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