Photocure ASA Reports Strong Financial Results for Q1 2025 with Continued Growth in Bladder Cancer Treatments

Photocure ASA Q1 2025 Results Analysis

Photocure ASA (OSE: PHO) has released its financial report for the first quarter of 2025, showcasing impressive growth in revenues from its flagship products, Hexvix® and Cysview®. For this quarter, revenues reached NOK 125.3 million, marking an increase from NOK 116.8 million in Q1 2024. Such growth highlights the company’s resilience and efficacy in addressing bladder cancer treatments amid competitive market conditions.

CEO Dan Schneider reported a positive EBITDA of NOK 1.8 million, up from NOK 7.9 million in Q1 2024. Schneider attributes this growth to strong performances in their European operations while the North American team also shows promising business development with an increasing number of accounts choosing to adopt upgrades and new tower placements. As a result, Photocure anticipates revenue growth between 7% to 11% in 2025, reaffirming a commitment to enhancing existing services alongside driving innovation in treatment methodologies.

In the first quarter, Photocure successfully installed 21 new Saphira™ towers in the United States, contributing to this growth. The company reported a total of 337 active U.S. accounts, reflecting a robust 17% increase compared to the same period last year. Moreover, they expanded blue light cystoscopy utilization across accessible market centers, further cementing their presence in vital treatment settings.

A significant development during this quarter involved Photocure’s collaboration with Richard Wolf, enhancing their flexible high-definition cystoscope offerings. The integration with Olympus on the Olympus Visera Elite-III system has already seen 30 upgrades since its launch, allowing Hexvix to gain traction in the Nordic market and broader continental Europe.

With a cash balance of NOK 259.5 million at the end of the quarter, Photocure’s solid financial foundation underpins its ongoing strategic investments. The company is focused on maintaining its position as a leader in bladder cancer solutions, particularly with its proprietary technology that causes cancer cells to fluoresce, improving detection and treatment efficacy. Schneider pointed out that sufficient inventory has been established in the U.S. to support growth without significant constraints. Despite potential challenges from tariffs and material costs, the company's focus will remain on developing innovative solutions that enhance patient outcomes.

Looking ahead, Schneider expressed optimism about continued operational leverage, enhancing their core business and anticipated milestone payment growth throughout 2025. As the demand for effective bladder cancer diagnoses and treatments remains high, Photocure ASA is poised to capitalize on market opportunities effectively.

As part of their commitment to transparency, Photocure has made their full financial report publicly available and has plans for direct engagements, including a live webcast to discuss the Q1 results later today. In a rapidly evolving healthcare landscape, Photocure’s commitment to improving bladder cancer treatment outcomes is more crucial than ever, reinforcing their value proposition in the healthcare sector.

For further insights and comprehensive reports, visit Photocure’s news section.

Note: The financial information is governed by market regulations, and full details are available in their official documentation. Investors and stakeholders can obtain further insights through the webcast offered by Photocure’s leadership team.