Progress on all levels
The full report is attached and can also be found here: https://qlifeholding.com/en/investors/finansiella-rapporter
Financial summary - first quarter 2025
- Revenue in the period amounted to kSEK 110 (0).
- EBITDA for the period amounted to kSEK -5,269 (-11,716), and net loss kSEK -6,120 (-8,351).
- The total cash flow in the first quarter amounted to kSEK -8 (2,714).
- Earnings per share before/after dilution for the quarter amounted to SEK -0.73 (-0.01), calculated on weighted average number of shares in the period.
Significant events - first quarter of 2025
- On 7. January Qlife provides an operational update on progress with its partner in China. The company has achieved: a) Excellent clinical data for Egoo CRP; b) more biomarkers are advancing to the clinical testing phase; and c) a production setup for the Egoo Analyzer is progressing.
- On 14. January Qlife provides a sales and regulatory update. The company has shifted its focus from research and development to becoming a sales-driven organization, and has successfully sold its RUO-approved Egoo Phenylalanine (Phe) system in seven countries and is conducting studies in the UK and Denmark to pave the way for full-scale commercialization.
- On 16. January Qlife announces that in collaboration with its strategic partner Hipro Biotechnology, the company has developed a new Egoo Health product platform, which is CE-IVD-marked and sales start immediately in the EU. This new platform will be focused on the field of Women's Health and initially includes 7 high-sensitivity hormone tests related to fertility and menopause. Additionally, the company expects to introduce more interesting biomarker tests during the year.
- On 28. January Qlife signs a letter of intent with a top-20 global Pharma company to explore a potential commercial collaboration.
- On 29. January Qlife announces that it will carry out a rights issue of approximately SEK 11.8 million and will enter into an agreement for a credit facility of SEK 5.6 million.
- On 14. February Qlife launches products within Thyroid Disease and Vitamin D further strengthening its commitment to women's health and health in general.
- On 17. February Qlife announces a major expansion of Egoo.Health with the launch of Egoo.AI, an advanced AI-driven platform designed to provide users with personalized insights based on biomarker test results, initially focusing on Women's Health.
- On 21. February Qlife announces that, in collaboration with Hipro Biotechnology, the company has successfully verified biomarkers related to the LOI with a top-20 global pharma company that was announced on January 28th.
- On 26. February Qlife announces that the outcome from the rights issue announced on 29. January will be a proceeds of approximately SEK 10.7 million, before set-offs and issue costs.
- On 4. March Qlife reaffirms its strategy and plans to expand the Board with three new members. The expansion of the Board of Directors lays the foundation for accelerated commercialization of the company's products.
- On 5. March Qlife carries out a directed issue to guarantors in connection with the completed rights issue and a directed issue of warrants to JEQ Capital AB.
- On 21. March the extraordinary general meeting resolve to re-elect Lars Staal Wegner and Mikael Persson as ordinary board members and to elect Flemming Pedersen, Jørgen Drejer and Jacob Glenting as new ordinary board members. Flemming Pedersen is new chairman of the board of directors.
- On 25. March Qlife announces that it has received approval from UK authorities to initiate a clinical trial in the UK for the Egoo Phe System, developed to measure phenylalanine (Phe) levels associated with the PKU condition. The product is in final phase ahead of registration in the UK and submission to a Notified Body for self-testing approval by non-professional users in the UK, as well as under the IVDR for EU markets.
Significant events - after the first quarter of 2025
- On 10. April announces a strategic roadmap update. The company is positioned at the forefront of the fast-growing at-home diagnostics market, offering lab-grade biomarker testing with global potential. The roadmap outlines key growth areas with a strong focus on commercialization, regulatory milestones, and strategic partnerships.
Letter from the CEO - Progress on all levels
Key proof-of-concept field
At Qlife, we are making progress on all fronts. We have doubled our PHE test sales from last quarter to this quarter, and although sales are not our immediate focus for the PHE test until it receives approval, it is encouraging to see customer eagerness to access the product. We have learned a great deal from interacting with PKU laypersons-these insights have allowed us to address usability issues, such as ensuring that the blood sample properly reaches the plasma membrane. All of this will ensure that we can submit a comprehensive technical file to the UK authorities in Q4 of this year.
The clinical study in the UK is progressing very well, and we are truly grateful to be collaborating with Birmingham Children's Hospital. Since the majority of participants are children, the hospital team visits 5-6 private homes every Saturday, when the children are not in school. This means the testing is conducted under real-life conditions, which is essential for the complete documentation package. The study will continue until October, and we are incredibly thankful to the healthcare professionals who dedicate their
weekends to this work - they are the real PKU heroes.
Confirming our vision
I believe that the progress we are making in the PKU field continues to strengthen our vision: making the home the focal point of health through new technology that enables a wide range of lab-quality blood tests-right from the living room.
At Qlife, we have worked diligently over the past year to become an enabler and first-mover in providing the home blood testing solutions that will be in demand.
Company roadmap
During the past year and into early 2025, we have introduced product solutions that enable advanced blood biomarker testing for a range of conditions relevant to individuals living with chronic diseases and patients receiving hospital care at home.
We are currently engaged in discussions with global IVD, pharmaceutical, and consumer health companies that have expressed interest in our platforms. These platforms are considered highly innovative, addressing
an unmet need for decentralized access to lab-grade data to support the management of chronic diseases outside traditional healthcare institutions.
Moreover, the Hospital-at-Home concept is rapidly becoming a reality in countries around the world. Our focus is to participate in existing projects within our geographical proximity-specifically in Scandinavia and the UK, where we already have a presence. We see these regions as immediate priority areas and will work actively to integrate our platforms into Hospitalat-Home initiatives there.
Partnering, sale and marketing
Our commercialization strategy is to partner with large IVD, pharma, or consumer health companies. The Egoo product solutions, combined with other diagnostic Hospital-at-Home product lines, drugs, or health
technologies, will form new, comprehensive portfolios to address emerging market segments.
As part of our commercialization strategy, we are also working to develop an efficient marketing approach. Since we are still a small company with limited resources, we are focusing on digital marketing through social media, which can be highly effective when you understand your target segment and know how to capture their attention. Given that many of our target groups are often organized into communities on social media, we believe this will allow us to effectively reach part of our intended audience.
Hipro and Qlife technology collaboration
Our strategic partner, Hipro Biotechnology, has proven to be a strong and ideal collaborator, with the two companies' technology platforms complementing each other effectively. This partnership enables us to rapidly bring new and innovative product solutions to market-solutions that will strengthen our first-mover position in the global self-testing and Hospital-at-Home markets for chronic diseases.
The coming years
At Qlife, we see 2025 as the year in which we will prove what we have always aimed to demonstrate: that bringing lab-grade, easy-to-use diagnostics into the homes of patients or people living with chronic conditions makes sense and can support better health management. Over the past year, we have taken significant steps toward having the right product solutions, and we are now working diligently to become a viable and sustainable business.
Göteborg, 20. May 2025
Thomas Warthoe, CEO
This disclosure contains information that Qlife Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 2025-05-20 08:30 CET.
Qlife is a Swedish company based in Göteborg, which develops and markets an innovative medical technology platform, Egoo.Health ("Egoo"), with the goal of giving people access to clinical biomarker data when testing at home. The company is listed on the Nasdaq First North Growth Market (ticker: QLIFE). G&W Fondkommission is the Company's Certified Adviser. For additional information, please visit www.qlifeholding.com.
