Spiideo shares
Unlisted company
Spiideo sells an end-to-end sports video system: fixed and portable AI cameras that record without a camera operator, connected to a cloud platform where the footage is analyzed, shared, and broadcast.
Three product areas
Spiideo Perform is the video analysis tool for coaches, analysts, and players. Spiideo Play is an automated production solution for live broadcasts. Spiideo Replay provides referees with replays from multiple camera angles. Replay was launched in 2024 and has gained particularly strong traction in North American ice hockey.
How the company makes money
Revenue is primarily derived from subscriptions. Of the Group’s net sales of MSEK 200 in 2025, MSEK 164 came from subscription revenue, an increase of 40 percent from the previous year, and MSEK 33 from product sales. Overall, net sales grew by 22 percent. The automated broadcasts enable media rights holders to produce and monetise thousands of matches.
Customers and market
Customers can be found at every level: leagues, federations, rights holders, clubs, universities and schools. North America is the company’s largest market. There, Spiideo provides video and replays to the OHL and USHL ice hockey leagues, among others, as well as to several college conferences. In 2025, the region accounted for MSEK 101, approximately half of net sales. This was followed by Europe at MSEK 64, Sweden at MSEK 20 and the rest of the world at MSEK 15.
Product areas
Spiideo Perform (video analysis)
Spiideo Play (automated broadcasts)
Spiideo Replay (referee replays)
Characteristics of the business model
AI cameras without a camera operator
Cloud-based platform
82 percent subscription revenue
Customers from elite to youth
Net sales 2025
MSEK 200 (+22%)
Financial performance
Published 21 October 2026Published figures from the company’s own reports. Amounts in MSEK · change from the previous year
- Cash and bank 2025-12-31
- 53MSEK
- Burn rate
- 3.2MSEK/mo
- Runway
- 16mo
- Equity ratio
- 48%
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Net sales | 200(+21.7 %) | 164(+39.4 %) | 118 | – |
| Revenue growth | 21.7%(-17.6 pp) | 39.4% | – | – |
| EBITDA | -33 | -17 | -59 | – |
| EBIT | -58 | -33 | -70 | – |
| Net income | -59 | -38 | -72 | – |
| Equity | 124(-31.4 %) | 181(+2,513.3 %) | 6.9 | – |
| Cash and bank | 53(-66.1 %) | 156(+403.7 %) | 31 | – |
| Operating cash flow | -39 | -47 | -57 | – |
| Equity ratio | 48%(-14 pp) | 62%(+57 pp) | 5%(-16 pp) | 21% |
Documents and reports
2New share issues
Latest 1An overview of the company’s capital raising.
| Date | Capital raised | Valuation |
|---|---|---|
| SEK 23m | SEK 1bn |
Questions about Spiideo
Is Spiideo publicly listed?
No, Spiideo is a private limited company and is not publicly listed. Its shares are therefore not traded on a regulated stock exchange, but on the unlisted market.
What does Spiideo do?
Spiideo develops automated video systems for sports. AI-powered cameras record without a camera operator, and the footage is used in a cloud platform for video analysis, live streaming, and referee replays. Its customers include leagues, federations, rights holders, clubs, and schools.
Can I buy shares in Spiideo?
Yes, it is possible to buy shares in Spiideo through unlisted share trading, provided that 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 Spiideo?
If you own shares in Spiideo, you can place a sell order through Eqvor and be matched with buyers. When a buyer and seller are matched, the transaction is completed and the change of ownership is recorded in the company’s share register in accordance with the company’s current procedures.
Is Spiideo affiliated with Euroclear?
No, Spiideo is currently not affiliated with Euroclear. This means that the shares are registered directly in the company's share register and not through the Swedish securities system.
Can I hold Spiideo shares with Avanza or Nordnet?
Since Spiideo is not affiliated with Euroclear, the shares normally cannot be held in a standard custody account with Avanza or Nordnet. Instead, ownership is registered directly in the company’s share register.
Does Spiideo have any right-of-first-refusal or pre-emption provisions?
Any right-of-first-refusal or pre-emption provisions are set out in Spiideo’s articles of association. Such terms may mean that a share transfer must be handled in accordance with specific rules before the shares are resold to an external buyer.
At what price is the Spiideo share traded?
Since Spiideo is not listed on a stock exchange, there is no official share price on a regulated marketplace. Instead, the price is determined by supply and demand among buyers and sellers in the unlisted market.
When will Spiideo be listed on the stock exchange?
Spiideo has not communicated any plan or timeline for a stock market listing. We therefore do not currently know whether or when the company may carry out an IPO.
What are the risks of investing in Spiideo?
Investing in Spiideo involves risk, just like other investments in unlisted shares. The company’s valuation may be affected by competition, demand from sports organisations and rights holders, technological developments in AI and video, international expansion, currency fluctuations, and the company’s capital requirements. Trading in unlisted shares also typically involves lower liquidity than trading in listed shares.
Where can I find Spiideo's annual report?
Spiideo's annual report is filed with the Swedish Companies Registration Office (Bolagsverket). The annual reports available on Eqvor can be found under Reports and documents on the company page.
Has Spiideo carried out any share issues?
Yes, Spiideo has carried out several new share issues since 2014, most recently in April 2026. Spiideo's Capital raised is stated as SEK 429.9 million, which shows how much capital the company has raised in its funding rounds.
How much capital has Spiideo raised in total?
Spiideo's Capital raised is stated as SEK 429.9 million. An equity raise is an English term for raising capital, but in Swedish, terms such as funding round, financing or new share issue are more commonly used.
Has Spiideo reported a profit or a loss?
Spiideo reports a negative result in its latest annual report. For 2025, the Group's net sales amounted to SEK 200.1 million, and the result for the year was SEK −58.7 million.