Q2 2023 Photocure ASA Earnings Call Transcript
Well, good morning, good afternoon, everyone. This is Dan Schneider, President and CEO of Photocure. With me today is Erik Dahl, our Chief Financial Officer; and David Moskowitz, our Vice President of Investor Relations. Welcome to Photocure ASA's Second Quarter 2023 Results. Just a reminder, usual disclaimers are in effect for today's presentation.
All right. So if you recall on our earnings call in Q1, we discussed 2 headwinds heading into Q2. The expected phase down of flex BLC, Blue Light Cystoscopy, and the difficult year-over-year comparison, primarily the German hospital stocking that occurred last year in front of the price increase in the European business and also the snapback from the Omicron phase of COVID. So keep that in mind, I think the overall results were good and despite those headwinds, we had 16% revenue growth in Q2 with positive EBITDA from our commercial operations.
Importantly, on a sequential basis, both our North American and European businesses grew off a strong quarter that we reported in Q1. Sequentially
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