Digitization, AI and increasing security requirements are drivers that are fundamentally changing how both we and our customers work. For us, this is about embracing change and converting new technologies into customer value. With a corporate culture that encourages innovation and ideas, and puts them into practice, we are continuing to strengthen Sectra’s position in medical IT and cybersecurity—areas where our solutions make a difference in people’s lives, health and safety all over the world.

The Group’s net sales exceeded SEK 1 billion for the first time in a single quarter. This positive performance was made possible as a result of satisfied and loyal customers. All of our operating areas are growing and reporting increased operating profit, despite the negative impact of currency effects and delays in product deliveries in Secure Communications.

Our ongoing transformation of the business model from software sales to service deliveries helped to increase the total share of recurring revenue by 5 percentage points to close to 70% during the fiscal year. This also led to a more even performance between quarters compared with our past seasonal trends, which is clear from our earnings outcomes for the last three quarters.

AI is an enormous wave rolling in and no one knows exactly how it will affect the future. We are choosing to ride this wave and course-correct as we go, rather than paddling behind and struggling to catch up.

At a time when politics, technology and business risks are becoming increasingly interconnected, our ability to combine innovation with high security and long-term trust is growing in importance. We will continue capitalizing on this and other strengths to make the world a healthier and safer place. Our stable financial position gives us the ability to continue investing in innovation and capacity for the future. Together with our customers, we are shaping and driving developments forward, which means that our speed is a crucial strength. The trust we receive from our customers is not something we take for granted. We must continue to earn it and build on it every day.

To maintain a secure society, it is vital to always be able to communicate classified information in a secure manner. The new orders from Swedish authorities demonstrate the trust and the central role that Sectra holds in the work to strengthen national security, and we are working hard to meet the increasing needs.

At Grady Health System, innovation and creativity translate into better outcomes for the communities we are privileged to serve. The integration of AI-enabled diagnostic workflows positions us to improve efficiency, support clinical decision-making, and continue advancing access to high-quality care in our communities.

We selected Sectra Amplifier primarily to simplify the administrative and technical hurdles of traditional AI deployment, leveraging the ‘AI as a Service’ model to streamline procurement and scalability. By using Sectra Amplifier Services, Grady consolidated dozens of potential vendor contracts into a standardized, centralized approach, allowing us to access a curated library of FDA-cleared tools without negotiating separate legal agreements for each new algorithm. This marketplace approach, combined with a unified IT infrastructure that reduces the system's ‘IT footprint’ and security risks, enabled us to rapidly pilot and deploy specialized AI, such as critical care triage and cancer screening.

AI brings clear clinical benefits, but testing, implementing, and evaluating new solutions can place significant IT demands on healthcare providers. Sectra Amplifier Services removes these barriers, enabling organizations like Grady to efficiently integrate AI into their workflows. Grady’s commitment to leveraging new technology for improved patient outcomes is commendable, and we are proud to be their partner as they bring AI into daily clinical use.

We believe that this solution will improve radiology workflows across Unity Health Toronto. This cloud-based platform will unify our imaging environment across all three hospital sites, enabling real-time collaboration among radiologists and supporting more consistent, efficient, and seamless patient care.

Radiologists need imaging platforms that support their entire diagnostic workflow, especially in complex, multi-site environments. Sectra One Cloud helps to foster a more streamlined imaging environment that supports efficient collaboration and contributes to a more sustainable workload, allowing radiologists to focus on clinical decision-making and patient care.

It’s inspiring to see these hospitals take this important step toward a more secure and connected imaging service. When multiple hospital Trusts move together into a shared cloud environment, it strengthens regional resilience and supports secure collaboration across organizational boundaries, helping improve patient care across London.

With the acquisition of Oxipit, we're adding a new dimension to our AI offering: autonomous AI that can genuinely reduce radiologists' workload in daily clinical practice. Equally important, we're acquiring the clinical validation and regulatory expertise required to deploy this category of AI responsibly at scale. The acquisition complements our vendor-neutral AI marketplace, which remains a cornerstone of our strategy, and our own rapid innovation such as MCP-powered system administration. Together, these moves demonstrate clear leadership in AI for diagnostic imaging and position us to help healthcare providers manage rising imaging volumes and address staff burnout.

