"Photocure delivered a strong fourth quarter, finishing the year at the top end of guidance on revenue. Operating leverage was proven with commercial EBITDA margins expanding from 7% to 11% for the full year. We executed with discipline across our core business while accelerating strategic initiatives that reinforce Photocure's position as a foundational diagnostics platform in bladder cancer," says Dan Schneider, President & Chief Executive Officer of Photocure.
The company continued to execute on its plan to expand blue light cystoscopy (BLC®) use in Q4 2025 with the installation of 7 new Saphira towers in the U.S., 1 new account and 6 blue light tower upgrades. Photocure had 384 active accounts in the U.S. at the end of the quarter, an increase of 22% versus the second quarter of 2024. Across Europe, a total of 60 Olympus Visera Elite III blue light cystoscopy (BLC) capable systems were installed since the launch in Q1 2025.
Total revenues ended at NOK 136.7 million in the fourth quarter of 2025, down from NOK 141.7 million in Q4 2024 which included a milestone payment, with a group EBITDA of NOK 1.9 million (NOK 8.5 million). The EBIT ended at NOK -5.5 million (NOK 1.2 million). Cash and cash equivalents were NOK 238.9 million at the end of the period.
"We made important ...
