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    Interim report January 1 - March 31, 2017

    RaySearch Laboratories AB (publ)

    “The positive trend continued in the first quarter and net sales increased 33 percent to SEK 127 M (95), of which revenues from RayStation® rose 39 percent to SEK 112 M (81), and operating profit rose 43 percent to SEK 33 M (23). MD Anderson has become collaboration partner regarding RayCare® and the development work is progressing as planned,” says Johan Löf, President and CEO of RaySearch. 

    THREE MONTHS (JANUARY-MARCH 2017) 

    • Net sales SEK 126.8 M (95.4), of which revenues from RayStation SEK 112.3 M (80.8) 
    • Profit after tax SEK 26.3 M (17.8), and earnings per share before/after dilution SEK 0.77 (0.52) 
    • Operating profit SEK 33.5 M (23.4) 
    • Cash flow negative SEK 3.0 M (neg: 5.2) 
    • Order intake excl. service agreements SEK 104.9 M (81.9), of which RayStation SEK 93.8 M (72.6) 
    • At the end of the period, order backlog for RayStation was SEK 58.1 M (47.1)

    SIGNIFICANT EVENTS DURING THE FIRST QUARTER 

    • RayStation 6 was launched*, making RayStation the only treatment planning system that can create plans for Accuray’s TomoTherapyTM treatment system, in addition to conventional linear accelerators. 
    • RayStation was chosen by several leading cancer clinics, including Nottingham City Hospital in the UK, Zhuozhou in China, the Tata Memorial Centre in India, Kennestone Hospital (part of WellStar Health System) and Sharp Memorial Hospital (part of Sharp HealthCare) in the US. In addition, among others, the Maryland Proton Treatment Center, in partnership with the University of Maryland, have expanded their RayStation installations. 
    • The University Health Network (UHN) in Canada has exclusively licensed a new artificial intelligence (AI) technology for automated radiation therapy treatment planning (AutoPlanning) to RaySearch. 
    • Long-term collaborative agreement with MD Anderson related to RayCare*. 
    • RaySearch’s CEO and founder, Johan Löf was named Sweden’s foremost entrepreneur in the Swedish final of the EY Entrepreneur of the Year 2016 competition. 

    * Regulatory clearance required in some markets

    NO SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD 

    ABOUT RAYSEARCH
    RaySearch Laboratories is a medical technology company that develops advanced software solutions for improved radiation therapy of cancer. RaySearch develops and markets the RayStation treatment planning system to clinics all over the world and distributes the products through licensing agreements with leading medical technology companies. The company is also developing the next-generation oncology information system, RayCare, which comprises a new product area for RaySearch, and will be launched in 2017. RaySearch’s software is currently used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from the Karolinska Institute in Stockholm and the share has been listed on Nasdaq Stockholm since 2003.
    More information about RaySearch is available at www.raysearchlabs.com. 

    FOR FURTHER INFORMATION, PLEASE CONTACT:
    Johan Löf, President and CEO                  Tel: +46 8 510 530 00           E-mail:
    johan.lof@raysearchlabs.com
    Peter Thysell, CFO                                    Tel: +46 70 661 05 59           E-mail: peter.thysell@raysearchlabs.com
     

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    RaySearch Annual Report for 2016

    RaySearch Laboratories AB (publ) today published the English version of the Annual Report for 2016 on its website. The document also includes RaySearch’s corporate governance report.

    The Annual Report for the accounting period 1 January–31 December 2016 is now available at: www.raysearchlabs.com/investor

    Printed copies can be ordered by emailing a request to: ir@raysearchlabs.com

    As previously communicated, the RaySearch Annual General Meeting will be held on 23 May 2017 at 18:00 at RaySearch’s head office: Sveavägen 44, Stockholm, Sweden. The deadline for registration of attendance is 16.00 on 17 May 2017.

    About RaySearch
    RaySearch Laboratories AB (publ) is a medical technology company that develops innovative software solutions for improved cancer treatment. RaySearch markets the RayStation treatment planning system to clinics all over the world and distributes products through licensing agreements with leading medical technology companies. The company is also developing the next-generation oncology information system, RayCare®, which comprises a new product area for RaySearch, and which will be launched in 2017. RaySearch’s software is used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from Karolinska Institutet in Stockholm and the share has been listed on Nasdaq Stockholm since November 2003.

