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Surgical Science Sweden AB (SE:SUS)
:SUS
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Surgical Science Sweden AB
(SUS)
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Rating:65Neutral
Price Target:
kr32.00
▼(-62.13% Downside)
Surgical Science Sweden AB's overall stock score is driven by strong financial performance and strategic achievements highlighted in the earnings call. However, bearish technical indicators and valuation concerns weigh down the score. The mixed sentiment from the earnings call, with both significant achievements and challenges, also influences the overall assessment.
Positive Factors
Revenue Growth
Surgical Science Sweden AB's consistent revenue growth demonstrates its expanding market reach and product adoption, strengthening its competitive position.
Strategic Partnerships
These partnerships enhance the company's market position by integrating simulators into certification programs, promoting long-term adoption.
Industry OEM Performance
Strong OEM performance and development revenue growth highlight the company's robust product demand and potential for future expansion.
Negative Factors
Gross Margin Decline
A declining gross margin can affect profitability, indicating potential challenges in maintaining cost efficiency and pricing power.
Sales Challenges in the U.S.
Prolonged sales cycles in the U.S. could hinder revenue growth, reflecting potential market saturation or competitive pressures.
Intelligent Ultrasound Losses
Losses in the Intelligent Ultrasound segment suggest integration challenges and could strain overall profitability if not addressed.
Surgical Science Sweden AB (SUS) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr1.61B
Dividend YieldN/A
Average Volume (3M)1.61M
Price to Earnings (P/E)23.1
Beta (1Y)0.38
Revenue Growth13.40%
EPS Growth-63.89%
CountrySE
Employees274
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)0.40
Shares Outstanding51,026,237
10 Day Avg. Volume583,608
30 Day Avg. Volume1,614,194
Financial Highlights & Ratios
PEG Ratio-1.38
Price to Book (P/B)1.65
Price to Sales (P/S)9.00
P/FCF Ratio88.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr40.00Price Target Upside-52.66% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Surgical Science Sweden AB Business Overview & Revenue Model
Company DescriptionSurgical Science Sweden AB (SUS) is a leading provider of innovative simulation solutions for surgical training and education. The company operates within the healthcare technology sector, focusing on developing high-fidelity simulators and virtual reality training platforms that enhance the skills of medical professionals. SUS's core products include a range of surgical simulators that cover various specialties, providing realistic training experiences that help improve patient outcomes and reduce risks in surgical procedures.
How the Company Makes MoneySurgical Science Sweden AB generates revenue primarily through the sale of its surgical simulation products and training solutions to hospitals, medical universities, and training centers worldwide. The company employs a subscription-based model for its virtual reality platforms, allowing institutions to access ongoing updates and support. Additionally, SUS benefits from strategic partnerships with medical institutions and educational organizations that help promote their products, as well as collaborations with medical device manufacturers that enhance their offerings. The company's revenue is also bolstered by participation in training programs and workshops, providing hands-on experiences for healthcare professionals.
Surgical Science Sweden AB Earnings Call Summary
Earnings Call Date:Nov 13, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 19, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with strong growth and strategic achievements offset by significant challenges, particularly in currency impacts, U.S. sales, and the U.K. market. The highlights, including record-breaking revenue and strategic partnerships, were counterbalanced by lowlights such as gross margin decline and Intelligent Ultrasound losses.Q3-2025 Updates
Positive Updates
Record-Breaking Revenue
Total sales reached an all-time high of SEK 264 million, growing by 14% compared to the same quarter last year, and by 19% when adjusted for currency effects.
Strong Growth in Europe
The European market showed the strongest growth with a 46% increase, driven by strong sales in countries such as the Czech Republic, Poland, and Portugal.
Prominent Partnerships for Certification Programs
Launched training programs with ASGE and European Academy of Gynecology Surgery, marking a major step towards standardization of certification using simulators.
Industry OEM Performance
Industry OEM sales increased by 20%, with development revenue up by 131% compared to the same quarter in 2024. Secured potentially the largest single deal in the company's history within medical device simulation.
Intuitive's Growth
Reported 19% procedure growth for the da Vinci system in the third quarter, with the installed base growing by 13%.
Cost Savings from Intelligent Ultrasound Acquisition
Achieved cost savings of approximately GBP 2.5 million annually following the acquisition and integration of Intelligent Ultrasound.
Negative Updates
Currency Impact on Sales
Negative impact on sales from currency fluctuations, with currencies affecting sales by 5 percentage points.
Sales Challenges in the U.S.
Sales in the U.S. were lower than expected due to extended sales cycles in a tough budgetary climate for hospitals.
Weak Performance in the U.K.
Problems with sluggishness in NHS fund allocations led to weak sales in the U.K., particularly affecting Intelligent Ultrasound's performance.
Gross Margin Decline
Gross margin dropped to 65% from 69% last year, impacted by currency effects and a lower share of license revenue.
Intelligent Ultrasound Losses
The Intelligent Ultrasound segment reported a loss of SEK 11 million due to lower sales than expected, primarily in the U.K.
Decrease in Simulation Subscribers
Decline in simulation subscribers for older generation da Vinci systems in the U.S. as they are replaced by the new platform.
