Reported Earnings • Nov 03
Third quarter 2024 earnings released: kr0.13 loss per share (vs kr1.11 loss in 3Q 2023) Third quarter 2024 results: kr0.13 loss per share (improved from kr1.11 loss in 3Q 2023). Net loss: kr13.9m (loss narrowed 41% from 3Q 2023). Reported Earnings • Aug 29
Second quarter 2024 earnings released: kr0.31 loss per share (vs kr0.95 loss in 2Q 2023) Second quarter 2024 results: kr0.31 loss per share (improved from kr0.95 loss in 2Q 2023). Net loss: kr19.4m (loss narrowed 1.8% from 2Q 2023). New Risk • May 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 103% 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 Less than 1 year of cash runway based on free cash flow trend (-kr68m free cash flow). Share price has been highly volatile over the past 3 months (461% average daily change). Shareholders have been substantially diluted in the past year (103% increase in shares outstanding). Revenue is less than US$1m (kr5.2m revenue, or US$487k). Market cap is less than US$10m (€4.95m market cap, or US$5.37m). Minor Risk Negative equity (-kr42m). Reported Earnings • May 05
First quarter 2024 earnings released: kr1.12 loss per share (vs kr0.90 loss in 1Q 2023) First quarter 2024 results: kr1.12 loss per share (further deteriorated from kr0.90 loss in 1Q 2023). Net loss: kr24.0m (loss widened 34% from 1Q 2023). Reported Earnings • Feb 18
Full year 2023 earnings released: kr0.04 loss per share (vs kr0.034 loss in FY 2022) Full year 2023 results: kr0.04 loss per share (further deteriorated from kr0.034 loss in FY 2022). Revenue: kr7.80m (down 7.0% from FY 2022). Net loss: kr83.5m (loss widened 31% from FY 2022). New Risk • Feb 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €7.93m (US$8.55m) 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 (-kr73m free cash flow). Share price has been highly volatile over the past 3 months (57% average weekly change). Revenue is less than US$1m (kr8.5m revenue, or US$815k). Market cap is less than US$10m (€7.93m market cap, or US$8.55m). Minor Risk Shareholders have been diluted in the past year (8.7% increase in shares outstanding). Reported Earnings • Aug 30
Second quarter 2023 earnings released: kr0.01 loss per share (vs kr0.009 loss in 2Q 2022) Second quarter 2023 results: kr0.01 loss per share (further deteriorated from kr0.009 loss in 2Q 2022). Revenue: kr3.03m (up 38% from 2Q 2022). Net loss: kr19.7m (loss widened 19% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 51% per year, which means it is significantly lagging earnings. Reported Earnings • May 01
First quarter 2023 earnings released: kr0.009 loss per share (vs kr0.009 loss in 1Q 2022) First quarter 2023 results: kr0.009 loss per share (in line with 1Q 2022). Revenue: kr2.18m (up kr2.17m from 1Q 2022). Net loss: kr17.8m (loss widened 15% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 24
Full year 2022 earnings released: kr0.034 loss per share (vs kr0.052 loss in FY 2021) Full year 2022 results: kr0.034 loss per share (improved from kr0.052 loss in FY 2021). Net loss: kr63.6m (loss narrowed 19% from FY 2021). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 60% per year, which means it is significantly lagging earnings. Board Change • Nov 16
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. 5 non-independent directors. Director Tobias Wennberg was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Third quarter 2022 earnings released: kr0.007 loss per share (vs kr0.01 loss in 3Q 2021) Third quarter 2022 results: kr0.007 loss per share (improved from kr0.01 loss in 3Q 2021). Net loss: kr12.6m (loss narrowed 23% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 21
Second quarter 2022 earnings released: kr0.009 loss per share (vs kr0.013 loss in 2Q 2021) Second quarter 2022 results: kr0.009 loss per share (up from kr0.013 loss in 2Q 2021). Net loss: kr16.6m (loss narrowed 13% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 28
First quarter 2022 earnings released: kr0.009 loss per share (vs kr0.017 loss in 1Q 2021) First quarter 2022 results: kr0.009 loss per share (up from kr0.017 loss in 1Q 2021). Net loss: kr15.5m (loss narrowed 35% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. 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. 5 non-independent directors. Director Tobias Wennberg was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 24
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: kr0.052 loss per share (up from kr0.06 loss in FY 2020). Net loss: kr78.6m (loss widened 3.5% from FY 2020). Revenue missed analyst estimates by 48%. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 03
Third quarter 2021 earnings released: kr0.01 loss per share (vs kr0.014 loss in 3Q 2020) Third quarter 2021 results: Net loss: kr16.4m (loss narrowed 5.2% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 46% per year whereas the company’s share price has increased by 43% per year. Reported Earnings • Aug 29
Second quarter 2021 earnings released: kr0.013 loss per share (vs kr0.013 loss in 2Q 2020) Second quarter 2021 results: Net loss: kr19.0m (loss widened 13% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 02
First quarter 2021 earnings released: kr0.017 loss per share (vs kr0.018 loss in 1Q 2020) First quarter 2021 results: Net loss: kr23.8m (loss widened 7.5% from 1Q 2020). Reported Earnings • Feb 18
Full year 2020 earnings released: kr0.06 loss per share (vs kr0.064 loss in FY 2019) Full year 2020 results: Net loss: kr76.0m (loss widened 5.7% from FY 2019). Reported Earnings • Nov 05
Third quarter 2020 earnings released: kr0.01 loss per share Third quarter 2020 results: Net loss: kr17.3m (loss widened 20% from 3Q 2019). お知らせ • Jun 29
Cortus Energy AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 62.6 million. Cortus Energy AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 62.6 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 156,500,000
Price\Range: SEK 0.26 to SEK 0.4
Transaction Features: Rights Offering