Buy Or Sell Opportunity • May 25
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 69% to €5.66. The fair value is estimated to be €4.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.0% over the last 3 years. Earnings per share has declined by 31%. Revenue is forecast to grow by 67% in 2 years. Earnings are forecast to grow by 229% in the next 2 years. Board Change • May 20
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. Deputy Board Member Einar Caspersen 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. Announcement • Feb 20
Smartoptics Group ASA announces Annual dividend Smartoptics Group ASA announced Annual dividend of NOK 0.6000 per share, ex-date on May 08, 2026 and record date on May 11, 2026. Announcement • Dec 15
Smartoptics Group ASA, Annual General Meeting, May 07, 2026 Smartoptics Group ASA, Annual General Meeting, May 07, 2026. Announcement • May 26
Smartoptics Group Announces Board and Committee Changes Changes Smartoptics Group AS at its EGM held on May 23, 2025 announced Einar Caspersen steps down as board member and is elected as deputy board member. The Board of the Company shall after this consist of the following persons: Thomas Ramm, Chair, Karl Andreas Thedéen, board member, Sara Heiner Asplund, board member, Einar Caspersen, deputy board member. The following persons are elected as members of the Company's nomination committee, with effect from the time of listing of the Company's shares on Oslo Børs: Thomas Ramm (committee chair) and Einar Caspersen (member). Announcement • May 09
Smartoptics Group AS Approves Dividend Smartoptics Group AS announced that at the AGM held on 8 May 2025, approved dividend of NOK 0.60 per share. The shares in the Company will trade excluding the right to receive dividends from and including 9 May 2025. Announcement • Apr 24
Smartoptics Group as Proposes Cash Dividend for 2024, Payable on 20 May 2025 Smartoptics Group AS proposed cash dividend of NOK 0.60 per share for 2024. Last day including right: 8 May 2025, Ex-date: 9 May 2025, Record date: 12 May 2025, Payment date: 20 May 2025, Date of approval: 8 May 2025. Announcement • Apr 04
Smartoptics Launches the Dual DCP-802 Transponder for Scalable 800G Networking Smartoptics announced the launch of the new DCP-802 transponder. The dual 400G/800G transponder is designed to maximize the potential of 800ZR technology for flexible and cost-efficient network scaling. The DCP-802 transpond enables 800G networking in a compact form factor, significantly reducing power consumption and latency. It supports 1:1 transponder mode for direct conversion to DWDM. With support for 800G break, a single connection can be split into two 400G links (2x400G) or eight 100G links (8x100G) to maximize fiber utilization. This optimizes cost per bit for communication service providers, enterprises and internet exchanges. The DCP-802 is designed for three use cases: 1:1 transponder modes: Convert 800G, 400G or 100G gray signals to coherent DWDM. Get more out of switches and routers with 800G breakout: Extend the life of 100G/400G ports with increased capacity or break out 800G ports into multiple lower-rate links for broader compatibility. Enable signal hand-off with performance monitoring: Use the transponder's demarcation point to measure performance before handing off the signal to another system. The dual 400G/800G transponder features two client ports supporting a flexible range of QSFP-DD transceiver types. On the line side, it supports coherent DWDM 400G and 800G modulation formats, with optional Layer 1 encryption for easily securing data in transit. To optimize capacity and reach for specific network needs, the transponder supports programmable line rates from 100G to 800G in small increments. These flexible data rates are made possible with cutting-edge technologies such as dynamically adjusting modulation and constellation shaping. The DCP-802 are planned to be available for the first deliveries to the market in third quarter 2025. Announcement • Feb 16
Smartoptics Group AS Proposes Dividend Smartoptics Group AS announced its board of directors intends to propose to the Annual General Meeting to be held on 8 May 2025 a dividend of NOK 0.60 per share, increased with NOK 0.10 per share since last year. Announcement • Dec 20
Smartoptics Group AS to Report Fiscal Year 2024 Final Results on Apr 11, 2025 Smartoptics Group AS announced that they will report fiscal year 2024 final results on Apr 11, 2025 Announcement • Dec 18
Smartoptics Group AS, Annual General Meeting, May 08, 2025 Smartoptics Group AS, Annual General Meeting, May 08, 2025. Announcement • Dec 12
