Lumito AB publishes interim report for the third quarter of 2025

Financial overview
Third quarter 2025, 1 July - 30 September
• Net sales amounted to 0 (0) KSEK, capitalised development contributed with 0 (418) KSEK
• The net loss amounted to -9 511 (-10 844) KSEK.
• Basic and diluted earnings per share amounted to -0.04 (-0.05) SEK.
• Cash flow during the third quarter amounted to -3 084 (-6 156) KSEK.
• Cash and cash equivalents at the end of the period amounted to 4 094 (26 170) KSEK.

Nine months 2025, 1 January – 30 September
• Net sales amounted to 0 (17) KSEK, capitalised development contributed with 0 (3 357) KSEK.
• Result after taxes amounted to -32 589 (-26 088) KSEK.
• Basic and diluted earnings per share amounted to -0.12 (-0.12) SEK.
• Cash flow during the period amounted to -17 498 (-3 716) KSEK.
• Cash and cash equivalents at the end of the period amounted to 4 094 (26 170) KSEK.

Financial development
Third Quarter 2025
Net sales for the third quarter of 2025 amounted to 0 (0) KSEK.
Operating costs, including capitalised costs and depreciation, for the third quarter amounted to -8 974 (-10 464) KSEK.
During the third quarter of 2025, investments in intangible assets (patents and trademarks) amounted to 65 (156) KSEK, and capitalised development costs amounted to 0 (418) KSEK.
Operating income for the third quarter amounted to -8 873 (-9 839) KSEK, and the result after tax amounted to -9 511 (-10 844) KSEK.

First nine months 2025
Net sales and results
Net sales for the first nine months of 2025 amounted to 0 (17) KSEK.
Operating costs, including capitalised costs, for the first nine months amounted to 31 621 (27 572) KSEK. External costs decreased by 2 821 KSEK and personnel costs decreased by 2 639 KSEK compared with the corresponding period in 2024. Depreciation on intangible assets increased by 9 491 KSEK compared with the same period in 2024. The increase in depreciation is due to the Company’s first product, SCIZYS, being deemed completed in July 2024. The depreciation period is 5 years.
Investments in intangible assets (patents and trademarks) amounted to 321 (631) KSEK, and capitalised development costs amounted to 0 (3 357) KSEK.
Operating income for the period January–September 2025 amounted to -31 074 (-23 322) KSEK, and the result after tax amounted to -32 589 (-26 088) KSEK.

Cash flow
Cash flow from operating activities during the first nine months amounted to -17 124 (-21 814) KSEK. Total cash flow for the period amounted to -17 498 (3 716) KSEK. Last year’s total cash flow included a new share issue of 19 532 KSEK and the raising of loans of 10 000 KSEK.

Personnel
The average number of employees during the first nine months was 11 (13), of whom 3 (3) were women.

Investments, liquidity, and financial position
As of 30 September 2025, the cumulative book value of capitalised expenses for research and development amounted to 69 833 (88 455) KSEK. The amount relates to development work associated with the Company’s products. Depreciation commenced in the third quarter of 2024. The depreciation period is 5 years.
The book value of investments in the patent portfolio amounted to 2 577 (5 165) KSEK, most of which relates to investments in patents and patent applications associated with the Company’s products. Depreciation commenced in the third quarter of 2024.
Cash and cash equivalents at the balance sheet date amounted to 4 094 (26 170) KSEK.
Equity amounted to 58 222 (96 589) KSEK.
The equity ratio was 73 (79) percent.

Significant events during the third quarter 2025
25 July 2025
Lumito entered into a production and quality agreement with Optronic AB, a strategic partner with expertise in optical measurement systems. The agreement represents an important step towards scaling up production of SCIZYS S1 and lays the foundation for a long-term collaboration in production and product development.

13 August 2025
Concept Life Sciences completed the first phase of its evaluation of Lumito’s SCIZYS Erbium Kit and scanner with positive results. Lumito’s reagent kit for labelling (SCIZYS Erbium Kit) has been successfully integrated with a fully automated solution for laboratory staining, an important step towards broader use in the pharmaceutical and clinical research markets.

28 August 2025
Lumito and Truly Labs conducted a pilot study demonstrating promising results for Lumito’s SCIZYS technology. The next step was announced as validation with customer samples to enable future commercial testing.

9 September 2025
The Board of Lumito resolved to carry out a new issue of units of approximately MSEK 60 with preferential rights for existing shareholders, subject to shareholder approval. The issue was intended to strengthen the Company’s financial position and support the commercialisation of the SCIZYS product.

10 September 2025
Lumito joined as a new partner in the government-funded research project “Biobarriers – Health, Disorders and Healing”, led by Malmö University. The partnership strengthens the Company’s position in advanced tissue imaging and opens new opportunities for technology development and commercial growth.

18 September 2025
Lumito was selected for Business Sweden’s scale-up programme Catalyst 2025, aimed at Sweden’s most promising growth companies. Through the programme, the Company receives strategic support for its market entry in the United Kingdom, a key market for the SCIZYS platform.

Significant events after the end of the period

2 October 2025
Lumito announced participation at Biomarkers & Precision Medicine UK in the United Kingdom, a leading event focused on trends and innovation in biomarker research. Participation provided the Company with opportunities to engage with actors in pharmaceutical development and clinical research. The Company also announced its participation at NLSDays and Pharma Outsourcing.

