Photocure ASA: Results for the fourth quarter of 2025

OSLO, Norway, Feb. 18, 2026 /PRNewswire/ — Photocure ASA (OSE: PHO) today reported Hexvix®/Cysview® revenues of NOK 135.1 million in the fourth quarter of 2025 (Q4 2024: NOK 128.6 million), and a commercial EBITDA of NOK 8.4 million (Q4 2024: NOK 3.9 million) for the company. In 2026, Photocure expects product revenue growth in the range of 7% to 11% on a constant currency basis and continued operating leverage flow-through in its core Hexvix®/Cysview® commercial business.

„Photocure delivered a strong fourth quarter, finishing the year at the top end of guidance on revenue. Operating leverage was proven with commercial EBITDA margins expanding from 7% to 11% for the full year. We executed with discipline across our core business while accelerating strategic initiatives that reinforce Photocure’s position as a foundational diagnostics platform in bladder cancer,“ says Dan Schneider, President & Chief Executive Officer of Photocure.

The company continued to execute on its plan to expand blue light cystoscopy (BLC^®) use in Q4 2025 with the installation of 7 new Saphira towers in the U.S. — 1 new account and 6 blue light tower upgrades. Photocure had 384 active accounts in the U.S. at the end of the quarter, an increase of 22% versus the second quarter of 2024. Across Europe, a total of 60 Olympus Visera Elite III blue light cystoscopy (BLC) capable systems were installed since the launch in Q1 2025.