Interim report
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SyntheticMR AB (publ) Interim report April – June 2026 Interim report April - June 2026 SyntheticMR AB (publ) Q1 Q2 Q3 Q4
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SyntheticMR AB (publ) Interim report April – June 2026 Second quarter in brief ➢ Net sales amounted to 14.0 MSEK (12.4), which means an increase in sales of 13 percent. ➢ Operating profit amounted to -6.5 MSEK (-8.6). ➢ Net profit for the period amounted to -6.1 MSEK (-10.4). ➢ Earnings per share before dilution amounted to -0.06 SEK (-0.16). ➢ Cash flow from operating activities amounted to -2.6 MSEK (0.5). Cash and cash equivalents amounted at the end of the period to 28.3 MSEK (19.4). First six months in brief ➢ Net sales for the first half year amounted to 27.1 MSEK (26.6), which means an increase in sales of 2 percent. ➢ Operating profit amounted to 12.7 MSEK (-18.9). ➢ Profit for the period amounted to -12.3 MSEK (-23.7). ➢ Earnings per share before dilution amounted to -0.14 SEK (-0.48). ➢ Cash flow from operating activities amounted to -6.2 MSEK (2.1). Cash and cash equivalents amounted at the end of the period to 28.3 MSEK (19.4). Significant events during the second quarter In April, cMRI ARIA received regulatory approval in the UK and Switzerland. Significant events during the first six months 9th of January, an extraordinary general meeting was held at which the Rights Issue was approved. 4th February, the outcome of the rights issue was announced, which was subscribed to 98.6% with and without subscription rights, and the remaining 1.4% through a guarantee commitment. In April, cMRI ARIA received regulatory approval in the UK and Switzerland. Significant events after the end of the quarter Nothing to report.
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SyntheticMR AB (publ) Interim report April – June 2026 Key figures 2nd quarter First half year Full year 2026 2025 2026 2025 2025 Net sales, TSEK 13,991 12,398 27,084 26,644 57,048 Sales growth, % 13 4 2 -10 2 Operating profit, TSEK -6,457 -8,618 -12,726 -18,856 -49,309 Operating margin, % -46 -70 -47 -71 -86 Net profit for the period, TSEK -6,089 -10,394 -12,275 -23,689 -54,927 Profit/loss per share before dilution, SEK -0.06 -0.16 -0.14 -0.48 -0.97 Profit/loss per share after dilution, SEK -0.06 -0.16 -0.14 -0.48 -0.96 Adjusted operating profit for items affecting comparability, TSEK -6,457 -8,618 -12,726 -18,536 -30,505 Adjusted operating margin, % -46 -70 -47 -70 -53
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SyntheticMR AB (publ) Interim report April – June 2026 CEO comments As I approach my first year as CEO of SyntheticMR, I have gained an increasingly clear view of the strength of our products and the value they create. This is based above all on feedback from our customers, reflected in strong NPS scores, and on our solid base of experienced clinical users at leading academic hospitals. Our solutions are used in both clinical practice and research, providing an important foundation for continued growth. The scientific evidence further reinforces this picture. In a recent independent, peer-reviewed study of seven solutions for amyloid PET, Combinostics’ cPET solution demonstrated the highest or joint-highest stability and reliability in repeated measurements. This provides further validation of the quality of our offering.[1] We actively leverage our strong clinical foundation in our marketing. Through webinars, leading clinical experts, including Professor Tobias Granberg from Karolinska Institutet, Professor Brendel from LMU Munich, and PD Dr. Schmidbauer from AKH Vienna, share their experiences of our solutions. This peer-to-peer perspective builds credibility and helps us reach new clinical users and prospective customers. The webinars are publicly available through our website and YouTube. The US is one of our most important markets, but I am not satisfied with our performance there. We are therefore making a change in the leadership of our US organization. I am personally stepping in to work closely with the team to increase the pace and drive the business forward, while we simultaneously recruit a new leader with the right profile for our broad cNeuro and SyMRI offering. We have also recruited an experienced global CCO to strengthen our strategic sales and marketing efforts and generate more qualified business opportunities in our priority markets. During the quarter, the regulatory review of cMRI ARIA in the U.S. continued as part of the FDA’s standard review process. The dialogue with the agency is ongoing, and the Company is awaiting further feedback from the FDA. In the second quarter, sales amounted to SEK 14.0 million (12.4), an increase of 13 percent. cNeuro continued to perform strongly, with sales of SEK 4.0 million (2.5), corresponding to growth of 63 percent, while ARR increased by 5 percent to SEK 11.7 million (11.3). In the US, total sales decreased to SEK 4.8 million (6.1), mainly due to weaker OEM business, while cNeuro continued to develop positively. In Europe, sales amounted to SEK 3.3 million (4.7), with performance continuing to be affected by low OEM sales. Asia performed strongly, with sales of SEK 5.9 million (1.6), primarily driven by the OEM business and India. ”Our path to profitability is based on increased sales combined with cost control” This development demonstrates the value of our hybrid business model, combining direct sales with OEM and strategic partnerships. Today, our collaborations with our OEM partners are more extensive and strategic than before, creating better conditions for joint growth and broader market reach.
