Medistim ASA reported record second-quarter results for 2026, with total sales rising 27.5% on a currency-neutral basis to NOK 202 million. The company’s operating profit reached NOK 65.3 million, lifting the EBIT margin to 32.3%. Shares rose 5.58% to NOK 246 in early trading, extending the stock’s year-to-date gain to 10%.
First-half revenue increased 23.4% currency-neutral to NOK 403.7 million, surpassing the NOK 400 million mark for the first time in company history. Own product sales grew 33.6% in Q2, while third-party product revenue declined 7%. Recurring revenue accounted for approximately 70% of total sales over the past 12 months, driven by capital probes, PPP cards, and lease contracts.
Geographic performance showed strong growth across all regions. The Americas generated NOK 103.7 million in Q2 revenue, representing more than half of total sales. Currency-neutral growth in the region accelerated 46.3% in Q2 and 37% in the first half, with pricing contributing about 37% of the U.S. growth and volume adding roughly 9%. EMEA reported 19.4% currency-neutral growth in Q2, while Asia Pacific expanded 22.4%.
Operating profit for the first half reached NOK 122.4 million, with an EBIT margin of 30.3%. Gross margin stood at 82.2% in Q2, slightly above the 81.9% recorded a year earlier. Net profit after tax increased 21.6% to NOK 52.2 million in Q2, while earnings per share for the first half exceeded NOK 5.
Medistim maintained its dividend track record with an NOK 8 per share payout in May, totaling NOK 146.3 million. The company ended the half with a cash position of NOK 100 million and no interest-bearing bank debt, supported by over 70% equity on its balance sheet.
Management highlighted ongoing investments in software and product launches as key growth drivers. INTUI software is scheduled to expand to vascular and Ultimate systems in the first half of 2027, with MiraQ Ultimate and MiraQ Vascular launches expected in Q2 2027. The company aims to reach NOK 1 billion in annual revenue within the next few years, according to CEO Kari Krogstad.
