2025/2026

The financial year in brief

Long-term relationships, high levels of customer satisfaction, and a successful transition of our business model towards recurring and cloud-based revenue have contributed to stable growth during a time of change.

Customer satisfaction led the way

Satisfied customers, a good corporate culture, and long-term investments in developing services and products for cybersecurity in society and for increased efficiency in healthcare have led to success for Sectra through the years—and 2025/2026 fiscal year was no different.

We continued to top the Best in KLAS customer satisfaction surveys. This top spot has been held for 13 consecutive years in the US and 7 in Canada. Additionally, Sectra winners include Global PACS categories in Northern Europe, Southern Europe, DACH, Middle East/Africa, and Oceania.This provides external proof that we have the highest levels of customer satisfaction.

A selection of financial performance measures

With a strong financial position, positive cash flows and a significant share of recurring revenue, Sectra is well equipped for the future.

* Proposal to the 2026 Annual General Meeting

3,542

Net sales
SEK million

711

Operating profit
SEK million

7,600

Contracted order bookings
SEK million

5.70

Cash flow per share
SEK

2.93

Earnings per share
SEK

2.30*

Ordinary dividend 1.30 and
extra dividend 1.00 per share
SEK

Long-term initiatives

Our investments in strengthening healthcare diagnostics and society’s cyber defence is reflected in our financial performance, with historically high levels of net sales and net profit for the year.

High customer satisfaction is the pillar of our success and a clear indication of the value we create for customers and, subsequently, for our owners as well. In the long term, satisfied customers and satisfied shareholders go hand in hand.

Low churn bodes well for the future

Nearly 70% of Sectra’s sales comprise recurring revenue from long-term customer contracts, a share that is growing due to an ongoing transition to service sales. We have an extremely small share of customers who are leaving us – the churn rate of recurring revenue is as low as 0.5%.

The secret behind the high level of customer satisfaction is a strong corporate culture, clearly focused on customer value and employees who are passionate about making a difference.

A paradigm shift in Sectra’s business model—from licenses to cloud services

Sectra has been undergoing an extensive transformation for several years, shifting from traditional license sales to a business model based on service sales and delivery via the cloud. This transformation is a strategic initiative to position us for the future, one that will result in a higher rate of innovation, faster delivery, increased scalability, and greater security for our customers. This is crucial for managing growing image volumes, easing the burden on IT departments, and strengthening protection against cyberthreats

Highlights 2025/2026 fiscal year
Highlights 2025/2026 fiscal year
  • Long-term, major customer contracts led to high levels of contracted order bookings. A growing number of healthcare providers around the world chose Sectra, contributing to increased sales in all geographic markets.
  • More customers deployed the Sectra One subscription service, often delivered as a cloud service, resulting in increased recurring revenue. The transition to the cloud is progressing rapidly. Cloud-based services accounted for 57% of the operating area’s revenue.
  • Operations grew fastest in the US. A recent survey [1] shows that we are still the vendor most often chosen by US healthcare providers in PACS procurements.
  • Sectra advanced its AI offering in diagnostic imaging through the acquisition of Oxipit, UAB. The AI offering was also broadened by adding AI applications for digital pathology to Sectra Amplifier Marketplace. In addition, new AI functionality was implemented in Sectra’s reporting solution.

[1] Source: KLAS Research, Decision Insights. The survey included procurements from January 2024 to January 2026.

  • Norway introduced Sectra’s cloud-based education portal in all of the country’s healthcare regions as part of a coordinated national approach to strengthening specialist training in radiology and pathology.
  • Increased use of Sectra’s services for orthopaedics. Several customers who purchased Sectra One chose to use the orthopaedics module to save time and increase patient value.
  • Sectra’s research activities generated important new insights and tools to add value to healthcare, such as better feedback on AI results and monitoring AI performance.
  • Many countries are increasing their investments in defense and other critical functions in society. Sectra’s ability to help customers with these needs improved the operations’ performance.
  • Authorities and defense customers in Europe placed several additional orders for Sectra Tiger/S and related infrastructure as well as extending their managed-services agreements.
  • Defense customers also placed orders for further system development and research assignments that will eventually lead to a more resilient society.
  • During the year, Sectra’s NATO-approved communication solution played a key role when the leaders of the countries in the security alliance gathered in The Hague to discuss the serious security situation and the need for increased defense investment.
  • New solutions were launched to help meet the needs of organizations that need to communicate and collaborate regarding sensitive but unclassified information. A solution for secure remote access to sensitive information was also launched to support the development of civil and military defense.
  • Agreements for managed detection and response were entered into with several new customers in critical infrastructure.
  • Our ability to make our customers successful, which is one of our fundamental strategies, enables us to grow.
  • Internal and external measurements show that Sectra is an equal opportunity workplace with satisfied employees and a strong culture.
  • All financial goals have been met.

Tackling challenging and important problems in our customer environments

At Sectra, we prioritize long-term earnings performance over short-term margin increases. We take on challenging and important assignments to solve complex, meaningful problems in our customer environments – to drive us, our customers and our sectors forward. Secure communications, and autonomous AI in medical diagnostics are two excellent examples.

Strengthen international security

Sectra’s NATO-approved communication solution played a key role when the leaders of the NATO countries gathered in The Hague 2025 to discuss the serious security situation and the need for increased defense investment. The Dutch authorities in charge of hosting chose to use Sectra’s services for secure communication before and during the summit. Our encryption solutions enabled efficient and secure collaboration between authorities, including ministries, security services and the police. The assignment highlights how Sectra’s innovations are used to strengthen international security and protect sensitive information.

Autonomous AI enables efficiency gains and cost savings

Through the acquisition of AI company Oxipit, Sectra has strengthened its capabilities in autonomous AI for diagnostic imaging during the year. Oxipit holds the first CE Class IIB certification for autonomous AI in chest X-ray analysis. This feature makes it possible to identify and clear high-confidence normal examinations, without review by a radiologist. This allows radiologists to focus their work on examinations with a higher risk of disease. This is an excellent example of how AI can expand customer capacity, reduce radiologist workload, and generate substantial financial benefits through higher productivity and lower costs.

Strengthen international security

Sectra’s NATO-approved communication solution played a key role when the leaders of the NATO countries gathered in The Hague 2025 to discuss the serious security situation and the need for increased defense investment. The Dutch authorities in charge of hosting chose to use Sectra’s services for secure communication before and during the summit. Our encryption solutions enabled efficient and secure collaboration between authorities, including ministries, security services and the police. The assignment highlights how Sectra’s innovations are used to strengthen international security and protect sensitive information.

Autonomous AI enables efficiency gains and cost savings

Through the acquisition of AI company Oxipit, Sectra has strengthened its capabilities in autonomous AI for diagnostic imaging during the year. Oxipit holds the first CE Class IIB certification for autonomous AI in chest X-ray analysis. This feature makes it possible to identify and clear high-confidence normal examinations, without review by a radiologist. This allows radiologists to focus their work on examinations with a higher risk of disease. This is an excellent example of how AI can expand customer capacity, reduce radiologist workload, and generate substantial financial benefits through higher productivity and lower costs.

Digitization, AI and increasing security requirements are drivers that are fundamentally changing how both we and our customers work. For us, this is about embracing change and converting new technologies into customer value. With a corporate culture that encourages innovation and ideas, and puts them into practice, we are continuing to strengthen Sectra’s position in medical IT and cybersecurity—areas where our solutions make a difference in people’s lives, health and safety all over the world.

Torbjörn Kronander

President and CEO of Sectra

Download a copy

Click on the links to download PDF versions of The year in brief. The publication will be distributed to our shareholder by mail during July 2026.