[Idea note] - cBrain: Government Digitization Leader Set to Benefit from Regulatory Tailwinds

Idea note

This is an Idea note; It’s a collection of early signals – companies mentioned in fund letters, blogs, or by sharp investors online. Not a full pitch, just a starting point for ideas that might be worth a more in-depth look.

Danish Software Champion Positioned to Capture Global COTS Government Market

Idea source: Lannebo Teknik Småbolag

Price: 192.8 DKK (2025-06-17)

cBrain A/S (CBRAIN:CPH) develops standardized software solutions for government digitization with its flagship F2 platform, listed on Nasdaq Copenhagen in the technology sector.

Ticker: CBRAIN | Timeframe: 18-24 months | 📈 Growth

• Setup: cBrain’s F2 platform serves as the digital backbone for 21 Danish government departments, providing a proven solution for case management, email communication, and AI-assisted work across the public sector.

• Latest Development: The US government has recently signed a presidential order prioritizing cost-effective software procurement for federal agencies, directly benefiting cBrain’s commercial off-the-shelf (COTS) approach.

• Reason for Mispricing: Market appears to underappreciate cBrain’s transition from a Denmark-focused provider to a global player in the growing COTS government software market.

• Timing: cBrain is extending its growth strategy in 2025 to focus on two global solution niches: Paperless Ministry and Environmental Permitting.

• Value Catalysts: Accelerating shift toward COTS government software, international expansion beyond Denmark, and growing adoption of AI features within the F2 platform..

• Upside Potential: 15-20% annual revenue growth potential as international expansion accelerates and US government procurement reforms create new opportunities.

• Risks: High valuation multiples create vulnerability to growth disappointments, international expansion execution challenges, and competitive pressure in new markets .