Recent Insider Transactions • Jun 14
Independent Director recently bought kr57k worth of stock On the 10th of June, Mikael Olsson bought around 1k shares on-market at roughly kr56.51 per share. This transaction amounted to 2.9% 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 kr107k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 12
Independent Director recently bought kr57k worth of stock On the 10th of June, Mikael Olsson bought around 1k shares on-market at roughly kr56.51 per share. This transaction amounted to 2.9% 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 kr107k more in shares than they have sold in the last 12 months. Announcement • Jun 01
Vertiseit AB (publ) (OM:VERT B) completed the acquisition of Scala, Inc. from Stratacache, Inc. Vertiseit AB (publ) (OM:VERT B) entered into a definitive agreement to acquire Scala, Inc. from Stratacache, Inc. for approximately SEK 270 million on May 20, 2026. The transaction will be financed through a combination of an expanded credit facility with Nordea Bank and proceeds from a directed share issue.
The expected date of closing of the transaction is from May 20,2026 to May 31, 2026.
Redeye AB acted as a financial advisor to Vertiseit AB (publ) (OM: VERT B).
Vertiseit AB (publ) (OM:VERT B) completed the acquisition of Scala, Inc. from Stratacache, Inc. on June 1, 2026 Recent Insider Transactions Derivative • May 31
Chief Executive Officer of Dise exercised options and sold kr80k worth of stock On the 25th of May, Sebastian Kryh exercised options to acquire 8k shares at no cost and sold these for an average price of kr10.00 per share. This trade did not impact their existing holding. Since March 2026, Sebastian has owned 5.04k shares directly. Company insiders have collectively sold kr29k more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • May 25
Price target increased by 7.3% to kr71.17 Up from kr66.33, the current price target is an average from 3 analysts. New target price is 23% above last closing price of kr57.80. Stock is up 1.4% over the past year. The company is forecast to post earnings per share of kr1.17 for next year compared to kr0.20 last year. Major Estimate Revision • May 25
Consensus revenue estimates increase by 15%, EPS downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from kr695.5m to kr799.4m. EPS estimate fell from kr1.33 to kr1.17. Net income forecast to grow 2,513% next year vs 50% growth forecast for Software industry in Sweden. Consensus price target up from kr66.33 to kr71.17. Share price rose 18% to kr57.80 over the past week. Announcement • May 22
Vertiseit AB (publ) (OM:VERT B) completed the acquisition of Scala, Inc. from Stratacache, Inc. Vertiseit AB (publ) (OM:VERT B) acquired Scala, Inc. from Stratacache, Inc. for approximately SEK 270 million on May 20, 2026. A cash consideration will be paid by Vertiseit AB (publ). As part of consideration, an undisclosed value is paid towards common equity of Scala, Inc. The purchase price amounts to approximately SEK 265 million and will be paid in full on closing through a combination of an expanded credit facility with Nordea Bank and proceeds from a directed share issue, which will be announced in a separate press release.
Vertiseit AB (publ) (OM:VERT B) completed the acquisition of Scala, Inc. from Stratacache, Inc. for on May 20, 2026. Major Estimate Revision • Apr 29
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from kr740.2m to kr695.5m. EPS estimate also fell from kr1.67 per share to kr1.33 per share. Net income forecast to grow 2,381% next year vs 32% growth forecast for Software industry in Sweden. Consensus price target of kr66.33 unchanged from last update. Share price fell 8.4% to kr54.80 over the past week. Reported Earnings • Apr 22
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: kr0.056 (down from kr0.19 in 1Q 2025). Revenue: kr165.5m (down 3.0% from 1Q 2025). Net income: kr1.69m (down 70% from 1Q 2025). Profit margin: 1.0% (down from 3.3% in 1Q 2025). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 88%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Software industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Announcement • Mar 21
Vertiseit AB (publ), Annual General Meeting, Apr 22, 2026 Vertiseit AB (publ), Annual General Meeting, Apr 22, 2026, at 18:00 W. Europe Standard Time. Location: at vertiseit`s office, kyrkogatan 7 varberg, Sweden Recent Insider Transactions • Mar 02
Chief Marketing Officer recently bought kr51k worth of stock On the 24th of February, Monika Lindquist bought around 901 shares on-market at roughly kr56.42 per share. This transaction amounted to 48% 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 kr110k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Feb 26
