Scandinavian ChemoTech

July - September 2025                                                                                                                                                                                                                                                                                                              

• Net sales amounted to 3,324 KSEK (1,499)
• Profit/loss after financial items amounted to -1,267 KSEK (-3,243)
• Earnings per share amounted to -0,05 SEK (-0,14)
• Cash flow from operating activities amounted to -1,663 KSEK (-5,567)

January - September 2025                                                                                                                                                                                                                                                                                                              

• Net sales amounted to 9,637 KSEK (4,525)
• Profit/loss after financial items amounted to -5,532 KSEK (-10,550)
• Earnings per share amounted to -0,24 SEK (-0,53)
• Cash flow from operating activities amounted to -3,406 KSEK (-10,973)
• All orders were delivered at the end of the period

Events during the reporting period

• Animal Care achieves record-breaking sales in Q2 2025, totaling USD 390,000.
• ChemoTech’s TSE Treatment shows high response rate in veterinary cancer study- validated by approved PhD dissertation.  
• ChemoTech carries out a directed share issue and receives appr. 4.85 MSEK.
• ChemoTech’s Animal Care surpasses 2,500 treatment-kits sold worldwide.
• ChemoTech’s Animal Care expands university partnerships with SLU Equine Hospital in Ultuna.

Events after the reporting period

• ChemoTech's Animal Care Reports Strong Q3 sales surpassing expectations despite seasonal slowdown.

Word from the CEO

The third quarter of 2025 proved to be another period of significant achievement for Scandinavian ChemoTech and our Animal Care division. Our results demonstrate that the momentum built in the first half of the year has been sustained, and the demand for our vetIQure Tumour-Specific Electroporation (TSE) technology remains robust. Sales for the quarter reached USD 340,000, placing us nearly on par with the record set in the previous quarter. This ongoing growth throughout the year continues to show that we are getting closer to positive cashflow.

Revenue Growth and Business Model Validation

After the first nine months of 2025, our total revenue reached USD 960,000, already surpassing the total revenue generated in the entire previous year. This performance is a clear indicator that our business model is effective, that we are scaling our operations successfully, and that an increasing number of veterinary clinics in Europe and U.S. are placing their trust in our technology.

Market Expansion: U.S. and Europe

The primary driver of our growth is the U.S. market, where adoption of our vetIQure systems continues to accelerate rapidly. In Europe, we are also seeing steady progress, although the pace is somewhat more measured.

Milestone Achievement: 3,000 Treatments

This quarter, our Animal Care division celebrated a major milestone, having surpassed 3,000 treatments performed worldwide with our vetIQure TSE technology. This accomplishment signifies thousands of animals and families who have benefited from extended time, improved comfort, and renewed hope. The positive impact of our technology is perhaps best exemplified by one of our partner clinics in South Florida, which has completed over 150 treatments within its first six months of operation—a remarkable pace that underscores the strength and potential of our platform.

Impact on Patients and Families

Every treatment administered represents a patient whose quality of life has been enhanced, granted extended time or even cured, and a family that has enjoyed more precious moments together. This drive to translate research and engineering into tangible, meaningful results is the guiding force behind all our efforts.

Strengthening Our Team and Addressing Recruitment Challenges

During this quarter, we have increased our marketing team to support our existing customer base. However, recruitment remains a significant challenge for us. Our sales process is highly specialized, requiring deep clinical knowledge of oncology and a thorough understanding of how TSE technology integrates into veterinary care. New team members must combine commercial acumen with genuine medical insight and empathy, as they often consult and guide leading veterinary physicians. 

Identifying and recruiting individuals with this unique combination of skills is a timeintensive process but is crusial to maintainging the high quality and credibility of our services. 

The R&D of the TSE continues

We also continue to invest in R&D where our focus is on developing the next generation of more automated software and advanced treatment kits. It's very important that we keep improving ad evolving the TSE technology to stay ahead of older, static devices, and to maintain our strong client-focused approach in product development. Our R&D team works closely with clinicians and users in the field to understand their challenges and translate their feedback into real solutions that make treatments easier, faster and more precise.

Progress in Human Oncology

In parallel with our veterinary advancements, our human oncology program continues to make headway at AIIMS Jodhpur in India. To date, 17 patients suffering from Head and Neck cancer have been treated with TSE technology, with some patients still undergoing follow-up care. The data and outcomes from this study will play a vital role in the ongoing development and validation of our technology for human oncology applications.

Priorities for Year-End and Outlook

As we approach the final months of 2025, our focus is clear. We aim to achieve cash flow positivity, grow our recurring revenues through the increaseduse of treatment kits, and continue expanding our presence in both North America and Europe. With our current trajectory, a highly motivated team, and a growing base of satisfied customer, I am confident in our ability to end the year on a high note. 

Priorities for Year-End and Outlook

We are dedicated to building a company that is not only based on solid scientific principles but also actively reshaping the future on cancer care - for both animals and, in time, humans. I am proud of our accomplishments to date and sincerely grateful to our shareholders, partners and devoted team members who continue to support and believe in our mission.

Mohan Frick – CEO Scandinavian ChemoTech (publ)