Financial information January – March 2026

• Net sales amounted to SEK 23,233 thousand (23,499), a decrease of 1%
• Currency-adjusted net sales increased by 11%
• Sales in US market amounted to SEK 14,805 thousand (15,551), a decrease of 5%
• Sales in other markets amounted to SEK 8,427 thousand (7,949), an increase of 6%
• Gross margin before depreciation amounted to 63.1% (65.9)
• Operating expenses amounted to SEK 35,562 thousand (37,297)
• Operating profit before depreciation amounted to SEK -20,202 thousand (-20,838).
• Profit after financial items amounted to SEK -23,242 thousand (-35,522)
• Earnings per share amounted to -0.14 SEK (-0.27)
• Cash and cash equivalents amounted to SEK 55,353 thousand (62,059). The company also has an unutilized credit facility of SEK 42,500 thousand.

CEO comment:

2026 has started at a strong pace, with improved margins and solid cash flow generation. However, the US market experienced delays in contract processes during the quarter, which combined with a stronger Swedish krona led to a temporary dip in the growth trajectory. Despite this, our 2026 targets remain intact with continued strong full-year growth and profitability by the end of the year.

In the US market, Sales in the first quarter reflected a more cautious purchasing environment in the US as hospitals took additional time on decisions amid inflation and rising costs. This led to some timing shifts in new TetraGraph system orders into the second quarter rather than any loss of demand. Shortly after the end of the quarter, we secured a number of strategic US deals, including deliveries to hospitals within one of the world’s largest integrated delivery networks (IDNs), as well as further expansion within an IDN in the southeastern United States.

The underlying gross margin continued to strengthen. Operating expenses decreased by approximately 5 percent as a result of strict cost control and focus. Cash flow improved by 33 percent, corresponding to SEK 12.7 million, compared with the first quarter of last year.

Our targets of reaching profitability by the end of 2026 remain unchanged. We have the conditions, pipeline, and business in place to return to strong growth. Our assessment of continued gross margin improvement and stable operating expenses also remains unchanged, providing us with solid flexibility in combination with an increasing share of recurring revenue.

Philip Siberg, CEO

Uppsala, Sweden, April 2026