Interim Report 2021-07-01 – 2021-09-31

Financial Summery

Third quarter (2021-07-01 – 2021-09-31)

• Income amounted to TSEK 123 (204)

• Result before tax amounted to TSEK -3 453 (-2 214)

• Result per share was SEK -0,31 (-0,20)

• Equity ratio amounted to 15 % (89 %) on 30 September 202

CEO Comments

The third quarter of the year got off to a flying start as we already during the first week of the quarter sold an AcouWash system to our Japanese distributor Physio-Tech. Business activities during the summer continued to be characterized by the pandemic. However, we can state that interest in our technology is growing, not least from the life science industry, which strengthens us in our strategic investment in the OEM business.

Revenues in the quarter amounted to 123 TSEK, which is a decrease compared with the corresponding period last year (204). The result decreased to -3 453 TSEK (-2 214). In addition, it should be mentioned that our business is not evenly distributed over the year but can vary significantly from quarter to quarter.

At the same time, we can state that our sales processes have been able to be maintained virtually. Among other things, this has meant that shortly after the end of the quarter we were able to announce two new deals with two existing customers; one deal concerns an existing customer in South Korea who bought their second system. We see it as a clear proof that they are satisfied with the system, technology and support we have provided. We are glad that they now see the need for a second system, which will be used within another branch of their organization. The second deal is a project with Instrumentation Laboratory (IL), a partner we have worked with since 2015 and which is now a part of Werfen. The new project is our third joint project concerning the integration of our technology in one of IL's in vitro diagnostic systems. We are proud and happy about this development that further strengthens our important role as a strong partner for one of the world leading companies in the field. Strategic collaborations with companies such as IL are an important part of our long-term business strategy. The deal with IL also demonstrates that we are on track towards realizing our ambition to secure our technology as the preferred method for automated sample preparation for the life science industry.

The work during the third quarter has been characterized by the rights issue that was announced in mid-September. The rights issue has generated close to 40 MSEK and was very well received by the market and oversubscribed. It is of course extremely gratifying that so many existing and new shareholders have shown such great interest in investing in AcouSort and I would like to thank them for that trust. We have now financially secured AcouSort's ability to accelerate sales, production and marketing of OEM components and continue operations in product development and research.

 We have recently launched AcouWash 2, which is the new version of the company's cell washing and separation system. We have worked intensively with this product development project for over a year and have incorporated design changes and improvements based on feedback from our customers. I can also state that the work with our semi-automated assembly line for separation modules is proceeding according to plan and that the facility will be ready for commercial use around the end of the year.

When we look ahead, we do so with great optimism. We can see that the restrictions are starting to ease in some parts of the world, and we have recently taken the opportunity to pursue a business trip to the north-eastern United States. Also, we see that more and more conferences are returning to physical meetings. Although virtual meetings have enabled us to maintain our customer relationships relatively well, it is at the international conferences that the important new contacts are made.

Torsten Freltoft

CEO ACOUSORT AB

Significant events during the third quarter

• On July 6 AcouSort announces that the company has sold an AcouWash system to its Japanese distributor Physio-Tech. Physio-Tech has over the last year worked intensively with introducing AcouSort’s bench-top systems to the Japanese market.

• On August 24 AcouSort announces that Martin Olin, Chairman of the Board, has been appointed CEO of the Norwegian biotechnology company BerGenBio ASA.

• On September 14 AcouSort announces that the company will make a fully secured rights issue of units of approximately SEK 40 million.

• On September 21 AcouSort announces the upcoming launch of AcouWash 2, held at the international conference µTAS in October.

Significant events after the end of the period

• On October 5 AcouSort launches a new project with Instrumentation Laboratory (IL). The project is the company’s seventh joint project together with IL. The specific project will initially generate revenues of about USD 50 000 for AcouSort.

• On October 11 AcouSort launches AcouWash 2, the new version of its cell washing and separation system.

• On October 15 AcouSort announces that the company’s rights issue of units has been completed. The issue was subscribed at 131.3 percent and AcouSort will receive SEK 39.6 million before issue costs. The issue contained free warrants, which, when fully exercised, will provide the company with an additional SEK 15.7 million.

• On October 27 AcouSort receives an additional order for an AcouTrap system from an existing South Korean customer within the Life Science sector.

• On November 2 AcouSort launches its first OEM prod[1]uct AcouPlasmaOptical, offering a unique solution that enables integrated optical measurements of blood plasma in diagnostic and analytic instruments.

• On November 18 AcouSort announces that the company is taking the next step in its collaboration with a Californian company, where AcouSort’s trapping module will be used as an add-on consumable adding a feature to the partner’s system product.