3 October 2025
Lumito published a white paper demonstrating how SCIZYS can measure extremely low levels of the breast cancer marker HER2 with up to twelve times higher sensitivity than established methods. The results show that the technology can differentiate HER2-low from HER2-negative tissue, a distinction difficult to achieve with traditional techniques.

7 October 2025
Lumito published the terms for the upcoming new issue of shares.

10 October 2025
Notice of the Extraordinary General Meeting of Lumito was published. All resolutions were approved in accordance with the Board’s proposals. Complete information is available on the Company’s website.

13 October 2025
Lumito’s EU growth prospectus for the planned new issue was approved by the Swedish Financial Supervisory Authority (Finansinspektionen) and published on the Company’s website.

15 October 2025
Concept Life Sciences decided to include Lumito’s SCIZYS technology in its customer offering following a successful evaluation. The decision marked the start of a commercial phase in the collaboration, with the technology offered to customers in pharmaceutical development through a “scanning-as-a-service” model.

16 October 2025
The subscription period for Lumito’s preferential rights issue commenced.

17 October 2025
Lumito announced that CEO Sanna Wallenborg would participate in the Financial Stockholm event on 21 October 2025.

23 October 2025
Lumito signed a letter of intent with Katana Labs GmbH, formalising a strategic partnership to jointly commercialise a comprehensive, ultra-sensitive immunohistochemistry workflow in which Lumito’s labelling and scanning technology interacts with Katana Labs’ AI-driven image analysis platform.

29 October 2025
Truly Labs AB decided to include SCIZYS in its service offering to research and pharmaceutical customers. The decision was based on positive pilot results showing that SCIZYS provides more detailed and accurate analysis than traditional methods, strengthening both companies’ positions in preclinical research and pharmaceutical development.

3 November 2025
The Company announced the outcome of the completed preferential rights issue. The issue was subscribed, including subscription commitments and guarantee undertakings, for approximately MSEK 36, corresponding to a subscription rate of approximately 60 percent.

11 November 2025
The Board of Lumito resolved on a directed new issue of units to the guarantors of the recently completed preferential rights issue, in accordance with the guarantee agreements entered into in connection with the issue.

19 November 2025
Lumito announced that the issue has been registered and that BTUs will be traded until 24 November. The record date is 26 November, and the securities are expected to be booked on 28 November, when trading in TO7 will also commence.

21 November 2025
Lumito was granted a business development grant from Region Skåne of KSEK 250 to accelerate the Company’s commercial development and strengthen its position in the European market.

CEO’s Statement

Continued progress in the commercialisation of SCIZYS
During the third quarter of 2025, Lumito has continued to take important steps in the commercial establishment of our product platform SCIZYS and has strengthened our position as an innovative player in advanced tissue analysis. The period has been characterised by strategic collaborations, deepened dialogues with potential customers, and an increased market presence – all central elements of our long-term growth plan.

Breakthrough with Concept Life Sciences
Following the end of the quarter, we were pleased to announce that Concept Life Sciences, a leading UK-based contract research organisation (CRO), has decided to include our technology in its customer offering. Concept Life Sciences’ decision to integrate the SCIZYS Erbium Kit into its automated staining workflow makes our solution scalable and attractive for broader adoption by CROs and partners, thereby accelerating market uptake. The integration follows a successful development collaboration between Lumito and Concept Life Sciences and serves as clear validation of the strength of our technology and our collaboration-based commercialisation concept.

Successful collaboration with Truly Labs
At the same time, our collaboration with Truly Labs has progressed according to plan. The pilot study conducted demonstrated very promising results, and at the end of October we announced that Truly Labs has chosen to include SCIZYS in its offering to research and pharmaceutical customers. We assess that this will strengthen both Lumito’s and Truly Labs’ positions within preclinical research and drug development.

Scalable manufacturing secured through Optronic
We are leveraging our growth potential through a production and quality agreement with Optronic, which ensures an efficient and scalable manufacturing chain. Entering the manufacturing phase with an experienced and reliable partner is an important part of our commercialisation strategy.

Strategic support for international expansion
In parallel, Lumito was selected for Business Sweden’s Catalyst 2025 programme, providing strategic support for our market entry in the United Kingdom – a key region with significant potential in pharmaceutical research and CRO services. We have also strengthened our research foundation by becoming a partner in the government-funded project Biobarriers – Health, Disorders and Healing, contributing our expertise in digital tissue imaging.

Increased market presence and international visibility
During the autumn, we have also intensified our marketing efforts. Participation at Biomarkers & Precision Medicine UK in the United Kingdom provided valuable contacts and increased visibility and interest in our solution among leading stakeholders. In the final quarter of the year, we will also participate at Pharma Outsourcing in Stockholm and the 12th Digital Pathology & AI Congress in London, further enhancing our visibility in the Nordic and European markets.

Strengthened financial position for continued growth
To finance our continued commercialisation and further increase the value of our product offering, we carried out a preferential rights issue in October, through which approximately MSEK 36 was raised before deduction of issue costs and loan repayments. The issue strengthens our financial position and enables continued expansion as we reach more customers and partners. Subscription warrants were also issued in connection with the rights issue, which could provide Lumito with an additional approximately MSEK 30, provided all warrants are exercised at the highest exercise price.

Strong momentum heading into year-end
We have entered the final quarter of the year with strong momentum and clear evidence that our strategy is working. Through successful collaborations, scaling, and a growing market presence, we continue to create value for our customers, partners, and shareholders.

Lund, November 2025
Sanna Wallenborg
CEO, Lumito