RaySearch Laboratories AB (publ) (RSLBF)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
RaySearch Laboratories AB (publ) (RSLBF) trades at $21.33 with AI Score 57/100 (Grade B). RaySearch Laboratories AB (publ) develops and markets innovative software solutions for cancer treatment. Market cap: $723.15M, Sector: Healthcare.
Price live · AI analysis from Mar 17, 2026Analyst Coverage for RSLBF: RSLBF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates RSLBF against Healthcare peers across nine fundamental dimensions and assigns a mixed fundamental profile based on the underlying data.
RSLBF: 2/4 perspectives are bullish. Dominant signal: Moon AI bullish.
How is this calculated? →RaySearch Laboratories AB (publ) (RSLBF) Healthcare & Pipeline Overview
RaySearch Laboratories AB (publ) specializes in advanced software solutions for cancer treatment, focusing on radiation therapy planning. Their flagship product, RayStation, offers comprehensive tools for optimizing treatment plans and improving patient outcomes, positioning them as a key player in the healthcare information services sector.
What Is the Investment Thesis for RSLBF?
RaySearch Laboratories presents a compelling investment case based on its innovative software solutions for cancer treatment and its strong market position. With a P/E ratio of 31.8 and a profit margin of 16.9%, the company demonstrates solid financial performance. Key value drivers include the increasing global demand for advanced cancer treatment solutions and the growing adoption of RayStation and RayCare in leading cancer centers. Growth catalysts include expanding into new geographic markets and developing new software features and functionalities. Potential risks include competition from established players in the medical technology industry and the regulatory hurdles associated with medical software development. The company's high gross margin of 86.8% indicates a strong pricing power and efficient cost management.
Based on FMP financials and quantitative analysis
RSLBF Key Highlights
- Market Cap of $723.15M reflecting investor confidence in RaySearch's growth potential.
- Profit Margin of 16.9% demonstrates efficient operations and profitability.
- Gross Margin of 86.8% indicates strong pricing power and efficient cost management.
- P/E Ratio of 31.8 suggests a premium valuation reflecting growth expectations.
- Beta of 1.06 indicates volatility in line with the market.
Who Are RSLBF's Competitors?
RSLBF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| BIOGY BioGaia AB (publ) | $11.00 | +0.00% | $1.11B | 53 |
| CRWRF Craneware plc | $24.20 | +0.00% | $828.54M | 50 |
| LTGHF Life Healthcare Group Holdings Limited | $0.72 | -11.53% | $1.03B | 44 |
| MDRX Veradigm Inc. | $5.09 | +1.90% | $865.28M | 50 |
| NWKHY Netcare Limited | $7.17 | +0.00% | $843.64M | 50 |
| CARL CARLSMED, INC. | $11.90 | +4.94% | $323.50M | 70 |
| HNGE Hinge Health, Inc. | $89.42 | +6.39% | $6.92B | 68 |
| VRHI Veri Medtech Holdings Inc. | $1.95 | +0.00% | $39.09M | 67 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are RSLBF's Key Strengths?
- Innovative software solutions for cancer treatment
- Comprehensive product portfolio
- Strong customer relationships
- High gross margin
What Are RSLBF's Weaknesses?
- Limited brand recognition compared to larger competitors
- Dependence on a few key products
- Geographic concentration in Europe
What Could Drive RSLBF Stock Higher?
- Launch of new software features and functionalities for RayStation in Q4 2026.
- Increasing adoption of RayCare oncology information system in hospitals worldwide.
- Expansion into new geographic markets, particularly in Asia and Latin America.
- Strengthening partnerships with leading cancer centers for research and development.
What Are the Key Risks for RSLBF?
- Rich valuation — a P/E of 31.8 runs well above the Healthcare sector’s ~23x, leaving little room for a miss.
- Competition from established players in the medical technology industry.
- Regulatory hurdles associated with medical software development.
- Technological obsolescence due to rapid advancements in cancer treatment technologies.
- Dependence on a few key products for revenue generation.
What Are the Growth Opportunities for RSLBF?
- Expanding into emerging markets: RaySearch has the opportunity to expand its presence in emerging markets, such as Asia and Latin America, where the demand for advanced cancer treatment solutions is growing rapidly. These markets offer significant growth potential due to their large populations and increasing healthcare spending. A focused market entry strategy with local partnerships could drive adoption of RaySearch's RayStation and RayCare platforms, targeting a market size estimated at $500 million by 2030.
