Financial overview of the first quarter
- Net sales amounted to TSEK 0 (0).
- Result after taxes amounted to TSEK -7 113 (-7 245).
- Earnings per share before and after dilution amounted to
SEK -0,03 (-0,04). - Cash flow from operating activities after changes in working capital amounted to TSEK -7 180 (-6 684) TSEK.
- Cash and cash equivalents on the balance sheet date amounted to TSEK 13 465 (42 113).
The development of the Company during the first quarter
Net sales and results, first quarter
Net sales for the first quarter of 2024 amounted to TSEK 17 (0).
Operating costs, including capitalised costs for the first quarter, amounted to TSEK 8 087 (11 058). A smaller share of the costs has been capitalised in the quarter compared to the corresponding period last year, TSEK 1 741 (3 744).
The operating profit for the first quarter amounted to TSEK -6 239 (-7 246), and the profit after tax amounted to TSEK -7 113 (-7 245).
Cash flow in the first quarter
Cash flow from operating activities during the first quarter amounted to TSEK -7 081 (-7 214). After changes in working capital, the cash flow during the period was TSEK -7 180 (-6 684). The period's total cash flow amounted to TSEK -8 990 (-10 602).
Personnel
The average number of employees during the first quarter amounted to 14 (15), of which 3 (4) were women.
Investments, liquidity and financial position
On
The book value of investments in the patent portfolio amounted to TSEK 5 156 (4 139), of which the majority refers to investments in patents and patent applications regarding the company's products.
Cash and cash equivalents on the balance sheet date amounted to TSEK 13 465
(42 113). It is the board's opinion that it is likely that the outstanding TO5 and TO6 programs will be utilised and subscribed to shares to such an extent that the board assesses that the company's financing is secured until at least the end of 2024.
Equity amounted to TSEK 95 978 (122 732).
The equity ratio was 85 (94) percent.
Significant events during the quarter
- A research group at the
Tyndall National Institute has had an article published on the use of upconversion nanoparticles. The research study usesLumito 's technology with upconversion nanoparticles (UCNPs).
Mattias Lundin leaves the CEO position atLumito AB but intends to be proposed as a new board member at the ordinary annual general meeting. During the notice period, Mattias will continue in his current role, focus on launching SCIZYS, and leave his role byAugust 19, 2024 .
Lumito has received its first order for SCIZYS reagent kits. The initial order is worth 1560 Euros and is a result of the company's expanded customer offer, scanning as a service. The customer is an academic research unit within the EU that wishes to experiment withLumito 's technology.
Significant events after the end of the quarter
Lumito held a successful product event inStockholm . The event generated valuable feedback and interest from industry experts and potential customers.
CEO comment
In the first quarter of 2024,
An important confirmation during the quarter was the publication of a research paper at the
During the quarter, we focused on communicating and marketing
We were also recently invited to present at Redeye's
In February, I announced my resignation as CEO to accept another very attractive job offer. I will remain until August to ensure a smooth transition to a new CEO. I am very happy to be nominated by the nomination committee as a new board member in
We look forward to continuing our growth journey and are grateful for the continued support.
CEO,
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