Senzime Ab · OMXSTO:SEZI
Senzime Ab — Q4 2025 Earnings Presentation
24 slides from Senzime Ab's earnings presentation, Feb 18, 2026
Slide 1: Q4 2025 Full Year Report
Q4 2025 Full Year Report Senzime AB (publ.) Jan-Dec 2025
Slide 2: Full year 2025: Accelerated growth and continued steps towards profitability
Full year 2025: Accelerated growth and continued steps towards profitability Jan-Dec 2025 reported revenues (MSEK) 120 > 90% growth in constant currencies equal to 111,4 MSEK in sales 100 > Underlying gross margin increased, OPEX 80 stable as planned and adjusted EBITDA 71 improved by 16% 60 > Funda
Slide 3: Q4 2025: Strong ending to 2025
Q4 2025: Strong ending to 2025 Q4 reported revenues (MSEK) 30 > 125% growth in constant currencies equal 25 to 31,2 MSEK in revenues. 102% growth in reported currencies to 28,3 MSEK in 20 17 revenues > Growth driven by more key hospital wins, 15 sensor growth, additional guidelines and regulatory ap
Slide 4: Our installed base of TetraGraph monitors keeps growing
Our installed base of TetraGraph monitors keeps growing… 2,139 (893) Total delivered units of TetraGraph systems TetraGraphs delivered in 6,000 2025, of which 416 units in Q4. 5,000 4,000 3,000 2,000 1,000 0 Next-Generation Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025 4
Slide 5: Driving recurring sales of disposable sensors
…driving recurring sales of disposable sensors Patients monitored with the TetraGraph, accumulated 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 440,230 (235,030) 200,000 TetraSens sensors sold 100,000 In 2025 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 6: Product and market mix: Strong growth in all markets
Product and market mix: Strong growth in all markets Jan-Dec 2025 Q4 2025 Currency Reported adjusted Split of sales Split of sales TSEK 2025 2024 Growth Growth per product group (Q4) per region (Q4) US 71 282 42 605 67% 81% Eu rope RoW Devices/other 26 085 14 857 76% 89% 17% 25% Mo nitors Disposable
Slide 7: 2025: Strengthened market shares
2025: Strengthened market shares: Selected key US TetraGraph installations last 12 months Win of the world’s leading hospital system Pacific North-West based hospital system Installation of TetraGraph monitors at multiple sites Contract includes an initial order of 65 next- generation TetraGraph sys
Slide 8: Bringing the Next-generation TetraGraph into our community hospital
“Bringing the Next-generation TetraGraph into our community hospital has transformed how we manage neuromuscular block. It has improved patient safety, standardized our practices, and reduced our annual drug spend by more than $100,000.” Dr. Aaron Persinger Anesthesiologist, Boulder Valley Anesthesi
Slide 9: The European win of Q4
The European win of Q4 “We are proud to be selected as the trusted supplier of our neuromuscular monitoring system to the most prestigious military hospital in the US. This contract is the result of our relentless commitment to patient safety, our > 70+ monitor win in UKscientific with exepcted annu
Slide 10: Snapshot: South Korea
Snapshot: South Korea > Use of the TetraGraph is rapidly growing in South Korea, an Asian market known to be an early adopter of new technologies and therapies > A few hundred classic TetraGraphs are installed in the market, including at some of the leading South Korean hospitals. Next-Gen exepcted
Slide 11: Next-gen TetraGraph system receives regulatory approval in Japan
NHS… Dec 2025: Senzime’s Next-gen TetraGraph system receives regulatory approval in Japan TetraGraphが日本でPMD承認を取得 11
Slide 12: Supportive guidelines and practice recommendations
Supportive guidelines and practice recommendations of quantitative neuromuscular monitoring 2025 German 2025 Society of Japanese Anesthetists Society of (DGAI) 2023 Anesthetists European Society (JSA) 2021 Anesthetists (ESA) guidelines 2020 EI Grupo Espanol Canadian de Rehabilitacion 2019 Multimodal
Slide 13: First Pediatric Guidelines for Neuromuscular Monitoring
First Pediatric Guidelines for Neuromuscular Monitoring Recommending EMG-based quantitative monitoring on children due to its higher accuracy and reliability. 13
Slide 14: Updated Difficult Airway Society 2025 Guidelines
Updated Difficult Airway Society 2025 Guidelines Key Guideline Statement: “Quantitative neuromuscular monitoring should be used to confirm adequate neuromuscular block before tracheal intubation attempts, when feasible.” Relevance to Senzime: • Validates the need for objective measures of neuromuscu
Slide 15: When Is the Right Time to Intubate?