- Developing new software features and functionalities: RaySearch can drive growth by continuously developing new software features and functionalities that address the evolving needs of cancer treatment centers. This includes incorporating artificial intelligence and machine learning algorithms to improve treatment planning accuracy and efficiency. Investing in R&D to enhance RayStation's capabilities will attract new customers and retain existing ones, with a projected impact of increasing revenue by 15% annually over the next five years.
- Strengthening partnerships with leading cancer centers: RaySearch can strengthen its partnerships with leading cancer centers and hospitals to drive adoption of its software solutions. Collaborating with these institutions on research and development projects will enhance the credibility and visibility of RaySearch's products. These partnerships will also provide valuable feedback for improving the software and developing new features, potentially securing long-term contracts with key institutions.
- Offering cloud-based solutions: RaySearch can capitalize on the growing trend of cloud computing by offering cloud-based versions of its RayStation and RayCare platforms. This will provide customers with greater flexibility, scalability, and cost savings. Cloud-based solutions will also enable RaySearch to offer subscription-based pricing models, which can generate recurring revenue streams and improve customer retention. The cloud-based oncology analytics market is projected to reach $3 billion by 2028.
- Integrating with other healthcare IT systems: RaySearch can enhance the value of its software solutions by integrating them with other healthcare IT systems, such as electronic health records (EHRs) and hospital information systems (HIS). This will enable seamless data exchange and workflow automation, improving the efficiency of cancer treatment centers. Interoperability with other systems will also make RaySearch's products more attractive to potential customers, positioning the company for sustained growth.
What Opportunities Does RSLBF Have?
- Expanding into emerging markets
- Developing new software features and functionalities
- Strengthening partnerships with leading cancer centers
- Offering cloud-based solutions
What Threats Does RSLBF Face?
- Competition from established players
- Regulatory hurdles
- Technological obsolescence
- Economic downturn
What Are RSLBF's Competitive Advantages?
- Technological expertise: RaySearch has a strong technological expertise in radiation therapy planning, which is difficult for competitors to replicate.
- Comprehensive product portfolio: The company offers a comprehensive product portfolio that covers the entire cancer treatment workflow, providing a competitive advantage.
- Strong customer relationships: RaySearch has built strong relationships with leading cancer centers and hospitals, which are difficult for competitors to break.
- High switching costs: The high switching costs associated with radiation therapy planning software make it difficult for customers to switch to competitors.
What Does RSLBF Do?
RaySearch Laboratories AB (publ) was founded in 2000 in Stockholm, Sweden, by Johan Löf, with the vision of improving cancer treatment through innovative software solutions. The company's core product, RayStation, is a treatment planning system designed to optimize radiation therapy for cancer patients. RayStation integrates various treatment modalities, including photon, electron, proton, and carbon ion therapy, allowing clinicians to create highly personalized and effective treatment plans. Over the years, RaySearch has expanded its product portfolio to include RayCare, an oncology information system designed to streamline the entire cancer treatment workflow, and RayCommand, a treatment control system. RayIntelligence, a cloud-based oncology analytics system, was later added to turn patient data into insights. RaySearch operates globally, with offices in Europe, North America, and Asia, serving leading cancer centers and hospitals worldwide. The company's commitment to innovation and collaboration has solidified its position as a leader in the field of radiation therapy planning.
What Products and Services Does RSLBF Offer?
- Develops RayStation, a treatment planning system for radiation therapy.
- Offers RayPlan, a treatment planning system for 3D-CRT, IMRT, VMAT, tomotherapy, and electron beam radiation therapy.
- Provides RayCare, an oncology information system to support cancer treatment activities.
- Markets RayCommand, a treatment control system compatible with various hardware models.
- Offers RayIntelligence, a cloud-based oncology analytics system.
- Provides training courses related to its products.
How Does RSLBF Make Money?
- Software licensing: RaySearch generates revenue through the licensing of its RayStation, RayCare, RayPlan, RayCommand and RayIntelligence software.
- Service and support: The company provides service and support to its customers, generating additional revenue.
- Training: RaySearch offers training courses related to its products, providing another revenue stream.
What Industry Does RSLBF Operate In?
