Optomed Oyj : Interim Report, January – March 2026

About this update from Optomed Oyj Class A

‌Optomed Plc: Interim report January - March 2026 ‌January - March 2026 Revenue decreased by 16.7 percent to EUR 3.4 (4.0) million. Currency-adjusted revenue decrease was 15.4 percent. Devices segment revenue decreased by 30.2 percent to EUR 1.1 (1.5) million. Devices segment currency-adjusted revenue decrease was 26.8 percent. Software segment revenue decreased by 8.4 percent to EUR 2.3 (2.5) million. EBITDA amounted to EUR -0.7 (-0.7) million corresponding to -20.9 (-18.3) percent of revenue. Cash flow from operating activities amounted to EUR -1,432 (371) thousand. Consolidated cash and cash equivalents at the end of the period amounted to EUR 7.8 (9.7) million. Outlook unchanged: Optomed expects its full year 2026 revenue to grow compared to 2025. ‌Key figures EUR, thousand Q1/2026 Q1/2025 Change, % 2025 Revenue 3,351 4,021 -16.7% 17,096 Gross profit * 2,302 2,693 -14.5% 10,878 Gross margin % * 68.7% 67.0% 63.6% EBITDA -701 -737 4.9% -3,526 EBITDA margin *, % -20.9% -18.3% -20.6% Adjusted EBITDA * -701 -737 4.9% -3,526 Adjusted EBITDA margin *, % -20.9% -18.3% -20.6% Operating result (EBIT) -1,369 -1,341 -2.1% -6,042 Operating margin (EBIT) *, % -40.9% -33.3% -35.3% Adjusted operating result (EBIT) * -1,369 -1,341 -2.1% -6,042 Adjusted operating margin (EBIT margin) *, % -40.9% -33.3% -35.3% Net profit/ loss -1,101 -1,581 30.4% -6,640 Earnings per share -0.05 -0.08 34.2% -0.34 Cash flow from operating activities -1,432 371 -485.5% -2,482 Net Debt -6,430 -7,621 -15.6% -8,475 Net debt/ EBITDA (LTM) * 1.8 2.1 2.4 Net debt/ Adjusted EBITDA (LTM) * 1.8 2.6 2.4 Equity ratio * 75.8% 73.0% 75.1% R&D expenses personnel 384 266 44.6% 1,545 R&D expenses other costs 146 223 -34.4% 644 Total R&D expenses 531 489 8.5% 2,190 *) Alternative performance measures, see section Alternative Performance Measures for definitions and calculations. Optomed presents Adjusted EBITDA and Adjusted operating result as alternative performance measures to enhance comparability of business performance between reporting periods. ‌CEO Review Dear Shareholders, The first quarter of 2026 was soft in terms of revenue development, with Group revenue decreasing by 0.6 million to EUR 3.4 million. The decline was primarily driven by timing effects in both Segments. In the Devices segment, revenue declined year-on-year, primarily due to timing effects and uncertainty related to the Centers for Medicare & Medicaid Services (CMS) proposal to remove the diabetic eye exam from the HEDIS Star Rating measures and move to an outcome-based measure for diabetic eye exam screening adherence. This uncertainty which Optomed first learned about in January, related to screening reimbursement frameworks and payer practices, led some of our largest customers to postpone capital equipment purchases. During the quarter, Optomed actively engaged in dialogue together with industry stakeholders and relevant authorities. As a result, CMS maintained the diabetic eye exam's position among the HEDIS Star Rating measures, with confirmation received in early April. While this uncertainty impacted demand timing in Q1, we expect improved visibility following this decision. Despite this, Optomed USA continued to grow during the quarter, driven by Aurora AEYE. This supports our view that underlying demand, particularly for AI-enabled screening solutions, remains intact. Outside the US, revenue declined both in Rest of the World and in OEM deliveries. We view this primarily as short-term fluctuation following a particularly strong fourth quarter, rather than a structural change in demand. At the same time, gross margins in the Devices segment improved from 58.8% of the comparison period to 62.7 % supported by high margin AI revenue, demonstrating resilience despite volume volatility. The Software segment declined modestly during the quarter. This was primarily due timing effects of various software deliveries. The EBITDA margin stabilized to 20.9% following Q4-2025 which was affected by one-off costs. In Aurora AEYE, progress during the