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Prolight reveals upbeat accounting revisions for 2023.

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TLDR:

  • Prolight Diagnostics announces positive accounting adjustments for the full year 2023 relating to research and development claims.
  • The revised estimate of Prolight’s claim is approximately SEK 5.6 million higher than previously reported.

The article discusses Prolight Diagnostics AB’s announcement regarding positive accounting adjustments for the full year 2023. The adjustments are related to an understated claim made to the UK tax authority regarding research and development. The revised estimate of Prolight’s claim is approximately SEK 5.6 million higher than originally reported. The mistake in the claim was discovered during the process of completing Prolight’s annual report for 2023. The company’s British subsidiary, Psyros Diagnostics, reported an understated estimate of the tax claim for 2023, falling short of the higher estimated amount.

CEO Ulf Bladin expressed regret over the oversight but highlighted that the revised estimate improves the results for 2023. The company’s annual report, which will include the corrected figures, is set to be published on April 23, 2024. The adjustment affects key figures in the group’s income statement and balance sheet as of December 31, 2023. The correction impacts items such as net sales, operating expenses, and the overall loss for the year. Additionally, the balance sheet shows changes in equity, provisions, and current liabilities due to the adjustment.

Prolight Diagnostics AB specializes in developing innovative Point-of-Care systems for in-vitro diagnostic tests. These systems are portable instruments used to perform tests quickly and reliably from a drop of blood. The company’s launch product focuses on measuring troponin for assisting in the diagnosis of myocardial infarction. Prolight Diagnostics AB is traded on the NGM Nordic SME marketplace under the ticker symbol PRLD. The information in the article is in compliance with the EU Market Abuse Regulation and was submitted for publication on April 18, 2024.

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