New product ready

Financial summary – first quarter 2023

• Revenue in the period amounted to kSEK 123 (10,905). Revenue includes sales of Egoo.Health devices and capsules for the device. COVID test activities in Qlife’s markets are now so low that the company has discontinued the production of new COVID test capsules in order to save operating cost.
   
• EBITDA for the period amounted to kSEK -11,574 (-16,295), and net loss kSEK -16,780 (-15,268).
   
• The total cash flow in the first quarter amounted to kSEK -12,110 (-30,736).
   
• Earnings per share before/after dilution for the second quarter amounted to SEK -0.73 (-0.99), calculated on weighted average number of shares in the period.

Significant events – first quarter 2023

• Launch of Egoo Health and CRP test
  The CRP test has been soft-launched as a test without medical claims and will be followed by submission of the file for CE-mark, which allows for broader clinical applicability of the platform.
  With the launch of our CRP capsule, Qlife will start delivering on our vision of bringing lifestyle biomarker testing with quantitative precise data to a wider health conscious audience and for home use. 
  The Egoo Health, both device and CRP capsules, is available for all customers to order on the Egoo Health webshop. Capsules are available as single orders or as subscriptions. Based on Qlife’s own information, this is the world’s first self-test platform for immuno-diagnostics biomarkers.
   
• On March 24, 2023 the extraordinary general meeting, resolved to carry out an issue of 576,813,400 units, consisting of shares and warrants of series TO 3, with preferential rights for the Company’s existing shareholders. Provided that the Rights Issue is fullly subscribed, the Company will receive proceeds of approximately SEK 57.7 million.
  The Rights Issue has been secured to 100 percent.
   
• In March Aidian initiated arbitration proceedings against Qlife to collect EUR 0.8 million in unpaid invoices (recorded on the balance sheet as short term liabilities). Qlife has disputed the claim since Qlife has counter claims exceeding Aidian’s claim

Significant events after the end of first quarter 2023
 

• On 25 April 2023. Qlife announced the outcome of the Rights Issue. The subscription summary shows that 122,853,750 units, corresponding to approximately 21.3 percent of the Rights Issue, were subscribed for by exercise of unit rights. In addition, 56,332,035 units were subscribed for without unit rights, corresponding to approximately 9.8 percent of the Rights Issue, and underwriters subscribed for 397,627,615 units, corresponding to approximately 68.9 percent of the Rights Issue. Accordingly, the Rights Issue has been subscribed for to a total of 100 percent. The Company will thus receive total proceeds of approximately SEK 57.7 million before transaction costs, and upon full exercise of all warrants, Qlife will receive additional proceeds of a maximum of approximately SEK 67 million before transaction costs.

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 2023-05-26 09:00 CET.

For more information please contact:

Kasper Boel Rousøe, CFO
kbr@egoo.health
+45 2672 2740

Qlife is a medical device company born to challenge the status quo in healthcare. We work to shift the perspective and turn today’s view on healthcare into tomorrow’s focus on health- empowerment. We are on a quest to empower people with more accessible ways to understand their health – so that they can move beyond reactive care towards proactive wellbeing. It’s how we contribute to improving quality of life for every individual and for the greater society.

Shares for Qlife are being traded on Nasdaq First North Growth Market in Stockholm with G&W Fondkommission as certified advisor.
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