Raysearch Laboratories Ab Class B · OMXSTO:RAY_B
Raysearch Laboratories Ab Class B — Q2 2025 Earnings Presentation
23 slides from Raysearch Laboratories Ab Class B's earnings presentation, Aug 8, 2025
Slide 1: RaySearch 2025 Interim Report Quarter 2
RAYSEARCH | 2025 INTERIM REPORT QUARTER 2
Slide 2: Second quarter 2025 summary and significant events
In the second quarter of 2025, net sales decreased by 4.4 percent compared to the same period last year. Currency-adjusted the decrease was 0.4 percent. Revenue from licenses decreased by 19.8 and revenue from support increased by 13.9 percent. Operating profit amounted to SEK 36.4 M (79.3) in the s
Slide 3: CEO Comments
CEO COMMENTS WEAKER-THAN-EXPECTED SALES AND EARNINGS ANOTHER SALE OF RAYCARE TO A CENTER WITH VARIAN TRUEBEAM Sales for the second quarter of the year amounted to SEK 305 M (319), On July 21, we announced that AKSM/Oncology had selected RayCare down 4 percent (0 percent at unchanged exchange rates)
Slide 4: Financial Information: order intake
FINANCIAL INFORMATION RaySearch operates in a market with uneven order flows where individual orders can have a substantial impact on revenue recognition between the quarters and, because the company has limited (less than 10 percent) variable costs for license revenue, operating profit is affected
Slide 5: Revenue
REVENUE In the second quarter of 2025, net sales amounted to SEK 304.9 M In the first half of 2025, net sales amounted to SEK 636.6 M (576.1), an (318.9), a decrease of 4.4 percent compared to the same period last increase of 10.5 percent. year. The change in sales at unchanged currencies was -0.4 p
Slide 6: Operating profit
OPERATING PROFIT During the second quarter of 2025, the operating profit decreased to SEK Amortization of capitalized development costs amounted to SEK 46.2 36.4 M (79.3), which corresponds to an operating margin of 11.9 (24.9) M (46.4) for the second quarter of 2025, representing a decrease of 0.5
Slide 7: Taxes and financial position
Taxes FINANCIAL POSITION The tax cost for the second quarter 2025 amounted to SEK -8.8 M (-20.1), As of June 30, 2025, RaySearch’s total assets amounted to SEK 1, 989.1 which corresponds to an effective tax rate of 22.3 percent (24.6). For the M compared to SEK 2,091.2 M as of December 31, 2024. As
Slide 8: The Company's Share and Share Ownership
THE COMPANY’S SHARE AND SHARE OWNERSHIP As of June 30, 2025, the total number of registered shares in RaySearch was 34,282,773, of which 5,654,975 were Class A and 28,627,798 Class B shares. The quotient value is SEK 0,50 and the company’s share capital amounts to SEK 17,141,386.50. Holders of Class
Slide 9: Other Information
OTHER INFORMATION DECISIONS AT THE 2025 ANNUAL GENERAL MEETING ENVIRONMENT AND SUSTAINABILITY The Annual General Meeting of RaySearch Laboratories AB (publ) was Sustainability is a key aspect of RaySearch’s strategy and operations, held on May 22, 2025, in Stockholm. Information regarding the resolu
Slide 10: Board Assurance
BOARD ASSURANCE The Board of Directors and CEO give their assurance that this year-end report gives a true and fair view of the Group’s and the Parent Company’s operations, position and earnings, and describes the significant risks and uncertainties facing the Parent Company and the companies includ
Slide 11: Consolidated Statement of Comprehensive Income in Summary
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME IN SUMMARY 2025 2024 2025 2024 R12 2024 AMOUNTS IN SEK 000s Note Apr–Jun Apr–Jun Jan–Jun Jan–Jun Jul 25–Jun 25 Jan–Dec Net sales 2,3 304,866 318,865 636,564 576,061 1,252,532 1,192,029 Cost of goods sold 1 –27,897 – 23,742 –54,367 – 46,844 –107,015 – 99
Slide 12: Consolidated Statement of Financial Position in Summary
CONSOLIDATED STATEMENT OF FINANCIAL POSITION IN SUMMARY AMOUNTS IN SEK 000s Note 2025-06-30 2024-06-30 2024-12-31 ASSETS Intangible fixed assets 560,484 551,030 548,169 Right-of-use assets 415,982 483,312 456,567 Tangible fixed assets 62,184 80,803 70,096 Deferred tax assets 6,107 2,823 3,864 Other
