Sweden · Delayed Price · Currency is SEK Surgical Science Sweden AB Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw underlying growth and strong cash flow despite a 6% reported sales decline due to FX headwinds. EMEA and UK delivered standout results, new product launches advanced the portfolio, and the company remains on track for its 2027 targets.
Fiscal Year 2025
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Q4 2025 saw 15% local currency sales growth and record license revenues, though currency headwinds and a contract change with Intuitive will impact 2026. Operational efficiency improved, with cost savings realized and new products launched, supporting a positive long-term outlook.
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A new strategy targets five business segments, aiming for 10%-15% annual revenue growth and at least 15% Adjusted EBIT by 2027. Profitability improvements, product innovation, and expanded sales channels are central, with a planned move to the Nasdaq Main Market to broaden investor access.
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Q3 2025 delivered record sales and improved profitability initiatives, with strong growth in Europe and Industry OEM, but margin pressure from currency and product mix. Robotics and ultrasound segments show high demand, while U.K. and U.S. markets remain challenging.
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Q2 sales declined 2% year-over-year to SEK 209 million, with negative currency effects and weaker U.S. and China markets, but backlog increased and Europe grew 22%. Gross margin fell to 65%, EBIT margin was -11%, and management remains confident in 2026 targets, driven by organic growth and ongoing strategic initiatives.
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Q1 2025 delivered 33% sales growth and record license revenues, driven by the robotic surgery market and the integration of Intelligent Ultrasound. Revised 2026 targets reflect regulatory delays and market challenges, but long-term growth prospects remain strong.
Fiscal Year 2024
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Record Q4 sales and strong Industry OEM growth offset a weak start to the year, with stable full-year results. Major milestones include the Intelligent Ultrasound acquisition and a new Intuitive agreement, positioning for long-term growth despite near-term margin pressure.
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The acquisition will double ultrasound simulation sales, expand global reach, and create a world-leading product portfolio. Cost and revenue synergies are expected, with integration and cross-selling opportunities beginning in 2025. Completion is targeted for Q1 2025.
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Q3 2024 saw 12% currency-adjusted growth and a 20% EBIT margin, with both business segments expanding. Educational Products is set for strong growth in 2025, while Industry/OEM posted robust simulator and license sales. Cash position remains strong at SEK 666 million.
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Educational Products rebounded strongly in Q2, with large tenders returning and strong momentum into Q3, while Industry OEM grew 15% year-over-year. License revenues declined due to timing and product rollout, but future opportunities remain, and the company maintains a solid cash position.