ContextVision (CONTX) Q4 2025 earnings summary

Executive summary

• Transformation towards quantitative and data-driven imaging advanced, combining image and data quality, with a major milestone reached as the first patient was enrolled in a clinical program for liver disease diagnostics.

• New clinically focused product line launched at RSNA 2025, supporting strategic transformation and expanding the portfolio.

• Early market stabilization observed in Q4, with positive signs for future business.

• Sales and marketing restructured to support a more technically oriented approach, incurring a one-off cost of SEK 2.2 million.

Financial highlights

• Q4 revenue was SEK 31.7 million, down 7.3% year-over-year, mainly due to FX effects; full year 2025 revenue reached SEK 110.3 million, down 15.6%.

• Q4 adjusted EBITDA was SEK 7.9 million (margin 24.9%), down from SEK 11.4 million (margin 33.4%) last year; Q4 EBITDA was SEK 5.2 million (margin 16.5%).

• Full year EBITDA was SEK 7.2 million (6.5% margin); adjusted EBITDA was SEK 19.1 million (17.3% margin).

• Q4 adjusted EPS was SEK 0.08, compared to SEK 0.11 last year; Q4 EPS was SEK 0.05.

• Cash flow from operations was SEK 4.6 million in Q4; year-end cash position was SEK 69.8 million.

Outlook and guidance

• Signs of market stabilization in Q4 are expected to positively impact business in 2026, though uncertainty remains.

• Continued investment in both image and data quality, with a strong balance sheet supporting long-term plans and sustainable growth.