Creturner Group AB (publ) CRET

NGM | Technology | AI/HPC computing and biochar carbon removal
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Updated: 16 Sep 2026 Base analysis: 30 Aug 2026

The news check keeps the assessment current.

General analysis — not personal advice.

SELL Clear

Existing positions should be reviewed pending the Q2 report and financing update.

Continued losses, extremely low cash and high dilution risk justify the reduce signal.

Market sentiment Negative ↓
Trend: Declining

The market is dominated by concerns over liquidity and dilution despite some curiosity around the AI pivot.

Risk assessment High
Dilution: High Cash below 0.1 MSEK and ongoing losses
Jurisdiction: Low Operations and listing in Sweden
Execution: High Radical pivot without proven scalability
Cash flow: 1 mo

SELL is the call. Negative is the market mood. High risk means a lot can go wrong.

Latest change
  • 1 Sep 2026 — The report shows continued large losses and low cash despite marginal revenue growth, driven by the ongoing AI transition.

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About the company

Creturner Group AB operates high-performance computing facilities focused on AI workloads. The company has deprioritized its original biochar-based permanent carbon removal business. Operations are based in Sweden and the shares are listed on NGM Nordic SME.

Sector: AI/HPC computing and biochar carbon removal
Type: Tech
Next report (Q3)
30 Nov 2026
Bull case

A successful transition to AI/HPC can deliver high margins and new revenues if capital is secured.

Bear case

Extremely low cash and ongoing revenue decline risk dilution or insolvency.

Sensitivity analysis
Factor If it weakens If it strengthens
AI/HPC contract growth Lack of new contracts → continued revenue decline and faster cash burn. Several new AI customers → higher utilization and improved cash-flow outlook.
Financing solution 2026 Failed capital raise → insolvency risk within months. Secured financing on reasonable terms → ability to scale HPC operations.
Why this signal

Continued losses, extremely low cash and high dilution risk justify the reduce signal.

Recent news
  • No new press releases, reports or company-specific events have been published after the Q2 report on 31 August 2026. The company continues to prioritize the AI business and is negotiating structural financing.

Key figures

Revenue
Q2 2026
SEK 3.3M
Revenue TTM
TTM
SEK 8.0M
EBITDA
Q1 2026
SEK -0.5M
Net income
Q2 2026
SEK -6.9M
Cash
Q2 2026
SEK 0.2M
Total debt
Q1 2026
SEK 5.0M
Gross margin
Q2 2026
90.0%
Exchange
NGM
Type
Technology
Sector
AI/HPC computing and biochar carbon removal
Creturner Group AB (publ) CRET
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