Chief Marketing Officer recently bought kr51k worth of stock On the 24th of February, Monika Lindquist bought around 901 shares on-market at roughly kr56.42 per share. This transaction amounted to 48% 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 kr110k more in shares than they have sold in the last 12 months. Major Estimate Revision • Feb 19
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from kr752.0m to kr737.2m. EPS estimate also fell from kr2.34 per share to kr1.91 per share. Net income forecast to grow 975% next year vs 29% growth forecast for Software industry in Sweden. Consensus price target down from kr68.17 to kr66.17. Share price rose 16% to kr55.40 over the past week. New Risk • Feb 15
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 39% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Reported Earnings • Feb 13
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: kr0.20 (down from kr1.79 in FY 2024). Revenue: kr679.0m (up 46% from FY 2024). Net income: kr6.04m (down 85% from FY 2024). Profit margin: 0.9% (down from 8.9% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 55%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Software industry in Sweden. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Dec 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to kr62.00. The fair value is estimated to be kr78.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 32%. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings are also forecast to grow by 60% per annum over the same time period. Announcement • Nov 20
Vertiseit AB (publ) (OM:VERT B) acquired Muse Content GmbH for €4 million. Vertiseit AB (publ) (OM:VERT B) acquired Muse Content GmbH for €4 million on November 18, 2025. A cash consideration of €2.21 million will be paid by Vertiseit AB (publ). The consideration consists of 0.19 million common equity of Vertiseit AB (publ) having a value of €1.19 million to be issued for common equity of Muse Content GmbH. Vertiseit AB (publ) will pay an earnout/contingent payment of €0.6 million cash. As part of consideration, €4 million is paid towards common equity of Muse Content GmbH.
For period ending December 31, 2024 Muse Content GmbH reported total revenues for €3 million. WistrandAdvokatyrå acted as legal advisor for Vertiseit AB. Nordic Issuing is the issuing agent for the Directed Issue.
Vertiseit AB (publ) (OM:VERT B) completed the acquisition of Muse Content GmbH for €4 million on November 18, 2025 Buy Or Sell Opportunity • Nov 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.6% to kr62.40. The fair value is estimated to be kr78.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 32%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings are also forecast to grow by 59% per annum over the same time period. Reported Earnings • Oct 26
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: kr0.35 (down from kr0.47 in 3Q 2024). Revenue: kr151.1m (up 84% from 3Q 2024). Net income: kr10.6m (down 2.4% from 3Q 2024). Profit margin: 7.0% (down from 13% in 3Q 2024). Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 38%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Software industry in Sweden. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Sep 30
Price target increased by 7.5% to kr67.17 Up from kr62.50, the current price target is an average from 3 analysts. New target price is 10% below last closing price of kr74.80. Stock is up 64% over the past year. The company is forecast to post earnings per share of kr0.68 for next year compared to kr1.79 last year. Price Target Changed • Aug 26
Price target increased by 9.6% to kr68.50 Up from kr62.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of kr68.60. Stock is up 51% over the past year. The company is forecast to post earnings per share of kr0.70 for next year compared to kr1.79 last year. Reported Earnings • Jul 18
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: kr0.56 loss per share (down from kr0.41 profit in 2Q 2024). Revenue: kr168.9m (up 95% from 2Q 2024). Net loss: kr16.9m (down 292% from profit in 2Q 2024). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in Sweden. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Announcement • Jul 08
Vertiseit AB (publ) (OM:VERT B) acquired Mdt Medientechnik GmbH for SEK 87 million. Vertiseit AB (publ) (OM:VERT B) acquired Mdt Medientechnik GmbH for SEK 87 million on July 7, 2025. A cash consideration of SEK 87 million will be paid by Vertiseit AB (publ). As part of consideration, SEK 87 million is paid towards common equity of Mdt Medientechnik GmbH. The transaction will be financed through Vertiseit's own generated cash together with existing credit facilities. WistrandAdvokatyrå acted as legal advisor and Redeye AB acted as financial advisor to Vertiseit AB.