RaySearch Laboratories operates within the healthcare information services industry, which is experiencing rapid growth due to the increasing prevalence of cancer and the growing demand for advanced treatment solutions. The market for radiation therapy planning systems is highly competitive, with established players such as BIOGY and CRWRF, as well as emerging companies vying for market share. RaySearch differentiates itself through its innovative software solutions, comprehensive product portfolio, and strong customer relationships. The industry is also characterized by stringent regulatory requirements and the need for continuous innovation to stay ahead of the competition.
Who Are RSLBF's Key Customers?
- Cancer centers: RaySearch's primary customers are cancer centers and hospitals that use its software to plan and deliver radiation therapy.
- Hospitals: Hospitals with oncology departments utilize RaySearch's software solutions.
- Research institutions: Research institutions involved in cancer treatment research also use RaySearch's products.
FY2026 estForward Outlook
Wall Street analysts project RaySearch Laboratories AB (publ) revenue of about $1.41B for fiscal 2026, with EPS near $7.82.
Quarterly Financial Performance: RaySearch Laboratories AB (publ)
Revenue for RaySearch Laboratories AB (publ) came in at $289.3M during Q1 2026, a 22.9% contraction versus the preceding quarter. The company recorded net income of $53.0M, with diluted EPS of $1.55. Quarter-over-quarter revenue has been mixed, typical for a small-cap company operating in Healthcare. Across the four most recent quarters, RSLBF averaged $1.63 in diluted EPS.
RSLBF Valuation & Market Position
With a $723.15M market cap, RaySearch Laboratories AB (publ) sits in the small-cap segment of the market. Relative to its peer group, RSLBF's quantitative score of 57/100 is roughly in line with the peer average of 49/100.
ROE 24%Key Financial Metrics
Return on equity for RaySearch Laboratories AB (publ) stands at 23.6%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 11.1%, showing how much profit it generates from its asset base. RSLBF trades at a trailing price-to-earnings ratio of 31.81, above the Healthcare sector average of ~23x. Its free cash flow yield is 2.9%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.79 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 2.8%, the inverse of the P/E and a quick read on earnings relative to price.
F-Score 7/9Financial Health
RaySearch Laboratories AB (publ)'s Piotroski F-Score is 7/9, a 9-point checklist of profitability, leverage and efficiency — signaling solid underlying fundamentals. Its Altman Z-Score of 5.58 places it in the safe zone, indicating low near-term bankruptcy risk.
7/8 beatsEarnings Track Record
RaySearch Laboratories AB (publ) has beaten Wall Street's EPS estimate in 7 of its last 8 reported quarters — a consistent record of delivering on expectations. Reported results have landed about 46.4% above estimates on average.
Company Profile
RaySearch Laboratories AB (publ) operates in the Medical - Healthcare Information Services industry within the Healthcare sector. It is headquartered in Stockholm, SE. The company is led by CEO Johan Lof. RSLBF has traded publicly since 2015.
RSLBF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Innovative software solutions for cancer treatment
- Comprehensive product portfolio
- Strong customer relationships
- High gross margin
Bear Case
- Limited brand recognition compared to larger competitors
- Dependence on a few key products
- Geographic concentration in Europe
- Potential: Competition from established players in the medical technology industry.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · July 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $289M | $53M | $1.55 |
| Q4 2025 | $375M | $69M | $2.00 |
| Q3 2025 | $332M | $72M | $2.09 |
| Q2 2025 | $305M | $31M | $0.90 |
Based on FMP financials and quantitative analysis
RSLBF Latest News
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Yahoo! Finance: RSLBF News · Jun 9, 2026
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Yahoo! Finance: RSLBF News · Jun 5, 2026
RSLBF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for RSLBF.
Price Targets
Wall Street price target analysis for RSLBF.
RSLBF MoonshotScore
What does this score mean?
The MoonshotScore rates RSLBF's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Johan Lof
CEO
Johan Löf is the founder and CEO of RaySearch Laboratories AB (publ). He holds a Ph.D. in Medical Radiation Physics from the Karolinska Institute in Stockholm. Prior to founding RaySearch, Dr. Löf worked as a researcher at the Karolinska Institute, focusing on radiation therapy planning and optimization. His academic background and research experience have been instrumental in shaping RaySearch's innovative approach to cancer treatment software.
