New Risk • 6h
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. 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 (-kr10m free cash flow). Share price has been highly volatile over the past 3 months (44% average weekly change). Revenue has declined by 42% over the past year. Shareholders have been substantially diluted in the past year (91% increase in shares outstanding). Market cap is less than US$10m (kr87.6m market cap, or US$9.44m). Minor Risk Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). お知らせ • May 05
Refine Group AB (publ), Annual General Meeting, Jun 04, 2026 Refine Group AB (publ), Annual General Meeting, Jun 04, 2026, at 09:30 W. Europe Standard Time. Location: tm & partners premises, at jakobs torg 3 in stockholm, Sweden New Risk • Dec 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 91% 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 (-kr10m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue has declined by 42% over the past year. Shareholders have been substantially diluted in the past year (91% increase in shares outstanding). Market cap is less than US$10m (kr23.7m market cap, or US$2.54m). Reported Earnings • Aug 24
Second quarter 2025 earnings released: kr0.10 loss per share (vs kr0.21 loss in 2Q 2024) Second quarter 2025 results: kr0.10 loss per share (improved from kr0.21 loss in 2Q 2024). Revenue: kr38.5m (down 51% from 2Q 2024). Net loss: kr6.97m (loss narrowed 43% from 2Q 2024). New Risk • May 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr11m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-kr11m free cash flow). Share price has been highly volatile over the past 3 months (45% average weekly change). Revenue has declined by 6.1% over the past year. Market cap is less than US$10m (kr18.0m market cap, or US$1.87m). Minor Risk Shareholders have been diluted in the past year (22% increase in shares outstanding). New Risk • May 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (45% average weekly change). Market cap is less than US$10m (kr15.5m market cap, or US$1.62m). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Shareholders have been diluted in the past year (22% increase in shares outstanding). お知らせ • May 03
Refine Group AB (publ), Annual General Meeting, Jun 04, 2025 Refine Group AB (publ), Annual General Meeting, Jun 04, 2025, at 13:00 W. Europe Standard Time. Location: at about value`s premises, at nybrogatan 7, stockholm Sweden New Risk • Apr 10
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 40% 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 (40% average weekly change). Market cap is less than US$10m (kr37.8m market cap, or US$3.84m). Minor Risk Shareholders have been diluted in the past year (22% increase in shares outstanding). Board Change • Jan 01
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Simon Petren is the most experienced director on the board, commencing their role in 2023. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 07
New major risk - Revenue and earnings growth Revenue has declined by 1.8% 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 Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Revenue has declined by 1.8% over the past year. Market cap is less than US$10m (kr39.4m market cap, or US$3.61m). Minor Risk Less than 3 years of financial data is available. お知らせ • May 17
Refine Group AB (publ), Annual General Meeting, Jun 13, 2024 Refine Group AB (publ), Annual General Meeting, Jun 13, 2024, at 13:00 W. Europe Standard Time. Location: in the company`s premises at address c/o, l26, luntmakargatan 26, stockholm Sweden 