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SyntheticMR AB (publ) Interim report April – June 2026 One example of a partnership outside our OEM collaborations is TeraRecon, which has established a presence in an additional region within the US Veterans Affairs (VA) healthcare system. This expands our access to the VA and creates new sales opportunities together with their resellers. In parallel, we continue to develop ways of combining our technologies. SyMRI Neuro+ is a clear example, packaging SyMRI 3D together with cMRI from Combinostics to combine quantitative information on tissue properties with regional and lesion-based segmentation. Approximately ten customers currently use SyMRI Neuro+, and our ambition is to integrate the technologies more closely over time. This is a central part of the rationale behind the acquisition of Combinostics: by combining our technologies and expertise, SyMRI can be applied across a broader range of clinical areas, strengthening its long-term potential to become a standard of care. At the same time, the combination gives us a unique position in neuroimaging and provides a clear foundation for increased clinical value, continued differentiation and long-term growth. The rights issue completed in early 2026 enables us to execute on our priorities with the objective of achieving profitability. The capital is being deployed in a focused manner to strengthen sales in our key markets, increase our market presence, and develop strategic partnerships. Our path to profitability is based on increased sales combined with cost control. Our ambition is for our existing capital to be sufficient, and disciplined cost management is an important part of strengthening cash flow. The focus now is on execution – translating the strength of our offering into sustainable growth and profitability. Lena Åredal CEO SyntheticMR [1] Bollack A. et al., Comparability of Centiloid values from [18F]flutemetamol scans using seven commercial and research software, NeuroImage: Reports, 2026;6(2):100343. DOI: 10.1016/j.ynirp.2026.100343.
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SyntheticMR AB (publ) Interim report April – June 2026 The Group’s financial performance Second quarter, April – June 2026 Net sales for the second quarter increased 13 percent compared to the same period last year and amounted to 13,991 TSEK (12,398). Operating expenses in the second quarter were higher compared with the same period last year and amounted to -22,693 TSEK (-23,868). During the quarter, severance payments of 1.1 MSEK were expensed and paid to the former Head of the U.S. operations. Operating profit for the quarter was -6,457 TSEK (-8,618), corresponding to an operating margin of -46 percent (-70). Tax on profit for quarter amounted to 5 TSEK (64). Total profit after tax amounted to -5,577 TSEK (-8,178), which resulted in earnings per share of -0.06 SEK (-0.16). In the second quarter, cash flow from operating activities amounted to -2,570 TSEK (530). As of June 30 2026, the Group’s cash and cash equivalents amounted to 28,343 TSEK (19,406). First six months, January – June 2026 Net sales of the first six months of 2026 amounted to 27,084 TSEK (26,644), which corresponds to an increase of 2 percent. The costs for the first six months of 2026 amounted to -44,705 TSEK compared to -50,695 TSEK last year. The cost reduction is attributable to previously implemented cost-saving measures relating to employees and consultants initiated in spring 2025, exchange rate fluctuations, and continued strong cost discipline. At the end of the second quarter, the Group had 37 employees, compared with 42 employees at the same time last year. Furthermore, the company has 9 long-term consultants contracted globally at the end of the period. Of a total of 46 people, 17 are women and 29 are men. The distribution of the number of people is 17 in Sweden, 8 in Finland, 4 in the Rest of Europe, 4 in the USA and 13 in the APAC region. Operating profit amounted to -12,726 TSEK (-18,856), which corresponds to an operating margin of -47 percent (-71). Tax on earnings amounted to -76 TSEK (-1). Total profit after tax for the first half year amounted to -11,430 TSEK (- 24,028), which resulted in earnings per share of - 0.14 SEK (-0.48). Cash flow from operating activities amounted to -6,202 TSEK (2,089). As of June 30 2026, the Group’s cash and cash equivalents amounted to 28,343 TSEK (19,406). Net sales per quarter and rolling 12 month 2022-2026 Operating profit per quarter and rolling 12 month 2022-2026