Vertiseit AB (publ) (OM:VERT B) completed the acquisition of Mdt Medientechnik GmbH for SEK 87 million on July 7, 2025. Major Estimate Revision • May 01
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from kr769.1m to kr760.0m. EPS estimate also fell from kr1.96 per share to kr1.72 per share. Net income forecast to grow 95% next year vs 32% growth forecast for Software industry in Sweden. Consensus price target of kr64.00 unchanged from last update. Share price fell 12% to kr57.00 over the past week. Recent Insider Transactions • Apr 30
Independent Director recently bought kr59k worth of stock On the 28th of April, Mikael Olsson bought around 1k shares on-market at roughly kr56.65 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr26m more in shares than they bought in the last 12 months. Announcement • Apr 25
Adrian Nelje Not to Stand for Re-Election as Director of Vertiseit AB (Publ) Vertiseit AB (publ) at its AGM, held on, 24 April 2025, noted that Adrian Nelje was not seeking re-election as director. Buy Or Sell Opportunity • Apr 24
Now 25% undervalued Over the last 90 days, the stock has risen 18% to kr59.40. The fair value is estimated to be kr79.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 83%. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings are also forecast to grow by 33% per annum over the same time period. Reported Earnings • Apr 10
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: kr1.79 (up from kr0.58 in FY 2023). Revenue: kr464.1m (up 34% from FY 2023). Net income: kr41.2m (up 247% from FY 2023). Profit margin: 8.9% (up from 3.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 3.4%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in Sweden. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr52.80, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 26x in the Software industry in Sweden. Total returns to shareholders of 85% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr83.52 per share. Announcement • Mar 25
Vertiseit AB (publ), Annual General Meeting, Apr 24, 2025 Vertiseit AB (publ), Annual General Meeting, Apr 24, 2025, at 17:00 W. Europe Standard Time. Location: at vertiseits office, kyrkogatan 7, varberg Sweden Announcement • Mar 18
Vertiseit AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 56 million. Vertiseit AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 56 million.
Security Name: Warrants
Security Type: Equity Warrant
Securities Offered: 875,000
Price\Range: SEK 64
Transaction Features: Subsequent Direct Listing New Risk • Feb 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 27% This is considered a major 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. This is currently the only risk that has been identified for the company. Price Target Changed • Feb 13
Price target increased by 8.2% to kr66.25 Up from kr61.25, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of kr64.00. Stock is up 129% over the past year. The company is forecast to post earnings per share of kr2.00 for next year compared to kr1.79 last year. Reported Earnings • Feb 13
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: kr1.79 (up from kr0.58 in FY 2023). Revenue: kr470.5m (up 35% from FY 2023). Net income: kr41.2m (up 247% from FY 2023). Profit margin: 8.7% (up from 3.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 3.4%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in Sweden. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Jan 30
Vertiseit AB (publ) to Report Fiscal Year 2024 Final Results on Apr 07, 2025 Vertiseit AB (publ) announced that they will report fiscal year 2024 final results at 9:00 AM, Central European Standard Time on Apr 07, 2025 Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr53.20, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 18x in the Software industry in Sweden. Total returns to shareholders of 36% over the past three years. Reported Earnings • Nov 01
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: kr0.47 (up from kr0.46 in 3Q 2023). Revenue: kr84.0m (down 13% from 3Q 2023). Net income: kr10.9m (up 16% from 3Q 2023). Profit margin: 13% (up from 9.8% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in Sweden. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Oct 29
Vertiseit AB (Publ) Appoints Carl Backman as Board Member Vertiseit AB (publ) in its Extraordinary General Meeting held on October 28, 2024 resolved that the number of board members elected by the meeting, until the end of the next annual general meeting, should be seven, with no deputies. In accordance with the nomination committee's proposal, the meeting further resolved to elect Carl Backman as a new ordinary board member. It was noted that the current board members Ann Öberg, Vilhelm Schottenius, Mikael Olsson, Jon Linden, Johanna Schottenius, and Adrian Nelje remain as ordinary board members. Ann Öberg continues as Chair of the Board. Announcement • Oct 03
Vertiseit AB (publ) (OM:VERT B) acquired Visual Art Sweden AB for SEK 457 million. Vertiseit AB (publ) (OM:VERT B) acquired Visual Art Sweden AB for SEK 457 million on October 2, 2024. Vertiseit acquires all outstanding shares in Visual Art for a purchase price of SEK 457 million on a debt- and cash-free basis, which will be comprised of cash payment, issue of new B-shares in the Company and warrants, entitling the sellers to subscribe for up to one million B-shares in Vertiseit. Founders and previous shareholders of Visual Art, including key executives, reinvest approximately SEK 50 million in Vertiseit by offsetting part of the purchase price for B-shares in the Company. A resolution regarding the the Directed Issue and the warrant issue requires approval by at least two thirds of the votes cast and shares represented at the extraordinary general meeting, expected to be held around October 28, 2024. The Board of Directors of Vertiseit has today resolved to carry out a Directed Issue of 5,914,719 B-shares at a subscription price of SEK 4,220 per B-share, subject to subsequent approval by an extraordinary general meeting. The issue is directed to Bonnier Capital and some of the Sellers, deviating from shareholders' preferential rights. In addition to the above, the board of directors has also decided to issue one million warrants at a subscription price of SEK 7.22 per warrant, subject to subsequent approval by an extraordinary general meeting. The right to subscribe for the warrants shall, deviating from shareholders' preferential rights, be reserved for the Sellers and entitles the warrant holders to subscribe for up to a total of one million Bshares in Vertiseit. The acquisition is financed through a combination of a loan of SEK 225 million from Nordea Bank and a new share issue of approximately SEK 250 million directed partly to previous shareholders of Visual Art and partly to Bonnier Capital AB which becomes the new main owner of Vertiseit.
