contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
      researchContent {
        title
        lang
        pdfUrl
        relatedContent {
          __typename
          ...PublishingDetails
          ...Reactions
          id
        }
        content {
          title
          lang
          slug
          htmlBody
          publishedAt
          createdAt
          changedAt
          isOutdated
          isPremium
        }
      }
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


redeye-surgical-science-q3-review-soft-margins-and-cash-conversion

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

Surgical Science Sweden operates in the medical technology sector. The company develops VR simulators in surgery. The simulators consist of both hardware and software that are used in training and personal development for surgeons. The hardware simulates various surgical procedures, primarily used in keyhole surgery and endoscopy. The vision is to strengthen expertise in surgery and create conditions for better treatments. The headquarters are located in Gothenburg.

SURGICAL SCIENCE: DANSKE SEES INTERESTING GROWTH PROSPECTS DESPITE DOWNSlide STOCKHOLM (Nyhetsbyrån Direkt) Danske Bank continues to believe that Surgical Science has interesting growth prospects despite the terminated letter of intent with Intuitive Surgical (ISRG) that was announced on Wednesday and caused the share to fall 60 percent to SEK 30. This is evident from an analysis on Thursday where the target price is lowered to SEK 55 from SEK 125 with a maintained buy recommendation. The bank writes that Surgical Science is down for the count but not out. Looking ahead to 2026, Danske Bank sees growth opportunities both within the Industry/OEM business area as well as for Educational Products. Following the termination of the letter of intent, Danske Bank sees EBITA growth of 19 percent for 2026. For the full years 2026 and 2027, Danske Bank lowers its estimates for sales and EBITA by 9 and 46 percent, respectively. Growth in Industry/OEM is expected to be -4 percent for 2026 with a 19 percent decline in license revenue in the same year. Adjusted for ISRG, underlying license sales are expected to grow by 9 percent in 2026. Surgical Science is now trading at valuation multiples of 6-4 times EV/EBITA for the years 2026-2027, according to Danske Bank. The target price of SEK 55 at the bank corresponds to a valuation multiple of 14 times for the estimated 2026 results.  edit                   redeye.se              Top Picks: Tough Calls in Tough Markets    Top Picks comments on a significant development that fundamentally changes one of our investment theses. When new information alters the long-term outlook in a material way, we adjust accordingly, an

Pareto Securities expects a double-digit decline for surgical simulator company Surgical Science after customer Intuitive terminated its letter of intent to integrate the company’s simulation software into all da Vinci 5 (dV5) robotic systems. According to Surgical Science, this will result in a negative impact on licensing revenue of SEK 60-90 million next year. In light of this announcement, Pareto has revised down its licensing estimates by 20 percent, and lowered next year’s revenue and operating profit forecasts by 12 and 50 percent, respectively. This leads to both a lowered recommendation to hold (buy) and a lower target price of SEK 75 (130). “Although the share price has already been weak in recent weeks, we expect the share to decline by double digits today,” the research house writes.                    redeye.se              Surgical Science: A fateful day    Redeye comments on Surgical Science dropping an absolute bomb of a press release. Contrary to prior assumptions, Surgical Science’s simulation will only feature in a minority of da Vinci 5 robots. In                              Growing licence sales have been key to our investment thesis, driving both top-line and margin expansion. As this announcement significantly affects our estimates, it also has a marked effect on our valuation. Specifically, we lower our base case from SEK174 to SEK118. Similarly, our valuation range drops from SEK66-311 to SEK45-189 per share. While the share is already rather depressed, we expect these latest news to elicit a significant negative reaction. We will contemplate further adjustments to our estimates and valuation after the company’s capital markets day.  Another rotten apple in the portfolio this year, in addition to the previous ones  This is quite a year. Well, RE Top Picks probably added this just at the end of last week or something.

