| In thousands of euro | Devices | Software | Group Admin | Group, Total |
| External revenue | 5,326 | 9,714 | 0 | 15,040 |
| Net operating expenses | -2,548 | -2,825 | 9 | -5,364 |
| Margin | 2,778 | 6,889 | 9 | 9,676 |
| Depreciation and amortization | -1,670 | -819 | -9 | -2,499 |
| Other expenses | -4,451 | -4,992 | -3,692 | -13,135 |
| Operating result | -3,343 | 1,078 | -3,692 | -5,957 |
| Finance items | 0 | 0 | 441 | 441 |
| Loss before tax expense | -3,343 | 1,078 | -3,250 | -5,516 |
| Segment assets | 10,338 | 8,225 | 231 | 18,794 |
| Capital expenditure | 1,424 | 496 | 56 | 1,975 |
| Segment liabilities | 557 | 412 | 239 | 1,208 |
| In thousands of euro | Devices | Software | Group Admin | Group, Total |
| External revenue | 5,009 | 10,091 | 0 | 15,100 |
| Net operating expenses | -2,062 | -2,745 | 0 | -4,807 |
| Margin | 2,947 | 7,346 | 0 | 10,292 |
| Depreciation and amortization | -1,444 | -740 | -9 | -2,193 |
| Other expenses | -4,210 | -4,717 | -3,146 | -12,074 |
| Operating result | -2,707 | 1,889 | -3,155 | -3,974 |
| Finance items | 0 | 0 | -545 | -545 |
| Loss before tax expense | -2,707 | 1,889 | -3,701 | -4,519 |
| Segment assets | 11,024 | 8,369 | 241 | 19,635 |
| Capital expenditure | 1,520 | 634 | 53 | 2,208 |
| Segment liabilities | 189 | 618 | 192 | 999 |
| In thousands of euro | 2024 | 2023 |
| Finland | 15,661 | 15,560 |
| Rest of the Europe | 0 | 0 |
| Rest of the World | 411 | 368 |
| Total | 16,073 | 15,928 |
| In thousands of euro | 2024 | 2023 | ||
| Finland | 9,340 | 62% | 9,643 | 64 % |
| Rest of the Europe | 1,034 | 7% | 1,870 | 12% |
| Rest of the World | 4,667 | 31% | 3,586 | 24% |
| Total | 15,040 | 100% | 15,100 | 100% |
| In thousands of euro | 2024 | 2023 | ||
| Products and services | ||||
| transferred at a point | 10,405 | 69 % | 10,594 | 70 % |
| in time | ||||
| Services transferred | 4,635 | 31 % | 4,506 | 30 % |
| over time | ||||
| Total | 15,040 | 15,100 |
| In thousands of euro | 2024 | 2023 |
| Other operating income | 10 | 49 |
| Total | 10 | 49 |
| In thousands of euro | 2024 | 2023 |
| Purchase expenses | -5,570 | -4,370 |
| Change in inventories (increase (+), | 679 | -26 |
| decrease (-)) | ||
| External services | -483 | -460 |
| Total | -5,374 | -4,857 |
| In thousands of euro | 31.12.2024 | 31.12.2023 |
| Trade receivables | 2 411 | 2 583 |
| Assets related to customer | 2 411 | 2 583 |
| contracts | ||
| Advances received | 98 | 72 |
| Deferred Revenue | 305 | 218 |
| Liabilities related to customer | 402 | 290 |
| contracts |
| In thousands of euro | 2024 | 2023 |
| Wages and salaries | -7,335 | -7,287 |
| Contributions to defined contribution | -1,024 | -1,016 |
| post-employment plans | ||
| Other social security expenses | -190 | -260 |
| Share-based payment plans | -382 | -137 |
| Total | -8,931 | -8,699 |
| 2024 | 2023 | |
| Average number of employees for | 112 | 114 |
| the financial year |
| Plan | 2015 | 2017 | 2017B | 2018C | 2019A |
| Maximum number of options | 250,000 | 210,000 | 58,000 | 266,000 | 84,000 |
| Number of options issued | 250,000 | 210,000 | 58,000 | 266,000 | 84,000 |
| Issued | 2015-2018 | 2017 | 2017 | 2018 | 2019 |
