LIDDS (LIDDS) Q2 2025 earnings summary

Executive summary

• No net sales were recorded for the first half of 2025, with continued operating and net losses year-over-year.

• The board decided to cease further development of key projects and wrote down all intangible assets.

• A balance sheet for liquidation purposes was prepared, confirming equity below half of share capital, but operations will continue following a control meeting.

• The company is focused on oncology drug development using proprietary NanoZolid technology, but commercialization efforts have not yielded results.

Financial highlights

• Net sales were 0 KSEK for both Q2 and the first half of 2025, unchanged from the previous year.

• Operating result improved to -836 KSEK in Q2 2025 from -2,391 KSEK in Q2 2024; for H1 2025, -2,091 KSEK vs. -2,392 KSEK in H1 2024.

• Net result for Q2 2025 was -733 KSEK (Q2 2024: -2,398 KSEK); for H1 2025, -2,044 KSEK (H1 2024: -2,404 KSEK).

• Cash flow from operating activities improved to -2,333 KSEK in H1 2025 from -3,002 KSEK in H1 2024.

• Cash and cash equivalents at period end were 2,350 KSEK, down from 8,009 KSEK a year earlier.

Outlook and guidance

• The board and management believe current cash is sufficient for 2025 if operations remain at current levels; increased costs would require additional financing.

• The company has eight months before the question of liquidation must be reconsidered.