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RaySearch Stock Plummets 20% After Delayed US Deals Hit Q2 Sales
Shares of RaySearch Laboratories (STO:RAY-B) plunged 20% on Thursday after the Swedish medical technology company released preliminary second-quarter results that fell short of expectations, citing the postponement of several major deals in the United States.
Preliminary Results Disappoint
According to the company's announcement, the weaker-than-anticipated performance was primarily driven by a timing issue with U.S. contracts, which RaySearch stressed have been delayed, not lost. The preliminary figures for the second quarter revealed a significant impact on top and bottom lines:
- Net sales declined year-over-year, with organic growth at -8%.
- Operating profit also fell, directly linked to the deferred revenue from the U.S. deals.
AdContrasting Signals and Outlook
Despite the decline in recognized sales, RaySearch reported that its order intake for the second quarter actually increased compared to the same period last year. This suggests a potentially strong future revenue pipeline once the delayed deals are finalized.
Looking ahead, the company expressed confidence in its performance for the remainder of the year. RaySearch reaffirmed its full-year guidance, maintaining its target for an operating margin of at least 25% for 2026 and anticipating a strong second half.
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