New Risk • Jun 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% This is considered a minor 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: Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (kr241.5m market cap, or US$25.4m). Reported Earnings • May 24
First quarter 2026 earnings released First quarter 2026 results: Revenue: kr41.2m (down 6.2% from 1Q 2025). Net income: kr460.0k (down 97% from 1Q 2025). Profit margin: 1.1% (down from 30% in 1Q 2025). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Interactive Media and Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Apr 29
Alpcot Holding AB (publ), Annual General Meeting, May 28, 2026 Alpcot Holding AB (publ), Annual General Meeting, May 28, 2026, at 10:00 W. Europe Standard Time. Location: companys office, grev turegatan 18, stockholm Sweden New Risk • Feb 28
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 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 Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Market cap is less than US$100m (kr190.0m market cap, or US$21.1m). Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to kr1.17, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 18x in the Interactive Media and Services industry in Europe. Total loss to shareholders of 34% over the past three years. Reported Earnings • Feb 21
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: kr0.03 (up from kr0.14 loss in FY 2024). Revenue: kr136.2m (up 24% from FY 2024). Net income: kr4.13m (up kr27.4m from FY 2024). Profit margin: 3.0% (up from net loss in FY 2024). Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Interactive Media and Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. New Risk • Dec 16
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: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (kr199.8m market cap, or US$21.5m). Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to kr1.34, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 38x in the Interactive Media and Services industry in Sweden. Total returns to shareholders of 17% over the past three years. Reported Earnings • Aug 22
Second quarter 2025 earnings released: kr0.06 loss per share (vs kr0.07 loss in 2Q 2024) Second quarter 2025 results: kr0.06 loss per share (improved from kr0.07 loss in 2Q 2024). Revenue: kr20.8m (down 7.5% from 2Q 2024). Net loss: kr10.3m (loss narrowed 11% from 2Q 2024). Reported Earnings • May 19
First quarter 2025 earnings released: EPS: kr0.08 (vs kr0.075 loss in 1Q 2024) First quarter 2025 results: EPS: kr0.08 (up from kr0.075 loss in 1Q 2024). Revenue: kr44.0m (up 81% from 1Q 2024). Net income: kr13.1m (up kr25.3m from 1Q 2024). Profit margin: 30% (up from net loss in 1Q 2024). The move to profitability was primarily driven by higher revenue. Announcement • Apr 26
Alpcot Holding AB (publ), Annual General Meeting, May 28, 2025 Alpcot Holding AB (publ), Annual General Meeting, May 28, 2025, at 10:00 W. Europe Standard Time. Location: at the company`s office, grev turegatan 18, stockholm. Sweden Reported Earnings • Feb 26
Full year 2024 earnings released: kr0.14 loss per share (vs kr0.11 loss in FY 2023) Full year 2024 results: kr0.14 loss per share (further deteriorated from kr0.11 loss in FY 2023). Revenue: kr110.1m (up 8.0% from FY 2023). Net loss: kr23.3m (loss widened 35% from FY 2023). Over the last 3 years on average, earnings per share has increased by 143% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. New Risk • Dec 30
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 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Market cap is less than US$10m (kr97.5m market cap, or US$8.83m). Reported Earnings • Nov 18
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr29.6m (up 30% from 3Q 2023). Net loss: kr90.0k (loss narrowed 98% from 3Q 2023). New Risk • Oct 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr102.3m (US$9.87m) 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 Risk Market cap is less than US$10m (kr102.3m market cap, or US$9.87m). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Reported Earnings • Aug 18
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr22.5m (down 3.9% from 2Q 2023). Net loss: kr11.6m (loss widened 42% from 2Q 2023). Reported Earnings • May 25
First quarter 2024 earnings released: kr0.08 loss per share (vs kr0.028 profit in 1Q 2023) First quarter 2024 results: kr0.08 loss per share (down from kr0.028 profit in 1Q 2023). Revenue: kr24.4m (down 25% from 1Q 2023). Net loss: kr12.2m (down 414% from profit in 1Q 2023). New Risk • Mar 28
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 11% 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 (11% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (kr136.8m market cap, or US$12.8m). Reported Earnings • Feb 26
Full year 2023 earnings released: kr0.11 loss per share (vs kr0.23 loss in FY 2022) Full year 2023 results: kr0.11 loss per share (improved from kr0.23 loss in FY 2022). Revenue: kr101.9m (up 27% from FY 2022). Net loss: kr17.3m (loss narrowed 44% from FY 2022). Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr22.8m (down 15% from 3Q 2022). Net loss: kr5.79m (loss widened 45% from 3Q 2022). New Risk • Aug 22
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 14% 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 (14% average weekly change). Earnings have declined by 13% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (kr212.9m market cap, or US$19.5m). New Risk • Jul 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.3% This is considered a minor 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 Risk Earnings have declined by 13% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (kr199.4m market cap, or US$18.2m). New Risk • Jun 09
New major risk - Revenue and earnings growth Earnings have declined by 13% 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 (14% average weekly change). Earnings have declined by 13% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Market cap is less than US$100m (kr206.2m market cap, or US$19.0m). Board Change • Jan 18
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Joakim Kunstlicher is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model.