Announcement • Apr 10
Strax AB (publ)(OM:STRAX) dropped from OMX Nordic Small Cap Index Strax AB (publ) dropped from the OMX Nordic Small Cap Index Announcement • Apr 09
Strax AB (publ)(OM:STRAX) dropped from OMX Nordic All-Share Index Strax AB (publ) has been dropped from the OMX Nordic All- Share Index Reported Earnings • Mar 04
Full year 2024 earnings released: €0.022 loss per share (vs €0.51 loss in FY 2023) Full year 2024 results: €0.022 loss per share (improved from €0.51 loss in FY 2023). Revenue: €7.42m (down 75% from FY 2023). Net loss: €2.66m (loss narrowed 96% from FY 2023). New Risk • Dec 03
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: -€1.9m 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 (-€1.9m free cash flow). Negative equity (-€74m). Earnings have declined by 73% per year over the past 5 years. Market cap is less than US$10m (kr20.3m market cap, or US$1.85m). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Reported Earnings • Dec 01
Third quarter 2024 earnings released: EPS: €0.007 (vs €0.11 loss in 3Q 2023) Third quarter 2024 results: EPS: €0.007 (up from €0.11 loss in 3Q 2023). Revenue: €935.0k (down 84% from 3Q 2023). Net income: €797.0k (up €14.5m from 3Q 2023). Profit margin: 85% (up from net loss in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 20 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 01
Second quarter 2024 earnings released: EPS: €0.072 (vs €0.045 loss in 2Q 2023) Second quarter 2024 results: EPS: €0.072 (up from €0.045 loss in 2Q 2023). Net income: €8.65m (up €14.0m from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. New Risk • Jul 25
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€62m 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 Negative equity (-€62m). Earnings have declined by 83% per year over the past 5 years. Market cap is less than US$10m (kr35.2m market cap, or US$3.25m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€943k). Share price has been volatile over the past 3 months (11% average weekly change). Announcement • Jun 28
Strax AB (publ) Elects Kjartan Örn Sigurdsson as New Member of the Board of Directors Strax AB (publ) resolved that Kjartan Örn Sigurdsson was elected as new member of the Board of Directors, for the period until the end of the next Annual General Meeting. Reported Earnings • Jun 04
First quarter 2024 earnings released: €0.06 loss per share (vs €0.016 loss in 1Q 2023) First quarter 2024 results: €0.06 loss per share (further deteriorated from €0.016 loss in 1Q 2023). Revenue: €4.52m (down 77% from 1Q 2023). Net loss: €7.26m (loss widened 272% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Announcement • Jun 02
Strax AB (publ) to Report First Half, 2024 Results on Aug 22, 2024 Strax AB (publ) announced that they will report first half, 2024 results on Aug 22, 2024 New Risk • Apr 04
New major risk - Revenue and earnings growth Earnings have declined by 83% 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 Share price has been highly volatile over the past 3 months (59% average weekly change). Negative equity (-€50m). Earnings have declined by 83% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr108.3m market cap, or US$10.2m). Reported Earnings • Feb 29
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: €0.40 loss per share (further deteriorated from €0.09 loss in FY 2022). Revenue: €30.2m (down 71% from FY 2022). Net loss: €48.2m (loss widened 345% from FY 2022). Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 90%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 1.1% decline forecast for the Consumer Durables industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Announcement • Feb 06
Strax AB (Publ) Announces Board Changes Strax AB (publ) announced Bertil Villard has decided to resign as a board member and as chairman of the company. Bertil Villards ambition is to reduce a long-term high workload. Bertil Villard has been the chairman of the Board in STRAX since it was listed in 2016, where he has contributed greatly to the company and guided the company through many delicate situations, especially recently during the last few years with great challenges for STRAX. Ingvi Tyr Tomasson has been appointed the chairman of the board following the resignation of Bertil Villard. Ingvi Tyr Tomasson is the co-founder of STRAX and has served as a Board member since the company was founded in 1995. In addition to the Chairman, the Board consists of Anders Lönnqvist and Gudmundur Palmason. Reported Earnings • Dec 03
Third quarter 2023 earnings released: €0.11 loss per share (vs €0.052 loss in 3Q 2022) Third quarter 2023 results: €0.11 loss per share (further deteriorated from €0.052 loss in 3Q 2022). Revenue: €6.00m (down 12% from 3Q 2022). Net loss: €13.7m (loss widened 120% from 3Q 2022). Revenue is expected to fall by 8.9% p.a. on average during the next 3 years compared to a 3.9% decline forecast for the Consumer Durables industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. New Risk • Dec 01
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 10% 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 Negative equity (-€12m). Market cap is less than US$10m (kr72.4m market cap, or US$6.97m). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). New Risk • Oct 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr108.5m (US$9.89m) 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 Negative equity (-€12m). Market cap is less than US$10m (kr108.5m market cap, or US$9.89m). Minor Risk Major Estimate Revision • Aug 30
Consensus revenue estimates decrease by 36%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €90.1m to €57.9m. EPS estimate increased from -€0.049 to -€0.04 per share. Consumer Durables industry in Sweden expected to see average net income growth of 6.5% next year. Consensus price target down from kr2.45 to kr1.98. Share price fell 17% to kr1.26 over the past week. Price Target Changed • Aug 28
