Medistim

Interim / Quarterly Report • Oct 22, 2021

INTERIM REPORT

Q3 2021

Sales revenues for the quarter ended at MNOK 102.1 (MNOK 83.4), an increase of 22.5%. Sales as of September ended at MNOK 309.2 (MNOK 268.9) a 15.0% increase.

Sales in the USA increased by 11.9 % in NOK. Currency neutral growth was 24.9%.

Currency neutral sales of own products increased by 33% for the quarter.

Total revenues YTD September include the Paycheck Protection Program income and reach MNOK 314.5.

Operating result (EBIT) for the quarter ended at MNOK 25.1 (MNOK 20.8) a 20.3% increase. EBIT year to date September ended at MNOK 96.8 (MNOK 73.3), a 32.0% increase. This is the best operating result YTD September ever.

Cash flow from operations YTD was a solid MNOK 81.2. Cash by the end of the quarter was MNOK 89.7.

www.medistim.com

LETTER FROM THE CEO

Medistim is delighted to report a third quarter showing

solid continuation of the strong recovery from the COVID pandemic seen in the second quarter, with currency neutral growth of own products at 33%.

Total sales revenue grows at 22.6% in NOK, currency neutral growth is 30.6%. And bear in mind, our comparable quarter last year was relatively strong despite COVID, with a currency neutral total sales decline of 'only' 9.7%. This is also the third quarter in a row above MNOK 100 in revenues.

All regions: USA, Europe, Asia, and RoW, are contributing strongly to this growth. Number of procedures sold in the USA grows at 29% and the number of flow probes sold outside of the USA grows at 51%, both being

key indicators of rebound back to high activity in the surgical operating rooms.

Profitability is also solid, with EBIT growing 20% to MNOK 25.1 with 24.6% margin.

Year to date September, the EBIT of MNOK 96,8 sets a record for operating result.

We always pay special attention to the sales of the Imaging product portfolio, as building the market for combined blood flow assessment with surgical guidance from high-frequency ultrasound imaging, has pivotal importance for our business. The accelerated growth seen in recent years, spurred by the REQUEST registry study, showed a provisional culmination at 33% growth in 2019. This growth trajectory was challenged during the pandemic and sales were down 6% in 2020. In Q2, we reported a strong rebound of 71% growth in NOK, and

this third quarter we see continued recovery in the Imaging business with 43% sales growth in NOK. This development corresponds well with the growing interest we experience in our imaging technology worldwide.

Also in the vascular business segment, we saw some set-back in Q4 2020 as well as in Q1 2021. In Q2 we reported growth of 6.1% and this is strengthening further in Q3, with

57% sales growth in NOK in our Vascular business.

As stated in the second quarter report, Medistim is looking at the remaining year and longer-term future with optimism, and this third quarter report provides further reassurance that we may indeed expect to be back at normal activity levels.

Now, rather than monitoring COVID effects, we look forward to

concentrating our efforts on continued technology and product development, collaborative clinical projects with clients, building the markets and strengthening the organization to lead the growth ahead.

Still, we remain alert to any further negative consequences of the pandemic.

21st October 2021 Kari E. Krogstad President and CEO

THIRD QUARTER REPORT 2021

The financial report as per September 2021 has been prepared according to the IFRS and follows IAS 34 for interim financial reporting, as do the comparable numbers for 2020.

FINANCIAL DEVELOPMENT

(Comparative numbers for 2020 in parenthesis.)

Sales and geographic split

Sales revenues in the third quarter ended at MNOK 102.1 (MNOK 83.4). In NOK, there was growth in all geographical regions. Sales in the USA grew by 11.9%, while sales in Asia, Europe and "Rest of the world" were up 22.0%, 27.4% and 116.4%, respectively.

