Core Insights - Photocure ASA reported record revenues for Hexvix®/Cysview® of NOK 135.6 million in Q2 2025, up from NOK 122.4 million in Q2 2024, with an EBITDA of NOK 14.8 million compared to NOK 27.8 million in the previous year [1][2] - The company anticipates product revenue growth between 7% to 11% and year-over-year EBITDA improvement for 2025, driven by operational leverage and milestone growth [1][6] Financial Performance - Hexvix/Cysview revenues reached NOK 135.6 million in Q2 2025, marking an increase from NOK 122.4 million in Q2 2024 [1] - EBITDA for Q2 2025 was NOK 14.8 million, a decrease from NOK 27.8 million in Q2 2024, which included a milestone payment of NOK 21.6 million [1] - The company expects continued growth in product revenues and EBITDA improvement throughout 2025 [1][6] Market Expansion - The U.S. franchise showed strong performance with a 24% increase in active accounts, and rigid kit sales rose by 21% in Q2 2025 [2][3] - Photocure installed 12 new Saphira™ towers in the U.S. during Q2 2025, contributing to the expansion of blue light cystoscopy [3] - A total of 36 Olympus Visera Elite III blue light cystoscopy systems were installed across Europe since their launch in Q1 2025, expected to enhance Hexvix growth in the Nordic region and continental Europe [4] Strategic Partnerships - The company is exploring partnerships to integrate blue light cystoscopy with emerging products and technologies, including a development partnership with Richard Wolf [6] - A license agreement with Asieris for Cevira could lead to significant milestone payments upon regulatory approval in China [6]