High Growth Tech Stocks To Watch In Sweden August 2024

As global markets continue to recover from the early August sell-off, the technology-heavy Nasdaq Composite has led gains, reflecting a robust investor sentiment towards growth stocks. In this context, identifying high-growth tech stocks in Sweden becomes particularly relevant as we look for companies with strong potential to capitalize on this positive market momentum.

Top 10 High Growth Tech Companies In Sweden

Name	Revenue Growth	Earnings Growth	Growth Rating
Skolon	32.23%	66.02%	★★★★★★
Bonesupport Holding	33.76%	31.20%	★★★★★★
Xbrane Biopharma	58.38%	105.19%	★★★★★★
Hemnet Group	20.13%	25.41%	★★★★★★
Biovica International	73.36%	73.75%	★★★★★★
Yubico	22.52%	43.70%	★★★★★★
Sileon	40.13%	109.34%	★★★★★★
BioArctic	39.57%	102.80%	★★★★★★
KebNi	34.75%	86.11%	★★★★★★
edyoutec	26.51%	63.05%	★★★★★★

Click here to see the full list of 81 stocks from our Swedish High Growth Tech and AI Stocks screener.

Let's uncover some gems from our specialized screener.

Embracer Group (OM:EMBRAC B)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Embracer Group AB (publ) is a global developer and publisher of PC, console, mobile, VR, and board games with a market cap of SEK33.01 billion.

Operations: Embracer Group AB (publ) generates revenue primarily from tabletop games (SEK14.65 billion), PC/console games (SEK13.10 billion), mobile games (SEK5.87 billion), and entertainment & services (SEK6.13 billion). The company operates globally, developing and publishing a diverse range of gaming products across various platforms.

Embracer Group's recent performance reveals a challenging landscape, with Q1 2024 sales at SEK 7.93 billion, down from SEK 10.45 billion the previous year, and a net loss of SEK 2.18 billion compared to a net income of SEK 2.25 billion last year. Despite these setbacks, the company is forecasted to achieve revenue growth of 4.5% annually and earnings growth of an impressive 116.57% per year over the next three years, suggesting potential for significant recovery and expansion in the tech sector. The company's substantial investment in R&D is noteworthy; with expenses totaling approximately SEK 4 billion annually, this commitment underscores Embracer's focus on innovation within its diverse portfolio spanning gaming and entertainment sectors. Additionally, securing a new EUR 600 million revolving credit facility indicates strong financial maneuverability aimed at reducing interest expenses and enhancing liquidity for future strategic initiatives.

• Dive into the specifics of Embracer Group here with our thorough health report.

• Review our historical performance report to gain insights into Embracer Group's's past performance.

Fortnox (OM:FNOX)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Fortnox AB (publ) offers financial and administrative software solutions tailored for small and medium-sized businesses, accounting firms, and organizations, with a market cap of SEK34.73 billion.

Operations: The company generates revenue through various segments including Businesses (SEK 378 million), Marketplaces (SEK 160 million), Core Products (SEK 734 million), Accounting Firms (SEK 352 million), and Financial Services (SEK 249 million). The primary focus is on providing financial and administrative software solutions.

Fortnox's recent earnings report highlights a robust performance with Q2 2024 revenue at SEK 521 million, up from SEK 413 million the previous year, and net income rising to SEK 164 million from SEK 127 million. The company's R&D expenses underscore its commitment to innovation, contributing significantly to its competitive edge. With forecasted annual revenue growth of 19.9% and earnings growth of 22.3%, Fortnox is well-positioned for continued expansion in the tech sector.

• Get an in-depth perspective on Fortnox's performance by reading our health report here.

• Gain insights into Fortnox's past trends and performance with our Past report.

Truecaller (OM:TRUE B)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Truecaller AB (publ) develops and publishes mobile caller ID applications for individuals and businesses in India, the Middle East, Africa, and internationally, with a market cap of SEK12.49 billion.

Operations: Truecaller AB (publ) generates revenue primarily from its communications software segment, which contributed SEK1.72 billion. The company focuses on mobile caller ID applications for a global market including India, the Middle East, and Africa.

Truecaller, a prominent player in Sweden's tech landscape, reported Q2 2024 revenue of SEK 457.87 million, down from SEK 519.07 million the previous year. Despite a net income drop to SEK 123.01 million from SEK 205.95 million, the company is making significant strides with innovative offerings like Truecaller Fraud Insurance and AI Call Scanner. With forecasted annual earnings growth at 21.5% and revenue growth at 19.8%, Truecaller's R&D expenses reflect its dedication to staying ahead in AI-driven solutions for fraud prevention and user safety enhancements.

• Click here and access our complete health analysis report to understand the dynamics of Truecaller.

• Assess Truecaller's past performance with our detailed historical performance reports.

Turning Ideas Into Actions

• Navigate through the entire inventory of 81 Swedish High Growth Tech and AI Stocks here.
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Looking For Alternative Opportunities?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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