Buy Or Sell Opportunity • May 19
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.8% to kr19.75. The fair value is estimated to be kr26.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 02
First quarter 2026 earnings released: EPS: kr0.12 (vs kr0.094 in 1Q 2025) First quarter 2026 results: EPS: kr0.12 (up from kr0.094 in 1Q 2025). Revenue: kr61.1m (down 56% from 1Q 2025). Net income: kr6.54m (up 28% from 1Q 2025). Profit margin: 11% (up from 3.6% in 1Q 2025). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Tillkännagivande • Apr 30
Formpipe Software AB (Publ) Approves No Dividend for the Financial Year 2025 Formpipe Software AB (publ) at its Annual General Meeting held on April 29, 2026, approved that the results for the financial year shall be carried forward and that no dividend shall be paid for the financial year 2025. Tillkännagivande • Mar 30
Formpipe Software AB (publ), Annual General Meeting, Apr 29, 2026 Formpipe Software AB (publ), Annual General Meeting, Apr 29, 2026, at 17:00 W. Europe Standard Time. Location: companys premises at sveavagen 168, stockholm Sweden Tillkännagivande • Mar 17
Lasernet Group Announces New Brand Identity Lasernet Group (previously Formpipe Software AB) announced the launch of its new brand identity, marking a new chapter for the company as it moves forward under the Lasernet Group name. The new branding places the document at the centre of the company's visual identity, reflecting the central role documents play in every business. The redesigned logo highlights the document as a central element, symbolising Lasernet's mission to help organizations capture, organise, and deliver information to their customers. Like the platform, the broader brand identity is intentionally flexible, allowing the company to adapt visual elements such as colours, orientations, and layouts depending on how information needs to be presented. The brand also introduces Laser Red as its signature colour, complemented by a range of secondary colours designed to add contrast, dimension, and versatility across digital and print applications. While the visual identity is new, Lasernet's core mission remains unchanged: helping organizations manage documents efficiently, reliably, and at scale. Customers across industries rely on the Lasernet platform to build and optimise global document programs, often maintaining long-term partnerships as their document needs grow. More information about the new Lasernet brand can be found here: text-decoration:underlinehttps://www.lasernetgroup.com/about-us/brand-identity. Per previous announcements, the legal entity will continue as 'Formpipe Software AB' until after the April AGM meeting where it is intended to formally change the legal name to 'Lasernet Group AB'. This is a translation of the original Swedish version. In the event of any discrepancies between the two versions, the original Swedish version shall take precedence. Tillkännagivande • Mar 05
Formpipe Software AB (publ) (OM:FPIP) commences an Equity Buyback Plan, under the authorization approved on April 29, 2025. Formpipe Software AB (publ) (OM:FPIP) commences share repurchases on February 23, 2026, under the program mandated by the shareholders in the Annual General Meeting held on April 29, 2025. As per the mandate, the company is authorized it own shares representing 10% of its issued share capital. The minimum and maximum amounts that can be paid per share shall be NOK 25 and NOK 110, respectively. The purpose of the authorization is to enable the Board to adjust and improve the capital structure of the Company in order to create increased shareholder value and to dispose of shares in connection with financing of any company and business acquisitions by paying all or part of the purchase price with the Company's treasury shares. The payment shall be made in cash. The authorization is valid until the next AGM, on one or more occasions, to resolve to acquire and/or dispose the Company's shares on the following principal conditions. Reported Earnings • Feb 21
Full year 2025 earnings released: kr1.15 loss per share (vs kr0.32 profit in FY 2024) Full year 2025 results: kr1.15 loss per share (down from kr0.32 profit in FY 2024). Revenue: kr243.3m (down 54% from FY 2024). Net loss: kr62.6m (down 466% from profit in FY 2024). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Software industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Declared Dividend • Oct 07
First half dividend of kr0.25 announced Dividend of kr0.25 is the same as last year. Ex-date: 31st October 2025 Payment date: 6th November 2025 Dividend yield will be 1.8%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is not covered by earnings (216% earnings payout ratio). However, it is covered by cash flows (56% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 140% to bring the payout ratio under control. EPS is expected to grow by 243% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: kr0.009 (vs kr0.15 in 2Q 2024) Second quarter 2025 results: EPS: kr0.009 (down from kr0.15 in 2Q 2024). Revenue: kr140.5m (up 5.8% from 2Q 2024). Net income: kr490.0k (down 94% from 2Q 2024). Profit margin: 0.3% (down from 6.3% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Software industry in the United Kingdom. Tillkännagivande • Aug 19
