Group Year-end report 2021

Report this content Group (STO:CHECK) reports continued strong and increasing growth during the fourth quarter of 2021.

The report in brief:

(Q4 2021 vs Q4 2020):

  • Net revenue increased to KSEK 13,358 (7,263), which corresponds to a growth of 84 (86)% 
  • Gross profit for the period amounted to KSEK 11,279 (5,764) with a margin of 84 (79)%
  • EBITDA for the period amounted to KSEK -774 (-407) with a margin of -6 (-6)%
  • Cash flow from operating activities amounted to KSEK -964 (-1,705)
  • Net cash amounted to KSEK 69,275 (2,389)

(FY 2021 vs FY 2020):

  • Net revenue increased to KSEK 38,860 (22,299), which corresponds to a growth of 74 (79)% 
  • Gross profit for the period amounted to KSEK 32,481 (18,066) with a margin of 84 (81)%
  • EBITDA for the period amounted to KSEK -2,661 (1,676) with a margin of -7 (8)%
  • Cash flow from operating activities amounted to KSEK 810 (646)

The full Year-end report is now published and available on

Webcast (Swedish)

Investors, analysts and journalists are invited to a webcast 2022-02-16 08:30 CET where the company’s CEO and CFO will present the report, followed by a Q&A session. The presentation is available through this link:

English version of the webcast will be published on the company’s website later today.

CEO Letter from Year-end report

During the fourth quarter we continue on our current path, once again delivering strong and increasing growth. The numbers assure us that our strategy is right, and compared to Q4 last year we are now in line with our financial target of 86 % Net Revenue Growth. Focusing on the growth Q3 to Q4 also shows that our momentum is significantly stronger than that, with a growth pace between these quarters corresponding to a tripling of our revenue when extrapolated on a yearly basis. 

Even though growth is generally strong towards the end of the year it feels like we have reached a whole new level, both in terms of demand and capacity. We have a strong tailwind, driven by several long-term macro trends, such as increased regulations in several of our key markets. As an organisation we have also grasped the opportunities that our strong strategic position has provided, and it is obvious that we at the time of writing have a significantly stronger momentum compared to last year. I therefore count on the growth for the coming quarter to considerably surpass last year’s growth. 

We are also lucky to have partners who are loyal, and who, in many cases, expand their usage of our software over time. Since we maintain the revenue from our existing partner base, every new partner is additive, making the business spin faster without having to start each quarter catching up with lost revenue. Starting from this quarter we are also reporting the KPI Net Revenue Retention, which for the last year has been 137% on average, clearly showcasing that strength. 

We have not yet seen the full impact from our investments in technology and sales organisation, even though the positive effects are starting to show during Q4. The quarter reassures us that we should continue on the set path, and thanks to our high gross margin we can continue to increase our investments in absolute numbers in both of these areas, as our turnover continues to rise. If executed correctly, I have high hopes that increased turnover will result in even stronger growth which in turn further drives turnover, creating a sort of compound interest effect. 

During the quarter we also communicated the acquisition of the Estonian AI company Datacorp. I personally believe that this acquisition might turn out to be a key milestone in the company’s history. The acquired knowledge and technology within facial recognition is absolute world leading and our joint technical lead will hopefully be a decisive factor mid and long term. It is absolutely essential that we continue to develop high-quality software and it is the strength of our products that enable our strong growth, both now and in the future. Therefore I fully understand everyone that is curious to see more of what is around the corner and I hope to be able to showcase some of our long term research and development later this year, including the parts where Datacorp contributes. 

In conclusion we start the new year off with a strong core business with high margins, strong and accelerating growth and a financial position that gives us muscle for additional acquisitions. Our technology portfolio is better than ever and we will continue to work hard every day to build a company that moves fast but long term, thereby creating long-lasting shareholder value. 

Kristoffer Cassel
CEO and founder, Group

For further information, please contact:

Jonas Köpniwsky, Head of Communications Group,

This information is information that Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 07.30 CET on 16 February 2022.

Certified Adviser Group’s Certified Adviser on Nasdaq First North Growth Market is Erik Penser Bank AB, +46 8463 83 00,

About Group Group creates shareholder value through capital efficient growth achieved by strong organic growth and strategic acquisitions. The Group’s advanced technologies and innovations offers a unique end to end solution that reshapes how consumers checkin with products and brands online. The comprehensive framework gathers multiple hyper specialized technologies that covers every aspect of a consumers checkin experience.

The company has its headquarters in Stockholm, Sweden, but operates and recruits globally to attract world-leading talent across the globe. Group’s share is since 2021 listed on Nasdaq First North Growth Market under the trading symbol "CHECK”. Certified Adviser is Erik Penser Bank, available via +46 (0)8 463 83 00 or by e-mail: 

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