ContextVision AB (publ)

Welcome to ContextVision and welcome to the presentation of our third quarter 2026 results. Today with Richard, our CFO, and myself Gerald. We have a lot of good news to share, in particular financially, so I hope you'll be excited about the first slide, but I also ask you to stay throughout the presentation to learn what it means for our future. Highlights. We have delivered a strong underlying revenue growth with 34.5% in the quarter and 11.7% for the first nine months. This resulted in a revenue for the quarter of 26.5 million SEK and an EBITDA, adjusted EBITDA of 9.2 million SEK. That was driven mainly by positive developments in our license sale and there in particular the Chinese market that has continued to show signs of stabilization as we talked about in the second quarter. We've seen interesting developments in the industry in line with our strategy and an increased focus on application specific imaging. Last but not least, we've successfully initiated our share buyback program, which just after the closing of the third quarter has already exceeded the 5% threshold for our total holdings. So good progress also on the share buyback program. Let's look a little bit more into what's happening in the market. As mentioned, we have seen a stabilizing market. In particular, the primary demand for our customers in China has increased and consequently the procurement of licenses from ContextVision has seen a positive development. Let me also mention that throughout the quarter we have received a substantial bulk order from one of the Chinese customers which can be seen as a very positive impact because we usually expect that order to happen in the fourth quarter but it could just also be a timing effect. So it is probably too early to expect a very strong positive market development. We remain cautious in our outlook Ola Lindblad Ola Lindblad Imaging. So that is a very natural move for major companies to look into profitable segments which are typically interventional or application specific. We have decided already longer ago in our strategy to focus exactly on those areas, application specific image enhancement but also disease specific quantitative biomarkers. So the trends that we're seeing in the market are confirming our strategy and our way forward. and that is good to see given the major investments that we're making and betting on those trends in the market. Let's look into the business during the third quarter. For our image quality or image enhancement business we've seen a development of customer relations in line with our expectations. Very positively we see upgrades that we had launched earlier Richard Hallstrom, Katarina Flood, Gerald Potzsch, Marco Marien Voormolen, Ola Lindblad Richard Hallstrom, Katarina Flood, Gerald Potzsch, Marco Marien Voormolen, Ola Lindblad We're making good progress in the patient recruitment for our clinical development program. We are at 25 patients in our liver disease program so far, so that's out of the target of 110. A reasonably good progress given the complexity of the study. and we remain optimistic that the recruitment rate is going to increase, which then obviously also has an impact on future costs of the program. Last but not least, we have talked earlier about the collaboration with our Korean A medical AI partner, Beamworks. And then we've seen a great progress in getting together and understanding how we jointly build and launch products based on components that we jointly contributed. ContextVision's experience in integrating and implementing software into OEM imaging systems together with the AI partners www.beamworks.com Now, having that said, let's spend some time in looking into the financial details about the success in the third quarter and the first nine months. I'll hand over to Richard to take us through the numbers.

Thank you, Gerald. Let me start with the revenue development for the third quarter. Revenue amounts to 26.5 million SEK compared to 23.7 million SEK in the same quarter of last year, representing an increase of 11.5%. As Gerald mentioned earlier, increased license sales in some of our key customer markets were the main driver of this growth. As discussed in previous quarters, we've refined our assessment of the timing of revenue recognition under IFRS 15. In the third quarter, this had a negative impact of 4.1 million SEIC on reported revenue. Adjusting for this effect and translational effects, underlying revenue growth amounts to approximately 34.5% for the quarter. For the first nine months of the year, revenue reached 90.3 million SEIC compared to 78.6 million SEIC of last year, with underlying revenue growth of approximately 11.7%. Moving on to profitability. Adjusted EBITDA for the third quarter amounted to 9.2 million SIC up from 4 million SIC of last year. This corresponds to an adjusted EBITDA margin of 34.7% up from 16.7%. Reported EBITDA increased 7.1 million SIC from 1.4 million SIC of last year, resulting in an EBITDA margin of 27% versus 5.7%. Adjusted earnings per share also improved to 0.09 SIC from 0.03 SIC in Q3 of last year. The improvement in profitability was mainly driven by increased license sales and continued cost control while maintaining our investments in research and development. As mentioned earlier, refined assessment of revenue recognition had a negative impact on the quarter's reported revenues. Despite this, we delivered a clear improvement in profitability compared with last year. The cash flow from operating activities for the third quarter saw an increase up to SEK 7.2 million after changes in working capital compared to SEK-2 million in Q3 2025, with improved operating results as a primary driver. From financing activities, cash flow amounted to a negative 4.1 million SEK, largely impacted by the repurchase of our own shares. Total cash flow for the quarter was 3.1 million SEK versus a negative 2.9 million SEK of last year. At the end of the quarter, we have a cash position of 81.6 million SEK, displaying a continued strong financial position. And with that, I hand over the word to Gerald to take the stage again.

Richard, thank you for the deep dive into the numbers. I think it's fair to conclude that we have delivered a very solid financial quarter, and we've seen good progress in the areas that will drive our long-term strategy. Let me just add by looking ahead that just after closing of the third quarter we have already signed an additional partnership agreement with Linköping University, Region Östergötland and CIMIV and this is to expand our clinical footprint to create more clinical evidence Richard Hallstrom, Katarina Flood, Gerald Potzsch, Marco Marien Voormolen, Ola Lindblad So looking ahead, we're full steam ahead in executing our quantitative imaging program. We've added new partners. We also need to be aware that this is likely to drive our R&D investments moving forward. In particular, patients recruited into studies have a price tag earmarked. So we're going to see that impact in a positive way moving forward. So we need to remain obviously cautious in cost control. Now we're all ready and set to meet our customers and bring that message also into the market when we travel to RS&A in a couple of weeks, the big conference in our business where the good news will hopefully spread to our customers. So stay tuned for an exciting year-end race and an exciting year ahead of us. Thank you.