“For full-year 2020, net sales declined 12 percent, mainly the result of lower license sales due to the COVID-19 pandemic. Operating loss totaled SEK -3 M (68) and cash flow was SEK 62 M (-3). Despite challenging market conditions, 2020 was a productive year as we significantly strengthened our product portfolio”, says Johan Löf, CEO of RaySearch.
FOURTH QUARTER (OCTOBER–DECEMBER 2020)
- Order intake SEK 239.1 M (277.2)
- Net sales SEK 159.8 M (234.5)
- Operating loss SEK -14.6 M (22.5)
- Loss after tax SEK -14.2 M (18.9)
- Loss per share before/after dilution SEK -0.41 (0.55)
- Cash flow SEK -21.5 M (7.8)
- Order backlog SEK 1,161.3 M (1,155.2) at the end of the period
TWELVE MONTHS (JANUARY–DECEMBER 2020)
- Order intake SEK 854.8 M (1,046.2)
- Net sales SEK 651.6 M (741.6)
- Operating loss SEK -3.5 M (68.2)
- Loss after tax SEK -9.1 M (50.4)
- Loss per share before/after dilution SEK -0.26 (1.47)
- Cash flow SEK 61.9 M (-3.4)
- The Board proposes that no dividend be paid for 2020
SIGNIFICANT EVENTS DURING THE FOURTH QUARTER
- The RayStation® treatment planning system was sold to more leading cancer centers, including Centre Eugène Marquis in France, Taipei Medical University Hospital in Taiwan, Dankook University Hospital in South Korea, the Clatterbridge Cancer Centre in the UK, and Riverside Regional Medical Center in the US. In addition, Johns Hopkins Medicine in the US and Centre Antoine Lacassagne increased their existing RayStation installations.
- In December, new versions of RaySearch’s software were released – the RayStation 10B* treatment planning system, which now supports brachytherapy and offers a speed revolution in Monte Carlo dose calculation for proton therapy, and the RayCare 4B®* oncology information system, which can now connect to Varian TrueBeamTM, offers improved integration with RayStation and supports multiple parallel treatments and workflows.
- In December, the first version of the RayIntelligence* oncology analytics system was released, as well as the RayCommand* treatment control system, which obtained marketing authorization in several European countries.
UPDATE REGARDING COVID-19
- The general market situation is continuously improving with continued recovery in Asia and signs of demand recovery in other regions. At the same time, a second or third wave of the pandemic is being registered in many countries and it is unclear how long it will take before the vaccination program has an effect. RaySearch therefore expects that the negative effects of the COVID-19 pandemic on the company’s sales and earnings will continue for some months to come, mainly because orders may be delayed, but that these effects will normalize in 2021.
- Management is monitoring the situation closely and is prepared to take action if needed.
NO SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD
TELECONFERENCE IN CONJUNCTION WITH THE INTERIM REPORT
CEO Johan Löf and CFO Peter Thysell will present RaySearch’s year-end report for January-December 2020 at a teleconference to be held in English on Tuesday, February 23, 2021 between 4:00-4:30 p.m. CET.
For login details to the teleconference, please register on:
FOR FURTHER INFORMATION, PLEASE CONTACT:
* Marketing clearance is required in some markets.
RaySearch Laboratories AB (publ) is a medical technology company that develops innovative software solutions for improved cancer treatment. The company markets worldwide its treatment planning system RayStation and next-generation oncology information system RayCare. In December 2020, the company also launched a new treatment control system, RayCommand, as well as the data anlytics system, RayIntelligence. RaySearch’s software is currently used by more than 2,600 cancer centers 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 for trading on Nasdaq Stockholm since 2003.
More information about RaySearch is available at www.raysearchlabs.com