CBRAIN A/S

CBRAIN

Equity

ISIN DK0060030286 / Valor 2453492

Nasdaq Copenhagen Equities (2026-08-28)

DKK 82.50+5.10%

CBRAIN A/S
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About company

CBRAIN A/S, listed on NASDAQ as CBRAIN, specializes in providing standard software solutions that cater to a wide range of business needs, including citizen self-service, case processing, knowledge management, filing, and compliance. The company's core offering is built around configurable process templates that can be tailored to specific business routines and requirements. These templates, which are stored in a process library and available as open source, allow for the design and configuration of new processes either from scratch or by modifying existing templates. This approach leverages best practice methods to ensure efficient and effective process management. Recently, CBRAIN has expanded its reach by signing an agreement with the Ministry of Innovation, Science and Technology in Nigeria to deliver a Proof of Concept (PoC) project, showcasing its capability to serve diverse and international markets.

Summarized from source with an LLMView SourceSector: Business Services

Revenue

Total revenue was DKK 268m (+12%). Software made up 78% of revenue (DKK ~210m, +11%) and services were DKK ~58m (+16%). International sales rose to DKK 90m (34% of revenue).

Profitability

EBT increased to DKK 86m (from DKK 81m), delivering a 32% EBT margin; EBIT was DKK 88m (33% EBIT margin). Basic EPS was DKK 3.24 and net profit DKK 64.8m.

Cash flow & investing

Cash flow from operations was DKK 67.9m. Cash flow from investing was negative DKK 47.4m, driven by DKK 23m capitalized development (F2) and DKK 24.6m in property investments (PPE). Year-end cash was DKK 22.3m.

Balance sheet & equity

Total assets DKK 392m and total equity DKK 288.5m (solvency ~74%). Book value per share was DKK 14.43.

Intangibles & product development

CBRAIN capitalized DKK 23m in development costs for the F2 platform in 2024; F2 Version 12 (released Nov 2024) triggered transfers from software under development to released software and subsequent amortization (release amortized over 5 years).

Debt & interest exposure

The group holds variable-rate mortgage borrowings totalling DKK 49m (18‑year loans with 6‑month rate fixing); scheduled repayments of DKK ~2m in the next 12 months. Management currently does not hedge interest rates.

Dividend & shareholder return

The board proposes a dividend of DKK 0.64 per share for 2024 (2023: DKK 0.28), equivalent to roughly DKK 13m total and a payout ratio of about 20% of profit for the year.

Outlook & strategy

CBRAIN guides 2025 revenue growth of 10–15% and an EBT margin (guidance) of 18–23%. Strategic focus remains on scaling internationally, promoting the F2-for-Partners model, and leveraging the COTS-for-government opportunity while selectively pacing market investments.

Summarized from source with an LLMView Source

Key figures

-56.5%1Y

-51.6%3Y

-80.3%5Y

Performance

49.3%1Y

53.4%3Y

54.5%5Y

Volatility