Q1 2026 Sedana Medical AB (publ) Earnings Call Transcript
Key Points
- Sedana Medical AB (OSTO:SEDANA) achieved a positive EBITDA on a group level, with a double-digit EBITDA in their ex-US business.
- The company maintained a stable gross margin of 71%, despite a challenging sales environment.
- Sedana Medical AB (OSTO:SEDANA) has a strong cash position with 81 million SEC, sufficient to support their US market entry.
- The early access program in the US has commenced, with initial treatments at Vanderbilt University, indicating progress towards market entry.
- The company has successfully reduced operational expenses, demonstrating efficiency improvements and cost containment.
- Sedana Medical AB (OSTO:SEDANA) experienced a slight sales decline of 2% at constant exchange rates compared to Q1 2025.
- The company faced significant challenges in Germany due to lower ICU occupancy, resulting in a 15% sales decline in the region.
- Nationwide doctor strikes in Spain affected sales activities and market penetration, limiting growth potential.
- The company's contract manufacturing sales, which have lower margins, represented a higher share of sales, impacting overall gross margin.
- The US market entry is still pending regulatory approval, with associated costs impacting cash flow and financial results.
Hello and welcome to today's FinWire broadcast presentation with Sedana Medical.
After the presentation, there will be a question-and-answer session. So if you have any question, you can submit them in English using the form on the right.
With that said, I'll hand the floor to you. Please go ahead.
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Thank you for the introduction and a warm welcome to our Q1 Report 2026. Sometimes the development of a company is shown best in quarters where you're facing some headwinds or adverse conditions. We have been through such a quarter in Q1 with significantly less patients and intensive care units in several of our main markets and also a nationwide strike that is affecting our operations in Spain. So for the first time since the year after COVID-19, we're seeing a slight sales decline.
But despite all of these factors, we have delivered a positive EBITDA on the group level and double-digit EBITDA even in our ex-US business.
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