RaySearch Laboratories AB (OTCPK:RSLBF)
$ 21.17 +0.17 (+0.81%) Market Cap: 811.04 Mil Enterprise Value: 804.68 Mil PE Ratio: 33.64 PB Ratio: 7.23 GF Score: 92/100

Q3 2025 RaySearch Laboratories AB (publ) Earnings Call Transcript

Nov 07, 2025 / 09:00AM GMT
Release Date Price: $27.61

Key Points

Positve
  • RaySearch Laboratories AB (RSLBF) achieved record high net sales in Q3 2025, with a 13% increase to SEK332 million.
  • Operating profit improved significantly, rising by 44% to SEK89 million, with an EBIT margin of 27%.
  • The company saw a strong order intake, increasing by 70%, with many existing customers expanding their installations.
  • RaySearch Laboratories AB (RSLBF) continues to see strong interest in its solutions, with notable new orders from major centers like Stanford Healthcare and Keimyung University Dongsan Medical Center.
  • The launch of a new version of RayIntelligence, a cloud-based oncology analytics platform, enhances the company's product offerings and integration capabilities.
Negative
  • The company's cash flow in Q3 was negative SEK82 million, impacted by higher working capital and timing of sales.
  • There is a fluctuation in quarterly revenues due to the nature of large deals, making short-term financial predictions challenging.
  • The strengthening of the Swedish krona posed a headwind, affecting net sales growth.
  • The order backlog decreased due to deliveries, which could impact future revenue predictions.
  • Despite high gross margins this quarter, it is considered temporary due to lower hardware sales, which may not be sustainable in future quarters.
Carolina Haglund StrÃ;mlid RaySearch Laboratories AB;publ;Head of Investor Relations

¶()-

Good morning and a warm welcome to the presentation of RaySearch Q3 2025 Results. My name is Carolina Stromlid and I'm new Head of Investor Relations at RaySearch. With me today are our Founder and CEO, Johan Lof; and our CFO, Nina Gronberg, who will take you through the highlights and financials of the quarter. After the presentation, we will open up for questions. So feel free to submit them in the chat or ask them live.

With that, let's kick off today's presentation.

Johan Lof;publ;Chief Executive Officer
RaySearch Laboratories AB;Founder, Director

()- -

Thank you, Carolina, and welcome again, everyone. Before we go through the Q3 results and highlights, I'd like to give a brief overview of RaySearch and our business. So as you know, RaySearch is a pure software company and we develop software for cancer treatments. We have four platforms: RayStation, which is our treatment planning

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