Strong Performance in the Second Quarter of 2025
Photocure ASA (OSE: PHO) has announced exceptional financial results for the second quarter of 2025. The company's revenues for Hexvix/Cysview reached NOK 135.6 million, marking a substantial increase from NOK 122.4 million in the same quarter the previous year. Additionally, the EBITDA stood at NOK 14.8 million, although slightly down from NOK 27.8 million in Q2 2024, which included a substantial milestone payment of NOK 21.6 million.
The company has set optimistic expectations for the remainder of the year, predicting product revenue growth of 7% to 11% with improvements in EBITDA year-over-year. Although specific EBITDA guidance is not being issued, Photocure anticipates continued operational leverage and significant growth in milestone payments throughout the year.
Key Insights from CEO Dan Schneider
CEO Dan Schneider expressed satisfaction with the results, highlighting that the company achieved all-time high revenues for Hexvix/Cysview and has maintained a streak of nine consecutive quarters of positive EBITDA. The company’s recent performance can be attributed to solid growth from its U.S. operations, where active accounts have increased by 24%.
Despite a decline in flexible cystoscopy kits, Photocure is optimistic about U.S. unit growth accelerating in the coming years. In Q2 alone, rigid kit sales surged by 21%, highlighting strong market demand.
Expansion of Blue Light Cystoscopy
In line with their strategic plans, Photocure progressed in expanding blue light cystoscopy usage. This included the installation of 12 new Saphira™ towers in the U.S., comprised of three new accounts and nine upgrades of existing facilities. By the end of the quarter, the company boasted 359 active accounts in the U.S., underscoring a strong growth trajectory compared to the previous year.
Across Europe, the company has successfully installed 36 Olympus Visera Elite III systems, enhancing blue light cystoscopy capabilities since their launch earlier this year. Schneider expects this new equipment to boost Hexvix sales in both the Nordic countries and mainland Europe significantly.
Future Partnerships and Innovations
Photocure is keen on exploring new partnerships that combine blue light cystoscopy with innovative products and technologies. A notable example is the partnership with Richard Wolf, which is progressing positively. Furthermore, they are also developing a flexible BLC interim solution ahead of launching a high-definition 4K system.
The company holds a license agreement with Asieris for Cevira, which could unlock potential milestone payments upon regulatory approval in China, further enhancing their financial outlook for 2025. They reaffirm their guidance for product revenue growth and EBITDA improvement this year, indicating confidence in their strategic direction.
Contact Information and About Photocure ASA
For further details, interested parties can contact CEO Dan Schneider or CFO Erik Dahl. Schneider emphasizes that Photocure ASA is dedicated to improving the lives of bladder cancer patients through transformative solutions. Their cutting-edge technology enables better detection, which significantly enhances patient outcomes.
Photocure ASA is based in Oslo, Norway, and is proud to be listed on the Oslo Stock Exchange under the ticker symbol PHO. To learn more about the company’s advancements and future developments, please visit their official website.
Frequently Asked Questions
1. What were the key financial results for Photocure ASA in Q2 2025?
In Q2 2025, Photocure ASA reported revenues of NOK 135.6 million and an EBITDA of NOK 14.8 million.
2. How does the company expect its revenue to grow?
Photocure anticipates product revenue growth between 7% and 11% in 2025, alongside improvements in EBITDA.
3. What initiatives did Photocure ASA undertake in Q2 2025?
The company installed 12 new Saphira™ towers in the U.S. and increased the number of active accounts by 24%.
4. What equipment has been installed in Europe to enhance services?
A total of 36 Olympus Visera Elite III blue light cystoscopy systems have been installed since their launch in Q1 2025.
5. How is Photocure ASA enhancing partnerships for future growth?
Photocure ASA is pursuing collaborations that integrate blue light cystoscopy with innovative technologies, including partnerships with companies like Richard Wolf.
