Flerie AB (publ) (FLERIE) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, welcome everyone to FLIRi's Q3 2025 report presentation. I hope everybody has had a good morning and have got your coffee. We are in for a good ride to talk about several of our companies today. First, a disclaimer, of course, please act accordingly. A little reminder, of course, I think FLIR is well known now. We have 27 portfolio companies, 71% in private companies. You can see the division, six in preclinical stage, six in early clinical, nine in clinical stage and six in commercial. So actually, quite a significant over half of our number of companies are in late clinical or commercial stage. So quite a mature portfolio and certainly diversified portfolio. we operate as an evergreen investor as you know we're long term and we have a very specialized team and we always invest with others around the globe today of course we're talking about the q3 and it's all about reaching milestones and gaining traction for our portfolio companies that's what we're driven by and we know as well as any investor should, but not all do, that financing and R&D progress really go hand in hand. It's not enough to just have fantastic development in your companies. You've got to be out there networking, meeting others, and also ensuring that your companies get financed. So let's talk a little bit about examples of that. But first, our current net asset value is just shy of 4 billion crowns. That's 50.58 SEC per share. And we have cash and cash equivalents, about 13% of that novel 511 million. The significant events and the value changes during the quarter are listed here. I'll go through it briefly. SimCell and XSpray are really something to highlight. They're both closed deals. Of course, after the quarter, X-Pray has had a setback. We will talk about that as well. I'm ha...