Sigicom shares
Unlisted company
A system from sensor to report
Sigicom’s business model is based on an integrated measurement system in which the company owns the entire chain, from sensor to web-based reporting. The INFRA system consists of wireless vibration and noise meters, geophones, accelerometers, hydrophones, air overpressure meters and data loggers, and is also used to measure dust, weather and crack formation. The instruments are connected to the web-based INFRA Net service, where customers manage projects, receive alerts via SMS and email when defined limit values are exceeded, and generate reports. Because both the hardware and software are developed in-house, the instruments can be controlled remotely and measurement data follows a single format throughout the project.
Two revenue categories: goods and services
Revenue is divided into two categories. Goods comprise sales of instruments and sensors. Services include the rental of measurement equipment, access to INFRA Net, as well as calibration, servicing and support. Since 2024, services have been the larger revenue category at Group level, providing a revenue base that follows the number of ongoing measurement projects rather than individual hardware transactions. The rental business — which targets temporary measurement projects and customers wishing to try the equipment before purchasing it — is operated in part through the wholly owned subsidiary Sigicom Rental AB.
Customers and markets
Customers include measurement consultants, contractors, mining and quarrying companies, and infrastructure owners, with published projects for COWI, Boliden and Efterklang, among others. Demand is driven by infrastructure investments and requirements to document vibration and noise from blasting, piling, tunnelling and heavy traffic. The business operates globally: Europe is the largest market, followed by North and South America, and the share of international sales continues to increase.
Growth through own companies and acquisitions
Growth is achieved both organically and through acquisitions. The company has expanded a network of wholly owned subsidiaries: the United States (2011), France (2013), the United Kingdom (2017), Canada (2021) and Denmark (2023). Sigicom B.V. in the Netherlands was added in 2024.
It has also acquired businesses: ETM Mätteknik and ETM Communication (2022), as well as AVA Monitoring (2024). During 2025, efforts have focused on integrating the acquired businesses and realising synergies. The company continuously invests in the development of instrument platforms and digital measurement systems, and has been certified under ISO 9001 and ISO 14001 since 2016.
Revenue model
Goods: instruments and sensors
Services: rental, INFRA Net, servicing
Services largest since 2024
Characteristics
Own chain: sensor to report
Rental through own subsidiary
Six countries, Europe largest
Growth organically and through acquisitions
Financial performance
Published 20 August 2026Published figures from the company’s own reports. Amounts in MSEK · change from the previous year
- Cash and bank 2025-12-31
- 40MSEK
- Operating cash flow
- 29MSEK
- Net sales
- 266MSEK
- Equity ratio
- 77.6%
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Net sales | 266(+7.6 %) | 247(+21.5 %) | 203(+7.9 %) | 188 |
| Revenue growth | 7.6%(-13.9 pp) | 21.5%(+13.6 pp) | 7.9% | – |
| EBITDA | 34(-38.5 %) | 55(+60.7 %) | 34(+11.6 %) | 31 |
| EBIT | 7.5(-79.2 %) | 36(+64.3 %) | 22(+4.1 %) | 21 |
| Net income | -0.6(-103.2 %) | 20(+35.4 %) | 15(-1 %) | 15 |
| Equity | 158(-6.7 %) | 169(+33.7 %) | 126(+12.9 %) | 112 |
| Cash and bank | 40(-4.6 %) | 42(+26.6 %) | 33(-6.2 %) | 36 |
| Operating cash flow | 29(-47.4 %) | 54(+811.9 %) | 6(-60.7 %) | 15 |
| Equity ratio | 77.6%(+6.6 pp) | 71.1%(-10.3 pp) | 81.4%(+7.2 pp) | 74.2% |
Documents and reports
4New share issues
Latest 1An overview of the company’s capital raising.
| Date | Capital raised | Valuation |
|---|---|---|
| SEK 10m | SEK 410m |
Questions about Sigicom
Is Sigicom publicly listed?
No, Sigicom is not publicly listed. Sigicom is a public limited company — a legal form, not a listing — and Sigicom shares are instead traded on the unlisted market.
What does Sigicom do?
Sigicom is a Swedish measurement technology company that develops and manufactures systems for monitoring environmental impact. The company’s INFRA system measures vibrations, noise and other environmental disturbances at construction, infrastructure and mining projects, with measurement data collected in the web-based INFRA Net service.
Can I buy shares in Sigicom?
Yes, it is possible to buy Sigicom shares through trading in unlisted shares, provided there are sellers. Through Eqvor, you can place a buy order and be matched with sellers in the unlisted market.
How do I sell shares in Sigicom?
If you own shares in Sigicom, you can place a sell order via Eqvor and be matched with buyers. Once the transaction has been completed, the shares are transferred in accordance with the company’s Euroclear-connected custody structure.
Is Sigicom affiliated with Euroclear?
Yes, Sigicom is affiliated with Euroclear. This means that the shares are handled within the Swedish securities system and can be delivered to a custody account with any bank or investment firm once the transaction has been completed.
Can I hold Sigicom shares with Avanza or Nordnet?
Yes, since Sigicom is affiliated with Euroclear, the shares can normally be held in a securities account with, for example, Nordnet or Avanza, provided that the bank or online broker supports the custody of unlisted shares.
Does Sigicom have any right-of-first-refusal or pre-emption clauses?
No, Sigicom shares are not subject to any right-of-first-refusal or pre-emption clauses. This means that shares in Sigicom can normally be resold to an external buyer without first being offered to existing shareholders.
At what price is the Sigicom share traded?
Since Sigicom is not publicly listed, there is no official stock market price for the Sigicom share on a regulated marketplace. Instead, the price is determined by supply and demand between buyers and sellers in the unlisted market.
Has Sigicom carried out any share issues?
Yes, Sigicom has carried out capital raises and previous new share issues. Sigicom's Capital raised is stated as SEK 22.6 million, indicating how much capital the company has raised through previous financing.
When will Sigicom be listed on the stock exchange?
There is currently no publicly announced timetable for a stock exchange listing of Sigicom. We therefore do not currently know when Sigicom may be listed or whether the company will carry out an IPO.
What are the risks of investing in Sigicom?
Investing in Sigicom involves risk, just like other investments in unlisted shares. Sigicom sells measurement systems for construction, infrastructure and mining projects, and its operations may be affected by economic conditions and the pace of investment, global supply chains, tariffs and exchange rates, as well as competition, technological developments and the integration of completed acquisitions. Trading in unlisted shares also normally entails lower liquidity than trading in listed shares.
Where can I find Sigicom's annual report?
Sigicom's annual report can be found under Investor Relations and Financial Reports. Sigicom's annual reports are available there for download.
How much capital has Sigicom raised in total?
Sigicom’s Capital raised is stated as SEK 22.6 million. An equity raise is a term for raising capital, while terms such as funding round, financing or share issue are most commonly used to describe the rounds Sigicom has completed.
Has Sigicom reported a profit or a loss?
Sigicom reports a loss in the latest available information. Under Key Figures, Sigicom's net income is stated as SEK -638 thousand for 2025, while Sigicom's net sales increased to SEK 266,087 thousand.