SIGNIFICANT EVENTS DURING THE FIRST QUARTER 2025 (JAN – MAR)

• Mentice announced a significant order from a top 20 global Med Tech company for 6.5 MSEK.
• Frans Venker joined Mentice as new CEO on Jan 1, 2025.

FIRST QUARTER 2025 (JAN – MAR)

• Net sales amounted to 54.3 (45.3) MSEK, an increase of 19.5%, whereof 17.3% organic and 2.2% currency effect.
• Order intake amounted to 43.7 (37.9) MSEK, an increase of 15.1%.
• Earnings before interest, tax, depreciation, and amortization (EBITDA) amounted to -19.2 (-18.4) MSEK.
• Net income for the period amounted to -27.5 (-24.6) MSEK.
• Earnings per share (EPS) were till -1.08 (-0.96) SEK.
• Cash flow from operating activities amounted to -3.3 (1.9) MSEK.

CEO Frans Venker comments:
Overall, Q1 results indicate that we started with encouraging progress. Our efforts to strengthen our offerings and accelerate sales are ongoing, with a particular focus on deepening momentum in the Americas and addressing challenges in the EMEA region.

In Q1, we began reshaping our organization with the purpose of reaching our mid- to long-term strategic goals. We will place significant emphasis on product development and improvement within Healthcare Systems (HCS) and will continue to release products and updates to strengthen our offering. This week we launched Ankyras® in Brazil and we are awaiting the FDA's decision for the launch of Ankyras® in the USA. Simulations within neurovascular surgery, covering training, equipment, and decision-making, are a key growth area. 

Servicing the Medical Device Industry (MDI) also remains a priority. I believe there is significant untapped potential within Mentice regarding efficiency and integration of our portfolios that we have yet to explore, as well as opportunities for new partnerships in adjacent areas such as robotics. Continuously improving realism, portability, and adding more clinical cases will strengthen our relationships with stakeholders in the MDI industry and bring us closer to new end-users.

As of the publication of this report, Mentice has decided to integrate the Strategic Alliances (SA) business area into the Medical Device Industry (MDI) business area. The SA model has transitioned into the MDI offering, which focuses on innovative solutions and long-term strategic relationships. The result is two strong business areas with clear distinctions: Healthcare Systems (HCS) and Medical Device Industry (MDI), both of which have compelling offerings based on a sustainable model that benefits both parties.

We will also adjust our reporting accordingly to provide investors with a better understanding of our performance and the development of the company. The two business areas, HCS and MDI, will encompass all Mentice operations and serve as the foundation for strategic initiatives and product development moving forward.
 

Webcast presentation of the interim report
The Interim Report for the period of January - March 2025 will be presented by CEO Frans Venker and CFO Ulrika Drotz on May 8, 2025, at 10:00 CEST. The live broadcast is followed by a Q&A moderated by Carnegie’s analyst Rikard Engberg.

The presentation will be held in English. Participants are advised to register at least a few minutes in advance.

For more information on how to register, please visit https://investor.mentice.com/.