ContextVision AB — Interim / Quarterly Report 2026

May 8, 2026

ContextVision AB: Q1 interim report 2026 - Solid progress and disciplined execution in a stabilising market

ContextVision AB: Q1 interim report 2026 - Solid progress and disciplined execution in a stabilising market

Q1 Highlights

* Continued execution in a stabilising market, with underlying revenue growth

of approximately 7.4%.

* Announced strategic R&D collaboration with BeamWorks to advance AI-powered

quantitative ultrasound imaging solutions.

* Continued progress in clinical development program at the University of

Washington.

* Strengthened the leadership team with the appointment of Marco Marien

Voormolen as Chief Technology Officer.

* Sustained strong customer engagement at ECR 2026, supporting an active

pipeline of technical and commercial follow-up activities.

* Extended the ongoing share buyback program until May 11, 2026.

Q1 Financial Data

* Revenue of 28.5 MSEK (26.3), up 8.5%.

* EBITDA amounted to 2.8 MSEK (--1.7) with an EBITDA margin of 10.0% (--6.3).

* Adjusted EBITDA amounted to 5.8 MSEK (2.1) with an adjusted EBITDA margin of

20.5% (8.1).*

* Cash flow from operating activities was 4.3 MSEK (0.3).

* Earnings per share was 0.01 SEK (--0.04).

* Adjusted earnings per share was 0.05 SEK (0.01).*

* ContextVision adjusts for investments in Data Quality to facilitate analysis

of the underlying business.

The investments amounted to 3.0 MSEK in Q1 2026.

Solid progress and disciplined execution in a stabilising market

The first quarter of 2026 reflects continued execution in a stabilising

market, alongside solid progress toward data-driven quantitative imaging. As

part of our ongoing development, we strengthened our leadership team with the

appointment of Marco Marien Voormolen as Chief Technology Officer. In

parallel, we announced a promising collaboration with BeamWorks -- an

important milestone supporting our long-term value creation ambitions.

Revenue for the first quarter of 2026 amounted to 28.5 MSEK (26.3), an

increase of 8.5% compared to Q1 2025. During the first quarter, ContextVision

refined its assessment of the timing of revenue recognition for certain

customer contracts, impacting revenue recognition within the period. In

addition, a translational FX effect of -5.7% had a negative impact on sales,

corresponding to -1.3 MSEK. Everything considered, the positive effect from

the updated assessment and the negative impact from FX largely offset each

other, and we saw an underlying revenue growth of approximately 7.4% for the

quarter in a cautiously stabilising market. In contrast to Q1 2025, which was

significantly impacted by challenging market conditions, this quarter

benefited from increased license sales and additional contracts signed with

clients, contributing positively to performance.

Adjusted EBITDA came in at 5.8 MSEK (2.1), corresponding to a margin of 20.5%

(8.1), excluding investments in Data Quality of 3.0 MSEK. The improvement in

profitability reflects increased license revenues combined with disciplined

cost control. At the same time, we maintained our investments in quantitative

imaging, while a more efficient allocation of consultant resources contributed

to overall lower R&D costs.

The global political environment continued to contribute to cautious

healthcare investment decisions globally. Looking back, the Chinese ultrasound

market declined by approximately 8.5% for the full year 2025. This development

was primarily driven by nationwide changes in procurement processes, where

purchasing has become increasingly centralised. As a result, procurement

cycles have temporarily slowed, rather than reflecting a reduction in

underlying demand. Despite this market development, ContextVision has

continued to strengthen and expand its relationships with Chinese customers

through ongoing discussion and collaborations, positioning ContextVision well

to benefit as procurement activity normalises and delayed purchasing processes

resume.

Recognising the importance of reinforcing relationships remains a priority in

the current market environment. We actively participated in ECR 2026, where

ContextVision held a broad range of meetings with partners and prospects

within ultrasound and X-ray. These discussions confirmed continued demand for

high diagnostic image quality, robust performance in complex cases, and

workflow simplification. Overall, the event reinforced the strategic relevance

of our image quality portfolio and resulted in an active pipeline of follow-up

activities with defined technical and commercial actions for the coming

months.

During the quarter, we also announced a strategic research and development

collaboration with BeamWorks Inc. The collaboration brings together

ContextVision's expertise in ultrasound image processing with BeamWorks' deep

learning platform. The companies aim to conduct joint R&D projects to develop

and commercialize ultrasound-based digital biomarkers that support

point-of-care clinical decision-making. With ContextVision's existing MASLD

biomarker program and BeamWorks' CadAI product line, we aim to accelerate

innovation and enhance diagnostic accuracy.

Further supporting this development, Marco Marien Voormolen joined as Chief

Technology Officer at the beginning of the year. His expertise will support

the execution of our technology roadmap, enhance collaboration with OEM

partners and the research community, and accelerate our expansion beyond image

enhancement into new solution areas.

Looking ahead to the coming quarters, we will continue to execute on our

priorities while capitalising on emerging opportunities in the market. As a

continued sign of confidence in our capital structure and direction, during

the quarter we extended our ongoing share buy-back program for a further two

months until May 11, 2026, reflecting our commitment to delivering sustainable

long-term value creation.

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 has been submitted pursuant to the Securities Trading Act §

5-12 and MAR. The information was submitted for publication, through the

agency of the contact persons set out above, at 2026-05-08 08:00 CEST.