Interim Report Q3 2025

13 Nov 2025 07:03 CET

In Q3 2025, the Induct group delivered an EBITDA of NOK 1.6 million. While this
represents a decrease compared to last quarter, the YoY growth is more than 100%
compared to Q3 2024. This is in line with what we have forecasted in prior
reports and is the result of our continued disciplined cost control and efforts
towards becoming a more efficient and scalable organisation.

The financial results in Q3 2025 reflect certain corrections in our financial
reporting, as we strive to become more professional also in this area. We have
strengthened the leadership team with interim CFO Eli Cathrine Disch, and Eli’s
background and experience will be very valuable for us moving forward.

The private placements completed during the second and third quarters of this
year have contributed to a significant reduction in both short-term and
long-term debt. The YoY reduction compared to Q3 2024 is 77%, which greatly
improves our financial solidity and resilience, putting the group in a much
better position to pursue growth.

Our commercial discussion with AstraZeneca is progressing very well, and we hope
to have an agreement signed by Q4. With discussions covering opportunities in
other UK countries, e.g. Wales, there are many topics that must be discussed in
detail to ensure that a roll-out is as efficient as possible. This includes
short-term and long-term funding, in addition to other resource commitments and
strategic alignments. One such strategic alignment is with Health Innovation
Networks, which are responsible for supporting trusts with adopting proven
innovations at scale and speed.

To speed up our international growth, we have contracted a dedicated sales
resource for Hitta Bidrag, and we expect to see increased revenues from this
product in the coming months. Nationally, we are focused on increasing
subscriptions to new module offerings within healthcare, quality management and
research management. Sykehuset i Østfold is the first healthcare trust to
subscribe to all three modules. We have entered into a ‘no cure no pay’ license
agreement for a new module developed in partnership with Sunnaas Sykehus, for
helping healthcare trusts manage their collaboration with the private sector,
e.g. MedTech companies.

Our ambition remains the same: To continue growing with profitability at the
core. Our platform is profitable, scalable, and holds significant international
potential. Combined with a more balanced cost structure and a strong focus on
margins, we continue to be confident that we are well-positioned to deliver
sustainable value for our customers, partners, and shareholders.

For further information, please contact:

Synnøve Jacobsen
CEO
M: +47 99 41 54 47
E: sj@induct.net

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659516_Induct - Interim Report Q3 2025.pdf