Lifecare (LIFE) Q2 2026 earnings summary

Executive summary

• Achieved six-month in vivo implant validation in three dogs, with no adverse tissue response, strengthening real-world evidence and clinical insights.

• Regulatory strategy shifted from first-in-human to a single pivotal CE study, requiring more extensive documentation and preparation before filing.

• Manufacturing and engineering consolidated in Bergen, German operations discontinued, reducing costs and improving execution discipline.

• Strong shareholder support through rights issue and warrant exercises, providing NOK 143 million in gross proceeds and extending cash runway through Q2 2027.

• Strengthened organizational foundation and capital discipline, positioning for the next phase of development and regulatory submission.

Financial highlights

• Q2 2026 revenue and other income: NOK 259,000, mainly from government grants and subleasing.

• Operating loss Q2 2026: NOK 10.7 million (Q2 2025: NOK 22.2 million); H1 2026: NOK 42.2 million (H1 2025: NOK 47.2 million). Adjusted H1 2026 loss (excluding Q1 impairment): NOK 30.1 million.

• Net profit Q2 2026: NOK 4.5 million (Q2 2025: loss NOK 13.6 million), driven by NOK 15.2 million gain from warrant revaluation and deconsolidation of the German entity.

• Cash and cash equivalents at 30 June 2026: NOK 36.8 million (YE 2025: NOK 5.7 million).

• Total equity at 30 June 2026: NOK 54.5 million (YE 2025: NOK -28.0 million), equity ratio 87%.

Outlook and guidance

• H2 2026 focus: complete manufacturing transfer to Bergen, finalize documentation for pivotal CE application, continue product and platform development, and pursue strategic partnerships.

• Cash runway expected through Q2 2027, including regulatory filing and study initiation; further funding or scaling may be needed for full roadmap execution.

• No specific timeline disclosed for regulatory filing or commercial veterinary launch; management will update when certainty is achieved.