| Vesting period | 2015 - 2020 | 2017 - 2020 | 2017 - 2020 | 2018 - 2021 | 2019 - 2021 |
| Vesting condition | Employment | Employment | Employment | Employment | Employment |
| Option subscription price | 3.50 | 3.50 | 3.50 | 3.50 | 3.50 |
| Fair value at grant date | 2.25 | 2.17 | 2.09 | 2.09 | 2.09 |
| Total fair value (1,000 EUR) | 562 | 455 | 121 | 556 | 175 |
| Plan | 2019B | 2019C | 2022A | 2024A | |
| Maximum number of options | 100,000 | 20,000 | 250 000 | 300 000 | |
| Number of options issued | 100,000 | 20,000 | 250,000 | 237,500 | |
| Issued | 2019 | 2019 | 2022 | 2024 | |
| Vesting period | 2019 - 2020 | 2019 - 2020 | 2022 - 2026 | 2024 - 2028 | |
| Vesting condition | Employment | Employment | Employment | Employment | |
| Option subscription price | 3.50 | 3.50 | 4.17 | 4,62 | |
| Fair value at grant date | 2.02-2.09 | 2.02 | 1.771 | 2,11 | |
| Total fair value (1,000 EUR) | 205 | 40 | 443 | 632 |
| Pieces | 2024 | 2023 |
| Outstanding at January 1 | 890,000 | 903,600 |
| Granted during the year | 343,000 | - |
| Forfeited during the year | -3,000 | -8,100 |
| Exercised during the year | -373,400 | -5,500 |
| Expired during the year | -120,000 | - |
| Outstanding at December 31 | 736,600 | 890,000 |
| Exercisable at December 31 | 249,100 | 742,500 |
| In thousands of euro | 2024 | 2023 |
| Equity-settled share-based payments | -382 | -137 |
| In thousands of euro | 2024 | 2023 |
| Travel expenses | -506 | -424 |
| Marketing expenses | -707 | -635 |
| IT expenses | -416 | -403 |
| Office expenses | -147 | -161 |
| Other administrative expenses | -1,216 | -813 |
| Research and development expenses | -297 | -230 |
| Credit loss accrual | 794 | -206 |
| Other fixed expenses | -1,708 | -502 |
| Total | -4,204 | -3,374 |
| In thousands of euro | 2024 | 2023 |
| Audit fees | -146 | -160 |
| Other services | -2 | 0 |
| Total | -149 | -160 |
| In thousands of euro | 2024 | 2023 |
| Intangible assets | ||
| Development costs | -1,241 | -920 |
| Customer relationships | -222 | -222 |
| Technology | -102 | -102 |
| Other intangible assets | -72 | -87 |
| Total | -1,636 | -1,331 |
| In thousands of euro | 2024 | 2023 |
| Tangible assets | ||
| Machinery and equipment | -349 | -355 |
| Total | -349 | -355 |
| Total depreciation and | -1,985 | -1,685 |
| amortization / owned assets |
| In thousands of euro | 2024 | 2023 |
| Foreign exchange gains | 657 | 422 |
| Interest income | 181 | 23 |
| Other finance income | 379 | 34 |
| Total | 1,217 | 479 |
| In thousands of euro | 2024 | 2023 |
| Foreign exchange losses | -162 | -736 |
| Interest expenses | -156 | -204 |
| Other finance expenses | -458 | -84 |
| Total | -776 | -1,024 |
| Net finance expenses | 441 | -545 |
| In thousands of euro | 2024 | 2023 |
| Current tax for the reporting year | 0 | 0 |
| Current tax adjustments for prior years | 0 | 0 |
| Change in deferred taxes | 66 | 79 |
| Total | 66 | 79 |
| In thousand euros | 2024 | 2023 |
| Profit before income tax | -5,516 | -4,519 |
| Tax using the Finnish corporate | 1,103 | 904 |
| tax rate (20 %) | ||
| Effect of tax rate in foreign | 36 | 38 |
| jurisdictions | ||
| Unrecognised deferred tax assets | -727 | -550 |
| on taxable losses | ||
