2022-08-24 08:15

Qlife Holding AB, Interim report Q2 2022



  • Revenue in the period amounted to kSEK 4,025 (10.482). Revenue includes sales of Egoo.Health devices and capsules for the device. The decline in test activity following the end of European Covid restrictions has led to a decline in revenue in line with our expectations.
  • EBITDA for the period amounted to kSEK -20,623 (-8,024), and net loss kSEK -20,151 (-8,597).
  • The total cash flow in the second quarter amounted to kSEK -8,977 (98,938).
  • Earnings per share before/after dilution for the first quarter amounted to SEK -1.30 (-0.65), calculated on weighted average number of shares in the period.


  • Revenue in the period amounted to kSEK 14,930 (21,658). Revenue includes sales of Egoo.Health devices and capsules for the device. Q1 showed strong revenue, while the decline in test activity in Q2 following the end of European Covid restrictions has led to a decline in revenue in line with our expectations.
  • EBITDA for the period amounted to kSEK -36,918 (-11,138), and net loss kSEK -35,419 (-12,575).
  • The total cash flow in the first half of 2022 amounted to kSEK -39,713 (86,383).
  • Earnings per share before/after dilution for the second quarter amounted to SEK -2.19 (-0.99), calculated on weighted average number of shares in the period.


  • Qlife’s scientific team has completed the development of and filed a patent application for a blood-to-plasma filtration unit for blood-based biomarker testing. The Egoo capsule already integrates all reagents and with the new filtration unit instead of adding whole blood into the capsule now plasma can be entered, and the test is executed in the device accordingly. In short, the filtration unit is making the Egoo platform more versatile as it now can be used for testing plasma in addition to whole blood.
  • Qlife has formed a scientific advisory board to strengthen our R&D strategy. First to join Qlife Scientific Advisory Board is Dr. Jan Gorm Lisby, a renowned and experienced specialist in Molecular Diagnostics, at Hvidovre Hospital, University of Copenhagen since 2005. Dr. Gorm Lisby has more than 20 years’ experience in assay development, diagnostics, and treatment of severe infections, and is also founder of Anapa Biotech A/S, a molecular research tools company. He will be an advisor to Qlife’s SARS-CoV2/influenza program/molecular program.
  • Qlife has completed all milestones relating to the analytical verification protocols of a new two-in-one test for Influenza and SARS-CoV-2. The completion of these milestones has released the second milestone payment of 11.8 M SEK from the Foundation for Innovative New Diagnostics (FIND). As of Q2 2022, Qlife has received in total 24.4 M SEK from FIND.
  • Qlife holding AB has entered into loan agreements of up to 20 M SEK. The loans are granted by Modelio Equity AB and a large private shareholder in Qlife. The loan term runs over six months from June to December 2022. The loans are entered into on market terms of 1.5% monthly interest and an additional 5% set-up fee. The company has the right to repay the loans in advance. If the Company carries out issues during the term of the loans, the Lenders have the right to set off their claim in such issue. If the loan is not repaid as of the maturity date, the Company shall resolve on an issue of new shares with pre-emption rights for the Company’s shareholders, where the Investors shall be given a preferential right to act as guarantors on market terms.


  • In a Danish clinical evaluation of rapid tests for covid-19, conducted at Hvidovre Hospital and published on the hospital’s website in February, the results for the Egoo SARS-CoV-2 test differed from another scientific study performed. The company therefore contactedHvidovre Hospital and the Danish Medicines Agency to verify the methodology in the evaluation. Deviations in the test execution from intended use and instructions account for incorrect results. Consequently, the Egoo.Health test results will be excluded from the study.
  • Kasper Boel Rousøe has taken on the role as Chief Financial Officer (CFO) for Qlife Holding AB and subsidiary Qlife Aps on March 1st. Replacing CFO in Qlife Aps Lars Bangsgaard who has decided to retire from his position, and part-time CFO in Qlife Holding AB Henrik Ljung.
  • Change in reporting standard to IFRS starting Q1 2022.


  • On 24 August 2022, the board of directors resolved to carry out a rights issue of units, consisting of shares and warrants series TO 2022. Upon full subscription in the rights issue, the company will initially receive approximately SEK 76 million before issue costs and upon full exercise of all warrants, the company will receive additional proceeds of maximum SEK 108 million before issue costs. The rights issue is subject to approval by the extraordinary general meeting on 27 September 2022.

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 24-08-2022 08:15 CET.

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