Board Change • May 20
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. 7 non-independent directors. Chairman of the board Fredrik Alpsten was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • May 23
Prolight Diagnostics AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 100.298496 million. Prolight Diagnostics AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 100.298496 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 501,492,480
Price\Range: SEK 0.2
Transaction Features: Rights Offering Recent Insider Transactions Derivative • Oct 23
CEO & Director exercised options to buy kr450k worth of stock. On the 18th of October, Ulf Bladin exercised options to buy 3m shares at a strike price of around kr0.12, costing a total of kr300k. This transaction amounted to 345% of their direct individual holding at the time of the trade. Since December 2023, Ulf has owned 724.64k shares directly. Company insiders have collectively bought kr358k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Oct 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr97.4m (US$9.48m) 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 Less than 1 year of cash runway based on free cash flow trend (-kr38m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 75% per year over the past 5 years. Shareholders have been substantially diluted in the past year (112% increase in shares outstanding). Market cap is less than US$10m (kr97.4m market cap, or US$9.48m). Minor Risk Revenue is less than US$5m (kr25m revenue, or US$2.4m). Reported Earnings • Aug 30
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr4.16m (up 32% from 2Q 2023). Net loss: kr11.2m (loss widened 40% from 2Q 2023). Annonce • Jun 25
Prolight Diagnostics and TTP Provides Update on MicroFlex Development Prolight Diagnostics and TTP have developed the Point-of-Care system MicroFlex which brings the benefits of central-lab quality ELISA testing to more distributed environments with a compact and more user-friendly package. Reported Earnings • May 22
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr3.40m (down 2.7% from 1Q 2023). Net loss: kr8.93m (loss widened 18% from 1Q 2023). Annonce • Apr 19
Prolight Diagnostics AB (publ) to Report Fiscal Year 2023 Results on Apr 23, 2024 Prolight Diagnostics AB (publ) announced that they will report fiscal year 2023 results on Apr 23, 2024 Annonce • Apr 10
Prolight Diagnostics AB (publ), Annual General Meeting, May 14, 2024 Prolight Diagnostics AB (publ), Annual General Meeting, May 14, 2024, at 13:00 Central European Standard Time. Location: Company’s office, Gasverksgatan 3 A, 222 29 Lund Sweden Agenda: To Establishment and approval of the voting list; to discuss Approval of the agenda; to discuss Election of one or two persons to verify the minutes; to Determination as to whether the Meeting has been duly convened; to Presentation of the annual report and the auditor’s report as well as the group accounts and the auditor’s report for the group for the financial year 2023; and to discuss other matters. New Risk • Mar 04
New major risk - Revenue and earnings growth Earnings have declined by 44% 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 Less than 1 year of cash runway based on free cash flow trend (-kr41m free cash flow). Earnings have declined by 44% per year over the past 5 years. Shareholders have been substantially diluted in the past year (77% increase in shares outstanding). Market cap is less than US$10m (kr100.0m market cap, or US$9.69m). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Revenue is less than US$5m (kr19m revenue, or US$1.8m). New Risk • Feb 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 76% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (76% increase in shares outstanding). Market cap is less than US$10m (kr100.9m market cap, or US$9.62m). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Revenue is less than US$5m (kr15m revenue, or US$1.5m). New Risk • Dec 13
New major risk - Revenue and earnings growth Earnings have declined by 36% 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 Less than 1 year of cash runway based on free cash flow trend (-kr49m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 36% per year over the past 5 years. Market cap is less than US$10m (kr90.6m market cap, or US$8.67m). Minor Risk Revenue is less than US$5m (kr36m revenue, or US$3.5m). New Risk • Oct 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr83.8m (US$7.53m) 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 (24% average weekly change). Market cap is less than US$10m (kr83.8m market cap, or US$7.53m). Minor Risk Revenue is less than US$5m (kr11m revenue, or US$1.0m). New Risk • Jun 15
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 14% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-kr26m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m (kr5.7m revenue, or US$538k). Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Market cap is less than US$100m (kr120.8m market cap, or US$11.3m). Recent Insider Transactions • Jan 22
Board Member recently bought kr172k worth of stock On the 18th of January, Tobias Volker bought around 500k shares on-market at roughly kr0.34 per share. This transaction amounted to 82% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr184k more in shares than they have sold in the last 12 months. Board Change • Nov 16
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. No independent directors (6 non-independent directors). Director Maria Holmlund is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. 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. 4 non-independent directors. Chairman of the Board Ingemar Kihlstrom was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Is New 90 Day High Low • Feb 23
New 90-day low: kr1.59 The company is down 18% from its price of kr1.93 on 25 November 2020. The Swedish market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 16% over the same period. Is New 90 Day High Low • Nov 18
New 90-day low: kr1.81 The company is down 51% from its price of kr3.74 on 20 August 2020. The Swedish market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 1.0% over the same period. Is New 90 Day High Low • Oct 21
New 90-day low: kr2.24 The company is down 14% from its price of kr2.61 on 23 July 2020. The Swedish market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 8.0% over the same period. 