| Non-deductible expenses | -27 | -17 |
| Share option expense | -76 | -27 |
| Depreciation and amortisation | -312 | -264 |
| not deducted for tax purposes | ||
| Consolidation-related adjustments | 69 | -4 |
| Taxes in the income statement | 66 | 79 |
| At Jan 1, | Business | Recognised | Recognised | Exchange | At Dec 31, | |
| In thousands of euro | 2024 | combinations | through | in equity | differences and | 2024 |
| profit or loss | other changes | |||||
| Deferred tax assets, | ||||||
| Lease liabilities | 318 | -14 | 304 | |||
| Right-of-use assets | -294 | 3 | -291 | |||
| Total | 24 | -11 | 12 | |||
| Deferred tax liabilities, | ||||||
| PPA Intangible assets | -275 | 65 | -210 | |||
| Development costs | -35 | 12 | -23 | |||
| Total | -310 | 76 | -234 | |||
| Total deferred tax assets | -288 | 66 | -221 | |||
| and deferred tax liabilities |
| At Jan 1, | Business | Recognised | Recognised | Exchange | At Dec 31, | |
| In thousands of euro | 2023 | combinations | through | in equity | differences and | 2023 |
| profit or loss | other changes | |||||
| Deferred tax assets | ||||||
| Lease liabilities | 306 | 7 | 318 | |||
| Right-of-use assets | -290 | -5 | 5 | -294 | ||
| Total | 16 | 3 | 5 | 24 | ||
| Deferred tax liabilities, | ||||||
| PPA Intangible assets | -340 | 65 | -275 | |||
| Development costs | -47 | 12 | -35 | |||
| Total | -387 | 76 | -310 | |||
| Total deferred tax assets | -371 | 79 | 5 | -288 | ||
| and deferred tax liabilities |
| In thousands of euro | Dec 31, 2024 | Dec 31, 2023 |
| T a x l o s s e s a p p r o v e d b y t a x a u t h o r i t i e s | 9,876 | 7,940 |
| Depreciation and amortization not | 11,592 | 10,424 |
| deducted for tax purposes |
| 2024 | 2023 | |
| Loss attributable to owners of the | -5,450 | -4,441 |
| parent company (in thousands of euro) | ||
| Weighted average number of | ||
| shares outstanding during the | 18,675,167 | 16,706,508 |
| financial year (pcs) | ||
| Basic loss per share (EUR/share) | -0.29 | -0.27 |
| Develop- | Customer | Other | ||||
| In thousands of euro | Goodwill | ment costs | relationships | Technology | intangible | Total |
| assets | ||||||
| Cost | ||||||
| Balance at January 1 | 4,256 | 16,067 | 2,222 | 1,023 | 1,147 | 24,715 |
| Additions | 1,797 | 58 | 1,855 | |||
| Balance at December 31 | 4,256 | 17,864 | 2,222 | 1,023 | 1,205 | 26,570 |
| Accumulated amortization and impairment losse | ||||||
| Balance at January 1 | -8,336 | -1,280 | -590 | -763 | -10,969 | |
| Amortization | -1,049 | -221 | -102 | -72 | -1,445 | |
| Impairment losses | -191 | -191 | ||||
| Balance at December 31 | -9,576 | -1,501 | -692 | -835 | -12,605 | |
| Carrying amount at Jan 1 | 4,256 | 7,731 | 942 | 433 | 384 | 13,746 |
| Carrying amount at Dec 31 | 4,256 | 8,288 | 721 | 331 | 370 | 13,965 |
| Develop- | Customer | Other | ||||
| In thousands of euro | Goodwill | ment costs | relationships | Technology | intangible | Total |
| assets | ||||||
| Cost | ||||||
| Balance at January 1 | 4,256 | 13,978 | 2,222 | 1,023 | 1,054 | 22,533 |
| Additions | 2,089 | 93 | 2,182 | |||
| Balance at December 31 | 4 ,256 | 16,067 | 2,222 | 1,023 | 1,147 | 24,715 |
| Accumulated amortization and impairment losses | ||||||
