Year-end report 2023: STRONG LICENSE REVENUE, WEAKER SIMULATOR SALES

FOURTH QUARTER 2023 (OCT – DEC)

Net sales amounted to SEK 227.3 million (250.1), a decrease of 9 percent compared with the corresponding period in the preceding year.

License revenue amounted to SEK 75.9 million (63.1) and accounted for 33 percent of net sales (25).

The gross margin was 71% (66).

Operating profit amounted to SEK 37.7 million (61.2). The currency effect, primarily from a weaker US dollar under “Other income and costs” amounted to SEK -15.3 million. Other costs were in line with previous quarters during the year.

Net profit amounted to SEK 98.0 million (116.5), corresponding to earnings per share of SEK 1.92 (2.29).

Cash flow from operating activities amounted to SEK 39.6 million (78.5). As at December 31, 2023, cash and cash equivalents amounted to SEK 634.4 million (433.7).

FULL YEAR 2023

Net sales amounted to SEK 882.9 million (802.5), an increase of 10 percent compared with the preceding year.

License revenue amounted to SEK 277.7 million (184.5) and accounted for 31 percent of net sales (23).

The gross margin was 69% (66).

Operating profit amounted to SEK 189.2 million (162.5).

Net profit amounted to SEK 234.0 million (188.0), corresponding to earnings per share of SEK 4.59 (3.70).

Cash flow from operating activities amounted to SEK 238.3 million (129.5).

Gothenburg, Sweden, February 21, 2024
Surgical Science Sweden AB (publ)

This report, in its entirety, is available through the attachment or via:
https://surgicalscience.com/investor-relations/#press-releases
https://surgicalscience.com/investor-relations/#financial-report

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

For further information, please contact:

Gisli Hennermark, CEO
Telephone: +46-70-420 83 00
E-mail: gisli.hennermark@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 260 employees. The company is headquartered in Gothenburg, Sweden and also has operations in Tel Aviv, Israel, as well as in Stockholm, Sweden and in Seattle and Cleveland, US. 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 Carnegie Investment Bank AB (publ).

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 2024-02-21 07:30 CET.

Attachments

240221 Q42023 ENG

240221 Q42023 ENG