First quarter 2025 for the Group
Net sales amounted to TSEK 1,595 (1,357)
Result before tax amounted to TSEK –4,022 (-3,729)
Result per share was SEK -0.27 (-0.25)
Equity ratio amounted to 41% (71%) on March 31, 2025
 
First quarter 2025 for the Parent company
Net sales amounted to TSEK 1,569 (1,357)
Result before tax amounted to TSEK -3,915 (-3,090)
Result per share was SEK -0.26 (-0.21)
Equity ratio amounted to 54% (76%) on March 31, 2025

Significant events during the first quarter
* On February 10, AcouSort announces that the Company’s Board of Directors has decided to bring forward the year-end report for 2024 to Friday, February 14, instead of February 26.
* On February 14, AcouSort AB published its year-end report for 1 January - 31 December 2024.
* On March 3, AcouSort announces that the company has signed a letter of intent with Bio-Recell aiming to jointly explore developing a system for automated clean-up and isolation of stem cells and immune cells from adipose tissue.
* On March 6, AcouSort announces that the Company’s Board of Directors has, subject to subsequent approval by an Extraordinary General Meeting, resolved to carry out a rights issue of shares with pre-emption rights for the Company’s shareholders. The Rights Issue is guaranteed to approximately 73 percent through subscription commitments and underwriting commitments.
* On March 19 AcouSort announces that the company has entered a new collaboration aiming at exploring the feasibility of AcouSort’s technology for improved management of sepsis patient treatment
 
Significant events after the end of the period
* On April 1, AcouSort announces a continuation of the lease agreement of an AcouWash system to a global pharma company. To finalize the evaluations, the partnering company has decided to prolong the evaluation with another six months.
* On April 9, AcouSort published a bulletin from the extraordinary general meeting held on April 9th.
* On May 6, AcouSort announced the final outcome of the rights issue of shares, which was announced on 6 March. The rights issue has been subscribed to a total of approximately 73 percent. Through the Rights Issue, AcouSort receives approximately MSEK 24.9 before issuing costs.
* On May 21, AcouSort announced a second order from a Central European company that develops diagnostic systems and medical devices. The company evaluates AcouSort’s technology for separation of cells in body fluids.

CEO statement Q1 2025
Continued strong progress and collaborations
In 2024, we continuously strengthened our presence in the flow cytometry and cell therapy spaces. I am happy to say that this progress has continued well into the new year, and we have now put yet another intensive and rewarding first quarter behind us, with fruitful interactions and collaborations that will ultimately strengthen AcouSort. We also concluded a rights issue that gives us the financial stability to continue the business development of our innovative technology. Total income in the quarter amounted to MSEK 2.6 (3.0), of which royalty income amounted to MSEK 1.3 (0.84) and is expected to reach at least MSEK 5.25 for the full year.

NEW AND EXTENDED ESTABLISHED COLLABORATIONS
Our core strategy is to achieve commercial success by establishing close collaborations with other companies, with the aim to ultimately establishing long-term OEM partnerships.
In early March, we signed a Letter of Intent with Bio-ReCell to jointly explore developing a system for automated clean-up and isolation of stem cells and immune cells from adipose tissue. The core technology in the new system will be based on our unique acoustofluidic expertise and Bio-ReCell’s efficient digestion and isolation capabilities. Whereas Bio-ReCell’s technology is capable of efficient isolation of a wide range of cell types from complex mixtures, such as adipose tissue, AcouSort’s technology enables purification and up-concentration of cells from these bio-samples or tissue cultures.

We will now move forward to optimize and adopt AcouSort’s separation technology to accommodate Bio-ReCell’s specific requirements. Since the two companies share the same vision and deep desire to develop and provide innovative and effective solutions that further improve patient outcomes, we believe this is a perfect fit.
Later the same month, we started a feasibility project with a UK-based company developing equipment for improved management of sepsis patient treatment. The first part of the study involves a lease of an AcouWash system for evaluating AcouSort’s automated solution for sample preparation. This is yet another example of the versatility of our technology, to expand its use within diagnostics, cell therapy, flow cytometry, and quality control applications where the collaboration partners are leasing benchtop instruments or have purchased evaluation kits specially designed for evaluation of application feasibility and integration.

