First Quarter Report 2024 - Seite 2

The military communication capability will strengthen our position in the US and with Nato customers. In the past, communication to and from Raman instruments has been uncommon, but we are starting to see requirements for this now. Our software and connectivity focus has put us in pole position to grab these opportunities over the coming years. The military network communication module we added will make Serstech Arx mkII the first and only Raman product that can function in US military networks and with military infrastructure.

We expect to remain at or above our long-term goal of at least 50% growth per year on average over a five-year period. The market remains larger than normal, driven by the pent-up demand from the pandemic, the increasing narcotics problems, the war in Ukraine and the risk of war in other regions. In 2024, one of our focus areas is to reduce our COGS to allow a continued increase of our gross margins, while maintaining a similar fixed cost level as in 2023. We expect to be debt-free by September 2024 and based on the growing opportunity pipeline, we believe that we will continue to improve our net profitability over the coming years.

Stefan Sandor, CEO
April 2024

For further information, please contact:
Stefan Sandor,
CEO, Serstech AB Phone: [phone]
Email: [e-mail]

or

Thomas Pileby,
Chairman of the Board, Serstech AB Phone: [phone]
Email: [e-mail]
or visit: www.serstech.com

This is information that Serstech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 12:00 CET on April 29, 2024.

Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG).

About Serstech
Serstech delivers solutions for chemical identification and has customers around the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech’s head office is in Sweden and all production is done in Sweden.
Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at www.serstech.com

Attachment

• SERSTECH-Q1_2024