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SyntheticMR AB (publ) Interim report April – June 2026 Currency effects The Group is impacted by the currency change against the Swedish krona, since invoicing is mainly denominated in USD, EUR and YEN, while a big part of the costs are in SEK. The Group does not use hedging instruments in terms of futures or options to hedge currency risks. Capitalization of Intangible assets Investments in intangible assets for the second quarter amounted to 1,979 TSEK (2,152). The corresponding figure for the full year is 3,682 TSEK (4,706). Investments in intangible assets relate to capitalized development costs and patents. Financial position The Group´s total assets amounted to 160,796 TSEK on June 30, 2026, compared to 162,760 TSEK on March 31, 2026. The equity/assets ratio was for the same period 78.2 percent (80.7). At the end of the period, current receivables amounted to 52,052 TSEK (49,958) whereof 20,640 TSEK (19,980) related to account receivables and 25,993 TSEK (25,095) related to contract assets. Of the contract assets, 11.4 MSEK are expected to be invoiced in year 1, 6.0 MSEK in year 2, 7.6 MSEK within year 3-5 and 1.0 MSEK after year 5. Shareholders' equity at the end of the period amounted to 125,707 TSEK (131,293). Related party transactions During the second quarter, transactions with related parties amounted to 0 TSEK (245). . Risks and uncertainties Through its operations, SyntheticMR´s operations and results are affected by several external and internal factors. A continuous process is ongoing to identify all possible risks and assess how to handle the respective risks. SyntheticMR is dependent on key personnel and as the organization is relatively small, business-related risk may arise if one or more key personnel end their commitment to the company. The most relevant risks and uncertainties are described in the annual report for 2025 and relate to financial and operational risks. No other significant risks and uncertainties than those described in the 2025 annual report have been identified in 2026. The Group has, like most other MedTech companies, an uneven order inflow over the year and the variation in individual quarters may be high. Parent Company SyntheticMR AB (publ) is the Parent Company of the SyntheticMR Group. Share data and ownership Share capital on June 30, 2026, amounted to 1,983,170 SEK and the number of shares to 89,332,027. The quota value per share is SEK 0.022. All shares have equal rights to the Group´s assets and profits. One share entitles to one vote. The Group´s shares were listed on October 18, 2013, at Spotlight Stock Market.
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SyntheticMR AB (publ) Interim report April – June 2026 Consolidated Income Statement and Other Comprehensive Income 2nd quarter First half year Full year TSEK 2026 2025 2026 2025 2025 Operating income Net sales 13,991 12,398 27,084 26,644 57,048 Own work capitalized 1,866 1,837 3,430 4,128 6,997 Other income 379 1,015 1,464 1,067 781 Total income 16,236 15,250 31,979 31,838 64,825 Operating expenses Other external expenses -9,183 -9,428 -17,347 -19,774 -58,105 Employee benefit costs -10,216 -10,664 -20,364 -22,259 -40,623 Depreciation and impairment of tangible and intangible assets -3,209 -2,790 -6,541 -5,797 -11,792 Other operating expenses -85 -986 -454 -2,864 -3,614 Operating profit * -6,457 -8,618 -12,726 -18,856 -49,309 Results from financial items Result from financial income/expense, net 364 -1,840 528 -4,832 -5,612 Profit for the period before tax -6,093 -10,458 -12,199 -23,689 -54,921 Tax on net profit for the period 5 64 -76 -1 -6 Net profit for the period -6,089 -10,394 -12,275 -23,689 -54,927 Attributable to: SyntheticMR AB (publ) -6,089 -10,394 -12,275 -23,689 -54,927 Holdings without controlling influence - - - - - Earnings per share before dilution, SEK -0.06 -0.16 -0.14 -0.48 -0.97 Earnings per share after dilution, SEK -0.06 -0.16 -0.14 -0.48 -0.96 Other comprehensive income Items that can later be reversed in the income statement Exchange rate differences 511 2,216 845 -339 -1,942 Other comprehensive income 511 2,216 845 -339 -1,942 Profit for the period -5,577 -8,178 -11,430 -24 028 -56,869 Attributable to: SyntheticMR AB (publ) -5,577 -8,178 -11,430 -24,028 -56,869 Holdings without controlling influence - - - - - *Adjusted operating profit for items affecting comparability, TSEK -6,457 -8,618 -12,726 -18,536 -30,505
