Regulatory press release

Year-end report 2025: Profitability in line with financial targets

Fourth quarter 2025 (October – December)

Net sales amounted to SEK 268.9 (251.5) million, an increase of 7 percent compared with the corresponding period in the preceding year. Calculated in local currencies, sales increased by 15 percent.

Sales of SEK 14.2 million from Intelligent Ultrasound are included in the figures. For comparable units, sales increased by 1 percent.

License revenue amounted to SEK 92.3 (76.4) million and accounted for 34 (30) percent of net sales.

The gross margin was 66 (68) percent.

Operating profit amounted to SEK 40.1 (39.1) million. Currency effects of SEK -7.5 (-5.3) million are included in the line item Other operating income and costs.

Net profit amounted to SEK 33.3 (36.3) million, corresponding to earnings per share of SEK 0.65 (0.71).

Cash flow from operating activities amounted to SEK 72.9 (56.7) million. As at December 31, 2025, cash and cash equivalents amounted to SEK 616.4 (968.2) million.

On November 25, it was announced that the memorandum of understanding signed on January 15 with the company's largest customer, Intuitive, did not materialize into a signed agreement. This means that, as of January 1, 2026, the parties revert to the existing agreement. Surgical Science estimates that this will have a negative impact on the company's license revenues in the range of SEK 60-90 million for 2026, compared to 2025.

On December 8, Surgical Science announced new financial targets. Growth shall amount to 10-15 percent annually with an adjusted EBIT of at least 15 percent. Profitability and some sales growth is expected for 2026, although not in line with the targets. The targets are expected to be met in 2027. At the same time, the intention to begin the process of switching to the Nasdaq Main Market was announced.

Full year 2025

Net sales amounted to SEK 992.3 (884.1) million, an increase of 12 percent compared with the preceding year. Calculated in local currencies, sales increased by 19 percent.

For comparable units, sales increased by 4 percent.

License revenue amounted to SEK 300.6 (271.7) million and accounted for 30 (31) percent of net sales.

The gross margin was 66 (68) percent.

Operating profit amounted to SEK 68.9 (144.3) million. Profit includes SEK 22.6 million in acquisition costs and SEK 5.3 million in restructuring costs, which are attributable to the acquisition of Intelligent Ultrasound. Currency effects of SEK -37.7 (0.1) million are included in the line item Other operating income and costs.

Net profit amounted to SEK 66.8 (131.6) million, corresponding to earnings per share of SEK 1.31 (2.58).

Cash flow from operating activities amounted to SEK 79.8 (137.2) million.

Intelligent Ultrasound, which operates in the field of ultrasound simulation, was acquired in February. The acquisition date was February 18.

Gothenburg, Sweden, February 19, 2026
Surgical Science Sweden AB (publ)

This report, in its entirety, is available through the attachment or via:
https://surgicalscience.com/investor-relations/#press-releases
https://surgicalscience.com/aktien/financial-report

This is a translation of the Swedish version of the year-end report. When in doubt, the Swedish wording prevails.

About Surgical Science Sweden AB (publ)

Surgical Science is a global leader in evidence-based medical simulation. The company’s virtual reality simulators and customized training solutions enable surgeons and healthcare professionals to practice and improve their skills outside the operating room - enhancing patient safety and clinical outcomes. Also, Surgical Science partners with medical technology and robotics companies to integrate tailor-made simulation technology into their devices, helping them accelerate innovation and gain a competitive edge.

Surgical Science has approximately 310 employees. The company is headquartered in Gothenburg, Sweden, and has operations in Tel Aviv, Israel; Stockholm, Sweden; Cleveland, US; and Cardiff, UK. Through sales offices in the US and China as well as a global network of distributors, Surgical Science maintains a presence in most markets. Shares in Surgical Science Sweden AB (publ) are traded on Nasdaq First North Growth Market, Stockholm, Sweden. Certified Adviser is DNB Carnegie Investment Bank AB.