Financial overview
Second quarter 2026, April 1 – June 30
Net sales amounted to SEK 0 thousand (0).
Profit/loss after tax amounted to SEK -10,059 thousand (-11,275).
Earnings per share before and after dilution amounted to SEK -2.04 (-0.04).
Cash flow from operating activities after changes in working capital amounted to SEK -4,159 thousand (-7,374).
First half of 2026, January 1 – June 30
Net sales amounted to SEK 78 thousand (0).
Profit/loss after tax amounted to SEK -20,555 thousand (-23,078).
Earnings per share before and after dilution amounted to SEK -5.08 (-0.09).
Cash flow from operating activities after changes in working capital amounted to SEK -10,891 thousand (-14,158).
Cash and cash equivalents amounted to SEK 3,318 thousand (7,178) at the balance sheet date.
Financial development
Second quarter 2026
Revenue and results
Net sales for the second quarter of 2026 amounted to SEK 0 thousand (0). Other operating income was positively impacted by project grants received from Vinnova (SEK 180 thousand) and Region Skåne (SEK 175 thousand). The remainder of other operating income relates to rental income. Other external expenses amounted to SEK 1,924 thousand (2,154), while personnel expenses amounted to SEK 3,467 thousand (3,980). Depreciation of capitalised development expenses amounted to SEK 4,866 thousand (4,834). Capitalised patent costs for the second quarter amounted to SEK 90 thousand (159). As product development have been completed in July 2024, no development costs have been capitalised thereafter. Operating loss amounted to SEK -9,760 thousand (-10,826), and loss after tax amounted to SEK -10,059 thousand (-11,275).
Cash flow
Cash flow from operating activities during the second quarter amounted to SEK -4,159 thousand (-7,374). Total cash flow for the period amounted to SEK -5,671 thousand (-7,533).
Personnel
The average number of employees during the second quarter was 7 (8), of whom 1.9 (3) were women.
Investments, liquidity and financial position
Investments in capitalised research and development expenses amounted to SEK 55,866 thousand (74,489), while depreciation amounted to SEK 9,311 thousand (9,311). Investments in the patent portfolio amounted to SEK 2,305 thousand (2,679), while depreciation amounted to SEK 351 thousand (316). During the quarter, the Company received approximately SEK 254 thousand before issue costs through the exercise of warrants of series TO7.
After the end of the period, the Company carried out a rights issue, which provided the Company with approximately SEK 15 million before issue costs and the repayment of SEK 4 million of loans to Fenja Capital. The remaining loan to Fenja Capital amounts to SEK 2 million. The Board of Directors assesses that the Company’s working capital requirements for the continued operations have been secured through the first quarter of 2027.
In connection with the above-mentioned rights issue, warrants of series TO10 were also issued in addition to shares. The warrants, which have an exercise period in January 2027, may provide the Company with a maximum of approximately SEK 15 million before deduction of issue-related costs. The Company’s working capital requirements for its continued operations are partly dependent on the outcome of the exercise of the series TO10 warrants. Should the series TO10 warrants not be exercised to a sufficient extent, the Company will need to secure additional financing to cover its working capital requirements during the subsequent period. The Board of Directors and management continuously evaluate various alternatives for raising capital and financing in order to strengthen the Company’s financial position and support its continued operations.
Cash and cash equivalents at the balance sheet date amounted to SEK 3,318 thousand (7,178). Equity amounted to SEK 53,801 thousand (69,714). The equity ratio was 81% (79%).
First half of 2026
Revenue and results
Net sales amounted to SEK 78 thousand (0). The revenue represents the Company's first sales of services and consumables to CROs and researchers. Operating expenses amounted to SEK 20,740 thousand (22,391). External expenses and personnel expenses decreased by a total of SEK 1,737 thousand compared with the same period in 2025, primarily as a result of implemented cost-efficiency measures.
Investments in intangible assets (patents and trademarks) amounted to SEK 104 thousand (256). No development costs have been capitalised since the third quarter of 2024, as the project is completed. Operating loss amounted to SEK -19,985 thousand (-22,200), and loss after tax amounted to SEK -20,555 thousand (-23,078).
Cash flow
Cash flow from operating activities amounted to SEK -10,891 thousand (-14,158). Total cash flow for the period amounted to SEK -12,459 thousand (14,414).
Personnel
The average number of employees was 7 (9), of whom 2.17 (3.17) were women.
Accounting and valuation principles
This interim report has been prepared in accordance with the Swedish Annual Accounts Act and the Swedish Accounting Standards Board's general guidelines BFNAR 2012:1 Annual Report and Consolidated Financial Statements (K3).
Further information on the Company's accounting principles can be found on page 29 of the 2025 Annual Report. Amounts are stated in SEK thousand (SEK thousand) and SEK million (SEK million), where applicable, and refer to thousands and millions of Swedish kronor, respectively. Amounts in parentheses refer to comparative figures for the corresponding period of the previous year.
