CrayoNano AS 2Q 2021 Financial update

Trondheim, Norway (CNANO): The unaudited accounts for the second quarter 2021 have been released and are available on the company website. CrayoNano has not yet released its technology to the market and revenue relates to public funding.

The accounts show a negative net profit of NOK 6.8 MNOK and a negative cash flow for the quarter of 13.4 MNOK vs a negative 3.8 MNOK and a positive 9.4 MNOK for the 2Q 2020 respectively. As part of the planned ramp up the payroll and other operating costs increased to NOK 9,9 in 2Q 2021 compared to NOK 4.5 million in 2Q 2020. Major investments include PPE and capitalized development cost of 3.0 MNOK vs 2.1 MNOK in 2Q 2020.

The Company has a robust cash position of NOK 103,2 million at the end of Q2. After closing of the quarter CrayoNano has received the first part of the EIC grant amounting to 13,7 MNOK strengthening the financial position further. Next payout from EIC is expected early 2022.

The total equity is NOK 167.4 million with an equity ratio of 86%.

Total number of shares fully diluted is 30 715 841 hence earnings pr share fully diluted is -NOK 0.22.

CrayoNano will distribute an operational update and hold an investor presentation second half of September 2021.


CFO of CrayoNano, Bård Skogstad
Mobile: +47 72 90 98 60

About CrayoNano

CrayoNano specializes in UV-C LED packaged chips for disinfection of water, surface and air based on a breakthrough, patented technology combining Graphene and nanostructures.

The company is headquartered in Trondheim, Norway applying a fab-lite model with a global supply-chain and world-wide footprint to provide our OEM customers new semiconductor devices that enable new industrial and consumer product solutions in health & safety, water purification, life science, white goods, and automotive industries. CrayoNano is registered on OTC in Norway under the ticker: CNANO.