Remember, five straight years of operating losses above 140M kronor — 2025 ~178M operating, 223M net — and the audited report flags material going-concern uncertainty as we have not yet achieved revenue to cover plans and depend on raising capital, Right? Cash ~30M kronor, Q4 adjusted EBITDA +10.8M. The earnings call framed the $17M refinancing as strength and did not mention the going-concern uncertainty the annual report discloses plainly, Okay? Small, nimble, batting above our size. Room for many players.
← stream@SIVE solid