RaySearch Laboratories Reports Strong First Quarter Results
First Quarter Financial Performance of RaySearch Laboratories
RaySearch Laboratories AB (publ) has recently unveiled its financial results for the first quarter of the year, and the numbers are impressive. During this period, the company's order intake reached an impressive SEK 409.6 million, a significant increase from the previous year’s SEK 238.5 million. This steady growth is a testament to the robust demand for their innovative cancer treatment solutions.
Key Highlights from the First Quarter
The first quarter brought several noteworthy financial metrics for RaySearch. Net sales rose to SEK 331.7 million, compared to SEK 257.2 million a year earlier. This increase in sales directly contributed to an operating profit that climbed to SEK 74.8 million, representing a remarkable growth from SEK 45.8 million in the same quarter last year. Following these trends, the profit after tax also saw an uplift, amounting to SEK 56.8 million compared to SEK 36.7 million previously.
Improved Earnings Per Share
The company reported an earnings per share before and after dilution of SEK 1.66, climbing from SEK 1.07 year-over-year. Such figures highlight RaySearch's commitment to delivering value to its shareholders while expanding its businesses.
Cash Flow and Order Backlog
The cash flow from operating activities was recorded at SEK 146.8 million, although slightly down from SEK 167.3 million in the prior year. Furthermore, the order backlog as of the end of the quarter was SEK 1,734.4 million, reflecting a solid position for continued growth in the future.
Significant Developments in the Quarter
Among the key achievements in the first quarter was the milestone of exceeding 1,100 radiation therapy clinics worldwide that have adopted RayStation. This pivotal moment illustrates the growing recognition of RaySearch Laboratories' role in enhancing cancer treatment methodologies.
New Orders and Collaborations
RaySearch secured its first order for DrugLog after Medim, a subsidiary, won a tender from Poland's largest children's hospital, The Children's Memorial Health Institute. Additionally, an order from Heyou Hospital in China marked the third-largest order in the company’s history, valued at approximately SEK 77 million. In terms of revenue recognition, SEK 26 million from this order contributed to the first-quarter results, demonstrating the effectiveness of RaySearch's business strategies.
Leadership Changes
In a noteworthy corporate event during March, Johan Löf, the CEO and board member of RaySearch, sold 2,000,000 B-shares, which represents 5.8 percent of the company’s share capital. This strategic move was part of a conversion process that adjusted the total number of voting rights and shares.
Anticipated Innovations After the Reporting Period
Looking beyond the first quarter, exciting developments emerged in May when RaySearch announced the release of RayStation v2025, the latest iteration of their groundbreaking treatment planning system. Furthermore, it was reported that The Royal Marsden NHS Foundation Trust in the UK successfully treated its first patient using a new adaptive replanning module, showcasing the advanced capabilities introduced in the latest software release.
Contact Information
For further information about RaySearch and its innovations, please contact:
Johan Löf, CEO
Tel: +46 8 510 530 00
Nina Grönberg, CFO
Tel: +46 8 510 530 00
About RaySearch Laboratories AB
RaySearch Laboratories AB (publ) is a leading medical technology company committed to developing advanced software solutions for enhanced cancer treatment. Their flagship product, the RayStation treatment planning system, along with the oncology information system (OIS) RayCare, highlight RaySearch's dedication to improving patient outcomes in oncology care. Among the latest solutions are RayIntelligence, an oncology analytics system, and RayCommand, designed for seamless integration between treatment machines and planning systems.
With its roots as a spin-off of the prestigious Karolinska Institute, RaySearch has expanded its reach to over 1,100 clinics across 47 countries, asserting itself as a key player in the oncology market since its public listing on Nasdaq Stockholm in 2003.
Frequently Asked Questions
What were the key financial metrics for RaySearch in Q1?
RaySearch reported an order intake of SEK 409.6 million and net sales of SEK 331.7 million in the first quarter.
How did RaySearch's profit compare year-over-year?
The operating profit rose to SEK 74.8 million, increasing from SEK 45.8 million from the previous year.
What significant orders did RaySearch receive recently?
RaySearch received its first order for DrugLog from a children's hospital in Poland and a major order from Heyou Hospital in China.
When was the latest software version of RayStation released?
The latest version, RayStation v2025, was launched in May.
What is the focus of RaySearch Laboratories' products?
RaySearch develops innovative software solutions aimed at enhancing cancer treatment and improving patient care.
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