Reported Earnings • May 11
First quarter 2026 earnings released: kr0.79 loss per share (vs kr2.34 loss in 1Q 2025) First quarter 2026 results: kr0.79 loss per share (improved from kr2.34 loss in 1Q 2025). Revenue: kr3.94m (down 92% from 1Q 2025). Net loss: kr6.35m (loss narrowed 63% from 1Q 2025). Duyuru • Apr 30
Fragbite Group AB (publ), Annual General Meeting, May 29, 2026 Fragbite Group AB (publ), Annual General Meeting, May 29, 2026, at 12:00 W. Europe Standard Time. Location: markvardsgatan 5, 113 53 stockholm, stockholm Sweden Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr7.48, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 13x in the Entertainment industry in Sweden. Total loss to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to kr7.32, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 13x in the Entertainment industry in Sweden. Total loss to shareholders of 100% over the past three years. Reported Earnings • Feb 20
Full year 2025 earnings released: EPS: kr0.94 (vs kr19.02 loss in FY 2024) Full year 2025 results: EPS: kr0.94 (up from kr19.02 loss in FY 2024). Revenue: kr156.2m (down 41% from FY 2024). Net income: kr7.62m (up kr136.6m from FY 2024). Profit margin: 4.9% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. New Risk • Nov 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor 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 Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Negative equity (-kr13m). Earnings have declined by 22% per year over the past 5 years. Market cap is less than US$10m (kr60.6m market cap, or US$6.39m). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Reported Earnings • Nov 14
Third quarter 2025 earnings released: kr0.74 loss per share (vs kr4.86 loss in 3Q 2024) Third quarter 2025 results: kr0.74 loss per share (improved from kr4.86 loss in 3Q 2024). Revenue: kr50.3m (down 16% from 3Q 2024). Net loss: kr12.0m (loss narrowed 49% from 3Q 2024). Recent Insider Transactions • Nov 12
Independent Director recently bought kr2.5m worth of stock On the 6th of November, Mikael Pettersson bought around 250k shares on-market at roughly kr10.00 per share. This transaction amounted to 69% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Duyuru • Oct 10
GGP Management, L.P acquired Playdigious SAS from Fragbite Group AB (publ) (OM:FRAG) for €10.5 million. GGP Management, L.P acquired Playdigious SAS from Fragbite Group AB (publ) (OM:FRAG) for €10.5 million on October 8, 2025. A cash consideration of €10.5 million will be paid by Griffin Gaming Partners on cash free and debt free basis. As part of consideration, €10.5 million is paid towards common equity of Playdigious SAS.
As of October 8, 2025, Playdigious SAS reported total common equity of €8.86 million.
Agora Gaming Partners acted as financial advisor for Fragbite Group AB. Wiggin LLP acted as legal advisor for Fragbite Group AB. Lexprime acted as legal advisor for Fragbite Group AB.
GGP Management, L.P completed the acquisition of Playdigious SAS from Fragbite Group AB (publ) (OM:FRAG) for €10.5 million on October 8, 2025. Duyuru • Oct 08
Fragbite Group AB (publ) announced that it expects to receive SEK 200 million in funding from Alumni Capital Limited Fragbite Group AB (publ) announced that it has entered into an equity line of credit agreement to issue common shares for gross proceeds of SEK 200,000,000 on October 8, 2025. The transaction includes participation from new investor, Alumni Capital Limited. The agreement has four-year term. New Risk • Aug 26
New major risk - Negative shareholders equity The company has negative equity. Total equity: -kr1.2m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (41% average weekly change). Negative equity (-kr1.2m). Earnings have declined by 23% per year over the past 5 years. Market cap is less than US$10m (kr85.1m market cap, or US$8.91m). Reported Earnings • Aug 26
Second quarter 2025 earnings released: kr6.27 loss per share (vs kr9.85 loss in 2Q 2024) Second quarter 2025 results: kr6.27 loss per share. Revenue: kr47.7m (down 27% from 2Q 2024). Net loss: kr46.0m (loss widened kr43.8m from 2Q 2024). Duyuru • Jul 22
Fragbite Group AB (publ) announced that it expects to receive SEK 6 million in funding Fragbite Group AB (publ) has entered into an agreement for issuance of convertible loan for gross proceeds of SEK 6 million on July 22, 2025. The investment consists of an interest-free loan that can be converted into shares in the Company at a conversion price of SEK 13 per share, in the event that the closing price exceeds the conversion price by at least 30 percent for at least twenty trading days during a consecutive period of thirty trading days. New Risk • Jun 17
