Interim report
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THIRD QUARTER • Net sales for the third quarter amounted to kSEK 16,544 (14,604). • The gross margin on sales of goods was 57 (61) %. • Result after taxes amounted to kSEK 448 (-4,316). • Earnings per share before and after dilution was SEK 0.01 (-0.07) SEK. • The cash flow from operating activities was kSEK 1,022 (-3,896). JANUARY - SEPTEMBER • Net sales for the nine months amounted to kSEK 40,688 (41,040). • The gross margin on sales of goods was 59 (60)%. • Result after taxes amounted to kSEK -14,481 (-23,487). • Earnings per share before and after dilution was SEK -0.21 (-0.47). • The cash flow from operating activities was kSEK -13,147 (-22,394). • Cash and cash equivalents on the balance sheet date amounted to kSEK 55,454 (73,337). SIGNIFICANT EVENTS DURING THE THIRD QUARTER • Acconeer received order from Nexty worth USD 190,000. • Acconeer received order from Future Electronics worth USD 200,000. • Acconeer received USD 230,000 order from Future Electronics. SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD • No significant events after the end of the period. Q3–2025 INTERIM FINANCIAL REPORT JANUARY-SEPTEMBER 2025
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2 ACCONEER INTERIM FINANCIAL REPORT Q3 2025 The development of our advanced multi-channel radar, A212, is in the final stages. The first customer has recently started certification, which is a major milestone. Several new customer evaluations were initiated in presence detection and vital parameters measurement. This is an emerging high potential market that I find particularly interesting because radar in the 60GHz frequency band, where Acconeer is operating, is very well suited for measuring respiration and pulse. This quarter marks an important step forward for Acconeer and shows our strength with a positive EBIT result, despite the headwind of a falling dollar exchange rate. With this milestone behind us, we look forward with great optimism to continue creating innovation and value for our customers and owners – the future is full of opportunities! Malmö, 24 October 2025 Ted Hansson, CEO of Acconeer AB (publ) During the quarter we sold 285,000 sensors and noted 13 new customer product launches. The product margin of 57% is a few percentage points lower than the same period last year, due to higher module sales. We are seeing clear results from our work on cost savings and reduced inventory value, which contributed to the result. Within level measurement we now have approximately 100 customer products launched and noted record module sales during the quarter. We have a strong offer that we are continuously improving, this is delivering results in the form of projects that address new exciting applications with both existing and new customers. In the automotive industry we have secured design wins with two new Japanese car manufacturers – including a first for interior detection using A121. We expect in-cabin monitoring to become a mainstream feature and offer a broad, competitive product portfolio addressing different requirements on installation, functionality and cost. The fact that all our sensors are now used in commercial solutions confirms our strength. The sales recovered after a weak Q2 and we see the future positively. We continued to make progress in cargo and container monitoring, receiving a volume order from a new customer with great potential. We expanded our offering with new monitoring functionality requested by our customers. I am proud to announce that we during Q3 2025 reached one of our communicated financial goals – an EBIT positive result. The revenue amounted to a record high of 16.5 MSEK, an increase of 13% compared to the same quarter last year (24% at constant currency) driven by growth in level measurement and cargo monitoring. COMMENTS FROM OUR CEO
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3 ACCONEER INTERIM FINANCIAL REPORT Q3 2025 SHIPPED SENSORS AND MODULES CUSTOMER LAUNCHES BY MARKET AND AREA OF USE, ACCUMULATED SINCE 2018 IoT & Smart cities Industry & Agriculture Consumer Electronics Automotive Total Americas 8 (+2) 16 (+1) 3 (+1) 8 35 (+4) EMEA 53 (+2) 23 (+1) 10 6 92 (+3) China 25 (+1) 18 (+3) 3 0 46 (+4) Korea 13 (+1) 5 2 0 20 (+1) Japan 5 4 5 (+1) 0 14 (+1) Oceania 8 7 0 0 15 Taiwan 5 1 1 0 7 Total 117 (+6) 74 (+5) 24 (+2) 14 229 (+13) The table refers to the accumulated number of customer launches since product launch Q2 2018. Figures in parentheses refer to the increase from in the previous quarter. Customer launch means that a customer has either communicated that the product has been launched or that the customer has placed an order for more than 1000 sensors.