quarter was related to both structural readiness and volume development. Following the completion of ISO 27001 certification and key EHR integrations, key barriers to broader US deployment have been addressed. Sales cycles remain long, particularly in the US primary care market, but the removal of these prerequisites is expected to support improved conversion dynamics over time. This was our strongest quarter ever for Aurora AEYE new subscription sales. From a profitability perspective, EBITDA improved slightly year-on-year despite lower revenue, supported by improved margins driven by AI revenue and on the other hand, reflecting continued cost discipline. At the same time, operating profit remained negative and broadly stable, indicating that further improvement in profitability is dependent on revenue growth. From a cost perspective, we continued to focus on operational discipline. Operating expenses decreased year-on-year, reflecting efficiency measures implemented during 2025, while we continue to prioritize investments in devices and AI-enabled screening. The Group's financial position remains solid. Cash and cash equivalents amounted to EUR 7.8 million at the end of the period, providing sufficient flexibility to execute the current strategy without near-term financing needs. The China joint venture continues to progress according to plan, although the opportunity remains binary and no substantial material revenue contribution is expected in the near term. In addition, discussions regarding potential collaboration with a global pharmaceutical partner are ongoing, and Optomed is building the ESG reporting capabilities required by the partner. Visibility remains limited in the near term. Uncertainty related to currency movements, tariffs, political turbulence, and customer decision timelines particularly in the US primary care market continues to impact demand timing. Against this backdrop, the Company maintains a prudent approach to its full-year guidance and continues to expect revenue to grow in 2026 compared to 2025. While short-term development remains uneven, we believe Optomed's positioning in handheld devices and AI-enabled screening is fundamentally unchanged. Our focus remains on disciplined execution, transparency, and building a more predictable growth trajectory over time. Sincerely, Juho Himberg CEO ‌Outlook 2026 Optomed expects its full year 2026 revenue to grow compared to 2025. ‌Telephone conference A telephone conference for analysts, investors and media will be arranged on 6 May 2026 at 11.00 EET, (10.00 CET). The event will be held in English. The presentation material will be available at https://www.optomed.com/investors 10.00 EET at the latest. The participants are requested to register for the call-in advance by email to [email protected] . Please see the call-in numbers below: FI +358 9 856 263 00 SE +46 8 505 218 52 UK +44 20 3321 5273 US +1 646 838 1719 FR +33 1 70 99 53 92 The conference id is 678 554 828# Please note that by dialing into the conference call, the participant agrees that personal information such as name and company name will be collected. ‌Group performance ‌January - March 2026 In January - March 2026, Group revenue decreased by 16.7 percent to EUR 3,351 (4,021) thousand. Currency-adjusted revenue decrease was 15.4 percent. Devices segment's revenue decreased by 30.2 percent to EUR 1,065 (1,526). Software segment's revenue decreased by 8.4 percent to EUR 2,285 (2,496). The decline was primarily driven by timing effects in both Segments. The gross margin increased to 68.7 percent from 67.0 percent last year. EBITDA amounted to EUR -701 (-737) thousand EBIT was EUR -1,369 (-1,341) thousand. Net financial items amounted to EUR 250 (-259) thousand and consisted mainly of interest income from credit institutions and exchange rate differences between the Chinese renminbi and the US dollar against the euro. ‌Cash flow and financial position ‌January - March 2026 In January - March 2026, the cash flow from operating activities amounted to EUR -1,432 (371) thousand. Net cash used in investing activities was EUR -503 (-781) thousand