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Presentation of Interim Report Q3 ©2025 Surgical Science. | All rights reserved.
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©2025 Surgical Science. | All rights reserved. CEO comments – Q3 2025 Q3 was a clear step in the right direction for Surgical Science. ▫ All-time high net sales of SEKm 264. Group revenue grew by 14%. 19% growth adjusted for FX. Educational Products stabilized with 8% growth ▫ High customer demand within ultrasound simulation in all markets, except for the UK. ▫ Two prominent associations launched training programs that include certification based on simulators from Surgical Science. Industry/OEM performed well with sales increasing by 20% ▫ Development revenues increased by 131%. Secured the potentially largest deal in company history, within our Medical Device Simulation area, with one of the world’s largest medical device companies. ▫ Newly launched RobotiX Express very well received by the market. ▫ License revenue increased slightly to SEKm 66. Adjusted EBIT at 13%. Negatively affected by lower gross margin, inclusion of acquisition Intelligent Ultrasound and currency. Strategic review in final stages. Strategy and financial goals to be presented at Capital Markets Day on December 8. 1 700 750 800 850 900 950 1 000 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Q2 Q3 SEKm Revenue rolling 12 months Surgical Science revenue – Rolling 12 months
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©2025 Surgical Science. | All rights reserved. Q3: Progress in the right direction Q3: Net sales up 14% to SEKm 263.6 (231.8). In local currencies up 19%. SEKm 18.8 from IU. Educational Products up 8% (-6% excl IU). Regions: Europe (+46%), Asia (-5%), Americas (+9%). Industry/OEM up 20%. License revenues up 1%, SEKm 65.5 (65.0). Sim sales SEKm 33.5 (26.1). Dev rev’s SEKm 21.9 (9.5). YTD: Net sales up 14% to SEKm 723.5 (632.5). In local currencies up 20%. SEKm 59.2 from IU. Educational Products sales up 17% to SEKm 372.0 (317.5). Industry/OEM sales up 12% to SEKm 351.5 (315.1). SEKm 2
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©2025 Surgical Science. | All rights reserved. REVENUE STREAMS License rev’s: 25 (28) percent of total revenues. Lumpy for new entrants, revenues from several customers. Intuitive sales affected by lower subscription renewals on older generations. Simulator sales up 14%. Continued strong development rev’s. Consists of both robotics’ projects and sales of simulators w/in Indu. For the Q revenues from project in Southeast Asia. Stable service revenues. SEKm 3
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©2025 Surgical Science. | All rights reserved. COSTS AND EBIT MARGIN Q3 2025 Gross margin 65% (69). Lower license revenues, currency effects, lower direct sales within Edu and inclusion of IU had a negative effect. Sales: 21% (18) of sales. SEKm 2 in tariffs on simulators from non-US production units. SEKm 1.5 in restructuring costs. Admin: 8% (8) of sales. R&D: 21% (22) of sales. Activated costs SEKm 7.3 (8.7). Other: Option programs, FX-effects. EBIT excluding restructuring costs SEKm 28.7 (45.8), 11% (20). EBIT for IU SEKm -11.1 (GBPm -0.8). 4 Sales costs 21% (18) Cost of goods sold 35% (31) Research and development costs 21% (22) Operating income and costs 4% (1) Administration costs 8% (8) Operating margin 11% (20) Costs/margin as a percentage of sales, excluding restructuring costs
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©2025 Surgical Science. | All rights reserved. ORGANIZATION No of employees at end of period: 328 (270) Market presence >90 countries Offices / Development sites Women 90 (74) Men 238 (196) * Other: Primarily Germany and China. Sweden 70 (61) Israel 152 (139) UK 33 (1) Other 19 (16) * USA 54 (54) 5
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©2025 Surgical Science. | All rights reserved. ADJUSTED EBIT* Q3: Adjusted EBIT SEKm 32.8. Adjusted for restructuring costs SEKm 34.3 (51.8), margin 13% (22). YTD: Adjusted EBIT SEKm 46.1. Adjusted for acquisition and restructuring costs SEKm 74.0 (123.4), margin 10% (20). 6 *Excluding acquisition and restructuring costs related to IU in Q1 and Q3 2025
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©2025 Surgical Science. | All rights reserved. FINANCE NET AND TAXES Finance net for the quarter was SEKm 3.0 (8.4). Interest on bank balances, revaluation of internal loans and IFRS 16 effect. Tax expense for the quarter was SEKm -9.7 (-10.0). Net result for the quarter was SEKm 20.4 (43.0). 7
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©2025 Surgical Science. | All rights reserved. CASH FLOW Cash flow from operating activities SEKm -4.4 (22.1). Change in working capital SEKm -44.6 (-32.5). Inventory decreased while A/R increased. Cash flow from investing activities SEKm -10.9 (-12.5) mainly investments in development costs. Cash flow from financing activities SEKm 4.0 (-3.2). Cash at end of period SEKm 597.4 (666.3). A/R as % of sales LTM at good level. 8
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©2025 Surgical Science. | All rights reserved. Thank you Find out more at: www.surgicalscience.com Tom Englund, CEO tom.englund@surgicalscience.com Anna Ahlberg, CFO anna.ahlberg@surgicalscience.com