Interim Report January - March 2025

• Robust sales performance, with revenue increasing by 100 percent compared to last year.
• Strong gross margin of 56.6 percent, significantly higher than in the segments we are exiting.
• Monetized our iris recognition technology through a licensing agreement with Smart Eye.
• As part of our strategic exit from Mobile and PC, the associated results are classified as discontinued operations, to provide a more transparent view of our ongoing business performance. All performance figures and KPIs presented are consistently for continuing operations only (unless otherwise stated).
• As of January 1, 2025, depreciation of previously capitalized development costs is recognized within the development cost function in the income statement (and not in COGS). This has been deemed to give a more accurate view of the company's gross margins and increases comparability with other companies in the industry.
• Rights issue successfully completed in February.

First quarter of 2025

• Revenues amounted to SEK 18.2 M (9.1)
• The gross margin was 56.6 percent (65.8)
• EBITDA amounted to SEK 10.7 M (neg: 55.7)
• Adjusted EBITDA amounted to SEK 10.7 M (neg: 55.7)
• The operating result was negative SEK 0.3 M (neg: 67.3)
• Earnings per share before and after dilution amounted to SEK 0.00 (neg: 0.05) **
• Cash flow from operating activities was negative SEK 36.4 M (neg: 60.1), including a negative SEK 22.0 M attributable to discontinued operations

* Including discontinued operations
** As the subscription price in the 2024 rights issue was below the market price, a fund element has been identified, which means that the comparison figures have been recalculated.