Tillkännagivande • Mar 20
Linkfire A/S, Annual General Meeting, May 30, 2024 Linkfire A/S, Annual General Meeting, May 30, 2024. New Risk • Jan 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr103.5m (US$9.94m) 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. 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 (-kr.32m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Market cap is less than US$10m (kr103.5m market cap, or US$9.94m). Tillkännagivande • Dec 22
Linkfire A/S Announces CEO Changes, Effective 1 January 2024 The Board of Directors of Linkfire A/S announced that co-founder and current Chief Commercial Officer, Jeppe Faurfelt, will assume the executive management of the Company as co-founder and CEO, Lars Ettrup and CFO, Tobias Demuth are stepping down and departing the operations of the Company, Lars Ettrup will remain in a strategic advisory role. Chairman of the Board, Jesper Møller and Board Member, Ole Larsen, will assist the Company's strong operational finance team. The change of CEO will be effective 1 January 2024. Jeppe Faurfelt has played a pivotal role in overseeing commercial strategy, operations, and shaping the client-facing organization to drive sustained industry relationships. His leadership has been instrumental in driving overall business growth with a global perspective, drawing upon his extensive experience in the U.S. market. Based in New York from 2016 to 2021, Faurfelt has successfully contributed to the expansion and success of the company. The Board of Directors is confident in Jeppe Faurfelt's ability to guide the company into its next phase after the delisting. Reported Earnings • Nov 24
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: kr.0.04 loss per share (improved from kr.0.55 loss in 3Q 2022). Revenue: kr.13.3m (down 9.0% from 3Q 2022). Net loss: kr.4.05m (loss narrowed 88% from 3Q 2022). Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 72%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Entertainment industry in Sweden. Tillkännagivande • Nov 24
Linkfire A/S Revises Earnings Guidance for the Year 2023 Linkfire A/S revised earnings guidance for the year 2023. For the financial year 2023, the company expects its revenue to be in the range of DKK 50 million to DKK 55 million (previously DKK 60 million to DKK 70 million), corresponding to a yearly growth of negative 5% to positive 5% (previously 14% to 33%). New Risk • Oct 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr110.1m (US$9.84m) 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. 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 (-kr.26m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (93% increase in shares outstanding). Market cap is less than US$10m (kr110.1m market cap, or US$9.84m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (kr.870k net loss in 2 years). Reported Earnings • Aug 27
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: kr.0.06 loss per share (improved from kr.0.30 loss in 2Q 2022). Revenue: kr.12.5m (up 25% from 2Q 2022). Net loss: kr.6.66m (loss narrowed 63% from 2Q 2022). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 1.6%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Entertainment industry in Sweden. Tillkännagivande • Aug 09
Linkfire A/S Reaffirms Earnings Guidance for the Year 2023 Linkfire A/S reaffirmed earnings guidance for the year 2023. Linkfire maintains its guidance and commitment to reach profitability this year. Tillkännagivande • Jul 18
Linkfire Receives Observation Status (386/23) Linkfire A/S (the “Company”) issued a press release with information that the Company intends to apply for delisting of its shares from Nasdaq First North Premier Growth Market. The rules of Nasdaq First North Growth Market state that an issuer can be given observation status if the issuer has disclosed its intention to delist its financial instruments from Nasdaq First North Premier Growth Market. Major Estimate Revision • Jun 09
Consensus EPS estimates fall by 211% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from kr.64.5m to kr.63.0m. Losses expected to increase from kr.0.045 per share to kr.0.14. Entertainment industry in Sweden expected to see average net income growth of 27% next year. Consensus price target up from kr1.68 to kr2.20. Share price fell 12% to kr2.01 over the past week. Reported Earnings • May 26
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: kr.0.05 loss per share (improved from kr.0.26 loss in 1Q 2022). Revenue: kr.13.1m (up 17% from 1Q 2022). Net loss: kr.6.08m (loss narrowed 60% from 1Q 2022). Revenue missed analyst estimates by 9.6%. Earnings per share (EPS) also missed analyst estimates by 190%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Entertainment industry in Sweden. Tillkännagivande • May 25
Linkfire A/S Provides Earnings Guidance for the Financial Year 2023 Linkfire A/S provided earnings guidance For the financial year 2023. For the year, company expects revenue in the range between DKK 60 million -70 million, corresponding to a yearly growth of 14-33 per cent. Board Change • Apr 14
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Director Thomas Knudsen is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 10
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: kr.0.96 loss per share (further deteriorated from kr.0.77 loss in FY 2021). Revenue: kr.52.6m (up 56% from FY 2021). Net loss: kr.70.1m (loss widened 97% from FY 2021). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Entertainment industry in Sweden. Reported Earnings • Feb 24