Sales revenues year to date ended at MNOK 309.2 (MNOK 268.9), a 15.0 % increase. There was growth in NOK in all regions except "Rest of the world" that were down by 13.8%. In USA, sales year to date increased by 10.4 % and sales in Asia and Europe increased by 22.4 % and 20.0 % respectively. 250 000

Total revenues year to date September include an extraordinary recording of MNOK 5.3 as other revenues in the USA in the second quarter. This was related to the Paycheck Protection Program established by the U.S. federal government to help businesses keep employees employed during the COVID pandemic. Medistim has kept all its USA employees throughout the pandemic and was therefore qualified for the program. Hence, U.S. product sales, when excluding this extraordinary income, increased with 10.4% year to date. 0 50 000 100 000 150 000 200 000 2015 2016 2017 2018 2019 2020 20 000 40 000 60 000 80 000 100 000 120 000 40 000 60 000 80 000 100 000 120 000

Currency effect

With the same foreign currency exchange rates as in 2020, sales revenues would have amounted to MNOK 108.9 for the quarter, which represents a currency-neutral growth of 30.6%. Currencyneutral growth of own products was 33.0%.

Year to date September, currency-neutral increase of total revenues was 24.5%. Currency-neutral growth of own products was 25.3%.

Split between recurring sales and capital sales

Sales of Medistim's own products can be split into capital sales of systems and repeating sales of probes, smartcards, and lease revenue, which are all defined as recurring revenue. In recent years, recurring sales were around 70% of total sales of own products. Year to date September, the recurring sales represented 70.5%.

5% 5 10% 10 Split of sales in own products and third-party products

10%

10

0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 0 2000201200220032004200520062007200820092010211201220132014201520162017201820192020 0% 5% 0 5 2000201200220032004200520062007200820092010211201220132014201520162017201820192020 Sales of own products for the quarter amounted to MNOK 85.1 (MNOK 69.0), a growth of 23.3%. Sales of third party products ended at MNOK 17.0 (MNOK 14.3), a growth of 19.0%.

Sales of own products year to date September amounted to MNOK 253.3 (MNOK 222.6), a growth of 13.8%. Sales of third party products ended at MNOK 55.9 (MNOK 46.3), a growth of 20.8%.

Split of sales in Cardiac and Vascular segment

For sales of own products, MNOK 70.2 (MNOK 59.5) was within the cardiac segment and MNOK 14.9 (MNOK 9.5) was within the vascular segment for the quarter.

Year to date September, sales of own products within the cardiac segment was MNOK 216.0 (MNOK 188.8) and MNOK 37.3 (MNOK 33.9) was within the vascular segment. Hence, the vascular segment represents 14.7% (15.2%) of sales of own products as of September.

Cost of goods sold

Cost of goods sold (COGS) ended at MNOK 23.8 for the quarter (MNOK 15.4) and represents 23.3% of total sales (18.4%). Year to date September, the COGS ended at MNOK 69.2 (MNOK 54.3) and represents 22.0% of total sales (20.2%).

The higher level of sales through distributors, and increased sale of third-party products, explain the increase in COGS in percent of sales for both the quarter and year to date September.

Salary, social and other operating expenses

Salaries and social expenses ended at MNOK 35.5 (MNOK 31.2) for the quarter, while other operating expenses amounted to MNOK 11.9 (MNOK 10.2).

Salaries and social expenses year to date September ended at MNOK 93.1 (MNOK 86.9), while other operating expenses amounted to MNOK 38.0 (MNOK 37.5).

R&D expenses

For the quarter, MNOK 5.4 (MNOK 4.4) was spent on research and development (R&D), of which MNOK 1.5 (MNOK 0.0) was activated in the balance sheet.

The result before R&D, depreciation and write-offs was MNOK 34.9 (MNOK 31.0). This equals a margin of 34.2% (37.2%).

Year to date September, MNOK 13.5 (MNOK 12.4) was spent on research and development (R&D), of which MNOK 2.2 (MNOK 0.7) was activated in the balance sheet. The result before R&D, depreciation and write-offs was MNOK 125.5 (MNOK 101.9). This equals a margin of 39.9% (37.9%).

Earnings

Operating profit before depreciation and writeoffs (EBITDA) for the quarter ended at MNOK 30.9 (MNOK 26.6). The result before tax and finance (EBIT) ended at MNOK 25.1 (MNOK 20.9).

