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Photocure lifts core margins and expands BLC platform as it guides for 2026 growth

Story Highlights
  • Photocure grew core Hexvix/Cysview revenues and margins, expanded blue light cystoscopy installations, yet total revenue fell without last year’s milestone payment.
  • The company guides for 7–11% product revenue growth in 2026 and is evolving into an AI- and biomarker-enabled diagnostics platform to drive scalable, higher-margin expansion.
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Photocure lifts core margins and expands BLC platform as it guides for 2026 growth

Meet Samuel – Your Personal Investing Prophet

Photocure ASA ( (PHCUF) ) just unveiled an announcement.

Photocure reported Hexvix/Cysview revenues of NOK 135.1 million in the fourth quarter of 2025, with commercial EBITDA more than doubling year-on-year and margins improving, underlining operating leverage in its core bladder cancer diagnostics franchise. While total revenue declined due to the absence of a prior-year milestone payment and group EBIT remained negative, the company strengthened its U.S. and European blue light cystoscopy footprint and ended the period with a solid cash position.

Management outlined 2026 product revenue growth guidance of 7% to 11% on a constant currency basis and highlighted multiple structural growth drivers, including increased rigid kit adoption, mobile BLC expansion, and equipment upgrades that boost utilization. Strategic moves into AI-enabled diagnostics, biomarkers, and digital pathology via partnerships such as Claritas are positioned to evolve Photocure into an integrated molecular-digital platform, potentially enhancing scalability, margins, and long-term value for shareholders as reimbursement and regulatory catalysts materialize.

More about Photocure ASA

Photocure ASA, listed on the Oslo Stock Exchange, is a Norwegian medtech and diagnostics company focused on bladder cancer. Its core products, Hexvix/Cysview for blue light cystoscopy, use a technology that makes cancer cells glow to improve detection and treatment outcomes, with a growing installed base in the U.S. and Europe.

Average Trading Volume: 50,550

Current Market Cap: NOK1.68B

Find detailed analytics on PHCUF stock on TipRanks’ Stock Analysis page.

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