Increased licensing revenue helped propel radiation therapy software provider RaySearch Laboratories to strong sales growth and significantly higher operating margins in its second quarter.
In interim results for its second quarter (end-June 30), the Stockholm, Sweden-based company reported net sales of 318.9 million Swedish krona ($30.5 million U.S), up 33% overall and up 32% on a constant-currency basis from the 239.5 million krona ($22.9 million) produced in the second quarter of 2023. The company had profit after tax of 61.4 million Swedish krona ($5.8 million), an increase of 463% over Q2 2023.
License revenue in Q2 2024 amounted to 163.9 million krona ($15.7 million) with prepaid license sales delivered during the quarter to EBG MedAustron comprising 37 million krona ($3.5 million).
For the half-year (January-June 2024), RaySearch net sales rose 22.7% over the same period in 2023 to reach 576.1 million krona ($55 million), with 42% generated in America, 40% in Europe and Africa combined, and 18% in Asia, the Pacific and Middle East combined.