Year to date September, EBITDA ended at MNOK 114.2 (MNOK 90.2). EBIT ended at MNOK 96.8 (MNOK 73.3).

Operating profit (EBIT) per quarter in TNOK

Net finance ended negative with MNOK 1.1 for the quarter (negative MNOK 2.2). Similar year to date September net finance ended negative with MNOK 2.2 (negative MNOK 1.7). Net finance was related to realized and unrealized gains or losses related to currency, hedging contracts, cash in USD and EUR and customer receivables.

The result before tax was MNOK 24.0 (MNOK 18.7) for the quarter. The result after tax for the quarter was MNOK 18.8 (MNOK 14.4). Year to date September, result before tax ended at MNOK 94.7 (MNOK 71.7). Result after tax ended at MNOK 74.8 MNOK (MNOK 55.8).

The result per share for the quarter was NOK 1.03 (NOK 0.79). The result per share year to date September was NOK 4.11 (NOK 3.07). Average number of shares outstanding was 18,213,336 (18,200,391) at the end of September 2021.

Balance sheet

Equity by the end of September was MNOK 281.7 (MNOK 298.9). This equals an equity ratio of 77.7% (75.7%).

The balance sheet ended at MNOK 362.6 from MNOK 345.8 at the beginning of the year.

Cash from operations year to date, ended at MNOK 81.2. The cash position at the end of September ended at MNOK 89.6. The cash position by end September this year was MNOK 25.2 lower than as of September last year, since dividend for 2020 of MNOK 50,1 was delayed to fourth quarter in 2020 due to the pandemic situation. The company had MNOK 2.3 in interest-bearing debt and MNOK 23.3 in obligations related to lease contracts that are recognized in the balance sheet according to IFRS 16.

OPERATIONAL STATUS

Europe

In Europe for the quarter, sales of own products ended at MNOK 28.7, an increase of 33.0% compared to last year. Sales of third party products ended at MNOK 17.0, an increase of 19.0%.

Year to date September sales of own products ended at MNOK 84.9, an increase of 19.4% compared to last year. Sales of third party products ended at MNOK 55.9, an increase of 20.8%.

Currency neutral sales in Europe was last year down by 11.9% in the third quarter, due to the COVID pandemic, and is this quarter back to a strong normal.

USA

Medistim offers several business models in the USA, including sales of procedures (Pay Per Procedure or 'PPP'), leasing, and capital sales.

For the quarter, sales revenues increased by 11.9% in NOK. Currency neutral sales increased by 24.9%. Currency neutral sales in the U.S. this quarter last year increased by 6.5% despite of the COVID pandemic, hence we have a relatively strong comparable for the quarterly sales.

Similar year to date September, there was a sales increase of 10.4% in NOK. Currency neutral, the increase was 23.3%.

When including the extraordinary 'Paycheck Protection Program" income, the total revenue increase year to date September was 15.7%. in NOK and 29.2% in USD.

For the quarter, a total of 18,822 procedures were sold, compared to last year's 14,599. 3,788 (2,018) were imaging procedures and 15,034 (12,581) flow procedures. Capital sales were 10 (9) units.

Year to date September, a total of 54,211 procedures were sold, compared to last year's 42,160. 9,470 (6,868) were imaging procedures and 44,741 (35,292) flow procedures. Capital sales were 27 (23) units.

In the U.S., about 70% of bypass surgeries are performed with no quality assurance of blood flow other than surgeons using their fingertips to check for a pulse. It is clinically proven that this method is not reliable.

There is therefore a large potential and need for Medistim's products, and the company has high ambitions in the U.S. market. So far, Medistim has achieved a market penetration of about 23% of the total market of approximately 200,000 bypass surgery procedures performed annually. Medistim has a market penetration of about 80% in Germany, Scandinavia and Japan. Medistim expects that the market penetration in the USA will develop in the same manner over time.

Asia

Asia saw a 22.0 % increase in sales for the quarter and year to date September sales increased by 22.4% compared to last year. The sales increase was driven by Japan and China.