and relates to capitalized development expenses. Net cash from financing activities amounted to EUR -244 (-357) thousand. Consolidated cash and cash equivalents at the end of the period amounted to EUR 7,752 (9,688) thousand. Interest-bearing net debt was EUR -6,430 (-7,621) thousand at the end of the period. Net working capital was EUR 1,514 (188) thousand at the end of the period. ‌Devices segment Optomed has two synergistic business segments: Devices and Software. The Devices segment develops, commercializes, and manufactures easy-to-use, and affordable handheld fundus cameras, that are suitable for any clinic for screening of various eye diseases, such as diabetic retinopathy, glaucoma and AMD (Age Related Macular Degeneration). EUR, thousand Q1/2026 Q1/2025 Change, % 2025 Revenue 1,065 1,526 -30.2% 7,620 Gross profit * 668 897 -25.6% 4,255 Gross margin % * 62.7% 58.8% 55.8% EBITDA -348 -297 -17.0% -438 EBITDA margin *, % -32.7% -19.5% -5.7% Operating result (EBIT) -811 -684 -18.4% -2,119 Operating margin (EBIT) *, % -76.1% -44.9% -27.8% *) Alternative performance measures, see section Alternative Performance Measures for definitions and calculations. ‌January - March 2026 In January - March 2026, the Devices segment revenue decreased by 30.2 percent to EUR 1,065 (1,526) thousand. Devices segment currency-adjusted revenue decrease was 26.8 percent. Optomed USA continued to grow during the quarter, driven by Aurora AEYE. Revenue declined both in Rest of the World and in OEM channels. The gross margin was 62.7 (58.8) percent. The increase was supported by Aurora AEYE sales. EBITDA was EUR -348 (-297) thousand or -32.7 (-19.5) percent of revenue. Operating expenses decreased as a result of a continued focus on operational efficiency. ‌Software segment Optomed has two synergistic business segments: Devices and Software. The Software segment develops and commercializes screening software for diabetic retinopathy and cancer screening for healthcare organizations. The segment also distributes off-the-shelf products from selected partners to supplement its own solutions and expertise and provides software consultation to support the Devices segment screening solution projects. EUR, thousand Q1/2026 Q1/2025 Change, % 2025 Revenue 2,285 2,496 -8.4% 9,475 Gross profit * 1,634 1,796 -9.0% 6,623 Gross margin % * 71.5% 72.0% 69.9% EBITDA 477 521 -8.5% 1,281 EBITDA margin *, % 20.9% 20.9% 13.5% Operating result (EBIT) 273 306 -10.7% 453 Operating margin (EBIT) *, % 11.9% 12.3% 4.8% *) Alternative performance measures, see section Alternative Performance Measures for definitions and calculations. ‌January - March 2026 In January - March 2026 the Software segment revenue decreased by 8.4 percent to EUR 2,285 (2,496) thousand. Both Healthcare and Consulting businesses declined slightly during the quarter. Gross margin was 71.5 (72.0) percent. EBITDA was EUR 477 (521) thousand or 20.9 (20.9) percent of revenue. ‌Group-wide expenses Group-wide expenses relate to functions supporting the entire group such as treasury, group accounting, marketing, legal, HR, and IT. ‌January - March 2026 Group-wide operating expenses amounted to EUR 832 (962) thousand. ‌Personnel Number of personnel at the end of the reporting period. 3/2026 3/2025 12/2025 Devices 43 48 42 Software 48 51 50 Group common 19 19 19 Total 110 118 111 ‌Corporate Governance Optomed complies with Finnish laws and regulations, Optomed's Articles of Association, the rules of Nasdaq Helsinki and the Finnish Corporate Governance Code 2025 issued by the Securities Market Association of Finland. The code is publicly available at http://cgfinland.fi/en/ . Optomed's corporate governance statement 2025 is available on the company website www.optomed.com/investors/. ‌Annual General Meeting Optomed's Annual General Meeting will be held on Friday, 8 May 2026 at 10:00 a.m. (EEST) at Life Science Center Keilaniemi, Keilaranta 16 C, FI-02150 Espoo, Finland. The reception of those who have registered for the meeting and the distribution of voting tickets will commence at 9:30 a.m. (EEST). The invitation and other material are available