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SyntheticMR AB (publ) Interim report April – June 2026 Consolidated Balance Sheet Assets, equity and liabilities ASSETS TSEK 2026-06-30 2025-06-30 2025-12-31 Fixed assets Capitalized development expenditure 36,099 39,140 37,035 Patent 945 1,089 1,168 Other intangible assets 6,925 8,118 7,316 Goodwill 33,115 33,273 32,293 Equipment and fittings 210 336 280 Rights of use assets 2,701 2,783 2,245 Other fixed assets 406 428 378 Total fixed assets 80,401 85,168 80,713 Current assets Accounts receivable 20,640 18,474 14,701 Current tax assets 29 225 96 Other receivables 2,411 2,674 1,849 Contract assets 25,993 49,358 30,201 Prepaid expenses and accrued income 2,979 2,982 2,718 Cash and cash equivalents 28,343 19,406 7,367 Total current assets 80,395 93,118 56,931 TOTAL ASSETS 160,796 178,287 137,645 EQUITY AND LIABILITIES Equity Share capital 1,983 1,322 1,322 Other contributed capital 164,862 130,076 134,359 Reserves -1,589 -831 -2,434 Profit brought forward including profit for the period -39,549 3,888 -27,302 Equity attributable to the Parent Company 125,707 134,455 105,946 Total equity 125,707 134,455 105,946 Non-current liabilities Deferred tax liabilities 1,427 1,672 1,507 Convertible loans - 4,283 - Long-term financial liabilities 3,050 4,530 3,002 Total non-current liabilities 4,477 10,485 4,509 Current liabilities Short-term financial liabilities 2,478 2,001 1,984 Accounts payable 3,243 4,415 3,427 Current tax liabilities 15 34 168 Other current liabilities 1,338 1,186 1,021 Accrued expenses and prepaid income 23,537 25,710 20,589 Total short-term liabilities 30,612 33,347 27,190 TOTAL EQUITY AND LIABILITIES 160,795 178,287 137,645
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SyntheticMR AB (publ) Interim report April – June 2026 Consolidated statement of cash flow 2nd quarter First half year Full year TSEK 2026 2025 2026 2025 2025 Operating activities Operating profit -6,457 -8,618 -12,726 -18,856 -49,309 Adjustments for non-cash items Depreciation and impairment of tangible and intangible assets 3,209 2,790 6,541 5,797 11,792 Other non-cash item -9 42 28 83 18,617 Unrealized exchange rate differences -431 -1,678 -1,428 890 1,197 Interest received - 2 3 55 89 Paid interest -17 -21 -28 -305 -372 Income tax paid -160 -170 -393 1,507 932 Cash flow from operating activities before changes in working capital -3,865 -7,653 -8,004 -10,830 -17,055 Changes in accounts receivable -418 6,631 -5,111 12,553 15,415 Changes in other receivable -1,115 974 4,160 2,061 848 Changes in accounts payable 690 132 -216 -1,535 -2,470 Changes in other payable 2,139 446 2,969 -159 -2,210 Cash flow from operating activities -2,570 530 -6,202 2,089 -5,472 Investing activities Acquisition of subsidiaries, deduction for acquired cash and cash equivalents - - - -44,896 -44,896 Investment in intangible assets -1,979 -2,152 -3,682 -4,706 -7,904 Investment in tangible assets - -9 - -9 -24 Investment in other fixed assets 102 35 -24 88 136 Cash flow from investing activities -1,877 -2,126 -3,705 -49,523 -52,688 Financing activities New share issue - - 32,755 65,212 65,212 Issue expenses - -1,245 -1,591 -8,043 -8,043 Repayment of leases -374 -261 -642 -526 -1,077 New loan - - - - - Repayment of loan - - - -40,000 -40,903 Cash flow from financing activities -374 -1,506 30,522 16,644 15,190 Cash flow for the period -4,821 -3,103 20,614 -30,790 -42,970 Cash and cash equivalents opening balance 32,949 22,685 7,367 51,010 51,010 Exchange gain/loss on cash balances 215 -176 361 -814 -673 Cash and cash equivalents, closing balance 28,343 19,406 28,343 19,406 7,367
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SyntheticMR AB (publ) Interim report April – June 2026 Consolidated statement of changes in equity Attributable to the parent company’s shareholders TSEK Share capital Other contributed capital Translation reserve Retained earnings including net profit for the period Total equity Opening equity 2025-01-01 925 73,303 -492 27,493 101,230 Profit for the period - - - -23,689 -23,689 Other comprehensive income for the period - - -339 - -339 Total profit for the period - - -339 -23,689 -24,028 New share issue 397 64,816 - - 65,213 Issue expenses - -8,043 - - -8,043 Share-based incentive programs - - - 83 83 Closing equity 2025-06-30 1,322 130,076 -831 3,888 134,455 Opening equity 2026-01-01 1,322 134,359 -2,434 -27,302 105,946 Profit for the period - - - -12,275 -12,275 Other comprehensive income for the period - - 845 - 845 Total profit for the period - - 845 -12,275 -11,430 New share issue 661 32,094 - - 32,755 Issue expenses - -1,591 - - -1,591 Share-based incentive programs - - - 28 28 Closing equity 2026-06-30 1,983 164,862 -1,589 -39,549 125 707