Rest of the World

Sales in 'Rest of the World' (MEA, Canada, South America and Australia) increased from MNOK 2.1 to MNOK 4.6 for the quarter. Year to date September sales declined from 14.1 MNOK to 12.1 MNOK. These markets constitute a relatively small sales region for Medistim so far and is subject to considerable variation in sales from quarter to quarter.

PROSPECTS AND TRENDS

Goals and vision

The company aims to develop products to meet surgeons' growing need for quality control of cardiac bypass surgery, peripheral vascular surgery, and transplant surgery. Our vision is that Medistim's solutions shall represent the "standard of care" in clinical practice and that blood flow measurements and intraoperative ultrasound imaging are made available to the benefit of every patient.

Strategy

Medistim's focus is to strengthen the company's ability to effectively commercialize its product portfolio on a global basis. One of the key routes to achieve this is closer contact with customers through a highly competent and effective sales and marketing organization. Another important strategic pathway is to engage with key opinion leaders in clinical research and produce enhanced clinical documentation for marketing purposes. Further, to grow the attention and interest in blood flow measurements, ultrasound imaging, surgical guidance and quality assurance and ensure these topics are on the agenda of the medical associations and in other relevant forums and channels.

Continuous technology and product development will secure Medistim's products and leading position within cardiac and vascular surgery in the future.

Market size and trends

On a global basis, more than 700,000 heart bypass surgeries are performed each year. The USA represents the largest market for Medistim's products, with almost 1/3 of the world market. The global number of procedures has kept stable over the past several years. The decrease in the number of procedures performed in the Western countries has been compensated by an increase in emerging markets such as China, Russia, and India. A stable to growing trend is therefore expected in the years to come.

Adding intraoperative ultrasound imaging to flow measurements more than doubles Medistim's market potential thanks to new applications and relevance and higher pricing compared to traditional flow measurement technology alone. The total market opportunity within CABG surgery is estimated to be NOK 2 billion annually. The imaging functionality makes MiraQ™ relevant in other cardiac surgeries and not just bypass surgery. Medistim estimates this additional potential to be NOK 1 billion.

The company also has a significant potential within the global vascular market, which is estimated to be more than 900,000 vascular procedures annually. Total market opportunity within vascular surgery is estimated to be over NOK 1.5 billion.

The general trend in surgery is moving towards minimally invasive and keyhole procedures, which gives the surgeon less workspace and ability to verify in a traditional way. There is therefore an increased need to verify the desired result in the future.

Global demographic trends are an important driving force for the many cost-efficiency initiatives around the world. Focus on quality is growing, driven by the need to reduce costs, particularly related to correction of errors, the need for repeated treatments and repeated hospital admissions. Medistim therefore has a good opportunity to position its products as an important contributor to achieving these goals.

Position and Competition

Medistim's flowmeters have been in use in more than two million patients worldwide since entering the market, and the company is the clear leader in its niche. In total, Medistim has installed 3,000 systems in more than 60 countries. The equipment is used today in about 33% of the total number of bypass surgeries performed worldwide. Medistim's penetration and market share are expected to grow gradually as quality assurance in surgery is getting increasing attention and acceptance.

There are competitors that use the transit time measurement principle. Equipment from competitors is estimated to be in use in about 7% of the procedures performed. This means that in about 60% of the cases where bypass surgery is performed there is no equipment in use to verify blood flow. This market represents Medistim's largest opportunity.

With Medistim's ultrasound imaging technology and MiraQ™ platform, the company has acquired another edge compared to its competitors, with unique and differentiated products that are currently alone in their segment.

Exposure towards currency

The company is exposed to EUR and USD. Exposure can vary depending on the share of its revenues and costs in USD and EUR relative to its total income and expenses. For 2021, a 10% change in the exchange rate against USD and EUR would result in an 8.2% change in sales and a 13.8% change in operating result. The company partly secures its positions with hedging contracts.

