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Intrasense — Earnings Release 2025
Mar 11, 2026
1447_iss_2026-03-11_5f8e4f67-171d-4634-b2fc-3bfcad88f4f1.pdf
Earnings Release
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intrasense
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2025 Annual Results
- Revenue up 28%, driven by international markets
- Product portfolio strengthened through regulatory certifications creating new opportunities in the growing AI oncology market
- Transformation launched in 2025, aligning with a path toward financial breakeven
Montpellier, France, March 11, 2026, 5 :45. Intrasense (ISIN: FR0011179886 – Ticker: ALINS), a French expert in AI-powered medical imaging solutions that facilitate diagnosis, decision-making, and therapeutic follow-up, announces the publication of its 2025 annual results. These financial statements were approved by the Board of Directors on March 11, 2026.
Stephen Armand, CEO of Intrasense, stated:
« 2025 marked a strategic turning point for Intrasense. From a commercial standpoint, revenue is growing again after several years of decline. On the product side, we continued to expand the DUOnco™ portfolio with the CE marking of DUOnco™ Bones and DUOnco™ Pancreas, while maintaining significant releases for Myrian® and Liflow®. Financially, we have initiated a transformation plan that will involve workforce reductions and the streamlining of external expenses. »
Results Impacted by Ongoing Transformation
Starting with this fiscal year, Intrasense will no longer publish consolidated financial statements under IFRS. The financial statements presented hereafter correspond to the statutory accounts prepared in accordance with French accounting standards (French GAAP).
Commercial dynamic driven by international markets
For the 2025 fiscal year, Intrasense reported consolidated revenue of €3.2 million, representing a 43% increase compared to the previous year.
This return to growth marks a significant inflection point for the Company, notably reflecting the impact of commercial investments initiated in 2024, which gained full momentum throughout 2025. This dynamic was supported by a sustained level of order intake, exceeding €6 million for the year, resulting in a backlog of over €3.0 million for the next three years. This visibility serves as a structural asset for Intrasense's financial trajectory.
The year 2025 was marked by a strong progression in sales in Europe (+316%). In France, business also showed double-digit growth (+13%), confirming the strength of the Company's historical market positions.
Conversely, certain geographic regions, notably in Asia (-39%), experienced a slowdown due to deliberate strategic adjustments and commercial trade-offs. This reallocation of efforts toward the most promising markets contributes to improving the quality of revenue and strengthening medium-term visibility.
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Annual Statutory Statements
| In K€ | 2025 | 2024 |
|---|---|---|
| Net Sales | 2 963 | 2 317 |
| Operating income | 7 620 | 5 488 |
| operating expenses | (15 499) | (10 710) |
| Operating profit before depreciation and amortization | (6 926) | (3 697) |
| Current operating profit | (7 880) | (5 222) |
| Financial result | (629) | (760) |
| Non-recurring items | (2 800) | (92) |
| Net Income for the period | (10 809) | (5 147) |
Net revenue under statutory accounts amounted to €3.0 million, an increase of +27.9% compared to the previous fiscal year (€2.3 million). At the Group level (including the Chinese subsidiary), consolidated revenue stood at €3.2 million ¹.
Operating income (total operating revenue) reached €7.6 million, an increase of €2.1 million, driven by a €0.6 million increase in revenue and €2.4 million in reversals of provisions (including €2.3 million related to the reversal of the impairment of the shareholder loan to the subsidiary INTRASENSE Inc.), which offset the €0.9 million decrease in capitalized production related to LIFLOW, which no longer met the capitalization criteria in 2025.
Total operating expenses reached €15.5 million, up by €4.8 million (€10.7 million in 2024). This trend is mainly explained by:
- An increase in wages and salaries of €0.65 million, due to headcount growth during the first half of the year, an average salary increase of 3%, as well as one-off items amounting to €0.3 million.
- An impairment charge of €1.8 million related to the Liflow asset, following the announcement of the "Controlled Release" phase.
- The €2.3 million loss recognized on the shareholder loan granted to the subsidiary Intrasense Inc., liquidated as of December 31, 2025.
¹ Refer to the press release of February 5, 2026 (https://intrasense.fr/wp-content/uploads/2026/02/RP_AR_2025.pdf)
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Operating income (EBIT) stood at -€7.9 million, down -48.1% compared to the previous fiscal year (-€5.2 million in 2024). The fiscal year was also impacted by a non-recurring charge of €2.8 million related to the restructuring plan initiated in 2025. In total, net losses amounted to -€10.8 million, compared to -€5.1 million the previous year.
