Announcement • Sep 25
Nordic Unmanned ASA Announces Resignation of Stig Myrseth from Board Member Nordic Unmanned ASA has received notice from board member Stig Myrseth that he has withdrawn from his role as board member of the Company. Reported Earnings • Sep 01
Second quarter 2024 earnings released Second quarter 2024 results: €0.02 loss per share. Revenue: €4.21m (down 36% from 2Q 2023). Net loss: €3.85m (loss narrowed 41% from 2Q 2023). Reported Earnings • Jun 23
First quarter 2024 earnings released First quarter 2024 results: €0.02 loss per share. Revenue: €3.02m (up 40% from 1Q 2023). Net loss: €4.43m (loss narrowed 2.9% from 1Q 2023). Announcement • May 30
Nordic Unmanned ASA to Report Q1, 2024 Results on Jun 21, 2024 Nordic Unmanned ASA announced that they will report Q1, 2024 results on Jun 21, 2024 Announcement • Apr 12
Nordic Unmanned ASA Appoints Viggo Tjelta as Chair of the Board Nordic Unmanned ASA announced the resignation of the former Chair of the Board of the Company and one additional board member. The Board of Directors of the Company has appointed current board member Viggo Tjelta as the new Chair of the Board. Viggo Tjelta and the other two other remaining board members will for the time being continue as the Company's Board of Directors. Reported Earnings • Mar 13
Full year 2023 earnings released: €0.25 loss per share (vs €0.67 loss in FY 2022) Full year 2023 results: €0.25 loss per share (improved from €0.67 loss in FY 2022). Revenue: €15.5m (down 4.0% from FY 2022). Net loss: €16.5m (loss narrowed 16% from FY 2022). New Risk • Feb 23
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 Norwegian stocks, typically moving 11% 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 (11% average weekly change). Earnings have declined by 82% per year over the past 5 years. Shareholders have been substantially diluted in the past year (351% increase in shares outstanding). Market cap is less than US$10m (kr93.5m market cap, or US$8.87m). Recent Insider Transactions • Nov 29
CFO & COO recently bought kr50k worth of stock On the 27th of November, Lars Landsnes bought around 100k shares on-market at roughly kr0.50 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Lars has been a net seller over the last 12 months, reducing personal holdings by kr10k. New Risk • Nov 12
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 498% 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 Earnings have declined by 91% per year over the past 5 years. Shareholders have been substantially diluted in the past year (498% increase in shares outstanding). Market cap is less than US$10m (kr104.9m market cap, or US$9.44m). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Announcement • Nov 11
Nordic Unmanned ASA has filed a Follow-on Equity Offering in the amount of NOK 35 million. Nordic Unmanned ASA has filed a Follow-on Equity Offering in the amount of NOK 35 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 70,000,000
Price\Range: NOK 0.5
Transaction Features: Subsequent Direct Listing New Risk • Nov 09
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 Norwegian 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 (-€13m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 91% per year over the past 5 years. Market cap is less than US$10m (kr25.1m market cap, or US$2.25m). Minor Risk Shareholders have been diluted in the past year (43% increase in shares outstanding). Announcement • Sep 15
Intervest AS acquired Ecoxy AS from Nordic Unmanned ASA (OB:NUMND) for €0.945 million.. Intervest AS acquired Ecoxy AS from Nordic Unmanned ASA (OB:NUMND) for €0.945 million on September 13, 2023. Intervest AS completed the acquisition of Ecoxy AS from Nordic Unmanned ASA (OB:NUMND) on September 13, 2023. Reported Earnings • Aug 30
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €6.58m (up 37% from 2Q 2022). Net loss: €6.51m (loss widened 80% from 2Q 2022). Announcement • Jul 08
Nordic Unmanned ASA Announces CEO Changes The Board of Directors of Nordic Unmanned ASA announces the appointment of Stig H. Christiansen (55) as the new Chief Executive Officer (CEO)of Nordic Unmanned. Stig brings with him extensive and varied experience in management. Before committing to Nordic Unmanned, he held various pivotal management positions at, among others, Soiltech, Prosafe, Add Energy Group and Equinor. In terms of academic credentials, he has earned an MBA in International Business Economics from the University of Aalborg, supplemented by a Bachelor of Commerce from the University of Birmingham. As the new CEO steps into his role, he succeeds interim CEO, marking a transition to a stable and long-term leadership. This transition is particularly timely and beneficial as Nordic Unmanned is in the midst of an intensive strategic review. The experience that Stig brings is especially relevant during this crucial phase, as explore various strategies aimed at addressing liquidity position and strengthening balance sheet. Stig H. Christiansen will assume the position as CEO of Nordic Unmanned effective immediately, and Arne Roland will step down as interim CEO of Nordic Unmanned. Reported Earnings • Jun 07
First quarter 2023 earnings released First quarter 2023 results: Revenue: €2.17m (down 14% from 1Q 2022). Net loss: €4.56m (loss widened 85% from 1Q 2022). Recent Insider Transactions • Mar 17
Interim Chief Executive Officer recently bought kr213k worth of stock On the 13th of March, Arne Roland bought around 43k shares on-market at roughly kr5.00 per share. This transaction increased Arne's direct individual holding by 28x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr314k. This was Arne's only on-market trade for the last 12 months. Reported Earnings • Feb 24
Full year 2022 earnings released Full year 2022 results: Revenue: €16.5m (up 57% from FY 2021). Net loss: €20.6m (loss widened €17.4m from FY 2021). Recent Insider Transactions • Jan 03
Chief Executive Officer recently bought kr314k worth of stock On the 30th of December, Knut Wiig bought around 52k shares on-market at roughly kr6.02 per share. This transaction amounted to 2.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 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. Vice Chairman of the Board Eirik Algard was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 09
Nordic Unmanned ASA to Report Q1, 2023 Results on May 16, 2023 Nordic Unmanned ASA announced that they will report Q1, 2023 results on May 16, 2023 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. 6 non-independent directors. Vice Chairman of the Board Eirik Algard was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 03
Full year 2021 earnings released Full year 2021 results: Revenue: kr106.0m (up 62% from FY 2020). Net loss: kr32.5m (down kr35.0m from profit in FY 2020). Recent Insider Transactions • Mar 01
Director recently bought kr2.8m worth of stock On the 24th of February, Andreas Pay bought around 109k shares on-market at roughly kr26.00 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Nov 21
Third quarter 2021 earnings released The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: kr31.5m (up 25% from 3Q 2020). Net loss: kr5.38m (down 212% from profit in 3Q 2020). Reported Earnings • Aug 21
Second quarter 2021 earnings released The company reported a decent second quarter result with improved revenues, although earnings and control over costs were weaker. Second quarter 2021 results: Revenue: kr33.0m (up 189% from 2Q 2020). Net loss: kr2.98m (down 227% from profit in 2Q 2020). 