Norway · Delayed Price · Currency is NOK Photocure ASA Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw 11% product revenue growth ex-FX, driven by strong North American and European performance, equipment upgrades, and mobile BLC adoption. The Vesica Health acquisition and FDA reclassification are set to expand market access, with guidance raised to 8%-11% top-line growth and long-term targets of 25%+ annual revenue growth and EBITDA margins by 2030.
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The acquisition of Vesica Health and AssureMDx enables expansion into precision diagnostics, leveraging commercial synergies and robust clinical validation. Structured milestone payments and multiple reimbursement pathways reduce risk, with significant long-term growth expected from 2027 onward.
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Q1 2026 saw 18% product revenue growth, strong gains in both North America and Europe, and 12 consecutive quarters of positive EBITDA. Regulatory and commercial milestones, including FDA reclassification and new partnerships, position the business for scalable long-term growth.
Fiscal Year 2025
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Q4 and full-year 2025 saw strong revenue and EBITDA growth, driven by North America and EU expansion, new partnerships, and product upgrades. Operating leverage improved, with 11 straight quarters of positive EBITDA and a robust cash position. Guidance calls for 7%-11% growth and continued scaling.
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Q3 saw 12% revenue growth and positive EBITDA for the 10th straight quarter, driven by strong U.S. and European performance, technology upgrades, and expanding mobile solutions. Strategic partnerships and AI initiatives are set to fuel future growth, with a narrowed 8%-10% revenue guidance.
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Revenue grew 11% year-over-year to a record NOK 135.6 million, with strong gains in both North America and Europe, and positive EBITDA for the ninth consecutive quarter. ForTec mobile solutions now exceed 10% of business, and strategic expansion into Spain and new product development are expected to drive future growth.
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Q1 2025 saw 7% revenue growth and positive EBITDA, driven by strong European performance and expanding mobile solutions in the U.S. Despite a sharp decline in FLEX sales, rigid kit growth and new account activations offset the impact. Guidance for 7%-11% revenue growth in 2025 is reaffirmed.
Fiscal Year 2024
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Q4 delivered 13% revenue growth and positive EBITDA, with strong US and European performance, expanding partnerships, and a robust cash position. Outlook for 2025 is 7–11% product revenue growth and further EBITDA improvement, driven by new launches and regulatory milestones.
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Q3 saw 12% revenue growth and positive EBITDA, driven by strong U.S. and European performance, new installations, and mobile strategy expansion. Regulatory milestones in China and Europe, along with strategic partnerships, are set to fuel future growth.
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Q2 2024 saw 6% product revenue growth, positive EBITDA, and a strengthened cash position. U.S. rigid tower growth and European upgrades offset Flex segment declines, with raised guidance for Saphira placements and strong outlook for H2. Regulatory milestones in China and EU expected in 2025.