| Balance at January 1 | -7,416 | -1,057 | -489 | -676 | -9,638 | |
| Amortization | -920 | -223 | -101 | -66 | -1,311 | |
| Impairment losses | -21 | -21 | ||||
| Balance at December 31 | -8,336 | -1,280 | -590 | -763 | -10,969 | |
| Carrying amount at Jan 1 | 4,256 | 6,562 | 1,164 | 534 | 379 | 12,895 |
| Carrying amount at Dec 31 | 4,256 | 7,731 | 942 | 433 | 384 | 13,746 |
| Machinery and equipment | ||
| In thousands of euro | 2024 | 2023 |
| Cost | ||
| Balance at January 1 | 3,724 | 3,512 |
| Additions | 292 | 212 |
| Balance at December 31 | 4,016 | 3,724 |
| Accumulated depreciation | ||
| and impairment losses | ||
| Balance at January 1 | -3,015 | -2,660 |
| Depreciation | -349 | -355 |
| Balance at December 31 | -3,364 | -3,015 |
| Carrying amount at January 1 | 710 | 852 |
| Carrying amount at December 31 | 652 | 710 |
| In thousands of euro | 2024 | 2023 |
| Expense relating to leases of low-value | -5 | -4 |
| assets1 (that are not short-term leases) | ||
| Depreciation charge for right-of-use assets by | ||
| class of underlying asset (business premises,- | -514 | -508 |
| cars) (included in Depreciation, amortization and | ||
| impairment losses in the income statement) | ||
| Interest expense on lease liabilities | -51 | -42 |
| (included in Finance expenses) |
| In thousands of euro | 2024 | 2023 |
| Total cash outflow for leases | -494 | -462 |
| In thousands of euro | Business premises | Cars | Total |
| 1.1.2024 | 1,419 | 53 | 1,472 |
| Additions | 498 | 0 | 498 |
| Depreciation | -493 | -21 | -514 |
| 31.12.2024 | 1,424 | 32 | 1,456 |
| In thousands of euro | Business premises | Cars | Total |
| 1.1.2023 | 1,448 | 0 | 1,448 |
| Additions | 470 | 62 | 532 |
| Depreciation | -499 | -9 | -508 |
| 31.12.2023 | 1,419 | 53 | 1,472 |
| In thousands of euro | 2024 | 2023 |
| Current | 495 | 516 |
| Non-current | 1,017 | 991 |
| Total | 1,512 | 1,507 |
| In thousands of euro | 2024 | 2023 |
| Raw materials and consumables | 1,961 | 2,820 |
| Total | 1,961 | 2,820 |
| In thousands of euro | 2024 | 2023 |
| Prepayments and accrued income | 716 | 511 |
| Other | 140 | 96 |
| Total | 857 | 607 |
| In thousands of euro | Note | 2024 | 2023 |
| Trade receivables | |||
| Other trade receivables | 21 | 2,411 | 2,583 |
| Total trade receivables | 2,411 | 2,583 | |
| Cash and cash equivalents | 10,467 | 7,118 | |
| Total | 12,878 | 9,701 |
| In thousands of euro | 2024 | 2023 |
| Cash and bank accounts | 10,467 | 7,118 |
| Total | 10,467 | 7,118 |
| 2024 | ||||
| Pieces | In thousands of euro | |||
| A series | Total | Share capital | Reserve for invested | |
| non-restricted equity | ||||
| At January 1, 2024 | 18,130,397 | 18,130,397 | 80 | 50,936 |
| Share issue 1.7.2024 | 1,500,000 | 1,500,000 | 7,322 | |
| Additions to Reserve for Invested non-equity based on option | 62,900 | 62,900 | 1,350 | |
| subscription and board share fee. | ||||
| At Dec 31, 2023 | 19,693,297 | 19,693,297 | 80 | 59,608 |
| 2023 | ||||
| Pieces | In thousands of euro | |||
| A series | Total | Share capital | Reserve for invested | |
| non- restricted equity | ||||
| At January 1, 2023 | 16,541,355 | 16,541,355 | 80 | 46,896 |