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SyntheticMR AB (publ) Interim report April – June 2026
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SyntheticMR AB (publ) Interim report April – June 2026 Consolidated key figures The group 2nd quarter First half year Full year 2026 2025 2026 2025 2025 Net sales, TSEK 13,991 12,398 27,084 26,644 57,048 Sales growth, % 13 4 2 -10 2 Operating profit, TSEK -6,457 -8,618 -12,726 -18,856 -49,309 Operating margin, % -46 -70 -47 -71 -86 Net profit for the period, TSEK -6,089 -10,394 -12,275 -23,689 -54,927 Cash flow from operating activities, TSEK -2,570 530 -6,202 2,089 -5,472 Shareholders equity, TSEK 125,707 134,455 125,707 134,455 105,946 Total assets, TSEK 160,796 178,287 160,796 178,287 137,645 Equity/assets ratio, % 78.2 75.4 78.2 75.4 77.0 Return on equity, % -36.9 -29.5 -36.9 -29.5 -45 Number of employees, period average 38 42 38 45 41 Number of shares before dilution 89,332,027 59,554,685 89,332,027 59,554,685 59,554,685 Number of shares after dilution 89,892,388 59,629,685 89,892,388 59,629,685 59,929,092 Average number of shares before dilution 89,332,027 49,715,925 82,257,852 49,715,925 58,722,551 Average number of shares after dilution 89,892,388 49,790,925 82,775,818 49,790,925 59,098,828 Per share data, SEK Profit/loss per share before dilution -0.06 -0.16 -0.14 -0.48 -0.97 Profit/loss per share after dilution -0.06 -0.16 -0.14 -0.48 -0.96 Cash flow per share from operating activities -0.03 0.01 -0.08 0.04 -0.09 Equity per share before dilution 1.41 2.26 1.41 2.26 1.78 Equity per share after dilution 1.40 2.25 1.40 2.25 1.77 Dividend per share - - - - - Sales growth – The change in net sales compared with the year-earlier period expressed as a percentage. Operating margin, % – Operating profit/loss expressed as a percentage of net sales. Equity/assets ratio, % – Equity expressed as a percentage of total assets. Return on equity, % - Profit/loss for the period (rolling 12 months) divided by the average equity.. Profit/loss per share - Profit/loss for the period as a percentage of average number of shares. Cash flow per share from operating activities- Cash flow from operating activities as a percentage of average number of shares during the period Equity per share - Equity divided by number of shares at the end of the period.
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SyntheticMR AB (publ) Interim report April – June 2026 Parent Company Income Statement and Other Comprehensive Income 2nd quarter First half year Full year TSEK 2026 2025 2026 2025 2025 Operating income Net sales 6,349 8,739 12,385 17,394 37,698 Own work capitalized 555 818 1,068 2,082 2,936 Other income 377 1,015 1,463 1,067 2,103 Total income 7,281 10,572 14,915 20,543 42,737 Operating expenses Other external expenses -5,595 -6,697 -11,221 -15,130 -59,118 Employee benefit expenses -5,769 -6,199 -11,676 -12,256 -22,517 Depreciation and impairment of tangible and intangible assets -1,805 -1,583 -3,858 -3,151 -6,328 Other operating expenses -67 -986 -436 -2,864 -3,614 Operating profit -5,955 -4,893 -12,276 -12,858 -48,839 Result from financial items Result from financial income/expense, net 365 -822 288 -3,228 -3,535 Profit for the period before tax -5,590 -5,715 -11,988 -16,087 -52,375 Tax on profit for the period - - - - - Net profit for the period -5,590 -5,715 -11,988 -16,087 -52,375 Statement of comprehensive income Net profit for the period -5,590 -5,715 -11,988 -16,087 -52,375 Comprehensive income for the period -5,590 -5,715 -11,988 -16,087 -52,375 Earnings per share before dilution, SEK -0.06 -0.11 -0.13 -0,48 -0.89 Earnings per share after dilution, SEK -0.06 -0.11 -0.13 -0,48 -0.89
