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ER - ContextVision AB: Q1 interim report 2025 - Executing on our strategy for Image Quality and Data Quality

Company: ContextVision AB Date: 2025-05-07 Language: English Register to download

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 ContextVision AB: Q1 interim report 2025 - Executing on our strategy for Image Quality and Data Quality

# ContextVision AB: Q1 interim report 2025 - Executing on our strategy for Image Quality and Data Quality

Q1 highlights  

  

· Partnership signed with the University of Washington as we progress our aim  

to develop organ-specific digital biomarkers  

· Investments in ultrasound equipment to support our clinical research in the  

U.S.  

· Attended the ECR Conference with high interest from current and potential  

customers  

· Fruitful collaborations with customers to support a larger part of the image  

processing chain  

  

Q1 Financial Data  

  

· Revenue of 26.3 MSEK (34.7) , down 24,2%.  

· EBITDA amounted to -1.6 MSEK (12.8) with an EBITDA margin of -6.3% (36.9).  

· Adjusted EBITDA amounted to 2.1 MSEK (14.0) with an adjusted EBITDA margin  

of 8.1% (40.3).\*  

· Cash flow from operating activities was 0.3 MSEK (7.1).  

· Earnings per share was -0,04 SEK (0.11).  

· Adjusted earnings per share was 0.01 SEK (0.13).\*  

  

\* ContextVision do adjustments for investments in Data Quality to make it easier  

to analyse the underlying business. The investments amounted to 3.8 MSEK in Q1  

2025.  

  

Executing on our strategy for Image Quality and Data Quality  

  

The first quarter of the year has been eventful from many perspectives. Global  

macroeconomic factors continue to create uncertainty in the market, combined  

with an unfavorable seasonality for us. Despite this, we remain firmly committed  

to executing on our long-term strategy, with new partnerships within Data  

Quality, record high interest from both existing and potential Image Quality  

customers, and an increasing focus on expanding our revenue streams from  

Services.  

  

Revenue from the first quarter amounted to 26.3 MSEK (34.7), a decrease of 24.2%  

compared to the record high Q1 2024. The decline is primarily explained by  

translational FX of -1.8%, seasonal impacts affecting sales among some of our  

larger customers, and an unfavorable ultrasound customer mix as new platforms,  

in which we are not yet integrated in, gained market share. In addition, the  

sales push from one customer in Q4 had a dampening effect on their sales this  

quarter.  

  

Adjusted EBITDA came in at 2.1 MSEK (14.0), corresponding to an adjusted EBITDA  

margin of 8.1% when excluding investments in Data Quality of 3.8 MSEK. The  

decrease in profitability was primarily driven by increased investments and  

transactional FX effects of -3.9 MSEK year-on-year, as the SEK strengthened  

against USD and EUR. Our investments are related to Data Quality and the start  

of the clinical study, including the onboarding of new partners and investments  

in hardware, IT and associated equipment. We expect investment levels in Data  

Quality to stay elevated going forward, as the study progresses.  

  

As we move forward, we continue to execute our strategy across both Image  

Quality and Data Quality. In Image Quality we are engaging in an unprecedented  

number of close collaborations with customers, where we can provide high-quality  

support across the image processing chain. This expands our share of wallet by  

providing greater value and thereby strengthening our revenue resilience,  

particularly if license sales fluctuate.  

  

In Data Quality, we are taking significant steps. During the quarter, we signed  

a partnership with the University of Washington to initiate clinical research  

aimed at developing AI-based solutions for organ-specific data interpretation.  

After the quarter, we further strengthened our position through partnerships  

with the University of Waterloo's Laboratory on Innovative Technology in Medical  

Ultrasound (LITMUS) and InPhase Solutions AS. These collaborations enhance our  

technical and clinical capabilities in developing digital biomarkers for the  

early detection and monitoring of liver diseases. Today, approximately 25% of  

the global population is estimated to be affected by fatty liver disease,  

creating a growing societal need for non-invasive diagnostic solutions. We have  

a clear ambition of taking a leading role in this market, and we look forward to  

announcing more partnerships supporting this mission in the near future.  

  

Finally, I would like to highlight the strong reputation that ContextVision  

holds in our field. At the European Congress of Radiology in Vienna in February  

we recorded a record number of customer meetings, and successfully renewed  

several contracts.  

  

Looking ahead, we anticipate continued quarterly market fluctuations. However,  

by consistently executing on our dual strategy across Image and Data Quality, we  

are building new revenue streams and sources of growth while maintaining control  

of near-term cash flow.  

  

Dr. Dr. Gerald Pötzsch,  

Chief Executive Officer  

  

For more information, please contact  

Richard Hallström,  

Chief Financial Officer  

richard.hallstrom@contextvision.com  

  

About ContextVision  

ContextVision is a software company specialized in image analysis and artificial  

intelligence. As the global market leader within image enhancement, we are a  

trusted partner to leading manufacturers of ultrasound, X- ray and MRI equipment  

around the world. Our expertise is to develop powerful software products, based  

on proprietary technology and artificial intelligence for image-based  

applications. Our cutting-edge technology helps clinicians accurately interpret  

medical images, a crucial foundation for better diagnosis and treatment. The  

company, established in 1983, is based in Sweden with local representation in  

the U.S., Japan, China and Korea. ContextVision is listed on the Oslo Stock  

Exchange under the ticker CONTX.  

  

This information is inside information pursuant to the EU Market Abuse  

Regulation and is subject to the disclosure requirements pursuant to Section 5  

\-12 the Norwegian Securities Trading Act. The information was submitted for  

publication, through the agency of the contact person set out above, at 08.00  

a.m. CET on May 7, 2025.