New Risk • 52m
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 Norwegian stocks, typically moving 11% 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 Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (68% accrual ratio). Valuation Update With 7 Day Price Move • 7h
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to kr48.80, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 19x in the Communications industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at kr95.51 per share. Buy Or Sell Opportunity • May 19
Now 21% undervalued Over the last 90 days, the stock has risen 8.9% to kr71.20. The fair value is estimated to be kr90.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last year. Meanwhile, the company has become profitable. Revenue is forecast to grow by 47% in 2 years. Earnings are forecast to grow by 61% in the next 2 years. Reported Earnings • May 02
First quarter 2026 earnings released: EPS: kr0.65 (vs kr1.13 in 1Q 2025) First quarter 2026 results: EPS: kr0.65 (down from kr1.13 in 1Q 2025). Revenue: kr231.7m (up 6.9% from 1Q 2025). Net income: kr25.6m (down 40% from 1Q 2025). Profit margin: 11% (down from 20% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Communications industry in Europe. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to kr72.20, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Communications industry in Europe. Buy Or Sell Opportunity • Apr 08
Now 28% overvalued Over the last 90 days, the stock has fallen 20% to kr64.20. The fair value is estimated to be kr50.22, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Buy Or Sell Opportunity • Mar 24
Now 21% overvalued Over the last 90 days, the stock has fallen 27% to kr60.61. The fair value is estimated to be kr49.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 20% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Reported Earnings • Mar 23
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: kr3.40 (up from kr1.85 in FY 2024). Revenue: kr800.9m (up 32% from FY 2024). Net income: kr129.2m (up 86% from FY 2024). Profit margin: 16% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Communications industry in Europe. Reported Earnings • Feb 18
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: kr3.42 (up from kr1.85 in FY 2024). Revenue: kr800.9m (up 32% from FY 2024). Net income: kr129.2m (up 86% from FY 2024). Profit margin: 16% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Communications industry in Europe. Recent Insider Transactions • Nov 10
Chief Product Officer recently sold kr33m worth of stock On the 4th of November, Thomas Lind sold around 495k shares on-market at roughly kr66.50 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Board Change • Nov 06
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 Brita Eilertsen 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.