High Growth Tech Stocks in Sweden To Watch This August 2024

The Swedish stock market has been buoyed by the recent rate cuts from the Riksbank, which have injected optimism and activity into various sectors, particularly small-cap stocks. As global markets react to central banks' moves towards easing monetary policies, it's an opportune moment to explore high-growth tech stocks in Sweden that are well-positioned to capitalize on this favorable economic environment.

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%	★★★★★★
Bonesupport Holding	33.76%	31.20%	★★★★★★
Xbrane Biopharma	58.82%	99.79%	★★★★★★
Skolon	31.76%	121.72%	★★★★★★
Yubico	22.52%	43.69%	★★★★★★
Sileon	40.13%	109.34%	★★★★★★
BioArctic	39.57%	102.80%	★★★★★★
Hemnet Group	20.13%	25.41%	★★★★★★
KebNi	34.75%	86.11%	★★★★★★

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

Here we highlight a subset of our preferred stocks from the screener.

Dynavox Group (OM:DYVOX)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Dynavox Group AB (publ) develops and sells assistive technology products for communication in Sweden and internationally, with a market cap of approximately SEK5.75 billion.

Operations: Dynavox Group AB (publ) generates revenue primarily from the sale of computer hardware, amounting to SEK1.80 billion. The company focuses on assistive technology products for communication across various markets.

Dynavox Group's recent earnings report highlighted a significant increase in revenue, reaching SEK 476 million for Q2 2024, up from SEK 381 million the previous year. Net income also saw substantial growth, doubling to SEK 36 million. The company's R&D expenses have been pivotal in driving innovation, contributing to its impressive earnings growth of 124.6% over the past year and forecasted annual profit growth of 36.6%. With revenue expected to grow at 13.6% annually, Dynavox is well-positioned within Sweden's tech sector despite a high level of debt.

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

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

Knowit (OM:KNOW)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Knowit AB (publ) is a consultancy company specializing in the development of digital solutions, with a market cap of SEK4.41 billion.

Operations: Knowit AB (publ) generates revenue primarily through its four segments: Solutions (SEK3.90 billion), Experience (SEK1.44 billion), Insight (SEK898.95 million), and Connectivity (SEK1.02 billion). The company focuses on developing digital solutions across these diverse areas, contributing to its market cap of SEK4.41 billion.

Knowit AB's recent earnings report revealed a revenue of SEK 1.68 billion for Q2 2024, down from SEK 1.76 billion the previous year, with net income dropping to SEK 3 million from SEK 19.5 million. Despite this, the company's R&D expenses have been instrumental in driving future growth, with earnings expected to increase by 32.3% annually over the next three years and revenue forecasted to grow at a modest rate of 3.7% per year. The firm's focus on software solutions and consulting services positions it well within Sweden's evolving tech landscape, especially as more companies shift towards SaaS models for recurring revenue streams.

• Click to explore a detailed breakdown of our findings in Knowit's health report.

• Understand Knowit's track record by examining our Past report.

Probi (OM:PROB)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Probi AB (publ) researches, manufactures, and sells probiotics for dietary supplements and food companies across North America, South America, Europe, Sweden, the Middle East, Africa, Asia Pacific, and internationally with a market cap of SEK3.08 billion.

Operations: Probi AB focuses on the research, manufacturing, and sale of probiotics specifically for dietary supplements and food companies globally. The company operates across multiple regions including North America, South America, Europe, the Middle East, Africa, and Asia Pacific.

Probi, a Swedish biotech firm, has reported a 24.46% increase in Q2 sales to SEK 178.88 million and turned around from a net loss of SEK 6.26 million to a net income of SEK 8.04 million year-over-year. Despite lower profit margins at 2.1%, the company's earnings are forecasted to grow by an impressive 50% annually, outpacing market expectations significantly. Their R&D expenses have been pivotal in driving innovation, especially with their proprietary strain Lactiplantibacillus plantarum HEAL9 showing promising anti-inflammatory effects in recent clinical studies on aging-related inflammation.

• Navigate through the intricacies of Probi with our comprehensive health report here.

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

Summing It All Up

• Reveal the 81 hidden gems among our Swedish High Growth Tech and AI Stocks screener with a single click here.
• Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up.
• Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor.

Interested In Other Possibilities?

• 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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com