Surgical Science Sweden AB
STO:SUS
Surgical Science Sweden AB
Surgical Science Sweden AB engages in the development of simulators for laparoscopic medical training. The company is headquartered in Goeteborg, Vastra Gotalands. The company went IPO on 2017-06-19. The systems comprise LapSim, EndoSim and TeamSim trainings. Each training combine graphics and cognitive instruction, imply navigation on touch screens and feature tactile feedback technology. The LapSim trainings consist of laparoscopic exercises that range from basic navigation to advanced suturing, the EndoSim endoscopic exercises range from functions of the scope handle and tube, to loop reduction. The TeamSim comprises procedure modules to train in a real world operation room environment and helps to build team communication skills in crisis and routine situations. The training systems are used by medical training centers and institutes worldwide for practice, validation and certification of students, surgeons, and medical doctors.
Surgical Science Sweden AB engages in the development of simulators for laparoscopic medical training. The company is headquartered in Goeteborg, Vastra Gotalands. The company went IPO on 2017-06-19. The systems comprise LapSim, EndoSim and TeamSim trainings. Each training combine graphics and cognitive instruction, imply navigation on touch screens and feature tactile feedback technology. The LapSim trainings consist of laparoscopic exercises that range from basic navigation to advanced suturing, the EndoSim endoscopic exercises range from functions of the scope handle and tube, to loop reduction. The TeamSim comprises procedure modules to train in a real world operation room environment and helps to build team communication skills in crisis and routine situations. The training systems are used by medical training centers and institutes worldwide for practice, validation and certification of students, surgeons, and medical doctors.
Record Sales: Surgical Science reported all-time high Q3 sales of SEK 264 million, up 14% year-on-year, and 19% in local currency, despite a 5% negative currency impact.
Profitability Focus: Adjusted EBIT reached SEK 33 million but was negatively impacted by SEK 2 million in restructuring costs; gross margin declined to 65% from 69% last year.
Segment Trends: Educational products stabilized, growing 8% overall (26% sequentially), with Europe especially strong at 46%; the U.S. and U.K. remained challenging due to budget constraints.
Industry OEM Strength: OEM sales grew 20%, with a major multi-year deal signed, described as potentially the company’s largest ever.
License Revenues: License income was SEK 66 million, a slight increase despite currency headwinds, but license share of total revenue declined to 25% from 28%.
Cost Reduction & Integration: SEK 6 million of cost savings from Intelligent Ultrasound were realized, but this unit remained loss-making, with SEK 11 million operating loss in the quarter.
Outlook: Management expects further improvements in profitability, increased license revenues from new robotic customers in Q4, and continued portfolio expansion, with a new strategy presentation set for December.
