Financial overview
First quarter 2026, 1 January – 31 March
Net sales amounted to 78 (0) KSEK.
Result after taxes amounted to -10,495 (-11,803) KSEK.
Earnings per share before and after dilution amounted to -3.05 (-0.04) SEK.
Cash flow from operating activities amounted to -6,732 (-6,784) KSEK.
Cash and cash equivalents at the balance sheet date amounted to 8,990 (14,711) KSEK.

Financial development
First quarter 2026
Net sales and results
Net sales for the first quarter of 2026 amounted to 78 (0) KSEK.
Operating costs and depreciation for the first quarter amounted to 10,477 (11,413) KSEK.
Depreciation of capitalised development costs and patents commenced in July 2024, when the product development phase was considered completed, and amounted to 4,873 KSEK for the first quarter. The depreciation period is five years.
A smaller portion of patent costs was capitalised during the quarter compared with the corresponding period in the previous year, 14 (97) KSEK. As the product development phase was considered completed in July 2024, no development costs have been capitalised thereafter.
Operating result for the first quarter amounted to -10,226 (-11,374) KSEK, and the result after taxes amounted to -10,495 (-11,803) KSEK.

Cash flow
Cash flow from operating activities during the first quarter amounted to -6,732 (-6,784) KSEK.
Total cash flow for the period amounted to -6,788 (-6,881) KSEK.

Employees
The average number of employees during the first quarter amounted to 7 (10), of whom 2 (4) were women.

Investments, liquidity and financial position
As of 31 March 2026, the cumulative book value of capitalised expenses for research and development amounted to 60,522 (79,144) KSEK. The amount relates to capitalised development costs attributable to the Company’s products. As the development phase has been considered completed, depreciation has been applied from the third quarter of 2024. The depreciation period is five years. Accumulated depreciation of capitalised costs amounts to 4,873 (4,827) KSEK.
The book value of investments in the patent portfolio amounted to 14 (97) KSEK and relate to capitalised costs for patents and patent applications attributable to the Company’s products. Depreciation has been applied from the third quarter of 2024. Accumulated depreciation of patents amounts to 175 (154) KSEK.
Cash and cash equivalents at the balance sheet date amounted to 8,990 (14,711) KSEK.
Equity amounted to 65,283 (80,989) KSEK.
The equity ratio was 85 (81) per cent.

Accounting and valuation principles
This interim report has been prepared in accordance with the Swedish Annual Accounts Act and the Swedish Accounting Standards Board’s general advice BFNAR 2012:1 Annual Accounts and Consolidated Accounts (K3).
Further information on the Company’s accounting principles is available on page 29 of the Annual Report for 2025. Amounts are stated in KSEK and MSEK, which in this report refer to thousands and millions of Swedish kronor, respectively. Figures in parentheses refer to comparative figures for the corresponding period in the previous year.

Auditor’s review
This report has not been reviewed by the Company’s auditors.

Significant risks and uncertainties
A description of Lumito’s significant risks and uncertainties is provided on pages 22–23 of the Company’s Annual Report for 2025. No material changes have occurred since then.

Significant events during the first quarter of 2026
8 January: Lumito published an investor letter summarising developments during 2025 and outlining priorities for 2026.
12 January: Lumito announced that the Company had received an order for a SCIZYS Erbium kit from a research unit in Sweden.
13 January: Analyst Group initiated financial research coverage of the Company, commissioned by Lumito.
20 January: An Extraordinary General Meeting was held to resolve on amendments to the Articles of Association, a share consolidation, a directed issue (equalisation issue) in connection with the consolidation, and a reduction of share capital.
20 January: Lumito announced that the composition of the nomination committee had changed due to changes in the Company’s shareholder base.
23 January: Lumito announced that the Company’s joint work with Boston Cell Standards had been presented in a scientific poster at The Pathological Society of Great Britain & Ireland’s Winter Meeting 2026. The presentation was delivered by an external researcher.
28 January: Two Swedish research customers placed orders for SCIZYS Erbium kits, requiring the high sensitivity enabled by Lumito’s technology.
29 January: Lumito announced that the Company had received patent approval in India. The patent has previously been approved in Europe and the United States.
30 January: The timetable for the announced share consolidation was published.
3 February: The Company initiated a pilot project in collaboration with Professor Anders Bjartell at Lund University, evaluating the technology for improved and earlier detection of metastases in lymph nodes in prostate cancer.
18 February: Lumito announced that the Company and Atlas Antibodies AB had entered into a strategic partnership to accelerate innovation in tissue analysis and strengthen their positions in a growing global market.
20 February: Lumito’s year-end report for 2025 was published.
10 March: Analyst Group published its first analysis of Lumito following the initiation of its financial coverage.
12 March: Lumito announced that in April 2026, the Company would initiate a pilot study with Offspring Biosciences Sweden AB to evaluate the integration of Lumito’s platform with automated staining workflows.
18 March: Lumito announced the completion of a proof-of-concept study with Tethis S.p.A., demonstrating technical compatibility between Lumito’s technology and the SmartBioSurface® platform.

Events after the end of the period
2 April: Lumito initiated a pilot project with OracleBio to explore integration of Lumito’s platform with quantitative image analysis expertise. The project is supported by an external scientific expert in pathology.
9 April: Lumito announced that the collaboration with Truly Labs AB generated its first revenues linked to a customer project in the pharmaceutical industry.
16 April: Lumito’s Annual Report for 2025 was published.
4 May: Lumito and Atlas Antibodies published a new white paper demonstrating simplified IHC workflows while maintaining high sensitivity and reproducibility.

