contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


formpipe-better-margins-than-expected-abg

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Formpipe is a software company focused on the development and distribution of software solutions for document management and process automation. The company's products are aimed at companies and organizations that need effective solutions for document management and compliance. The company is global, was founded in 2004 and is headquartered in Stockholm, Sweden.

Formpipe Software

* Lasernet +13% organic growth y-o-y, +2% vs. ABGSCe* 13% adj. EBIT margin (vs. ABGSCe 4%)* Cons. to lift '26e-'27e EBIT by ~10%Q3 resultsSales SEK 61m (+2% vs ABGSC 59m), EBITDA 9m (+25% vs...

* Lasernet +13% organic growth y-o-y, +2% vs. ABGSCe* 13% adj. EBIT margin (vs. ABGSCe 4%)* Cons. to lift '26e-'27e EBIT by ~10%Q3 resultsSales SEK 61m (+2% vs ABGSC 59m), EBITDA 9m (+25% vs ABGSC 7m), adj. EBIT 8m (+273% vs ABGSC 2m). Cash flow was strong, albeit mainly driven by the divested business. Overall, a good report, with much better margins than expected on the back of lower opex.Q3 thoughtsThis was the first quarter with Formpipe's Public segment deconsolidated from the PnL, as it is now treated as discontinued operations following the recent sale. The segment that remains - Lasernet - saw organic sales +13% y-o-y, which was 2% ahead of our forecast. Meanwhile, costs were lower, resulting in adj. EBITDA margin (before group costs) of 32% (vs. 17% Q3'24). Including group costs, the adj. EBITDA margin was 21% (8%), whereas the y-o-y improvement was driven by operational leverage on higher sales coupled with recent cost outs. ARR grew 7% y-o-y, which was in line with +7% y-o-y in Q2. SaaS ACV was SEK 8m (ABGSCe SEK 8m), up from SEK 7m in Q3'24, whereas Formpipe says that momentum with Dynamics is good. Encouragingly, momentum with Temenos is also picking up (which we have recently expected to occur).Estimate changes and valuationFormpipe's share is -14% over L3M at is trading at 2.1x EV/sales on our unrevised 2026 estimates. Following the Q3 report, we expect consensus to raise '26e-'27e EBIT by ~10% on lower cost assumptions.