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4 ACCONEER INTERIM FINANCIAL REPORT Q3 2025 Net sales for the third quarter amounted to kSEK 16,544 (14,604) i.e. an increase of 13 % compared to the previous year. Net sales relate to sales to customers directly and through distributors and income from development-related services. Gross profit, which only includes direct cost of goods, amounted to kSEK 10,621 (9,570) which corresponds to a gross margin of 64% (68%). Reduced with revenues from development related services, gross profit amounted to kSEK 7,877 (7,841) which corresponds to a gross margin of 57% (61%). Product mix between our sensors, modules and development kits affects the gross margin as does fluctuating costs of components. Compared to the third quarter of the previous year, operating expenses decreased with 22% to kSEK 11,550 (14,785). Depreciation of capitalized development costs, patents and inventories was made during the third quarter with kSEK 913 (705) The operating profit for the third quarter amounted to kSEK 220 (-4,690) and the profit after tax amounted to kSEK 448 (-4,316). The average number of employees during the period was 50 (57), of which 7 (6) were women. THIRD QUARTER NET SALES AND RESULT INVESTMENTS, LIQUIDITY AND FINANCIAL POSITION On 30 September 2025 the cumulative book value of balanced costs for development work amounted to kSEK 130,380 (91,321). The amount refers to development work related to the next generation radar sensor A2, as A1 is fully depreciated. During the nine-month period, kSEK 26,040 (38 %) of total costs of kSEK 69,256 were capitalized, compared with the previous year when kSEK 33,585 (41 %) of total costs of kSEK 82,124 were capitalized. The nine-month period's amortization of capitalized development costs amounts to 0 (0) kSEK. The corresponding patent portfolio value amounted to kSEK 2,335 (2,351) most of which is due to investments in patents and patent applications related to the A1 product. Acconeer has 13 patent families including in total 26 granted patents and 10 pending patent applications. The patent portfolio covers various geographic regions, including the U.S., Europe, Japan and China. Investments in fixed tangible assets has been financed from the company's own resources, and amounted to kSEK 16,880 (14,566). NINE MONTHS NET SALES AND RESULT Net sales for the nine-month period amounted to kSEK 40,688 (41,040) i.e. a decrease of 1% compared to previous year. Net sales relate to sales to customers directly and through distributors, and income from development-related services. Gross profit, which only includes direct cost of goods, amounted to kSEK 27,008 (27,310), which corresponds to a gross margin of 66% (67%). Reduced with revenues from development-related services, gross profit amounted to kSEK 19,858 (20,175) which corresponds to a gross margin of 59% (60%). Product mix between our sensors, modules and evaluation kits affect the gross margin. Compared with the nine-month period of last year, operating expenses decreased by 11 % to kSEK 43,216 (48,539). The operating result for the nine- month period amounted to kSEK -15,048 (-19,764) and the result after tax amounted to kSEK -14,481 (-23,487) The period's deficit is lower than the previous year. During the first nine-month period, the company had a non-recurring financial cost of about SEK 4 million, referring to the loan facility from Buntel AB and Exelity AB, which explains why the profit after tax is substantially lower than the operating profit. The company makes further investments primarily within sales and research and development to adapt the company to the increased sales volumes and the broadening of the number of sensors that lies before us.
