Lifecare (LIFE) Q1 2026 earnings summary

Executive summary

• Achieved system-level in vivo validation and reproducible manufacturing for implantable CGM technology, confirming 12-week implant stability in veterinary studies and CE mark for implant electronics, enabling commercial sales in Europe.

• Discontinued German operations, centralizing and consolidating activities in Norway and the UK to reduce costs and improve scalability.

• Secured NOK 80 million from a rights issue and NOK 35.8 million from exercised warrants, strengthening liquidity and supporting near-term operations.

• Simplified regulatory pathway to a single pivotal CE mark study, enhancing execution and capital efficiency.

• App for implant data is developed by a third party and can be read on smartphones.

Financial highlights

• Q1 2026 revenue and other income was NOK 780 thousand, mainly from government grants, down from NOK 6.1 million in Q4 2025.

• Total operating expenses were NOK 32.3 million, with NOK 12–12.1 million impairment loss due to German wind down; adjusted operating expenses were NOK 19.5–20 million.

• Operating loss was NOK 31.5 million in Q1 2026, compared to NOK 16.9 million in Q4 2025 and NOK 25 million in Q1 2025.

• Cash at quarter end was NOK 25.6–26 million, up from NOK 6 million at the start of the quarter due to capital raise.

• Employee benefit expenses were NOK 8.5 million, about NOK 1 million below Q1 2025, with further reductions expected.

Outlook and guidance

• Immediate priorities include advancing regulatory processes, optimizing implant stability, preparing for clinical studies, and scaling up for commercialization.

• Updated and more specific roadmap to be communicated in the next quarterly report.

• No significant revenue expected from the veterinary market in H2 2026; initial sales may be limited to select clinics, with broader market entry expected from 2027.