Reported Earnings • Mar 03
Full year 2024 earnings released: kr0.68 loss per share (vs kr4.45 loss in FY 2023) Full year 2024 results: kr0.68 loss per share (improved from kr4.45 loss in FY 2023). Net loss: kr53.7m (loss narrowed 36% from FY 2023). 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). New Risk • Nov 03
New minor risk - Negative shareholders equity The company has negative equity. Total equity: -kr9.8m 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 Risks Less than 1 year of cash runway based on free cash flow trend (-kr72m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (473% increase in shares outstanding). Revenue is less than US$1m (kr2.5m revenue, or US$229k). Market cap is less than US$10m (kr26.3m market cap, or US$2.45m). Minor Risk Negative equity (-kr9.8m). 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 (26% average weekly 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 (kr57.2m 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). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. New Risk • Feb 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr89.2m (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 (15% average weekly change). Revenue is less than US$1m (kr8.5m revenue, or US$815k). Market cap is less than US$10m (kr89.2m market cap, or US$8.55m). Minor Risk Shareholders have been diluted in the past year (8.7% increase in shares outstanding). New Risk • Jan 24
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 15% 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 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 (15% average weekly change). Revenue is less than US$1m (kr8.5m revenue, or US$814k). Minor Risks Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (kr122.3m market cap, or US$11.7m). New Risk • Nov 21
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 14% 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 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 (14% average weekly change). Revenue is less than US$1m (kr8.5m revenue, or US$813k). Minor Risks Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (kr193.5m market cap, or US$18.5m). 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 40% 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 30% 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 38% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Dec 23
MD & CEO exercised options to buy kr83k worth of stock. On the 19th of December, Håkan Sigfridsson exercised options to buy 429k shares at a strike price of around kr0.15, costing a total of kr64k. This transaction amounted to 27% of their direct individual holding at the time of the trade. Since September 2022, Håkan has owned 1.57m shares directly. Company insiders have collectively bought kr96k more than they sold, via options and on-market transactions, in the last 12 months. 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 20% 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 12% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 27
Full year 2021 earnings released: kr0.052 loss per share (vs kr0.06 loss in FY 2020) Full year 2021 results: kr0.052 loss per share. Net loss: kr78.6m (loss widened 3.5% from FY 2020). 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 but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. 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 19% 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). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Apr 11
Director exercised options to buy kr206k worth of stock. On the 7th of April, Richard Bagge exercised options to buy 472k shares at a strike price of around kr0.25, costing a total of kr118k. This transaction amounted to 22% of their direct individual holding at the time of the trade. Since June 2020, Richard's direct individual holding has increased from 2.14m shares to 2.61m. This was the only transaction from an insider over the last 12 months. Recent Insider Transactions Derivative • Apr 09
Director exercised options to buy kr206k worth of stock. On the 7th of April, Richard Bagge exercised options to buy 472k shares at a strike price of around kr0.25, costing a total of kr118k. This transaction amounted to 22% of their direct individual holding at the time of the trade. Since June 2020, Richard has owned 2.14m shares directly. This was the only transaction from an insider over the last 12 months. 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). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 27
New 90-day high: kr0.46 The company is up 44% from its price of kr0.32 on 29 October 2020. The Swedish market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 33% over the same period. Is New 90 Day High Low • Jan 08
New 90-day low: kr0.31 The company is down 38% from its price of kr0.50 on 09 October 2020. The Swedish market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 23
New 90-day low: kr0.31 The company is down 43% from its price of kr0.55 on 23 September 2020. The Swedish market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 6.0% over the same period. 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). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 15
New 90-day low: kr0.49 The company is down 15% from its price of kr0.57 on 17 July 2020. The Swedish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is down 9.0% over the same period.