LIDDS (LIDDS) Q1 2025 earnings summary

Executive summary

• Net sales remained at zero for Q1 2025, with continued focus on commercializing oncology projects and cost reduction efforts.

• After unsuccessful attempts to secure funding, development of Nanodotax, Nanoimod, and NOV202 was terminated in April.

• The company will now focus on leveraging the NanoZolid technology platform, patents, and potential value in listing and tax loss carryforwards.

Financial highlights

• Net sales were SEK 0 (0) for Q1 2025; operating result was SEK -1,254k (-1k); net result was SEK -1,311k (-5k) year-over-year.

• Cash flow from operating activities was SEK -738k (-64k) year-over-year; cash and cash equivalents at period end were SEK 4,768k (10,947k).

• Equity at March 31, 2025, was SEK 3,241k, with an equity ratio of 59%.

• All costs decreased compared to Q1 2024, mainly due to reductions in personnel, consulting, clinical trials, and business development.

Outlook and guidance

• Cash is expected to be sufficient for 2025 if operations remain at the current level; increased costs would require additional financing.

• The company will focus on extracting value from existing technology and assets, and explore interest in its stock listing and tax loss carryforwards.