spite of one-time acquisition costs) 22% PAT Margin 24%/28% YoY growth in EBITDA/PAT 12,889 Total Employees 1,902 / 565 Clinical /tech focussed employees 43% Women employees 8
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Q1 FY 27: Growing faster than market with strong margins Adjusted PAT* INR Mn PAT INR Mn 24.0% YoY (even higher if not for one-time acquisition costs) 1.8% QoQ (due to one-time acquisition costs and reduction in currency gains) 4.2% QoQ 20.7% YoY 5.9% QoQ 5.1% QoQ 27.8% YoY 28.0% YoY EBITDA INR Mn Revenue INR Mn *Adjusted PAT is adjusted for amortization of intangible assets recognised on acquisition which is a non-cash expense. 32.1% 35.0% 33.0% 20.5% 24.0% 21.7% 22.7% 26.5% 24.1% 7,401 Q1 FY26 8,577 8,936 Q4 FY26 Q1 FY27 2,378 3,002 2,949 1,515 2,060 1,937 Q1 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q4 FY26 Q1 FY27 1,682 2,269 2,153 Q4 FY26 9 Q1 FY27Q1 FY26
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Net Debt INR Mn OCF & FCF INR Mn Q1 FY 27 - Continued strong cash generation supporting growth aspirations OCF and FCF are adjusted for upfront guarantee payment of economic value add made to a customer, for Rs 1,430 mn in Q1 FY 27. 20.5% OCF YoY 26.9% FCF YoY 10
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Key deal wins 11 Strategic partnership with premier integrated health system in California for a comprehensive clinical data migration for an acquired hospital, seamlessly unifying legacy records into their enterprise EHR. Establishes a framework that positions IKS as a preferred partner for additional facility migrations across the growing group footprint. Premier California Health System Reuniting with one of the leaders in musculoskeletal space. The collaboration focuses on modernizing end-to-end RCM functions. By optimizing back-office functions, the clinical provider can better focus on delivering highly customized, life-enhancing physical interventions to patients nationwide. National Musculoskeletal Leader Existing customer StrideCare is a large Texas multi-specialty physician group that acquired a vein, vascular, and podiatry specialty group and extended RCM services, indicating organic growth and practice expansion. One of country’s top health systems Advocate Health, an existing client, is significantly expanding its partnership across RCM including coding in volume and value efforts across its entire network in the acute and ambulatory space.
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Q1 FY 27 - Improving EPS and maintaining high ROE EPS ₹ ROE %* Return on Equity is calculated as profit for the period divided by average equity balance during the period. EPS is calculated as profit for the period divided by weighted average number of equity shares as defined in IND AS 33. 6.1% QoQ 27.5% YoY *ROE declined due to increased equity base from revaluation of Abridge, alongside lower earnings from reduced currency gains and one-time acquisition costs. 12 9.1 12.3 11.6 Q1 FY26 Q4 FY26 Q1 FY27 32.3% 31.3% 26.4% Q1 FY26 Q4 FY26 Q1 FY27
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Financials - Summary INR millions *Includes acquisition expenses incurred in current quarter and last quarter INR Mn Particulars Q1 FY 27 Q1 FY 26 YoY% Q4 FY 26 QoQ% Revenue USD mn 97 87 12.0% 95 2.5% Revenue 8,936 7,401 20.7% 8,577 4.2% Forex Gain/ (Loss) 12 12 3.2% 352 -96.6% Employee benefit expense excluding ESOP 4,332 3,871 11.9% 4,011 8.0% Other Expenses* 1,449 1,075 34.8% 1,743 -16.9% EBITDA excluding ESOP 3,167 2,467 28.4% 3,175 -0.2% EBITDA excluding ESOP % 35.4% 33.3% 2.1% 37.0% -1.6% ESOP Cost 218 89 145.4% 173 26.2% EBITDA 2,949 2,378 24.0% 3,002 -1.8% EBITDA % 33.0% 32.1% 0.9% 35.0% -2.0% Finance cost 101 181 -44.1% 127 -20.2% Depreciation and amortisation 343 279 22.9% 341 0.7% Interest income 57 31 85.3% 49 17.2% Profit before exceptional items and tax 2,563 1,949 31.5% 2,584 -0.8% Profit before exceptional items and tax % 28.7% 26.3% 2.3% 30.1% -1.4% Tax expense 572 433 32.0% 470 21.7% Profit for the period before Share of Associates 1,990 1,515 31.4% 2,114 -5.8% Profit for the period before Share of Associates % 22.3% 20.5% 1.8% 24.6% -2.4% Share of Profit/(Loss) from Associates (net of tax) (53) 0.0% (54) -1.9% Profit for the period 1,937 1,515 27.8% 2,060 -5.9% Profit for the period % 21.7% 20.5% 1.2% 24.0% -2.3% Amortisation of Intangible assets 216 167 29.2% 210 2.8% Adjusted Profit for the period 2,153 1,682 28.0% 2,269 -5.1% Adjusted Profit for the period % 24.1% 22.7% 1.4% 26.5% -2.4% 13
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Particulars Q1 FY 27 Q1 FY 26 Q4 FY 26 Annualised Adjusted EBITDA per employee in INR mn 0.99 0.81 0.98 Revenue from Top 10 customers INR mn 4,808 3,213 4,525 Contribution from Top 10 customers 53.8% 43.4% 52.8% Revenue from Top 5 customers INR mn 3,759 2,349 3,564 Contribution from Top 5 customers 42.1% 31.7% 41.5% Ageing of Top 10 clients (number of years) 5.76 5.54 5.42 Ageing of Top 5 clients (number of years) 7.41 5.52 5.56 FCF Yield (%) 89.9% 84.5% 62.1% Other KPI Metrics 14
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A decade of consistent profitable growth 28.7% Revenue CAGR 46.4% PAT CAGR 15
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16Strategic Outlook: Sustained EBITDA expansion without significant dilution of Equity. LTM Sep 24 Pre-IPO Baseline LTM Jun 26 FY 30 INR MnEBITDA Medium-Term Financial Outlook 6,472 11,485 30,000 39% CAGR 30% CAGR 30,000 19% CAGR EBITDA Revenue Net Debt 5,534 2,654 3,000
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Thank You 17