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. 3 non-independent directors. CEO & Director Anton Bondesen 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. 공고 • May 01
CodeLab Capital AS announced that it expects to receive NOK 18.8 million in funding from Agil Helse AS and other investor. CodeLab Capital AS announced a private placement to issue 4,700,000 common share at an issue price of NOK 4 for the proceeds of NOK 18,800,000 on April 29, 2026. The demand to subscribe for new shares has been received from the Company’s largest shareholders, Agil Helse AS, and new external investors. Investors that have signed the pre-commitment letters will be allocated at least NOK 17,000,000. Any issuance of new shares in the private placement is subject to the approval by the general meeting. Summons to the general meeting is expected to be sent at the latest by May 6,2026. 공고 • Dec 30
CodeLab Capital AS, Annual General Meeting, Jun 23, 2026 CodeLab Capital AS, Annual General Meeting, Jun 23, 2026. 공고 • May 28
CodeLab Capital AS announced that it has received funding CodeLab Capital AS announced a private placement transaction and it has issued 4799998 new shares on May 26, 2025. 공고 • May 06
CodeLab Capital AS (OB:CODE) signed an agreement to acquire 97.40% stake in Kuba Norge As for NOK 18.5 million. CodeLab Capital AS (OB:CODE) signed an agreement to acquire 97.40% stake in Kuba Norge As for NOK 18.5 million on May 5, 2025. The purchase price is NOK 20 million, to be paid as follows: one third of the purchase price shall be paid in cash at closing of the Transaction, one third of the purchase price shall be paid in kind through the issuance of 1,302,071 consideration shares in CodeLab at Closing, valued at NOK 5.12 per share, one third of the purchase price shall be deferred payment which falls due first quarter of 2028. The deferred payment is subject to adjustment depending on the development of the cash EBITDA of Kuba for 2027, but is capped at 1.5x the original deferred payment.
Following the acquisition of Kuba Norge AS, CodeLab Capital AS is adjusting its leadership structure to align with its strategic direction. CEO Kristian Ikast will transition to the role of Chairman of the Board of Directors and continue as a close advisor to the company. CFO Christoffer Mathiesen will remain in his current role. Anton Lorenz Bondesen, the current Chairman of the Board, will become the CEO and will also continue as a member of the Board of Directors.
The Transaction is subject to standard closing conditions, including the approval of the Company's shareholders in a general meeting for issuance of the Consideration Shares as well as certain other amendments to the share capital of the Company as described below. CodeLab Capital AS has secured approximately NOK 13.9 million in new equity funding for its acquisition of Kuba Norge AS, with contributions from leading shareholders such as Lorenz AS and Codee Holding AS, as well as other existing shareholders and external investors, including the sellers. The funding is at a subscription price of NOK 3.00 per share. CodeLab plans to conduct a private placement to complete the transaction, with a potential subsequent repair issue for minority shareholders.
For the period ending December 31, 2024, Kuba Norge As reported total revenue of NOK 12.5 million.
Advokatfirmaet Schjødt As acted as legal advisor to CodeLab Capital AS. 공고 • Jan 24
CodeLab Capital AS to Report Fiscal Year 2024 Results on May 15, 2025 CodeLab Capital AS announced that they will report fiscal year 2024 results at 9:00 AM, Central European Standard Time on May 15, 2025 공고 • Jan 02
CodeLab Capital AS, Annual General Meeting, Jun 27, 2025 CodeLab Capital AS, Annual General Meeting, Jun 27, 2025. New Risk • Sep 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 114% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (114% accrual ratio). Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Revenue is less than US$1m (kr2.9m revenue, or US$272k). Market cap is less than US$10m (€8.09m market cap, or US$9.00m). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). New Risk • Aug 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 72% 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 Share price has been highly volatile over the past 3 months (19% average weekly change). Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Minor Risks Large one-off items impacting financial results. Revenue is less than US$5m (kr47m revenue, or US$4.3m). Market cap is less than US$100m (€9.47m market cap, or US$10.2m). Recent Insider Transactions • Jul 26
Chairman of the Board recently bought €422k worth of stock On the 22nd of July, Jesper Ganc-Petersen bought around 17m shares on-market at roughly €0.025 per share. This transaction increased Jesper's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jesper's only on-market trade for the last 12 months. 공고 • Jul 24
Uniscale, Wholly-Owned Subsidiary of CodeLab Capital, Announces Peter Tuborgh Arnth Nielsen as New Head of Enterprise and Partnerships Uniscale, a wholly-owned subsidiary of CodeLab Capital, announced Peter Tuborgh Arnth Nielsen as the new Head of Enterprise and Partnerships, effective immediately. His role will be crucial in ensuring the growth and development of these strategically important areas of the business. Peter brings extensive experience in building long-term partnerships with international enterprises and large customers. New Risk • Jun 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.62m (US$9.38m) 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 (48% average daily change). Earnings have declined by 50% per year over the past 5 years. Market cap is less than US$10m (€8.62m market cap, or US$9.38m). Minor Risk Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Board Change • May 24
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. New Risk • Apr 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor 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 Share price has been highly volatile over the past 3 months (92% average weekly change). Earnings have declined by 49% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Market cap is less than US$100m (€13.8m market cap, or US$14.8m). New Risk • Mar 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. 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 (-kr150m free cash flow). Share price has been highly volatile over the past 3 months (96% average weekly change). Earnings have declined by 49% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (€18.4m market cap, or US$20.0m). New Risk • Nov 24
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.81m (US$9.60m) 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 (-kr150m free cash flow). Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 49% per year over the past 5 years. Market cap is less than US$10m (€8.81m market cap, or US$9.60m). 공고 • Oct 28
CodeLab Capital AS to Report Q4, 2023 Results on Feb 23, 2024 CodeLab Capital AS announced that they will report Q4, 2023 results on Feb 23, 2024 Reported Earnings • Aug 31
First half 2023 earnings released First half 2023 results: Revenue: kr91.0m (down 7.2% from 1H 2022). Net loss: kr45.8m (loss narrowed 26% from 1H 2022). New Risk • Jun 29
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: -kr184m 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 (-kr184m free cash flow). Share price has been highly volatile over the past 3 months (26% average weekly change). Revenue has declined by 6.7% over the past year. Market cap is less than US$10m (€6.53m market cap, or US$7.11m). 공고 • Jan 03
PatientSky Group AS, Annual General Meeting, Jun 23, 2023 PatientSky Group AS, Annual General Meeting, Jun 23, 2023.