In October 2024, we announced a new collaboration with a leading pharma company. Focus for the initial part of collaboration was to explore the potential of AcouWash technology in the partnering company’s QC procedures, initially in an R&D setting. So far, the evaluation of the AcouWash technology has been highly successful, and our partner decided in April to prolong the evaluation with another six months to finalize the entire evaluation process. The total value of the extension of the collaboration is EUR 11,300.
If the finalization of the study goes well, we hope to be able to extend this important collaboration and provide the customer with a solution for long-term implementation in their processes.

HIGH ACTIVITY LEVEL TO LAUNCH NEW PARTNERSHIPS
The first contacts with potential partners are typically made at international conferences and trade fairs, and even though we are a very small team, we make it a point to be present at different significant international events where we have the possibility to meet new potential partners, as well as continue developing our relationships with existing ones.
In January, we attended the Advanced Therapies Week in Dallas, TX, to interact with companies who are working on current and next generation technologies for cell and gene therapy; a space where AcouSort can play a key role. Advanced Therapies Week is the primary networking meeting for industry leaders within cell and gene therapy. It specifically focuses on next generation solutions supporting the biotech industry, thus making the event an excellent opportunity to present the fantastic benefits of our technology.

AcouSort also participated at the CCMA, Canadian Cytometry and Microscopy Association conference in Ottawa, Canada on February 6-9, where the company’s Commercial Director Agnes Michanek presented our products and the capabilities of our technology. The event took place at the University of Ottawa, where AcouSort for the past year has been collaborating with Dr Vera Tang on the development of optimized applications for clean-up of dissociated tissue samples before flow cytometry analysis.
Furthermore, we were invited by EU Business Hub Japan and Korea to participate in their Healthcare and Medical Equipment Korea 2025 mission. The event took place on March 20-23 and provided participants with the opportunity to explore advancements in medical technology, including areas like telemedicine, AI in healthcare, and regenerative medicine, while staying informed on the latest industry trends.

Our participation in the EU Business Hub gave us a great opportunity to meet and connect with Korean companies active within AcouSort’s target markets. KIMES is the largest platform where medical professionals and influential players gather to explore the latest medical technologies and sustainable solutions.
In summary, from a marketing perspective, we have hit the ground running this year, and we plan to attend several more conferences in 2025 where we can meet companies that are working on current and next generation cell therapies where AcouSort has the potential to play a vital role. The significantly increased influx of new potential OEM projects proves that our intensified marketing efforts at conferences and trade fairs after the Covid pandemic is paying off.

RIGHTS ISSUE GIVES US FINANCIAL STABILITY
To fulfil our ambitious development program and continue to seek new partnerships, AcouSort’s Board of Directors resolved in March on a partially secured rights issue which closed on May 5. It was subscribed to a total of about 73 percent, with approximately 51 percent subscribed by underwriters.
The proceeds amounted to MSEK 24.9 before issuing costs and are intended to be used to moving current and future collaborations into fully-fledged OEM partnerships over the next two years. Together with known income, such as royalties and public funding as well as projected product and project revenues, the rights issue is aimed at funding our business development activities at least into 2027. We had initially aimed for MSEK 34.1, but in a difficult and unstable market situation that affects the whole life science sector at the moment, we are still happy to have secured enough finances to continue our progress undiminished going forward.

In parallel, we continue to have discussions with different stakeholders to obtain an investor structure with a long-term vision that can take AcouSort all the way to successful and profitable commercialization. These investor relations activities started late 2024 and will continue undiminished in 2025. We are fully committed to further expanding the impact of AcouSort’s unique technology in the Life Science sector and to secure the financial support to achieve this.

OUTLOOK
Our ambition now is to continue strengthening our positions in diagnostics, cell therapy, flow cytometry and quality control by continuing to develop existing and future partnerships over the coming year. With a stable financial position and a very proficient organization, as well as a growing collaboration network, we will now be able to take AcouSort to the next exciting stage and shape the future of the company. I will keep you updated as we make progress in our projects.
Torsten Freltoft – CEO
ACOUSORT AB

The report is attached below and can also be found at https://acousort.com/investor/financial-reports/