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SyntheticMR AB (publ) Interim report April – June 2026 Parent Company Balance Sheet Assets, equity and liabilities ASSETS TSEK 2026-06-30 2025-06-30 2025-12-31 Fixed assets Capitalized development expenditure 19,131 23,765 21,615 Patent 945 1,089 1,168 Equipment and fittings 190 317 253 Shares in subsidiaries 49,987 49,987 49,987 Total fixed assets 70,253 75,158 73,022 Current assets Accounts receivable 5,457 9,927 7,045 Current tax assets - - - Other receivables 1,327 1,626 1,090 Receivables from Group companies 25,711 27,508 18,692 Contract assets 15,327 32,523 14,488 Prepaid expenses and accrued income 2,761 2,487 2,449 Cash and bank balances 19,032 11,126 3,653 Total current assets 69,615 85,196 47,416 TOTAL ASSETS 139,868 160,353 120,439 EQUITY AND LIABILITIES Restricted equity Share capital 1,983 1,322 1,322 Fund for development expenditures 20,076 24,854 22,783 Unrestricted equity Share premium reserve 160,579 130,076 130,076 Other contributed capital 4,283 4,283 Retained earnings -48,291 -770 1,350 Profit for the period -11,988 -16,087 -52,375 Total shareholders’ equity 126,642 139,395 107,439 Non-current liabilities Convertible loans - 4,283 - Total non-current liabilities - 4,283 - Current liabilities Accounts payable 2,897 3,788 2,638 Other liabilities 640 813 912 Liabilities from Group companies - - - Accrued expenses and prepaid income 9,688 12,074 9,450 Total current liabilities 13,226 16,675 13,000 TOTAL EQUITY AND LIABILITIES 139,868 160,353 120,439
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SyntheticMR AB (publ) Interim report April – June 2026 Accounting policies SyntheticMR applies the International Financial Reporting Standard (IFRS) as approved by the EU. This interim report for the Group has been prepared in accordance with IAS 34 Interim Financial Reporting and applicable provisions in the Annual Accounts Act. The interim report for the parent company has been prepared in accordance with RFR 2, accounting for legal entities, and Chapter 9 of the Annual Accounts Act, Interim Report. The same accounting principles and calculation bases have been applied as in the most recent annual report, for more information see: applied accounting and valuation principles in the annual report for 2025. The parent company's and the group's reporting and functional currency is Swedish kronor. All amounts in the interim report are, unless otherwise stated, presented in thousands of kronor. Rounding effects may occur. When preparing the interim report, Group management is required to make assessments and estimates as well as make assumptions that affect SyntheticMR's results and position, as well as other information provided. Management evaluates these on an ongoing basis based on historical experience and expectations of future events that are considered reasonable under current conditions. The estimates for accounting purposes that result from these will, by definition, seldom correspond to the actual result. See the Group's annual report for 2025 for more information on estimates and assessments. Disclosures in accordance with IAS 34. 16A appear not only in the financial statements but also in other parts of the interim report. In addition to financial data defined in IFRS, specific key figures are presented, so-called alternative key figures to reflect the results of the underlying business and increase comparability between different periods. These alternative key ratios do not replace financial data as defined in IFRS. New standards, amendments and interpretations applied by the Group as of January 1, 2026 SyntheticMR has made the assessment that new and amended standards and interpretations that entered into force during the financial year 2026 have no effect on the Group's financial reports. IFRS 18 replaces IAS 1 Presentation of Financial Statements, and introduces new requirements that will contribute to achieving comparability of financial performance in similar companies and provide more relevant information and transparency to users. The new standard has not been early applied in the preparation of these financial statements. Management is currently evaluating in more detail the implications of applying the new standard to the Group’s financial statements. The mandatory effective date of the new standard is 1 January 2027, and retrospective application will be required. There are no other IFRS standards that have not yet entered into force that are considered to have a material impact on the Group. Segment reporting An operating segment is a part of the Group that conducts operations from which it can generate revenue and incur costs and for which independent financial information is available. The result of an operating segment is further monitored by SyntheticMR's highest CEO, which the Group identifies as the CEO. Group management has determined the segments based on the information processed by the CEO and used as a basis for allocating resources and evaluating results. In this internal reporting, the Group constitutes a segment.
