Raysearch Laboratories Ab Class B · OMXSTO:RAY_B
Raysearch Laboratories Ab Class B — Q2 2026 Earnings Presentation
22 slides from Raysearch Laboratories Ab Class B's earnings presentation, Aug 13, 2026
Slide 1: Interim Report Q2 2026
INTERIM REPORT Q22026 | AUGUST13, 2026
Slide 2: Agenda
AGENDA INTRODUCTION Q2 IN BRIEF FINANCIAL DEVELOPMENT SUMMARY AND OUTLOOK Q&A
Slide 3: Introduction
vi INTRODUCTION
Slide 4: RaySearch Today
RAYSEARCH TODAY 472 employees and41 nationalities 26 163 software industrial partners 11 MILLION cancer patients treated releases 10.3 billion SEK 13 sales offices and19 distributors in accumulated revenues 1,227 RayStation clinics in51 countries
Slide 5: Revenues – Solid Performance Over Time
REVENUES– SOLID PERFORMANCE OVER TIME 1400 1344 Support revenue Licenses, hw, training, other 1192 1200 CAGR 20% 1022 1000 844 820 800 719 742 MSEK 652 641 606 627 585 600 532 521 398 544 408 373 400 512 285 518 204 485 524 182 356 416 473 200 118 126 84 256 269 323 63 159 179 198 244 39 61 98 105 1
Slide 6: Quarterly Fluctuations, Growth Every Year
QUARTERLY FLUCTUATIONS, GROWTH EVERY YEAR 600 1,344 1,400 1,270 1,192 1,200 500 1,022 1,000 400 844 742 800 MSEK 300 627 652 641 585 532 600 200 398 400 285 182 204 100 118 126 200 63 84 0 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Net Sales (Qua
Slide 7: Q2 in Brief
vi 02 IN BRIE
Slide 8: Delayed USA Orders Weighed on Second Quarter
DELAYED USA ORDERS WEIGHED ON SECOND -QUARTER 272 -8% 49% 10% Net sales Organic Recurring EBIT MSEK growth support of total margin revenue
Slide 9: Last Twelve Months – More Consistent Performance
LAST TWELVE MONTHS – MORE CONSISTENT PERFORMANCE 1,270 9% 41% 22% Net sales Organic Recurring EBIT MSEK growth support of total margin revenue
Slide 10: Q2 Business Update
Q2 BUSINESS UPDATE Soft US market impacting results Postponed not lost business, nine RayStation orders worth 5 MUSD in early Q3 Key orders First RayStation order in Vietnam Yonsei CancerCenteradded RayStation licenses for carbon ion therapy Five Pinnacle replacements in Germany UNC School of Medici
Slide 11: Dana-Farber Order
DANA-FARBER ORDER Dana-Farber in USA selects RayStation and RayCare for proton therapy S250-FIT proton machine by Mevion Marie chair and CT by Leo Cancer Care The combined system is supported in RayStation v2025 First treatment on Juneth4at Stanford
Slide 12: Other Q2 Highlights
OTHER Q2 HIGHLIGHTS Iridium in Belgium treated first patients with RayStation and RayCare on TrueBeam Anthony Lomax to further strengthen RaySearch’s leading proton position Successful ESTRO congress in Stockholm 2026 product releases Introduction of LTIP Share buyback of 200 MSEK MAY 11th 2026
Slide 13: Financial Development
FINANCIAL D -FLOPM EN] RaySeqreh YO Laboratories
Slide 14: Order Intake
ORDER INTAKE Weaker quarter – sustained growth path 1,276 1,277 Stable demand not reflected in signed 1,258 1,209 1,251 1,223 orders in Q2 410 1,087 1,100 1,087 330 356 Order intakeincreased23% MSEK 290 305 295 296 MSEK 253 241 Still some currency headwind vs. LY Order backlog 1,691 MSEK end of Q2 B
Slide 15: Net Sales and Operating Margin by Quarter
NET SALES AND OPERATING MARGIN BY QUARTER Disappointing Q2 net sales 375 Net sales-11% to 272 (305) MSEK 323 332 332 319 305 293 27% 290 272 Organic growth -8% 25% 24% 23% 23% 23% EBIT of 28 (36) MSEK with MSEK 21% MSEK EBIT marginof 10 (12)% 12% 10% Positive effects from currency revaluation 4 MSEK
Slide 16: Support Revenue Development
SUPPORT REVENUE DEVELOPMENT 49% recurring support revenue in Q2 due to low license sales 491 507 517 524 523 525 Support revenue of 132 (131) MSEK 473 462 449 51 Adjusted for currency +4% growth 41 17 40 31 MSEK 43 MSEK 40 42 32 186 185 160 165 164 133 131 125 107 115 120 131 125 131 130 139 123 133
Slide 17: Cash Flow Development
CASH FLOW DEVELOPMENT Strengthened cash flow 262 Free cash flow of +50-1)( MSEK 198 176 154 Positive effects from working capital 97 82 98 Cash flow is always in focus MSEK 47 MSEK 14 24 91 30 64 1 66 50 -1 -82 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 24 24 24 25 25 25 25 26 26 Free cash flow Free cash flow, R12
Slide 18: Share Buyback and New Credit Facility
SHARE BUYBACK AND NEW CREDIT FACILITY Cash balance end of Q2: 213 MSEK Dividend paid: 137 MSEK in May Share buyback: 142 MSEK in June Total sharebuy back: SEK 200 M With additionally 58 MSEK in July Treasuryshares acquiredto secure shares for long-term incentiveprogram participants Additionalrepurch
Slide 19: Summary and Outlook
fv SUMMARY AND OUTLOOK RaySeqreh YO Laboratories
Slide 20: Summary and Outlook
SUMMARY AND OUTLOOK Weak H1 development, but long -term growth opportunities unchanged Robust USA order momentum in early Q3 Leader in a growing global proton therapy market RayStation/RayCare/ TrueBeam online adaptive treatments support broader adoption Strong H2 expected and EBIT margin target of
Slide 21: Q&A
Q&A
Slide 22: Thank You
THANK YOU Q3 reportreleased on November 3, 2026 If you have questions, please contact: ir@raysearchlabs.com
RaySearch Laboratories — Q2 2026 Earnings Presentation on 6ix