Now there’s a spanner in the works. Intuitive is withdrawing from the memorandum of understanding drafted in January. Consequently, SUS’s simulation software will no longer be included in every delivery of the Da Vinci 5 model, but only for selected customers. As a result, next year’s revenue forecast will have to be lowered by 60-90 MSEK. The impact is thus estimated to be at most -6%, but this certainly cuts expectations for future years as well. It also makes one wonder about the relationship with the largest customer.                   Surgical Science              Intuitive cancels the MoU and reverts to existing agreements. Surgical...    The Memorandum of Understanding (MoU) signed between the companies on January 15 this year did not turn into a signed legal agreement. As a consequence of this, Surgical Science will not reach the previously stated financial targets for 2026. The...         Est. reading time: 3 minutes

Surgical Science Sweden’s Q3’25 webcast:                   Inderes              Surgical Science Sweden, Audiocast, Q3'25 - Inderes    Time: 2025-11-13 11:00 Language: en Language: en Sector: Health care - Equipment & Services Activity: Audiocast with teleconference

Q3, perhaps a step in the right direction even though profitability is still under pressure. CMD next month.                   MFN – 13 Nov 25              Surgical Science Sweden AB (publ): Interim report January–Septemb...    Third quarter 2025 (July – September) Net sales amounted to SEK 263.6 (231.8) million, an increase of 14 percent compared with the corresponding period in the preceding year. Calculated in local ...

I’m not entirely sure what opinion you ended up with on this, but at least ISRG sees some sense in it.  Largest customer Intuitive Surgical will roll out its cutting-edge da Vinci 5 surgical robot in 2025e and include simulation in all systems, increasing attach rate from c30-35% previously to 100%. Simulation for da Vinci 5 systems will be a purely subscription-based model,  Through its acquisitions, the company is capable of offering services to various segments:  We judge that Surgical Science currently holds a quasi-monopoly or oligopoly position in several niches of the medical simulation industry. Additional acquisitions may extend this position to further niches. Such a dominant position is an excellent position from which to extract high profit margins, but it could also breed complacency among incumbents. Potential complacency could lead to new challengers entering the space with innovative products, winning over key customers despite Surgical Science’s sticky customer relationships and high switching costs.

Thanks for this, I didn’t know. I think it’s more plausible that SSS will find itself as part of another company over time, because the differences between devices are so great that the simulation needs to be customized. What I generally stated about the devices still holds true - the uses of simulation overlap with the actual surgical procedure, and the hardware manufacturer always has the option to do it themselves. Here, the limitation is not technical but the customers’ willingness to pay; it would be best if the customer acquired multiple systems, some for procedures and some for training, orientation, and surgical planning. Therefore, I would view simulations favorably as long as Western specialized healthcare, especially in Europe, is seen as a cost that should be reduced.

Surgical Science Sweden

Redeye updates its estimates following Surgical Science’s Q3 2025 report, which featured decent sales but subpar profitability and cash flows. While we believe the share’s valuation has become...

<div class="mfn-body"><p>Redeye updates its estimates following Surgical Science’s Q3 2025 report, which featured decent sales but subpar profitability and cash flows. While we believe the share’s valuation has become undemanding, recent performance throws into doubt whether the company can reach its margin target for 2026e.</p><p><a rel="noopener" href="https://www.redeye.se/research/1138920/surgical-science-q3-review-soft-margins-and-cash-conversion?utm_source=MFN&amp;utm_medium=pmcour">Read more and download the Research Update.</a><br>&nbsp;<br>Follow companies at Redeye to receive the latest equity research within Life Science and Technology.<br>&nbsp;<br>This is a press release from Redeye - Research Powered Investment Banking. <a rel="noopener" href="https://www.redeye.se/">www.redeye.se/</a></p></div><div class="mfn-footer mfn-attachment mfn-attachment-general"><p><strong class="mfn-heading-1">Attachments</strong></p><hr><p><a rel="noopener" href="https://storage.mfn.se/d830534f-a9af-478b-b904-df00ae906fb0/surgical-science-q3-review-soft-margins-and-cash-conversion.pdf" class="mfn-generated mfn-primary">Surgical Science (Q3 review) - Soft margins and cash conversion</a></p></div>

Redeye: Surgical Science (Q3 review) - Soft margins and cash conversion

Redeye: Surgical Science (Q3 review) - Soft margins and cash conversion