Interim report
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RaySearch : Laboratories INTERIM REPORT JANUARY 1 - JUNE 30 , 2021 " In the second quarter of 2021 , net sales declined 6 percent due to lower license sales . Recurring support revenue rose 9 percent and accounted for 44 percent [ 38 ] of net sales . Operating loss amounted to SEK -22 M [ -11 ) . " SECOND QUARTER ( APRIL - JUNE 2021 ) Order intake SEK 189.8 M ( 177.1 ) Net sales SEK 154.6 M ( 163.8 ) Operating loss SEK -22.5 M ( -10.9 ) . Loss after tax SEK -16.5 M ( -9.2 ) ● ● ● ● Loss per share before / after dilution SEK -0.48 ( -0.27 ) Cash flow SEK - 74.4 M ( 65.9 ) Order backlog SEK 1,213.4 M ( 1,185.8 ) at the end of the period ● SIGNIFICANT EVENTS DURING THE SECOND QUARTER ● The RayStation® treatment planning system was sold to several leading cancer centers , including the Atrium Health Carolinas Medical Center and the Radiation Center of Greater Nashua in the US , the Institute de Cancerologie Jean Godinot in France , the German Oncology Center in Cyprus , and the Higashi Omi City Gamo Medical Center in Japan . The Centre hospitalier universitaire vaudois ( CHUV ) has purchased the RayCare® oncology information system and the RayIntelligence® data analytics system , and also expanded its RayStation installation with functionality for automatic planning and segmentation with machine learning as well as planning for Accuray's CyberKnife® system . In March 2021 , RaySearch breached an EBITDA - based covenant in the company's credit facility with Skandinaviska Enskilda Banken ( SEB ) with a credit limit of SEK 350 M. As a consequence , the amount of credit withdrawn of SEK 50 M was repaid in April . Now the company meets the covenants and the credit facility is thus available for utilization . • RaySearch has signed a sales agent agreement with Canon Medical Systems USA , Inc. , enabling RaySearch America's salesforce to promote Canon Medical's Aquilion Large Bore CT and Celesteion PET / CT products . RayStation 11A was released in May , the latest version of RaySearch's treatment planning system , with support for Accuray's CyberKnife system , prescription of specific dose levels to multiple tumors , the use of multiple GPUs in Monte Carlo simulation for photons , and improved integration with RayCare and RayCommand . FINANCIAL SUMMARY¹ RayCare 5A was released in May , the latest version of RaySearch's oncology information system , with support for Accuray's CyberKnife® system , radiation therapy prescriptions , a new whiteboard that provides an overview of patient treatments , configurable forms , and a number of enhancements to task management , scheduling and automation . In June , RayStation 9 was granted regulatory clearance in China - a significant growth market for RaySearch . AMOUNTS IN SEK 000s THE COVID - 19 PANDEMIC The COVID - 19 pandemic with temporary reprioritizations in healthcare continued to have a negative impact on sales in the second quarter . RaySearch expects that the negative effects of the COVID - 19 pandemic on the company's sales and earnings will continue for some months to come , mainly because orders may be delayed . NO SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD Net sales Operating profit / loss Operating margin , % Profit / loss for the period Earnings / loss per share before / after dilution , SEK Cash flow from operating activities Cash flow for the period Return on equity , % Equity / assets ratio , % at the end of the period Share price at the end of the period , SEK ¹ For definitions of key ratios , see page 19 . APR - JUN HALF - YEAR ( JANUARY - JUNE 2021 ] ) Order intake SEK 334.9 M ( 477.2 ) Net sales SEK 316.7 M ( 372.6 ) Operating loss SEK -10.2 M ( 40.6 ) Loss after tax SEK -9.4 M ( 31.3 ) Loss per share before / after dilution SEK -0.27 ( 0.91 ) Cash flow SEK -41.6 M ( 61.7 ) 2021 154,579 -22,463 -14.5 -16,467 -0.48 58,077 -74,379 -2.4 57.8 87.4 2020 163,758 -10,954 -6.7 -9,196 -0.27 Johan Löf , CEO of RaySearch . 135,443 65,912 -1.3 56.2 86.5 ADVANCING CANCER TREATMENT JAN - JUN 2021 316,681 -10,202 -3.2 -9,357 -0.27 162,409 -41,542 -1.4 57.8 87.4 2020 372,647 40,603 10.9 31,266 0.91 201,517 61,668 4.3 56.2 86.5 JUL 2020 JUN 2021 595,646 -55,017 -9.2 -49,703 -1.45 294,976 -41,328 -7.2 57.8 87.4 FULL - YEAR 2020 651,612 -3,466 -0.5 -9,080 -0.26 331,508 61,890 -1.3 54.0 82.7