SPIR Stock Overview

Provides software solutions in Norway, Sweden, and internationally. More details

SPIR fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	3/6
Financial Health	1/6
Dividends	0/6

Rewards

Trading at 45.8% below our estimate of its fair value

Became profitable this year

Risk Analysis

Interest payments are not well covered by earnings

Community vs My Fair Value

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Select a narrative for quick price alerts from the community, or create your own.

Spir Group

AnalystConsensusTarget

Consensus Narrative from Analysts

AI Investments And Acquisitions Like Unbolt Will Expand Digital Real Estate Services

Key Takeaways Strategic acquisitions and AI investments are expected to boost revenue and operational efficiencies, driving future earnings growth. Subscription models and cost control measures support stable, recurring revenues and improved profitability.

View narrative

NOK 11.00

12.7% undervalued

7.12%

Revenue growth p.a.

3 months ago

View Spir Group Community

Spir Group ASA Competitors

Elliptic Laboratories

OB:ELABS

NOK 1.1b

SmartCraft

OB:SMCRT

NOK 3.7b

Pexip Holding

OB:PEXIP

NOK 4.9b

River Tech

OB:RIVER

NOK 298.0m

Price History & Performance

Summary of share price highs, lows and changes for Spir Group
Historical stock prices
Current Share Price	NOK 9.60
52 Week High	NOK 11.30
52 Week Low	NOK 7.16
Beta	1.44
1 Month Change	8.11%
3 Month Change	9.59%
1 Year Change	15.94%
3 Year Change	-43.53%
5 Year Change	n/a
Change since IPO	-46.67%

Spir Group ASA (OB:SPIR) Stock Rockets 26% But Many Are Still Ignoring The Company

Feb 21

At kr9.14, Is Spir Group ASA (OB:SPIR) Worth Looking At Closely?

Feb 13

AI Investments And Acquisitions Like Unbolt Will Expand Digital Real Estate Services

Feb 09 Strategic acquisitions and AI investments are expected to boost revenue and operational efficiencies, driving future earnings growth.

Recent updates

Spir Group ASA (OB:SPIR) Stock Rockets 26% But Many Are Still Ignoring The Company

Feb 21

At kr9.14, Is Spir Group ASA (OB:SPIR) Worth Looking At Closely?

Feb 13

AI Investments And Acquisitions Like Unbolt Will Expand Digital Real Estate Services

Feb 09 Strategic acquisitions and AI investments are expected to boost revenue and operational efficiencies, driving future earnings growth.

The Strong Earnings Posted By Spir Group (OB:SPIR) Are A Good Indication Of The Strength Of The Business

Nov 20

Spir Group's (OB:SPIR) Returns On Capital Are Heading Higher

Oct 25

Further Upside For Spir Group ASA (OB:SPIR) Shares Could Introduce Price Risks After 28% Bounce

Apr 04

Shareholder Returns

	SPIR	NO Software	NO Market
7D	-0.8%	5.0%	1.3%
1Y	15.9%	16.8%	-1.1%

Return vs Industry: SPIR matched the Norwegian Software industry which returned 16.8% over the past year.

Return vs Market: SPIR exceeded the Norwegian Market which returned -1.1% over the past year.

Price Volatility

Is SPIR's price volatile compared to industry and market?
SPIR volatility
SPIR Average Weekly Movement	6.3%
Software Industry Average Movement	6.2%
Market Average Movement	6.1%
10% most volatile stocks in NO Market	12.7%
10% least volatile stocks in NO Market	3.6%

Stable Share Price: SPIR has not had significant price volatility in the past 3 months compared to the Norwegian market.

Volatility Over Time: SPIR's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2020	368	Per Lomsdalen	spirgroup.com

Spir Group ASA provides software solutions in Norway, Sweden, and internationally. The company offers Samsvar, a system that helps consumers keep track of legal requirements related to privacy and information security; PixEdit, a software for automating the processing of scanning, data capture, digitalization and optimization, interactive editing, and converting all types of files/documents; Elements, Sak-Arkiv, a core system; Elements eByggesak, a software for construction case processing; AIoT, a platform for data collection; Infoland, a data source for the real estate market; Propfinder, a map service for property developers; Byggesøknaden, a digital building application for professionals; data services that include services connected to the land registry and technical information; and digital settlement process in real estate transactions. It also provides Hjemla, a real estate platform focusing on the value of residential properties; Boligmappa, a digital platform connecting all sides of the housing and real estate lifecycle; Boligmappa.no, an online service that makes for homeowners to manage their property; Boligmappa Professional, used by craftsmen and other professionals to register work, documentation, and other data; ByggeBolig.no, an online forum for homeowners and enthusiasts; and Boligmappa Data Platform used by property appraisers, electrical supervisors, and others.

