New Risk • May 22
New minor risk - Negative shareholders equity The company has negative equity. Total equity: -kr20m This is considered a minor risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. It should be noted that some of the negative equity could be due to large buybacks of stock, which is not as much of a risk as a company with overwhelming debt, but likewise is not sustainable in the long-term. Currently, the following risks have been identified for the company: Minor Risks Negative equity (-kr20m). Market cap is less than US$100m (€65.6m market cap, or US$76.1m). Reported Earnings • May 22
First quarter 2026 earnings released First quarter 2026 results: Revenue: kr119.4m (down 1.7% from 1Q 2025). Net loss: kr34.7m (down kr42.5m from profit in 1Q 2025). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Healthcare Services industry in Europe. Board Change • May 21
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. Director Dora Clausen 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. Annuncio • Apr 10
Omda AS Reiterates Earnings Guidance for the Year 2026 Omda AS reiterated earnings guidance for the year 2026. The company reiterated its 2026 guidance and expects revenue of NOK 500 million to NOK 525 million. Board Change • Dec 30
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. Director Dora Clausen 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. Annuncio • Dec 20
Omda AS, Annual General Meeting, Apr 23, 2026 Omda AS, Annual General Meeting, Apr 23, 2026. Annuncio • Apr 26
Omda as Announces Board Appointments Omda AS at the annual general meeting held on 25 April 2025 resolved that the Company's board of directors shall consist of the following persons: Gunnar Bjorkavag (chair); Dora Brink Clausen (board member); John Cresson (board member). The members of the board of directors are elected until the next annual general meeting of the Company. Election of Members to the Nomination and Remuneration Committee: In accordance with the nomination and remuneration committee's proposal, the general meeting resolved that the Company's nomination and remuneration committee shall consist of the following persons: Knut Ivar Rodningen (chair); Ronny Hermansen (member); Camilla Huse Bondesson (member). Annuncio • Feb 04
Omda AS (OB:OMDA) acquired Dermicus AB. Omda AS (OB:OMDA) entered into a binding agreement to acquire Dermicus AB for SEK 34 million on December 20, 2024. The agreed transaction price is SEK 19 million and will be settled in two tranches; SEK 12 million at closing and SEK 7 million as a seller credit to be settled no later than 3Q-2027. Contingent upon reaching specific Sales and EBITDAC targets for the years 2025 and 2026, and additional Earn Out payment up to SEK 15 million will apply. The Earn Out will be paid out no later than 3Q-2027. Completion of the transaction is subject to FDI filing and approval, which are expected to be obtained within 25 working days of signing. Advokatfirmaet Haavind AS acted as legal advisor for Omda AS. RSM Hasner Kjelstrup & Wiggen AS, Investment Banking Arm acted as financial advisor for Omda AS.
Omda AS (OB:OMDA) completed the acquisition of Dermicus AB on February 3, 2025. Omda AS successful completion of its acquisition of Dermicus AB, following the receipt of all necessary regulatory approvals. Annuncio • Dec 11
Omda AS (OB:OMDA) acquired Predicare AB. Omda AS (OB:OMDA) agreed to acquire Predicare AB for SEK 23.5 million on October 4, 2024. A cash consideration of SEK 12 million will be paid by Omda AS. The consideration consists of common equity of Omda AS having a value of SEK 11.5 million to be issued for common equity of Predicare AB. As part of consideration, SEK 23.5 million is paid towards common equity of Predicare AB. The transaction is subject to FDI filing and approval, which are expected to be obtained within five weeks of signing. Predicare had net sales of SEK13.5 million in 2023. Rsm Norge AS acted as accountant for Omda AS. Advokatfirmaet Haavind AS acted as legal advisor for Omda AS.