Formpipe Software AB (publ) to Report Nine Months, 2025 Results on Nov 19, 2025 Formpipe Software AB (publ) announced that they will report nine months, 2025 results on Nov 19, 2025 Declared Dividend • Aug 18
Dividend of kr0.25 announced Dividend of kr0.25 is the same as last year. Ex-date: 31st October 2025 Payment date: 6th November 2025 Dividend yield will be 1.7%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (133% earnings payout ratio). However, it is covered by cash flows (56% cash payout ratio). The dividend has increased by an average of 20% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 48% to bring the payout ratio under control. EPS is expected to grow by 155% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Tillkännagivande • Aug 18
STG agreed to acquire Public Sector business area of Formpipe Software AB from Formpipe Software AB (publ) (OM:FPIP) for SEK 850 million. STG agreed to acquire Public Sector business area of Formpipe Software AB from Formpipe Software AB (publ) (OM:FPIP) for SEK 850 million on August 18, 2025. As part of consideration, the purchase price for Formpipe Public is up to SEK 850 million on a cash free and debt free basis. At closing, SEK 775 million will be paid in cash (subject to net debt and working capital adjustments) and SEK 50 million will be paid through the issuance of a loan note payable in 2029 with a compounding interest of 4.25% per annum and subject to certain potential deductions based on certain metrics related to the separation process. The Purchaser has also undertaken to pay an additional purchase price of SEK 25 million if STG achieves a certain return on its investment. The Transaction will be affected through a sale of Formpipe’s newly established subsidiary Formpipe Sverige AB, to which Formpipe Public, including the Danish subsidiary Formpipe Software A/S and the Formpipe brand, will be transferred prior to completion of the Transaction. Following the completion of the Transaction, the Board intends to propose a distribution of a substantial portion of the proceeds from the Transaction to the Company’s shareholders. The Board will evaluate the most efficient and practically feasible way for such distribution. The Board intends to retain a part of the proceeds from the Transaction, to be reinvested in Lasernet. The Company will continue operating as a listed company. Following completion of the Transaction, the Company will continue to use the Formpipe brand during an interim period, after which the Company will be rebranded.
For the period ending December 31, 2024, Public Sector business area of Formpipe Software AB reported total revenue of SEK 306 million and EBITDA of SEK 46 million.
The Transaction will be completed upon the receipt of necessary clearances or approvals from relevant authorities under the foreign direct investment regimes in Sweden and Denmark, approval by the Company’s shareholders at the EGM, 90% of the contracted revenue stemming from Formpipe Public’s customers in Sweden agree to be transferred to Formpipe Sverige AB, and the completion of necessary separation steps. The Board will convene an EGM to be held on or around 17 September 2025 to obtain shareholder approval, through simple majority, as a condition to completion of the Transaction. A notice to the EGM, including instructions for attending the EGM, will be issued through a separate press release in due time before the EGM. Closing is expected to take place in Q4 2025, subject to the timing of regulatory clearances or approvals.
ABG Sundal Collier AB acted as financial advisor for Formpipe Software AB. Cirio Advokatbyrå Ab acted as legal advisor for Formpipe Software AB. Daniel Gendron, Viktor Okasmaa and Timothy Sawyer of Willkie Farr & Gallagher LLP advised STG on the financing aspects. Declared Dividend • Jul 15
Dividend of kr0.25 announced Dividend of kr0.25 is the same as last year. Ex-date: 31st October 2025 Payment date: 6th November 2025 Dividend yield will be 1.8%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (133% earnings payout ratio). However, it is covered by cash flows (56% cash payout ratio). The dividend has increased by an average of 20% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 48% to bring the payout ratio under control. EPS is expected to grow by 155% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Declared Dividend • May 09
Dividend of kr0.25 announced Shareholders will receive a dividend of kr0.25. Ex-date: 31st October 2025 Payment date: 6th November 2025 Dividend yield will be 1.9%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is not covered by earnings (133% earnings payout ratio). However, it is covered by cash flows (56% cash payout ratio). The dividend has increased by an average of 20% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 48% to bring the payout ratio under control. EPS is expected to grow by 155% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Tillkännagivande • Mar 25
