Terranet AB - Interim report 2024

Core Insights - The company has successfully validated the Proof of Concept (PoC) for its BlincVision technology in collaboration with MobilityXlab, showing promising results in defined test scenarios [1][7] - The transition from prototype to Minimum Viable Product (MVP) is ongoing, with a focus on requirement specification, design improvements, and increasing system maturity [2][8] - A new CEO, Lars Lindell, has taken over, emphasizing the company's commitment to commercializing its technology and setting strategic goals for 2026 [3][14] - The company secured new financing totaling SEK 40 million, which includes a directed share issue of SEK 25 million and a rights issue of SEK 15 million, aimed at strengthening its financial position [10][11] - The company is intensifying efforts to strengthen its patent portfolio as part of the MVP development, with proprietary patent applications already in progress [5][6] Financial Overview - For Q1 2025, the company reported zero revenue, an operating loss of SEK 9,176 thousand, and a closing cash balance of SEK 4,952 thousand [4] - Earnings per share for Q1 2025 remained at -0.01 SEK, consistent with the previous year [4] Development and Commercialization - The MVP is expected to begin testing with selected partners in Q3 2025, including a collaboration with an industrial player in the mining sector [9] - The company is focused on addressing technical challenges and enhancing the functionality of BlincVision as it moves towards customer deliveries [5][8]