Interim report January – March 2025: Strong growth despite macroeconomic uncertainties

First quarter 2025 (Jan–Mar)

  • Net sales amounted to SEK 250.7 (188.2) million, an increase of 33 percent compared with the corresponding period in the preceding year. SEK 18.3 million was acquired revenue.
  • License revenue amounted to SEK 83.8 (63.2) million and accounted for 33 (34) percent of net sales.
  • The gross margin was 69 (66) percent.
  • Operating profit amounted to SEK 23.9 (26.0) million. Profit includes SEK 22.6 million in acquisition costs and SEK 3.9 million in restructuring costs, both of which are attributable to the acquisition of Intelligent Ultrasound.
  • Net profit amounted to SEK 33.2 (23.8) million, corresponding to earnings per share of SEK 0.65 (0.47).
  • Cash flow from operating activities amounted to SEK -5.0 (28.5) million. As at March 31, 2025, cash and cash equivalents amounted to SEK 612.9 (659.2) million.
  • On January 15, it was announced that a letter of intent had been signed with the company’s largest customer, Intuitive. This means that Surgical Science moves to a fully subscription-based revenue model with Intuitive and that all da Vinci 5 systems (Intuitive’s new surgical system) will be equipped with simulation software from Surgical Science.
  • On February 3, the nomination committee submitted its proposal for election of the board ahead of the annual general meeting on May 15. All existing members are proposed for re-election. Gisli Hennermark is proposed for election as chairman of the board.
  • On February 4, it was announced that Surgical Science had won a procurement contract worth SEK 52 million to supply products to the defense ministry of a Southeast Asian country.
  • On February 18, it was announced that the acquisition of Intelligent Ultrasound had been completed, and that the company would be consolidated into Surgical Science from the effective date.

Gothenburg, Sweden, May 14, 2025
Surgical Science Sweden AB (publ)

This report, in its entirety, is available through the attachment or via:
https://surgicalscience.com/aktien/pressmeddelanden/
https://surgicalscience.com/aktien/finansiella-rapporter/

This is a translation of the Swedish version of the interim report. When in doubt, the Swedish wording prevails.

For further information, please contact:

Tom Englund, CEO
Telephone: +46-70-916 16 81
E-mail: tom.englund@surgicalscience.com

Anna Ahlberg, CFO
Telephone: +46-70-855 38 35
E-mail: anna.ahlberg@surgicalscience.com

About Surgical Science Sweden AB (publ)

One of the biggest challenges within healthcare globally is reducing injuries incurred during care. Medical education and training are key, especially as a large part of the training can now be performed outside the operating room. Surgical Science is a world leader in the development of virtual reality simulators for evidence-based training. The simulators enable surgeons and other medical specialists to train and improve their psycho-motor skills and instrument handling before entering the clinical environment. Alongside its own products, Surgical Science works with simulation solutions for medical device companies that develop instruments for clinical use, such as robotic surgery.

Surgical Science has approximately 330 employees. The company is headquartered in Gothenburg, Sweden, and has operations in Tel Aviv, Israel; Stockholm, Sweden; Seattle and Cleveland, US; and Cardiff, UK. Through sales offices in the US and China as well as a global network of distributors, Surgical Science maintains a presence in most markets. Shares in Surgical Science Sweden AB (publ) are traded on Nasdaq First North Growth Market. Certified Adviser is DNB Carnegie Investment Bank AB.

This information is information that Surgical Science Sweden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-05-14 07:30 CEST.

Attachments

Delarsrapport Q1 SuS 2025 EN

Delarsrapport Q1 SuS 2025 EN