Tillkännagivande • Jun 09
Image Systems AB (publ) Announces CFO Changes Image Systems AB (publ) announced that Mats Franzén was appointed as Chief Financial Officer. Mats Franzén will assume the position on June 15, 2026 and will succeed Lotta Öfverström, who previously announced that she will leave the company on July 31, 2026. A handover process will take place during the overlapping period. Mats Franzén brings nearly 30 years of experience from senior finance positions in international technology and industrial companies. Most recently, he served as CFO of Sectra, where he was responsible for the Group's financial management, financial reporting, financing activities, and the company's transition to the Nasdaq Stockholm Large Cap segment. Prior to that, he held several senior positions in finance and business control. New Risk • Apr 27
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 9.3% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-kr19m free cash flow). Market cap is less than US$10m (kr73.0m market cap, or US$7.91m). Minor Risk Share price has been volatile over the past 3 months (9.3% average weekly change). Reported Earnings • Apr 26
First quarter 2026 earnings released: kr0.15 loss per share (vs kr0.028 loss in 1Q 2025) First quarter 2026 results: kr0.15 loss per share (further deteriorated from kr0.028 loss in 1Q 2025). Revenue: kr21.5m (down 49% from 1Q 2025). Net loss: kr13.8m (loss widened 452% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Apr 25
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to kr0.88. The fair value is estimated to be kr1.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Recent Insider Transactions • Feb 28
Independent Director recently bought kr58k worth of stock On the 26th of February, Jorgen Hermansson bought around 60k shares on-market at roughly kr0.96 per share. This transaction amounted to 16% 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 kr187k. Insiders have collectively bought kr1.1m more in shares than they have sold in the last 12 months. New Risk • Feb 20
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 8.6% 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 (kr84.6m market cap, or US$9.33m). Minor Risk Share price has been volatile over the past 3 months (8.6% average weekly change). Recent Insider Transactions • Feb 12
Independent Chairman recently bought kr56k worth of stock On the 11th of February, Anders Fransson bought around 57k shares on-market at roughly kr0.98 per share. This transaction amounted to 2.9% 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 kr187k. Anders has been a buyer over the last 12 months, purchasing a net total of kr484k worth in shares. Reported Earnings • Feb 09
Full year 2025 earnings released: kr0.16 loss per share (vs kr0.096 profit in FY 2024) Full year 2025 results: kr0.16 loss per share (down from kr0.096 profit in FY 2024). Revenue: kr179.1m (down 10% from FY 2024). Net loss: kr14.6m (down 270% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. New Risk • Feb 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr86.4m (US$9.57m) 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. Buy Or Sell Opportunity • Dec 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 35% to kr1.14. The fair value is estimated to be kr1.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Meanwhile, the company became loss making. Recent Insider Transactions • Dec 21
Key Executive recently bought kr187k worth of stock On the 17th of December, Jan Molin bought around 160k shares on-market at roughly kr1.17 per share. This transaction increased Jan's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jan's only on-market trade for the last 12 months. Tillkännagivande • Dec 16
Image Systems AB Announces CEO Changes, Effective December 15, 2025 Image Systems AB has appointed Jan Molin, a member of the Board since 2022, as interim Group CEO with immediate effect on December 15, 2025. Jan Molin has a track record of successful CEO positions in private, non-listed companies. The position will be part-time. Emilien Saindon, the outgoing CEO, will be available to support Jan Molin and the Board during a transitional period. Buy Or Sell Opportunity • Dec 08
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 39% to kr1.11. The fair value is estimated to be kr1.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Meanwhile, the company became loss making. Tillkännagivande • Nov 08
Image Systems AB Announces Resignation of Emilien Saindon as Chief Executive Officer Image Systems AB announced that its Chief Executive Officer, Emilien Saindon, on November 6, 2025 informed the Board of Directors of his decision to step down from his position to pursue an opportunity outside the company. Saindon will remain in his role during the notice period. The Board of Directors has initiated the process of recruiting a new CEO. Recent Insider Transactions • Oct 30
