Clavister

4.93 SEK

+3.71 %

Less than 1K followers

CLAV

First North Stockholm

IT Services

Technology

+3.71 %
-0.32 %
+4.36 %
+69.86 %
+52.98 %
-7.06 %
+120.34 %
+14.89 %
-47.49 %

Clavister is a Swedish company that develops end-to-end cybersecurity solutions, focusing on network security, identity and access management, and cloud and device security. The company's customers are operators, authorities, enterprises and cloud service providers globally. Clavister was founded in 1997 and is headquartered in Örnsköldsvik, Sweden.

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Market cap
1.83B SEK
Turnover
8.02M SEK
Revenue
219.23M
EBIT %
-4.06 %
P/E
246.3
Dividend yield-%
-
Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
20.8
2026

Interim report Q2'26

12.11
2026

Interim report Q3'26

11.2
2027

Annual report '26

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Third party research

Clavister: The defence story is just starting - ABG

* Gross margins above its target of 80% * Order book at a record and foundation getting stronger * Trading at EV/EBITDA of 18-10x '26e-'27e, ~20% below peers Only getting better from here Clavister reported a strong Q1'26 report, with sales up 35% y-...

Clavister
Third party research

Clavister: A new chapter begins - ABG

* Sales of SEK 72m (-5% vs. ABGSCe 76), a 35% y-o-y growth * Order book at a record, and ARR up 6% * Now with a solid foundation for the future Q1'26 results Clavister reported Q1'26 sales of SEK 72m (-5% vs. ABGSCe 76m), implying 35% y-o-y growth, reflecting...

Clavister

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Third party research

Clavister: Norwegian order showing benefits - ABG

* Defence order lifts Q1e sales to SEK 76m, +42% y-o-y * Entering the new year with stronger financial fundamentals * Expecting an average FCF yield 7% p.a. '26e-'28e Strong quarter thanks to Norwegian order This is the first quarter with the Norwegian...

Clavister
Third party research

Clavister: Entering 2026 with improved fundamentals - ABG

* Softer Q4 numbers due to FX and tough comps * We raise EBITDA by 6% for '27e * Trading at 13-9x EV/EBITDA for '26e-'27e, ~30% below peers Quarter held back by FX and tough comps Clavister reported Q4'25 sales of SEK 61m, for 3% y-o-y growth, held back...

Clavister
Third party research

Clavister continues to scale - ABG

* Sales of SEK 61m (-5% vs. ABGSCe), a 3% y-o-y growth * ARR continues to grow, up 5%, and defence up 66% y-o-y * More a scaling story than a turnaround Q4'25 results Clavister reported Q4'25 sales of SEK 61m (-5% vs. ABGSCe 64m), implying 3% y-o-y growth...

Clavister
Third party research

Clavister: The calm before the upswing - ABG

* Softer Q4 numbers due to postponed orders... * ...but we raise EBITDA ~65% for '26e-'27e after recent defence order * Avg. of ~13-11x EV/EBITDA for '26e-'27e, ~30% below peers Softer Q4e due to market conditions and postponed orders Clavister will ...

Clavister
Third party research

Clavister: Largest contract ever for Clavister - ABG

* Wins a SEK 280m contract, starting in Q1'26 * Pure software delivery, supporting a stronger margin profile * Significant, positive mechanical impact to consensus sales estimates A strategically important win Clavister has been awarded a ~SEK 280m contract...

Clavister
Third party research

Clavister: Directed rights issue of SEK 167m - ABG

Will lower financial expenses by SEK 2m per year We estimate ND/EBITDA of ~1.4x in Q4'25e Better terms, improved financial visibility Directed rights issue, loan facility and repurchase of warrants This week, Clavister announced a directed share issue...

Clavister
Third party research

Clavister: Secures defence order of SEK 26m - ABG

* ~SEK 26m defence order announced earlier today* Backlog of ~SEK 390m* Provides additional visibilityNew defence order worth ~SEK 26mClavister has received an order worth ~SEK 26m from BAE Systems Hägglunds for its CyberArmour solution, to be integrated...

Clavister

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