The COVID-19 pandemic

Cardiac by-pass surgery is to a large extent an elective procedure that can be scheduled with some time delay. When the outbreak of the COVID pandemic was a fact, several by-pass surgeries were postponed. Therefore, the number of by-pass procedures was reduced compared to the normal level. While Medistim has over several years shown a currency neutral growth of 7% to 10 % per year, 2020 ended without growth compared to 2019, all due to the pandemic.

Since the pandemic started to affect the Medistim business in second quarter of 2020, the effect has become gradually smaller, and in the second quarter of 2021, we saw a strong rebound in procedures performed and hence in the sales revenues. This rebound continues in this third quarter of 2021, and we continue to see strong growth in revenues due to the increase in number of CABG procedures performed. This increase corresponds with the reduction in hospitalizations of patients with COVID disease, which is again an effect of the growing vaccination rates in Medistim's core markets, Europe, and USA, and to some degree also in Japan and China.

Due to lower operating costs from travelling, conferences, general cost containment and sales growth, Medistim reports an all-time high EBIT result year to date September. Cash flow from operation was a solid MNOK 81.1 and the cash position was MNOK 89.6 after paying a dividend of MNOK 54.6 in the second quarter.

While Medistim has been affected by the COVID situation, the company have been able to deliver solid profit and cash flow. The need for Medistim's products has not changed, and the strong recovery seen through the second and third quarters of 2021 may indicate that cardiac bypass surgeries are at large back to normal.

SHAREHOLDER INFORMATION

The company had 124,000 Medistim shares by the end of September 2021. The shares were purchased at a price per share of NOK 14.70. The share price was NOK 320.00 per share at the end of the quarter. For comparison, entering 2021 the share price was 250.00 per share.

The number of shares sold in the third quarter of 2021 totaled 1,461,422. The five largest shareholders were Aeternum Capital with 1,862,500 shares, Odin Fondene with 1,800,000 shares, Intertrade Shipping AS with 1,285,000 shares, State Street Bank with 1,238,659 shares and State Street Bank with 1,103,104 shares.

Oslo October 21st 2021 Board of Directors and CEO of Medistim ASA

Øyvin A. Brøymer Chairman

Siri Fürst Board member Sign. Sign. Sign.

Torben Jørgensen Board member

Tove Raanes Board member

Lars Rønn Board member Sign. Sign. Sign.

Kari Eian Krogstad CEO

PROFIT & LOSS	Q3 2021	Q3 2020	YTD 30.09.21	YTD 30.09.20	Full Year 2020
1=NOK 1000
Sales revenue	102 138	83 361	309 244	268 949	363 133
Other revenue	-	-	5 292	-	-
Total revenue	102 138	83 361	314 536	268 949	363 133
Cost of goods sold	23 793	15 379	69 231	54 346	76 577
Salary and social expenses	35 478	31 186	93 089	86 889	119 066
Other operating expenses	11 882	10 170	38 000	37 517	48 865
Total operating expenses	71 152	56 736	200 319	178 752	255 944
Op. res. before depr. and write-offs
(EBITDA)	30 986	26 625	114 217	90 197	118 626
(EBITDA %)	30.3%	31.9%	36.3%	33.5%	32.7%
Depreciation	5 909	5 772	17 400	16 848	23 141
Operating profit (EBIT)	25 077	20 853	96 817	73 348	95 484
EBIT %	24.5%	25.0%	30.8%	27.3%	26.3%
Financial income	3 258	4 678	6 509	12 704	14 137
Financial expenses	4 351	6 864	8 670	14 367	18 015
Net finance	(1 093)	(2 185)	(2 161)	(1 663)	(3 878)
Pre tax profit	23 984	18 668	94 656	71 686	91 606
Tax	5 186	4 225	19 869	15 867	22 219
Profit after tax	18 798	14 442	74 788	55 818	69 387
Dividend	-	-	54 640	-	50 052
Comprehensive income
Profit after tax	18 798	14 442	74 788	55 818	69 387
Exchange differences arising on
translation of foreign operations	1 879	(1 595)	4 671	5 525	(965)
Total comprehensive income	20 677	12 847	79 459	61 343	68 422
KEY FIGURES	Q3 2021	Q3 2020	YTD 30.09.21	YTD 30.09.20	Full Year 2020
1=NOK 1000
Equity share	77.68%	75.73%	77.68%	75.73%	74.27%
Earnings per share	NOK 1.03	NOK 0.79	NOK 4.11	NOK 3.07	NOK 3.81
Earnings per share diluted	NOK 1.03	NOK 0.79	NOK 4.10	NOK 3.06	NOK 3.80
Average shares outstanding in 1000	18 213	18 201	18 213	18 200	18 200
Average shares outstanding in 1000
diluted	18 246	18 238	18 246	18 237	18 237