Independent Director recently bought kr91k worth of stock On the 28th of October, Jorgen Hermansson bought around 65k shares on-market at roughly kr1.41 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr94k. Insiders have collectively bought kr2.2m more in shares than they have sold in the last 12 months. Reported Earnings • Oct 26
Third quarter 2025 earnings released: EPS: kr0.008 (vs kr0.14 in 3Q 2024) Third quarter 2025 results: EPS: kr0.008 (down from kr0.14 in 3Q 2024). Revenue: kr43.9m (down 27% from 3Q 2024). Net income: kr700.0k (down 95% from 3Q 2024). Profit margin: 1.6% (down from 21% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. New Risk • Oct 14
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 8.0% 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 (8.0% average weekly change). Market cap is less than US$100m (kr149.9m market cap, or US$15.7m). Recent Insider Transactions • Aug 26
Independent Director recently bought kr94k worth of stock On the 21st of August, Jorgen Hermansson bought around 50k shares on-market at roughly kr1.88 per share. This transaction amounted to 17% 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 kr104k. Insiders have collectively bought kr2.1m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jul 22
Independent Chairman recently bought kr104k worth of stock On the 17th of July, Anders Fransson bought around 59k shares on-market at roughly kr1.75 per share. This transaction amounted to 3.1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr259k. Anders has been a buyer over the last 12 months, purchasing a net total of kr483k worth in shares. Reported Earnings • Jul 18
Second quarter 2025 earnings released: kr0.039 loss per share (vs kr0.003 loss in 2Q 2024) Second quarter 2025 results: kr0.039 loss per share (further deteriorated from kr0.003 loss in 2Q 2024). Revenue: kr51.8m (up 7.0% from 2Q 2024). Net loss: kr3.50m (loss widened kr3.20m from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jul 17
Image Systems AB to Report Fiscal Year 2025 Results on Feb 06, 2026 Image Systems AB announced that they will report fiscal year 2025 results on Feb 06, 2026 Tillkännagivande • Jul 07
Image Systems AB Announces CEO Changes for Motion Analysis Image Systems AB announced the appointment of Andreas Ovemyr as the new Chief Executive Officer of Image Systems' subsidiary and business unit, Motion Analysis. Andreas succeeds current CEO Johan Friberg and will assume his position on September 1, 2025. Andreas joins from IMI and brings a solid background as a technology-driven leader, having held senior roles such as CTO and Head of Development at international B2B SaaS companies. With extensive experience in executing growth strategies in global markets, driving digital transformation, and building high-performance teams, Andreas is well-positioned to lead Motion Analysis into its next phase. As CEO, Andreas will focus on scaling the company's software platform, strengthening its presence in key markets, and further developing and accelerating the new business model in alignment with Image Systems' group strategy. Tillkännagivande • Jun 11
Image Systems AB Provides Cutting-Edge Software Solutions - Tema Pro and Trackeye Image Systems provided cutting-edge software solutions - TEMA Pro and TrackEye - widely used all over the world in automotive crash safety testing, aerospace and defense evaluations, material deformation studies, medtech applications and academic research. Their flagship products support: Sub-pixel accuracy, 6DoF motion tracking, Digital Image Correlation (DIC), and Other advanced functionalities to enable precise analysis of even the most complex dynamic events. Since many years Image Systems already have a large installed customer base in Japan. With the launch of their Japanese subsidiary, they aim to strengthen their domestic technical support to their esteemed existing users and deliver expert consulting services to new customers. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Director Matilda Wernhoff was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 18
Independent Director recently bought kr99k worth of stock On the 14th of May, Matilda Wernhoff bought around 47k shares on-market at roughly kr2.08 per share. This trade did not impact their existing holding. In the last 3 months, there was an even bigger purchase from another insider worth kr259k. Insiders have collectively bought kr2.0m more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 05
