Press the button and be introduced to a new random company!

Introduce me >

Social media

facebook   Follow us on Twitter

Coverage

Skolon

Skolon

Send subscription Close

Skolon provides a SaaS B2B platform for educational technology, allowing educational providers to collect and curate digital learning tools for K-12 students and teachers. The company charges its clients (education institutions) a subscription fee for each end-user. It also charges its partners (EdTech tool suppliers) a fixed fee for platform presence, and a take-rate from sales generated through the Skolon platform. Key markets include the Nordics and the UK. The company's financial target is an annual sales growth rate of 50%.

Sustainability information

Key risks include increased competition in a relatively under penetrated market, security breaches that could compromise student data, changes to the regulatory landscape regarding data security, and an inability to generate maintainable profit, given the company's brief operating history as a publicly listed entity.

Financials

SEKm 2025 2026e 2027e
Sales 192 268 351
Sales growth (%) 32,1 39,8 31
EBITDA 3 20 41
EBITDA margin (%) 1,4 7,3 11,6
EBIT adj. -3 13 32
EBIT adj. margin (%) -1,5 4,8 9,1
Pretax profit -3 13 33
EPS -0,13 0,5 1,24
EPS growth (%) -34,5 N/A N/A
EPS adj. -0,13 0,5 1,24
DPS 0 0 0
EV/EBITDA (x) 295 38,6 17,5
EV/EBIT adj. (x) -273,8 59,2 22,4
P/E (x) N/A 61 24,9
P/E adj. (x) N/A 61 24,9
EV/sales (x) 4,1 2,84 2,04
FCF yield (%) 0,9 3,1 5,6
Le. adj. FCF yld. (%) 0,9 3,1 5,6
Dividend yield (%) 0 0 0
Net IB debt/EBITDA (x) -11,7 -2,9 -2,5
Le. adj. ND/EBITDA (x) -11,7 -2,9 -2,5
SEKm 2025 2026e 2027e
Sales 192 268 351
COGS -139 -189 -243
Gross profit 53 79 108
Other operating items -50 -60 -67
EBITDA 3 20 41
Depreciation and amortisation -6 -7 -9
of which leasing depreciation 0 0 0
EBITA -3 13 32
EO Items 0 0 0
Impairment and PPA amortisation 0 0 0
EBIT -3 13 32
Net financial items -1 1 1
Pretax profit -3 13 33
Tax 0 0 0
Net profit -3 13 33
Minority interest 0 0 0
Net profit discontinued 0 0 0
Net profit to shareholders -3 13 33
EPS -0,13 0,5 1,24
EPS adj. -0,13 0,5 1,24
Total extraordinary items after tax 0 0 0
Leasing payments 0 0 0
Tax rate (%) 0 0 0
Gross margin (%) 27,7 29,6 30,9
EBITDA margin (%) 1,4 7,3 11,6
EBITA margin (%) -1,5 4,8 9,1
EBIT margin (%) -1,5 4,8 9,1
Pre-tax margin (%) -1,8 5 9,3
Net margin (%) -1,8 5 9,3
Sales growth (%) 32,1 39,8 31
EBITDA growth (%) -29,9 638,5 107,6
EBITA growth (%) -47 -547,1 148,5
EBIT growth (%) -47 -547,1 N/A
Net profit growth (%) -34,5 -489,3 145
EPS growth (%) -34,5 N/A N/A
Profitability N/A N/A N/A
ROE (%) -31,7 81 82,8
ROE adj. (%) -31,7 81 82,8
ROCE (%) -31,7 81 82,8
ROCE adj. (%) -31,7 81 82,8
ROIC (%) 17,8 -46,7 -79,7
ROIC adj. (%) 17,8 -46,7 -79,7
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 3 20 41
EBITDA adj. margin (%) 1,4 7,3 11,6
EBITDA lease adj. 3 20 41
EBITDA lease adj. margin (%) 1,4 7,3 11,6
EBITA adj. -3 13 32
EBITA adj. margin (%) -1,5 4,8 9,1
EBIT adj. -3 13 32
EBIT adj. margin (%) -1,5 4,8 9,1
Pretax profit Adj. -3 13 33
Net profit Adj. -3 13 33
Net profit to shareholders adj. -3 13 33
Net adj. margin (%) -1,8 5 9,3
SEKm 2025 2026e 2027e
EBITDA 3 20 41
Goodwill 0 0 0
Net financial items -1 1 1
Other intangible assets 18 23 29
Paid tax 0 0 0
Tangible fixed assets 0 1 1
Non-cash items 0 0 0
Right-of-use asset 0 0 0
