Lifecare AS reported a narrowed operating loss of NOK 10.7 million in the second quarter of 2026, a 52% improvement from NOK 22 million in the same period last year, as cost-cutting measures extended its financial runway through Q2 2027.
The Oslo-listed company, which develops medical sensors, posted a net profit of NOK 4.5 million in Q2 2026, swinging from a NOK 13.6 million loss in Q2 2025. This turnaround was driven by a NOK 2.1 million gain from deconsolidating its German subsidiary and a NOK 15.2 million fair value adjustment on warrants. Total operating expenses fell to NOK 13.0 million in Q2 2026, down from NOK 27.7 million in the prior-year quarter, with CFO Petter noting the cost base was NOK 14 million lower year-over-year.
Revenue remained minimal at NOK 259,000, primarily from Norwegian government grants under the SkatteFUNN program. Cash position increased to NOK 37 million by quarter-end, up from NOK 26 million at the start of Q2, supported by NOK 25 million in net proceeds from a warrant exercise in June. Operating cash outflows totaled NOK 10 million during the quarter, including NOK 3 million for R&D activities.
Lifecare also advanced its clinical program, with three diabetic dog implants reaching the six-month in vivo milestone in Q2 2026. Independent histology confirmed no adverse tissue response, while the company restructured its development organization, consolidating manufacturing and engineering in Bergen, Norway. The UK unit will focus on chemistry and platform development, and operations in Germany are being wound down.
Regulatory strategy has shifted toward a consolidated approach, aiming to submit a package ready for a pivotal CE study by 2027. CEO Joacim stated that while a CE marking in 2027 remains "still not unrealistic," the timeline becomes increasingly challenging as time passes. The company’s shares, trading at NOK 0.34, remain well below their 52-week high of NOK 14.70 but are 25.9% above the 52-week low of NOK 0.27.
