New Risk • Apr 23
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 Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risk Market cap is less than US$100m (kr126.1m market cap, or US$13.6m). Announcement • Apr 22
Nordic LEVEL Group AB (publ.), Annual General Meeting, May 20, 2026 Nordic LEVEL Group AB (publ.), Annual General Meeting, May 20, 2026, at 16:00 W. Europe Standard Time. Location: nordic level group ab, vasagatan 12 c, 172 67 sundbyberg, sundbyberg Sweden Reported Earnings • Feb 25
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: kr0.015 loss per share (improved from kr0.032 loss in FY 2024). Revenue: kr395.0m (up 6.5% from FY 2024). Net loss: kr3.08m (loss narrowed 49% from FY 2024). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 100%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. New Risk • Feb 19
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 8.7% 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: Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (kr134.5m market cap, or US$14.8m). Breakeven Date Change • Nov 13
Forecast breakeven date pushed back to 2026 The analyst covering Nordic LEVEL Group AB (publ.) previously expected the company to break even in 2025. New forecast suggests losses will reduce by 67% to 2025. The company is expected to make a profit of kr15.0m in 2026. Average annual earnings growth of 105% is required to achieve expected profit on schedule. Buy Or Sell Opportunity • Oct 24
Now 21% overvalued Over the last 90 days, the stock has fallen 11% to kr0.62. The fair value is estimated to be kr0.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has grown by 91%. Recent Insider Transactions • Sep 18
Chairman recently bought kr86k worth of stock On the 12th of September, Samir Taha bought around 150k shares on-market at roughly kr0.58 per share. This transaction amounted to 3.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Samir has been a buyer over the last 12 months, purchasing a net total of kr106k worth in shares. Board Change • Jun 29
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Lars Nilsson was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jun 25
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 9.5% 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 Market cap is less than US$10m (kr83.2m market cap, or US$8.74m). Minor Risk Share price has been volatile over the past 3 months (9.5% average weekly change). New Risk • Jun 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr94.6m (US$9.88m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. New Risk • May 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 110% 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. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (110% increase in shares outstanding). Minor Risk Market cap is less than US$100m (kr200.9m market cap, or US$21.1m). Price Target Changed • Feb 26
Price target decreased by 20% to kr1.29 Down from kr1.60, the current price target is an average from 2 analysts. New target price is 93% above last closing price of kr0.67. Stock is down 2.2% over the past year. The company is forecast to post earnings per share of kr0.04 next year compared to a net loss per share of kr0.014 last year. Breakeven Date Change • Jan 01
Forecast breakeven date pushed back to 2025 The analyst covering Nordic LEVEL Group AB (publ.) previously expected the company to break even in 2024. New forecast suggests the company will make a profit of kr11.0m in 2025. Average annual earnings growth of 90% is required to achieve expected profit on schedule. Announcement • Nov 20
Nordic LEVEL Group AB (publ.), Annual General Meeting, May 21, 2025 Nordic LEVEL Group AB (publ.), Annual General Meeting, May 21, 2025. Reported Earnings • Sep 02
Second quarter 2024 earnings released: kr0.034 loss per share (vs kr0.038 profit in 2Q 2023) Second quarter 2024 results: kr0.034 loss per share (down from kr0.038 profit in 2Q 2023). Revenue: kr105.5m (down 20% from 2Q 2023). Net loss: kr6.29m (down 240% from profit in 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr1.02, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 14x in the Electronic industry in Sweden. Total loss to shareholders of 64% over the past three years. Recent Insider Transactions • Jul 22
Director recently sold kr50k worth of stock On the 18th of July, Thomas Lundin sold around 57k shares on-market at roughly kr0.88 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr1.8m more than they sold in the last 12 months. Recent Insider Transactions • Jul 10
Independent Director recently bought kr89k worth of stock On the 8th of July, Peter Borsos bought around 100k shares on-market at roughly kr0.89 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr183k. Insiders have collectively bought kr1.9m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 13
