RECORD TOPLINE GROWTH AND STRONG MARGINS
With a record revenue and a solid EBITDA margin of 44% in Q3 as well as the first nine months, the company reaffirms its foundation for growth. The strong performance is driven by a healthy core business supported by investments in growth initiatives such as the AI-based X-ray solution, Altumira.
STOCKHOLM – October 26, 2023. In Q3, ContextVision achieved an unprecedented high in net sales, totaling SEK 32.8M (25.6), which adds yet another record-breaking quarter. Additionally, net sales for the first nine months also reached a new record at SEK 99.0M (85.3). During Q3, ContextVision's EBITDA amounted to SEK 14.5M (13.3), and for the first nine months, it reached SEK 43.7M (38.1). As of the end of the quarter, ContextVision's cash position stood at an impressive 63.7 MSEK.
"Our strong family culture and flexible approach to market dynamics have proven a success”, says Pötzsch. “They have been key to ContextVision’s position – being at the forefront of innovation for 40 years, becoming a worldwide market leader within image enhancement."
Altumira, the company’s AI-based X-ray solution, has generated substantial interest in the Americas and European markets, with several active customer dialogues anticipated to be concluded in the coming months.
The reported EBITDA margin of 44.2% and the positive EBITDA growth rate (9.3%) for the quarter reaffirm the solid foundation for strategic growth investments.
In September, ContextVision celebrated its 40th anniversary with a two-day event featuring both external as well as internal seminars with prominent guest speakers. The entire company came together for this celebration, including the full staff, the board of directors and the founders.
The strong financial performance for the third quarter, as well as for the first nine months, paves the way for a successful 2023 and manifests the strength of the company after its 40-year journey of pioneering engineering in image enhancement.
For more details, please contact ContextVision's CFO, Richard Hallström at [email protected] or visit our official website at www.contextvision.com.
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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.