Formpipe Software AB (publ), Annual General Meeting, Apr 29, 2025 Formpipe Software AB (publ), Annual General Meeting, Apr 29, 2025, at 17:00 W. Europe Standard Time. Location: at the companys premises, at sveavagen 168, stockholm Sweden Tillkännagivande • Mar 24
Formpipe Software AB (Publ) Announces Peter Gille Declines Re-Election for the Board of Directors Formpipe Software AB (publ) announced that Peter Gille declined re-election for the board of directors, to the upcoming AGM to be held on 29 April 2025. Tillkännagivande • Feb 08
Lina Elo Leaves as Chief People Officer of Formpipe Software AB (publ) At the End of the First Quarter of 2025 Formpipe Software AB (publ) announced CPO (Chief People Officer) Lina Elo has decided to leave her position at the company at the end of the first quarter of 2025. Lina has worked at the company since its inception 2004 years and has been part of the executive management team for most of that time. A recruitment process is underway to appoint a successor. Tillkännagivande • Nov 08
Formpipe Software AB (publ) to Report Q4, 2024 Results on Jan 14, 2025 Formpipe Software AB (publ) announced that they will report Q4, 2024 results at 8:15 AM, Central European Standard Time on Jan 14, 2025 Tillkännagivande • Oct 10
Formpipe Software AB (publ) Announces Nomination Committee Formpipe Software AB (publ) In accordance with the decision at Formpipe Software's Annual General Meeting on April 25, 2024, the Chairman, Annikki Schaeferdiek, has called together the Nomination Committee. After consultation with the company's, as of September 30, 2024, largest shareholder in terms of votes, the Nomination Committee consists of the following members: Emil Hjalmarsson become Chairman of the Nomination Committee representing Aktiebolag Grenspecialisten, Joshua Braden, representing Mission Trail, Petter Mattsson, representing Alcur,Mathias Nimlin, representing Martin Bjäringer, Annikki Schaeferdiek, Chairman Formpipe Software AB. The Nomination Committee will prepare proposals for the 2025 Annual General Meeting regarding, among other things, the Chairman of the Annual General Meeting, Board members, Chairman of the Board, the Board's remuneration, auditors, auditors' fees, the composition of the Nomination Committee and tasks for the 2026 Annual General Meeting. Tillkännagivande • Oct 07
Formpipe Appoints Sophie Reinius as Chief Financial Office, Effective October 21 Formpipe appoints Sophie Reinius as CFO. Sophie Reinius strengthens Formpipe's Group Management as new CFO as of October 21. Sophie Reinius brings with her over 20 years of experience from large international technology companies, where she has held senior positions. Most recently, she comes from the role as CFO at Arelion, before that she was CFO at Coromatic and Net4Mobility. She has also held roles as controller at Microsoft in Sweden, controller for the Nordic region and operations manager for Sweden within Philips Home Healthcare and before that at Schneider Electric as group controller for the Nordic and Baltic countries. In addition, she is on the board of Scandinavian Data Centers. Sophie Reinius holds a bachelor's degree in finance and a law degree from Stockholm University. Sophie Reinius will start on October 21 and will walk in parallel with former CFO Joakim Alfredson for the handover. She reports to Formpipe's President and CEO Magnus Svenningson. Tillkännagivande • Jul 02
Formpipe Software AB (publ) Announces Resignation of Joakim Alfredson as Chief Financial Officer Formpipe Software AB (publ) announced chief financial officer Joakim Alfredson will leave his position and the company at the end of the first quarter 2025. Mr. Alfredson has been with the company for 17 years and has been a member of the Group Management. Tillkännagivande • Apr 27
Formpipe Software AB (publ) Approves Dividend for the Financial Year 2023 Formpipe Software AB (publ) at its Annual General Meeting 2024, resolved, in accordance with the Board of Directors' proposal, that SEK 0.50 per share shall be paid in dividend to the shareholders for the financial year 2023, divided over two payment occasions, and that the record date for the first payment of SEK 0.25 shall be 29 April 2024, and the record day for the second payment of SEK 0.25 shall be 7 November 2024. Payment of the dividends is expected to be distributed by Euroclear Sweden AB three banking days after respective record date. Tillkännagivande • Mar 22