These results reflect a transition year for the Group. The 2025 fiscal year includes several non-recurring items, notably the impairment of the Liflow® asset, the liquidation of the U.S. subsidiary and charges related to the restructuring plan launched to align the organization with the Group's strategic priorities. Within this context, Intrasense is continuing to develop its commercial activities and streamline its cost base to strengthen its medium-term value creation trajectory.
A stable financial position
Intrasense's net cash as of December 31, 2025, amounted to €0.8 million, compared to €0.7 million as of December 31, 2024. The Company benefited from €6.1 million in shareholder current accounts provided by Guerbet, its main shareholder, during the 2025 fiscal year.
As of December 31, 2025, loans and financial liabilities stood at €10.9 million, compared to €4.6 million as of December 31, 2024. This significant increase is explained by the advances made by Guerbet to Intrasense.
Furthermore, the Company continues to repay its outstanding loans, including State-Guaranteed Loans (PGE and Resilience PGE) for a total of €0.2 million. The amount of new loans subscribed (€0.2 million) corresponds to the repayable advance portion from BPIFrance as part of the France 2030 "Innovation in Medical Imaging" call for projects.
Product portfolio strengthening
From a technological standpoint, 2025 was a structural year for Intrasense's solution portfolio:
- The Myrian® platform, the historical core of the offering, relies on a proven technological base and several years of R&D investment. The solution is now evolving through targeted updates, incorporating user feedback to maintain high levels of customer satisfaction. Beyond its clinical relevance, Myrian®'s strong performance during the fiscal year was driven by dedicated commercial efforts, particularly through strategic partnerships.
- The Liflow® solution, dedicated to longitudinal follow-up for oncology patients, has been placed in "Controlled Release." This involves a limited launch across several pilot centers to continue clinical and technical validations under real-world conditions before considering a full commercial rollout.
- The DUOnco™ range, dedicated to oncology and co-developed with Guerbet, reached several major regulatory milestones with the CE marking of various algorithms (bone, pancreas). These validations strengthen the clinical and commercial credibility of Intrasense's solutions among European healthcare
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professionals. Furthermore, since the end of 2025, commercial traction for this solution has intensified, culminating in the signing of a first partnership with deepc².
In the context of the digital transformation of healthcare facilities, the combination of advanced visualization tools and certified AI algorithms positions Intrasense as an innovative player in the medical imaging and oncology segments.
Restructuring initiated for 2026 to strengthen operating efficiency
In parallel with the growth momentum established in 2025, Intrasense initiated the progressive implementation of a structural action and savings plan during the second half of the year. This plan aims to strengthen financial discipline and accelerate the return to operating breakeven.
The plan is based on a rationalization of fixed costs, an optimization of external expenses, and strict prioritization of investments, focusing resources on activities with the highest commercial and technological potential.
Deployed gradually to avoid hindering growth, this plan is designed to improve operating margins over the medium term and consolidate the financial structure amidst sustained international development.
This plan will have no impact on business continuity or current commercial commitments and is part of a trajectory toward achieving financial breakeven in the medium term.
Next financial announcement:
2026 half-year revenue: July 23 (after market close)
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About Intrasense
A French expert in medical imaging since 2004 and a digital subsidiary of the Guerbet Group since 2023, Intrasense designs medical imaging software solutions natively enriched by artificial intelligence algorithms.
Intrasense Product portfolio includes Myrian®, an advanced radiology visualization platform featuring cutting-edge clinical tools, which optimizes and simplifies the interpretation of all types of images. DUOnco™, a range of expert AI algorithms for oncology, offers AI for the detection of pancreatic lesions, focal liver lesions, and the world's first CE-marked AI dedicated to bone lesions. Liflow®, a dedicated oncology monitoring solution integrating multi-organ AI, optimizes the longitudinal monitoring of cancer patients.
By combining clinical expertise and operational performance, Intrasense provides healthcare professionals with high medical value tools, facilitating analysis, diagnosis and patient management. More information on www.intrasense.fr
Contacts
INTRASENSE
Communication Officer
Salomé Sylvestre
Phone: +334 67 13 01 30
SEITOSEI.ACTIFIN
Investor relations
Foucauld Charavay
Phone: +336 37 83 33 19
Press relations
Isabelle Dray
Phone: +33 6 85 36 85 11
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