CrayoNano : 4Q 2021 Financial Summary

Third quarter 2021 financial summary CrayoNano

Condensed profit and loss statement (unaudited)
	Q3		Q3	FY
(Figures in NOK thousands)	2021	2020	2020
Sales revenue	0		0	76
Other revenue and public grants	2 562		495	1 979
Total revenues	2 562		495	2 055
COGS	0		0	0
Gross margin commercial revenue	0		0	76
Payroll and related costs	7 841	3	306	12 122
Other operating costs	5 500	2	898	10 205
EBITDA	-10 778	-5	710	-20 272
Depreciation	1 503	1	236	4 953
EBIT	-12 281	-6	946	-25 225
Net financial items	- 51	-	170	- 844
Net profit before tax	-12 332	-7	116	-26 069
Tax expense	-2 713	-1	566	-6 230
Net profit (loss)	-9 619	-5	551	-19 839
# shares in 1000	28 401	17	104	26 790
Earnings pr share (NOK)	-0,34	-0,32	-0,74
# shares fully diluted in 1000	30 691
Earnings pr share diluted (NOK)	-0,31
The profit and loss is net of capitalized development activities. Gross capitalized development expenses in 3Q
2021 was 4.5 MNOK compared to 2.3 MNOK in 3Q 2020. Net of funding, capitalized development was 1.4
MNOK in 3Q 2021 compared to 1.3 MNOK in 3Q 2020.

Condensed balance sheet (unaudited)
	Q3	Q3	FY
(Figures in NOK thousands)	30.09.2021	30.09.2020	31.12.2020
Assets
Development, patents and licenses	43 504	30 251	34 312
Deferred tax assets	22 685	12 213	16 172
Tangible fixed assets	14 746	16 440	16 053
Financial fixed assets	2 061	2 061	2 061
Total non-current assets	82 995	60 964	68 598
Current assets
Trade and other receivables	4 086	5 677	5 218
Cash and cash equivalents	115 785	11 728	131 583
Total current assets	119 871	17 406	136 801
Total assets	202 866	78 370	205 399
Equity and liabilities
Equity
Share capital	545	347	536
Additional paid-in capital	236 981	85 132	211 752
Retained earnings	-60 952	-31 058	-37 860
Total equity	176 574	54 420	174 428
Liabilities
Convertible loans	0	11 143	11 649
Liabilities to finance institutions	11 350	6 400	10 400
Trade payables	3 074	5 372	2 927
Government charges	808	725	569
Other liabilities	11 061	310	5 426
Total liabilities	26 293	23 950	30 971
Total equity and liabilities	202 866	78 370	205 399

Cash Flow Statement (unaudited)
	Q3		Q3	FY
(Figures in NOK thousands)	2021	2020	2020
Operating activities
Net profit (loss)	-9 619	-5 551	-26 069
Depreciation	1 503	1 236	4 953
Changes payables	9 182	2 506	-1 676
Changes in other balance sheet items	6 412	-	978	7 046
Net cash flow from operating activities	7 478	-2 787	-15 746
Cash flows from investing activities
PPE and capitalized development	-4 601	-3 860	-8 660
Other investments	0		0	- 558
Net cash flow from investing activities	-4 601	-3 860	-9 218
Cash flows from financing activities
Proceeds from issuance of shares	18 755	2 984	129 793
Net from long term debt	-9 027	2 518	18 349
Net cash flow from financing activities	9 728	5 502	148 142
Net change in cash and cash equivalents	12 604	-1 145	123 178
Cash and cash equivalents at the BOP	103 181	12 873	8 405
Cash and cash equivalents at the EOP	115 785	11 728	131 583