New Risk • May 04
New major risk - Revenue and earnings growth Earnings have declined by 80% 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 Risk Earnings have declined by 80% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (kr631.1m market cap, or US$68.1m). Reported Earnings • Apr 26
First quarter 2026 earnings: Revenues exceed analyst expectations First quarter 2026 results: Revenue: kr318.4m (up 13% from 1Q 2025). Net loss: kr3.30m (loss narrowed 57% from 1Q 2025). Revenue exceeded analyst estimates by 8.4%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Media industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. New Risk • Apr 24
New major risk - Revenue and earnings growth Earnings have declined by 75% 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 Risk Earnings have declined by 75% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (kr634.4m market cap, or US$68.5m). Upcoming Dividend • Apr 14
Upcoming dividend of kr1.10 per share Eligible shareholders must have bought the stock before 21 April 2026. Payment date: 27 April 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 6.8%. Within top quartile of Swedish dividend payers (4.1%). Higher than average of industry peers (5.4%). Recent Insider Transactions • Mar 29
Independent Chairman of the Board recently bought kr56k worth of stock On the 20th of March, Max Heger bought around 2k shares on-market at roughly kr31.00 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Max has been a buyer over the last 12 months, purchasing a net total of kr935k worth in shares. Announcement • Mar 18
Adtraction Group AB, Annual General Meeting, Apr 20, 2026 Adtraction Group AB, Annual General Meeting, Apr 20, 2026, at 10:00 W. Europe Standard Time. Location: bahr advokatbyra ab, birger jarlsgatan 16, stockholm Sweden Major Estimate Revision • Feb 26
Consensus EPS estimates upgraded to kr0.87 loss The consensus outlook for fiscal year 2026 has been updated. 2026 losses forecast to reduce from -kr1.31 to -kr0.87 per share. Revenue forecast steady at kr1.26b. Media industry in Sweden expected to see average net income growth of 19% next year. Consensus price target up from kr30.00 to kr40.00. Share price rose 3.7% to kr33.60 over the past week. Reported Earnings • Feb 22
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: kr1.20 loss per share (further deteriorated from kr0.78 loss in FY 2024). Revenue: kr1.19b (flat on FY 2024). Net loss: kr19.9m (loss widened 54% from FY 2024). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 65%. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Media industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Nov 26
Chief Technology Officer recently bought kr613k worth of stock On the 21st of November, Christian Longberg bought around 22k shares on-market at roughly kr27.50 per share. This transaction amounted to 4.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.5m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 10
Independent Chairman of the Board recently bought kr332k worth of stock On the 5th of November, Max Heger bought around 13k shares on-market at roughly kr26.13 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Max has been a buyer over the last 12 months, purchasing a net total of kr879k worth in shares. Reported Earnings • Nov 05
Third quarter 2025 earnings: Revenues exceed analyst expectations Third quarter 2025 results: Revenue: kr286.8m (down 1.7% from 3Q 2024). Net loss: kr6.14m (loss widened 16% from 3Q 2024). Revenue exceeded analyst estimates by 1.8%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Media industry in Europe. New Risk • Nov 04
New major risk - Revenue and earnings growth Earnings have declined by 78% 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 Risk Earnings have declined by 78% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (kr446.7m market cap, or US$46.7m). Upcoming Dividend • Oct 20
Upcoming dividend of kr1.00 per share Eligible shareholders must have bought the stock before 27 October 2025. Payment date: 31 October 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 6.7%. Within top quartile of Swedish dividend payers (3.9%). Higher than average of industry peers (4.4%). Recent Insider Transactions • Aug 07
Independent Chairman of the Board recently bought kr116k worth of stock On the 5th of August, Max Heger bought around 4k shares on-market at roughly kr28.30 per share. This transaction amounted to 3.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Max's only on-market trade for the last 12 months. Reported Earnings • Jul 25
Second quarter 2025 earnings: Revenues miss analyst expectations Second quarter 2025 results: Revenue: kr265.3m (down 4.1% from 2Q 2024). Net loss: kr8.11m (loss widened 19% from 2Q 2024). Revenue missed analyst estimates by 2.6%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Media industry in Sweden. Major Estimate Revision • Apr 29
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -kr1.31 to -kr1.48 per share. Revenue forecast unchanged at kr1.25b. Media industry in Sweden expected to see average net income growth of 20% next year. Consensus price target down from kr39.00 to kr33.00. Share price fell 4.6% to kr31.10 over the past week. Upcoming Dividend • Apr 16