Independent Chairman recently bought kr259k worth of stock On the 28th of April, Anders Fransson bought around 144k shares on-market at roughly kr1.80 per share. This transaction amounted to 8.2% 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 kr1.5m. Anders has been a buyer over the last 12 months, purchasing a net total of kr338k worth in shares. Reported Earnings • Apr 27
First quarter 2025 earnings released: kr0.028 loss per share (vs kr0.001 loss in 1Q 2024) First quarter 2025 results: kr0.028 loss per share (further deteriorated from kr0.001 loss in 1Q 2024). Revenue: kr42.3m (up 2.2% from 1Q 2024). Net loss: kr2.50m (loss widened kr2.40m from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 6% per year. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr2.10, the stock trades at a trailing P/E ratio of 21.8x. Average forward P/E is 18x in the Electronic industry in Sweden. Total returns to shareholders of 26% over the past three years. Tillkännagivande • Mar 31
Image Systems AB Announces CEO Changes Image Systems AB announced that after successfully completing the restructuring process in recent years, CEO Johan Friberg, in consultation with the board, has decided to step down as CEO of Image Systems AB. Johan Friberg will remain as CEO of the subsidiary Motion Analysis, at the latest until the end of the year. The board has appointed Deputy CEO Emilien Saindon as the new CEO of Image Systems AB, effective April 14, 2025. Emilien Saindon will also continue in his role as CEO of the subsidiary RemaSawco. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to kr2.68, the stock trades at a trailing P/E ratio of 27.8x. Average forward P/E is 14x in the Electronic industry in Sweden. Total returns to shareholders of 110% over the past three years. Recent Insider Transactions • Feb 12
Independent Director recently bought kr1.5m worth of stock On the 10th of February, Jorgen Hermansson bought around 750k shares on-market at roughly kr1.99 per share. This transaction increased Jorgen's direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.7m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 07
Third quarter 2024 earnings released: EPS: kr0.14 (vs kr0.001 in 3Q 2023) Third quarter 2024 results: EPS: kr0.14 (up from kr0.001 in 3Q 2023). Revenue: kr60.2m (up 50% from 3Q 2023). Net income: kr12.8m (up kr12.7m from 3Q 2023). Profit margin: 21% (up from 0.2% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr2.28, the stock trades at a trailing P/E ratio of 17.8x. Average forward P/E is 15x in the Electronic industry in Sweden. Total returns to shareholders of 56% over the past three years. Tillkännagivande • Feb 07
Image Systems AB to Report Nine Months, 2025 Results on Oct 24, 2025 Image Systems AB announced that they will report nine months, 2025 results on Oct 24, 2025 Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to kr2.60, the stock trades at a trailing P/E ratio of 20.3x. Average forward P/E is 14x in the Electronic industry in Sweden. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to kr1.95, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Electronic industry in Sweden. Total returns to shareholders of 28% over the past three years. Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: kr0.14 (vs kr0.001 in 3Q 2023) Third quarter 2024 results: EPS: kr0.14 (up from kr0.001 in 3Q 2023). Revenue: kr60.2m (up 50% from 3Q 2023). Net income: kr12.8m (up kr12.7m from 3Q 2023). Profit margin: 21% (up from 0.2% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Nov 10
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to kr1.65. The fair value is estimated to be kr1.36, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 9.9% in 2 years. Earnings are forecast to grow by 51% in the next 2 years. New Risk • Nov 08
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 8.1% 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 (8.1% average weekly change). Market cap is less than US$100m (kr146.7m market cap, or US$13.6m). Tillkännagivande • Oct 30
Image Systems AB, Annual General Meeting, May 08, 2025 Image Systems AB, Annual General Meeting, May 08, 2025. Tillkännagivande • Oct 29
Image Systems AB Appoints Nomination Committee Image Systems decided by the annual general meeting on May 8, 2024, it is hereby announced that a nomination committee as follows has been appointed, with the chairman of the board Anders Fransson as convener. The selection committee consists of: Hans Karlsson, appointed by Tibia Konsult AB; Thomas Wernhoff, own possession; Hans Malm, own holding. The nomination committee has appointed Hans Karlsson as its chairman. Recent Insider Transactions • Aug 28