Smartoptics Expands Offering to Regional Optical Networks with New Amplifiers: DCP-F-VG and DCP-F-RA Smartoptics announced the launch of its latest amplifiers, the DCP-F-VG Variable Gain Amplifier and the DCP-F-RA Raman Amplifier. These new additions empower network operators to build larger, high-performance networks spanning longer distances, making them ideal for today's bandwidth-intensive applications and future network expansions. The DCP-F-VG and DCP-F-RA amplifiers complement Smartoptics' DCP-R34 ROADM, enabling performance-optimized, high-capacity networks that reach across greater distances. Together, this powerful trio provides network operators with a fully scalable solution to meet dense data demands while laying the groundwork for future, expansive network designs. The new amplifiers bring advanced capabilities to optical networks, enhancing both performance and reach. The DCP-F -VG offers variable gain control for precise amplification, ensuring signal quality across varying spans with seamless integration into the DCP-2 chassis. The DCP-R 34 ROADM is specifically designed for long-haul applications, delivering robust amplification that extends transmission distances minimizing the need for additional intermediate amplifiers. Together, these amplifiers enable flexible, cost-effective network expansion for performance-driven, large-scale configurations. Buy Or Sell Opportunity • Oct 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to €1.33. The fair value is estimated to be €1.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Earnings per share has grown by 9.4%. Revenue is forecast to grow by 47% in 2 years. Earnings are forecast to grow by 126% in the next 2 years. Reported Earnings • Oct 23
Third quarter 2024 earnings released: EPS: US$0.005 (vs US$0.012 in 3Q 2023) Third quarter 2024 results: EPS: US$0.005 (down from US$0.012 in 3Q 2023). Revenue: US$13.0m (down 4.5% from 3Q 2023). Net income: US$537.0k (down 54% from 3Q 2023). Profit margin: 4.1% (down from 8.6% in 3Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 12% per year. Buy Or Sell Opportunity • Jul 16
Now 21% undervalued Over the last 90 days, the stock has risen 3.0% to €1.55. The fair value is estimated to be €1.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 125% in 2 years. Earnings are forecast to grow by 417% in the next 2 years. New Risk • Jul 16
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.3% Last year net profit margin: 14% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (124% payout ratio). Profit margins are more than 30% lower than last year (7.3% net profit margin). Reported Earnings • Jul 16
Second quarter 2024 earnings released: EPS: US$0.001 (vs US$0.025 in 2Q 2023) Second quarter 2024 results: EPS: US$0.001 (down from US$0.025 in 2Q 2023). Revenue: US$13.0m (down 24% from 2Q 2023). Net income: US$121.0k (down 95% from 2Q 2023). Profit margin: 0.9% (down from 14% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 20% per year. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €1.67, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 19x in the Communications industry in Europe. Total loss to shareholders of 15% over the past year. Announcement • May 09
Smartoptics Group as Approves Cash Dividend for 2023 Smartoptics Group AS at the AGM held on 8 May 2024 the Company shall pay a dividend of NOK 0.50 per share in the Company. The shares in the Company will trade excluding the right to receive dividends from and including 10 May 2024. Declared Dividend • Apr 24
Dividend of kr0.50 announced Shareholders will receive a dividend of kr0.50. Ex-date: 10th May 2024 Payment date: 22nd May 2024 Dividend yield will be 32%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (47% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to grow by 51% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 18
Full year 2023 earnings released: EPS: US$0.078 (vs US$0.071 in FY 2022) Full year 2023 results: EPS: US$0.078 (up from US$0.071 in FY 2022). Revenue: US$58.5m (up 1.9% from FY 2022). Net income: US$7.47m (up 10.0% from FY 2022). Profit margin: 13% (up from 12% in FY 2022). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Communications industry in Europe. Announcement • Mar 22
New Flexible and Compact Roadm Strengthens Smartoptics' Offering for Larger Fiber Optic Networks Smartoptics announced the launch of a groundbreaking new ROADM, opening up the capability to build larger metro and regional networks. This expands the company's market opportunities. The ROADM, called DCP-R-34D-CS, only takes up 1 rack unit (RU) and supports disaggregated networking. Reconfigurable optical add/drop multiplexers (ROADMs) are a technology providing dynamic wavelength routing capabilities in a fiber optic network. The DCP-R-34D-CS provides broad interoperability and the latest Wavelength Selective Switch (WSS) technology for flexibly managing next generation disaggregated networks. All ports are equipped with flex grid support and enable seamless cross-connect and add-drop functionality in the local node. All of this offers great flexibility and future-proof adaptability for metro and regional networks and is well suited for use with IP over DWDM. The DCP-R-D34-CS only takes up 1 RU of rack space and consumes less than 100W of power per direction. This small space and energy footprint makes the ROADM a sustainable choice. Both cost-efficient and high-performance operation is ensured with Smartoptics' CDC-F technology. With the new ROADM's variable gain amplifiers, network performance can be further optimized across a wide variety of operating scenarios. Buy Or Sell Opportunity • Feb 20
