Reported Earnings • Oct 25
Third quarter 2024 earnings released: kr0.065 loss per share (vs kr0.70 loss in 3Q 2023) Third quarter 2024 results: kr0.065 loss per share (improved from kr0.70 loss in 3Q 2023). Revenue: kr6.66m (up 215% from 3Q 2023). Net loss: kr1.46m (loss narrowed 82% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. New Risk • Sep 18
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 12% 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 (-kr29m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 22% per year over the past 5 years. Shareholders have been substantially diluted in the past year (74% increase in shares outstanding). Market cap is less than US$10m (kr63.6m market cap, or US$6.25m). Minor Risk Revenue is less than US$5m (kr10m revenue, or US$1.0m). Reported Earnings • Aug 01
Second quarter 2024 earnings released: kr0.34 loss per share (vs kr0.81 loss in 2Q 2023) Second quarter 2024 results: kr0.34 loss per share (improved from kr0.81 loss in 2Q 2023). Revenue: kr3.74m (up 31% from 2Q 2023). Net loss: kr6.53m (loss narrowed 32% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 34% per year, which means it is performing significantly worse than earnings. Reported Earnings • Jun 04
First quarter 2024 earnings released: kr0.53 loss per share (vs kr0.91 loss in 1Q 2023) First quarter 2024 results: kr0.53 loss per share (improved from kr0.91 loss in 1Q 2023). Revenue: kr2.46m (down 29% from 1Q 2023). Net loss: kr7.20m (loss narrowed 28% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. New Risk • May 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 79% 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 (-kr39m free cash flow). Earnings have declined by 27% per year over the past 5 years. Shareholders have been substantially diluted in the past year (79% increase in shares outstanding). Revenue is less than US$1m (kr11m revenue, or US$974k). Market cap is less than US$10m (kr80.3m market cap, or US$7.43m). Minor Risk Share price has been volatile over the past 3 months (9.8% average weekly change). New Risk • Apr 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. 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 (-kr39m free cash flow). Earnings have declined by 27% per year over the past 5 years. Revenue is less than US$1m (kr11m revenue, or US$997k). Market cap is less than US$10m (kr43.8m market cap, or US$4.15m). Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Reported Earnings • Mar 06
Full year 2023 earnings released: kr3.11 loss per share (vs kr3.30 loss in FY 2022) Full year 2023 results: kr3.11 loss per share. Revenue: kr10.7m (down 17% from FY 2022). Net loss: kr37.1m (loss widened 15% from FY 2022). New Risk • Feb 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr103.6m (US$9.94m) 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 (-kr29m free cash flow). Earnings have declined by 28% per year over the past 5 years. Market cap is less than US$10m (kr103.6m market cap, or US$9.94m). Minor Risks Shareholders have been diluted in the past year (19% increase in shares outstanding). Revenue is less than US$5m (kr11m revenue, or US$1.1m). New Risk • Oct 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. 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 (-kr33m free cash flow). Earnings have declined by 28% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Shareholders have been diluted in the past year (9.1% increase in shares outstanding). Revenue is less than US$5m (kr14m revenue, or US$1.3m). Market cap is less than US$100m (kr114.3m market cap, or US$10.4m). Reported Earnings • Aug 20
Second quarter 2023 earnings released: kr0.81 loss per share (vs kr1.06 loss in 2Q 2022) Second quarter 2023 results: kr0.81 loss per share. Revenue: kr2.85m (up 53% from 2Q 2022). Net loss: kr9.54m (loss widened 3.4% from 2Q 2022). Reported Earnings • Apr 14
Full year 2022 earnings released: kr3.31 loss per share (vs kr2.68 loss in FY 2021) Full year 2022 results: kr3.31 loss per share (further deteriorated from kr2.68 loss in FY 2021). Revenue: kr12.9m (up 100% from FY 2021). Net loss: kr32.4m (loss widened 55% from FY 2021). Reported Earnings • Nov 18
Third quarter 2022 earnings released: kr0.51 loss per share (vs kr0.31 loss in 3Q 2021) Third quarter 2022 results: kr0.51 loss per share (further deteriorated from kr0.31 loss in 3Q 2021). Revenue: kr5.12m (up 108% from 3Q 2021). Net loss: kr4.67m (loss widened 84% from 3Q 2021). 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. 4 non-independent directors. Director Per-Anders Tammerlov was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 21
First half 2022 earnings released: kr2.09 loss per share (vs kr1.27 loss in 1H 2021) First half 2022 results: kr2.09 loss per share (down from kr1.27 loss in 1H 2021). Revenue: kr4.73m (up 128% from 1H 2021). Net loss: kr18.2m (loss widened 94% from 1H 2021). 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. 4 non-independent directors. Director Pernilla Hurtig 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 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: kr2.68 loss per share. Revenue: kr6.69m (up 79% from FY 2020). Net loss: kr20.8m (loss widened 43% from FY 2020). Revenue was in line with analyst estimates.