Spir Group ASA Fundamentals Summary

How do Spir Group's earnings and revenue compare to its market cap?
SPIR fundamental statistics
Market cap	NOK 1.27b
Earnings (TTM)	NOK 41.65m
Revenue (TTM)	NOK 1.13b

30.6x

P/E Ratio

1.1x

P/S Ratio

Is SPIR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
SPIR income statement (TTM)
Revenue	NOK 1.13b
Cost of Revenue	NOK 436.25m
Gross Profit	NOK 690.89m
Other Expenses	NOK 649.24m
Earnings	NOK 41.65m

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

May 13, 2025

Earnings per share (EPS)	0.31
Gross Margin	61.30%
Net Profit Margin	3.70%
Debt/Equity Ratio	53.8%

How did SPIR perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/09 18:48
End of Day Share Price	2025/05/09 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Spir Group ASA is covered by 1 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier

SPIR Stock Overview

Rewards

Risk Analysis

AI Investments And Acquisitions Like Unbolt Will Expand Digital Real Estate Services

Spir Group ASA Competitors

OB:ELABS

NOK 1.1b

OB:SMCRT

NOK 3.7b

OB:PEXIP

NOK 4.9b

OB:RIVER

NOK 298.0m

Price History & Performance

Recent News & Updates

Investor sentiment improves as stock rises 18%

Spir Group ASA (OB:SPIR) Stock Rockets 26% But Many Are Still Ignoring The Company

Full year 2024 earnings: EPS misses analyst expectations

At kr9.14, Is Spir Group ASA (OB:SPIR) Worth Looking At Closely?

Spir Group ASA Announces Chief Financial Officer Changes

AI Investments And Acquisitions Like Unbolt Will Expand Digital Real Estate Services

Recent updates

Investor sentiment improves as stock rises 18%

Spir Group ASA (OB:SPIR) Stock Rockets 26% But Many Are Still Ignoring The Company

Full year 2024 earnings: EPS misses analyst expectations

At kr9.14, Is Spir Group ASA (OB:SPIR) Worth Looking At Closely?

Spir Group ASA Announces Chief Financial Officer Changes

AI Investments And Acquisitions Like Unbolt Will Expand Digital Real Estate Services

Spir Group ASA, Annual General Meeting, May 28, 2025

Spir Group ASA to Report Q1, 2025 Results on May 13, 2025

The Strong Earnings Posted By Spir Group (OB:SPIR) Are A Good Indication Of The Strength Of The Business

Third quarter 2024 earnings released: EPS: kr0.01 (vs kr0.045 in 3Q 2023)

Spir Group ASA to Report Q3, 2024 Results on Nov 13, 2024

Spir Group's (OB:SPIR) Returns On Capital Are Heading Higher

Chief Financial Officer recently bought kr963k worth of stock

New minor risk - Shareholder dilution

Chief Financial Officer recently bought kr500k worth of stock

Second quarter 2024 earnings released: EPS: kr0.08 (vs kr0.05 in 2Q 2023)

Less than half of directors are independent

New major risk - Revenue and earnings growth

Further Upside For Spir Group ASA (OB:SPIR) Shares Could Introduce Price Risks After 28% Bounce

New minor risk - Shareholder dilution

Full year 2023 earnings released: kr0.051 loss per share (vs kr0.33 loss in FY 2022)

Market Still Lacking Some Conviction On Spir Group ASA (OB:SPIR)

Spire Global, Inc. to Report Q2, 2024 Results on Aug 22, 2024

Sikri Group Asa Announces Resignation of Camilla Aardal as CFO

CEO of Boligmappa recently sold kr266k worth of stock

Sikri Group ASA Announces Appointment of Nomination Committee Members

First quarter 2023 earnings released: kr0.021 loss per share (vs kr0.066 profit in 1Q 2022)

Sikri Group ASA Announces Executive Changes

Full year 2022 earnings released: kr0.29 loss per share (vs kr0.099 loss in FY 2021)

Sikri Group ASA to Report Q3, 2023 Results on Nov 09, 2023

No independent directors

We Like These Underlying Return On Capital Trends At Sikri Holding (OB:SIKRI)

Sikri Holding ASA to Report Fiscal Year 2022 Final Results on Apr 28, 2023

Now 23% undervalued after recent price drop

Now 21% undervalued after recent price drop

No independent directors

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Sikri Holding (OB:SIKRI) Has Some Way To Go To Become A Multi-Bagger

Now 26% undervalued after recent price drop

Sikri Holding AS (OB:SIKRI) completed the acquisition of Ambita AS from The Norwegian Ministry of Trade, Industry and Fisheries.

New 90-day high: kr105

New 90-day high: kr100.00

Sikri Holding AS to Report Q3, 2021 Results on Nov 18, 2021

New 90-day low: kr83.99

New 90-day low: kr89.00

Sikri Holding AS to Report Q3, 2020 Results on Nov 05, 2020

Sikri Holding AS (OB:SIKRI-ME) completed the acquisition of Sureway AS and Whatif AS from Kjetil Odin Johnsen and other shareholders.

Sikri Holding AS has completed an IPO in the amount of NOK 199.999961 million.

Sikri Holding AS to Report First Half, 2020 Results on Sep 10, 2020

Sikri Holding AS (OB:SIKRI-ME) entered into a binding term sheet to acquire Sureway AS and Whatif AS from Kjetil Odin Johnsen and other shareholders for an enterprise value of NOK 23 million.

Shareholder Returns

Price Volatility

About the Company

Spir Group ASA Fundamentals Summary

30.6x

1.1x

Earnings & Revenue

Company Analysis and Financial Data Status