Reported Earnings • May 06
First quarter 2026 earnings released: kr0.02 loss per share (vs kr0.013 loss in 1Q 2025) First quarter 2026 results: kr0.02 loss per share (further deteriorated from kr0.013 loss in 1Q 2025). Revenue: kr69.7m (up 1.4% from 1Q 2025). Net loss: kr1.19m (loss widened 56% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 34 percentage points per year, which is a significant difference in performance. Announcement • Apr 25
Vo2 Cap Holding AB (publ), Annual General Meeting, May 27, 2026 Vo2 Cap Holding AB (publ), Annual General Meeting, May 27, 2026, at 10:00 W. Europe Standard Time. Location: riddargatan 7a, stockholm, stockholm Sweden New Risk • Mar 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 9.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (kr152.6m market cap, or US$16.6m). Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to kr2.17, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 19x in the Capital Markets industry in Sweden. Total loss to shareholders of 69% over the past three years. New Risk • Feb 13
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 66% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (kr150.8m market cap, or US$16.8m). Reported Earnings • Feb 11
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: kr0.22 (up from kr0.94 loss in FY 2024). Revenue: kr343.8m (down 1.1% from FY 2024). Net income: kr11.5m (up kr63.6m from FY 2024). Profit margin: 3.4% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Capital Markets industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Board Change • Jan 14
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Board Member Ulrika Saxon was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Dec 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (kr141.0m market cap, or US$15.3m). Reported Earnings • Nov 04
Third quarter 2025 earnings: EPS exceeds analyst expectations Third quarter 2025 results: EPS: kr0.05 (up from kr0.87 loss in 3Q 2024). Revenue: kr84.8m (up 7.2% from 3Q 2024). Net income: kr2.94m (up kr52.3m from 3Q 2024). Profit margin: 3.5% (up from net loss in 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 10% growth forecast for the Capital Markets industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Nov 02
Consensus EPS estimates upgraded to kr0.31 loss The consensus outlook for fiscal year 2025 has been updated. 2025 losses forecast to reduce from -kr0.36 to -kr0.31 per share. Revenue forecast steady at kr306.0m. Capital Markets industry in Sweden expected to see average net income growth of 22% next year. Consensus price target of kr3.10 unchanged from last update. Share price rose 14% to kr2.40 over the past week. New Risk • Oct 23
New major risk - Revenue and earnings growth Earnings have declined by 77% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 77% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr122.7m market cap, or US$13.0m). New Risk • Jul 28
New major risk - Revenue and earnings growth Earnings have declined by 77% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 77% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr175.8m market cap, or US$18.3m). Reported Earnings • Jul 27
Second quarter 2025 earnings released: kr0.017 loss per share (vs kr0.033 loss in 2Q 2024) Second quarter 2025 results: kr0.017 loss per share (improved from kr0.033 loss in 2Q 2024). Revenue: kr79.1m (down 15% from 2Q 2024). Net loss: kr962.0k (loss narrowed 46% from 2Q 2024). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Capital Markets industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Jul 23
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from kr358.0m to kr327.0m. Now expected to report a loss of kr0.29 per share instead of kr0.11 per share profit previously forecast. Capital Markets industry in Sweden expected to see average net income growth of 11% next year. Consensus price target down from kr3.20 to kr3.10. Share price fell 2.0% to kr2.40 over the past week. Price Target Changed • Jul 21
Price target decreased by 8.1% to kr3.10 Down from kr3.38, the current price target is provided by 1 analyst. New target price is 27% above last closing price of kr2.45. Stock is down 15% over the past year. The company is forecast to post a net loss per share of kr0.29 next year compared to a net loss per share of kr0.94 last year. Recent Insider Transactions • Jun 22
Co-Founder & Chairman of the Board recently bought kr913k worth of stock On the 18th of June, Douglas Roos bought around 349k shares on-market at roughly kr2.62 per share. This transaction amounted to 52% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Douglas' only on-market trade for the last 12 months. Price Target Changed • May 21
Price target decreased by 9.9% to kr3.20 Down from kr3.55, the current price target is provided by 1 analyst. New target price is 104% above last closing price of kr1.57. Stock is down 46% over the past year. The company is forecast to post earnings per share of kr0.11 next year compared to a net loss per share of kr0.94 last year. Reported Earnings • May 09
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: kr0.03 loss per share (improved from kr0.067 loss in 1Q 2024). Revenue: kr75.7m (down 3.1% from 1Q 2024). Net loss: kr1.69m (loss narrowed 53% from 1Q 2024). Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) exceeded analyst estimates by 25%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Capital Markets industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Announcement • Apr 24
Vo2 Cap Holding AB (publ), Annual General Meeting, May 23, 2025 Vo2 Cap Holding AB (publ), Annual General Meeting, May 23, 2025, at 08:00 W. Europe Standard Time. Location: humlegardsgatan 17, 7th floor, stockholm. Sweden New Risk • Mar 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr99.8m (US$9.93m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Market cap is less than US$10m (kr99.8m market cap, or US$9.93m). New Risk • Feb 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Swedish stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risk Market cap is less than US$100m (kr152.4m market cap, or US$14.2m). Announcement • Feb 12
Vo2 Cap Holding AB (publ) to Report Q1, 2025 Results on May 06, 2025 Vo2 Cap Holding AB (publ) announced that they will report Q1, 2025 results on May 06, 2025 Reported Earnings • Feb 12
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: kr0.92 loss per share (down from kr0.10 profit in FY 2023). Revenue: kr376.9m (up 9.2% from FY 2023). Net loss: kr52.1m (down kr57.6m from profit in FY 2023). Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Capital Markets industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 27 percentage points per year, which is a significant difference in performance. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Independent Board Member Ulrika Saxon was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Jan 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Market cap is less than US$100m (kr113.8m market cap, or US$10.1m). New Risk • Nov 12
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr108.4m (US$9.94m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (kr108.4m market cap, or US$9.94m). Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Major Estimate Revision • Nov 06
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from kr373.0m to kr349.0m. Now expected to report a loss of kr0.26 per share instead of kr0.01 per share profit previously forecast. Capital Markets industry in Sweden expected to see average net income growth of 29% next year. Consensus price target down from kr4.50 to kr3.35. Share price fell 7.5% to kr2.36 over the past week. New Risk • Jul 28
New major risk - Revenue and earnings growth Revenue has declined by 25% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 25% over the past year. Minor Risks Less than 3 years of financial data is available. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Market cap is less than US$100m (kr167.8m market cap, or US$15.5m). Buying Opportunity • Dec 13
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be kr4.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Buying Opportunity • Nov 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be kr4.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Recent Insider Transactions • Mar 22
Co-Founder & Operational Chairman recently bought kr584k worth of stock On the 16th of March, Douglas Roos bought around 90k shares on-market at roughly kr6.49 per share. This transaction increased Douglas' direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Douglas has been a buyer over the last 12 months, purchasing a net total of kr822k worth in shares. Recent Insider Transactions • Mar 09
Co-Founder & Operational Chairman recently bought kr238k worth of stock On the 2nd of March, Douglas Roos bought around 33k shares on-market at roughly kr7.21 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Douglas' only on-market trade for the last 12 months. Board Change • Dec 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Co-opted Board Member Ulrika Saxon was the last director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Dec 07
Co-founder & Operational Board Member recently bought kr131k worth of stock On the 5th of December, Oskar Sardi bought around 24k shares on-market at roughly kr5.55 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Oskar's only on-market trade for the last 12 months. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.