Greater Than AB

GREAT.ST

Software - Application · Technology

Price

kr 9.58

-0.08 (-0.83%)

Market Cap

kr 147.7M

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+12.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 12.6M (2021) → 14.1M (2025)

Winston Score History

The full picture

Greater Than AB is a Swedish software company that analyzes how people drive cars. It uses artificial intelligence to study driving behavior — things like speed, braking, and cornering — and turns that data into risk scores. Its main customers are insurance companies that use these scores to set premiums for drivers, a model known as usage-based insurance (UBI).

The company earns revenue by licensing its AI platform to insurers and fleet operators, primarily in Europe and North America. Greater Than is small, with a market cap around $100 million, and its edge comes from its proprietary driving data and the algorithms built from years of training on that data. However, the company is deeply unprofitable, with a gross margin well below zero, meaning it currently costs more to deliver its service than it earns — the central risk is whether it can scale revenue fast enough to reach sustainable unit economics before running out of capital.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-26.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+14.6% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

kr 0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

50.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~5 months

kr 17M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Greater Than AB has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

-978.2%

Thin — -978.2% gross margin

Profit after running costs

Operating Margin

-1128.2%

Losing money on operations — -1128.2%

Return on the money invested

ROCE

-87.6%

Weak — -87.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-74.6%

Shrinking sales (-74.6% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-928.6%

Burning cash (-928.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.03

Conservative — low debt load (0.03)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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