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5 ACCONEER INTERIM FINANCIAL REPORT Q3 2025 SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD On 30 July Acconeer received an order from Nexty worth USD 190,000. The order related to Acconeer’s radar-sensor A121 and was the first volume order for the previously announced design wins with a leading Japanese car manufacturer. These design wins apply to the access control use case, which enables touchless opening of the trunk lid. Delivery of the order is done in 2025. On 5 August an order from Future Electronics worth USD 200,000 was received. The order related to Acconeer’s radar module XM132 and will mainly be shipped during the fourth quarter 2025. The modules will be used for customer mass production of level measurement devices. On 19 September Acconeer received USD 230,000 order from Future Electronics. The order related to Acconeer’s radar module XM132 and will be shipped during the fourth quarter of 2025. The modules will be used for customer mass production of level measurement devices. SIGNIFICANT EVENTS DURING THE THIRD QUARTER The inventory is still high but has decreased with 12% during the year. The reasons for the high inventory are large purchases made during the pandemic when there was a shortage of components that have now been delivered, delays in customer projects and an improved yield. During the first quarter of 2024 a big customer made an advance payment regarding upcoming deliveries amounting to kSEK 17,234. As of September 30, 2024, the advance payment amounted to kSEK 7,143 and as of September 30, 2025, the advance payment has been settled. The cash flow from operating activities during the nine-month period amounted to kSEK -13,147 (-22,394). After changes in working capital the cashflow for the period was kSEK -16,421 (-17,418). At the balance sheet date, cash and cash equivalents amounted to kSEK 55,454 (73,337). Total equity amounted to kSEK 262,142 (235,001). Equity ratio was 94 (90) percent. The Group is small and not covered by requirements for consolidated accounts, therefore no Group Accounts has been prepared. No significant events after the end of the period.
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6 ACCONEER INTERIM FINANCIAL REPORT Q3 2025 FOR ADDITIONAL INFORMATION, PLEASE CONTACT: Ted Hansson, CEO Acconeer Tel: +4610 - 218 92 00 Mail: ir@acconeer.com UPCOMING FINANCIAL INFORMATION ACCOUNTING AND VALUATION POLICIES KEY RISKS AND UNCERTAINTY FACTORS Year-end report 2025........................13 February 2026 Annual report 2025................................24 March 2026 Interim report Jan-Mar 2026.....................24 April 2026 Annual General Meeting 2026..................28 April 2026 Interim report Jan-Jun 2026......................17 July 2026 Interim report Jan-Sep 2026...............23 October 2026 The finacial reports are available through Acconeer's website:https://investor.acconeer.com/en/financial- reports/. This interim financial report is prepared in accordance with the Swedish Annual Accounts Act as well as the Swedish Accounting Standards Board BFNAR 2012:1 annual report and consolidated (K3). More information about the company's accounting policies can be found in the 2024 annual report, on pages 34-37. The accounting policies are the same. Considering that Acconeer not yet achieved any full-scale production only material costs are reported in Cost of goods sold. Cost of operations function is reported in Sales costs, and amortization of Intangible assets is included in Research and development costs. More information can be found in Note 1 and 2. Revenue has been recognized at the fair value of the consideration received or receivable to the extent that it is likely that the financial benefits arising from it will be available to the company and can be reliably calculated. Acconeer's sale of goods is taken as income in its entirety when the risk passes to the buyer in accordance with delivery terms. In cases where sales are made to a distributor, the revenue recognition takes into account any returns and discounts. Revenue from development-related services relates to the company's development of the new sensor A2 together with an external party, Alps Alpine. This is a fixed-price contract. The project is divided into different Milestones and revenue is recognized on a straight- line basis over the duration of each Milestone, taking into account the degree of completion. Amounts expressed in kSEK and MSEK in this interim report refer to thousands and millions of Swedish kronor, respectively. Numbers within parentheses refer to values from the corresponding period in the preceding year. A description of Acconeer's key risks and uncertainty factors can be found in the 2024 annual report, on page 24-27. No significant changes have taken place since then. SHARE PERFORMANCE Since the beginning of the year, the share price has increased by approximately 10 %. At the end of September 2025, the total number of shares amounted to 73,121,532 shares. AUDITORS' REVIEW This report has not been reviewed by the company’s auditors. Malmö 24 October The Board FINANCIAL TARGETS Acconeer has announced the following financial targets: • First EBIT positive quarter in 2025. • First cash flow positive quarter during 2026. • Revenues of more than SEK 300 million in 2027. • Long-term EBIT margin of at least 25 per cent.