Omda AS (OB:OMDA) completed the acquisition of Predicare AB on December 10, 2024. Reported Earnings • Aug 27
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr104.5m (flat on 2Q 2023). Net loss: kr23.6m (loss narrowed 8.4% from 2Q 2023). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €3.26, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 19x in the Healthcare Services industry in Europe. Total loss to shareholders of 64% over the past three years. Annuncio • Jun 06
Omda AS (OB:OMDA) commences an Equity Buyback Plan under the authorization approved on April 25, 2024. Omda AS (OB:OMDA) commences share repurchases on May 28, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 25, 2024. As per the mandate, the company is authorized to repurchase its own shares, such that the nominal value of the shares which the company may acquire in total may not exceed NOK 29.98 million. The minimum price which may be paid for each ordinary share is NOK 20 per share and the maximum price is NOK 130 per share. The authorization may be used as a financial instrument, by the board of directors being able to make use of liquidity to acquire shares in the Company, or may be used in connection with acquisitions or other transactions where the Company is to render consideration as shares The program is valid till April 25, 2026. As of April 25, 2024, the company had 20,967,404 shares outstanding with no shares in treasury. Reported Earnings • May 15
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr105.6m (up 3.4% from 1Q 2023). Net loss: kr13.2m (down kr16.0m from profit in 1Q 2023). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe. Reported Earnings • Apr 16
Full year 2023 earnings released: EPS: kr5.11 (vs kr6.28 loss in FY 2022) Full year 2023 results: EPS: kr5.11 (up from kr6.28 loss in FY 2022). Revenue: kr415.1m (up 12% from FY 2022). Net income: kr104.4m (up kr235.9m from FY 2022). Profit margin: 25% (up from net loss in FY 2022). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe. Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: kr5.04 (vs kr6.28 loss in FY 2022) Full year 2023 results: EPS: kr5.04 (up from kr6.28 loss in FY 2022). Revenue: kr415.1m (up 13% from FY 2022). Net income: kr104.4m (up kr235.9m from FY 2022). Profit margin: 25% (up from net loss in FY 2022). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Healthcare Services industry in Europe. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €2.37, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 16x in the Healthcare Services industry in Europe. Total loss to shareholders of 28% over the past year. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €2.89, the stock trades at a trailing P/E ratio of 16.2x. Average forward P/E is 17x in the Healthcare Services industry in Germany. Total loss to shareholders of 25% over the past year. Reported Earnings • Nov 14
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr99.6m (up 15% from 3Q 2022). Net income: kr126.3m (up kr151.6m from 3Q 2022). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Healthcare Services industry in Europe. Breakeven Date Change • Nov 06
No longer forecast to breakeven The 2 analysts covering Omda no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of kr13.1m in 2025. New consensus forecast suggests the company will make a loss of kr1.78m in 2025. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings have declined by 48% 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 (10% average weekly change). Earnings have declined by 48% per year over the past 5 years. Minor Risks Negative equity (-kr722k). Market cap is less than US$100m (€73.8m market cap, or US$80.1m). Breakeven Date Change • Aug 29
Forecast to breakeven in 2025 The 2 analysts covering CSAM Health Group expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of kr13.1m in 2025. Average annual earnings growth of 122% is required to achieve expected profit on schedule. New Risk • Aug 27
New minor risk - Negative shareholders equity The company has negative equity. Total equity: -kr722k This is considered a minor risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. It should be noted that some of the negative equity could be due to large buybacks of stock, which is not as much of a risk as a company with overwhelming debt, but likewise is not sustainable in the long-term. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Negative equity (-kr722k). Market cap is less than US$100m (€77.4m market cap, or US$83.7m). Reported Earnings • Aug 27
Second quarter 2023 earnings released Second quarter 2023 results: kr1.24 loss per share. Revenue: kr104.1m (up 16% from 2Q 2022). Net loss: kr25.8m (loss widened 31% from 2Q 2022). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Healthcare Services industry in Europe. Reported Earnings • Mar 01
Full year 2022 earnings released Full year 2022 results: Revenue: kr369.7m (up 12% from FY 2021). Net loss: kr131.6m (loss widened 48% from FY 2021). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Healthcare Services industry in Europe. Annuncio • Jan 31
CSAM Health Group AS (OB:CSAM) commences an Equity Buyback Plan under the authorization approved on May 19, 2022. CSAM Health Group AS (OB:CSAM) commences share repurchases on January 20, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 19, 2022. As per the mandate, the company is authorized to repurchase its own shares, such that the nominal value of the shares which the company may acquire in total may not exceed NOK 0.21 million. The minimum price which may be paid for each ordinary share is NOK 30 per share and the maximum price is NOK 130 per share. The authorization may be used as a financial instrument, by the board of directors being able to make use of liquidity to acquire shares in the Company, or may be used in connection with acquisitions or other transactions where the Company is to render consideration as shares The program is valid till May 18, 2024. As of May 19, 2022, the company had 20,967,404 shares outstanding with no shares in treasury.
On June 27, 2022, the company announced a share repurchase program. Under the program, the company will repurchase 333,333 of its own shares, for NOK 20 million. The maximum price to be paid per share under the program is NOK 60. Shares acquired as part of the buyback program are primarily intended to be used as consideration in future acquisitions by the company. Any shares purchased will be held in treasury until used for the above purposes. The repurchases will be conducted in the period from June 27, 2022 until and including December 31, 2022.
