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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Photocure
Photocure (PHO) investor relations material
Photocure Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary28 Oct, 2026
Executive summary
Hexvix/Cysview Q3 product revenue was NOK 134.2m, up 7% at constant currency and flat reported; growth came from North America and Europe.
U.S. active BLC accounts rose 20% YoY to 454 as mobile BLC, equipment access and tower upgrades advanced.
Vesica Health added AssureMDx, extending the diagnostic portfolio; FDA proposed reclassifying applicable cystoscopic systems from Class III to Class II, pending final determination.
Financial highlights
Q3 total revenue was NOK 140.9m, up 4% reported and 12% at constant currency; YTD revenue was NOK 548.0m, up 38% reported and 51% at constant currency.
Q3 gross profit was NOK 131.0m; operating expenses were NOK 127.0m.
Reported EBITDA was NOK 4.0m versus NOK 10.2m; adjusted EBITDA was NOK 18.5m versus NOK 18.9m.
Q3 net loss was NOK 26.2m versus net income of NOK 4.0m; net financial items were NOK -24.8m, mainly reflecting unrealized FX losses and acquisition-related interest.
Outlook and guidance
FY 2026 product revenue growth guidance rose to 10%–12% at constant currency from 8%–11%, with adjusted EBITDA margin expansion expected.
Consolidated revenue is projected to exceed 25% CAGR from 2026 to 2030, with adjusted EBITDA margin above 25% by 2030; AssureMDx targets margins above 30% after modest near-term operating losses.
Initial AssureMDx revenue is expected in 2027, with reimbursement targeted in H1 2027.
Richard Wolf is developing a next-generation flexible BLC system for global markets; launch readiness is targeted by end-2027.
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Latest events from Photocure
- Q2 2026 delivered 11% ex-FX product growth, expanded diagnostics, and raised long-term targets.PHO
Q2 2026 - Acquisition expands diagnostic capabilities, accelerates growth, and de-risks with milestone payments.PHOM&A announcement
- Q1 2026 delivered double-digit revenue growth, margin expansion, and major regulatory milestones.PHOQ1 2026
- Q4 revenue up 9% YoY, EBITDA margin at 11%, 2026 guidance for 7–11% growth.PHOQ4 2025
- Precision diagnostics and global partnerships position the company for strong bladder cancer market growth.PHOCorporate Presentation
- 12% revenue and EBITDA growth in Q3 2025, with strong expansion in key markets and innovation.PHOQ3 2025
- Q2 2024 saw 6% revenue growth, higher EBITDA, and raised Saphira tower guidance.PHOQ2 2024
- 12% revenue growth and positive EBITDA, with strong U.S. and European momentum.PHOQ3 2024
- 7% revenue growth, strong European gains, and expanding U.S. mobile solutions in Q1 2025.PHOQ1 2025
Next Photocure earnings date
Q4 202618 Feb, 2027
Photocure
Next Photocure earnings date
Q4 202618 Feb, 2027
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Frequently asked questions
Photocure ASA is a specialty pharmaceutical company engaged in the research, development, production, distribution, marketing and sale of pharmaceutical products. The Company's product portfolio consists of solid and semi-solid dosage forms including tablets, capsules, ointments and creams based on its patented drug delivery technologies. The Company has developed and commercialized proprietary formulations for medicines that are targeted primarily at cardiovascular indications.