Lifecare (LIFE) Q3 2025 earnings summary

Executive summary

• Secured NOK 80 million in funding to support development and regulatory milestones for implantable CGM technology, with bridge financing in place until a rights issue in January 2026.

• Finalized product design and production setup, positioning for near-term veterinary market entry and progressing toward first-in-human clinical approval.

• Early results from longevity trials in dogs confirm biocompatibility and reliable glucose data transmission, leading to product improvements.

• Entered final regulatory review phase for first-in-human clinical approval, with approval expected by December 2025 and trial initiation in Q1 2026.

• Preparing for a veterinary market launch in early 2026, followed by a human CE mark and European launch in 2027.

Financial highlights

• Q3 2025 revenue and other income totaled NOK 0.5 million, mainly from grants, down from NOK 1.5 million in Q3 2024.

• Operating expenses reached NOK 66.4 million in Q3 2025, driven by product development, regulatory compliance, and clinical trial preparations.

• Net loss for Q3 2025 was NOK 64.9 million, compared to NOK 15.1 million in Q3 2024.

• Cash position at quarter-end was NOK 6 million, down from NOK 75.9 million a year earlier.

• R&D spending was NOK 60 million YTD, with investments of NOK 3 million in a new production facility.

Outlook and guidance

• Veterinary market launch expected in 1H 2026, with human market launch targeted for 2027, pending CE mark approval.

• Regulatory approval for first-in-human trial anticipated in Q4 2025, with pivotal human trials to start mid-2026.

• Rights issue of NOK 80-100 million planned for January 2026, with NOK 80 million underwritten and bridge loans securing operations until then.

• Capital use through 2027 expected to be close to NOK 300 million, mainly for product development, clinical trials, and CE mark activities.

• Revenue contributions anticipated from 2027, aligned with commercial launch timelines.