On November 30, 2022, the company announced a share repurchase program. Under the program, the company will repurchase 666,666 of its own shares, for NOK 20 million. The maximum price to be paid per share under the program is NOK 60. Shares acquired as part of the buyback program are primarily intended to be used as consideration in future acquisitions by the company. Any shares purchased will be held in treasury until used for the above purposes. The repurchases will be conducted in the period from November 30, 2022, until and including the day before the Issuer’s Annual General Meeting in 2023, or until the maximum number of shares have been repurchased. Breakeven Date Change • Dec 31
Forecast to breakeven in 2025 The 2 analysts covering CSAM Health Group expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of kr10.0m in 2025. Average annual earnings growth of 70% is required to achieve expected profit on schedule. Reported Earnings • Dec 01
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr86.5m (flat on 3Q 2021). Net loss: kr25.2m (loss widened 70% from 3Q 2021). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Healthcare Services industry in Europe. 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). Board Member Mats Larson is the most experienced director on the board, commencing their role in 2020. 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. Reported Earnings • Aug 31
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr89.8m (up 13% from 2Q 2021). Net loss: kr19.7m (loss widened 129% from 2Q 2021). Over the next year, revenue is forecast to grow 44%, compared to a 16% growth forecast for the Healthcare Services industry in Germany. Reported Earnings • Apr 28
Full year 2021 earnings released: kr4.25 loss per share (vs kr0.44 loss in FY 2020) Full year 2021 results: kr4.25 loss per share (down from kr0.44 loss in FY 2020). Revenue: kr330.5m (up 44% from FY 2020). Net loss: kr89.1m (loss widened kr79.9m from FY 2020). Over the next year, revenue is forecast to grow 34%, compared to a 27% growth forecast for the industry in Germany. Board Change • Apr 28
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. Board Member Gunnar Bjørkavåg 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. Buying Opportunity • Mar 01
Now 29% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be kr9.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% per annum over the last 3 years. Earnings per share has grown by 74% over the last year. Annuncio • Feb 28
CSAM Health Group AS (OB:CSAM) acquired Carmona AB for SEK 20 million. CSAM Health Group AS (OB:CSAM) acquired Carmona AB for SEK 20 million on February 28, 2022. The consideration has been paid in cash. The transaction includes Carmona’s strong customer base, skilled team and complementary solutions portfolio. Carmona reported sales in 2021 of SEK 13.1 million. Rsm Restructuring Advisory LLP acted as financial and Advokatfirmaet Haavind AS acted as legal advisor to CSAM.
CSAM Health Group AS (OB:CSAM) completed the acquisition of Carmona AB on February 28, 2022. Annuncio • Jan 13
Spigraph Sweden Ab acquired Scanner business in Sweden from CSAM Health Group AS (OB:CSAM). Spigraph Sweden Ab acquired Scanner business in Sweden from CSAM Health Group AS (OB:CSAM) on January 12, 2022.
Spigraph Sweden Ab completed the acquisition of Scanner business in Sweden from CSAM Health Group AS (OB:CSAM) on January 12, 2022. Reported Earnings • Nov 27
Third quarter 2021 earnings: Revenues in line with analyst expectations Third quarter 2021 results: Revenue: kr86.5m (up 64% from 3Q 2020). Net loss: kr14.8m (down 250% from profit in 3Q 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 55%, compared to a 82% growth forecast for the industry in Germany. Breakeven Date Change • Nov 24
No longer forecast to breakeven The analyst covering CSAM Health Group no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of kr16.8m in 2022. New forecast suggests the company will make a loss of kr4.00m in 2023. Breakeven Date Change • Sep 23
Forecast to breakeven in 2022 The analyst covering CSAM Health Group expects the company to break even for the first time. New forecast suggests the company will make a profit of kr16.8m in 2022. Average annual earnings growth of 102% is required to achieve expected profit on schedule. Executive Departure • Sep 07
Legal & HR Director Marius Johansen has left the company On the 1st of September, Marius Johansen's tenure as Legal & HR Director ended. We don't have any record of a personal shareholding under Marius' name. Marius is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 9.67 years. Annuncio • Jun 01
CSAM Health Group AS (OB:CSAM) entered in an agreement to acquire Medscinet Ab for SEK 24 million. CSAM Health Group AS (OB:CSAM) entered in an agreement to acquire Medscinet Ab for SEK 24 million on May 30, 2021. MedSciNet Chief Executive Officer, Camilla Björk, has agreed to join CSAM as domain manager for the newly established growth area of Health Analytics, continues Flatby. MedSciNet reported sales of SEK14.4 million last accounting period. A presentation with acquisition details will be given by Sverre Flatby, CEO and Einar Bonnevie, CFO on May 31, 2021. RSM acted as financial advisor and Haavind acted as legal advisor in the transaction. Breakeven Date Change • May 28
Forecast breakeven pushed back to 2022 The analyst covering CSAM Health Group previously expected the company to break even in 2021. New forecast suggests the company will make a profit of kr16.8m in 2022. Average annual earnings growth of 100% is required to achieve expected profit on schedule.