Interim Report First Quarter 2024

STENOCARE A/S
NASDAQ FIRST NORTH GROWTH MARKET, DENMARK
TICKER: STENO

STENOCARE A/S ("STENOCARE") today announces its results for the period 01.01.2024 - 31.03.2024. The report, which has not been reviewed by the Company's auditors, is attached to this release and is also available on https://stenocare.com/investor-relations/

Thomas Skovlund Schnegelsberg, CEO of STENOCARE, comments:

"Stenocare has successfully managed to launch new approved products and sales has seen positive growth during Q1 2024"

(KDKK)	01.01.2024 31.03.2024 3 months	01.01.2023 31.03.2023 3 months	01.01.2023 31.12.2023 12 months	01.12.2022 31.12.2022 12 months
Gross sales 1)	1,356	837	6,923	5,858
Net sales	1,154	808	3,993	4,490
Operating profit before depreciation (EBITDA)	-2,469	-3,157	-12,562	-13,215
Net financial items	-634	-765	-2,876	-1,360
Investment in tangible assets	0	0	176	936
Result per share (DKK)	-0.20	-0.38	-1.26	-1.40

Result per share: The result for the period divided by the average number of shares. Total number of shares as of March 31, 2024, amounted to 18,384,315 (11,676,126). Average number of shares for the first quarter 2024 was 18,384,315 (11,676,126).

1. Gross sales are sales before reduction for returned products.

Highlights during the period

January 2024 - the Company announced that a refinancing agreement was reached covering all existing debt of 8.2 mDKK. As a result, total debt remaining on the balance sheet will be reduced to 5.4. In December the Company completed a directed issue in addition to the exercise of the TO1 warrants with a total of 7.2 mDKK. As a result of these transactions, the Company has now secured the entire anticipated funding and refinancing requirements until break-even which is anticipated by the end of 2024. The remaining funding event (TO2 warrant exercise, due in June 2024) can now be reserved for growth initiatives and further strengthening of the balance sheet.

February 2024 - The Company announced that it has received approval from The Danish Medicines Agency to sell a new THC/CBD medical cannabis oil product to Danish patients. With this, Stenocare has regained the position as the exclusive (only) provider of all three essential oil products under the Danish Pilot Program: THC oil, CBD oil, and now also the new THC/CBD oil. This is considered an important milestone for the company towards doubling sales and achieving break-even in 2024.

March 2024 - The Company announced in November 2023 that the company and its partners had received approval for a new medical cannabis oil product in Australia, set to be available for patients in the first quarter of 2024. In March the new product is officially released and made ready for sale to Australian patients.

Highlights after the period:

April 2024 - The Company announced, that the new Stenocare THC/CBD medical cannabis oil product under the Danish Pilot Program now is available for sales to patients, and Stenocare is the only supplier of THC/CBD oil products under the Pilot. Out of the many suppliers seeking approval to sell their products, Stenocare has been in a clear leadership position from the start of the Pilot in 2018 and is the only supplier of three different medical cannabis oil products under the Pilot.

For additional information regarding STENOCARE, please contact:
Thomas Skovlund Schnegelsberg, CEO
Phone: [phone]
E-mail: [e-mail]

STENOCARE's Certified Adviser is Keswick Global AG, Phone: [phone], E-mail: [e-mail]

About STENOCARE A/S
STENOCARE A/S was founded in 2017 with the purpose of supplying medical cannabis to patients in Denmark and internationally. The company was first to receive the Danish Medicines Agency's permission to import, distribute as well as cultivate and produce medical cannabis. STENOCARE sources its products from a number of carefully selected international high-quality suppliers and operates a unique, indoor state-of-the-art cultivation facility in Denmark, that has multiple levels of redundancy to safeguard quality and uniformity in a pesticide free production process.
www.stenocare.dk        www.stenocare.com       www.stenocare.se

https://news.cision.com/stenocare/r/interim-report-first-quarter-2024,c3971726

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