It is inspiring to see Norway take a coordinated national approach to strengthening specialist training. The accelerating change in healthcare, driven by technological and clinical progress—not least, AI—means clinicians need ongoing education more than ever. By investing in a unified platform, Norway is enabling efficient, modern learning and setting a clear direction for maintaining high standards of competence and quality at scale.

By giving all healthcare regions access to the same platform, it becomes easier to share and reuse educational and quality‑assurance material across the country. The image‑sharing solution will play an important role in building efficient national training programs and in enabling laboratories to more easily compare methods and quality. This is an important step towards improved patient care.

The future of enterprise imaging isn't about navigating deeper into configuration screens. It's about telling your system what you need and having autonomous agents make it happen: workflow logic, reading lists, site configurations, user provisioning, all in plain language, all executed securely and instantly. That's not a better interface. That's an entirely new operating model for healthcare IT.

At HIMSS, our Operations AI prototype powered by MCP offers an early look at what this means in practice: consistency and scalability across environments without the overhead, and AI that empowers clinical and operational teams to work smarter.

I am proud that Sectra has once again received a number one ranking from our customers in independent evaluations. Satisfied customers stay and grow with us, which is the ultimate proof that we deliver value for businesses with the highest demands on trust, quality and reliability.

Financially, our underlying operating profit trend was positive for the nine-month period, although the outcome did not surpass the figures for the comparative period, which included significant positive non-recurring effects from a patent settlement. The outcome for this year was also negatively impacted by exchange-rate movements and delays in product deliveries in Secure Communications. As previously communicated, these delays are expected to have a relatively powerful impact on the financial outcome of the security operations for the remainder of the fiscal year. We do not expect these effects to subside until next year.

In our medical operations, the ongoing transition to service sales is progressing. Increased production volumes from new customer deployments are contributing to growing sales and profitability. Imaging IT Solutions’ sales surpassed SEK 3 billion for the rolling 12-month period, with the US operations displaying the fastest growth.

We believe that by combining our in-depth understanding of our customers’ businesses with AI technology, we have an opportunity to further strengthen our offerings and help our customers enter this new reality. We have a stable base of long-term recurring revenue, a very low churn rate, and are growing in pace with our customers. This provides us with a strong position as we continue to invest in innovation, new business and the transition to cloud-based services.

The ability to autonomously clear high-confidence normal cases mark a transformative step for radiology. By combining clinical confidence with intelligent automation, we can expand capacity, reduce radiologist workload, and generate substantial financial benefits through higher productivity and lower cost. We look forward to continuing to sell Oxipit products in Europe and advancing the necessary regulatory approvals to bring it to more markets worldwide.

Strengthened security around patient data is a key driver behind the transition to cloud services that many NHS trusts are now initiating. Cloud-based solutions also need to scale as demands increase and support new ways of working over time, while remaining reliable in daily operations and flexible enough to grow with future needs. James Paget University Hospitals NHS Foundation Trust has a clear focus on creating such an environment, and we are pleased to continue our collaboration as they take this step.

Moving to a cloud-based imaging environment is a natural next step for us as we look to support our clinicians. By consolidating imaging into a single, shared platform, we can streamline workflows and make it easier for teams to collaborate and access the information they need across sites. Sectra One Cloud gives us the flexibility to manage growing imaging volumes while supporting more consistent ways of working, ultimately helping our clinicians focus on timely, high-quality care for patients.

Across the NHS, transitioning to the cloud has become a strategic priority to support more connected and sustainable care delivery. For trusts in the North West London Region, this transition creates a shared foundation for regional collaboration and long-term planning, while providing the flexibility to integrate new capabilities such as AI into clinical workflows. The cloud solution also strengthens the trusts’ cybersecurity, which is increasingly important in today’s healthcare environment. As a result, the trusts can scale and innovate as clinical and organizational needs evolve.