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 14% 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 Less than 1 year of cash runway based on free cash flow trend (-kr47m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 22% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 32x increase in shares outstanding). Market cap is less than US$10m (kr33.6m market cap, or US$3.52m). Board Change • Jun 05
Less than half of directors are independent Following Chairman of the Board Michael Lundgren's arrival on 01 June 2025, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Mikael Pettersson 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. Duyuru • Jun 04
Fragbite Group AB (Publ) Appoints Michael Lundgren as Chairman of the Board of Directors Fragbite Group AB (publ) at its Annual General Meeting held on 3 June 2025, approved the appointment of Michael Lundgren was elected as Board members for the time until the end of the next Annual General Meeting. Michael Lundgren was elected as chairman of the Board of Directors. Reported Earnings • May 15
First quarter 2025 earnings released First quarter 2025 results: Revenue: kr47.7m (down 37% from 1Q 2024). Net loss: kr17.2m (loss narrowed 72% from 1Q 2024). Duyuru • May 02
Fragbite Group AB (publ), Annual General Meeting, Jun 03, 2025 Fragbite Group AB (publ), Annual General Meeting, Jun 03, 2025, at 15:00 W. Europe Standard Time. Location: norrmalmstorg 14, 111 46 stockholm Sweden Duyuru • Apr 16
Lucky Kat Announces Updates to its Title Panzer Dogs, Including the In-Game Store Fragbite Group AB's (publ) announced updates to is title Panzer dogs, including the in-game store. Updates will come into effect after the final step of the public $KOBAN launch which has started with Step 1 - discounted community pre-sale, currently live until this evening. Lucky Kat has announced updates to game title Panzer dogs, the subsidiary's title which is available to play both as a traditional game via PC and mobile, and as a web3 game on the Sui blockchain. On the day that $KOBAN is minted and released for trade on public exchanges, the game will be updated with a number of features: Updates to the integrated in-game store with implementation of $KOBAN, allowing players to buy items and NFTs directly with the token. Re-introduction of the PanzerPass, a seasonal battlepass now updated, the purchase of which allows players to advance in the game, unlock $KOBAN-themed rewards and compete in the game for a $KOBAN airdrop. Dynamic NFT equipment, allowing players to make changes to their already existing NFT avatars in the game. Staking: Players will be able to lock their $KOBAN in a vault to earn different kinds of rewards over time. The longer the player locks the tokens in the vault, the better the rewards. The $KOBAN token launch is currently ongoing with Step 1 - the discounted community pre-sale, live until this afternoon. Reported Earnings • Feb 21
Full year 2024 earnings released: kr19.02 loss per share (vs kr245 loss in FY 2023) Full year 2024 results: kr19.02 loss per share. Revenue: kr270.3m (up 1.9% from FY 2023). Net loss: kr129.0m (loss widened 143% from FY 2023). New Risk • Feb 19
New major risk - Revenue and earnings growth Earnings have declined by 25% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. 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 (-kr89m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 25% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 30x increase in shares outstanding). Market cap is less than US$10m (kr60.0m market cap, or US$5.59m). Duyuru • Jan 22
Fragbite Group AB (publ) Announces Changes in Board and Management Team Fragbite Group AB (publ) announced that Zara Zamani has resigned from the Board of Directors of Fragbite Group to focus on Lucky Kat and the web3 business area. Zara will instead join the group management team. Zara Zamani has handed in her resignation from the Board of Directors of Fragbite Group to the Chairman who has accepted and noted that the resignation takes place with immediate effect. In February 2024 Zara Zamani took over as Interim CEO for subsidiary Lucky Kat, a position she will now assume on a permanent basis alongside being a member of the Fragbite Group management team. Breakeven Date Change • Jan 01