Independent Director recently bought kr183k worth of stock On the 7th of June, Peter Borsos bought around 200k shares on-market at roughly kr0.91 per share. This transaction amounted to 65% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr198k. Insiders have collectively bought kr1.8m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Apr 07
Independent Chairman of the Board recently bought kr198k worth of stock On the 4th of April, Samir Taha bought around 225k shares on-market at roughly kr0.88 per share. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr228k. Samir has been a buyer over the last 12 months, purchasing a net total of kr1.8m worth in shares. Recent Insider Transactions • Mar 21
Chief Executive Officer recently bought kr121k worth of stock On the 18th of March, Jorgen Lundgren bought around 150k shares on-market at roughly kr0.80 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr399k. Jorgen has been a buyer over the last 12 months, purchasing a net total of kr471k worth in shares. Reported Earnings • Feb 29
Full year 2023 earnings released: kr0.011 loss per share (vs kr0.92 loss in FY 2022) Full year 2023 results: kr0.011 loss per share (improved from kr0.92 loss in FY 2022). Revenue: kr366.9m (down 11% from FY 2022). Net loss: kr2.07m (loss narrowed 97% from FY 2022). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 27
Director recently sold kr364k worth of stock On the 23rd of February, Thomas Lundin sold around 450k shares on-market at roughly kr0.81 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr999k more than they sold in the last 12 months. Recent Insider Transactions • Jan 24
Chairman of the Board recently bought kr97k worth of stock On the 18th of January, Samir Taha bought around 150k shares on-market at roughly kr0.65 per share. This transaction amounted to 3.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr399k. Samir has been a buyer over the last 12 months, purchasing a net total of kr1.2m worth in shares. Recent Insider Transactions • Jan 12
Chairman of the Board recently bought kr91k worth of stock On the 5th of January, Samir Taha bought around 150k shares on-market at roughly kr0.61 per share. This transaction amounted to 4.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr399k. Samir has been a buyer over the last 12 months, purchasing a net total of kr1.2m worth in shares. Recent Insider Transactions • Jan 02
Chairman of the Board recently bought kr399k worth of stock On the 29th of December, Samir Taha bought around 650k shares on-market at roughly kr0.61 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Samir has been a buyer over the last 12 months, purchasing a net total of kr1.1m worth in shares. New Risk • Dec 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr63m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-kr63m free cash flow). Earnings have declined by 33% per year over the past 5 years. Shareholders have been substantially diluted in the past year (98% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (10.0% average weekly change). Market cap is less than US$100m (kr118.6m market cap, or US$11.9m). Recent Insider Transactions • Dec 13
Chief Executive Officer recently bought kr129k worth of stock On the 8th of December, Jorgen Lundgren bought around 195k shares on-market at roughly kr0.66 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jorgen has been a buyer over the last 12 months, purchasing a net total of kr246k worth in shares. Reported Earnings • Nov 27
Third quarter 2023 earnings released: kr0.067 loss per share (vs kr0.075 loss in 3Q 2022) Third quarter 2023 results: kr0.067 loss per share. Revenue: kr89.4m (down 21% from 3Q 2022). Net loss: kr10.2m (loss widened 46% from 3Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Electronic industry in Sweden. Recent Insider Transactions • Nov 26
Chief Executive Officer recently bought kr117k worth of stock On the 22nd of November, Jorgen Lundgren bought around 238k shares on-market at roughly kr0.49 per share. This transaction amounted to 39% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr329k. This was Jorgen's only on-market trade for the last 12 months. New Risk • Oct 04
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 12% 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Market cap is less than US$10m (kr91.6m market cap, or US$8.28m). Minor Risk Shareholders have been diluted in the past year (27% increase in shares outstanding). Recent Insider Transactions • Sep 07
Chairman of the Board recently bought kr329k worth of stock On the 1st of September, Samir Taha bought around 370k shares on-market at roughly kr0.89 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Samir has been a buyer over the last 12 months, purchasing a net total of kr437k worth in shares. Price Target Changed • Apr 08