Full year 2022 earnings released: kr.1.20 loss per share (vs kr.0.77 loss in FY 2021) Full year 2022 results: kr.1.20 loss per share (further deteriorated from kr.0.77 loss in FY 2021). Revenue: kr.52.6m (up 56% from FY 2021). Net loss: kr.70.0m (loss widened 97% from FY 2021). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Entertainment industry in Sweden. Board Change • Jan 11
High number of new directors Independent Chairman of the Board Jesper Moller was the last director to join the board, commencing their role in 2021. Breakeven Date Change • Jan 01
Forecast to breakeven in 2025 The analyst covering Linkfire expects the company to break even for the first time. New forecast suggests the company will make a profit of kr.5.57m in 2025. Average annual earnings growth of 79% is required to achieve expected profit on schedule. Major Estimate Revision • Dec 23
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from kr.50.1m to kr.51.5m. Forecast EPS reduced from -kr.0.48 to -kr.0.99 per share. Entertainment industry in Sweden expected to see average net income growth of 79% next year. Consensus price target up from kr1.33 to kr1.48. Share price rose 25% to kr1.25 over the past week. Reported Earnings • Nov 25
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: kr.0.55 loss per share (further deteriorated from kr.0.15 loss in 3Q 2021). Revenue: kr.14.6m (up 65% from 3Q 2021). Net loss: kr.32.6m (loss widened 287% from 3Q 2021). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in Sweden. Major Estimate Revision • Nov 02
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 losses forecast to reduce from -kr.0.85 to -kr.0.48 per share. Revenue forecast steady at kr.50.0m. Entertainment industry in Sweden expected to see average net income growth of 57% next year. Consensus price target of kr1.30 unchanged from last update. Share price fell 7.1% to kr0.70 over the past week. Major Estimate Revision • Sep 01
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from kr.53.4m to kr.50.0m. Losses expected to increase from kr.0.71 per share to kr.0.85. Entertainment industry in Sweden expected to see average net income growth of 52% next year. Consensus price target down from kr9.81 to kr7.90. Share price rose 4.7% to kr2.67 over the past week. Reported Earnings • Aug 25
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: kr.0.30 loss per share. Revenue: kr.10.0m (up 31% from 2Q 2021). Net loss: kr.17.9m (loss widened 64% from 2Q 2021). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 61%. Over the next year, revenue is forecast to grow 66%, compared to a 48% growth forecast for the Entertainment industry in Sweden. Reported Earnings • May 26
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: kr.0.26 loss per share. Revenue: kr.11.2m (up 51% from 1Q 2021). Net loss: kr.15.1m (loss widened 299% from 1Q 2021). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) missed analyst estimates by 36%. Over the next year, revenue is forecast to grow 55%, compared to a 69% growth forecast for the industry in Sweden. Major Estimate Revision • May 02
Consensus revenue estimates fall by 14% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from kr.59.4m to kr.51.0m. Forecast losses increased from -kr.0.25 to -kr.0.67 per share. Entertainment industry in Sweden expected to see average net income growth of 92% next year. Consensus price target of kr9.70 unchanged from last update. Share price fell 2.6% to kr4.01 over the past week. Breakeven Date Change • May 01
No longer forecast to breakeven The analyst covering Linkfire no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of kr.5.48m in 2023. New forecast suggests the company will make a loss of kr.1.08m in 2024. Reported Earnings • Apr 08
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: kr.0.77 loss per share. Revenue: kr.33.7m (up 36% from FY 2020). Net loss: kr.35.6m (loss widened 164% from FY 2020). Revenue missed analyst estimates by 5.7%. Earnings per share (EPS) also missed analyst estimates by 69%. Over the next year, revenue is forecast to grow 76%, compared to a 65% growth forecast for the industry in Sweden. Reported Earnings • Feb 25
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: kr.0.74 loss per share (up from kr.1.28 loss in FY 2020). Revenue: kr.33.7m (up 36% from FY 2020). Net loss: kr.34.3m (loss widened 155% from FY 2020). Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates by 147%. Over the next year, revenue is forecast to grow 76%, compared to a 66% growth forecast for the industry in Sweden. Tillkännagivande • Feb 25
Linkfire A/S to Report Q4, 2022 Results on Feb 23, 2023 Linkfire A/S announced that they will report Q4, 2022 results on Feb 23, 2023 Board Change • Dec 31
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Thomas Rudbeck is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 27
Consensus EPS estimates fall to -kr.0.44 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from kr.37.8m to kr.35.7m. Losses expected to increase from -kr.0.36 to -kr.0.44. Entertainment industry in Sweden expected to see average net income growth of 42% next year. Consensus price target of kr15.90 unchanged from last update. Share price fell 4.6% to kr6.20 over the past week. Reported Earnings • Nov 21
Third quarter 2021 earnings released: kr.0.15 loss per share The company reported a soft third quarter result with weaker control over costs, although losses were stable and revenues were flat. Third quarter 2021 results: Revenue: kr.8.88m (flat on 3Q 2020). Net loss: kr.8.42m (flat on 3Q 2020).