Iconovo (ICO) investor relations material

Executive summary

• Net sales for Q1 2026 increased to TSEK 675 from TSEK 467 year-over-year, driven by compensation from two projects.

• Operating loss narrowed to TSEK -7,996 from TSEK -11,082 year-over-year, reflecting cost reductions.

• Two share issues raised nearly MSEK 50, securing operational financing for at least 12 months.

• Strategic focus on out-licensing ICOpre® and expanding partnerships for ICOres® and reformulation projects.

• CEO appointment made permanent, emphasizing increased self-financing and business development.

Financial highlights

• Net sales: TSEK 675 (Q1 2026) vs. TSEK 467 (Q1 2025); operating result: TSEK -7,996 vs. TSEK -11,082.

• Loss for the period: TSEK -8,093 (Q1 2026) vs. TSEK -11,165 (Q1 2025).

• Cash and cash equivalents at period end: TSEK 43,890, up from TSEK 11,066 year-over-year.

• Cash flow for the period: TSEK 37,331 (Q1 2026) vs. TSEK -13,622 (Q1 2025), reflecting capital raised.

• Personnel costs decreased by 45% to TSEK 4,843 due to reorganization.

Outlook and guidance

• Financing secured for at least 12 months; milestone revenues from ICOpre® out-licensing could improve self-financing.

• No additional payments expected for ICOres® expansion before product launch, anticipated in 2029 at the earliest.

• Strategic focus on reformulation projects and client-funded development to drive future growth.