For the period ending December 31, 2023, Visual Art Sweden AB reported total revenue of SEK 345 million.
WistrandAdvokatyrå acted as legal advisor to Vertiseit AB. Carnegie Investment Bank AB acted as financial advisor and Setterwalls Advokatbyrå Ab acted as legal advisor to sellers of Visual Art Sweden AB.
Vertiseit AB (publ) (OM:VERT B) completed the acquisition of Visual Art Sweden AB on October 2, 2024. Announcement • Sep 27
Vertiseit AB Appoints Anders Henricson as the New CEO of Its Subsidiary Grassfish Vertiseit AB announced that Anders Henricson has been appointed as the new CEO of its subsidiary Grassfish. Anders Henricson, currently serving as Business Regional Manager at IKEA, will assume the role as CEO of Grassfish on November 4 and will be part of Vertiseit's group management team. This summer, Grassfish conducted an extensive recruitment process for the company’s CEO position. The selection process included several stages and involved more than 200 candidates. Anders Henricson will officially take over as CEO on November 4, 2024. Henricson brings extensive experience in successfully integrating physical and digital customer interactions from brands such as IKEA, Vagabond, and NilsonGroup. Reported Earnings • Jul 19
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: kr0.41 (up from kr0.23 loss in 2Q 2023). Revenue: kr87.8m (up 4.4% from 2Q 2023). Net income: kr8.79m (up kr13.4m from 2Q 2023). Profit margin: 10.0% (up from net loss in 2Q 2023). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 2.7%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Software industry in Sweden. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Jul 12
Vertiseit AB (publ) to Report Q1, 2025 Results on Apr 24, 2025 Vertiseit AB (publ) announced that they will report Q1, 2025 results on Apr 24, 2025 New Risk • May 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.6% 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 Large one-off items impacting financial results. Shareholders have been diluted in the past year (4.6% increase in shares outstanding). Significant insider selling over the past 3 months (kr26m sold). Market cap is less than US$100m (kr971.4m market cap, or US$91.4m). Recent Insider Transactions • May 27
Co-Founder recently sold kr8.0m worth of stock On the 21st of May, Johan Lind sold around 200k shares on-market at roughly kr40.00 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Johan has been a net seller over the last 12 months, reducing personal holdings by kr7.6m. Major Estimate Revision • Apr 24
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from kr329.1m to kr352.4m. EPS estimate increased from kr1.56 to kr1.78 per share. Net income forecast to grow 113% next year vs 16% growth forecast for IT industry in Sweden. Consensus price target up from kr42.00 to kr50.00. Share price rose 15% to kr39.70 over the past week. Reported Earnings • Apr 11
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: kr0.58 (up from kr0.45 in FY 2022). Revenue: kr347.6m (up 11% from FY 2022). Net income: kr11.9m (up 33% from FY 2022). Profit margin: 3.4% (up from 2.8% in FY 2022). Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the IT industry in Sweden. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: kr0.58 (vs kr0.45 in FY 2022) Full year 2023 results: EPS: kr0.58 (up from kr0.45 in FY 2022). Revenue: kr361.7m (up 15% from FY 2022). Net income: kr11.9m (up 33% from FY 2022). Profit margin: 3.3% (up from 2.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the IT industry in Sweden. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Feb 05
Vertiseit AB (publ) to Report Fiscal Year 2023 Results on Feb 15, 2024 Vertiseit AB (publ) announced that they will report fiscal year 2023 results at 7:30 AM, Central European Standard Time on Feb 15, 2024 Recent Insider Transactions • Nov 16
Independent Director recently bought kr211k worth of stock On the 9th of November, Johanna Schottenius bought around 10k shares on-market at roughly kr21.05 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.0m more in shares than they have sold in the last 12 months. New Risk • Nov 09
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 9.2% 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 Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (kr434.6m market cap, or US$40.1m). Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to kr21.20, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 13x in the IT industry in Sweden. Total returns to shareholders of 24% over the past three years. Announcement • Nov 01
Vertiseit AB (publ) to Report Q3, 2023 Results on Nov 09, 2023 Vertiseit AB (publ) announced that they will report Q3, 2023 results at 7:30 AM, Central European Standard Time on Nov 09, 2023 Major Estimate Revision • Sep 22
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 kr328.5m to kr304.0m. EPS estimate also fell from kr0.41 per share to kr0.36 per share. Net income forecast to grow 84% next year vs 9.3% growth forecast for IT industry in Sweden. Consensus price target of kr39.00 unchanged from last update. Share price fell 4.2% to kr18.05 over the past week. Announcement • Sep 21
