STOCKHOLM – August 24, 2023 – ContextVision, a medical technology software company renowned for its expertise in image processing, continues to achieve strong revenue figures to date, accompanied by a substantial increase in EBITDA performance.
"Our impressive performance was fuelled by the excellent licensing sales in our core business and boosted by favourable foreign exchange rates. We anticipate our margins to remain stable, consistently reaching a high level of 40 in the foreseeable future", says Gerald Pötzsch, CEO of ContextVision.
In the second quarter, net sales amounted to SEK 33.6 M (31.0), reflecting an 8% growth compared to the previous year, and a 4% increase from the preceding quarter. EBITDA climbed to SEK 16.0 M (15,5). Currency fluctuations due to a continued depreciation of the Swedish Krona added 2.4 M in this quarter, resulting in 48% EBITDA margin.
The ongoing factor behind this success remains the solid commitment and dedication to our core business, collaborating with prominent OEMs (Original Equipment Manufacturers). This approach involves not only cultivating revenue streams from existing customers and expanding within existing OEMs, but also broadening our base with new customers.
Over the initial half-year period, the company has initiated a comprehensive growth program, backed by allocated time and dedicated investments, aimed at expanding our portfolio beyond the current focus on image enhancement and into the realm of Point of Care Ultrasound (POCUS), which provides high-quality portable imaging where the patient is located. For example, a patient may be scanned in an ambulance on the way to A&E, or in remote areas such as war zones or in third world countries.
"I am genuinely pleased with the strong performance during the first half of the year, showcasing growth rates that surpass the market average, along with an exceedingly positive expansion in margins. This solidifies our commitment to reinforce our primary focus on image enhancement within our core business, while providing us with the opportunity to effectively implement our expansion strategy into adjacent market segments," says CEO, Gerald Pötzsch.
For more details, please contact ContextVision's CEO, Gerald Pötzsch at or visit our official website at www.contextvision.com
About ContextVision
ContextVision is a medical technology software company specialized in image analysis and artificial intelligence. As the global market leader within image enhancement, we are a trusted partner to leading manufacturers of ultrasound, X- ray and MRI equipment around the world. Our expertise is to develop powerful software products, based on proprietary technology and artificial intelligence for image-based applications. Our cutting-edge technology helps clinicians accurately interpret medical images, a crucial foundation for better diagnosis and treatment. The company, established in 1983, is based in Sweden with local representation in the U.S., Japan, China and Korea. ContextVision is listed on the Oslo Stock Exchange under the ticker CONTX. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This information is inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5–12 the Norwegian Securities Trading Act.
Summary
The growth strategy, “Focus on the core”, is bearing fruit. Continued top line growth, further increasing margins, strong positive cash flow and a stabilizing OPEX level after the spin-off of Inify Laboratories AB will allow us to significantly invest in further growth.
For further information, please contact ContextVision’s CEO, at +46 8 750 35 50 or or visit www.contextvision.com
