PhotoCure ASA (OSL:PHO)
kr 49.3 0.4 (0.82%) Market Cap: 1.34 Bil Enterprise Value: 1.05 Bil PE Ratio: 94.81 PB Ratio: 2.67 GF Score: 78/100
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Q1 2023 Photocure ASA Earnings Call Transcript

May 10, 2023 / 12:00PM GMT
Release Date Price: kr52.6 (-5.23%)
Daniel Schneider
Photocure ASA - President & CEO

All right. Good afternoon, everyone in Europe, and good morning to those in the U.S. I'm Dan Schneider, President and CEO of Photocure. Welcome to first quarter 2023 results. Joining me in today's presentation is Erik Dahl, the Chief Financial Officer; and David Moskowitz, Vice President of Investor Relations, who will be translating questions at the end of today's session.

Next slide, please, Slide 2. Just to remind for everyone on the call today, disclaimers are in place.

Slide 3, please. So I think the headline is a return to growth for both regions, 30% revenue growth or 10% unit growth. Sequentially revenues were up 12% and -- sequentially and Q4 -- in demonstrating the anomaly that we spoke about in Q4. U.S. volume on unit was up 16% and Europe was up 6% year-over-year.

Hospital budgets still remain challenging, U.S., Germany, Italy, but we continue to grow the business nonetheless. I think excitingly, 30 new Saphira towers were installed during the quarter, 18 new, 12 upgrades. In addition to new account growth, we

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