New Risk • Jun 07
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr13m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (130% increase in shares outstanding). Market cap is less than US$10m (kr8.28m market cap, or US$796.3k). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). New Risk • Jun 09
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 13% 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 Less than 1 year of cash runway based on free cash flow trend (-kr18m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (115% increase in shares outstanding). Market cap is less than US$10m (kr23.2m market cap, or US$2.15m). Minor Risk Revenue is less than US$5m (kr46m revenue, or US$4.3m). Reported Earnings • May 27
First quarter 2023 earnings released: kr0.04 loss per share (vs kr0.085 loss in 1Q 2022) First quarter 2023 results: kr0.04 loss per share (improved from kr0.085 loss in 1Q 2022). Revenue: kr14.4m (up 116% from 1Q 2022). Net loss: kr3.78m (loss narrowed 3.3% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 20
Full year 2022 earnings released: kr0.29 loss per share (vs kr0.30 loss in FY 2021) Full year 2022 results: kr0.29 loss per share (improved from kr0.30 loss in FY 2021). Revenue: kr38.7k (down 100% from FY 2021). Net loss: kr14.9k (loss narrowed 100% from FY 2021). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 23
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr10.9m (up kr9.17m from 3Q 2021). Net loss: kr4.71m (loss widened 10% from 3Q 2021). Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Board Member Henrik Sund was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 23
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr8.08m (up kr7.76m from 2Q 2021). Net loss: kr3.22m (loss widened 17% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Reported Earnings • May 22
First quarter 2022 earnings released: kr0.08 loss per share (vs kr0.064 loss in 1Q 2021) First quarter 2022 results: kr0.08 loss per share (down from kr0.064 loss in 1Q 2021). Revenue: kr6.71m (up kr5.74m from 1Q 2021). Net loss: kr3.91m (loss widened 56% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Board Member Henrik Sund was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 20
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: kr0.28 loss per share (up from kr1.97 loss in FY 2020). Revenue: kr9.45m (up 73% from FY 2020). Net loss: kr13.0m (loss narrowed 3.3% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 21
Third quarter 2021 earnings released The company reported a mediocre third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: kr1.75m (up 68% from 3Q 2020). Net loss: kr4.27m (loss widened 69% from 3Q 2020). Recent Insider Transactions • Jul 20
CEO & Director recently bought kr1m worth of stock On the 14th of July, Leif Syrstad bought around 1m shares on-market at roughly kr0.95 per share. This was the largest purchase by an insider in the last 3 months. This was Leif's only on-market trade for the last 12 months. Reported Earnings • May 10
First quarter 2021 earnings released The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: kr975.0k (down 37% from 1Q 2020). Net loss: kr2.50m (loss widened 63% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 05
New 90-day low: kr0.96 The company is down 20% from its price of kr1.20 on 04 December 2020. The Swedish market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 3.0% over the same period. Reported Earnings • Feb 20
Full year 2020 earnings released: kr1.30 loss per share (vs kr1.25 loss in FY 2019) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: kr5.60m (up 94% from FY 2019). Net loss: kr8.87m (loss widened 11% from FY 2019). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 09
New 90-day high: kr1.85 The company is up 3.0% from its price of kr1.80 on 09 October 2020. The Swedish market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 4.0% over the same period. Announcement • Dec 19
Trov Renews Relationship With PSA NA Car Sharing Solutions Trov and Free2Move, the U.S.-based car-sharing service launched by PSA NA Car Sharing Solutions, announced the continuation of their partnership for a third consecutive year. In 2018 when PSA NA Car Sharing Solutions entered North America and Canada, Trov's Mobility Insurance Platform powered context-based insurance coverage for Free2Move, resulting in an immediate 30% cost reduction over traditional insurance offerings. Trov Mobility has since evolved to provide Risk Operations Technology in addition to insurance coverage to Free2Move. With Trov's expanded offering, Free2Move benefits from a cost-effective commercial insurance program and powerful new software that turns over 70 million data points -- including vehicle, driver and road data -- into insights that allow them to efficiently monitor, manage, and mitigate risk in real time. Reported Earnings • Nov 26
Third quarter 2020 earnings released: kr0.39 loss per share The company reported a soft third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: kr1.05m (up 5.7% from 3Q 2019). Net loss: kr2.53m (loss widened 120% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 18
New 90-day low: kr1.11 The company is down 37% from its price of kr1.77 on 20 August 2020. The Swedish market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 3.0% over the same period. Is New 90 Day High Low • Oct 24
New 90-day low: kr1.47 The company is down 36% from its price of kr2.28 on 24 July 2020. The Swedish market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 8.0% over the same period. Is New 90 Day High Low • Sep 29
New 90-day low: kr1.51 The company is down 18% from its price of kr1.85 on 01 July 2020. The Swedish market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 13% over the same period. 