CEO statement
The first quarter of 2026 confirms that our strategy for market introduction and commercialisation of SCIZYS is the right strategy. During the quarter, we have made significant progress in the transition from development phase to commercial use. The long-term and focused work carried out since 2024/2025 is now beginning to deliver tangible results, translating into concrete business momentum through pilot projects, partnerships and recurring use of our technology.

Our business model, combining reagent kits with our Scan-as-a-Service offering, creates an attractive and low-threshold entry point for new customers while laying the foundation for recurring and scalable revenue streams. The orders received during the quarter mark the the beginning of broader commercial adoption and confirm that SCIZYS is well positioned for scaling within advanced tissue analysis.

Early revenues and growing customer interest
During January, the Company reached an important commercial milestone through generated revenue and recurring orders from a Swedish research customer. These transactions constitute clear external validation of SCIZYS and mark the transition from evaluation to commercial use.

That customers continue to use SCIZYS after initial pilot and evaluation projects is particularly significant, as it indicates both technical differentiation and potential for long-term customer relationships. Several projects are driven by applications with high performance requirements, such as detecting rare cells or very low levels of biomarkers, areas where our technology has clear competitive advantages.

The Scan-as-a-Service model is a key commercial driver at this stage. It lowers entry barriers, enables rapid adoption and creates conditions for recurring and scalable revenue streams, while providing continuous user data and feedback to support market expansion and scaling.

Strong progress in partnerships and ecosystem
A clear focus during the quarter has been to establish and develop collaborations with leading players in both academia and industry. In February, we entered into a strategic partnership with Atlas Antibodies, enabling the combination of our high-sensitivity imaging technology with their broad portfolio of validated antibodies.

The partnership with Atlas Antibodies strengthens both functionality and market relevance. By combining hardware, analytics and biological reagents, we can deliver more complete and differentiated solutions, enhancing customer value, shortening sales cycles and increasing competitive barriers. The collaboration thus creates better conditions for faster market penetration, broader areas of application, and long-term scalable revenue streams.

We have also initiated several pilot projects with partners to further validate our technology in clinically and commercially relevant applications. A particularly important project is being conducted in collaboration with Professor Anders Bjartell at Lund University and addresses a clinically highly relevant area: the early detection of metastases in prostate cancer. The project highlights the potential of SCIZYS to enable analysis at lower levels of biomarker expression and illustrates how SCIZYS can contribute solutions in settings where existing methods are insufficient. At the same time, the collaboration provides a strategically important validation of the technology’s clinical relevance and its long‑term commercial potential within precision medicine.

Furthermore, during the quarter we initiated collaborations with CRO companies with specialised expertise in tissue analysis, such as Offspring Biosciences and OracleBio. The collaboration with Offspring Biosciences focuses on integration into automated workflows, while the collaboration with OracleBio aims to integrate Lumito’s solution with their expertise in image analysis. Automation is a key factor for scalability in pathology and drug development, and compatibility with leading systems is therefore strategically important for our growth.

In addition, a successful proof-of-concept study with Tethis demonstrated integration capability with the SmartBioSurface® platform, further broadening application areas.

Technological validation and international visibility
During the quarter, we have also continued to strengthen the scientific and technical validation of our system through participation in internationally leading forums. The presentation at The Pathological Society of Great Britain & Ireland Winter Meeting is one example of the growing international interest in our solution and positions SCIZYS at the global forefront of advanced pathology. Visibility in these forums is strategically important as it enhances our credibility within the global pathology network.

In parallel, we have strengthened our long-term value creation by expanding the intellectual property protection of our technology. A recently granted patent in India, together with previous approvals in Europe and the United States, now provides us with broad geographical patent protection across several key markets. This strengthens our competitive position, reduces business risks, and constitutes a central building block for future commercialisation, licensing, and strategic partnerships.

Increased capital market visibility and strengthened corporate structure
During the quarter, we have taken further steps to strengthen the Company’s position and increase visibility towards the capital market. Analyst Group has initiated coverage of the Company and published its first analysis, contributing to an increased understanding of our operations and long-term potential.

We have also implemented structural measures, including a share consolidation and capital structure adjustments, to create a more appropriate platform for continued development.

Important commercial milestone
After the end of the quarter, we reached an important milestone in our commercialisation journey. Our collaboration with Truly Labs has generated its first revenue from a customer project within the pharmaceutical industry. This is particularly significant as it demonstrates that our CRO strategy works in practice, from pilot studies to commercial assignments for CRO companies.

Although the order value in this individual project is limited, the transaction represents a strategically important validation of our business model. It confirms that our solution can be integrated into partners’ offerings and create value for end customers. The increased visibility we achieve through collaborations with CRO companies, combined with the parallel discussions we are conducting with drug development companies, is something we view as crucial for continuing to build momentum in the market.

Summary and outlook
In summary, the first quarter of 2026 has further strengthened our position ahead of the next phase of the Company’s development. We have:

• received initial and recurring customer orders,
• established strategic partnerships,
• initiated multiple pilot projects,
• strengthened technological validation and patent protection, and
• taken important steps toward commercialisation.

We now move forward with a clear focus on converting ongoing collaborations into long-term business, while continuing to build a strong ecosystem around SCIZYS.

Our assessment is that the activities carried out during the quarter have laid a solid foundation for continued commercialisation and growth, while we are now beginning to realise the results of the work completed during 2025, paving the way for broader market acceptance and commercial scaling.

Lund, May 2026
Sanna Wallenborg
CEO, Lumito AB