Track Record: Under Johan Löf's leadership, RaySearch has grown from a small startup to a leading provider of software solutions for cancer treatment. He has overseen the development and launch of RayStation, RayCare, and other key products. He has also led the company's expansion into new geographic markets and its strategic partnerships with leading cancer centers. Johan Lof has successfully managed the company to achieve a market cap of $723.15M.
RSLBF OTC Market Information
The OTC Other tier represents the lowest tier of the over-the-counter (OTC) market, indicating that RaySearch Laboratories AB (publ) may not meet the minimum financial standards or reporting requirements of higher tiers like OTCQX or OTCQB. Companies in this tier may have limited financial disclosure, making it more difficult for investors to assess their financial health and operational performance compared to companies listed on major exchanges like the NYSE or NASDAQ. This tier often includes companies with limited trading volume and higher risks.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited financial disclosure: The lack of comprehensive financial reporting increases the difficulty of assessing the company's financial health.
- Lower liquidity: Reduced trading volume can lead to wider bid-ask spreads and price volatility.
- Regulatory uncertainty: OTC-listed companies may be subject to less stringent regulatory oversight compared to exchange-listed companies.
- Potential for fraud: The OTC market has a higher risk of fraudulent activity due to the lower barriers to entry.
- Verify the company's registration and regulatory filings.
- Review available financial statements and assess the company's financial health.
- Research the company's management team and their track record.
- Analyze the company's business model and competitive landscape.
- Assess the liquidity of the stock and the potential for price volatility.
- Understand the risks associated with investing in OTC-listed companies.
- Established business operations: RaySearch has been operating since 2000 and has a track record of developing and marketing software solutions for cancer treatment.
- Partnerships with leading cancer centers: The company has established partnerships with leading cancer centers and hospitals, indicating credibility and acceptance in the medical community.
- Global presence: RaySearch operates globally, with offices in Europe, North America, and Asia, suggesting a solid business foundation.
- CEO with relevant expertise: Johan Löf, the CEO, has a Ph.D. in Medical Radiation Physics and has extensive experience in the field.
RaySearch Laboratories AB (publ) Healthcare Stock: Key Questions Answered
What does RaySearch Laboratories AB (publ) do?
RaySearch Laboratories AB (publ) develops and markets advanced software solutions for cancer treatment, with a primary focus on radiation therapy planning. Its flagship product, RayStation, is a comprehensive treatment planning system used by cancer centers and hospitals worldwide to optimize radiation therapy for cancer patients. The company also offers RayCare, an oncology information system designed to streamline the entire cancer treatment workflow, and RayCommand, a treatment control system. RayIntelligence, a cloud-based oncology analytics system, was later added to turn patient data into insights. RaySearch's products are designed to improve the accuracy, efficiency, and effectiveness of cancer treatment, ultimately leading to better patient outcomes.
What are the main risks for RSLBF?
RaySearch Laboratories faces several risks, including competition from established players in the medical technology industry, regulatory hurdles associated with medical software development, and the potential for technological obsolescence due to rapid advancements in cancer treatment technologies. The company is also dependent on a few key products for revenue generation, which could make it vulnerable to changes in market demand or technological disruptions. Furthermore, as an OTC-listed company, RSLBF faces additional risks related to liquidity, financial disclosure, and regulatory oversight.
What are the key factors to evaluate for RSLBF?
RaySearch Laboratories AB (publ) (RSLBF) holds an AI score of 57/100 (moderate). P/E: 31.8x vs the S&P 500's ~20-25x. Not financial advice.
How frequently does RSLBF data refresh on this page?
RSLBF prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven RSLBF's recent stock price performance?
RaySearch Laboratories AB (publ) (RSLBF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Innovative software solutions for cancer treatment. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider RSLBF overvalued or undervalued right now?
RaySearch Laboratories AB (publ) (RSLBF) trades at 31.8x earnings. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying RSLBF?
Before investing in RaySearch Laboratories AB (publ) (RSLBF), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Why might investors consider adding RSLBF to a portfolio?
Key strength of RaySearch Laboratories AB (publ) (RSLBF): Innovative software solutions for cancer treatment. Weigh rewards against risks and diversify. Not financial advice.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- AI analysis pending for RSLBF, so analyst consensus is not available.
- OTC market investments carry additional risks.