Sedana Medical Ab · OMXSTO:SEDANA
Sedana Medical Ab — Q1 2026 Earnings Presentation
20 slides from Sedana Medical Ab's earnings presentation, Apr 23, 2026
Slide 1: Q1 2026 Report
Q1 2026 Report Johannes Doll, CEO Johan Spetz, CFO Peter Sackey, CMO April 23, 2026 <
Slide 2: Disclaimer
Disclaimer Forward-looking statements This presentation may contain certain forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on Sedana Medical’s busines
Slide 3: We have delivered positive Group EBITDA despite slight sales decrease
We have delivered positive Group EBITDA despite slight sales decrease Our 3 priorities Achieve growth in our Reach EBITDA Make headway ex-US business profitability towards US approval • All-time-high FY 2025 net • Positive Group EBITDA in • Primary endpoint met and sales Q1 (5% at constant Fx rates)
Slide 4: We have accomplished a successful turn-around after Covid-19
We have accomplished a successful turn-around after Covid-19 Net Sales Ex-US EBITDA Group EBITDA Successful restructuring SEK million Percent Percent after Covid-19 200 10 3 • Streamlined corporate 3 headquarters and 179 improved overall spend 154 -5 effectiveness -9 -17 • Shifted resources to the 1
Slide 5: We are on track to deliver on our financial targets 2026
We are on track to deliver on our financial targets 2026 Financial Targets FY 2026 YTD: Mid-to-high single digit FY ex-US EBITDA +10% (+11% excl. FX effects) YTD: Approaching group-level EBITDA +3% profitability (+5% excl. FX effects) 5 <
Slide 6: Germany has had a difficult quarter due to lower ICU occupancy
Germany has had a difficult quarter due to lower ICU occupancy Net Sales • Germany had 15% less ICU admissions with MSEK severe acute respiratory infections (SARI) in Q1 than the previous year (2026 flu season did not -19% reach 2025 levels in ICU patients and decline 32.011 started earlier) 25.974
Slide 7: Market headwinds from low patient numbers have continued to affect performance in Germany
Market headwinds from low patient numbers have continued to affect performance in Germany Weekly number of severe acute respiratory infections with ICU treatment Comments Source: Robert Koch Institut, based on 64 Sentinel hospitals • The 2025/2026 flu season has led to a lower number 170 of ICU admi
Slide 8: 'Other Direct Markets' showed lower growth due to strikes in Spain and restructuring in France
‘Other Direct Markets’ showed lower growth due to strikes in Spain and restructuring in France Net Sales • Spain continued robust growth, albeit at lower- MSEK than-usual levels due to nation-wide doctors +2% strikes (one week each month since January). 20.499 20.925 • France showed flat year-over-y
Slide 9: Distributor markets delivered a strong Q1
Distributor markets delivered a strong Q1 Net Sales • Distributor market sales are generally more MSEK volatile due to irregular ordering patterns and +16% higher stock levels 3.792 • Focus is on providing targeted support to 3.278 prioritized partners, laying the groundwork for growth in 2026. • Ro
Slide 10: US approval would meaningfully expand our addressable market
US approval would meaningfully expand our addressable market Europe (direct markets) United States Ventilated adult ICU patients p.a. ~1 million >2 million Market potential inhaled sedation (low- to mid-single digit 3-4 BSEK 10-12 BSEK growth p.a.) Status • Only approved ICU therapy • Two successful
Slide 11: We are preparing for launching ourselves in the US
We are preparing for launching ourselves in the US Market Strategy • The United States have • Therefore, we are preparing to build a commercial a market potential of US subsidiary and launch our therapy 10-12 BSEK (vs. 3-4 ourselves BSEK in today’s direct - Keep control of our assets and capture mor
Slide 12: Our preparations for NDA submission are on track
Our preparations for NDA submission are on track Progress towards US approval Upcoming milestones ✓ Two successful Phase III trials • On track with regards to NDA submission mid 2026 - Primary endpoint met in both studies • 10 months standard review time (or 6 - No new safety findings months in case
Slide 13: Secondary endpoints showed several potential benefits
Secondary endpoints showed several potential benefits (subject to approval and label decision by the FDA) Clinical results Relevance in practice • Greater opioid • Opioids cause (dose-dependent) issues in the ICU, such as constipation, respiratory depresssion, withdrawal and delirium reduction vs. b
Slide 14: 31 prominent sites were involved in the trials
31 prominent sites were involved in the trials – building a strong platform for KOL engagement and launch success INSPiRE-ICU1 INSPiRE-ICU2 • Vanderbilt • Rush University • University of Colorado • Columbia University • Cleveland Clinic • Massachusetts General Hospital • UT Southwestern • University
Slide 15: Patients are now being treated under our Early Access Program
Patients are now being treated under our Early Access Program The EAP Benefits Status update • An FDA pathway to gain Besides helping difficult to • Approximately 10 access to an investigational sedate patients, the Early prominent US hospitals medical product before full Access Program brings value
Slide 16: Financial result in Q1 2026
Financial result in Q1 2026 Net sales (MSEK, 12m rolling) Net sales Q1’26: 53.4 (57.5) MSEK, -7% y/y (-2% excl. fx) 200 • Sales in Germany decreased 19% y/y (-15% excl. fx). Germany was 180 negatively impacted by low ICU occupancy rate. 160 • Other direct markets report growth of 2% y/y (+7% excl. f
Slide 17: Cash flow and available funds
Cash flow and available funds Change in cash position (MSEK) excl short-term deposits • Cash per end of Q1’26: 81 MSEK compared to 91 MSEK at year- 40 end 2025. 20 0 • Change in cash of -10 MSEK mainly driven by investments in -20 intangible assets of -13 MSEK, which are mainly US-related. -40 • Cas
Slide 18: Largest shareholders Mar 31, 2026
Largest shareholders Mar 31, 2026 No of shares Share Linc AB 14,857,233 15.0% Anders Walldov direkt och indirekt (Brohuvudet AB) 10,000,000 10.1% Lannebo Kapitalförvaltning 8,748,534 8.8% Premier Miton Investors 4,966,327 5.0% Ola Magnusson direkt och indirekt (Magiola AB) 4,312,288 4.3% Sten Gibeck
Slide 19: 3 reasons to believe in Sedana Medical
3 reasons to believe in Sedana Medical A therapy with A profitable and An opportunity to enter compelling benefits for growing core business the US, the highest patient and hospitals in Europe potential market • Clinically proven benefits • All-time-high sales in FY • Positive results in both for ve
Slide 20: A secanamedical
A secanamedical