at https://www.optomed.com/investors/ general-meeting-2026/ ‌Shares and shareholders The Company has one share series with all shares having the same rights. At the end of the review period Optomed Plc's share capital consisted of 21,453,297 shares and the Company held 22,042 shares in the treasury which approximately corresponds to 0.1 percent of the total amount of the shares and votes. Additional information with respect to the shares, shareholding and trading can be found on the Company's website https://www.optomed.com/investors/ . ‌Flagging notifications On 27 February 2026, Optomed announced that has received a notification in accordance with the Chapter 9, Section 5 of the Finnish Securities Markets Act (as amended, the "SMA") from OP-Rahastoyhtiö Oy ("Notifier"). According to the notification, the total holdings in Optomed shares and votes held the by the Notifier is 4.99 per cent of all of the registered shares in Optomed on 25 February 2026. ‌Risks and uncertainties The key risks and uncertainties are described in the company's Annual Report 2025 which was published on 25 February 2026. The complete report is available at https://www.optomed.com/investors/ . ‌Audit review This financial report has not been audited by the company's auditors. ‌Financial reporting in 2026 Half-Year Financial Report for 1 January - 30 June 2026, 14 August 2026 Interim Report for 1 January - 30 September 2026, 6 November 2026 ‌For more information, contact Sakari Knuutti, CFO E-mail: [email protected] Juho Himberg, CEO E-mail: [email protected] ‌About Optomed Optomed is a Finnish medical technology company and one of the leading providers of handheld fundus cameras. Optomed combines handheld fundus cameras with software and artificial intelligence with the aim to transform the diagnostic process of various eye diseases, such as rapidly increasing diabetic retinopathy. In its business Optomed focuses on eye screening devices and software solutions related R&D in Finland and sales through different channels in over 60 countries. https://www.optomed.com ‌Alternative Performance Measures Optomed uses certain alternative performance measures (APMs) with the purpose to provide a better understanding of how the business develops. These APMs, as defined, cannot be fully compared with other companies' APMs. Alternative Performance Measures Definition Gross profit Revenue + Other operating income - Materials and services expenses Gross margin, % Gross profit / Revenue EBITDA Operating result before depreciation, amortization and impairment losses EBITDA margin, % EBITDA / Revenue Operating result Profit/loss after depreciation, amortization and impairment losses Operating margin, % Operating result / Revenue Adjusted operating result Operating result excluding items affecting comparability Adjusted operating margin, % Adjusted operating result / Revenue Adjusted EBITDA EBITDA excluding items affecting comparability Adjusted EBITDA margin, % Adjusted EBITDA / Revenue Items affecting comparability Material items outside ordinary course of business including restructuring costs, net gains or losses from sale of business operations or other non-current assets, strategic development projects, external advisory costs related to capital reorganisation, impairment charges on non-current assets incurred in connection with restructurings, compensation for damages and transaction costs related to business acquisitions. Net Debt Interest-bearing liabilities (borrowings from financial institutions, government loans and subordinated loans) - cash and cash equivalents (excl. lease liabilities according to IFRS 16) Net Debt / EBITDA (LTM), times Net Debt / EBITDA (for the last twelve months, LTM) Net Debt / Adjusted EBITDA (LTM), times Net Debt / Adjusted EBITDA (for the last twelve months, LTM) Earnings per share Net result / Weighted average number of outstanding shares Equity ratio, % Total equity / Total assets R&D expenses Employee benefit expenses for R&D personnel and other operational expenses related to R&D activities including activations. ‌Consolidated income statement In thousands of euro