Forecast breakeven date pushed back to 2025 The analyst covering Fragbite Group previously expected the company to break even in 2024. New forecast suggests the company will make a profit of kr4.90m in 2025. Average annual earnings growth of 136% is required to achieve expected profit on schedule. Reported Earnings • Nov 21
Third quarter 2024 earnings released: kr0.01 loss per share (vs kr0.22 loss in 3Q 2023) Third quarter 2024 results: kr0.01 loss per share. Revenue: kr59.9m (down 7.1% from 3Q 2023). Net loss: kr23.4m (loss widened 19% from 3Q 2023). Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Entertainment industry in Sweden. Recent Insider Transactions • Aug 25
Independent Chairman recently bought kr80k worth of stock On the 22nd of August, Sten Wranne bought around 5m shares on-market at roughly kr0.016 per share. This transaction increased Sten's direct individual holding by 12x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Sten's only on-market trade for the last 12 months. Reported Earnings • Aug 21
Second quarter 2024 earnings released: kr0.02 loss per share (vs kr0.29 loss in 2Q 2023) Second quarter 2024 results: kr0.02 loss per share (improved from kr0.29 loss in 2Q 2023). Revenue: kr65.2m (up 2.7% from 2Q 2023). Net loss: kr2.15m (loss narrowed 92% from 2Q 2023). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Entertainment industry in Sweden. New Risk • Jul 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 33x increase in shares outstanding. 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 Risks Less than 1 year of cash runway based on free cash flow trend (-kr29m free cash flow). Share price has been highly volatile over the past 3 months (46% average weekly change). Shareholders have been substantially diluted in the past year (over 33x increase in shares outstanding). Minor Risk Market cap is less than US$100m (kr143.6m market cap, or US$13.3m). Reported Earnings • May 19
First quarter 2024 earnings released: kr0.20 loss per share (vs kr0.28 loss in 1Q 2023) First quarter 2024 results: kr0.20 loss per share (improved from kr0.28 loss in 1Q 2023). Revenue: kr80.6m (up 38% from 1Q 2023). Net loss: kr22.0m (loss narrowed 13% from 1Q 2023). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Entertainment industry in Sweden. Reported Earnings • Apr 22
Full year 2023 earnings released: kr0.49 loss per share (vs kr1.16 loss in FY 2022) Full year 2023 results: kr0.49 loss per share (improved from kr1.16 loss in FY 2022). Revenue: kr265.2m (flat on FY 2022). Net loss: kr53.1m (loss narrowed 49% from FY 2022). Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Entertainment industry in Sweden. Duyuru • Apr 03
Fragbite Group AB (publ), Annual General Meeting, May 21, 2024 Fragbite Group AB (publ), Annual General Meeting, May 21, 2024. Reported Earnings • Feb 23
Full year 2023 earnings released: kr0.56 loss per share (vs kr1.16 loss in FY 2022) Full year 2023 results: kr0.56 loss per share (improved from kr1.16 loss in FY 2022). Revenue: kr265.9m (flat on FY 2022). Net loss: kr53.1m (loss narrowed 49% from FY 2022). New Risk • Feb 08
New major risk - Revenue and earnings growth Earnings have declined by 49% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 49% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (kr160.2m market cap, or US$15.3m). Reported Earnings • Nov 24
Third quarter 2023 earnings released: kr0.22 loss per share (vs kr0.26 loss in 3Q 2022) Third quarter 2023 results: kr0.22 loss per share (improved from kr0.26 loss in 3Q 2022). Revenue: kr64.5m (down 14% from 3Q 2022). Net loss: kr19.7m (loss narrowed 14% from 3Q 2022). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Entertainment industry in Sweden. Breakeven Date Change • Nov 16
Forecast to breakeven in 2024 The analyst covering Fragbite Group expects the company to break even for the first time. New forecast suggests losses will reduce by 0.1% to 2023. The company is expected to make a profit of kr6.00m in 2024. Average annual earnings growth of 87% is required to achieve expected profit on schedule. Recent Insider Transactions • Oct 19
Chairman of the Board recently bought kr998k worth of stock On the 13th of October, Stefan Tengvall bought around 454k shares on-market at roughly kr2.20 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stefan has been a buyer over the last 12 months, purchasing a net total of kr1.8m worth in shares. New Risk • Oct 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.5% This is considered a minor 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr20m). Currently unprofitable and not forecast to become profitable over next 2 years (kr78m net loss in 2 years). Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Market cap is less than US$100m (kr194.7m market cap, or US$17.7m). Major Estimate Revision • Aug 24