Journeo plc acquired MultiQ Denmark A/S from Vertiseit AB (publ) for €2.5 million. Journeo plc acquired MultiQ Denmark A/S from Vertiseit AB (publ) for €2.5 million on September 20, 2023. The total consideration of €2.5 million was on a debt free cash free basis, being satisfied through the payment of €2.1 million on completion of the Acquisition, with two deferred payments of €0.2 million at 12 months and 24 months following completion. The consideration for the shares is €1.7 million after the repayment of an intercompany balance of €0.8 million. The acquired net assets are €1.1 million, with goodwill expected to be €0.6 million. Management expects MultiQ's revenue for the current year to 31 December 2023 will be approximately €3.3 million. Katy Birkin and Callum Davidson Cavendish Securities plc acted as financial advisor to Journeo plc.Journeo plc completed the acquisition of MultiQ Denmark A/S from Vertiseit AB (publ) on September 20, 2023. Recent Insider Transactions • Aug 18
President recently bought kr176k worth of stock On the 16th of August, Johan Lind bought around 9k shares on-market at roughly kr19.50 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Johan has been a buyer over the last 12 months, purchasing a net total of kr495k worth in shares. Major Estimate Revision • Jul 26
Consensus EPS estimates fall by 64% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from kr338.0m to kr328.5m. EPS estimate also fell from kr1.13 per share to kr0.41 per share. Net income forecast to grow 94% next year vs 11% growth forecast for IT industry in Sweden. Consensus price target down from kr46.00 to kr39.00. Share price fell 7.7% to kr21.60 over the past week. Recent Insider Transactions • Jul 21
President recently bought kr92k worth of stock On the 19th of July, Johan Lind bought around 4k shares on-market at roughly kr23.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr183k. Johan has been a buyer over the last 12 months, purchasing a net total of kr275k worth in shares. Price Target Changed • Jul 20
Price target decreased by 11% to kr39.00 Down from kr44.00, the current price target is provided by 1 analyst. New target price is 73% above last closing price of kr22.60. Stock is down 22% over the past year. The company is forecast to post earnings per share of kr0.41 for next year compared to kr0.45 last year. Reported Earnings • Jul 19
Second quarter 2023 earnings: Revenues miss analyst expectations Second quarter 2023 results: Revenue: kr85.6m (up 8.5% from 2Q 2022). Net loss: kr4.58m (loss narrowed 35% from 2Q 2022). Revenue missed analyst estimates by 1.9%. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the IT industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • Jul 18
Vertiseit AB (publ) to Report Q2, 2023 Results on Jul 19, 2023 Vertiseit AB (publ) announced that they will report Q2, 2023 results at 7:30 AM, Central European Standard Time on Jul 19, 2023 Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr26.80, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 13x in the IT industry in Sweden. Total returns to shareholders of 101% over the past three years. Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr30.20, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 15x in the IT industry in Sweden. Total returns to shareholders of 144% over the past three years. Recent Insider Transactions • May 19
Independent Director recently bought kr108k worth of stock On the 16th of May, Mikael Olsson bought around 4k shares on-market at roughly kr26.89 per share. This transaction amounted to 19% 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 kr151k more in shares than they have sold in the last 12 months. Major Estimate Revision • May 04
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from kr364.9m to kr338.0m. EPS estimate also fell from kr1.27 per share to kr1.13 per share. Net income forecast to grow 303% next year vs 12% growth forecast for IT industry in Sweden. Consensus price target of kr46.00 unchanged from last update. Share price rose 6.1% to kr31.10 over the past week. Reported Earnings • May 03
First quarter 2023 earnings: Revenues miss analyst expectations First quarter 2023 results: Revenue: kr81.1m (up 49% from 1Q 2022). Net income: kr1.35m (down 45% from 1Q 2022). Profit margin: 1.7% (down from 4.5% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 10%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the IT industry in Sweden. 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 36% per year, which means it is well ahead of earnings. Board Change • May 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. 4 experienced directors. 2 highly experienced directors. Independent Director Johanna Schottenius was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 19
Full year 2022 earnings released: EPS: kr0.44 (vs kr0.17 in FY 2021) Full year 2022 results: EPS: kr0.44 (up from kr0.17 in FY 2021). Revenue: kr316.0m (up 142% from FY 2021). Net income: kr8.91m (up 263% from FY 2021). Profit margin: 2.8% (up from 1.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the IT industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. 