Q1/2026 Q1/2025 2025 Revenue 3,351 4,021 17,096 Other operating income 2 0 5 Materials and services -1,050 -1,328 -6,222 Employee benefit expenses -2,253 -2,380 -9,950 Depreciation, amortization and Impairment losses -668 -604 -2,516 Other operating expenses -751 -1,050 -4,454 Operating result -1,369 -1,341 -6,042 Finance income 328 69 580 Finance expenses -78 -327 -1,256 Net finance expenses 250 -259 -676 Profit (loss) before income taxes -1,120 -1,599 -6,718 Income tax expense 19 19 77 Loss for the period -1,101 -1,581 -6,640 Loss for the period attributable to Owners of the parent company -1,101 -1,581 -6,640 Weighted average number of shares 20,253,693 19,145,703 19,810,521 Basic loss per share (euro) -0.05 -0.08 -0.34 ‌Consolidated condensed comprehensive income statement In thousands of euro Q1/2026 Q1/2025 2025 Loss for the period -1,101 -1,581 -6,640 Other comprehensive income Foreign currency translation difference -227 286 855 Other comprehensive income, net of tax -227 286 855 Total comprehensive loss attributable to Owners of the parent company -1,328 -1,294 -5,785 ‌Consolidated balance sheet In thousands of euro March 31, 2026 March 31, 2025 December 31, 2025 ASSETS Non-current assets Goodwill 4,256 4,256 4,256 Development costs 8,670 8,487 8,739 Customer relationships 443 665 499 Technology 204 305 229 Other intangible assets 362 352 365 Total intangible assets 13,935 14,066 14,089 Tangible assets 1,028 857 894 Right-of-use assets 1,128 1,383 1,212 Deferred tax assets 13 12 13 Total non-current assets 16,104 16,318 16,208 Current assets Inventories 2,781 1,713 2,382 Trade and other receivables 3,347 3,046 3,474 Cash and cash equivalents 7,752 9,688 9,909 Total current assets 13,880 14,447 15,765 Total assets 29,985 30,765 31,973 In thousands of euro March 31, 2026 March 31, 2025 December 31, 2025 EQUITY Share capital 80 80 80 Share premium 504 504 504 Reserve for invested non-restricted equity 65,224 59,608 65,224 Translation differences 634 292 861 Retained earnings -42,624 -36,433 -36,012 Profit (loss) for the financial year -1,101 -1,581 -6,640 Total equity 22,717 22,470 24,016 LIABILITIES Non-current liabilities Borrowings from financial institutions 455 591 0 Government loans 375 489 371 Lease liabilities 763 949 835 Deferred tax liabilities 138 215 157 Total Non-current liabilities 1,731 2,243 1,363 Current liabilities Borrowings from financial institutions 314 794 789 Government loans 179 193 274 Lease liabilities 430 494 442 Trade and other payables 4,614 4,571 5,088 Total current liabilities 5,536 6,052 6,593 Total liabilities 7,267 8,295 7,956 Total equity and liabilities 29,985 30,765 31,973 ‌Consolidated statement of changes in shareholders' equity ‌Equity attributable to owners of the parent company In thousands of euro Share capital Share premium Reserve for invested non-restricted equity Translation differences Retained earnings Total Balance at January 1, 2026 80 504 65,224 861 -42,652 24,016 -1,101 -227 -1,328 28 Comprehensive income Loss for the period -1,101 Other comprehensive income Translation differences -227 Total comprehensive income -227 -1,101 for the period Share issue Share based payments Share options 28 Total transactions with owners of the company 28 28 Balance at March 31, 2026 80 504 65,224 634 -43,724 22,717 ‌Equity attributable to owners of the parent company In thousands of euro Share capital Share premium Reserve for invested non-restricted equity Translation differences Retained earnings Total Balance at January 1, 2025 80 504 59,608 6 -36,560 23,637 -1,581 286 -1,294 127 Comprehensive income Loss for the period -1,581 Other comprehensive income Translation differences 286 Total comprehensive income 286 -1,581 for the period Share issue Share based payments Share options 127 Total transactions with owners of the company 127 127 Balance at March 31, 2025 80 504 59,608 292 -38,014 22,470 ‌Equity attributable to owners of the parent company In thousands of euro Share capital Share premium Reserve for invested non-restricted equity Translation differences Retained earnings Total Balance at January 1, 2025 80 504 