ContextVision AB Q2 Financial Report
ContextVision Sees Highest Q2 Sales
STOCKHOLM - Aug. 17, 2017 - ContextVision reached record-breaking sales in the second quarter 2017. Total sales reached 22,7 MSEK, 24 percent higher than second quarter last year. The progress within digital pathology is on track and a collaboration was initiated with a world-class research team in Uppsala.
ContextVision, a world-leading provider of medical image processing software, saw sales rising in every region. The company experienced particularly strong end-user demand in Asia, where sales increased by 32 percent.
"Chinese manufacturers have increased their focus on new technology to deliver higher quality products. As they strive for this higher quality, our products become even more necessary and attractive," said ContextVision's CEO, Anita Tollstadius.
Sales in Europe increased by six percent and the company saw positive development in the U.S. market, with a 56 percent increase in license sales due to strong orders from existing customers.
Ultrasound continues to be ContextVision's key market; the company's unique products in the category grew by more than 15 percent in the 2-D segment and 27 percent within 3-D. In addition, there was a strong growth from the XR products, with an increase of 61 percent, while MRI climbed 24 percent compared to second quarter last year.
During the quarter, ContextVision initiated a collaboration with a world-class research team in Uppsala to continue its progress within digital pathology.
"We have entered the product development phase within prostate cancer and added to our team. The project is running at full speed, and our new collaboration will add cutting-edge expertise, allowing us to develop unique products," Tollstadius said.
ContextVision will continue to invest significantly in research and development to support the commercial product offering and develop new innovative products and product features - all necessary for a platform of future growth.
For further information, please contact ContextVision's CEO, Anita Tollstadius, at +46 70 337 30 26.
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About ContextVision
ContextVision is a medical technology company specializing in image analysis and artificial intelligence. Its cutting-edge technology helps doctors accurately interpret medical images, a crucial foundation for better diagnosis and treatment. As an industry pioneer for more than 30 years, ContextVision is taking a leading position within deep learning, the latest artificial intelligence technology. ContextVision is currently investing significantly in the field to expand its product portfolio. The present product portfolio includes state-of-the-art image enhancement software for 2D/3D/4D ultrasound, MRI, X-ray and mammography which is used by leading equipment manufacturers worldwide. ContextVision is based in Sweden and listed on the Oslo Stock Exchange under the ticker COV. For more information, please visit www.contextvision.com.