Stable Q3 sales and very strong first nine months of 2022
STOCKHOLM – Oct 20, 2022- ContextVision, a medical technology software company specializing in image processing and image analysis, today reports its third quarter results.
Our Q3 revenues came in at 26.9 MSEK compared to 26.0 in last year, down 3 % from last year. Currencies played a role and had a positive impact of 7MSEK. Our comparison quarter in 2021 was exceptionally strong due to one off bookings that was done during that quarter. Our 9 months revenue came in at 86.6 MSEK compared to 70.7 MSEK last year, resulting in an overall growth of +23% for the first nine months of 2022. EBITDA for Q3 ended at 13.3 MSEK, with an EBITDA margin of 49.4% – yet another increase compared to the previous quarter. Our 9 months EBITDA was a strong 38.1 MSEK compared to 38.0 last year. Cash position has increased to 40.6 MSEK at the end of the quarter.
“We are especially excited to see in-person customer visits picking up again in the Americas, Europe and Asia, and we are receiving very good feedback on our new product features, which we will also be showcasing at RSNA (Radiological Society of North America) later in November” – Gerald Pötzsch, CEO of ContextVision.
The growth in Q3 mainly resulted from strong Asian suppliers and the continued success of our Ultrasound 2D products, for larger OEMs.
In line with the business growth, ContextVision is making further important investments in the organization, with several new key hires.
Summary
The growth strategy, “Focus on the core”, is bearing fruit. Continued top line growth, further increasing margins, strong positive cash flow and a stabilizing OPEX level after the spin-off of Inify Laboratories AB will allow us to significantly invest in further growth.
For further information, please contact ContextVision’s CEO, Gerald Pötzsch, at +46 8 750 35 50 or gerald.potzsch@contextvision.com or visit www.contextvision.com.
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About ContextVision
ContextVision is a medical technology software company specialized in image analysis and artificial intelligence. As the global market leader within image enhancement, we are a trusted partner to leading manufacturers of ultrasound, X-ray and MRI equipment around the world.
Our expertise is to develop powerful software products, based on proprietary technology and artificial intelligence for image-based applications. Our cutting-edge technology helps clinicians accurately interpret medical images, a crucial foundation for better diagnosis and treatment.
The company, established in 1983, is based in Sweden with local representation in the U.S., Japan, China and Korea. ContextVision is listed on the Oslo Stock Exchange under the ticker CONTX.
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This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.