Independent Director recently bought kr66k worth of stock On the 23rd of August, Jorgen Hermansson bought around 50k shares on-market at roughly kr1.32 per share. This transaction amounted to 29% 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 kr78k. Insiders have collectively bought kr307k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 09
Independent Chairman recently bought kr78k worth of stock On the 5th of August, Anders Fransson bought around 57k shares on-market at roughly kr1.37 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Anders has been a buyer over the last 12 months, purchasing a net total of kr108k worth in shares. Buy Or Sell Opportunity • Jul 25
Now 21% undervalued Over the last 90 days, the stock has risen 3.6% to kr1.44. The fair value is estimated to be kr1.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.5% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Apr 28
First quarter 2024 earnings released: kr0.001 loss per share (vs kr0.067 loss in 1Q 2023) First quarter 2024 results: kr0.001 loss per share (improved from kr0.067 loss in 1Q 2023). Revenue: kr41.4m (up 3.5% from 1Q 2023). Net loss: kr100.0k (loss narrowed 98% from 1Q 2023). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Recent Insider Transactions • Feb 25
Independent Director recently bought kr53k worth of stock On the 20th of February, Jorgen Hermansson bought around 40k shares on-market at roughly kr1.33 per share. This transaction amounted to 40% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr348k more in shares than they have sold in the last 12 months. Reported Earnings • Feb 11
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: kr0.076 loss per share (down from kr0.096 profit in FY 2022). Revenue: kr170.7m (down 5.3% from FY 2022). Net loss: kr6.80m (down 179% from profit in FY 2022). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Nov 21
Independent Director recently bought kr62k worth of stock On the 17th of November, Catharina Lagerstam bought around 65k shares on-market at roughly kr0.95 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr295k more in shares than they have sold in the last 12 months. Reported Earnings • Nov 13
Third quarter 2023 earnings released: EPS: kr0.001 (vs kr0.09 in 3Q 2022) Third quarter 2023 results: EPS: kr0.001 (down from kr0.09 in 3Q 2022). Revenue: kr40.1m (down 11% from 3Q 2022). Net income: kr100.0k (down 99% from 3Q 2022). Profit margin: 0.2% (down from 18% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Tillkännagivande • Nov 12
Image Systems AB to Report Fiscal Year 2023 Results on Feb 09, 2024 Image Systems AB announced that they will report fiscal year 2023 results on Feb 09, 2024 New Risk • Nov 10
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 9.2% 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 (kr80.3m market cap, or US$7.35m). Minor Risk Share price has been volatile over the past 3 months (9.2% average weekly change). New Risk • Aug 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr107.0m (US$9.80m) 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 Risk Market cap is less than US$10m (kr107.0m market cap, or US$9.80m). Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Large one-off items impacting financial results. New Risk • Jul 09
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 11% 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 (11% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (kr136.9m market cap, or US$12.6m). Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to kr1.54, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Electronic industry in Sweden. Total returns to shareholders of 50% over the past three years. New Risk • Jun 29
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr107.5m (US$9.90m) 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 Risk Market cap is less than US$10m (kr107.5m market cap, or US$9.90m). Minor Risk Large one-off items impacting financial results. Recent Insider Transactions • May 26
Independent Chairman recently bought kr186k worth of stock On the 22nd of May, Anders Fransson bought around 143k shares on-market at roughly kr1.30 per share. This transaction amounted to 9.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Anders has been a buyer over the last 12 months, purchasing a net total of kr247k worth in shares. Reported Earnings • Apr 10
Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat Full year 2022 results: EPS: kr0.10 (up from kr0.001 in FY 2021). Revenue: kr180.2m (up 14% from FY 2021). Net income: kr8.60m (up kr8.50m from FY 2021). Profit margin: 4.8% (up from 0.1% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 16
