RaySearch Laboratories AB (0GRZ) Price & Analysis
0GRZ Stock Chart & Stats
- Day’s Range
- SEK 202.20 - SEK 203.50
- 52-Week Range
- SEK 161.00 - SEK 262.00
- Previous Close
- SEK 202.60
- Volume
- 13.70K
- Average Volume (3M)
- 36.05K
- Market Cap
- SEK 6.95B
- Enterprise Value
- SEK 7.68B
- Total Cash (Recent Filing)
- SEK 213.10M
- Total Debt (Recent Filing)
- SEK 359.20M
- Price to Earnings (P/E)
- 32.7
- Beta
- 0.74
- Next Earnings
- Nov 03, 2026
- EPS Estimate
- 2.4
- Next Dividend Ex-Date
- N/A
- Dividend Yield
- 1.56%
Bulls Say, Bears Say
Bulls Say
Recurring Revenue Stability
A substantial recurring support base gives RaySearch greater revenue visibility than license sales alone. It can cushion project timing and procurement volatility, while ongoing updates and support deepen customer relationships and create durable monetization from the installed software base.
Backlog And Order Intake
Strong order intake and a sizeable backlog provide tangible demand coverage for future revenue. The portion expected to convert within twelve months supports near-term planning visibility, while book-to-bill above one indicates demand is replenishing delivered orders.
High Margins And Cash Generation
High gross and operating margins indicate an economically attractive software model with meaningful operating leverage. Robust free cash flow gives RaySearch capacity to fund product development, support global expansion, and maintain financial resilience without relying solely on external capital.
Bears Say
Recent Revenue And Profit Contraction
The weak quarter shows that RaySearch's earnings can be sensitive to the timing of license and project sales. A sustained slowdown would reduce operating leverage and make the reiterated 2026 margin target harder to achieve, especially after recent margin normalization.
U.S. Procurement Headwinds
U.S. delays affect a strategically important market and have already weakened license demand across multiple quarters. Slower procurement and reimbursement pressure can lengthen sales cycles, defer revenue recognition, and require stronger performance elsewhere to sustain growth.
Limited Subscription Adoption
A predominantly CapEx purchasing model leaves revenue more dependent on discrete license decisions and hospital investment cycles. Limited subscription adoption reduces recurring revenue expansion and makes quarterly sales and cash generation more exposed to project timing.
RaySearch Laboratories AB News
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Company Description
RaySearch Laboratories AB
RaySearch Laboratories AB (publ) is a global medical technology company dedicated to developing cutting-edge software solutions for cancer treatment. Its principal offering, RayStation, is a sophisticated treatment planning system that supports a vast range of clinical activities. These capabilities include automated planning, adaptive therapy, multi-criteria optimization, rapid and accurate dose calculations, OAR dose reduction, robustness modeling, machine learning integration, and support for advanced radiation modalities such as VMAT, IMRT, 3D-CRT, virtual simulation, electron beam therapy, tomotherapy, stereotactic treatments, proton therapy, carbon ion therapy, and boron neutron capture therapy. The company also offers RayPlan, another treatment planning system specifically designed for various radiation therapy methods including 3D-CRT, IMRT, VMAT, tomotherapy, and electron beam radiation therapy. For managing oncology workflows, RayCare serves as a dedicated information system. Additionally, RaySearch provides RayCommand, a flexible treatment control system compatible with diverse hardware and designed to manage advanced functionalities of treatment machines and software. To leverage patient data, its cloud-based oncology analytics system, RayIntelligence, converts raw information into valuable insights. RaySearch Laboratories AB (publ) further provides training courses for its products and is headquartered in Stockholm, Sweden.
- Sector
- Healthcare
- Industry
- Medical - Healthcare Information Services
- CEO
- Johan Lof
- Employees
- 464
- Website
- www.raysearchlabs.com
- Address
- Eugeniavägen 18C, Stockholm, AB, 113 68, SE
RaySearch Laboratories AB (0GRZ) Earnings & Revenues
0GRZ Company Deck
0GRZ Earnings Call
Earnings Call SentimentNeutral
The call reported a clearly disappointing Q2 with meaningful declines in license and hardware sales (license -18%, hardware -38%, net sales -11%) and a compressed EBIT margin (10%). However, several positive indicators offset the weakness: order intake grew 23%, backlog remains robust at SEK 1.691 billion (SEK 670 million expected to convert within 12 months), LTM organic growth was 9% with a 22% LTM EBIT margin, notable strategic wins (Dana-Farber and other U.S. orders recovered in early Q3), clinical milestones (online adaptive treatments on TrueBeam), product releases and strengthened proton expertise, improved cash flow (Q2 free cash flow SEK 50 million) and active share repurchases. Management believes a strong H2 can restore the year’s financial trajectory but execution risk remains. Overall, the positive backlog, early Q3 order recoveries and recurring revenue stability balance the quarter’s operational weaknesses and timing risks.
View all GB:0GRZ earnings summariesTechnical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 15 | 2 | 5 |
| Technical Analysis | 3 | 2 | 5 |
| Moving Averages | 12 | 0 | 0 |