The future of pathology has arrived at Guelph General Hospital, this is a transformative moment for our lab and hospital. With digital pathology in place, we can review cases with more accuracy, collaborate seamlessly no matter where we are, and deliver timely diagnoses resulting in faster management decisions for our patients. Digital pathology enables us to support both our clinicians and the people we care for through more precise and efficient diagnostics.

Expanding our Sectra One Cloud platform with digital pathology was a logical next step. With this capability enabled, our clinicians have a single, comprehensive view of imaging across radiology and pathology, which is essential for complex cases.

This expansion into digital pathology is a great accomplishment for both Guelph General Hospital and Sectra. Last year marked the 10-year anniversary of Sectra Digital Pathology and recently we are seeing increased demand for digitizing laboratories across Canada. This implementation shows how Sectra can leverage our global experience to quickly drive modernization of lab workflows and integrate pathology and radiology workflows to improve collaboration among specialists in Canada.

We value the trust and strong relationships we have built with our customers, and we are pleased to see this reflected in the KLAS scores. Maintaining high satisfaction while transitioning to our cloud-based services requires consistency, close collaboration, and a strong focus on user feedback. This recognition underscores Sectra’s unwavering commitment to supporting our customers’ daily operations and long-term objectives.

By using Sectra PACS, our productivity went up on day one. Beyond that, we have seen real outcomes; for example, we have expanded more easily, added new hospitals, and launched new service lines, digital pathology being a major one we couldn’t do before. We are also moving to the cloud with Sectra PACS, and that opens up even more opportunities. There have been research and development collaborations as well, and we can now do more directly inside Sectra PACS. Our radiology department hardly relies on third-party visualization tools anymore […]

For us, it’s important to have an innovative partner who can offer scalable and future-proof solutions. Since we’re already convinced by Sectra’s radiology solution, providing the functionalities for other areas is the next logical option.

To continue delivering high-quality care despite growing imaging volumes and limited resources, healthcare providers need to equip their physicians with solutions optimized for efficient diagnostics—and ensure smooth, straightforward collaboration across specialties. TUM Klinikum’s decision to take this step reflects their commitment to providing the best possible care for their patients.

Collaborating with Kameda Medical Center for Sectra’s first digital pathology project in Japan is a significant milestone for us. We are honored to receive an order from such a respected institution and to work closely with Professor Fukuoka. This demonstrates our commitment to being a trusted partner for Japanese healthcare providers, supporting their adoption of digital pathology and enabling more efficient diagnostics to improve patient care.

After nearly a decade of successful operation as a fully digital pathology laboratory, we are entering a new phase and have made a strategic decision to transition from a scanner-restricted workflow to a comprehensive digital pathology module. To support this evolution, we are partnering with Sectra, whose platform offers robust compatibility, interoperability, and data security.

We live in dramatically and rapidly changing times, and as a wise Board member once said to me many years ago: ‘Where there is change, there is margin.’ It’s simply a question of being faster than the competition. Our strength is based on the trust we have built over time. We have been quick to adopt new technology and seize new business opportunities, we have the highest levels of customer satisfaction in the market and—not least—we have fantastic employees. This has resulted in loyal, returning customers, a growing order book and the market’s leading solutions for managing essentially all medical images in the cloud.

Several customers who signed comprehensive service contracts during the previous fiscal year have now entered the pilot phase. The focus is on optimizing services before major deployments. We expect to gradually increase the volumes from these contracts in the coming years. However, it is important to note that implementing these large projects will entail major increased costs, including costs for cloud computing, until our revenue starts to gain momentum after a quarter or two. This will have a negative impact on the rest of the fiscal year.

We are also experiencing product delivery delays in Secure Communications that will have a negative impact on the full year. Long development cycles and approval processes for encryption solutions as well as changing threat scenarios may have such effects. In the case of Secure Communications, these effects—which have been quite substantial—will continue for the rest of the fiscal year and are not expected to subside until next year. Otherwise this operating area has a strong positive trend, and we believe that the global security situation will continue to drive demand for products and services that can strengthen information security in society.

