Lifecare (LIFE) Q2 2025 earnings summary

Executive summary

• Achieved design freeze for implantable CGM, enabling first-in-human and veterinary studies, with regulatory filings and trial site appointments completed.

• Strategic partnerships established for glucose data integration and app support, and a capital-efficient operational model maintained.

• CEO's personal implant experiment provided valuable product development insights.

• Preparations for CE marking are underway, with compliance milestones reached for electronic components.

• Raised NOK 17.1 million through warrant exercise, strengthening the balance sheet, but additional capital is needed for future milestones.

Financial highlights

• Q2 2025 revenue and other income totaled NOK 7,000, with no grants or non-recurring income recognized this year.

• Operating expenses for Q2 2025 were NOK 22.2 million, reflecting investments in design freeze and trial readiness.

• Cash position at quarter-end was NOK 32 million after a NOK 16 million warrant exercise; net cash outflow was NOK 9 million.

• Net loss after tax was NOK 13.6 million in Q2 2025, an improvement from NOK 18.3 million in Q2 2024.

• Net financial items showed a gain of NOK 8.6 million in Q2 2025, mainly from warrant revaluation and interest income.

Outlook and guidance

• Approval for first-in-human trials in Norway and Germany expected in Q3 2025, with trial start planned for H2 2025.

• CE marking study for human use scheduled for 2026, targeting European market launch in 2027.

• Veterinary commercial launch planned before human market to generate early revenue and reduce risk.

• Additional capital raising, including a potential share issue in H2 2025, is under consideration to support ongoing development.

• Peak revenue potential estimated at $1 billion in the 2030s; veterinary market seen as a $10 million opportunity.