New Risk • May 20
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 13% 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 (13% average weekly change). High level of non-cash earnings (37% accrual ratio). Minor Risk Market cap is less than US$100m (kr161.0m market cap, or US$17.2m). Board Change • May 20
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. Aankondiging • Dec 04
EmbeddedArt Group AB (publ) (XSAT:EMART) signed a Memorandum of Understanding to acquire Granit Teknikbyrå Ab for SEK 33 million. EmbeddedArt Group AB (publ) (XSAT:EMART) signed a Memorandum of Understanding to acquire Granit Teknikbyrå Ab for SEK 33 million on December 3, 2025. The initial purchase price has been set at SEK 33 million, of which SEK 14.1 million consists of cash payment and SEK 18.9 million consists of newly issued shares in EmbeddedArt to the Sellers by Granit Teknikbyrå. The shares issued to the Sellers are subject to a lock-up agreement whereby a maximum of one third of the Sellers' holdings may be transferred after each 12-month period for a total period of 36 months. An additional purchase price estimated to amount to approximately SEK 4 million will be paid after the Granit Teknikbyrå's financial statements for 2025 have been audited. The additional purchase price corresponds to the profit generated during the current financial year and which then derives from Granit's achievements before the merger. To finance the cash portion of the acquisition, EmbeddedArt has decided to take out an acquisition loan. EmbeddedArt has received interest from several parties and intends to decide on the choice of counterparty in the coming days.
For the period ending December 31, 2024, Granit Teknikbyrå Ab reported total revenue of SEK 33 million and EBITDA of SEK 4.5 million.
The expected completion of the transaction is January 1, 2026. Aankondiging • Oct 29
EmbeddedArt Group AB (publ) to Report Q3, 2025 Results on Nov 27, 2025 EmbeddedArt Group AB (publ) announced that they will report Q3, 2025 results on Nov 27, 2025 Aankondiging • Jul 29
EmbeddedArt Group AB (publ) to Report Q2, 2025 Results on Aug 28, 2025 EmbeddedArt Group AB (publ) announced that they will report Q2, 2025 results on Aug 28, 2025 Reported Earnings • May 30
First quarter 2025 earnings released First quarter 2025 results: Revenue: kr14.1m (up kr14.0m from 1Q 2024). Net income: kr32.4k (up kr1.96m from 1Q 2024). Profit margin: 0.2% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Aankondiging • Apr 30
EmbeddedArt Group AB (publ) to Report Q1, 2025 Results on May 29, 2025 EmbeddedArt Group AB (publ) announced that they will report Q1, 2025 results on May 29, 2025 New Risk • Mar 10
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: -kr3.0m 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 (-kr3.0m free cash flow). Share price has been highly volatile over the past 3 months (34% average weekly change). Earnings have declined by 19% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 11x increase in shares outstanding). Minor Risks Revenue is less than US$5m (kr50m revenue, or US$4.9m). Market cap is less than US$100m (kr469.5m market cap, or US$46.4m). Aankondiging • Jan 30
EmbeddedArt Group AB (publ) to Report Fiscal Year 2024 Results on Feb 28, 2025 EmbeddedArt Group AB (publ) announced that they will report fiscal year 2024 results on Feb 28, 2025 New Risk • Dec 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr109.9m (US$9.95m) 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 (-kr6.8m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 26% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 11x increase in shares outstanding). Market cap is less than US$10m (kr109.9m market cap, or US$9.95m). Minor Risk Revenue is less than US$5m (kr22m revenue, or US$2.0m). Reported Earnings • Nov 29
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr8.52m (up kr8.35m from 3Q 2023). Net loss: kr640.6k (loss narrowed 80% from 3Q 2023). Aankondiging • Oct 30
EmbeddedArt Group AB (publ) to Report Q3, 2024 Results on Nov 28, 2024 EmbeddedArt Group AB (publ) announced that they will report Q3, 2024 results on Nov 28, 2024 New Risk • Oct 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr106.2m (US$10.00m) 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 (-kr6.8m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 22x increase in shares outstanding). Market cap is less than US$10m (kr106.2m market cap, or US$10.00m). Minor Risk Revenue is less than US$5m (kr13m revenue, or US$1.3m). Reported Earnings • Sep 01
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr13.2m (up kr12.6m from 2Q 2023). Net loss: kr2.39m (loss narrowed 37% from 2Q 2023). Aankondiging • Jul 31
EmbeddedArt Group AB (publ) to Report Q2, 2024 Results on Aug 29, 2024 EmbeddedArt Group AB (publ) announced that they will report Q2, 2024 results on Aug 29, 2024 New Risk • Jun 04
New major risk - Negative shareholders equity The company has negative equity. Total equity: -kr1.7m This is considered a major 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. 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 (27% average weekly change). Negative equity (-kr1.7m). Earnings have declined by 34% per year over the past 5 years. Shareholders have been substantially diluted in the past year (97% increase in shares outstanding). Revenue is less than US$1m (kr838k revenue, or US$80k). Market cap is less than US$10m (kr19.6m market cap, or US$1.87m). Aankondiging • May 03
EmbeddedArt Group AB (publ) to Report Q1, 2024 Results on May 30, 2024 EmbeddedArt Group AB (publ) announced that they will report Q1, 2024 results on May 30, 2024 Reported Earnings • Mar 03
Full year 2023 earnings released: kr0.016 loss per share (vs kr0.02 loss in FY 2022) Full year 2023 results: kr0.016 loss per share. Revenue: kr2.55m (up 31% from FY 2022). Net loss: kr25.5m (loss widened 30% from FY 2022). New Risk • Nov 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 97% 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 (-kr10.0m free cash flow). Share price has been highly volatile over the past 3 months (30% average weekly change). Earnings have declined by 37% per year over the past 5 years. Shareholders have been substantially diluted in the past year (97% increase in shares outstanding). Revenue is less than US$1m (kr911k revenue, or US$87k). Market cap is less than US$10m (kr6.34m market cap, or US$606.7k). Reported Earnings • Nov 26
Third quarter 2023 earnings released Third quarter 2023 results: Net loss: kr3.13m (loss narrowed 30% from 3Q 2022). Aankondiging • Oct 25
C Security Systems AB (publ) to Report Q3, 2023 Results on Nov 23, 2023 C Security Systems AB (publ) announced that they will report Q3, 2023 results on Nov 23, 2023 Reported Earnings • Aug 28
Second quarter 2023 earnings released Second quarter 2023 results: Net loss: kr3.79m (loss narrowed 28% from 2Q 2022). Aankondiging • Jul 26
C Security Systems AB (publ) to Report Q2, 2023 Results on Aug 24, 2023 C Security Systems AB (publ) announced that they will report Q2, 2023 results on Aug 24, 2023 New Risk • Jun 28
New major risk - Revenue and earnings growth Earnings have declined by 44% per year over the past 5 years. 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 profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings 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 Less than 1 year of cash runway based on free cash flow trend (-kr8.7m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 44% per year over the past 5 years. Shareholders have been substantially diluted in the past year (138% increase in shares outstanding). Revenue is less than US$1m (kr1.8m revenue, or US$163k). Market cap is less than US$10m (kr4.83m market cap, or US$450.0k). Aankondiging • Jan 26
C Security Systems AB (publ) to Report Fiscal Year 2022 Results on Feb 24, 2023 C Security Systems AB (publ) announced that they will report fiscal year 2022 results on Feb 24, 2023 Reported Earnings • Nov 26
Third quarter 2022 earnings released Third quarter 2022 results: Net loss: kr4.49m (loss narrowed 5.2% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 59% per year, which means it is performing significantly worse than earnings. Board Change • Nov 16
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. 5 experienced directors. No highly experienced directors. No independent directors (5 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. Reported Earnings • Aug 28
Second quarter 2022 earnings released Second quarter 2022 results: Net loss: kr5.28m (loss widened 60% from 2Q 2021). Over the next year, revenue is forecast to grow 520%, compared to a 17% growth forecast for the Infrastructure industry in Sweden. Reported Earnings • May 31
First quarter 2022 earnings released First quarter 2022 results: Net loss: kr5.63m (loss widened 75% from 1Q 2021). Over the next year, revenue is forecast to grow 439%, compared to a 27% growth forecast for the industry in Sweden. Price Target Changed • Apr 27
Price target decreased to kr0.30 Down from kr0.50, the current price target is provided by 1 analyst. New target price is 261% above last closing price of kr0.083. Stock is down 76% over the past year. The company is forecast to post a net loss per share of kr0.10 next year compared to a net loss per share of kr0.06 last year. Board Change • Apr 27
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. 5 experienced directors. No highly experienced directors. No independent directors (5 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. Reported Earnings • Feb 28
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: kr0.085 loss per share (down from kr0.063 loss in FY 2020). Net loss: kr17.9m (loss widened 76% from FY 2020). Revenue exceeded analyst estimates by 8.3%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 449%, compared to a 27% growth forecast for the industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 39% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 30
Second quarter 2021 earnings released The company reported a decent second quarter result with improved revenues, although losses increased and control over costs was weaker. Second quarter 2021 results: Revenue: kr1.27m (up 128% from 2Q 2020). Net loss: kr3.30m (loss widened 440% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 02
First quarter 2021 earnings released First quarter 2021 results: Net loss: kr3.22m (loss widened 267% from 1Q 2020). 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 11% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 27
Full year 2020 earnings released: kr0.063 loss per share (vs kr0.05 loss in FY 2019) Full year 2020 results: Net loss: kr10.2m (loss widened 176% from FY 2019). 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 17% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Mar 13
Chairman exercised options to buy kr389k worth of stock. On the 9th of March, Robert Tejme exercised options to buy 1m shares at a strike price of around kr0.27, costing a total of kr366k. This transaction amounted to 12% of their direct individual holding at the time of the trade. Since March 2020, Robert has owned 11.33m shares directly. Company insiders have collectively bought kr173k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Mar 03
Full year 2020 earnings released: kr0.15 loss per share (vs kr0.05 loss in FY 2019) Full year 2020 results: Net loss: kr10.2m (loss widened 176% from FY 2019). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has remained flat. Is New 90 Day High Low • Feb 06
New 90-day high: kr0.42 The company is up 73% from its price of kr0.24 on 06 November 2020. The Swedish market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 19% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: kr0.36 The company is up 41% from its price of kr0.26 on 30 September 2020. The Swedish market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is up 19% over the same period. Is New 90 Day High Low • Nov 12
New 90-day low: kr0.23 The company is down 27% from its price of kr0.32 on 14 August 2020. The Swedish market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 10.0% over the same period. Reported Earnings • Oct 17
Third quarter earnings released Over the last 12 months the company has reported total losses of kr3.52m, largely unchanged from the prior year. Aankondiging • Oct 17
C Security Systems AB (publ) to Report Q3, 2020 Results on Oct 16, 2020 C Security Systems AB (publ) announced that they will report Q3, 2020 results on Oct 16, 2020 Aankondiging • Jul 26
C Security Systems AB (publ) to Report Q2, 2020 Results on Aug 19, 2020 C Security Systems AB (publ) announced that they will report Q2, 2020 results on Aug 19, 2020 