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7 ACCONEER INTERIM FINANCIAL REPORT Q3 2025 INCOME STATEMENT IN SUMMARY KSEK 2025 JUL-SEP 2024 JUL-SEP 2025 JAN-SEP 2024 JAN-SEP 2024 FULL YEAR Net sales Note 1 16,544 14,604 40,688 41,040 51,320 Cost of goods sold -5,923 -5,034 -13,680 -13,730 -18,449 Gross profit 10,621 9,570 27,008 27,310 32,871 Operating expenses Note 2 Sales expenses -6,673 -7,059 -23,778 -23,886 -32,190 Administrative expenses -1,882 -3,408 -7,066 -7,742 -11,607 Research and Development expenses -2,995 -4,318 -12,372 -16,911 -20,630 Other operating income/expenses 1,149 525 1,160 1,465 2,879 Operating result 220 -4,690 -15,048 -19,764 -28,677 Result from financial items Other interest income and similar income 229 737 577 1,280 2 202 Interest expenses och similar expenses -1 -363 -10 -5,032 -5 033 Net financial income/expense 228 374 567 -3,752 -2 831 Profit or loss before tax 448 -4,316 -14,481 -23,516 -31 508 Income tax - - - 29 29 Net profit or loss for the period 448 -4 316 -14,481 -23,487 -31 479 Earnings per share, before dilution, SEK 0.01 -0.07 -0.21 -0.47 -0,60 Earnings per share after dilution, SEK 0.01 -0.07 -0.21 -0.47 -0,60 Average number of shares during the period 73,121,532 62,154,827 69,345,378 49,898,580 52 779 718 Average number of shares during the period after dilution 74,580,255 63,591,908 70,804,101 51,335,661 54,345,579
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8 ACCONEER INTERIM FINANCIAL REPORT Q3 2025 BALANCE SHEET IN SUMMARY KSEK 2025-09-30 2024-09-30 2024-12-31 ASSETS Fixed assets Intangible fixed assets Balanced costs for development and similar work 130,380 91,321 104,340 Patents 2,335 2,351 2,420 Total intangible fixed assets 132,715 93,672 106,760 Tangible fixed assets Machinery and other technical equipment 11,376 7,523 7,176 Inventory, tools and installations 1,569 2,641 2,372 Construction in progress and advance payments for tangible fixed assets 3,935 4,402 5,085 Total tangible fixed assets 16 880 14 566 14,633 Financial fixed assets Participations in Group companies 828 828 828 Total fixed assets 150,423 109,066 122,221 Current assets Inventories, etc. Work in progress 34,765 41,618 38,551 Raw materials and supplies 5,768 7,047 6,981 Finished goods and merchandise 8,070 9,859 9,420 Total inventories 48,603 58,524 54,952 Short-term receivables Accounts receivable 9,715 4,357 4,039 Tax receivables 2,038 1,725 793 Group company receivables 500 3 500 Other receivables 860 1,417 1,107 Prepayments and accrued income 10,154 13,281 13,815 Total short-term receivables 23,267 20,783 20,254 Cash and bank balances Cash and bank balances 55,454 73,337 53,757 Total current assets 127,324 152,644 128,963 Total assets 277,747 261,710 251,184
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9 ACCONEER INTERIM FINANCIAL REPORT Q3 2025 KSEK 2025-09-30 2024-09-30 2024-12-31 EQUITY AND LIABILITIES Total equity Restricted equity Share capital (73,121,532 shares) 3,656 3,108 3,108 Fund for development costs 130,380 91,321 104,340 134,036 94,429 107,448 Non-restricted equity Share premium reserve 663,628 614,563 615,252 Retained profit or loss -521,041 -450,504 -463,497 Net profit or loss for the year -14,481 -23,487 -31,479 Total non-restricted equity 128,106 140,572 120,276 Total equity 262,142 235,001 227,724 Short-term liabilities Advance payments from customers - 7,143 4 439 Accounts payable 4,909 5,718 2 203 Other liabilities 2,018 2,144 1,646 Accruals and deferred income 8,678 11,704 15,172 Total short-term liabilities 15,605 26,709 23,460 Total equity and liabilities 277,747 261,710 251,184
