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Mentice (MNTC) investor relations material

Mentice Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary6 Nov, 2025

Executive summary

  • Net sales reached 71 million SEK in Q3 2025, up 22% year-over-year, with over 30% organic growth, driven by strong performance in the medical device industry segment, especially in Americas and EMEA.

  • EBITDA margin improved to 10.7% in Q3, reflecting benefits from strategic cost reductions and organizational changes.

  • Net income for Q3 was nearly breakeven at -0.3 MSEK, a significant improvement from -13.1 MSEK a year ago.

  • A successful rights issue raised 32 million SEK, strengthening the cash position and supporting commercial and product innovation.

  • Launched a portable virtual simulation system, well received at a major industry event, opening new market opportunities.

Financial highlights

  • Q3 net sales: 71 million SEK, up 22.3% year-over-year; organic growth 30.2%, currency effect -7.9%.

  • Q3 EBITDA: 7.7 MSEK (vs. -6.2 MSEK in Q3 2024); EBITDA margin 10.7%.

  • Q3 net income: -0.3 MSEK (vs. -13.1 MSEK); EPS: -0.01 SEK (vs. -0.51 SEK).

  • Order intake slightly down 2% year-over-year to 57.6 million SEK, mainly due to timing of large orders shifting to Q4.

  • Operational cash flow was negative by almost 11 million SEK, mainly due to working capital changes from increased revenue.

Outlook and guidance

  • Optimistic outlook for Q4, with strong customer activity and project volumes expected to continue, especially in the medical device industry.

  • Full effects of strategic initiatives, including workforce realignment and facility consolidation, expected in H1 2026.

  • Continued investments in product development and commercial expansion planned, supported by proceeds from the rights issue.

  • Management remains confident in navigating macroeconomic uncertainty and expects sustained demand for simulation solutions.

  • Long-term focus on innovation, scaling solutions, and adapting offerings for the healthcare segment, with significant impact anticipated in 2026.

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Frequently asked questions

Mentice AB provides endovascular simulation solutions to teaching entities, healthcare systems, and medical device manufacturers. It offers VIST (virtual intraluminal simulation and training), a platform that simulates endovascular treatments within the body's arteries; and accessories, including hardware equipment and catheters. The company also provides learning management software that gives central control of usage tracking, planning, and reporting for VIST. The company was incorporated in 1998 and is headquartered in Gothenburg, Sweden.

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