| Share issue 25.9.2023 | 1,589,042 | 1,589,042 | 3,973 | |
| Additions to Reserve for Invested non-equity based on option | 67 | |||
| subscription and board share fee. | ||||
| At Dec 31, 2023 | 18,130,397 | 18,130,397 | 80 | 50,936 |
| In thousands of euro | 2024 | 2023 |
| Non-current financial liabilities | ||
| Borrowings from financial institutions | 790 | 1,651 |
| Government loans | 521 | 713 |
| Lease liabilities | 1,017 | 991 |
| Total | 2,328 | 3,355 |
| Current financial liabilities | ||
| Borrowings from financial institutions | 794 | 794 |
| Government loans | 193 | 193 |
| Lease liabilities | 495 | 516 |
| Trade payables | 891 | 782 |
| Total | 2,373 | 2,285 |
| Total financial liabilities | 4,700 | 5,640 |
| Covenant | Actual | Applicable level | |
| term | ratio | ||
| OP loan | |||
| Equity ratio | |||
| At December 31, 2024 | 35% | 87.1% | Optomed Group |
| At December 31, 2023 | 35% | 83.1% | Optomed Group |
| In thousands of euro | 2024 | 2023 |
| Accrued expenses and prepaid income | 2,356 | 1,962 |
| Other | 854 | 805 |
| Total | 3,210 | 2,767 |
| In thousands of euro | USD | CNY |
| At December 31, 2024 | ||
| Gross trade receivables | 1274 | 0 |
| Trade payables | 283 | 0 |
| Total | 1,558 | 0 |
| At December 31, 2023 | ||
| Gross trade receivables | 334 | 1,534 |
| Trade payables | 211 | 0 |
| Total | 544 | 1,534 |
| Income statement | ||
| In thousands of euro | strenghtening | weakening |
| At December 31, 2024 | ||
| Gross trade receivables | ||
| +/- 10 % change in USD | 127 | -127 |
| +/- 10 % change in CNY | 0 | 0 |
| Trade payables | ||
| +/- 10 % change in USD | -28 | 28 |
| +/- 10 % change in CNY | 0 | 0 |
| Total net effect | 99 | -99 |
| In thousands of euro | strenghtening | weakening |
| At December 31, 2023 | ||
| Gross trade receivables | ||
| +/- 10 % change in USD | 33 | -33 |
| +/- 10 % change in CNY | 153 | -153 |
| Trade payables | ||
| +/- 10 % change in USD | -21 | 21 |
| +/- 10 % change in CNY | 0 | 0 |
| Total net effect | 166 | -166 |
| Average rate | Closing rate | Average rate | Closing rate | |
| 2024 | 2024 | 2023 | 2023 | |
| EUR/USD | 0.92 | 0.96 | 0.94 | 0.91 |
| EUR/CNY | 0.13 | 0.13 | 0.13 | 0.13 |
| Income Statement | ||
| In thousands of euro | 100 bps change | 300 bps increase |
| At December 31, 2024 | ||
| Borrowings from financial institutions | +6,-6 | |
| Government loans | 33 | |
| At December 31, 2023 | ||
| Borrowings from financial institutions | +14,-14 | |
| Government loans | 35 | |
| Carrying amount | ||
| In thousands of euro | 2024 | 2023 |
| Gross trade receivables from companies | ||
| Finland | 1,063 | 1,129 |
| Rest of the Europe | 85 | 51 |
| Rest of the World | 1,278 | 2,212 |
| Total | 2,427 | 3,392 |
| In thousands of euro | Gross carrying | Weighted av. | Loss |
| amount | loss rate % | allowance | |
| At December 31, 2024 | |||
| Current (not past due) | 2,314 | 0.5% | 12 |
| Past due | |||
| 1-30 days | 67 | 1.5% | 1 |
| 31-60 days | 31 | 4% | 1 |
| 61-90 days | 9 | 9% | 1 |
| More than 90 | 6 | 12% | 1 |
| days past due | |||
| Specific loss allowance | 0 | 100% | 0 |
| Total | 2,427 | 15 |
| In thousands of euro | Gross carrying | Weighted av. | Loss |
