ARCOMANasdaq StockholmMedical DevicesIFRS · SEK

Arcoma

Arcoma AB is a Swedish medical technology company that develops and manufactures digital X-ray systems for hospitals, clinics, and other radiology users. Its products combine digital imaging, movable positioning systems, and Scandinavian design into complete radiography solutions sold through partners, OEM customers, and distributors across global markets.

Ask about the company
Revenue131m SEK
−16.6 %y/y
Operating profit (EBIT)6.2m SEK
−49.6 %y/y
EBIT margin4.8%
−3.1 ppy/y
Net income5.0m SEK
−8.1 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-50050100150200m SEK2021: 117 m SEK2021: EBIT -8.6 m SEK20212022: 125 m SEK2022: EBIT -8.6 m SEK20222023: 163 m SEK2023: EBIT 4.0 m SEK20232024: 157 m SEK2024: EBIT 12 m SEK20242025: 131 m SEK2025: EBIT 6.2 m SEK2025TTM 2026: EBIT 5.8 m SEKTTM5.8
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year
Ask Clarifo about Arcoma

Business

Share of revenue
Digital radiography systems85 %

Integrated X-ray systems for conventional radiography and DR rooms.

OEM and partner-branded systems10 %

Systems sold through partners under their own brand or via OEM channels.

Service and support5 %

Customer support, installation-related services, and after-sales assistance.

Customers

Arcoma sells primarily to partners and geographic distributors, who then place the systems with end customers. The end users are hospitals, radiology departments, clinics, orthopedic practices, sports medicine facilities, and emergency departments that need conventional X-ray capability.

Partners / OEM customers

Buy systems for resale under partner branding or as OEM solutions.

Geographic distributors

Buy Arcoma-branded systems for local market distribution and sales.

Hospitals

Buy DR rooms and radiography systems for core radiology workflows.

Specialty clinics

Buy imaging systems for orthopedic, sports medicine, and similar uses.

Emergency departments

Buy fast-access radiography systems for urgent diagnostic workflows.

Strategy

Arcoma’s strategy centers on premium digital radiography products, close partner relationships, and a service model that supports long-term customer retention. The company also emphasizes market expansion, active portfolio management, and cost-efficient processes to strengthen its position in global radiography markets.

Premium product developmentMedium term

Differentiated imaging quality and ergonomics support pricing power and customer loyalty.

Partner-led market expansionMedium term

Distributors and OEM partners extend reach without building a large direct-sales footprint.

Customer service and supportShort term

Radiology equipment buyers value uptime, installation quality, and after-sales support.

Portfolio and process disciplineMedium term

Active portfolio management and efficient processes help protect margins and execution quality.

Geography

Arcoma operates globally and reports sales across Europe, the Americas, and Asia, with products sold in more than 30 countries. The company’s installed base exceeds 3,500 systems worldwide, and its market exposure is tied to healthcare spending and radiology investment across these regions.

Risks

Arcoma is exposed to supplier dependence, competitive pressure, and cyclical healthcare purchasing behavior, all of which can affect order timing and market share. Because the business relies on a global partner network and internationally sourced components, disruptions in supply, quality, or demand can quickly affect delivery performance and revenue conversion.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Supplier and manufacturing dependence1Competitive pressure2Healthcare spending cyclicality3Geographic exposure to Europe and the Americas4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Supplier and manufacturing dependenceImpact: HighLikelihood: Medium

    The company relies on external suppliers and manufacturers for components and production capacity.

    Exposure: Global supply chain and quality control

  2. Competitive pressureImpact: HighLikelihood: Medium

    Larger or adjacent imaging companies may target the same radiography niche and reduce sales.

    Exposure: Digital radiography systems

  3. Healthcare spending cyclicalityImpact: MediumLikelihood: Medium

    Hospital and clinic investment decisions can slow in weak macro or budget environments.

    Exposure: Radiology equipment demand

  4. Geographic exposure to Europe and the AmericasImpact: MediumLikelihood: Low

    Revenue concentration in a few regions makes performance sensitive to regional demand shifts.

    ExposureEuropeAmericas
Ask Clarifo about Arcoma

Accounting

Judgemental items
Revenue recognition timing

Product sales are recognized when risks and rewards transfer, so shipment timing affects quarterly revenue.

Impact: Quarterly comparability and order-to-revenue conversion

Capitalized development costs

Development spending is capitalized and amortized, affecting both EBITDA and reported profit over time.

Impact: Earnings timing and asset base

Goodwill impairment

Goodwill is tested annually and could be written down if expected cash flows weaken.

Impact: Non-cash impairment risk

Intangible asset amortization

Amortization of technology-related assets can materially affect operating profit.

Impact: Reported margin and net income

Similar listed companies

Publicly listed companies with a comparable business focus.

Arcellx, Inc.

Biological Products, (No Diagnostic Substances)

Nano-X Imaging Ltd.

NNOX · X-Ray Apparatus & Tubes & Related Irradiation Apparatus

Asker Healthcare Group

ASKER · Health Care

RadNet, Inc.

RDNT · Services-Medical Laboratories

Arjo

ARJO-B · Health Care

Elekta B

EKTA-B · Health Care

Last updated: 24/09/2026

Arcoma Revenue, Earnings & Financials 2025 – Clarifo