Company Guidance
In the Q3 2025 earnings call for Surgical Science, CEO Tom Englund highlighted a record total sales figure of SEK 264 million, marking a 14% increase from the previous year and a 19% rise when adjusted for currency effects. The adjusted EBIT was SEK 33 million, with a negative impact of SEK 2 million from restructuring costs, leading to a profitability rate of 13%. The educational products segment stabilized, showing an 8% growth compared to the same quarter in 2024, with Europe experiencing the strongest growth at 46%. Meanwhile, the Americas grew by 9%, but sales in the U.S. were disappointing due to extended sales cycles. Industry OEM sales increased by 20%, with development revenue surging by 131%. The gross margin was 65%, down from 69% last year, partly due to strong simulator sales and currency effects. The call also covered strategic collaborations with medical associations to integrate simulators into certification programs, and the positive reception of the RobotiX Express simulator, which is expected to significantly impact revenue starting Q1 2026. CFO Anna Ahlberg detailed financials, noting the SEK 66 million license revenue, a slight year-on-year increase, and a cash position of SEK 597 million at the period's end.Surgical Science Sweden AB Financial Statement Overview
Summary
Surgical Science Sweden AB demonstrates a strong financial profile with consistent revenue growth and robust profitability margins. The company maintains a healthy balance sheet with low leverage and strong cash reserves. However, there is a decline in net income and cash flow, which slightly impacts the overall financial performance.Income Statement
Surgical Science Sweden AB has shown consistent growth in total revenue over the years, with the latest annual revenue reaching SEK 884 million. The company maintains a strong gross profit margin, indicating efficient cost management. However, the decline in net income from SEK 234 million in 2023 to SEK 132 million in 2024 has impacted the net profit margin. The EBIT and EBITDA margins remain healthy, reflecting the company's operational efficiency.Balance Sheet
The balance sheet reveals a robust financial position, with a high equity ratio and low debt-to-equity ratio, indicating stable financial leverage. The shareholder's equity has significantly increased over the years, supporting the company's growth. The company has a strong cash position, with cash and short-term investments totaling SEK 968 million, enhancing its liquidity.Cash Flow
Cash flow analysis shows positive operating cash flow, although it has decreased from the previous year. The free cash flow remains positive, supporting the company's ability to invest in future growth. Despite a drop in free cash flow from SEK 194 million in 2023 to SEK 90 million in 2024, the operating cash flow to net income ratio remains satisfactory, reflecting efficient cash management.| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 975.04M | 884.09M | 882.85M | 802.54M | 366.78M | 104.80M |
| Gross Profit | 649.50M | 597.90M | 612.88M | 531.52M | 265.94M | 88.36M |
| EBITDA | 84.55M | 224.29M | 324.53M | 271.30M | 115.05M | 30.22M |
| Net Income | 69.83M | 131.65M | 233.97M | 187.97M | 86.25M | 15.61M |
Balance Sheet | ||||||
| Total Assets | 4.70B | 5.48B | 4.70B | 4.65B | 3.98B | 472.27M |
| Cash, Cash Equivalents and Short-Term Investments | 597.39M | 968.15M | 634.37M | 433.73M | 316.68M | 87.16M |
| Total Debt | 1.63M | 292.35M | 40.02M | 14.68M | 12.07M | 2.32M |
| Total Liabilities | 403.58M | 651.03M | 357.46M | 413.11M | 393.06M | 45.22M |
| Stockholders Equity | 4.30B | 4.83B | 4.35B | 4.24B | 3.59B | 427.05M |
Cash Flow | ||||||
| Free Cash Flow | 17.22M | 89.69M | 194.16M | 94.94M | 24.71M | 14.53M |
| Operating Cash Flow | 63.56M | 137.22M | 238.29M | 129.49M | 39.08M | 23.23M |
| Investing Cash Flow | -131.25M | -47.53M | -44.13M | -34.55M | -2.73B | -8.69M |
| Financing Cash Flow | 6.03M | 227.65M | 15.85M | 17.09M | 2.92B | 4.21M |
Surgical Science Sweden AB Technical Analysis
Negative
84.50
Price Trends
54.12
Negative
73.28
Negative
106.58
Negative
Market Momentum
-5.85
Negative
28.32
Positive
58.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SUS, the sentiment is Negative. The current price of 84.5 is above the 20-day moving average (MA) of 32.37, above the 50-day MA of 54.12, and below the 200-day MA of 106.58, indicating a bearish trend. The MACD of -5.85 indicates Negative momentum. The RSI at 28.32 is Positive, neither overbought nor oversold. The STOCH value of 58.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:SUS.
Surgical Science Sweden AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | kr2.93B | 4.62 | 167.77% | ― | 2687.51% | ― | |
66 Neutral | kr1.09B | 46.67 | 6.93% | ― | -5.80% | -65.99% | |
65 Neutral | kr1.61B | 23.09 | ― | ― | 13.40% | -63.89% | |
63 Neutral | kr6.14B | 205.33 | 1.32% | ― | 8.39% | -85.36% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | kr613.27M | -28.83 | -6.81% | ― | -8.10% | 62.08% | |
43 Neutral | $806.51M | -5.92 | -36.55% | ― | 62.24% | 21.16% |
* Healthcare Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.