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Regulatory press release

Quarterly report Q3 2022: Reduced costs, maintained turnover

Learning 2 Sleep
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  • Net sales for the period amounted to TSEK 881
  • EBITDA amounted to TSEK -3846
  • The balance sheet total amounted to TSEK 21011

Important events during the quarter

  • The company strengthens the cash register with a total of SEK 3.5 million via a convertible loan from existing owners
  • A savings package that, in the long run, provides SEK 500,000 in savings per month was implemented together with a concentration towards the Swedish market
  • Customer acquisition cost decreased by 70 percent relative to Q1 2022
  • A cooperation agreement was signed with the eating disorder company Progress Me regarding psychological support with a focus on profitable growth
  • Lina Johansson takes over as CEO on 1 September

Important events after the end of the quarter

  • The company is strengthening its finances with an additional SEK 3 million via a convertible loan to ensure the company's liquidity
  • KI completes the data collection regarding the Company's research study and the results exceed the Company's expectations with a 90.3 percent "success rate"

CEO's comment
The quarter has been marked by a fine development of the operative activities and a steady inflow of new patients, while the cost of marketing has been drastically reduced. This indicates that the Company strengthened its organic growth through increased brand awareness. However, the company has continued challenges in relation to cash flow, as the savings package that has been implemented will only take full effect in Q1 2023. The expected capital injection via the company's TO1 and TO2 instruments also did not provide the addition we had expected. We therefore have a close dialogue with some of our larger investors to ensure liquidity in the longer term. Despite an extensive savings package containing a reduced budget for marketing, turnover has been at basically the same level as in Q3 2021. Sleep problems continue to increase and today constitute one of the biggest health challenges of our time. Concerns about the economy and events in the outside world exacerbate the problem and we predict an increase in people seeking help for their sleep problems. At the same time, as a company, we see a need to broaden our operations to offer specialized interventions in other areas that pose major health challenges. Therefore, we are very happy to have started a collaboration with Progress Me, which works to prevent eating disorders.

Increased investment in "thought leadership"
We have continued our investment in reaching out to healthcare professionals and are seeing an increased number of patients applying based on a recommendation from their doctor or other healthcare professionals. We have also produced a number of knowledge compilations on subjects related to sleep and the importance of good sleep health aimed at healthcare professionals. In addition to this, we have launched the Sömnpodden, which is aimed at all people who want to learn more about sleep. Via the podcast, we reach out to potential patients and future partners and can build a relationship with the listeners while demonstrating a broad knowledge and competence in the field of sleep.

Positive results from the KI study
The data collection for the randomized controlled research study carried out in collaboration with Karolinska Institutet has been completed. The preliminary results exceed our expectations and show that 90.3 percent of the participants who underwent our treatment had a clinically significant improvement regarding symptoms of insomnia. When these results are put in relation to the results for similar treatments in Sweden, we can state that what we offer is by far the best. The final report will be published in Q4.

Symbio Me
Symbio Me offers an advanced intestinal flora analysis that can give people with recurring stomach problems answers to how these can be treated with, for example, probiotics. During the summer and early autumn we have to work on improving the service and refining the marketing. Symbio Me has now started with sales that are expected to increase during Q4.

Collaboration with Progress Me
In order to broaden the business' offer and use our structural capital around digiphysical care, we are starting a collaboration with Progress Me, which works to prevent eating disorders. The collaboration involves using our network of psychologists for Progress Me's users to be able to provide additional support to those who are at risk of eating disorders.

Lina Johansson
CEO
Learning 2 Sleep L2S AB (publ)

Contacts

For more information please contact:

Lina Johansson, VD
Mobil: 0709-243193
E-post: lina@learningtosleep.se

About Us

Learning to Sleep is a digital care provider specializing in the treatment of chronic sleep disorders. The treatment is a combination of a structured treatment program in a mobile application and weekly digital meetings with a psychologist. The company's treatment is based on the latest research in the field and is very successful - over 90 percent of the patients treated receive improved sleep. Sweden is the company's main market and the treatment is reimbuserd by public health care.
For more information see www.learningtosleep.co.uk
The company's Certified Adviser is Eminova Fondkomission AB | +468 684 211 10 | adviser@eminova.se

Statements about the future

This press release contains forward-looking statements that refer to the Company's intentions, assessments or expectations regarding the Company's future results, financial position, liquidity, development, prospects, expected growth, strategies and opportunities as well as the markets in which the Company operates. Forward-looking statements are statements that do not relate to historical facts and can be identified by the inclusion of expressions such as "believes", "expects", "anticipates", "intends", "estimates", "will", "may", "assumes", "should" "could" and, in each case, negations thereof, or similar expressions. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on additional assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there can be no assurance that they will occur or that they are accurate. As these assumptions are based on assumptions or estimates and are subject to risks and uncertainties, the actual result or outcome may, for many different reasons, differ materially from what appears in the forward-looking statements. Such risks, uncertainties, contingencies and other material factors may cause actual events to differ materially from the expectations expressed or implied in this press release through the forward-looking statements. The Company does not warrant that the assumptions underlying the forward-looking statements in this press release are correct and any reader of the press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements expressed or implied herein are provided only as of the date of this press release and are subject to change. Neither the Company nor anyone else undertakes to revise, update, confirm or publicly announce any revision of any forward-looking statement to reflect events occurring or circumstances occurring with respect to the contents of this press release, except as required by law or Nasdaq First North Growth Markets' regulations for issuers.

This information is information that Learning 2 Sleep is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-11-10 13:00 CET.

Attachments

Q3 2022 Final

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