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SyntheticMR AB (publ) Interim report April – June 2026 Net sales distribution The Group receives its revenue from the transfer of licenses as well as service and support that takes place at a certain time or over time. The income of the Group is distributed as follows. 2nd quarter First half year Full year TSEK 2026 2025 2026 2025 2025 Geographical market Americas 4,764 6,101 10,576 11,562 21,756 Europe 3,298 4,670 7,314 9,919 23,879 APAC 5,929 1,627 9,193 5,162 11,412 Total 13,991 12,398 27,084 26,644 57,048 Major service lines Licenses 13,271 11,501 25,819 25,055 54,221 Service and Support 720 897 1,265 1,589 2,827 Total 13,991 12,398 27,084 26,644 57,048 Timing of revenue recognition Licenses transferred at a point in time 9,263 9,044 17,817 19,741 41,350 Licenses transferred over time 4,008 2,457 8,002 5,314 12,871 Services transferred over time 720 897 1,265 1,589 2,827 Total 13,991 12,398 27,084 26 644 57,048 Financial instruments The Group holds the following financial assets and liabilities. All are valued at amortized cost. The fair value of financial assets and liabilities, which is reported at amortized cost is deemed to correspond in all material respects to its fair value. TSEK 2026-06-30 2025-06-30 2025-12-31 Financial assets valued at amortized costs Cash and cash equivalents 28,343 19,406 7,367 Accounts receivables 20,640 18,474 14,071 Other financial assets 2,411 2,674 1,849 Total 51,393 40,553 23,917 Financial liabilities valued at amortized costs Accounts payable 3,243 4,415 3,427 Lease liability 2,751 2,811 2,279 Other liabilities 4,115 4,906 3,728 Total 10,109 12,132 9,434
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SyntheticMR AB (publ) Interim report April – June 2026 SyntheticMR in brief SyntheticMR, a recognized market leader in imaging and AI solutions targeting brain MRI quantification (Signify Research, 2024), enhances diagnostic accuracy and streamlines clinical workflows across radiology, nuclear medicine, and neurology. Following the acquisition of Combinostics in 2025, SyntheticMR extends its offering to support early detection, diagnosis, and management of major neurological disorders, alongside advanced quantitative MRI solutions. SyMRI measures the absolute tissue properties to generate multiple contrast-weighted images, automated segmentation of imaging biomarkers, and quantitative data - all from a single MRI examination. This provides objective data that supports improved diagnosis, monitoring, and treatment. Complementing SyMRI, the cNeuro platform— originally developed by Combinostics—includes four AI-powered tools: cMRI, which quantifies MRI data; cPET, which analyzes PET images; cDAT, which interprets SPECT images using the DaTSCAN tracer; and cDSI, which supports differential diagnosis and indicates disease type using cognitive assessments, imaging data, and laboratory results. SyntheticMR product suite is sold directly through regional sales offices in the USA, Europe, India, Japan and South Korea as well as through a network of partners. Strategic partnerships include GE Healthcare, Siemens Healthineers, Philips Healthcare, Canon Medical systems, FUJIFILM Medical Systems, Sectra, TeraRecon, Floy, and deepc. SyntheticMR was founded in 2007 and is headquartered in Linköping, Sweden, with an additional office in Tampere, Finland. Strategy SyntheticMR’s ambition is to redefine diagnostic imaging by replacing conventional methods with world-class quantitative imaging and advanced AI-driven analysis, establishing its solutions as a global standard of care. With the integration of Combinostics, the company broadened its strategic focus to cover the entire patient care pathway—particularly for neurodegenerative diseases—by offering comprehensive, clinically validated tools for diagnosis and disease monitoring. The company maintains a strong presence in North America, Europe, Japan, India and South Korea. Through targeted regional marketing and an extensive partner network, SyntheticMR ensures effective market access and customer support. Its business model—based on time- limited licenses and subscription-based analysis services—supports recurring revenue and long- term customer engagement across its imaging and AI offerings. SyntheticMR has long-standing collaborations with leading global MRI manufacturers, including licensing and distribution agreements with GE Healthcare (since 2014), Philips Healthcare (since 2015), and Siemens Healthineers (since 2016). Partnerships with PACS providers such as FUJIFILM Medical Systems (since 2020) and Sectra (since 2013), further expand market reach. Combinostics adds strategic R&D collaborations in nuclear medicine—particularly with GE Healthcare—and cNeuro platform integrations with third-party solutions As an innovation-driven company with a strong scientific foundation and a customer-focused approach, SyntheticMR is dedicated to delivering clinically valuable solutions that improve efficiency, precision, and data-driven decision- making in healthcare. Through close collaboration with medical professionals and its Medical Advisory Board, the company continuously develops tools to address complex clinical challenges.
