Photocure ASA Reports Strong Q1 2026 Results with Growth in Revenues and Strategic Advancements

Photocure ASA Reports First Quarter 2026 Results

OSLO, Norway - On May 7, 2026, Photocure ASA, a leader in bladder cancer solutions, reported a strong performance for the first quarter of 2026, highlighting its commitment to improving patient outcomes and driving growth in its core product lines, Hexvix® and Cysview®.

Financial Overview

The company's revenues from Hexvix®/Cysview® reached NOK 139.0 million, marking an increase from NOK 125.3 million in Q1 2025. Adjusted EBITDA also saw significant growth, with figures rising to NOK 15.3 million in 2026 from NOK 9.7 million in the prior year. Altogether, Photocure recorded total revenues of NOK 264.6 million, bolstered by milestone payments, including NOK 125.6 million for Cevira's approval in China.

Dan Schneider, the President and CEO, commented on the strong growth, noting that both North America and Europe have exhibited accelerated adoption of blue-light cystoscopy technology. This increase in procedural penetration reflects not only robust sales but also strongly supports the company’s strategic direction.

Expansion of Blue-Light Cystoscopy

In March 2026, Photocure completed the installation of 11 new Saphira towers in the United States, with a significant 21% rise in active accounts year-over-year. Photocure's efforts to enhance blue-light cystoscopy use are evident through the installation of 75 Olympus Visera Elite III systems in Europe.

The company's ambition to broaden its market presence continues as it aims for product revenue growth between 7% and 11% within a constant currency framework throughout 2026. Schneider expressed confidence in continued demand for BLC technology, positioning Photocure strategically to capture greater market share.

Regulatory Developments

A pivotal factor shaping Photocure's future is the recent decision by the U.S. Food and Drug Administration (FDA) regarding the reclassification of diagnostic equipment relevant to its products. This anticipated clarity in the regulatory framework is expected to unlock substantial commercial opportunities for Photocure, aiming to increase BLC equipment’s market penetration dramatically.

Additionally, partnerships with Richard Wolf and Asieris have led to significant advancements, including the approval of the System blue BLC platform in China, suggesting a rapid market entry for this integrated drug-device offering alongside Hexvix.

Cevira's Approval Highlights

Cevira, another notable product in Photocure's portfolio, received a significant boost with its approval as a non-invasive treatment for precancerous cervical lesions in China. Following this, the product also gained recognition in expert consensus guidelines, reinforcing its adoption potential. In Europe, the Marketing Authorization Application is currently under consideration.

Investment in Precision Diagnostics

Photocure is not just focused on existing products; the company is also investing in the future of cancer diagnostics by committing to build an integrated platform. A targeted investment in Vesica Health aims to enhance early bladder cancer detection through advanced multi-omic urine biomarker tests, illustrating the firm’s forward-thinking approach.

With advancements in various strategic initiatives and partnerships, Photocure is set to elevate its market presence. Schneider highlights ambitions for ongoing equipment upgrades, ensuring robust customer engagement and maximizing the performance of existing infrastructures.

Looking Ahead

The outlook for Photocure’s future appears promising, with expected sustained growth propelled by strategic developments in the bladder cancer domain. The company maintains focused operational excellence, guided by the dual goals of enhancing patient outcomes and generating shareholder value.

Photocure anticipates a revenue growth trajectory that continues to reflect market demands and leverages expanding product offerings, all while championing advancements in therapeutic efficacy for bladder cancer treatments.

In conclusion, Photocure ASA is committed to maintaining its growth momentum through innovative solutions and strategic partnerships aimed at redefining bladder cancer management. The company’s dedication to addressing and improving health outcomes signals a positive future for patients and investors alike.

For continuous updates, stakeholders are encouraged to follow Photocure's official channels.

For More Information Contact:
Dan Schneider, CEO - Email: [email protected]
Erik Dahl, CFO - Phone: +47 450 55 000
Priyam Shah, VP of Investor Relations - Phone: +1 7176815072
Geir Bjørlo, Corporate Communications - Phone: +47 91540000

Photocure ASA is based in Oslo, Norway, and specializes in solutions tailored for bladder cancer treatment, aiming to enhance patient outcomes through innovative technologies.