When Is the Right Time to Intubate? Stop Guessing. Measure Readiness. Introducing TetraGraph® Intubation Readiness Indicator. The patent pending indicator (T1/Tc ratio) provides a scientifically validated, objective signal to help clinicians assess when neuromuscular block is sufficient to proceed w
Slide 16: Personalizing anesthesia
Personalizing anesthesia The TetraGraph just keeps getting smarter Introducing the EMGINE Sirius Software Suite Advancing Neuromuscular Monitoring • 7th Generation algorithms refined based on over 6 billion real-world data points enabling Sirius individualized monitoring for unmatched clinical accur
Slide 17: Underlying Gross Margin improves, but US tariffs, currencies and write-off affect
Underlying Gross Margin improves, but US tariffs, currencies and one-time inventory write off affect Gross Margins in 2025 Q4 2025 2024 • Underlying Gross Margin continues to improve due lower production costs Underlying Gross Margin 69,3% 66,7% 64,4% and more favorable product mix • Q4 underlying g
Slide 18: Operating expenses stable and on plan, albeit significant commercial investments
Operating expenses stable and on plan, albeit significant commercial investments Rolling 12-months Direct Operating Expenses (KSEK) 160,000 140,000 • 2025 full year direct expenses increased with 1.9% vs 2024, 120,000 albeit significant investments 100,000 in US commercial team, science and med affa
Slide 19: A clear path towards profitability
A clear path towards profitability Full year EBITDA (KSEK) 2023 2024 2025 Adjusted 0 • 2025 Adjusted EBITDA improved by 16% to -88,374 kSEK -20,000 (-105,507) mainly driven by higher sales and stable OPEX. -40,000 • Q4 Adjusted EBITDA at -19,395 kSEK (-22,253) -60,000 • 74 MSEK in cash end of 2025.
Slide 20: New credit facility of 50 MSEK to secure working capital needs
New credit facility of 50 MSEK to secure working capital needs • A credit facility has been issued at fair market terms by a group of existing shareholders including Crafoord and Segulah as well as DBT Capital, a part of Noba Bank Group. “ A strong vote of confidence. The facility enables us to mana
Slide 21: Backed by a strong investor base
Backed by a strong investor base Largest shareholders Dec 31, 2025 Crafoord family and the Crafoord Foundation 25,896,551 16,5 Segulah Venture AB, Segulah AB, Segulah Medical Acceleration AB 15,870,271 10,1 Fredrik Rapp 11,879,088 7,6 Fjärde AP-fonden 8,187,000 5,2 Avanza Pension 8,399,437 5,3 Union
Slide 22: The Goals and Outlook
The Goals and Outlook The mission Outlook 2026 To safeguard every patient's journey, from anesthesia Maintain strong sales growth in-line with previous years and to recovery. We do this by developing user-friendly generate positive cash flow within the fourth quarter. precision-based monitoring solu
Slide 23: Key take-aways
Key take-aways 30,000 1 25,000 2 3 20,000 15,000 10,000 5,000 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025 HYPER GROWTH WINNING A TECHNOLOGY SHIFT BUILDING BLOCKS IN PLACE • 90% growth in local currencies • Strong demand for Next-gen • Guidelines in place • OPEX stable and improved TetraG
Slide 24: Safeguard every patient's journey, from anesthesia to recovery
So, join us on our mission to Safeguard every patient's journey, from anesthesia to recovery.