    More information about RaySearch is available at www.raysearchlabs.com

    For further information, please contact:
    Johan Löf, President and CEO, RaySearch Laboratories AB (publ)
    Telephone: +46 (0)8-510 530 00
    johan.lof@raysearchlabs.com

    RaySearch Laboratories AB (publ) discloses the above information in accordance with securities market legislation. The information was first disclosed on 28 april 2017 at 10.00 CET.

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    RaySearch Laboratories AB (publ) Year-end Report 2016

    “A strong fourth quarter ended a new record year. In 2016, net sales rose 34 percent to SEK 531 M (398), of which revenues from RayStation® rose 58 percent to SEK 476 M (300), and operating profit rose 109 percent to SEK 200 M (95). The development of RayCare®* is continuing as planned,” says Johan Löf, President and CEO of RaySearch.

    FOURTH QUARTER (OCTOBER-DECEMBER, 2016) 

    • Net sales SEK 191.4 M (132.0), of which revenues from RayStation SEK 174.8 M (109.4) 
    • Profit after tax SEK 75.9 M (33.3), and earnings per share before/after dilution SEK 2.21 (0.97) 
    • Operating profit SEK 100.2 M (44.3) 
    • Cash flow SEK 56.6 M (12.4) 
    • Order intake excl. service agreements SEK 189.0 M (117.9), of which RayStation SEK 176.3 M (102.9)  
    • Order backlog for RayStation was SEK 67.5 M (49.1) at the end of the period

    TWELVE MONTHS (JANUARY-DECEMBER, 2016) 

    • Net sales SEK 531.5 M (397.6), of which revenues from RayStation SEK 476.0 M (300.4) 
    • Profit after tax SEK 151.4 M (70.2), and earnings per share before/after dilution SEK 4.42 (2.05) 
    • Operating profit SEK 200.0 M (95.3) 
    • Cash flow SEK 26.2 M (3.6) 
    • Order intake excl. service agreements SEK 501.1 M (385.2), of which RayStation SEK 461.0 M (316.9)  
    • The Board of Directors proposes that no dividend be paid for 2016

    SIGNIFICANT EVENTS DURING THE FOURTH QUARTER 

    • RaySearch secured several major orders, including Chang Gung Memorial Hospital (Kaohsiung) in Taiwan and the University of Washington Medical Center, University of Wisconsin-Madison and University of Arizona Radiation Oncology (Tucson) in the US. 
    • Erik Hedlund resigned from his position as Chairman of the Board and left the Board on November 17, 2016. Carl Filip Bergendal was elected new Chairman until the Annual General Meeting on May 23, 2017. 
    • In December, 1,567,089 Class A shares were converted to Class B shares at the request of shareholders. 

    SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD 

    • RayStation 6 was launched* and is the only treatment planning system that can create plans for both conventional linear accelerators and Accuray’s TomoTherapyTM treatment system. 
    • University Health Network (UHN) in Canada exclusively licensed a new artificial intelligence (AI) technology for automated radiation therapy treatment planning (AutoPlanning) to RaySearch. 
    • RaySearch’s CEO and founder, Johan Löf was named Sweden’s foremost entrepreneur in the national final of the EY Entrepreneur of the Year competition. 

    ABOUT RAYSEARCH 

    RaySearch Laboratories is a medical technology company that develops advanced software solutions for improved radiation therapy of cancer. RaySearch develops and markets the RayStation treatment planning system to clinics all over the world and distributes the products through licensing agreements with leading medical technology companies. The company is also developing the next-generation oncology information system, RayCare, which comprises a new product area for RaySearch, and will be launched in 2017. RaySearch’s software is currently used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from the Karolinska Institute in Stockholm and the share has been listed on Nasdaq Stockholm since November 2003. More information about RaySearch is available at www.raysearchlabs.com. 

    FOR FURTHER INFORMATION, PLEASE CONTACT: 

    Johan Löf, President and CEO
    Tel: +46 8 510 530 00
    Email:
    johan.lof@raysearchlabs.com 

    Peter Thysell, CFO
    Tel: +46 70 661 05 59
    Email: peter.thysell@raysearchlabs.com
     

    The information contained in the interim report is such that RaySearch Laboratories AB (publ) is obliged to disclose under the EU’s Market Abuse Regulation and the Securities Market Act. The information was submitted for publication on February 17, 2017 at 7:45 a.m. CET.

    *Regulatory approval is required in some markets.

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