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10 ACCONEER INTERIM FINANCIAL REPORT Q3 2025 CHANGES IN EQUITY KSEK SHARE CAPITAL FUND FOR DEVELOPMENT COSTS SHARE PREMIUM RESERVE SHARE HOLDERS CONTRIB. RETAINED EARNINGS TOTAL EQUITY Total equity 2024-12-31 3,108 104,340 615,252 25 -495,001 227,724 Issue of warrants/ new shares 548 49,452 50,000 Issue expenses -1,101 -1,101 Capitalisation development costs 26,040 -26,040 0 Net profit/loss for the period -14,481 -14,481 Total equity 2025-09-30 3,656 130,380 663,603 25 -535,522 262,142 KSEK SHARE CAPITAL FUND FOR DEVELOPMENT COSTS SHARE PREMIUM RESERVE SHARE HOLDERS CONTRIB. RETAINED EARNINGS TOTAL EQUITY Total equity 2023-12-31 1,332 57,736 490,112 25 -416,919 132,286 Issue of warrants/ new shares 1,776 148,106 149,882 Issue expenses -23,583 -23,583 Warrant expenses -97 -97 Capitalisation development costs 33,585 -33,585 0 Net profit/loss for the period -23 487 -23 487 Total equity 2024-09-30 3,108 91,321 614,538 25 -473,991 235,001
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11 ACCONEER INTERIM FINANCIAL REPORT Q3 2025 CASH FLOW STATEMENT IN SUMMARY KSEK 2025 JUL-SEP 2024 JUL-SEP 2025 JAN-SEP 2024 JAN-SEP 2024 FULL YEAR Cash flow from operating activities 1,022 -3,896 -13,147 -22,394 -28,984 Cash flow from operating activities after change in working capital -3,915 -23,504 -16,421 -17,418 -32,087 Cash flow from investing activities -10,201 -12,176 -30,781 -38,650 -52,275 Cash flow from financing activities - - 48,899 90,752 99,466 CASH FLOW FOR THE PERIOD -14,116 -35,680 1,697 34,684 15,104 Cash and cash equivalents at the beginning of the period 69,570 109,017 53,757 38,653 38,653 Cash and cash equivalents at the end of the period 55,454 73,337 55,454 73,337 53,757
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12 ACCONEER INTERIM FINANCIAL REPORT Q3 2025 KEY INDICATORS KSEK UNLESS OTHERWISE SPECIFIED 2025 JUL-SEP 2024 JUL-SEP 2025 JAN-SEP 2024 JAN-SEP 2024 FULL YEAR Net sales 16,544 14,604 40,688 41,040 51,320 Gross margin* 64% 68% 66% 67% 64% Gross margin, sales of goods* 57% 61% 59% 60% 56% Operating result 220 -4,690 -15,048 -19,764 -28,677 Operating margin* 1% -32% -37% -48% -56% Net profit or loss for the period 448 -4,316 -14,481 -23,487 -31,479 Cash flow, operating activities 1,022 -3,896 -13,147 -22,394 -28,984 Cash and cash equivalents, short-term deposits 55,454 73,337 55,454 73,337 53,757 Total equity 262,142 235,001 262,142 235,001 227,724 Balance sheet total 277,747 261,710 277 747 261,710 251,184 Basic earnings per share, SEK* 0.01 -0.07 -0.21 -0.47 -0.60 Diluted earnings per share, SEK* 0.01 -0.07 -0.21 -0.47 -0.60 Cash flow per share, SEK* 0.01 -0.06 -0.19 -0.45 -0.55 Number of shares 73,121,532 62,154,827 73,121,532 62,154,827 62,154,827 Average number of shares during the period 73,121,532 62,154,827 69,345,378 49,898,580 52,779,718 Average number of shares during the period after dilution 74,580,255 63,591,908 70,804,101 51,335,661 54,345,579 Equity/Ratio, %* 94 90 94 90 91 Equity per share, SEK* 3,59 3,78 3,59 3,78 3.66 Average number of full-time equivalent employees 50 57 51 56 56 *DEFINITIONS OF INDICATORS Gross margin = Gross profit as a percentage of net sales. Gross margin, referring to sales = Regarding the cost of goods sold, only the material cost is included. Costs for the operations function are reported with regard to this in Sales costs and amortization of Intangible assets are included in Research and development costs. Operating margin = Operating result as a percentage of net sales. Earnings per share = Net income after taxes divided by the average number of shares during the period. Cash flow per share = Cash flow from operating activities during the period, divided by the average number