| amount | loss rate % | allowance | |
| At December 31, 2023 | |||
| Current (not past due) | 1,516 | 0.5% | 8 |
| Past due | |||
| 1-30 days | 51 | 1.5% | 1 |
| 31-60 days | 6 | 4% | 0 |
| 61-90 days | 10 | 9% | 1 |
| More than 90 | 277 | 12% | 33 |
| days past due | |||
| Specific loss allowance | 1,534 | 50% | 767 |
| Total | 3,392 | 809 |
| In thousands of euro | 2024 | 2023 |
| Balance at January 1 | 809 | 604 |
| Net remeasurement of loss allowance | -794 | 206 |
| Balance at December 31 | 15 | 809 |
| In thousands of euro | Total | 0-3 months | 3-12 months | 2-3 years | 4-5 years | Over 5 years |
| At December 31, 2024 | ||||||
| Borrowings from financial institutions | 1,682 | 217 | 636 | 829 | - | |
| Government loans | 752 | 34 | 166 | 277 | 205 | 71 |
| Lease liabilities | 1,512 | 124 | 371 | 1,017 | ||
| Trade payables | 891 | 891 | ||||
| Total | 4,838 | 1,265 | 1,174 | 2,124 | 205 | 71 |
| In thousands of euro | Total | 0-3 months | 3-12 months | 2-3 years | 4-5 years | Over 5 years |
| At December 31, 2023 | ||||||
| Borrowings from financial institutions | 2,444 | 199 | 596 | 1,631 | 19 | |
| Government loans | 906 | 32 | 161 | 342 | 210 | 161 |
| Lease liabilities | 1,559 | 129 | 387 | 1,043 | ||
| Trade payables | 782 | 782 | ||||
| Total | 5,691 | 1,142 | 1,143 | 3,016 | 229 | 161 |
| In thousands of euro | 2024 | 2023 |
| Liabilities secured under company | ||
| mortgages given by Optomed1 | ||
| Borrowings from financial institutions, current | 987 | 987 |
| Borrowings from financial institutions, non-current | 1,310 | 2,364 |
| Total | 2,297 | 3,351 |
| Collaterals given by collateral type | ||
| Borrowings from financial institutions, | 8,700 | 8,700 |
| company mortgages given | ||
| Other collaterals given | 800 | 800 |
| Total | 9,500 | 9,500 |
| In thousands of euro | 2024 | 2023 |
| CEO Seppo Kopsala (until 9/2023) | ||
| Salaries and other short-term employee benefits | 0 | -98 |
| Pension benefits (defined contribution plans) | 0 | -20 |
| Paid resignation fee | -58 | -38 |
| Total | -58 | -156 |
| CEO Juho HImberg (From 10/2023) | ||
| Salaries and other short-term employee benefits | -211 | -52 |
| Pension benefits (defined contribution plans) | -43 | -12 |
| Share-based payments | -152 | 0 |
| Total | -406 | -63 |
| In thousands of euro | 2024 | 2023 |
| Group Management Team | ||
| Salaries and other short-term employee benefits | -547 | -377 |
| Pension benefits (defined contribution plans) | -80 | -81 |
| Share-based payments | -144 | -52 |
| Total | -771 | -509 |
| In thousands of euro | 2024 | 2023 |
| Key management personnel | ||
| Salaries and other short-term employee benefits | -757 | -527 |
| Pension benefits (defined contribution plans) | -123 | -113 |
| Paid resignation fee | -58 | -38 |
| Share-based payments | -296 | -52 |
| Total | -1,235 | -729 |
| In thousands of euro | Revenues | Trade | Other |
| receivables | expenses | ||
| 2024 | 0 | 0 | -92 |
| 2023 | 0 | 0 | -78 |
| Subsidiary | Domicile | Ownership | |
| interest, % | |||
| Optomed Software Oy | Finland | 100 | |
| Optomed Hong Kong Ltd. | Hong Kong | 100 | |
| Optomed China Ltd | China | 100 | |
| Optomed USA Inc | USA | 100 |