C-RAD (CRAD) investor relations material

Market overview and growth drivers

• Global cancer incidence is rising, with cases projected to grow from 20M in 2025 to 28M by 2045, fueling demand for radiotherapy solutions.

• Surface Guided Radiation Therapy (SGRT) is becoming the global standard of care, with proton therapy as the fastest-growing segment.

• There is a significant deficiency in radiotherapy infrastructure, with a need for more linacs and proton/ion centers worldwide.

Business model and recurring revenue

• Revenue is driven by product sales, software licenses, service contracts, and training, with a growing installed base of over 2,000 systems in about 60 countries.

• Recurring revenue from services and software is increasing, supported by a 38% CAGR in services and a 24% ARR share.

• Product sales account for 76% and services for 24% of revenue, underpinning a scalable and profitable model.

Financial performance and targets

• Revenue reached 444 MSEK LTM Q2 2026, up 23% from FY2025, with a gross margin of 73% and EBIT margin of 15%.

• The company is debt-free with a net cash position of 138M, supporting strategic flexibility.

• Medium-term goals include annual organic growth above 10%, EBIT margin of 25%, and returning at least 30% of net profit to shareholders.