of shares during the period. Solidity = Total equity on the balance sheet date, divided by the balance sheet total on the balance sheet date. Equity per share = Equity on the balance sheet date divided by the number of shares on the balance sheet date. Note 1 Net sales TSEK 2025 JUL-SEP 2024 JUL-SEP 2025 JAN-SEP 2024 JAN-SEP 2024 FULL YEAR Sales of goods 13,800 12,875 33,538 33,905 41,691 Development-related services 2,744 1,729 7,150 7,135 9,629 Total net sales 16,544 14,604 40,688 41,040 51,320 Note 2 Information about the company's operating expenses For the period, the sourcing och supply function including cost of goods sold amounts to kSEK 17,511 (14,628) and depreciation of tangible and intangible fixed assets to kSEK 2,581 (1,991). Considering that Acconeer not yet reached full scale production, the cost for the sourcing och supply function is included in Sales expenses and all depreciation is included in RnD expenses.
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13 ACCONEER INTERIM FINANCIAL REPORT Q3 2025 ACCONEER IN BRIEF Based on research from Lund University, Acconeer has created a radar sensor that combines the best of existing radar technologies and creates new opportunities for human interaction with technology. The radar sensor is able to combine the low power consumption of a pulsed system with the high accuracy of a coherent radar in a 5x5 mm component. The Acconeer radar is the first one with the proper size, power consumption and price for consumer electronics use. A radar sensor with these characteristics creates endless possibilities: New applications that require more sophisticated sensors for gesture control, 3D imaging and material recognition are being intensively developed in all of these areas. The potential impact of technology on our everyday life just a few years from now seems boundless. PROMISING AND ATTRACTIVE GROWTH AND RETURNS Acconeer's first products has now entered mass production. Our present focus is to increase sales. The use of Acconeer sensors in large-volume consumer products will generate a profitable business operation. THE HEADQUARTERS IN MALMÖ AND THE EXPERIENCED MANAGING BODY Acconeer has a competent and experienced managing body and board. The company is directed by CEO Ted Hansson. Co-founders Mats Ärlelid and Mikael Egard are responsible for developing the new radar technology, and are co- inventors of several of the patents. LISTED ON FIRST NORTH GROWTH MARKET The Acconeeer share is listed on First North Growth Market, Stockholm, since 11 December 2017. CONSUMER ELECTRONICS INTERNET OF THINGS (IoT) INDUSTRY AND AGRICULTURE AUTOMOTIVE Robot vacuum cleaners and lawn movers can make use of the material classification properties to determine the current surface type. Object positioning allows, for example, presence detection and precise control of robots and tools. By tracking movement, the sensor can provide the means for gesture control, vibration metering, and breathing or pulse rate monitoring. Millimeter-precision distance measurement enables applications such as fuel level measurements and robust parking sensors. A LARGE AND GROWING MARKET Based on key industry trends, Acconeer's market, 3D sensing, is expected to keep growing rapidly. The prevalent technologies today involve ultrasound, IR or cameras. Instead of having to build a new market, Acconeer can replace these existing solutions, which all have weaknesses. The most interesting domains are:
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Acconeer AB (publ) Västra Varvsgatan 19 211 77 Malmö +46 10 218 92 00 www.acconeer.com The information herein was submitted for publication on 24 October 2025.