Vitrolife AB (publ) (VITR) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to the Vitrolife Group Q1 2026 earnings call. Thank you for dialing in. I am joined by Pad Eiderskog, the CFO of the Vitrolife Group. And I'd like to start this morning and today's presentation by providing you with an update on the latest dynamics that we are seeing in the reproductive health market. broken this down into three key areas, markets or regions, customers and competitors. So let's start with the markets. What we're seeing is European IVF cycles are remaining stable. We see cycle growth rates starting to increase in North America after a slow start to the year. And what I would point out is we're starting to see in increased seasonality there, whereby January is a particularly slow month and the growth tends to accelerate as the calendar year progresses. Middle East IVF cycle activity is significantly down, as one would reasonably expect, given the geopolitical situation. In APAC, the markets are performing stronger than expected, but I would like to point out that Q1 2025 was exceptionally low. And then the other dynamic that we are seeing is an increase in regulation of genetic testing. We welcome this as we believe it's in the best interests of patients. The VitraLife group has a lot of competence in the area of regulatory affairs and market access in general. I'll now move over to discuss the customers. Consolidation is continuing with chains expanding their footprint in all regions. We see an insourcing of genetic services in the Middle East. I guess that's not surprising given the drop in IVF cycles that I have mentioned and clinics increasingly looking for sources of revenue. We're also seeing an increase in RFPs or tenders from clinic chains. This tends to favor the full portfolio larger players. So again, we s...