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from kr285.0m to kr250.5m. Forecast losses increased from -kr0.90 to -kr1.10 per share. Entertainment industry in Sweden expected to see average net income growth of 57% next year. Consensus price target of kr6.00 unchanged from last update. Share price fell 5.6% to kr2.36 over the past week. New Risk • Aug 18
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -kr19m This is considered a minor 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 Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr19m). Currently unprofitable and not forecast to become profitable over next 2 years (kr64m net loss in 2 years). Market cap is less than US$100m (kr218.5m market cap, or US$19.9m). Reported Earnings • Aug 18
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: kr0.29 loss per share (improved from kr0.35 loss in 2Q 2022). Revenue: kr63.6m (up 12% from 2Q 2022). Net loss: kr26.6m (loss narrowed 14% from 2Q 2022). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 45%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Entertainment industry in Sweden. New Risk • Jun 20
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 Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr66m net loss in 2 years). Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Market cap is less than US$100m (kr256.2m market cap, or US$23.7m). Reported Earnings • Apr 17
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: kr1.16 loss per share (further deteriorated from kr0.80 loss in FY 2021). Revenue: kr265.1m (up 103% from FY 2021). Net loss: kr103.1m (loss widened 105% from FY 2021). Revenue missed analyst estimates by 7.6%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Entertainment industry in Sweden. Recent Insider Transactions • Mar 01
Chairman of the Board recently bought kr619k worth of stock On the 24th of February, Stefan Tengvall bought around 200k shares on-market at roughly kr3.09 per share. This transaction amounted to 9.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Stefan has been a buyer over the last 12 months, purchasing a net total of kr839k worth in shares. Reported Earnings • Feb 24
Full year 2022 earnings released: kr1.16 loss per share (vs kr0.80 loss in FY 2021) Full year 2022 results: kr1.16 loss per share (further deteriorated from kr0.80 loss in FY 2021). Revenue: kr265.1m (up 103% from FY 2021). Net loss: kr103.1m (loss widened 105% from FY 2021). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Entertainment industry in Sweden. Reported Earnings • Nov 20
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: kr0.26 loss per share (further deteriorated from kr0.15 loss in 3Q 2021). Revenue: kr74.7m (up 69% from 3Q 2021). Net loss: kr23.0m (loss widened 95% from 3Q 2021). Revenue exceeded analyst estimates by 8.4%. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in Sweden. Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Dawid Myslinski is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 24
Second quarter 2022 earnings released: kr0.35 loss per share (vs kr0.30 loss in 2Q 2021) Second quarter 2022 results: kr0.35 loss per share (down from kr0.30 loss in 2Q 2021). Revenue: kr56.7m (up 203% from 2Q 2021). Net loss: kr30.8m (loss widened 81% from 2Q 2021). Reported Earnings • May 28
First quarter 2022 earnings released: kr0.25 loss per share (vs kr0.23 loss in 1Q 2021) First quarter 2022 results: kr0.25 loss per share (down from kr0.23 loss in 1Q 2021). Revenue: kr57.2m (up kr53.8m from 1Q 2021). Net loss: kr21.7m (loss widened 193% from 1Q 2021). Duyuru • May 02
Fragbite Group AB (publ) to Report Fiscal Year 2022 Results on Feb 28, 2023 Fragbite Group AB (publ) announced that they will report fiscal year 2022 results on Feb 28, 2023 Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Dawid Myslinski is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: kr0.61 loss per share. Revenue: kr130.8m (up kr120.1m from FY 2020). Net loss: kr50.4m (loss widened 123% from FY 2020). Revenue was in line with analyst estimates. Board Change • Dec 31
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director David Myslinski is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Dec 03
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: kr0.15 loss per share. Revenue: kr44.1m (flat on 3Q 2020). Net loss: kr11.8m (flat on 3Q 2020). Revenue was in line with analyst estimates. 
