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Crunchfish
Crunchfish is a software company headquartered in Malmö, Sweden. The company conducts development primarily in two main areas: digital cash and gesture control of electronic devices. In digital cash, the company has patented a solution that makes it possible to pay in real time with mobile devices regardless of whether the device has internet connection or not. The company has been listed on Nasdaq First North Growth Market since November 2016 (ticker: CFISH).
Share price
Company information
0.701 SEK
-92.66% (-8.85 SEK)
Analysts
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Initial analysis
Research updates
Crunchfish: 2025 - time to deliver
2025-02-18
Following our last comment, we still await Crunchfish’s commercial breakthrough. The company is in discussions with several Indian counterparties, including the Reserve Bank of India (RBI), the National Payments Corporation of India, major banks and digital wallet providers. The RBI is currently upgrading the Digital Rupee to a value-based token system, starting with online payments. We believe the discussions will advance once the parties start to focus on the offline part of the upgrade. According to the report, this will take place in Q2. This has led us to lower our sales forecast near-term, leading to an adjustment of our fair value to SEK 5.88 (7.42) per share.
Crunchfish: Awaiting commercial break-through
2024-12-04
After evaluating different funding options, Crunchfish conducted a preferential rights issue in November 2024 raising a gross of MSEK 26. With short-term funding secured, the company can focus on its eight potential revenue streams highlighted in the Q3 report. These include the agreement with IDFC First Bank in India, discussions with the National Payments Corporation of India, and digital wallet providers. The company has also decided to close its Gesture Interaction business after efforts to divest it. Given the future revenue prospects, forecasting lower costs, accounting for the financial risk, and adjusting for dilution, our model suggests a fair value of SEK 7.42 per share.
Crunchfish: Considering strategic options
2024-08-30
During the second quarter, Crunchfish entered a collaboration with Tata Consulting Services with the potential for greater global reach. The company is also engaged in activities with a leading payment service provider. The capital need is becoming increasingly relevant and the company is considering new financing solutions. Crunchfish reported net sales of MSEK 0.43 million and an operating loss of MSEK 5.9 million. We maintain our fair value at SEK 12.70 per share.