Price target decreased by 19% to kr1.98 Down from kr2.45, the current price target is an average from 2 analysts. New target price is 56% above last closing price of kr1.26. Stock is down 31% over the past year. The company is forecast to post a net loss per share of €0.049 next year compared to a net loss per share of €0.09 last year. Reported Earnings • Aug 25
Second quarter 2023 earnings released: €0.017 loss per share (vs €0.005 profit in 2Q 2022) Second quarter 2023 results: €0.017 loss per share (down from €0.005 profit in 2Q 2022). Revenue: €15.9m (down 45% from 2Q 2022). Net loss: €2.04m (down 420% from profit in 2Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.5% decline forecast for the Consumer Durables industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. New Risk • Jul 14
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.03x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.03x net interest cover). Share price has been highly volatile over the past 3 months (15% average weekly change). Negative equity (-€9.5m). Minor Risk Market cap is less than US$100m (kr208.6m market cap, or US$20.4m). New Risk • Jun 29
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 Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Negative equity (-€9.5m). Market cap is less than US$100m (kr295.5m market cap, or US$27.2m). Reported Earnings • May 26
First quarter 2023 earnings released: €0.016 loss per share (vs €0.006 loss in 1Q 2022) First quarter 2023 results: €0.016 loss per share (further deteriorated from €0.006 loss in 1Q 2022). Revenue: €19.3m (down 52% from 1Q 2022). Net loss: €1.95m (loss widened 186% from 1Q 2022). Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, while revenues in the Consumer Durables industry in Sweden are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Price Target Changed • Mar 08
Price target decreased by 11% to kr2.28 Down from kr2.55, the current price target is an average from 2 analysts. New target price is 71% above last closing price of kr1.33. Stock is down 54% over the past year. The company is forecast to post a net loss per share of €0.08 next year compared to a net loss per share of €0.09 last year. Reported Earnings • Feb 24
Full year 2022 earnings released: €0.09 loss per share (vs €0.032 loss in FY 2021) Full year 2022 results: €0.09 loss per share (further deteriorated from €0.032 loss in FY 2021). Revenue: €104.4m (down 16% from FY 2021). Net loss: €10.8m (loss widened 178% from FY 2021). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 2.8% decline forecast for the Consumer Durables industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Dec 01
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from €122.3m to €105.5m. EPS estimate reaffirmed at -€0.07 per share. Consumer Durables industry in Sweden expected to see average net income decline 1.9% next year. Consensus price target down from kr3.15 to kr2.55. Share price fell 8.1% to kr1.42 over the past week. Reported Earnings • Nov 26
Third quarter 2022 earnings released: €0.012 loss per share (vs €0.018 profit in 3Q 2021) Third quarter 2022 results: €0.012 loss per share (down from €0.018 profit in 3Q 2021). Revenue: €22.2m (down 4.2% from 3Q 2021). Net loss: €1.39m (down 166% from profit in 3Q 2021). Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 1.1% decline forecast for the Consumer Durables industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
Insufficient new 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. 2 highly experienced directors. Independent Director Pia Anderberg was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 26
Second quarter 2022 earnings released: €0.011 loss per share (vs €0.011 loss in 2Q 2021) Second quarter 2022 results: €0.011 loss per share (vs €0.011 loss in 2Q 2021). Revenue: €23.9m (down 10% from 2Q 2021). Net loss: €1.36m (loss widened 4.8% from 2Q 2021). Over the next year, revenue is forecast to grow 6.5%, compared to a 3.9% growth forecast for the Consumer Durables industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jul 22
Independent Director recently bought kr224k worth of stock On the 14th of July, Anders Lonnqvist bought around 106k shares on-market at roughly kr2.11 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr5.7m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 12
Founder & Director recently bought kr189k worth of stock On the 7th of June, Ingvi Tomasson bought around 76k shares on-market at roughly kr2.49 per share. This was the largest purchase by an insider in the last 3 months. This was Ingvi's only on-market trade for the last 12 months. Reported Earnings • May 26
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: €0.006 loss per share (up from €0.012 loss in 1Q 2021). Revenue: €39.9m (up 42% from 1Q 2021). Net loss: €683.0k (loss narrowed 51% from 1Q 2021). Revenue exceeded analyst estimates by 9.7%. Earnings per share (EPS) missed analyst estimates by 214%. Over the next year, revenue is expected to shrink by 9.9% compared to a 7.1% growth forecast for the industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 123 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Insufficient new 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. 2 highly experienced directors. Independent Director Pia Anderberg was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Mar 30
Price target decreased to kr4.35 Down from kr5.13, the current price target is an average from 2 analysts. New target price is 36% above last closing price of kr3.20. Stock is down 7.2% over the past year. The company is forecast to post earnings per share of €0.03 next year compared to a net loss per share of €0.032 last year. Recent Insider Transactions • Mar 03
Independent Director recently bought kr1.1m worth of stock On the 28th of February, Anders Lonnqvist bought around 360k shares on-market at roughly kr2.95 per share. In the last 3 months, they made an even bigger purchase worth kr2.5m. Insiders have collectively bought kr4.6m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 25
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: €0.032 loss per share (down from €0.006 profit in FY 2020). Revenue: €123.7m (up 11% from FY 2020). Net loss: €3.90m (down €4.57m from profit in FY 2020). Revenue missed analyst estimates by 18%. Earnings per share (EPS) were also behind analyst estimates. Over the next year, revenue is forecast to grow 6.3%, compared to a 7.0% growth forecast for the industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 124 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jan 25
Independent Director recently bought kr282k worth of stock On the 20th of January, Anders Lonnqvist bought around 76k shares on-market at roughly kr3.71 per share. In the last 3 months, they made an even bigger purchase worth kr2.5m. Insiders have collectively bought kr3.5m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jan 14
Independent Director recently bought kr2.5m worth of stock On the 11th of January, Anders Lonnqvist bought around 592k shares on-market at roughly kr4.27 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. Major Estimate Revision • Dec 02
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from €126.5m to €117.7m. EPS estimate of -€0.005 up from expected loss of €0.01 per share previously. Consumer Durables industry in Sweden expected to see average net income growth of 19% next year. Consensus price target down from kr5.13 to kr4.88. Share price fell 6.0% to kr3.93 over the past week. Reported Earnings • Nov 26
Third quarter 2021 earnings: EPS in line with expectations, revenues disappoint Third quarter 2021 results: EPS: €0.012 (down from €0.016 in 3Q 2020). Revenue: €27.0m (up 2.0% from 3Q 2020). Net income: €1.39m (down 29% from 3Q 2020). Profit margin: 5.1% (down from 7.4% in 3Q 2020). Revenue missed analyst estimates by 18%. Earnings per share (EPS) surpassed estimates. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 17% while the industry in Sweden is not expected to grow. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improved over the past week After last week's 16% share price gain to kr4.26, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 13x in the Consumer Durables industry in Sweden. Total returns to shareholders of 51% over the past three years. Reported Earnings • Aug 26
Second quarter 2021 earnings released: €0.011 loss per share (vs €0.007 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: €26.6m (down 4.9% from 2Q 2020). Net loss: €1.30m (loss widened 46% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Major Estimate Revision • Jun 03
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from €126.1m to €141.8m. EPS estimate unchanged from €0.03 at last update. Consumer Durables industry in Sweden expected to see average net income growth of 16% next year. Consensus price target of kr5.53 unchanged from last update. Share price was steady at kr4.16 over the past week. Reported Earnings • May 28
First quarter 2021 earnings released: €0.012 loss per share (vs €0.016 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: €28.1m (up 27% from 1Q 2020). Net loss: €1.40m (loss narrowed 27% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 16% share price gain to €4.05, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Consumer Durables industry in Sweden. Total loss to shareholders of 12% over the past three years. Major Estimate Revision • Mar 13
Analysts update estimates The 2021 consensus revenue estimate increased from €126.9m to €141.0m. Earnings per share estimate was lowered from €0.06 to €0.03 for the same period. Net income is expected to grow by 498% next year compared to 18% growth forecast for the Consumer Durables industry in Sweden. The consensus price target of kr5.00 was unchanged from the last update. Share price is down by 2.4% to kr3.60 over the past week. Analyst Estimate Surprise Post Earnings • Feb 26
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 0.7%. Earnings per share (EPS) surpassed estimates. Over the next year, revenue is forecast to grow 14% compared to a 1.6% decline forecast for the Consumer Durables industry in Sweden. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS €0.006 (vs €0.014 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €111.8m (down 1.6% from FY 2019). Net income: €669.0k (up €2.40m from FY 2019). Profit margin: 0.6% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 06
New 90-day high: kr4.29 The company is up 14% from its price of kr3.77 on 08 October 2020. The Swedish market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 2.0% over the same period. Is New 90 Day High Low • Dec 22
New 90-day high: kr4.03 The company is up 25% from its price of kr3.23 on 22 September 2020. The Swedish market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 9.0% over the same period. Analyst Estimate Surprise Post Earnings • Nov 27
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 18%. Earnings per share (EPS) surpassed estimates. Over the next year, revenue is forecast to grow 6.9% while the growth in Consumer Durables industry in Sweden is expected to stay flat. Reported Earnings • Nov 27
Third quarter 2020 earnings released: EPS €0.016 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €26.4m (down 4.6% from 3Q 2019). Net income: €1.95m (up €1.74m from 3Q 2019). Profit margin: 7.4% (up from 0.7% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 11% per year. Is New 90 Day High Low • Sep 30
New 90-day high: kr3.47 The company is up 9.0% from its price of kr3.18 on 02 July 2020. The Swedish market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 30% over the same period.