SPLIT OF EBIT PER SEGMENT	Q3 2021	Q3 2020	YTD 30.09.21	YTD 30.09.20	Full Year 2020
1=NOK 1000
EBIT from Medistim products	22 259	20 315	85 532	67 924	86 334
EBIT margin Medistim products	26.2%	29.4%	33.8%	30.5%	29.2%
EBIT from 3rd party products	2 818	539	11 285	5 424	9 150
EBIT margin from 3rd party products	16.5%	3.8%	20.2%	11.7%	13.5%
Total EBIT	25 077	20 853	96 817	73 348	95 484
Total EBIT margin	24.5%	25.0%	30.8%	27.3%	26.3%

BALANCE SHEET	9/30/2021	9/30/2020	12/31/2020
1=NOK 1000
Assets
Intangible assets	30 643	35 377	33 463
Machinery and equipment	57 861	65 625	64 684
Other fixed assets	1 545	2 265	1 885
Fixed assets	59 406	67 890	66 570
Total tangible and fixed assets	90 048	103 266	100 033
Inventory	106 128	112 910	112 667
Customers receivables	66 907	55 943	57 485
Other receivables	9 847	7 731	3 744
Cash	89 658	114 899	71 891
Total current assets	272 540	291 484	245 787
TOTAL ASSETS	362 588	394 750	345 820
Equity and liability
Share capital	4 585	4 585	4 585
Share premium reserve	44 172	44 172	44 172
Other equity	232 907	250 194	208 089
Total equity	281 664	298 951	256 846
Long term debt
Lease obligations	16 393	22 461	21 652
Deferred income	152	3 215	265
Other long term debt	1 793	8 196	7 580
Total long term debt	18 339	33 872	29 497
Total short term debt	62 585	61 928	59 477
TOTAL EQUITY AND LIABILITY	362 588	394 750	345 820

CHANGE IN EQUITY	9/30/2021	9/30/2020	12/31/2020
Equity start of period	256 846	236 861	236 861
Result for the period	74 788	55 818	69 387
Capital increase	-	-	-
Dividend	-54 640	0	-50 052
Other	-	747	-
Medistim shares	-	-	1 615
Changes in exchange rates	4 671	5 525	-965
Equity end of period	281 664	298 951	256 846
CASH FLOW ANALYSIS	9/30/2021	9/30/2020	12/31/2020
Result for the period	74 788	55 818	69 387
Other cash flow from operation	6 380	-1 375	4 946
Cash flow from operation	81 167	54 443	74 333
Cash flow from investments	-6 510	-3 986	-10 639
Cash flow from financial activities	-56 890	-2 250	-58 549
Change in cash for the period	17 767	48 207	5 145
Cash at start of period	71 891	66 692	66 745
Cash by the end of period	89 658	114 899	71 891

GEOGRAPHIC SPLIT OF SALES	Q3 2021	Q3 2020	YTD 30.09.21	YTD 30.09.20	Full Year 2020
1=NOK 1000
USA	38 536	34 461	115 044	99 434	126 408
Asia	13 232	10 847	46 474	37 967	46 811
Europe	45 770	35 927	140 844	117 422	173 263
Rest of the world	4 600	2 126	12 174	14 126	16 651
TOTAL REVENUE	102 138	83 361	314 536	268 949	363 133

