The company has issued more shares over this period, which dilutes each existing shareholder’s stake.
Diluted shares outstanding: 27.8M (2021) → 162.4M (2025)
Irisity AB (publ) is a Swedish company specializing in AI-powered video analytics solutions, operating both domestically and internationally. Through its IRIS platform, offered as Security-as-a-Service (SaaS), it delivers advanced AI video analytics. Its software empowers conventional security cameras, turning them into intelligent detection devices that also ensure personal privacy protection. The company's solutions cater to a broad spectrum of industries and applications, such as critical infrastructure, transportation, education, public safety (including smart cities), construction, healthcare, logistics, industrial sites, agriculture, and alarm monitoring services. Established in 2006 as Mindmancer AB, the company rebranded to Irisity AB (publ) in August 2017 and is headquartered in Gothenburg, Sweden.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
+16.4% YoY
YoY Growth Rate
Steady revenue growth
+76.7% YoY
YoY Growth Rate
EPS growth accelerating
kr 81M/ year
→ Flat (+0% vs prior year)
93.7% of revenue
6.2x the sector average (15%)
Steady R&D investment year-over-year
~1 months
kr 2M cash & investments
Quarterly Free Cash Flow
↑ Burn rate improving
Short runway — potential dilution ahead through share issuance
Irisity AB (publ) 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.
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Negative ROIC means the business is losing money on every dollar invested in it.
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Free cash flow is negative. They are burning cash, not generating it.
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