Formpipe Software AB (Publ) Proposes Dividend for the Financial Year 2023 Formpipe Software AB (publ)'s Board proposed that the AGM resolves that SEK 0.50 per share is to be paid in dividend to the shareholders for the financial year 2023, divided over two payment occasions. The record date for the first payment of SEK 0.25 per share is proposed to be 29 April 2024, and the record day for the second payment of SEK 0.25 per share is proposed to be 7 November 2024. If the AGM resolves in accordance with the proposal, the dividend is expected to be distributed by Euroclear Sweden AB three banking days after respective record date. New Risk • Jan 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 Risk Shares are highly illiquid. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Profit margins are more than 30% lower than last year (3.5% net profit margin). Reported Earnings • Jul 15
Second quarter 2023 earnings released: EPS: kr0.085 (vs kr0.015 loss in 2Q 2022) Second quarter 2023 results: EPS: kr0.085 (up from kr0.015 loss in 2Q 2022). Revenue: kr137.5m (up 15% from 2Q 2022). Net income: kr4.62m (up kr5.43m from 2Q 2022). Profit margin: 3.4% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Software industry in the United Kingdom. Recent Insider Transactions • Jun 01
Director recently bought kr88k worth of stock On the 26th of May, Johan Stakeberg bought around 4k shares on-market at roughly kr24.70 per share. This transaction increased Johan's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr290k more in shares than they have sold in the last 12 months. Tillkännagivande • May 25
Formpipe Appoints Magnus Svenningson as New CEO, Effective August 1, 2023 Magnus Svenningson takes office as the new CEO of Formpipe on August 1, 2023. Magnus most recently comes from the role of CEO of Primekey and has a broad experience from the software industry, both in private and public sector. Magnus has been CEO of the cyber security company Primekey Solutions AB from 2016 until it was sold to Insight Partners' portfolio company Keyfactor in 2022. After that he was Chief Strategy Officer for Keyfactor and worked on integrating the two global organizations. He has been a board member of the IT security company Verisec International since 2022. Prior to that, he has held leading roles in technology-intensive companies, including as CEO of Speed Identity AB and sales roles within Ericsson and Hewlett Packard. Magnus Svenningson takes over as CEO of Formpipe on August 1, 2023. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: kr0.09 (vs kr0.021 in 1Q 2022) First quarter 2023 results: EPS: kr0.09 (up from kr0.021 in 1Q 2022). Revenue: kr127.6m (up 6.1% from 1Q 2022). Net income: kr4.86m (up 331% from 1Q 2022). Profit margin: 3.8% (up from 0.9% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Software industry in the United Kingdom. Reported Earnings • Feb 17
Full year 2022 earnings released: EPS: kr0.16 (vs kr0.94 in FY 2021) Full year 2022 results: EPS: kr0.16 (down from kr0.94 in FY 2021). Revenue: kr485.1m (up 2.5% from FY 2021). Net income: kr8.76m (down 83% from FY 2021). Profit margin: 1.8% (down from 11% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Software industry in the United Kingdom. Tillkännagivande • Feb 03
Formpipe Software AB (publ) Announces Board Changes Formpipe Software AB (publ) announced effective February 2, 2023, Emil Hjalmarsson will replace Erik Ivarsson as representative for Grenspecialisten in the company's nomination committee. The Nomination Committee now consists of the following members: Marika Svärdström remain Chairman of the Nomination Committee; Emil Hjalmarsson representing Grenspecialisten AB; Celia Grip representing Swedbank Robur Microcap; Annikki Schaeferdiek, Chairman Formpipe Software AB. Tillkännagivande • Jan 26
Formpipe Software AB (Publ) Announces Resignation of Christian Sundin as CEO Formpipe Software AB (publ) announced that Christian Sundin will leave as CEO of Formpipe Software AB (publ). The board has started a recruitment process and until a new CEO is appointed, Christian Sundin will continue in the role to ensure a smooth succession. Upcoming Dividend • Apr 21
Upcoming dividend of kr0.70 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 04 May 2022. Payout ratio is a comfortable 74% and the cash payout ratio is 88%. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (4.6%). In line with average of industry peers (2.0%). Reported Earnings • Apr 06
Full year 2021 earnings released: EPS: kr0.94 (vs kr0.78 in FY 2020) Full year 2021 results: EPS: kr0.94 (up from kr0.78 in FY 2020). Revenue: kr473.2m (up 17% from FY 2020). Net income: kr50.4m (up 22% from FY 2020). Profit margin: 11% (in line with FY 2020). Over the next year, revenue is forecast to grow 7.1%, compared to a 29% growth forecast for the industry in the United Kingdom. Reported Earnings • Feb 17
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: kr0.94 (up from kr0.78 in FY 2020). Revenue: kr473.2m (up 17% from FY 2020). Net income: kr50.4m (up 22% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue exceeded analyst estimates by 1.9%. Over the next year, revenue is forecast to stay flat compared to a 29% growth forecast for the industry in the United Kingdom.