STOCKHOLM – January 9th, 2019 – ContextVision, a medical technology software company specializing in image analysis and artificial intelligence, today announced that the fourth quarter sales in 2018 reached 27.9 MSEK which is 24 percent higher than last year and a new record. Total sales for 2018 was 90.9 MSEK which is 13 percent higher than last year and the highest sales reported for the company.
“This fantastic sales result truly confirms that we continue to be the global market leader in image enhancement software,” said Anita Tollstadius, CEO of ContextVision. “Our continued positive sales development reflects that our strong partnerships have allowed us to grow with our customers, and in addition, we have also generated new growing customers over the last few years.”
All sales during 2018 were generated from the image enhancement OEM business in Europe, the U.S. and Asia. The development in the Asian markets is the main contributor to the increase in sales.
“I am very proud of our excellent team. With excellent performances from everybody involved, from sales and marketing to customer support and our experts within image quality, this is truly the result of great teamwork,” said Tollstadius.
Sales growth was also achieved through the first sales of a new product package within XR, especially designed for orthopedic imaging, which was launched in 2017.
“The product was very well received in the market and we were able to sign contracts much quicker than usual,” said Tollstadius.
For further information, please contact ContextVision’s CEO, Anita Tollstadius, cell: +46 70 337 30 26 or visit www.contextvision.com.
ContextVision provides this information based on a preliminary summary of sales. The company has not completed its financial reporting and related consolidation, review and control procedures, including the review of all sales against the established revenue recognition. The estimates provided in this release are therefore subject to change and the Q4 2018 financial statements finally approved and released by the company may deviate materially from the information herein. ContextVision will announce the full report for fourth quarter and full year report for 2018 on February 21, 2019.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
This information is information that ContextVision 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, on January 9, 2019.
About ContextVision
ContextVision is a medical technology software company that specializes in image analysis and artificial intelligence. ContextVision is the global market leader within image enhancement and is a software partner to leading medical imaging manufacturers all over the world. Its cutting-edge technology helps doctors accurately interpret medical images, a crucial foundation for better diagnosis and treatment.
As an industry pioneer for more than 30 years, ContextVision is significantly investing in R&D to develop new applications of the latest artificial intelligence technologies and expanding into the growing digital pathology market. The release of its first product, supporting the diagnosis of prostate cancer, is planned in the near future.
The company is based in Sweden, with local representation in the U.S., Russia, Japan, China and Korea. ContextVision is listed on the Oslo Stock Exchange under the ticker COV.
For more information please visit www.contextvision.com.