Lifecare (LIFE) Q3 2024 earnings summary

Executive summary

• Uplisted to Euronext Oslo Børs, enhancing visibility and access to capital markets.

• Achieved successful 12-week longevity study in dogs, confirming Sencell implant biocompatibility and durability.

• Automated key manufacturing steps for glucose monitoring sensors, advancing scalable production.

• Entered strategic partnership with OneTwo Analytics for advanced AI-based glucose analytics and user interface software.

• Acquired RemovAid, securing technology for implant removal and enhancing product capabilities.

Financial highlights

• Operating expenses for the quarter were NOK 22 million, in line with expectations.

• CapEx totaled NOK 8 million, primarily for automated production equipment.

• Net cash flow was NOK 25 million, with a cash position of NOK 76 million at quarter-end.

• Q3 2024 revenue and other income: NOK 1.5 million.

• Operating loss widened to NOK 20.4 million for Q3 2024.

Outlook and guidance

• Veterinary market product launch postponed to first half of 2025 to ensure quality and production consistency.

• Human clinical study protocol finalized and ready for submission once production is validated.

• Ongoing longevity, biocompatibility, and data accuracy studies in dogs to support CE-mark application.

• Sufficient cash to continue studies and prepare for commercialization; moderate expense increase expected in Q4 due to listing and capital issue.

• Ongoing preparations for CE Mark technical files and regulatory studies in 2025.