Q2 2025 Photocure ASA Earnings Call Transcript
Key Points
- PhotoCure ASA (PHCUF) reported an 11% revenue growth, reaching an all-time high of NOK135.6 million.
- The company achieved its ninth consecutive quarter of positive EBITDA, demonstrating strong financial performance.
- Significant growth in North America with a 14% increase in unit sales and a 15% rise in revenue.
- Expansion into the Spanish market, which is the second largest in Europe for bladder cancer incidents, offers new growth opportunities.
- The partnership with Fortech is contributing over 10% to total business and is expected to continue growing.
- The flexible cystoscopy market in the US is declining, with a 46% decrease in the second quarter.
- Foreign exchange impacts negatively affected revenue by approximately $1.3 million.
- The company faces challenges in the Spanish market due to outdated equipment and the need for upgrades.
- There is uncertainty regarding the timeline for regulatory approvals in China, affecting potential milestone payments.
- Operating expenses related to business development increased significantly, impacting overall financial results.
All right. Well, good afternoon and good morning, on where you are in the world. My name is Dan Schneider, President and CEO of Photocure, and you're here for the Photocure second quarter 2025 results. With me today is Erik Dahl.
Just a reminder, the usual disclaimers in effect for today's presentation.
I thought I'd start just kind of reiterating our strategic priorities and initiatives before I get into what I think was a very good quarter for Photocare. So, first block, accelerate and expand.
I think what's important to keep all this in the background of what we've been focused on over the past couple of years in delivering on our financial growth, both revenue and EBITDA this year and continue generating operating leverage.
I believe this is our Ninth quarter in a row of positive EBITDA, and that leverage continues to build. Driving the PLC mobile strategy and for tech is doing quite well for the US and is increasingly becoming an important part of our opportunities there.
And then for
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