Outcome October - December
• Net sales amounted to 264 (258) kSEK
• Profit after financial items amounted to -6,671 (-8,694) kSEK
• Earnings per share before and after dilution: SEK -0.13 (-0.47) SEK
• Cash flow from operating and investing activities: -4,132 (-4,445) kSEK

Outcome January - December
• Net sales amounted to 1 865 (1 948) kSEK
• Profit after financial items amounted to -19,665 (-24,266) kSEK
• Earnings per share before and after dilution: -0.67 (-1.69) SEK
• Cash flow from operating and investing activities: -18 650 (-24 433) kSEK

Significant events October - December
• Insplorion signs letter of intent with Saab AB for new aerospace collaboration project
• Insplorion wins three new contracts with an total order value of 180 kSEK
• Insplorion raises SEK 20.5 million through a rights issue before deduction of issue costs
• Insplorion's Nomination Committee for the 2025 Annual General Meeting is appointed

Significant events after the end of the period
• Insplorion signs exclusive distribution agreement with Consilium Safety Group for the marine market. Consilium will finance the marine type approvals required in addition to ATEX certification for this market segment. In addition, Consilium has placed an initial order of SEK 0.3 million.

Watch CEO Johan Rask comment and answer questions about the report at
2.30 pm February 20, 2025. Teams-link (Swedish).

A word from the CEO
The financial year 2024 ended on a positive note, with Q4 showing continued growth in interest in our technology and an increasing demand for the NPS-P2 product. During the quarter, we sold NPS-P2 to three new customers. Interest has remained strong and as of the time of this report we have sold the NPS-P2 to six different customers in total. What is particularly notable is that customers have expressed dissatisfaction with the alternative products currently available in the market. Interest in Insplorion's technology has increased significantly, partly due to its detection speed, ability to distinguish specifically hydrogen in mixtures with other gases, and capability to operate in oxygen-deficient environments, all of which give us an advantage over competing products.

Another key feature of Insplorion’s technology is its optical nature. In Q4 we published a Letter of Intent with Saab Group AB where this is the center piece. Thanks to its optical capability, it is possible to read the sensor elements using fiber optics over long distances, which could be critical for example in an aircraft. Together with Saab, we now intend to jointly respond to project requests from companies in the aviation industry, with the aim of developing solutions for safe hydrogen management. Although the launch of finished products in this area is still some time away, this development collaboration clearly demonstrates our technological excellence and the prominent role we play in a funded project of this nature.

After the end of the quarter, we were also able to announce a strategic deal where the ability to work in oxygen-deficient environments is critical. This further highlights the potential for Insplorion to create new business opportunities in the marine sector, among others. Therefore, we were pleased to present an exclusive agreement with Consilium AB, an international leader in gas and fire safety in the marine sector. Consilium will not only be our commercial partner but will also manage and fund future certifications required in the marine sector beyond ATEX. As part of the agreement, Consilium has also placed an order for NPS-P2 sensors worth KSEK 300.

The products we plan to deliver to Consilium and many other customers in the future is an NPS-P2 sensor with ATEX certification. We aim to launch in Q2 2025, with customer deliveries expected to begin in Q3 2025.

Given that Insplorion will increase its international visibility in 2025 for both existing and new customers and partners, it was a great honor to be recognized by Darcy Partners as one of the ten “Top Innovators” globally in the hydrogen sector. Darcy Partners is a respected company in the energy sector based in Houston, Texas, and being included in their top list was a highly appreciated recognition.

In Q4, we also successfully completed the rights issue announced in Q3, raising just over MSEK 20 before issue costs. With this, we confidently move forward with bringing value-creating products to the market.

Gothenburg, Sweden
February 2025
Johan Rask, CEO

The report is also available on the company website at the IR-page.