Upcoming dividend of kr1.00 per share Eligible shareholders must have bought the stock before 23 April 2025. Payment date: 29 April 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 6.3%. Within top quartile of Swedish dividend payers (4.2%). Higher than average of industry peers (4.5%). Major Estimate Revision • Mar 05
Consensus estimates of losses per share improve by 75% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from kr1.26b to kr1.33b. EPS estimate increased from -kr1.31 per share to -kr0.33 per share. Media industry in Sweden expected to see average net income growth of 9.0% next year. Consensus price target of kr39.00 unchanged from last update. Share price fell 3.5% to kr33.50 over the past week. Major Estimate Revision • Feb 28
Consensus EPS estimates fall by 297% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from kr1.33b to kr1.26b. Losses expected to increase from kr0.33 per share to kr1.31. Media industry in Sweden expected to see average net income growth of 8.8% next year. Consensus price target down from kr42.00 to kr39.00. Share price rose 4.3% to kr33.90 over the past week. Price Target Changed • Feb 25
Price target decreased by 7.1% to kr39.00 Down from kr42.00, the current price target is provided by 1 analyst. New target price is 19% above last closing price of kr32.90. Stock is down 30% over the past year. The company is forecast to post a net loss per share of kr1.31 next year compared to a net loss per share of kr0.78 last year. Reported Earnings • Feb 24
Third quarter 2024 earnings released: kr0.32 loss per share (vs kr0.16 profit in 3Q 2023) Third quarter 2024 results: kr0.32 loss per share (down from kr0.16 profit in 3Q 2023). Revenue: kr291.8m (down 18% from 3Q 2023). Net loss: kr5.29m (down 299% from profit in 3Q 2023). Revenue is forecast to grow 3.7% p.a. on average during the next 4 years, compared to a 3.0% growth forecast for the Media industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. New Risk • Feb 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (kr539.7m market cap, or US$50.7m). Announcement • Feb 22
Adtraction Group AB, Annual General Meeting, Apr 22, 2025 Adtraction Group AB, Annual General Meeting, Apr 22, 2025. Price Target Changed • Nov 05
Price target increased by 11% to kr42.00 Up from kr38.00, the current price target is provided by 1 analyst. New target price is 7.4% above last closing price of kr39.10. Stock is down 9.7% over the past year. The company is forecast to post a net loss per share of kr0.70 next year compared to a net loss per share of kr0.081 last year. Reported Earnings • Nov 04
Third quarter 2024 earnings: Revenues miss analyst expectations Third quarter 2024 results: Revenue: kr292.7m (down 17% from 3Q 2023). Net loss: kr5.29m (down 299% from profit in 3Q 2023). Revenue missed analyst estimates by 3.8%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Media industry in Sweden. Upcoming Dividend • Oct 18
Upcoming dividend of kr1.00 per share Eligible shareholders must have bought the stock before 25 October 2024. Payment date: 31 October 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.3%. Within top quartile of Swedish dividend payers (4.6%). Higher than average of industry peers (4.0%). Buy Or Sell Opportunity • Aug 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to kr34.40. The fair value is estimated to be kr43.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 3.8% in 2 years. Earnings are forecast to decline by 627% in the next 2 years. Major Estimate Revision • Aug 02
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from kr1.37b to kr1.22b. Forecast loss of -kr0.673, down from profit of kr0.138 per share profit previously. Media industry in Sweden expected to see average net income growth of 11% next year. Consensus price target down from kr45.00 to kr38.00. Share price fell 5.9% to kr35.10 over the past week. New Risk • Jul 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.7% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 8.7% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (dividend per share is over 27x earnings per share). Profit margins are more than 30% lower than last year (0.09% net profit margin). Shareholders have been diluted in the past year (41% increase in shares outstanding). Market cap is less than US$100m (kr614.5m market cap, or US$57.0m). Reported Earnings • Jul 28
Second quarter 2024 earnings: Revenues miss analyst expectations Second quarter 2024 results: Revenue: kr278.2m (down 14% from 2Q 2023). Net loss: kr6.84m (loss widened 55% from 2Q 2023). Revenue missed analyst estimates by 15%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Media industry in Sweden. Reported Earnings • May 05
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr290.7m (flat on 1Q 2023). Net income: kr354.0k (up kr4.98m from 1Q 2023). Profit margin: 0.1% (up from net loss in 1Q 2023). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Media industry in Sweden. Major Estimate Revision • Feb 29
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from kr1.46b to kr1.35b. Now expected to report a loss of kr0.11 per share instead of kr0.874 per share profit previously forecast. Media industry in Sweden expected to see average net income growth of 19% next year. Consensus price target down from kr55.00 to kr50.00. Share price fell 7.6% to kr45.30 over the past week. Price Target Changed • Feb 25