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 5.7% to €1.50. The fair value is estimated to be €1.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 43%. Revenue is forecast to grow by 52% in 2 years. Earnings are forecast to grow by 62% in the next 2 years. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: US$0.076 (vs US$0.071 in FY 2022) Full year 2023 results: EPS: US$0.076 (up from US$0.071 in FY 2022). Revenue: US$58.5m (up 2.0% from FY 2022). Net income: US$7.28m (up 7.3% from FY 2022). Profit margin: 12% (in line with FY 2022). Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Communications industry in Europe. Announcement • Feb 16
Smartoptics Group AS Proposes Dividend The Board of Directors of Smartoptics Group AS proposed to the Annual General Meeting 8 May 2024 a dividend of NOK 0.50 per share. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €1.63, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 23x in the Communications industry in Europe. Total loss to shareholders of 5.7% over the past year. Announcement • Dec 11
Smartoptics Group AS Announces Chief Financial Officer Changes Smartoptics Group AS announced the appointment of Stefan Karlsson as Chief Financial Officer (CFO), effective 1 February 2024. Stefan Karlsson has served as Director of Finance and Accounting in Trustly since November 2020. Previously, he was Director of Finance of Infinera. His background further includes positions within financial controlling and accounting in Transmode, PacketFront, Powerwave Technologies, Allgon and IconMedialab, as well as a tenure as auditor at PWC. Stefan Karlsson, 53 holds a Bachelor degree in Business and Economics from Stockholm University and has studied Business Administration at the University of Macau. Stefan Karlsson replaces Michael Haag, who, as announced on 20 November 2023, has decided to step down. Effective December 11, 2023, Mikael Haag hands over the CFO position to Markus Torgersen, who will hold the role on an interim basis. Torgersen has held the position as head of accounting in Smartoptics since March 2018. He holds a master's degree in international trade, finance and management from Yonsei University and a bachelor's degree in business administration and management from BI Norwegian Business School. Announcement • Nov 21
Smartoptics Group AS Announces Resignation of Mikael Haag as CFO SmartOptics Group AS announced that its current CFO, Mikael Haag, resigns from his position with the Company for other opportunities. Mikael Haag is expected to remain in his position until a new CFO is in place, and the Company will make an announcement of the new CFO as soon as one has been appointed. Reported Earnings • Nov 13
Third quarter 2023 earnings released: EPS: US$0.012 (vs US$0.026 in 3Q 2022) Third quarter 2023 results: EPS: US$0.012 (down from US$0.026 in 3Q 2022). Revenue: US$13.6m (up 1.1% from 3Q 2022). Net income: US$1.17m (down 53% from 3Q 2022). Profit margin: 8.6% (down from 19% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Communications industry in Europe. Board Change • Sep 20
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 Einar Caspersen 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. Board Change • Sep 01
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 Einar Caspersen 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 • Aug 25
Second quarter 2023 earnings released: EPS: US$0.025 (vs US$0.03 in 2Q 2022) Second quarter 2023 results: EPS: US$0.025 (down from US$0.03 in 2Q 2022). Revenue: US$17.0m (up 16% from 2Q 2022). Net income: US$2.37m (down 18% from 2Q 2022). Profit margin: 14% (down from 20% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Communications industry in Europe. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €1.91, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Communications industry in Europe. Total returns to shareholders of 20% over the past year. Buying Opportunity • Aug 23
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 9.3%. The fair value is estimated to be €2.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last year. Earnings per share has grown by 195%. Revenue is forecast to grow by 66% in 2 years. Earnings is forecast to grow by 84% in the next 2 years. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €2.72, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Communications industry in Europe. Total returns to shareholders of 158% over the past year. Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €2.02, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Communications industry in Europe. Total returns to shareholders of 75% over the past year. Reported Earnings • May 14
First quarter 2023 earnings released: EPS: US$0.026 (vs US$0.007 in 1Q 2022) First quarter 2023 results: EPS: US$0.026 (up from US$0.007 in 1Q 2022). Revenue: US$14.1m (up 18% from 1Q 2022). Net income: US$2.48m (up 280% from 1Q 2022). Profit margin: 18% (up from 5.5% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Communications industry in Europe. Board Change • May 06
