C-Rad AB (publ) (CRAD_B) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to our Q3 presentation. We had a challenging quarter, but let me kick off by zooming out a bit. Let me briefly take you through C-Rad's long-term strategy and our progress for Q3. C-Rad is active in the field of radiation therapy, and approximately half of all cancer patients have radiation therapy as part of their treatment. And we continue to invest in our world-leading products. C-Rad is in a very strong position with our whole portfolio of interfacing all major Linux, Proton and CT vendors. This is our most extensive interoperability portfolio ever. C-Rad already today has a global reach, but we are constantly looking into market expansions, and we do this step by step. Growing our global presence is strengthening C-Rad's resilience. And in the third quarter, we continue to see the result of our enhanced focus in the less mature Southeast Asian markets. We are ramping up our investment in Latin America, where we had a successful training in connection with Astro, the medtech show Astro, for the Latin American distributors. And why is that important? CWAD sees an untapped potential in many markets, which we want to capture at the right time. This quarter, we had several US retrofit wins on Varian Linux. And it's important to us for two reasons. Number one, addressing the Linux that do not yet have surface-guided radiation therapy or SDRT. And number two, strengthening our position in the US market. And finally, CWED has a good financial stability. And for this quarter, we have displayed a solid profitability despite the headwinds in the EMEA region, while we at the same time are investing for growth. So let's take a look at our Q3 numbers. We ended the third quarter with an order intake of 100 million SEC, a decline of 40% or 38% in constant currencies fro...