59,608 6 -36,560 23,637 Comprehensive income Loss for the period -6,640 -6,640 Other comprehensive income Translation differences 855 855 Total comprehensive 855 -6,640 income for the period -5,785 Transactions with owners of the company Share issue 5,565 5,565 Share based payments 51 51 Share options 549 549 Total transactions with owners of the company 5,616 549 6,165 Balance at December 31, 80 504 65,224 861 -42,652 2025 24,016 ‌Consolidated cash flow statement In thousands of euro Q1/2026 Q1/2025 2025 Cash flows from operating activities Loss for the financial year -1,101 -1,581 -6,640 Adjustments: Depreciation, amortization and impairment losses 668 604 2,516 Finance income and finance expenses -152 178 430 Other adjustments 43 107 537 Cash flows before change in net working capital -541 -692 -3,158 Change in net working capital: Change in trade and other receivables (increase (-) / decrease (+)) 141 140 -483 Change in inventories (increase (-) / decrease (+)) -405 232 -492 Change in trade and other payables (increase (+) / decrease (-)) -623 730 1,701 Cash flows before finance items -1,429 410 -2,431 Interest paid -11 -19 -54 Other finance expenses paid -25 -63 -112 Interest received 32 43 115 Net cash from operating activities (A) -1,432 371 -2,482 Cash flows from investing activities Capitalization of development expenses -305 -494 -1,796 Acquisition of tangible assets -199 -287 -561 Net cash used in investing activities (B) -503 -781 -2,357 Cash flows from financing activities Proceeds from share subscriptions 0 0 5,984 Share issue transaction costs 0 0 -419 Repayment of loans and borrowings -112 -230 -863 Repayment of lease liabilities -132 -127 -517 Net cash from financing activities (C) -244 -357 4,186 Net cash from (used in) operating, investing and financing activities (A+B+C) -2,179 -767 -653 Cash and cash equivalents at beginning of period 9,909 10,467 10,467 Effect of movements in exchange rate on cash held 22 -12 95 Cash and cash equivalents at end of period 7,752 9,688 9,909 ‌Selected notes ‌Corporate information and basis of accounting Corporate information Optomed is a Finnish medical technology group (hereafter 'Optomed' or 'Group') that specialises in handheld fundus cameras and solutions for screening of blinding eye diseases, established in 2004. The Group's parent company, Optomed Plc (hereafter the 'Company'), is a Finnish public limited liability company established under the laws of Finland, and its business ID is 1936446-1. It is domiciled in Oulu, Finland and the Company's registered address is Yrttipellontie 1, 90230 Oulu, Finland. Basis of accounting Optomed's consolidated financial statements has been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union. The preparation of this interim report also takes into account the amendments to IFRS standards that have become effective by January 1, 2026. This Interim financial statement is prepared in accordance with IAS 34 Interim Financial Reporting and should be read in conjunction with Group`s last annual consolidated financial statements as at and for the year ended 31 December 2025. These interim financial statements do not include all of the information required by IAS 34: selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group`s financial position and performance since the last annual financial statements. All presented figures have been rounded so the sum of the individual figures may differ from the presented total figure. Financial ratios have been calculated using exact figures. ‌Reportable segments ‌Q1/2026 In thousands of euro Devices Software Group Admin Total External revenue 1,065 2,285 0 3,351 Net operating expenses -397 -651 0 -1,048 Margin 668 1,634 0 2,302 Depreciation and amortization -462 -204 -2 -668 Other expenses -1,016 -1,157 -830 -3,004 Operating result -811 273 -832 -1,369 Finance items 0 0 250 250 Profit/Loss before tax expense -811 273 -582 -1,120 ‌Q1/2025 In thousands of euro Devices Software Group Admin Total External revenue 1,526 2,496 0 4,021 Net operating expenses -628 -700 0 -1,328 Margin 897 1,796 0 2,693 Depreciation and amortization -387 -215 -2 -604 Other expenses -1,195 -1,275 -960 -3,430 Operating result -684 306 -962 -1,341 Finance items 0 0 -259 -259 Profit/Loss before tax expense -684 306 -1,221 -1,599 ‌2025 In thousands of euro Devices Software Group Admin Total External revenue 7,620 9,475 0 17,096 Net operating expenses -3,365 -2,853 0 -6,217 Margin 4,255 6,623 0 10,878 Depreciation and amortization -1,682 -828 -6 -2,516 Other expenses -4,693 -5,342 -4,369 -14,404 Operating result -2,119 453 -4,375 -6,042 Finance items 0 0 -676 -676 Profit/Loss before tax expense -2,119 453 -5,051 -6,718 ‌Disaggregation of revenue ‌Geographical distribution In thousands of euro Q1/2026 Q1/2025 2025 Finland 2,201 2,416 9,149 Rest of the Europe 298 367 1,406 Rest of the World 852 1,238 6,540 Total 3,351 4,021 17,096 ‌Distribution by revenue recognition date In thousands of euro Q1/2026 Q1/2025 2025 Products and services transferred at a point in time 2,029 61% 2,937 73% 12,401 73% Services transferred over time 1,322 39% 1,084 27% 4,694 27% Total 3,351 4,021 17,096 Effective Q1 2026, certain Software Segment revenue items have been reclassified from 'Services transferred over time' to 'Products and services transferred at a point in time'. The change affects presentation only and has no impact on total revenue. Comparative information has been adjusted accordingly. For reference, Services transferred over time for Q4 2025 would have been EUR 1,294 thousand, Q3 2025 EUR 1,128 thousand and Q2 2025 EUR 1,187 thousand. Products and services transferred at a point in time would have been EUR 3,517 thousand for Q4 2025, EUR 3,289 thousand for Q3 2025, and EUR 2,658 thousand for Q2 2025. ‌Advances Received and Deferred Revenue In thousands of euro March 31, 2026 March 31, 2025 December 31, 2025 Trade receivables 2,562 2,155 2,756 Assets related to customer contracts 2,562 2,155 2,756 Advances received 153 90 133 Deferred Revenue 596 445 545 Liabilities related to customer contracts 749 535 678 ‌Other operating expenses Other operating expenses Q1/2026 Q1/2025 2025 Sales and marketing -128 -178 -874 Research and development -99 -156 -413 General and administration -524 -717 -3,167 Total operating expenses -751 -1,050 -4,454 Other operating expenses also comprise changes in expected credit losses and realized credit losses. ‌Exposure to credit risk and loss allowance In thousands of euro Gross carrying amount Weighted av. loss rate% Loss allowance At March 31, 2026 Current (not past due) 1,736 0.5% 9 Past due 1-30 days 198 1.5% 3 31-60 days 145 4% 6 61-90 days 107 9% 10 More than 90 days past due 457 12% 55 Total 2,644 82 In thousands of euro Gross carrying amount Weighted av. loss rate% Loss allowance At March 31, 2025 Current (not past due) 1,839 0.5% 9 Past due 1-30 days 234 1.5% 4 31-60 days 68 4% 3 61-90 days 17 9% 2 More than 90 days past due 15 12% 2 Total 2,173 19 In thousands of euro Gross carrying amount Weighted av. loss rate% Loss allowance At December 31, 2025 Current (not past due) 2,200 0.5% 11 Past due 1-30 days 78 1.5% 1 31-60 days 71 4% 3 61-90 days 272 9% 24 More than 90 days past due 199 12% 24 Total 2,819 63 ‌Financial liabilities In thousands of euro March 31, 2026 March 31, 2025 December 31, 2025 Non-current financial liabilities Borrowings from financial institutions 455 591 0 Government loans 375 489 371 Lease liabilities 763 949 835 Total 1,593 2,029 1,206 Current financial liabilities Borrowings from financial institutions 314 794 789 Government loans 179 193 274 Lease liabilities 430 494 442 Trade payables 1,013 1,392 1,159 Total 1,935 2,873 2,664 Total financial liabilities 3,528 4,901 3,870 Optomed has renegotiated its OP loans and government loans payment terms. Based on the decisions received government loans were extended two years and OP loans 6 to 12 months. Fair values - financial liabilities measured at amortized cost. Optomed considers that the carrying amounts of the financial liabilities measured at amortized cost substantially equal to their fair values. ‌Events after the review period No material events after the review period.

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