Medistim ASA (OSE: MEDI) reported record quarterly revenue of NOK 202.0 million for Q2 2026, up 19.5% year-on-year and 27.5% on a currency-neutral basis. The Norwegian medical technology company posted an operating profit (EBIT) of NOK 65.3 million, translating to a 32.3% margin, while gross margin improved to 82.2% from 81.9% in the prior-year period.
First-half revenue reached NOK 403.7 million, marking the first time the company surpassed the NOK 400 million threshold in a six-month period. H1 operating profit rose 8.0% year-on-year to NOK 122.4 million, with an EBIT margin of 30.3%. Cash flow from operations totaled NOK 55.0 million during the period, while the company paid a dividend of NOK 8.00 per share in May, distributing NOK 146.3 million to shareholders.
Regional performance showed strong growth in the Americas, which generated NOK 103.7 million in Q2—51% of total sales—up 46.3% on a currency-neutral basis. The U.S. accounted for NOK 100.1 million of the segment’s revenue, a 32.8% increase. EMEA revenue rose 19.4% currency-neutral to NOK 48.9 million, while APAC revenue grew 22.4% to NOK 26.0 million, driven by a 15.9% increase in China.
Product segmentation highlighted continued strength in flow products, which generated NOK 129.2 million in Q2, up 27.7% year-on-year. Cardiac surgery sales reached NOK 146.8 million, a 34.9% increase, while vascular surgery sales declined 9.3% to NOK 31.8 million. In the U.S., Medistim’s penetration of coronary artery bypass graft (CABG) procedures remained at approximately 40%, with total flow-and-imaging procedures increasing 27.2% to 31,581.
The company’s balance sheet as of June 30, 2026, showed total assets of NOK 581.9 million and equity of NOK 411.0 million, with a 70.6% equity ratio. Cash and cash equivalents stood at NOK 100.1 million, down from NOK 212.1 million at year-end 2025. Interest-bearing debt remained at zero.
Medistim’s shares rose 7.3% to NOK 250 following the presentation, extending gains from a 52-week low of NOK 186.50. The company has paid consecutive dividends for 22 years.