The transition to selling cloud-based services is an investment in the future that requires persistence and a long-term focus. While this investment is putting pressure on our short-term financial performance, we are building a stronger and more resilient Sectra in the long term.

By moving our existing Sectra solution to the cloud, we can spend less time managing infrastructure and more time supporting our clinicians. It gives us the security and reliability we need to deliver imaging services seamlessly across all our hospitals. Consolidating all four trusts into a single, unified instance will strengthen our clinicians’ collaboration capabilities across sites, as they will gain seamless access to and share patient information across the region.

Migrating imaging to the cloud not only strengthens security but also makes it easier to integrate emerging technologies such as AI into clinical workflows. This step ensures the trusts can scale and innovate without the constraints of on‑premises infrastructure.

Region Halland’s decision reflects their strong commitment to enhancing cancer care. Regions across Sweden are recognizing the value of digital pathology and leading the way in its adoption, and with Region Halland, we have now helped over 60% of Sweden’s regions take this important step. We look forward to supporting Halland in this transformation and helping them realize the full potential of a digital workflow.

Until now, the US market has largely been dominated by legacy reporting solutions. As the market landscape is now changing, we see a clear opportunity to offer radiologists a fully integrated reporting experience within Sectra’s diagnostic application. Drawing on more than two decades of success in Europe and other markets, we now look forward to providing viewer-integrated reporting to our US customers, further strengthening their diagnostic workflow.

Radiologists are drowning in complexity—they need tools that simplify, not add more layers. With integrated photon-counting CT, AI-powered reporting, and subspecialty workflows built into the workstation, Sectra is delivering solutions that don’t just reduce strain—they transform diagnostic speed and accuracy. At RSNA 2025, we’re showcasing what it means to put radiologists back in control, while pushing patient care to new levels.

We see a clear trend among large healthcare providers toward consolidating systems across sites to improve efficiency, reduce complexity, and enhance collaboration. At the same time, cybersecurity has become a critical priority, with growing demands to protect patient data and ensure system availability. By moving to a cloud-based service built on our enterprise imaging solution, this health system is addressing these challenges, something that is particularly important for them as they operate in a region with a high risk of data loss or system outage due to natural disasters.

To ensure high-quality care for our patients, it is essential that we equip our radiologists and radiation therapists with solutions optimized for efficient and interdisciplinary workflows. With the Sectra solution, we will now use a unified platform for radiology and radiation therapy. This improves information flow, strengthens collaboration across our sites, and boosts productivity. The scalability of the solution also gives us confidence that it will continue to meet our needs in the future.

Xcare is taking important steps to address one of the most pressing challenges in radiology today—burnout among radiologists. By streamlining workflows and reducing unnecessary complexity, they are creating the conditions for more sustainable diagnostic work. This not only supports the well-being of their radiologists but ultimately leads to better care for patients.

Organizations today face increasing demands for secure, flexible, and mobile collaboration, especially when handling sensitive information outside traditional classified environments. Sectra Tiger/E Managed Service fills a critical gap by providing a modern, service-based platform that complements existing classified systems and makes secure collaboration accessible across sectors. As we have seen in recent conflicts, such as the war in Ukraine, secure solutions must be easily accessible as well as simple and intuitive to use—otherwise, they risk not being used at all.

As Sectra will take full responsibility for the system’s technology, it will ease the burden on our IT team. We also hope to enhance diagnostic speed for our physicians as this transition will provide them with tools for increased efficiency and improved collaboration capabilities. We are happy to begin implementing Sectra’s cloud solution and are looking forward to experiencing the benefits it will bring for our organization and staff.

In healthcare, even a brief system outage can delay critical diagnoses or treatment. That’s why secure, resilient infrastructure is essential. By moving their imaging infrastructure to Sectra One Cloud, Southlake is strengthening its ability to protect patient data and keep imaging systems running—no matter what. We’re honored to support Southlake in this transition.

By consolidating all imaging into a unified system across all hospitals and specialties, our staff can efficiently access and share images regardless of location. This enables streamlined region-wide workflows, supporting the management of referrals, examinations, and diagnoses—ultimately contributing to improved patient safety.