Annual rank26
Sweden · Healthcare
RaySearch Laboratories
RaySearch develops cancer-treatment software for treatment planning, oncology information, oncology analytics and treatment control.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
Software that connects the radiation-oncology workflow
RaySearch Laboratories is a Stockholm medical-software company whose systems span the radiation-oncology workflow: RayStation designs treatment plans, RayCare coordinates clinical operations, RayCommand connects software with treatment-room hardware and RayIntelligence analyses oncology data. The products are designed to work across different treatment machines and modalities rather than around one hardware platform, and are deployed through direct offices, distributors and collaborations with cancer centres.
Connected oncology workflow
Four systems link planning, operations, delivery and learning
RayStation designs radiotherapy plans. RayCare manages patient charts, tasks, scheduling, images and treatment workflows. RayCommand orchestrates imaging, beam-delivery and patient-support equipment in particle-treatment rooms, while RayIntelligence benchmarks plans and tracks device use and AI-model performance.
- RayStation Treatment planning across machines and radiation modalities
- RayCare Patient information, scheduling, imaging and oncology workflows
- RayCommand The control layer between clinical software and treatment hardware
- RayIntelligence Plan benchmarking, device utilisation and AI monitoring
- ▶ VideoWatch: RayCare An English film explaining the oncology information system
Planning science
One planner supports photons, particles and changing anatomy
RayStation covers external-beam photons and electrons as well as proton, helium and carbon-ion planning. Plan Explorer and ECHO compare plan alternatives; deep-learning models segment anatomy and predict dose; adaptive modules accumulate delivered dose and support re-planning when anatomy changes.
- Automated planning Plan Explorer, ECHO, scripting and plan-generating protocols
- Machine learning Deep-learning segmentation and dose-prediction models
- Adaptive therapy Daily imaging, dose tracking, registration and re-planning
- RayStation v2026 Reirradiation, quality assurance and expanded automation
- ▶ VideoWatch: proton planning RaySearch's English technical film on proton workflows
Real clinical workflows
Different centres use the software for different bottlenecks
Belgium's Iridium Network describes automation across a dispersed radiotherapy service and, in May 2026, connected RayStation and RayCare with an installed Varian TrueBeam for online adaptive treatment. Ålesund Hospital used scripting alongside VMAT, while Auckland City Hospital built routine assessment and re-planning into a large adaptive programme.
- Iridium automation Scripting, AI-supported contouring and plan generation in Belgium
- Online adaptive on TrueBeam RayStation and RayCare connected to an installed linear accelerator
- Ålesund Hospital VMAT deployment and clinic-specific RayStation scripts
- Auckland City Hospital A protocol-based, large-scale adaptive-therapy workflow
Research roots and commercial reach
A Karolinska spin-off sold through offices and distributors
Founded in 2000 from Karolinska Institutet research, RaySearch develops its software at its Stockholm headquarters. The 2025 annual report records more than 1,200 customer clinics in 51 countries, supported by 13 offices and 19 distributors; revenue comes chiefly from software licences and ongoing support, alongside hardware, training and related services.
- About RaySearch Origins, products and the company's research-led mission
- 2025 annual report Customer footprint, distribution network and revenue model
- Global offices Local teams across Europe, the Americas and Asia-Pacific
- ▶ VideoWatch: the RaySearch story The issuer's English-subtitled company film
Official profile sources: RayStation — Comprehensive cancer treatment planning · Preliminary results for the second quarter of 2026
Current 2026 update
What has changed in 2026?
Q2 2026 · 16 July 2026
Q2 2026latest official update
3company-specific highlights
−24%2026 stock return · context only
Revenue
Preliminary Q2 net sales fell to SEK 272m from SEK 305m.
Operating profit
Preliminary Q2 operating profit fell to SEK 28m from SEK 36m.
Order intake
Q2 order intake rose to SEK 296m from SEK 241m.
Official 2026 sources: Preliminary results for the second quarter of 2026 · 16 July 2026
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 26 | +64% | +888% | +244% |