Cash flow before change in WC 2 20 42
Total other fixed assets 0 0 0
Change in working capital 13 17 19
Fixed assets 19 24 30
Operating cash flow 15 38 61
Inventories 0 0 0
Capex tangible fixed assets 0 -1 -1
Receivables 30 43 57
Capex intangible fixed assets -8 -11 -14
Other current assets 0 0 0
Acquisitions and Disposals 0 0 0
Cash and liquid assets 31 57 102
Free cash flow 7 26 46
Total assets 80 123 190
Dividend paid 0 0 0
Shareholders equity 10 23 56
Share issues and buybacks 0 0 0
Minority 0 0 0
Leasing liability amortisation 0 0 0
Total equity 10 23 56
Other non-cash items 1 0 0
Long-term debt 0 0 0
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 0 0 0
Total other long-term liabilities 0 0 0
Short-term debt 0 0 0
Accounts payable 20 29 38
Other current liabilities 50 72 96
Total liabilities and equity 80 123 190
Net IB debt -31 -57 -102
Net IB debt excl. pension debt -31 -57 -102
Net IB debt excl. leasing -31 -57 -102
Capital employed 10 23 56
Capital invested -21 -34 -46
Working capital -40 -57 -76
Market cap. diluted (m) 818 818 818
Net IB debt adj. -31 -57 -102
Market value of minority 0 0 0
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 786 761 715
Total assets turnover (%) 271,5 263,9 224,2
Working capital/sales (%) -17,4 -18,1 -19
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) -316,9 -244,9 -182,7
Net debt / market cap (%) -3,8 -7 -12,5
Equity ratio (%) 12,3 18,8 29,5
Net IB debt adj. / equity (%) -316,9 -244,9 -182,7
Current ratio 0,87 1 1,19
EBITDA/net interest 4,7 35,7 45,1
Net IB debt/EBITDA (x) -11,7 -2,9 -2,5
Net IB debt/EBITDA lease adj. (x) -11,7 -2,9 -2,5
Interest coverage N/A N/A N/A
SEKm 2025 2026e 2027e
Shares outstanding adj. 27 27 27
Diluted shares adj. 27 27 27
EPS -0,13 0,5 1,24
Dividend per share 0 0 0
EPS adj. -0,13 0,5 1,24
BVPS 0,37 0,87 2,11
BVPS adj. N/A N/A N/A
Net IB debt/share -1,17 -2,14 -3,86
Share price 30,8 30,8 30,8
Market cap. (m) 818 818 818
P/E (x) N/A 61 24,9
EV/sales (x) 4,1 2,8 2
EV/EBITDA (x) 295 38,6 17,5
EV/EBITA (x) -273,8 59,2 22,4
EV/EBIT (x) -273,8 59,2 22,4
Dividend yield (%) 0 0 0
FCF yield (%) 0,9 3,1 5,6
Le. adj. FCF yld. (%) 0,9 3,1 5,6
P/BVPS (x) 83,16 35,2 14,59
P/BVPS adj. (x) -95,14 1751,54 30,03
P/E adj. (x) N/A 61 24,9
EV/EBITDA adj. (x) 295 38,6 17,5
EV/EBITA adj. (x) -273,8 59,2 22,4
EV/EBIT adj. (x) -273,8 59,2 22,4
EV/CE (x) 80 32,8 12,8
Investment ratios N/A N/A N/A
Capex/sales (%) 4,4 4,4 4,4
Capex/depreciation 1,5 1,7 1,7
Capex tangibles / tangible fixed assets 90,2 133,6 114,4
Capex intangibles / definite intangibles 44,9 47,1 48,7
Depreciation on intang / def. intang 29,3 28,1 27,7
Depreciation on tangibles / tangibles 79,8 56,6 79,7

Equity research

Read earlier research

Media

Skolon - Company presentation with CEO Oliver Lundgren
Skolon | Q3 Earnings Call with CEO Oliver Lundgren

View more media

Main shareholders - Skolon

Main shareholders Share capital % Voting shares % Verified
CIMON Innovation AB 36.3 % 36.3 % 5 Jul 2024
A/S AF 26.10.1983 20.0 % 20.0 % 26 Sep 2025
Länsförsäkringar 14.6 % 14.6 % 26 Sep 2025
Swedbank Robur Fonder 4.7 % 4.7 % 30 Nov 2025
Proweden AB 4.4 % 4.4 % 26 Sep 2025
Entreprenörinvest Sverige AB 3.3 % 3.3 % 26 Sep 2025
Per-Anders Johansson 3.1 % 3.1 % 28 Nov 2025
Joesli Sweden Holding AB 2.4 % 2.4 % 26 Sep 2025
Oliver Lundgren 2.1 % 2.1 % 19 Nov 2025
Max Lönner 1.6 % 1.6 % 26 Sep 2025
Source: Holdings by Modular Finance AB