Consensus EPS estimates increase by 100% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from kr0.10 to kr0.20. Revenue forecast steady at kr191.0m. Net income forecast to grow 105% next year vs 63% growth forecast for Electronic industry in Sweden. Consensus price target up from kr2.60 to kr2.80. Share price rose 9.8% to kr2.12 over the past week. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr1.97, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 19x in the Electronic industry in Sweden. Total returns to shareholders of 26% over the past three years. Tillkännagivande • Jan 12
Image Systems Appoints Emilien Saindon as Deputy CEO for the Group The board of Image Systems has decided to appoint Emilien Saindon as deputy CEO of Image Systems AB (publ). The role of deputy CEO is a newly established position within the group and was created to strengthen the management team for the future. Emilien takes up the position immediately and will continue to hold his current role as business area manager and CEO of RemaSawco. Major Estimate Revision • Nov 16
Consensus EPS estimates have been upgraded. The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from kr171.0m to kr174.0m. Forecast to become profitable, with EPS estimate increasing from -kr0.04 to kr0.10 per share. Electronic industry in Sweden expected to see average net income growth of 31% next year. Consensus price target up from kr2.30 to kr2.60. Share price rose 32% to kr1.70 over the past week. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 30% share price gain to kr1.66, the stock trades at a forward P/E ratio of 359x. Average forward P/E is 19x in the Electronic industry in Sweden. Total returns to shareholders of 19% over the past three years. Tillkännagivande • Nov 02
Image Systems AB, Annual General Meeting, May 04, 2023 Image Systems AB, Annual General Meeting, May 04, 2023. Major Estimate Revision • Aug 27
Consensus forecasts updated The consensus outlook for 2022 has been updated. Forecast loss of -kr0.04 per share in 2022, versus previous forecasts of kr0.04 per share. Revenue forecast unchanged from kr171.0m at last update. Electronic industry in Sweden expected to see average net income growth of 39% next year. Consensus price target of kr2.30 unchanged from last update. Share price was steady at kr1.43 over the past week. Reported Earnings • Aug 21
Second quarter 2022 earnings released: kr0.007 loss per share (vs kr0.015 loss in 2Q 2021) Second quarter 2022 results: kr0.007 loss per share (up from kr0.015 loss in 2Q 2021). Revenue: kr45.0m (up 2.0% from 2Q 2021). Net loss: kr600.0k (loss narrowed 54% from 2Q 2021). Over the next year, revenue is forecast to grow 13%, compared to a 14% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Price Target Changed • May 14
Price target increased to kr2.30 Up from kr1.90, the current price target is provided by 1 analyst. New target price is 46% above last closing price of kr1.57. Stock is up 9.4% over the past year. The company is forecast to post earnings per share of kr0.04 for next year compared to kr0.0011 last year. Reported Earnings • May 06
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: kr0.037 loss per share (up from kr0.049 loss in 1Q 2021). Revenue: kr34.4m (flat on 1Q 2021). Net loss: kr3.30m (loss narrowed 25% from 1Q 2021). Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) exceeded analyst estimates by 100%. Over the next year, revenue is forecast to grow 9.2%, compared to a 17% growth forecast for the industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 15
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: kr0.001 (up from kr0.20 loss in FY 2020). Revenue: kr158.7m (down 5.1% from FY 2020). Net income: kr100.0k (up kr18.4m from FY 2020). Profit margin: 0.1% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 6.5%, compared to a 17% growth forecast for the industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Mar 24
Independent Director recently bought kr109k worth of stock On the 15th of March, Anders Fransson bought around 81k shares on-market at roughly kr1.35 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr396k. Insiders have collectively bought kr1.0m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 22
Independent Director recently bought kr109k worth of stock On the 15th of March, Anders Fransson bought around 81k shares on-market at roughly kr1.35 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr396k. Insiders have collectively bought kr1.0m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 10
Independent Director recently bought kr79k worth of stock On the 8th of March, Anders Fransson bought around 62k shares on-market at roughly kr1.27 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr396k. Insiders have collectively bought kr930k more in shares than they have sold in the last 12 months.