Board Change • Jun 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Chairman of the Board Niklas Frisk was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 11
First quarter 2026 earnings released First quarter 2026 results: Revenue: kr8.42m (up 217% from 1Q 2025). Net income: kr3.31m (up kr5.98m from 1Q 2025). Profit margin: 39% (up from net loss in 1Q 2025). The move to profitability was primarily driven by higher revenue. Announcement • May 01
Fluicell AB (publ), Annual General Meeting, Jun 03, 2026 Fluicell AB (publ), Annual General Meeting, Jun 03, 2026, at 13:30 W. Europe Standard Time. Location: company`s premises at flojelbergsgatan 8c, in molndal, Sweden Reported Earnings • Feb 21
Full year 2025 earnings released: kr6.07 loss per share (vs kr13.10 loss in FY 2024) Full year 2025 results: kr6.07 loss per share (improved from kr13.10 loss in FY 2024). Revenue: kr15.5m (up 190% from FY 2024). Net loss: kr8.33m (loss narrowed 46% from FY 2024). Reported Earnings • Dec 01
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: kr2.32m (up 349% from 3Q 2024). Net loss: kr2.87m (loss widened 172% from 3Q 2024). New Risk • Sep 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Swedish stocks, typically moving 31% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr17m free cash flow). Share price has been highly volatile over the past 3 months (31% average weekly change). Market cap is less than US$10m (kr26.9m market cap, or US$2.85m). Minor Risk Revenue is less than US$5m (kr12m revenue, or US$1.2m). Reported Earnings • Sep 01
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: kr3.54m (up kr3.04m from 2Q 2024). Net loss: kr2.89m (loss narrowed 44% from 2Q 2024). Reported Earnings • May 12
First quarter 2025 earnings released First quarter 2025 results: Revenue: kr3.58m (up kr3.26m from 1Q 2024). Net loss: kr2.68m (loss narrowed 66% from 1Q 2024). Announcement • Apr 15
Fluicell AB (publ), Annual General Meeting, May 14, 2025 Fluicell AB (publ), Annual General Meeting, May 14, 2025, at 13:30 W. Europe Standard Time. Location: at the company`s premises, at flojelbergsgatan 8c, molndal Sweden Reported Earnings • Mar 21
Full year 2024 earnings released: kr0.032 loss per share (vs kr1.02 loss in FY 2023) Full year 2024 results: kr0.032 loss per share (improved from kr1.02 loss in FY 2023). Revenue: kr10.6m (up 217% from FY 2023). Net loss: kr15.5m (loss narrowed 42% from FY 2023). Reported Earnings • Nov 18
Third quarter 2024 earnings released Third quarter 2024 results: Net loss: kr1.06m (loss narrowed 83% from 3Q 2023). Reported Earnings • Aug 18
Second quarter 2024 earnings released Second quarter 2024 results: Net loss: kr5.18m (loss narrowed 26% from 2Q 2023). Reported Earnings • May 13
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr486.0k (down 73% from 1Q 2023). Net loss: kr7.84m (loss widened 46% from 1Q 2023). Reported Earnings • Mar 10
Full year 2023 earnings released: kr0.98 loss per share (vs kr1.37 loss in FY 2022) Full year 2023 results: kr0.98 loss per share. Revenue: kr4.63m (up 42% from FY 2022). Net loss: kr26.6m (loss widened 23% from FY 2022). Announcement • Jan 11
Fluicell AB (publ), Annual General Meeting, May 15, 2024 Fluicell AB (publ), Annual General Meeting, May 15, 2024. Reported Earnings • Dec 03
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr589.0k (up 15% from 3Q 2022). Net loss: kr6.09m (loss widened 125% from 3Q 2022). New Risk • Oct 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Swedish stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr26m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 10% per year over the past 5 years. Shareholders have been substantially diluted in the past year (86% increase in shares outstanding). Revenue is less than US$1m (kr4.8m revenue, or US$431k). Market cap is less than US$10m (kr25.8m market cap, or US$2.32m). Reported Earnings • Aug 21
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr1.39m (up 185% from 2Q 2022). Net loss: kr7.03m (flat on 2Q 2022). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 02
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr3.42m (up 222% from 3Q 2021). Net loss: kr2.71m (loss narrowed 43% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Director Carl Fhager was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 20
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr818.0k (up 111% from 2Q 2021). Net loss: kr7.05m (loss widened 19% from 2Q 2021). Recent Insider Transactions • May 29
Director recently sold kr157k worth of stock On the 27th of May, Owe Orwar sold around 20k shares on-market at roughly kr8.01 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr348k more than they bought in the last 12 months. Recent Insider Transactions • May 20
Director recently sold kr146k worth of stock On the 13th of May, Owe Orwar sold around 19k shares on-market at roughly kr7.89 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr125k more than they bought in the last 12 months. Reported Earnings • May 16
First quarter 2022 earnings released First quarter 2022 results: Revenue: kr1.17m (up 94% from 1Q 2021). Net loss: kr4.87m (loss narrowed 8.6% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Director Carl Fhager was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: kr1.81 loss per share (down from kr1.54 loss in FY 2020). Revenue: kr3.99m (down 14% from FY 2020). Net loss: kr21.7m (loss widened 23% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • Nov 21
Third quarter 2021 earnings released The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: kr1.44m (up kr1.23m from 3Q 2020). Net loss: kr4.71m (loss narrowed 12% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 21
Second quarter 2021 earnings released The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: kr757.0k (down 62% from 2Q 2020). Net loss: kr5.91m (loss widened 60% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • May 11
Director recently bought kr121k worth of stock On the 7th of May, Owe Orwar bought around 5k shares on-market at roughly kr24.20 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr220k more in shares than they have sold in the last 12 months. Reported Earnings • May 10
First quarter 2021 earnings released The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: kr901.0k (down 28% from 1Q 2020). Net loss: kr5.34m (loss widened 45% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 15
New 90-day high: kr30.50 The company is up 185% from its price of kr10.70 on 17 November 2020. The Swedish market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 18% over the same period. Recent Insider Transactions • Jan 14
Director recently bought kr99k worth of stock On the 11th of January, Owe Orwar bought around 4k shares on-market at roughly kr28.17 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Is New 90 Day High Low • Jan 04
New 90-day high: kr23.20 The company is up 167% from its price of kr8.70 on 06 October 2020. The Swedish market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: kr13.15 The company is up 34% from its price of kr9.78 on 08 September 2020. The Swedish market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 4.0% over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: kr11.50 The company is up 21% from its price of kr9.54 on 21 August 2020. The Swedish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 1.0% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: kr7.74 The company is down 23% from its price of kr10.10 on 30 July 2020. The Swedish market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is down 1.0% over the same period. Is New 90 Day High Low • Oct 12
New 90-day low: kr8.52 The company is down 11% from its price of kr9.60 on 14 July 2020. The Swedish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 16% over the same period. 