Auditor's review
This report has not been reviewed by the Company's auditors.
Material risks and uncertainties
A description of Lumito's material risks and uncertainties is provided on pages 22–23 of the Company's 2025 Annual Report. No material changes have arisen since then.
Significant events during the second quarter of 2026
April 2: Lumito announced that the Company had initiated a joint pilot project with OracleBio, aimed at exploring the combination of Lumito's high-sensitivity platform for tissue labeling and digital imaging with OracleBio's expertise in quantitative image analysis.
April 9: Lumito announced that its collaboration with Truly Labs AB had generated its first revenue related to a customer project within the pharmaceutical industry.
April 16: Lumito published its Annual Report for the financial year 2025. The Annual Report is available on the Company's website.
May 4: Lumito announced that, together with Atlas Antibodies, it had published a white paper demonstrating that direct labeling of biomarkers using the SCIZYS system can simplify immunohistochemical workflows without compromising sensitivity, reproducibility or data quality.
May 7: Lumito held its Annual General Meeting and announced that the meeting had resolved, among other matters, on the re-election of the Board of Directors and auditor, as well as an authorisation for the Board of Directors to resolve on new issues of shares and other financial instruments until the next Annual General Meeting.
May 25: Lumito announced that the subscription price for the exercise of warrants of series TO7 had been set at SEK 3.50 per share and that the exercise period had commenced and would run until June 5, 2026.
May 27: Lumito announced that the Company had been granted a maximum of SEK 200,000 in funding from Vinnova for a project aimed at strengthening regulatory expertise and further developing the quality management system during the commercialisation phase.
June 4: Lumito announced that the Board of Directors had resolved on a rights issue of approximately SEK 30 million, subject to approval by an Extraordinary General Meeting. The issue is intended to finance continued commercialisation and capitalise on the Company's commercial momentum.
June 9: Lumito announced that warrants of series TO7 had been exercised to approximately 3.8%, providing the Company with approximately SEK 254 thousand before issue costs.
June 11: Lumito announced that the Company's Scientific Advisory Board had been strengthened with two internationally leading experts in spatial biology and drug development, with the aim of strengthening the Company's scientific and strategic expertise ahead of continued commercialisation.
June 25: Lumito announced that two scientific posters had been accepted for presentation at the European Congress of Pathology (ECP) 2026 in Stockholm, where the Company will also participate as an exhibitor. The results, generated together with Atlas Antibodies and Concept Life Sciences, respectively, strengthen the scientific evidence supporting the performance of the SCIZYS platform and provide Lumito with increased international exposure to researchers, CROs, pharmaceutical companies and potential collaboration partners.
Events after the end of the period
July 1: Lumito appointed Pascal Bamford as the new Chairman of the Company's Scientific Advisory Board (SAB), while Paul Waring remains as an advisor. The change reflects the Company's increased focus on commercialisation and strengthens its strategic expertise through Mr. Bamford's extensive experience in the pharmaceutical and diagnostics industries.
July 6: Lumito announced the terms of the upcoming rights issue resolved upon to finance the continued commercialisation of SCIZYS.
July 7: At an Extraordinary General Meeting, the resolutions required to carry out the rights issue were approved, including amendments to the Articles of Association, a reduction of the share capital, and the issue of shares and warrants with pre-emptive rights for existing shareholders.
July 8: Lumito published the information memorandum ahead of the rights issue.
July 9: Lumito and Navinci Diagnostics announced the initiation of a pilot project to evaluate a combination of the companies' technologies in advanced tissue analysis. The initial results were considered highly promising and demonstrated that the technologies work well together, potentially creating a powerful tool for research and drug development.
July 13: Lumito announced that the subscription period for the Company's rights issue had commenced.
July 14: Lumito and Offspring Biosciences presented promising initial results from a pilot study combining Lumito's SCIZYS platform with an automated immunohistochemistry platform. The results demonstrated good compatibility and represent an important step toward a more automated and standardised workflow, strengthening the commercial potential.
July 16: Lumito's founder and Board member Stefan Andersson-Engels participated as an invited speaker at the Gordon Research Conference 2026, one of the world's most prestigious scientific conferences. The presentation of the research underlying the SCIZYS platform strengthens Lumito's scientific position and international visibility in advanced medical imaging technology.
July 20: Lumito presented positive results from two ongoing research collaborations that further strengthen the scientific evidence supporting the SCIZYS platform. In the pilot project with Professor Anders Bjartell at Lund University, SCIZYS successfully identified the biomarker PSA in lymph node tissue from prostate cancer, while the collaboration with Malmö University demonstrated that the technology provides a significantly greater dynamic detection range than conventional fluorescence microscopy and virtually eliminates interfering background signals. The results strengthen SCIZYS' position as a high-sensitivity platform for advanced tissue analysis in research, drug development and future diagnostics.
