Malmö, Sweden (Aug. 21, 2025) - Acarix, a leader in rapid AI and acoustics-based cardiac diagnostics, today announced its interim financial results for the second quarter and first half of 2025. The report underscores accelerating U.S. adoption of the CADScor®System amid continued financial improvements and key reimbursement breakthroughs.
"Q2 was a defining quarter for Acarix, showcasing our ability to pair strong commercial execution with clear progress toward fixed reimbursement in the U.S.," said Aamir Mahmood, President & CEO of Acarix. "In June, we achieved our first U.S. fixed-rate reimbursement at $300 per test, followed shortly after quarter-end by a second payor covering more than 500,000 lives across multiple states. This confirms the first agreement was not an isolated win and signals the start of a broader reimbursement cascade. With the largest U.S. payor, we are nearing the 12-month milestone in the typical 12 to 18 month fixed reimbursement timeline. U.S. commercial performance was strong, with 19 CADScor® Systems delivered, a 36 percent increase over Q2 last year, and patch sales up 11 percent, validating that once the CADScor® System is installed, clinicians use it consistently. Our disciplined operating model delivered a 94 percent gross margin, reduced operating expenses by 24 percent, and improved net loss by 23 percent year-over-year. Peer-reviewed evidence in PharmacoEconomics - Open showed the CADScor® System could reduce U.S. emergency department costs by $7.3 million to $15.3 million per 10,000 patients, representing multi-billion-dollar potential savings at scale. We have the right product in the right market at the right time, and we are executing with precision to make CADScor® the standard of care in chest pain triage."
Second quarter 2025 compared to the same period in 2024
- Total revenue amounted to SEK 1,140 thousand (1,958), a decrease of 42%, as expected based on divesting in the EU and focus efforts in the US and that the majority of CADScor units were consigned vs sold
- Currency adjusted revenue decreased by 37%
- In the US, revenue amounted to SEK 595 thousand (1,040) a decrease by 43% (all consigned CADScor Units)
- Currency adjusted revenue decreased by 37% in the U.S.
- A total of 19 CADScor Systems (15) were delivered, an increase of 27%. All 19 systems were consigned and installed at customer sites within the US market.
- A total of 2,780 patches (3,530) were sold, reflecting a 21% decrease (lower EU Sales as expected)
- In the U.S., patch sales amounted 1,400 (1,260), an increase of 11%
- Gross margin amounted to 94% (91)
- Operating costs amounted to SEK 13,915 thousand (18,368), a decrease of 24%
- Net loss was SEK -12,863 thousand (-16,661), an improvement of 23%
- Net cash flow for the period was SEK -13,027 thousand (-15,242)
- Earnings per share were SEK -0.01 (-0.02).
First half of 2025 compared to the same period in 2024
- Total revenue amounted to SEK 2,870 thousand (3,509), a decrease of 18%
- Currency adjusted revenue decreased by 17%
- In the US, revenue amounted to SEK 1,829 thousand (2,008), a decrease of 9%
- Currency adjusted revenue decreased by 7% in the U.S.
- A total of 39 CADScor Systems (28) were delivered, an increase of 39%
- In the U.S., 38 CADScor Systems (27) were delivered, an increase of 41%
- A total of 5,940 patches (6,054) were sold, a decrease of 2%
- In the U.S., 3,520 patches (2,300) were sold, an increase of 53%
- Gross margin amounted to 86% (91)
- Operating costs amounted to SEK 29,352 thousand (34,708), a decrease of 15%
- Net loss amounted to SEK -26,971 thousand (-31,591)
- Net cash flow amounted to SEK -24,794 thousand (12,742)
- Cash and cash equivalents amounted to SEK 32,260 thousand (48,271)
- Earnings per share amounted to SEK -0.02 (-0.04)
- A number of shares amounted to 1,123,320,142 (1,123,320,142).
Webcast presentation of the Q2 interim report is available at 3pm CET on: https://www.acarix.com/investor-presentations/
Link to the Acarix financial reports: https://www.acarix.com/for-investors/financial-reports-and-calendar
About Acarix
| Acarix is a Swedish medical device company that innovates solutions for rapid rule out of coronary artery disease (CAD) at point of care. The CE-approved and FDA DeNovo-cleared Acarix CADScor System is intended for patients experiencing chest pain with suspected CAD and designed to help reduce millions of unnecessary, invasive, and costly diagnostic procedures. The CADScor System has been used on more than 40,000 patients. Acarix recommends CADScor System as a first-line diagnostic aid that uses highly sensitive acoustics and advanced computational processing to analyze coronary blood flow to rule out significant coronary artery disease (CAD), with at least 96% certainty at point of care. Acarix is listed on the Nasdaq First North Premier Growth Market in Stockholm (ticker: ACARIX) and cross-traded on the OTCQB market in the US (ticker: ACIXF). Carnegie Investment Bank is the Certified Advisor of Acarix. For more information, please visit www.acarix.com |
For more information, contact
Macie May, phone +1 405 517 5161, email mmay@saxum.com
