Q4 highlights

• Attended the RSNA Conference in Chicago and launched two products.
• Ongoing discussions about collaborations with key customers, including tier 1 OEMs.
• Strong interest in the industry regarding quantitative imaging - reinforcing our strategy.
• Continued progress within Data Quality - now conducting tests, measurements and experiments.
• Share buy-back of approximately 1.2 million shares at a price of 6.50 NOK per share.

Q4 Financial Data

• Revenue of 34.1 MSEK (33.2), up 2.8%.
• EBITDA amounted to 9.1 MSEK (5.2) with an EBITDA margin of 26.8% (15.7).
• Adjusted EBITDA amounted to 11.4 MSEK (6.4) with an adjusted EBITDA margin of 33.4% (19.2).*
• Cash flow from operating activities was 9.1 MSEK (5.9).
• Earnings per share was 0.08 SEK (0.04).
• Adjusted earnings per share was 0.11 SEK (0.06).*

Full Year Financial Data

• Revenue of 130.7 MSEK (132.2).
• EBITDA amounted to 38.7 MSEK (48.9) with an EBITDA margin of 29.6% (37.0).
• Adjusted EBITDA amounted to 45.8 MSEK (50.0) with an adjusted EBITDA margin of 35.1% (37.9).*
• Cash flow from operating activities was 32.9 MSEK (44.7).
• Earnings per share was 0.32 SEK (0.42).
• Adjusted earnings per share was 0.41 SEK (0.44).*

* ContextVision do adjustments for investments in point-of-care ultrasound to make it easier to analyse the underlying business as these investments do not yet
bring revenues. The investments amounted to 1.2 MSEK in Q1, 1.6 MSEK in Q2 , 2,1 MSEK in Q3 and 2,3 MSEK in Q4 2024.

Progress in Data Quality and growing interest

During the last quarter of 2024, we made continued progress in our Data Quality venture, with increasing industry interest confirming its transformative potential. At the same time, we are advancing discussions with key customers on strategic partnerships within Image Quality. These efforts set the stage for continued success in both our Image Quality and Data Quality businesses as we move into the coming year.

In the fourth quarter of the year, revenue increased compared to the same period last year, reaching 34.1 MSEK (33.2) - a growth of 2.8%, or 0.9 MSEK. The increase was largely driven by a sales push from a customer in Asia towards the end of the quarter.

Adjusted EBITDA for the quarter came in at 11.4 MSEK (6.4) with an adjusted EBITDA-margin of 33.4% (19.2) when adjusted for investments in Point-of-Care Ultrasound (POCUS) totaling 2.3 MSEK (6.7% of revenue). The increase in profitability is primarily attributed to a positive FX impact of 2.8 MSEK compared to the same quarter last year as well as an update in capitalization policy that affected Q4 2023. Looking ahead, we anticipate our cost base to remain higher than in previous years, though lower than this quarter, as administrative costs related to the share buy-back program and setting up an incentive plan framework are non-recurring. As we also relocated our headquarters this quarter, there were some non-recurring costs related to the office move, but the relocation will however lower our costs going forward.

For the full year we reached revenue of 130.7 MSEK (132.2), slightly below previous year, with an adjusted EBITDA of 45.8 MSEK (50,0). In December we executed a share buy-back offer totaling 1,2 million shares at a price of 6.5 NOK per share underlining our good cash position. We are hopeful 2025 will generate growth as we are cautiously optimistic about better market conditions.

A key highlight of Q4 was our participation at RSNA in Chicago, where we launched updates for Rivent Mobile and Smart Noise Reduction for Altumira. The conference clearly demonstrated the industry's growing emphasis on quantitative imaging and AI-driven solutions, validating our strategic investments in these areas. Customer engagements at RSNA reached new highs, reflecting strong market interest in our innovations - not only in in our venture into Data Quality, but also in faster image processing.

Throughout the quarter, we have engaged in advanced discussions with key customers, including tier 1 OEMs, on strategic partnerships and collaborations. We anticipate these partnerships will translate into future revenues. In addition, we are working closely with customers to expand our professional service offering, positioning ourselves as a more integral part of their entire image processing chain. This initiative is expected to strengthen customer relationships and increase our share of wallet.

Regarding our venture into Data Quality, also referred to as POCUS, we are making steady progress. We are currently conducting tests, measurements and experiments, further validating our approach. After the quarter, we reached a significant milestone, signing a partnership with the University of Washington to enter clinical research aiming to develop AI-based solutions that can interpret organ-specific data. The project goal is to develop digital biomarkers that assist in early disease detection and monitoring of Metabolic Dysfunction-Associated Steatotic Liver Disease (MALSLD). This partnership represents the next step in our commitment to leveraging technology for clinical advancements and shaping a new product line within Data Quality, with the potential for future expansion to additional diseases and organs. It positions to deliver diagnostic quality beyond visualization and quantification for medical imaging making imaging less user dependent, reinforcing our leadership in this evolving field.

Overall, 2024 has been a year of strategic progress and execution, and I am confident in our trajectory. I want to extend my gratitude to our team, customers, partners and other stakeholders for their continued trust and collaboration.

Looking ahead, we remain committed to driving innovation and sustainable growth. I look forward to communicating more updates on our journey and seeing what we can achieve together in 2025.

Dr. Dr. Gerald Pötzsch
Chief Executive Officer

For more information, please contact

Richard Hallström
Chief Financial Officer
richard.hallstrom@contextvision.com

About ContextVision
ContextVision is a medical technology software company specialized in image analysis and artificial intelligence. As the global market leader within image enhancement, we are a trusted partner to leading manufacturers of ultrasound, X- ray and MRI equipment around the world. Our expertise is to develop powerful software products, based on proprietary technology and artificial intelligence for image-based applications. Our cutting-edge technology helps clinicians accurately interpret medical images, a crucial foundation for better diagnosis and treatment. The company, established in 1983, is based in Sweden with local representation in the U.S., Japan, China and Korea. ContextVision is listed on the Oslo Stock Exchange under the ticker CONTX.

This information is inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 a.m. CET on February 20, 2025.