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-positive-revisions-on-leaner-costs-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

* Encouraging ACV growth and margins* Small sales revisions, but '26e-'27e EBIT up 29-28% on lower costs* 2.7x EV/sales in '26e (excl. the anticipated DPS)Sequential improvements and good cost...

* Encouraging ACV growth and margins* Small sales revisions, but '26e-'27e EBIT up 29-28% on lower costs* 2.7x EV/sales in '26e (excl. the anticipated DPS)Sequential improvements and good cost controlQ3 was the first quarter in which Formpipe's Public Segment was de-consolidated from the P&amp;L, as it is now being treated as a discontinued operation following the recent sale (closing expected on 1 December). The remaining segment, Lasernet, saw good sequential improvements, with 13% organic y-o-y growth to sales of SEK 61m — 2% ahead of our forecast. This was mainly driven by good momentum with Dynamics customers. Encouragingly, deal activity with Temenos has also started to improve, resulting in a SaaS ACV of SEK 8m (ABGSCe SEK 8m), up from SEK 7m in Q3'24. Although SaaS ACV is the most important KPI, S&amp;M ACV was SEK -2m due to some churn, which will impact S&amp;M sales in the coming quarters. Nonetheless, cost control was better than we anticipated, with adj. opex coming in 4% below our forecast.Positive earnings revisions due to lower opex assumptionsWe make small revisions to our sales forecasts (slightly lower assumptions for S&amp;M), but raise '26e-'27e EBIT by 29-28% on the back of lower opex assumptions as we extrapolate the lower-than-expected Q3 figure. We now anticipate ~10% organic growth per year over the coming years and an adj. EBITDA margin of 21% in 2027e, up from 13% in 2025e (pro forma).Potential extraordinary dividendFormpipe will disclose more details on the outlook and management's thoughts on capital allocation in conjunction with the CMD in March. The divestment will give Formpipe an elevated cash position of SEK 764m in 2025, and we believe that an extraordinary dividend of SEK 11/share (~SEK 600m) could potentially come in 2026. Adjusting for the anticipated cash distribution, the valuation sits at 2.7x EV/sales in 2026e. For comparison, Nordic software peers are at a median of 3.6x.