Year-end report 2025: Profitability in line with financial targets
Summary by AI BETAClose X
Fourth quarter 2025 (October – December)
Net sales amounted to SEK 268.9 (251.5) million, an increase of 7 percent compared with the corresponding period in the preceding year. Calculated in local currencies, sales increased by 15 percent.
Sales of SEK 14.2 million from Intelligent Ultrasound are included in the figures. For comparable units, sales increased by 1 percent.
License revenue amounted to SEK 92.3 (76.4) million and accounted for 34 (30) percent of net sales.
The gross margin was 66 (68) percent.
Operating profit amounted to SEK 40.1 (39.1) million. Currency effects of SEK -7.5 (-5.3) million are included in the line item Other operating income and costs.
Net profit amounted to SEK 33.3 (36.3) million, corresponding to earnings per share of SEK 0.65 (0.71).
Cash flow from operating activities amounted to SEK 72.9 (56.7) million. As at December 31, 2025, cash and cash equivalents amounted to SEK 616.4 (968.2) million.
On November 25, it was announced that the memorandum of understanding signed on January 15 with the company's largest customer, Intuitive, did not materialize into a signed agreement. This means that, as of January 1, 2026, the parties revert to the existing agreement. Surgical Science estimates that this will have a negative impact on the company's license revenues in the range of SEK 60-90 million for 2026, compared to 2025.
On December 8, Surgical Science announced new financial targets. Growth shall amount to 10-15 percent annually with an adjusted EBIT of at least 15 percent. Profitability and some sales growth is expected for 2026, although not in line with the targets. The targets are expected to be met in 2027. At the same time, the intention to begin the process of switching to the Nasdaq Main Market was announced.
Full year 2025
Net sales amounted to SEK 992.3 (884.1) million, an increase of 12 percent compared with the preceding year. Calculated in local currencies, sales increased by 19 percent.
For comparable units, sales increased by 4 percent.
License revenue amounted to SEK 300.6 (271.7) million and accounted for 30 (31) percent of net sales.
The gross margin was 66 (68) percent.
Operating profit amounted to SEK 68.9 (144.3) million. Profit includes SEK 22.6 million in acquisition costs and SEK 5.3 million in restructuring costs, which are attributable to the acquisition of Intelligent Ultrasound. Currency effects of SEK -37.7 (0.1) million are included in the line item Other operating income and costs.
Net profit amounted to SEK 66.8 (131.6) million, corresponding to earnings per share of SEK 1.31 (2.58).
Cash flow from operating activities amounted to SEK 79.8 (137.2) million.
Intelligent Ultrasound, which operates in the field of ultrasound simulation, was acquired in February. The acquisition date was February 18.
Gothenburg, Sweden, February 19, 2026
Surgical Science Sweden AB (publ)
This report, in its entirety, is available through the attachment or via:
https://surgicalscience.com/investor-relations/#press-releases
https://surgicalscience.com/aktien/financial-report
This is a translation of the Swedish version of the year-end report. When in doubt, the Swedish wording prevails.
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