RaySearch Laboratories Reports Strong Q3 Performance with Increased Revenue

STOCKHOLM, Nov. 8, 2024 /PRNewswire/ —

Quarterly Financial Overview

For the third quarter (July – September 2024), RaySearch Laboratories showcased impressive financial growth:

• Order intake increased to SEK 253.4 M (up from 240.7 M)
• Net sales were SEK 293.3 M (previously 252.9 M)
• Operating profit rose significantly to SEK 61.8 M (from 28.6 M)
• Profit after tax improved to SEK 45.4 M (compared to 21.6 M)
• Earnings per share (before/after dilution) were SEK 1.32 (up from 0.63)
• Cash flow from operating activities was SEK 60.5 M (down from 124.4 M)
• Order backlog at the end of the period stood at SEK 1,732.0 M (down from 1,966.3 M)

Year-to-Date Financial Highlights

In the nine-month period (January – September 2024), the following results were reported:

• Order intake reached SEK 782.1 M (up from 686.5 M)
• Net sales hit SEK 869.4 M (compared to 722.5 M)
• Operating profit surged to SEK 186.9 M (from 70.5 M)
• Profit after tax totaled SEK 143.5 M (up from 50.0 M)
• Earnings per share (before/after dilution) increased to SEK 4.19 (previously 1.46)
• Cash flow from operating activities was recorded at SEK 382.3 M (up from 340.2 M)

Key Developments in Recent Months

Several notable events occurred during the most recent quarter:

• Connect Proton Therapy Center in the USA has placed an order for RayStation software.
• Iridium Network became the first center in the world to use RayCare with TrueBeam for patient treatment.

Post-Reporting Developments

After the reporting period, RaySearch noted additional significant events:

• GenesisCare in the UK has placed an order for RayStation.
• RaySearch now serves over 100 RayStation customers in China.
• Three centers within the French Unicancer network have opted for RayStation.
• Nina Grönberg was appointed as the new CFO, set to begin in January 2025.
• Institut Curie has chosen RayStation for proton planning.
• The Board has aimed to increase the operating margin target to at least 25% (up from 20%) by 2026.

Upcoming Webcast

CEO Johan Löf and Interim CFO Annika Blondeau Henriksson will present RaySearch’s interim report for July-September 2024 in a webcast on Friday, November 8, 2024, at 10:00 a.m. CET.

Link to webcast: RaySearch Q3, 2024

The information in this interim report complies with EU Market Abuse Regulation and the Swedish Securities Market Act, and was submitted for publication on November 8, 2024, at 7:45 a.m. CET.

Contact Information

For further inquiries, please reach out to:
Johan Löf, founder and CEO, RaySearch Laboratories AB (publ)
Telephone: +46 (0) 8 510 530 00
Email: johan.lof@raysearchlabs.com

Annika Blondeau Henriksson, Interim CFO, RaySearch Laboratories AB (publ)
Telephone: +46 (0) 8 510 530 00
Email: annika.henriksson@raysearchlabs.com

This information was brought to you by Cision: Cision

View the original report here: RaySearch Interim Report

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View original content: Cision Press Release

SOURCE RaySearch Laboratories