July 29: Lumito announced the outcome of the rights issue, which was subscribed for to approximately 50% after subscription commitments were utilised. The rights issue provided the Company with approximately SEK 15 million before issue costs. Upon full exercise of the warrants, Lumito may receive an additional approximately SEK 15 million in January 2027.
August 17: Lumito announced that the final part of the rights issue, as well as the compensation issue to the underwriters, had been registered with the Swedish Companies Registration Office. Following the registrations, the share capital amounts to SEK 17,543,781, divided into 11,695,854 shares.
CEO statement
Strong momentum drives commercialisation
The second quarter of 2026 was characterised by strong commercial and scientific momentum for Lumito. During the period, we continued to strengthen the scientific evidence supporting SCIZYS, deepened our strategic collaborations and took several important steps in our commercialisation efforts. The progress made during the quarter reinforces our conviction in the potential of SCIZYS and the role the technology can play in the market. With a strengthened financial platform, a growing network of strategic collaborations and an increasingly robust scientific foundation, we are well positioned to continue our development journey. We look to the future with great confidence and are excited about the opportunities ahead in the coming quarters.
First CRO revenue marks an important milestone
The fact that our collaboration with Truly Labs generated the first revenues from a CRO partner during the quarter represents a significant milestone in my view. It is an early but important indication that our technology creates value in commercial drug development projects and that our business model can be put into practice through established market players. At the same time, it strengthens our confidence in the commercial potential of SCIZYS and the opportunities to gradually expand our market presence through additional strategic collaborations.
Strategic partnerships strengthen the commercial position of SCIZYS
Our strategic partnerships continue to play an important role in the market development of SCIZYS by strengthening our market presence, creating new business opportunities and laying the foundation for long-term growth. The pilot project with OracleBio is an example of how SCIZYS can be combined with the expertise of leading players in quantitative image analysis to create added value for researchers and drug developers. This type of collaboration is central to our strategy of continuing to – and increasing – the integration of SCIZYS into established research and development workflows.
White paper strengthens scientific evidence
During the quarter, together with Atlas Antibodies, we published a white paper in which the unique sensitivity of SCIZYS was utilised for so-called direct labelling. For users, this offers the opportunity to streamline immunohistochemistry workflows while maintaining high analytical performance – a combination that we believe provides important evidence of our product’s sensitivity and could be highly significant for market acceptance.
Scientific Advisory Board strengthened
During the quarter, our Scientific Advisory Board was strengthened with additional internationally recognised experts in spatial biology and drug development. Their experience and networks strengthen our strategic position and contribute both valuable perspectives and new points of contact as we continue our efforts to bring SCIZYS to a broader international market.
New research results confirm the potential of SCIZYS
Following the end of the quarter, several important advances have been made, and we continue to see accelerating momentum and growing interest in SCIZYS. We have presented promising results from several research and development projects together with leading academic and industry partners. The collaborations with Navinci Diagnostics and Offspring Biosciences demonstrate that SCIZYS works well in combination with complementary technologies, while results from Lund University and Malmö University further confirm the platform’s high sensitivity and technical performance. Taken together, these results reinforce our conviction that SCIZYS has the potential to become an important tool in advanced tissue analysis, drug development and, in the longer term, clinical diagnostics.
International exposure strengthens Lumito's position
We also see significant value in the international exposure Lumito has received during the summer. The fact that our founder Stefan Andersson-Engels was invited to speak at the prestigious Gordon Research Conference, and that two scientific posters were accepted for the European Congress of Pathology, are clear indications of the international research community’s interest in our technology.
Capital for continued commercialisation
To capitalise on the momentum we are now seeing, the Board of Directors decided during the quarter to carry out a rights issue. Following the end of the period, the outcome was announced, with the issue providing Lumito with approximately SEK 15 million before issue costs, while additional capital may be raised through the warrants in early 2027. Although the outcome did not correspond to the maximum issue volume, it provides us with the resources required to continue executing our commercialisation plan, further develop our strategic collaborations and achieve the objectives we have set for the Company.
Focus on converting interest into business
We have now entered the second half of the year with clear momentum, strengthened evidence, a growing number of active collaborations and pilot projects, increasing international visibility and a clear commercial direction – to convert the interest in SCIZYS into long-term customer relationships and recurring business.
Finally, I would like to extend my warm thanks to our shareholders, partners, employees and other stakeholders for your continued engagement and confidence. Together, we continue to build Lumito towards our vision of enabling more sensitive and reliable tissue analysis for research, drug development and the diagnostics of the future.
Lund, August 2026
Sanna Wallenborg, CEO of Lumito