#Norway #Oslo #Bladder Cancer #Photocure #Hexvix

Photocure ASA Reports Financial Results for Q1 2025

In a recently released financial report, Photocure ASA, a leading company specializing in bladder cancer treatment, announced its results for the first quarter of 2025. The company recorded impressive Hexvix®/Cysview® revenues amounting to NOK 125.3 million, marking an increase from NOK 116.8 million in the same quarter the previous year. Its earnings before interest, taxes, depreciation, and amortization (EBITDA) reached NOK 1.8 million, up from NOK 7.9 million.

Continued Growth and Future Outlook

Photocure ASA's positive results indicate a solid performance fueled by growth initiatives and efforts to boost market presence. The company forecasts a revenue growth in the range of 7% to 11% for the entirety of 2025, as well as year-on-year improvements in EBITDA. Although no specific EBITDA guidance was provided, management has expressed confidence in the expected operational leverage benefiting their core business throughout the year. Dan Schneider, the company’s President and CEO, commented, "We delivered another quarter of growth and positive EBITDA, driven by the strong performance from our European franchise. Our North American team is also witnessing positive developments with new accounts rapidly adopting our products, which we expect will drive future revenue growth."

Strategies Driving Revenue

During Q1 2025, Photocure expanded its blue light cystoscopy services significantly. The company announced the installation of 21 new Saphira™ towers in the U.S., comprising 8 new accounts and 13 upgrades to existing blue light towers. This brings their total active accounts in the U.S. to 337, reflecting a 17% increase from the previous year.

Photocure's strategic collaborations are also noteworthy. The company is advancing an Interim Flexible BLC solution to various centers across countries where the System Blue and Richard Wolf reusable flexible cystoscopes are approved. The ongoing partnership with Richard Wolf aims to produce a state-of-the-art, HD flexible cystoscope, while a close collaboration with Olympus is focused on their recently released high-definition Olympus Visera Elite-III system, which features capabilities for blue light cystoscopy.

"Thirty Olympus systems have already been upgraded since launch, which we believe will initiate significant Hexvix growth in both the Nordic region and continental Europe within this year and beyond," Schneider remarked.

Inventory and Financial Stability

Photocure’s efficient inventory management signifies financial health with enough units secured to sustain operations throughout most of 2025. Moreover, the company stated that the low cost of goods sold and minimal tariffs would not greatly hinder profit margins in the U.S. market.

Dan Schneider concluded with optimism, saying, "Overall, we are pleased to report another quarter of growth alongside robust business development, while we maintain our projection of revenue growth in the range of 7% to 11% and continued year-on-year EBITDA improvement in 2025."

For those interested, detailed financial insights and updates will be released at 0700 CEST on May 8, 2025, and will be available to the public through the Photocure website. Schneider and Chief Financial Officer Erik Dahl will host a live webcast to delve deeper into these results at 1400 CEST the same day.

To summarize, Photocure ASA’s growth trajectory, reinforced by innovative treatment solutions for bladder cancer and strategic business expansions, showcases its commitment to enhancing health outcomes for patients globally. For more information, visit Photocure's official website.