CrayoNano AS 4Q 2021 Financial Update

The unaudited accounts for the fourth quarter of 2021 have been released and are available on the company website - HERE. CrayoNano has not yet released its technology to the market and revenue thus relates to public funding.

The accounts show a net loss of 9.0 MNOK for the quarter and a negative cash flow of 16.4 NOK. Equivalent figures for 4Q 2020 were a net loss of 7.3 MNOK and a positive cash flow of 119.4 MNOK. There have been no financing activities in 4Q 2021. For FY2021, the accounts show a net loss of 32.1 MNOK and a negative cash flow of 32.2 MNOK, compared to a net loss of 19.8 MNOK and a positive cash flow of 123.2 MNOK in FY2020.

As part of the planned ramp up, the payroll and other operating costs increased to 11.9 MNOK in 4Q 2021 compared to 8.1 MNOK in 4Q 2020. From FY2020 to FY2021, the payroll and other operating costs increased from 22.3 MNOK to 42.9 MNOK, well within the planned operational ramp up. Net capitalized development cost was 4.8 MNOK in 4Q 2021, compared to 2.3 MNOK in 4Q 2020. For FY 2021 vs FY 2020, the equivalent figures were 16.6 MNOK and 9.0 MNOK.

The Company has a robust cash position of 100.1 MNOK per 31.12.2021, compared to 131.6 MNOK as of last year. Total equity per 31.12.2021 was 168.3 MNOK with an equity ratio of 81.4 %.

Total number of shares fully diluted is 30 690 841. Hence, earnings per share fully diluted is – 0.27 NOK for the quarter and – 1.02 NOK for FY 2021.

The webinar playback can be viewed for a limited time here, and the presentation can be found here.


CEO CrayoNano, Jo Uthus
Phone: +47 72 90 98 60

About CrayoNano

CrayoNano specializes in UVC 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.