Price target decreased by 11% to kr3.10 Down from kr3.50, the current price target is provided by 1 analyst. New target price is 76% above last closing price of kr1.77. Stock is down 25% over the past year. The company is forecast to post a net loss per share of kr0.19 next year compared to a net loss per share of kr1.02 last year. Board Change • Nov 16
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director Daniel Skalin is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Jul 14
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director Daniel Skalin is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Breakeven Date Change • Jun 10
Forecast breakeven date pushed back to 2023 The analyst covering Nordic LEVEL Group AB (publ.) previously expected the company to break even in 2022. New forecast suggests the company will make a profit of kr10.0m in 2023. Average annual earnings growth of 70% is required to achieve expected profit on schedule. Breakeven Date Change • Jun 09
Forecast to breakeven in 2022 The analyst covering Nordic LEVEL Group AB (publ.) expects the company to break even for the first time. New forecast suggests the company will make a profit of kr5.00m in 2022. Average annual earnings growth of 63% is required to achieve expected profit on schedule. Price Target Changed • Apr 27
Price target decreased to kr3.30 Down from kr3.60, the current price target is provided by 1 analyst. New target price is 44% above last closing price of kr2.29. Stock is down 43% over the past year. The company is forecast to post a net loss per share of kr0.51 next year compared to a net loss per share of kr1.02 last year. Recent Insider Transactions • Dec 28
Chief Financial Officer recently sold kr92k worth of stock On the 23rd of December, Mikael Behm sold around 40k shares on-market at roughly kr2.30 per share. This was the largest sale by an insider in the last 3 months. Mikael has been a seller over the last 12 months, reducing personal holdings by kr496k. Reported Earnings • Nov 10
Third quarter 2021 earnings released The company reported a decent third quarter result with improved revenues, although losses increased and control over costs was weaker. Third quarter 2021 results: Revenue: kr66.8m (up 157% from 3Q 2020). Net loss: kr8.72m (loss widened 374% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 124% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Aug 27
Chief Financial Officer recently sold kr404k worth of stock On the 23rd of August, Mikael Behm sold around 131k shares on-market at roughly kr3.09 per share. This was the largest sale by an insider in the last 3 months. This was Mikael's only on-market trade for the last 12 months. Reported Earnings • Aug 24
Second quarter 2021 earnings released The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: kr59.4m (up 175% from 2Q 2020). Net loss: kr1.27m (loss narrowed 86% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 127% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Reported Earnings • May 11
First quarter 2021 earnings released The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: kr29.1m (up 22% from 1Q 2020). Net loss: kr241.0k (loss narrowed 94% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has fallen by 51% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jan 27
Deputy Chairman recently sold kr863k worth of stock On the 21st of January, Samir Taha sold around 294k shares on-market at roughly kr2.93 per share. This was the largest sale by an insider in the last 3 months. This was Samir's only on-market trade for the last 12 months. Is New 90 Day High Low • Jan 05
New 90-day low: kr1.50 The company is down 25% from its price of kr2.00 on 07 October 2020. The Swedish market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 14% over the same period. Is New 90 Day High Low • Dec 10
New 90-day low: kr1.72 The company is down 28% from its price of kr2.37 on 10 September 2020. The Swedish market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 9.0% over the same period. Reported Earnings • Nov 22
Third quarter 2020 earnings released: kr0.12 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: kr26.1m (up 43% from 3Q 2019). Net loss: kr1.84m (loss narrowed 60% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 67% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 13
New 90-day low: kr1.82 The company is down 26% from its price of kr2.45 on 14 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 Electronic industry, which is up 18% over the same period. Is New 90 Day High Low • Oct 14
New 90-day low: kr1.97 The company is down 21% from its price of kr2.50 on 16 July 2020. The Swedish market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 17% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: kr2.06 The company is down 22% from its price of kr2.65 on 26 June 2020. The Swedish market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 22% over the same period.