Before the Growth

Conversation with the company

Hi all,

For 2026, I am trying to keep things very simple. I am trying to get to know simple and underfollowed businesses well. As the US has been picked over, I decided to switch my focus to other places like Sweden, Poland and most recently Japan.

Recently I talked to a Swedish company that is particularly interesting because it has a terrific board member, that is behind the turnaround in Cheffello. After researching Kolejkowo from Poland, which is a high growth story likely for many years to come, this company is interesting, because it is likely just before its inflection point. Until now, the company produced good results off one product. Going forward, they will have three products and the thesis is simple: this should drive growth if they can replicate the success of their core product. It is classic new product thesis. The first orders for the new product already came and it will be delivered in their strongest Q4.

We are talking about $23 million Swedish company. There are no write-ups on the name and the shares are extremelly illiquid. Average daily volume is just $14.000 and the company does not disclose much in the reports. I highlighted it here.