Swedish image enhancement software developer ContextVision said its third-quarter 2022 revenues dipped compared with last year, but overall growth for the first nine months of 2022 rose 23%.
The company's third quarter (end-September 30) revenues came in at 26.9 million Swedish krona ($2.4 million U.S.) compared with 26 krona ($2.32 million) in the same quarter last year, down 3%.
ContextVision's overall revenues came in at 86.6 krona ($7.7 million U.S.) compared with 70.7 krona ($6.3 million U.S.) last year, resulting in an overall growth increase of 23% for the first nine months of 2022, the company said.
In addition, the company's nine-month EBITDA was 38.1 krona ($3.4 million), compared with 38 krona last year, with its cash increasing to 40.6 krona ($3.6 million U.S.) at the end of the quarter. The growth in Q3 mainly resulted from strong Asian suppliers and the continued success of its ultrasound 2D products, the company said.
