High Growth Tech Stocks in Sweden to Watch This September 2024

As European markets reach record highs and inflation nears the central bank's target, Sweden's tech sector stands out with promising growth potential. In this article, we will explore three high-growth tech stocks in Sweden to watch this September 2024, focusing on their innovative capabilities and market positioning amidst favorable economic conditions.

Top 10 High Growth Tech Companies In Sweden

Name	Revenue Growth	Earnings Growth	Growth Rating
Truecaller	20.32%	21.61%	★★★★★★
Fortnox	20.18%	22.60%	★★★★★★
Xbrane Biopharma	53.89%	118.02%	★★★★★★
Bonesupport Holding	33.76%	31.20%	★★★★★★
Scandion Oncology	41.84%	75.34%	★★★★★★
Hemnet Group	20.13%	25.41%	★★★★★★
Skolon	31.76%	121.72%	★★★★★★
BioArctic	42.33%	98.40%	★★★★★★
Yubico	20.43%	42.51%	★★★★★★
KebNi	34.75%	86.11%	★★★★★★

Click here to see the full list of 83 stocks from our Swedish High Growth Tech and AI Stocks screener.

Underneath we present a selection of stocks filtered out by our screen.

Telefonaktiebolaget LM Ericsson (OM:ERIC B)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Telefonaktiebolaget LM Ericsson (publ) and its subsidiaries offer mobile connectivity solutions for telecom operators and enterprise customers across North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India with a market cap of SEK253.92 billion.

Operations: Ericsson generates revenue primarily from three segments: Networks (SEK157.93 billion), Enterprise (SEK25.83 billion), and Cloud Software and Services (SEK63.35 billion). The company's offerings cater to telecom operators and various enterprise sectors globally, providing comprehensive mobile connectivity solutions.

Ericsson's recent collaboration with NRTC, Southern Linc, and Anterix to deliver private network solutions for electric cooperatives in the U.S. underscores its commitment to innovation and resilience in critical infrastructure. Despite a 2.7% annual revenue growth forecast, Ericsson faces challenges highlighted by a SEK 11.4 billion impairment in Q2 2024 due to slowed market growth. The company's robust R&D investments, reflected by SEK 38 billion spent last year, are essential for advancing its dual-mode 5G Core solution and securing future profitability amidst evolving market dynamics.

• Take a closer look at Telefonaktiebolaget LM Ericsson's potential here in our health report.

• Understand Telefonaktiebolaget LM Ericsson's track record by examining our Past report.

Swedish Orphan Biovitrum (OM:SOBI)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Swedish Orphan Biovitrum AB (publ) is an integrated biotechnology company that researches, develops, manufactures, and sells pharmaceuticals in haematology, immunology, and specialty care across Europe, North America, the Middle East, Asia, and Australia with a market cap of SEK108.17 billion.

Operations: SOBI generates revenue primarily from its haematology segment (SEK 15.07 billion), followed by immunology (SEK 7.49 billion) and specialty care (SEK 1.15 billion). The company operates across multiple regions, including Europe, North America, the Middle East, Asia, and Australia.

Swedish Orphan Biovitrum (Sobi) is set to see a 9.4% annual revenue growth, outpacing the Swedish market's 1%. Despite a recent 31.4% earnings drop, Sobi's projected 25.8% annual profit growth remains robust. The company’s R&D expenditures of SEK 2.5 billion in the past year underscore its commitment to innovation, particularly in rare diseases like haemophilia A and chronic refractory gout. Recent results from Phase 3 VALIANT and XTEND-Kids studies highlight Sobi’s strong pipeline, with significant clinical advancements poised to drive future growth.

• Unlock comprehensive insights into our analysis of Swedish Orphan Biovitrum stock in this health report.

• Explore historical data to track Swedish Orphan Biovitrum's performance over time in our Past section.

Vitrolife (OM:VITR)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Vitrolife AB (publ) specializes in providing assisted reproduction products and has a market cap of SEK33.88 billion.

Operations: The company generates revenue from three primary segments: Genetics (SEK 1.25 billion), Consumables (SEK 1.57 billion), and Technologies (SEK 708 million).

Vitrolife, a notable player in the biotech sector, recently reported Q2 sales of SEK 941 million and net income of SEK 143 million. Revenue is forecasted to grow at 7.8% annually, outpacing the Swedish market's growth rate of 1%. With an expected profit growth rate of 105.8% per year over the next three years, Vitrolife shows strong potential despite current unprofitability. The company's R&D expenses underscore its commitment to innovation in reproductive health technologies.

• Delve into the full analysis health report here for a deeper understanding of Vitrolife.

• Evaluate Vitrolife's historical performance by accessing our past performance report.

Make It Happen

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Want To Explore Some Alternatives?

• 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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