Price target decreased by 9.1% to kr50.00 Down from kr55.00, the current price target is provided by 1 analyst. New target price is 5.3% above last closing price of kr47.50. Stock is up 13% over the past year. The company is forecast to post a net loss per share of kr0.11 next year compared to a net loss per share of kr0.081 last year. Reported Earnings • Feb 23
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: kr0.081 loss per share (down from kr1.70 profit in FY 2022). Revenue: kr1.35b (up 46% from FY 2022). Net loss: kr1.35m (down 107% from profit in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 157%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Media industry in Sweden. Board Change • Feb 01
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. 1 highly experienced director. Independent Chairman of the Board Elin Eriksson was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Nov 06
New major risk - Revenue and earnings growth Earnings have declined by 24% 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 Risk Earnings have declined by 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Profit margins are more than 30% lower than last year (0.2% net profit margin). Shareholders have been diluted in the past year (41% increase in shares outstanding). Market cap is less than US$100m (kr685.9m market cap, or US$63.0m). Reported Earnings • Nov 06
Third quarter 2023 earnings: Revenues in line with analyst expectations Third quarter 2023 results: Revenue: kr355.1m (up 48% from 3Q 2022). Net income: kr2.65m (down 49% from 3Q 2022). Profit margin: 0.7% (down from 2.2% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Media industry in Sweden. New Risk • Nov 03
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 8.9% 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: Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Profit margins are more than 30% lower than last year (0.5% net profit margin). Shareholders have been diluted in the past year (41% increase in shares outstanding). Market cap is less than US$100m (kr685.9m market cap, or US$63.0m). Major Estimate Revision • Aug 25
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from kr1.41b to kr1.36b. Losses expected to increase from kr0.35 per share to kr0.39. Media industry in Sweden expected to see average net income growth of 15% next year. Consensus price target of kr50.00 unchanged from last update. Share price rose 5.5% to kr38.40 over the past week. Reported Earnings • Aug 20
Second quarter 2023 earnings: Revenues miss analyst expectations Second quarter 2023 results: Revenue: kr325.2m (up 49% from 2Q 2022). Net loss: kr4.42m (down 232% from profit in 2Q 2022). Revenue missed analyst estimates by 3.6%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Media industry in Sweden. Reported Earnings • May 08
First quarter 2023 earnings: Revenues in line with analyst expectations First quarter 2023 results: Revenue: kr292.7m (up 45% from 1Q 2022). Net loss: kr4.63m (down 283% from profit in 1Q 2022). Revenue was in line with analyst estimates. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Media industry in Sweden. Reported Earnings • Feb 24
Full year 2022 earnings released Full year 2022 results: Revenue: kr928.4m (up 33% from FY 2021). Net income: kr20.0m (up 4.0% from FY 2021). Profit margin: 2.2% (down from 2.8% in FY 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment deteriorated over the past week After last week's 26% share price decline to kr40.50, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 27x in the Media industry in Sweden. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 17% share price gain to kr44.85, the stock trades at a trailing P/E ratio of 35.3x. Average trailing P/E is 25x in the Media industry in Sweden. Reported Earnings • Jul 27
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr217.8m (up 29% from 2Q 2021). Net income: kr3.34m (down 15% from 2Q 2021). Profit margin: 1.5% (down from 2.3% in 2Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 16% share price gain to kr40.00, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 25x in the Media industry in Sweden. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 22% share price gain to kr37.85, the stock trades at a trailing P/E ratio of 25.2x. Average trailing P/E is 24x in the Media industry in Sweden. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to kr32.15, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 22x in the Media industry in Sweden. Reported Earnings • Apr 04
Full year 2021 earnings released Full year 2021 results: EPS: kr2.58. Revenue: kr698.3m (up 28% from FY 2020). Net income: kr19.2m (up 8.2% from FY 2020). Profit margin: 2.8% (down from 3.3% in FY 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorated over the past week After last week's 15% share price decline to kr45.00, the stock trades at a trailing P/E ratio of 27.5x. Average trailing P/E is 48x in the Media industry in Sweden. Reported Earnings • Feb 20
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr2.58. Revenue: kr698.3m (up 28% from FY 2020). Net income: kr19.2m (up 8.2% from FY 2020). Profit margin: 2.8% (down from 3.3% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates.