Scandinavian ChemoTech

        January - March 2026           

• Net sales amounted to 2,798 KSEK (2,472)
• Profit/loss after financial items amounted to -1,573 KSEK (-3,322)
• Earnings per share amounted to -0,06 SEK (-0,14)
• Cash flow from operating activities amounted to -1,143 KSEK (-1,239)
• All orders were delivered by the end of the period

        Events during the reporting period     

• Clinical study on TSE in equine sarcoid management to be presented at the upcoming ECVS meeting
• ChemoTech's subsidiary Scandinavian Meditech achieves full CDSCO MD-15 import license in India
• ChemoTech proposes expanded business activities, name change & received proposal on directed share issue
• Scandinavian ChemoTech starts 2026 strong with best first quarter in Company history

Events after the reporting period

• -

Word from the CEO

Following the best year of our history in 2025, the first quarter of 2026 marks a strong start to the year and reflects the continued progress of our focused approach to building a more disciplined, predictable, and scalable business.

During the quarter, the Company reported solid revenues of 2,798 kSEK / 299 kUSD compared to 2,472 kSEK / 235 kUSD in the same period last year. This represents the strongest first quarter in the Company's history. During the quarter, we also passed an important milestone, surpassing 50 installed systems globally. While the figures themselves are encouraging, more important is what they reflect: a business that is becoming increasingly structured, consistent, and capable of converting commercial activity into revenue with greater reliability.

Our operational improvements and strengthened sales processes continue to have a positive impact, particularly in the United States, where we see growing alignment between market engagement and revenue generation. The U.S. remains a key commercial priority, supported by increasing credibility, clearer sales structures, and a growing customer base.

Within Animal Care, vetIQure™ and Tumour Specific Electroporation (TSE) continue to demonstrate strong momentum. We see increased adoption among clinics seeking more effective, tissue-sparing oncology treatments, reinforcing our belief that TSE represents a meaningful advancement and a compelling alternative to more destructive and more expensive therapies, particularly when evaluated from a total cost of care and health economics perspective.

Our scientific and clinical foundation is also continuing to strengthen. We now have two independent peer-reviewed clinical papers in veterinary oncology in the process of being published, which will further validate the clinical performance and differentiation of TSE. In parallel, the real-world application of our technology continues to expand, with several thousand treatments performed globally. These treatments have been carried out in collaboration with leading animal care providers, including several of the most prominent veterinary universities in Europe. This combination of clinical validation and practical use is a key driver of growing confidence in our technology.

At the same time, we continue to build a more scalable and resilient business model. An increasing share of our revenues is linked to recurring treatment usage (sold TSE Treatment-Kits), supporting improved predictability and long-term value creation. Health care professionals highly benefit from innovative single-use treatment kits delivering sharp, consistent and reliable precision during each and every procedure they perform.

As part of strengthening our commercial capabilities for the next phase of growth, we are prioritizing the training and development of new staff within our sales organization in the coming quarters. This effort will focus on both North America and Central Europe (DACH), ensuring that we build the necessary competence, structure, and capacity to support continued expansion in these key markets. These investments are being executed under continued strict cost discipline, with a clear focus on capital efficiency and maximizing long-term shareholder returns.

In Human Care, we achieved an important regulatory milestone with the full approval of IQwave™ in India. While our primary focus remains on Animal Care, this progress highlights the broader potential of our technology platform and preserves long-term strategic optionality.

Our overall direction remains unchanged. We continue to prioritize disciplined execution, operational efficiency, and steady, sustainable growth. The progress achieved during the first quarter provides further confidence that we are moving in the right direction.

While there is still significant work ahead, we are encouraged by the momentum we see across the business and remain committed to delivering both meaningful clinical impact and long-term value for our shareholders.

On behalf of the Board and the entire ChemoTech team, I would like to thank you for your continued support and confidence.

Mohan Frick - CEO Scandinavian ChemoTech (publ)