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SyntheticMR AB (publ) Interim report April – June 2026 Products SyMRI Neuro A conventional MRI exam typically involves multiple sequences, each producing a black-and- white contrast-weighted image based on an arbitrary grayscale. Radiologists then estimate tissue types and volumes visually. SyntheticMR's technology differs by measuring absolute tissue properties and generating parametric maps of anatomy. These maps form the basis for synthetically recreating contrast- weighted images, enabling faster assessments compared to conventional imaging. These parametric maps support advanced tissue analysis—such as evaluating cartilage in osteoarthritis—and automatic segmentation of gray and white matter in the brain. Faster Workflow MRI brain scans can take 40–60 minutes, leading to high costs and inconvenience for patients. SyntheticMR's technology reduces scan time by replacing certain sequences, which is especially beneficial in pediatric imaging, where sedation is often needed. This also improves resource efficiency and reduces waiting times. Adjustable Contrast Images SyMRI’s contrast images are generated from quantitative data, allowing post-exam contrast adjustments without recalling the patient. This flexibility enhances diagnostic efficiency and reduces workflow interruptions. Automatic Segmentation of Imaging Biomarkers SyMRI Neuro includes automatic segmentation and volume estimation of brain tissue, providing enhanced decision support for radiologists and clinicians. It segments white and gray matter as well as cerebrospinal fluid. Uniquely, it also offers segmentation and volume measurement of myelin—the insulating substance around axons— which is vital in pediatrics and neurodegenerative disease monitoring. Abnormal myelin values are linked to conditions such as Sturge-Weber syndrome, ADHD, and autism, and are relevant in diseases like multiple sclerosis (MS) and dementia. SyMRI Neuro also calculates Brain Parenchymal Fraction (BPF) to monitor brain atrophy. Physicians can mark and quantify volumes in tumors or lesions, enabling quicker diagnosis and improved follow-up. SyMRI MSK SyMRI MSK SPINE and SyMRI KNEE allow for detailed anatomical imaging from a single rapid scan. This produces multiple contrast-weighted images as well as quantitative T1, T2, and PD maps for clinical use and advanced research. It streamlines workflow while generating valuable anatomical insights. cNeuro As imaging becomes more integral to healthcare, automated quantification is essential for improving throughput, consistency, and the detection of subtle changes. With growing patient data and disease understanding, collaboration among specialists using integrated tools is key to delivering consistent, high-quality care. cMRI – Quantification of MRI Images cMRI quantifies numerous imaging biomarkers to assess atrophy and vascular burden using T1 and T2-FLAIR sequences. It calculates volumes for over 200 brain regions and provides disease- specific scores such as the medial temporal lobe atrophy index and the midbrain-to-pons ratio. cPET – Quantification of PET Images cPET quantifies PET tracer uptake across brain regions, supporting FDG scans to detect reduced glucose metabolism and amyloid PET scans for identifying amyloid buildup. It also estimates centiloids—a standardized measure for amyloid positivity—helping diagnostics and guide treatment decisions in Alzheimer’s disease. cDAT – Quantification of DaTSCAN Images DaTSCAN imaging visualizes dopamine transporter loss using SPECT. cDAT quantifies striatal binding ratios to support diagnoses of Parkinson’s disease and differentiate it from conditions like essential tremor and dementia with Lewy bodies.
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SyntheticMR AB (publ) Interim report April – June 2026 cDSI – Clinical Decision Support in Dementia cDSI combines cognitive, imaging, and lab data and compares it against large patient datasets. Using machine learning, it calculates a Disease State Index (DSI) to assess how well a patient's profile matches conditions such as Alzheimer’s, frontotemporal dementia, vascular dementia, or cognitively normal profiles. It also predicts the likelihood of progression from mild cognitive impairment to dementia. All cNeuro tools produce structured reports and feature an intuitive interface for detailed result review. Imaging biomarkers and test results are benchmarked against age- and sex-matched healthy controls (in cMRI, cPET, and cDAT) or diagnostic groups (in cDSI), supporting a comprehensive, data-driven approach to diagnosis and care planning.
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SyntheticMR AB (publ) Interim report April – June 2026 Review This report has not been reviewed by SyntheticMR’s auditors. Financial Calendar Interim report Jan-Sep 2026 – Nov 25th, 2026. Year-End report Jan-Dec 2026 – Feb 16th, 2027. Annual General Meeting 2026 – May 26th, 2026. Interim report Jan-Mar 2026 – May 26th, 2026. For further information Lena Åredal, CEO Email: lena.aredal@syntheticmr.com Tel: +46 76 770 99 08 Johanna Norén, CFO and Head of IR Email: johanna.noren@syntheticmr.com Tel: +46 70 619 21 00 This is a translation of the Swedish version of the report. When in doubt, the Swedish wording prevails. This disclosure contains information that SyntheticMR AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person set out above, on August 25th, 2026. The Board of Directors and the Managing Director ensure that this report has been prepared in accordance with generally accepted accounting principles and gives a true and fair view of the Parent company’s and the Group´s position and results and describes significant risks and uncertainties faced by the Parent company and by the Group Stockholm August 25th, 2026 SyntheticMR AB (publ) Board of Directors