Progressive Presents the Management Team of Instem – 04/10/2022

Instem is a leading provider of IT solutions & services to the life sciences market. Instem’s software enables its customers (mainly pharmaceutical companies) to bring their life-enhancing drugs to market faster.

Panelists: CEO Phil Reason, CFO Nigel Goldsmith, VP of Investor Relations John Horton

Watch the full presentation below or navigate to the segments and questions that interest you the most.

Introduction and Company Overview

Market Overview and Growth Strategy

HY22 Financial Highlights

Summary & Investment Case

1. Given that “In Silico” solutions are expected to grow at the fastest rate of the various end markets, but are still relatively small in terms of Instem revenue, is this an area of organic investment, or are you hoping for M&A to help expand your presence?

2. I see you made three acquisitions during 2021. What does the future M&A roadmap look like - is it “skills” or “scale” next?

3. Why have you not been bought by any 'Big Pharma' companies?

4. What percentage of your revenue are your top 9 clients?

5. Considering the market you are in, the acquisitions you have made, and the age of the company, Instem's valuation seems quite small. Can you comment on why this is?

6. Please explain why revenue and contribution/margin in the Regulatory Solutions division has declined?

7. Are there any other companies also trying to create a business like Instem?

8. You have a lot of clients in a big, fragmented market and you've talked about making acquisitions to fill out the offering. Can you talk about the opportunity to cross-sell?

9. If your clients use your software, do you have evidence that they will have a greater chance of trial success?

10. What will be the trigger for introducing a dividend?

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