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 Einar Caspersen 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. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to €2.12, the stock trades at a trailing P/E ratio of 37.5x. Average forward P/E is 18x in the Communications industry in Europe. Total returns to shareholders of 53% over the past year. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to €3.01, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Communications industry in Europe. Total returns to shareholders of 187% over the past year. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to €2.35, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Communications industry in Europe. Total returns to shareholders of 137% over the past year. Board Change • Feb 22
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 Einar Caspersen 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. Board Change • Feb 02
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 Einar Caspersen 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. Board Change • Nov 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. 4 non-independent directors. Director Einar Caspersen 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. Announcement • Oct 27
Smartoptics Takes Leading Role in Sustainable Optical Networking Smartoptics presents how its latest solutions are leading the green transition and optimizing energy costs in optical networking. These will support both enterprises and service providers in achieving increased efficiency and meeting sustainability targets. In an environment of increasing electricity prices and greater environmental awareness, optimizing power consumption and improving energy efficiency are priorities for both the enterprise DCI (Data Center Interconnect) segment and operators of regional and metro networks. In response, Smartoptics has recently launched a series of new solutions designed for both increased openness and increased sustainability. One of the ways Smartoptics optimizes power consumption is by deploying WDM optics hosted in routers, also known as IP-over-DWDM. Compared to a traditional transponder-based system, this can cut power consumption in the DWDM layer by over 80%. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improved over the past week After last week's 18% share price gain to €1.55, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Communications industry in Europe. Total returns to shareholders of 50% over the past year. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: kr0.06 (vs kr0.077 in 2Q 2021) Second quarter 2022 results: EPS: kr0.06. Revenue: kr139.4m (up 64% from 2Q 2021). Net income: kr25.7m (up 274% from 2Q 2021). Profit margin: 19% (up from 8.1% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 37%, compared to a 8.5% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improved over the past week After last week's 19% share price gain to €1.35, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Communications industry in Europe. Total returns to shareholders of 43% over the past year. Announcement • May 14
Smartoptics Announces DCP-404 Muxponder for 100G Aggregation Into 400G DWDM Smartoptics announced the release of the DCP-404 muxponder for 100G aggregation into 400G DWDM. The DCP-404 delivers ease of use, cost efficiency and low latency to network operators, positioning it for metro networks. The DCP-404 is a layer 1, OpenZR+-capable muxponder with support for four 100G client links and 400G in the line interface. This gives network operators the flexibility to deploy 100G, 200G, 300G or 400G DWDM. The DCP-404 muxponder supports a wide range of QSFP28 transceivers on the client side and a single coherent 400ZR/400ZR+ QSFP-DD transceiver for the line port. Based on standardized, pluggable mass-produced optics, the muxponder will offer a very attractive price point for customers. Announcement • May 08
Smartoptics Group Announces Executive Changes Smartoptics Group AS was held on 4 May 2022 and elected Einar Caspersen (previously deputy member) as a member of the Board of Directors for a term until the annual general meeting in 2023. Sara Heiner Asplund is elected as a member of the Board of Directors for a term until the annual general meeting in 2023. Board Change • May 02
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. 1 experienced director. 2 highly experienced directors. No independent directors (3 non-independent directors). Director Karl Thedeen was the last director to join the board, commencing their role in 2019. 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 13
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$0.04 (up from US$0.025 in FY 2020). Revenue: US$45.9m (up 20% from FY 2020). Net income: US$3.82m (up 144% from FY 2020). Profit margin: 8.3% (up from 4.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 19%, compared to a 6.4% growth forecast for the industry in Germany. 