Slide 13: Consolidated Statement of Cash Flow in Summary
CONSOLIDATED STATEMENT OF CASH FLOW IN SUMMARY 2025 2024 2025 2024 R12 2024 AMOUNTS IN SEK 000s Note Apr–Jun Apr–Jun Jan–Jun Jan–Jun Jul 24–Jun 25 Jan–Dec Profit/loss before tax 39,568 81,489 110,586 127,102 246,349 262,865 Adjusted for non-cash items 1 69,423 69,002 173,072 121,289 308,277 256,494
Slide 14: Parent Company Income Statement in Summary
PARENT COMPANY INCOME STATEMENT IN SUMMARY 2025 2024 2025 2024 R12 2024 AMOUNTS IN SEK 000s Note Apr–Jun Apr–Jun Jan–Jun Jan–Jun Jul 24–Jun 25 Jan–Dec Net sales 2,3 235,305 278,338 497,966 475,999 996,980 975,013 Cost of goods sold 1 –7,038 – 6,247 –13,916 – 14,748 –24,937 – 25,705 Gross profit 228,
Slide 15: Parent Company Balance Sheet in Summary
PARENT COMPANY BALANCE SHEET IN SUMMARY AMOUNTS IN SEK 000s Note 2025-06-30 2024-06-30 2024-12-31 ASSETS Intangible fixed assets 6,311 7,047 7,012 Tangible fixed assets 41,825 47,229 43,689 Shares and participations 3,958 3,958 3,958 Deferred tax assets 2,772 - 1,892 Long-term receivables Group comp
Slide 16: Notes, Group
NOTES, GROUP NOTE 1 ACCOUNTING POLICIES The Parent Company’s current receivables mainly comprise receivables This interim report has been prepared in accordance with IAS 34 Interim from Group companies and external customers. Financial Reporting and the Swedish Annual Accounts Act. The accoun- ting
Slide 17: Revenue by type and geographic market
2025 2024 AMOUNTS IN SEK 000s Jan–Jun Jan–Jun Change % Revenue by type Licenses 296,534 282,379 5% Support (incl. warranty support) 255,928 221,431 16% Hardware 69,483 52,166 33% Training and other 14,619 20,085 -27% Total revenue by type 636,564 576,061 11% 2025 2024 AMOUNTS IN SEK 000s Apr–Jun Apr
Slide 18: Note: Financial Instruments
NOTE 4 FINANCIAL INSTRUMENTS impact the consolidated operating profit by approximately +/- RaySearch’s financial assets and liabilities comprise billed and unbilled SEK 12.1 M in the second quarter of 2025, while a corresponding receivables, cash and cash equivalents, accrued expenses, accounts chan
Slide 19: Group Quarterly Overview
GROUP QUARTERLY OVERVIEW 2025 2024 2023 AMOUNTS IN SEK 000s Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Order intake Total order intake 241,219 409,629 305,048 253,364 290,251 238,526 317,749 240,693 Income statement Net sales 304,866 331,698 322,665 293,303 318,865 257,196 299,640 252,883 Change in sales. % –4.4 29.0
Slide 20: Definitions of Key Ratios
DEFINITIONS OF KEY RATIOS The interim report refers to a number of non-IFRS financial measures that described below. The calculation of the IFRS measures can be found on are used to provide investors and company management with additional the company’s website raysearchlabs.com. information to asses
Slide 21: About RaySearch Business Model
ABOUT RAYSEARCH BUSINESS MODEL RaySearch Laboratories AB (publ) is a medical technology company that RaySearch’s main revenue is generated by customers paying an initial develops innovative software solutions for improved cancer treatment. license fee for the right to use RaySearch’s software and an
Slide 22: Calculation of Financial Measures Not Included in the IFRS Framework
CALCULATION OF FINANCIAL MEASURES NOT INCLUDED IN THE IFRS FRAMEWORK 2025 2024 2025 2024 2024 AMOUNTS IN SEK 000s Apr–Jun Apr–Jun Jan–Jun Jan–Jun Full year Operating expenses Selling expenses –90,086 –90,086 –179,285 –154,521 –326,585 Administrative expenses –71,550 –71,550 –139,287 –123,698 –249,58
Slide 23: Return on equity, equity/assets ratio and net debt
Percent 2025-06-30 2024-06-30 2024-12-31 Return on equity Profit for the period 30,762 98,129 203,513 Average equity 885,454 751,789 805,970 Return on equity, percent 3.5% 13.1% 25.3% Percent 2025-06-30 2024-06-30 2024-12-31 Equity/assets ratio Equity at the end of the period 848,933 768,345 203,513
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