Financial Reports

Year-end Report January 1 - December 31, 2017

RaySearch Laboratories AB (publ)

“In 2017, net sales rose 10 percent to SEK 585 M (531). The operating margin declined to 27 percent (38) due to lower growth for RayStation®, negative currency effects due to the weakening of the USD and higher costs due to the company’s investments in the global marketing organization and in research and development. RayStation 7 and RayCare® 1 were launched as planned and we have already secured the first order for RayCare,” says Johan Löf, President and CEO of RaySearch.


  • Net sales SEK 204.9 M (191.4), of which revenues from RayStation/RayCare SEK 192.6 M (174.8)  
  • Profit after tax SEK 72.3 M (75.9) and earnings per share before/after dilution SEK 2.11 (2.21) 
  • Operating profit SEK 98.7 M (100.2) 
  • Cash flow SEK 34.6 M (56.6) 
  • Order intake excl. service agreements SEK 192.6 M (189.0), of which RayStation/RayCare SEK 183.2 M (176.3)  
  • Order backlog for RayStation/RayCare was SEK 50.0 M (67.6) at the end of the period


  • Net sales SEK 585.1 M (531.5), of which revenues from RayStation/RayCare SEK 531.7 M (476.0)  
  • Profit after tax SEK 117.6 M (151.4) and earnings per share SEK 3.43 (4.42) 
  • Operating profit SEK 159.7 M (200.0) 
  • Cash flow SEK 19.1 M (26.2) 
  • Order intake excl. service agreements SEK 508.4 M (501.1), of which RayStation/RayCare SEK 467.8 M (461.0)  
  • The Board of Directors proposes that no dividend be paid for 2017


  • RayStation was selected by a number of leading cancer clinics, for example, Sharp Grossmont Hospital, Anderson Regional Cancer Center and Erlanger Hospital in the US, Hôtel-Dieu de Lévis in Canada, Lausanne University Hospital (CHUV) in Switzerland, Centre Francois Baclesse in Luxemburg, Charing Cross Hospital and Hammersmith Hospital in the UK, and Maria Sklodowska-Curie Memorial Cancer Center in Poland. In addition, RayStation was also selected for a new carbon ion center at the Yamagata University Hospital in Japan and for the Apollo Proton Cancer Center in Chennai, which is the first proton therapy center in India. 
  • RayStation 7* was released with support for Mevion HYPERSCAN and integration with RayCare. RaySearch also launched µ-RayStation, a new version of the treatment planning system, which is specially adapted for pre-clinical research on small animals. 
  • RayCare 1, the next-generation oncology information system (OIS), was released as planned and the company has secured the first order for RayCare from Anderson Regional Cancer Center in the US.


The information contained in the interim report is such that RaySearch Laboratories AB (publ) is obliged to disclose under the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication on February 15, 2018 at 7:45 a.m. CET.

Johan Löf, President and CEO    Tel: +46 8 510 530 00     E-mail:
Peter Thysell, CFO    Tel: +46 70 661 05 59     E-mail:

RaySearch Laboratories AB (publ) is a medical technology company that develops advanced software solutions for improved radiation therapy of cancer. The company 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 was launched in December 2017 and comprises a new product area for RaySearch. 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

* Regulatory approval is required in some markets.