Norway · Delayed Price · Currency is NOK Photocure ASA Earnings Call Transcripts
Fiscal Year 2025
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Q4 and FY25 saw record product revenue, double-digit growth in North America, and 11 straight quarters of positive EBITDA. Strategic partnerships, innovation in AI diagnostics, and strong cash position support continued operating leverage and growth, with U.S. market under-penetrated.
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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, new installations, and AI partnerships. Guidance narrowed to 8%-10% growth, with continued focus on U.S. expansion and innovation.
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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 delivered 12% revenue growth and positive EBITDA, with strong performance in both U.S. and Europe. Mobile solutions and equipment upgrades are driving expansion, while regulatory milestones in China and the EU are expected to yield significant future cash inflows.
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Q2 2024 saw 6% product revenue growth, positive EBITDA, and a strengthened cash position. U.S. and European markets showed strong momentum, with raised guidance for Saphira tower placements and key partnerships advancing access and innovation.