SPLIT OF SALES PER PRODUCT SEGMENT	Q3 2021	Q3 2020	YTD 30.09.21	YTD 30.09.20	Full Year 2020
1=NOK 1000
USA
Procedural revenue flow	17 259	17 771	61 420	57 615	75 484
Procedural revenue Imaging and flow	11 123	7 533	21 757	18 403	23 892
Capital sale flow systems	5 202	4 122	12 535	9 225	12 022
Capital sale imaging and flow systems	4 953	5 036	14 039	14 191	15 011
Outside USA
Flow systems	6 760	5 741	20 917	24 542	35 225
Imaging and flow systems	7 593	4 225	28 761	20 030	29 179
Imaging probes	1 582	807	5 086	3 928	5 219
Flow probes	30 152	23 420	85 380	69 795	92 626
Other	467	381	3 408	4 911	6 927
Total sale of Medistim products	85 089	69 034	253 303	222 641	295 585
Other USA	-	-	5 292	-
Sale of 3rd party products	17 049	14 327	55 941	46 309	67 549
TOTAL REVENUE	102 138	83 361	314 536	268 949	363 134
SPLIT OF SALES BETWEEN CARDIAC
AND VASCULAR SURGERY	Q3 2021	Q3 2020	YTD 30.09.21	YTD 30.09.20	Full Year 2020
1=NOK 1000
Sales within cardiac surgery	70 189	59 542	216 023	188 780	250 483
Sales within vascular surgery	14 900	9 492	37 280	33 861	45 102
Other	0	-	5 292	-
Sales of 3rd party products	17 049	14 327	55 941	46 309	67 549
TOTAL REVENUE	102 138	83 361	314 536	268 949	363 134

GEOGRAPHIC SPLIT OF SALES IN UNITS	Q3 2021	Q3 2020	YTD 30.09.21	YTD 30.09.20	Full Year 2020
USA
Procedures flow measurement	15 034	12 581	44 741	35 292	47 256
Procedures imaging and flow	3 788	2 018	9 470	6 868	8 803
Capital sales flowmeasurement systems	6	5	15	12	14
Capital sales imaging and flow systems	4	4	12	11	12
Lease flow systems	-	4	6	7	10
Lease imaging and flow systems	1	-	8	-	3
Asia
Flow systems	8	13	43	54	63
Imaging and flow systems	5	4	22	16	19
Imaging probes	8	6	28	25	26
Flow probes	507	313	1 900	1 230	1 693
Europe
Flow systems	11	9	31	30	52
Imaging and flow systems	7	2	21	10	19
Imaging probes	10	4	33	20	36
Flow probes	1 170	902	3 310	2 776	3 943
Rest of the world
Flow systems	5	3	9	10	9
Imaging and flow systems	1	-	5	8	9
Imaging probes	4	-	7	8	13
Flow probes	319	108	517	444	582
Total sales outside the US
Flow systems	24	25	83	94	124
Imaging and flow systems	13	6	48	34	47
Imaging probes	22	10	68	53	75
Flow probes	1 996	1 323	5 727	4 450	6 218

marketing@medistim.com www.medistim.com

Medistim ASA (Head office) Økernveien 94 0579 Oslo

Norway Phone +47 23 05 96 60

Medistim ASA (Manufacturing) Bromsveien 17

3183 Horten Norway Phone +47 33 03 17 26

Medistim Norge AS

Økernveien 94 0579 Oslo Norway Phone +47 23 03 52 50

Medistim Danmark ApS Søgade 16

4100 Ringsted Denmark Phone +45 23 800 300

Medistim USA Inc.

14000 25th Ave N. Ste. 108 Plymouth, MN 55447 USA Phone +1 763 208 9852

Medistim Deutschland GmbH Bahnhofstr. 32 82041 Deisenhofen Germany Phone +49 (0) 89 62 81 90 33

Medistim Spain S.L.

Calle Balmes 173, 4º, 2 08006 Barcelona, Spain Phone +34 911 238 318

Medistim UK Limited

34 Nottingham South Ind Est Ruddington Lane Wilford NG11 7EP Nottingham, UK Phone +44 (0) 115 981 0871