Strong Q4 and a record full year 2022
STOCKHOLM – Feb 16, 2023 – ContextVision, a medical technology software company specializing in image processing and image analysis, today reports its fourth quarter results.
Net sales record
The company delivers another record quarter with a net sales of SEK 32.6 M, an increase of 19%. For the full year, net sales increased 20% to SEK 117.8 M (98.1). This represents the strongest fiscal quarter and full year in ContextVision’s history.
In Q4, EBITDA reached SEK 11.0 M (12.3). Post pandemic higher sales and marketing cost reflecting more in-person customer events and meetings including travel and exhibitions impact Q4. The full year delivered a solid EBITDA of 41.7% (51.3%) with the current cost structure representing the effect of the spin-off from Inify Laboratories in February 2022.
The strong growth in this quarter mainly resulted from the Asian and Americas markets, with a double-digit increase in the latter. The market mix for the full year shows Asia as largest with 68% of net sales, Europe 17% and Americas 15%. The company’s X-ray products continue to increase their market shares, with key updates added during the year. For the Ultrasound market, a new 3D solution was released earlier in the year together with a full mobile solution. Both solutions have attracted great interest in the market and have already resulted in signed contracts.
“We have continued on our strategic path with a clear focus on our core business, and it has clearly proven to be successful. It is now time to further accelerate and take the next step in the growth of the company,” says Gerald Pötzsch, CEO of ContextVision.
Summary:
Strongest net sales for Q4 and for the fiscal year 2022. With a strong EBITDA, a solid cash position and an unmatched product portfolio, the company is ready to take its next leap.
