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Buy reports

This is where the full cases live – deep-dive reports built from financial analysis, valuation work, and a strategic perspective. They cover the whole picture: business model, fundamentals, risks, catalysts, and variant views.

Buy report

Sep 30, 2025

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2 min read

Sleep Cycle (SLEEP): Wake-up Call

Buy report on Sleep Cycle.

Kristoffer Lindström

Buy report

Embracer Group (EMBRACB) - Coffee Stain Spin-off Poised to Unlock SEK 9bn in Hidden Value

Aug 23, 2025

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3 min read

Embracer Group (EMBRACB) - Coffee Stain Spin-off Poised to Unlock SEK 9bn in Hidden Value

We are adding EMBRACB to our conviction list; investment memo inside.

Kristoffer Lindström

Buy report

Physitrack PLC (PTRK): Severely Mispriced Opportunity in an Overlooked Nordic Microcap

May 27, 2025

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4 min read

Physitrack PLC (PTRK): Severely Mispriced Opportunity in an Overlooked Nordic Microcap

Investment case write-up

Kristoffer Lindström

Buy report

Embracer (EMBRACB): KC:D2 market expectations and data indications

Jan 30, 2025

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3 min read

Embracer (EMBRACB): KC:D2 market expectations and data indications

We have compiled the available data on Steam followers, search interest, top seller chart and compared it to the KC:D1 release

Kristoffer Lindström

Buy report

[Research report] - BETCO: Betting on the Wrong Strategy

Oct 25, 2024

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4 min read

[Research report] - BETCO: Betting on the Wrong Strategy

Negative case on BETCO - It still holds

Kristoffer Lindström

Updates

Follow-ups on existing cases. Shorter than complete reports, but focused on what has changed – new earnings, management actions, industry shifts – and how that impacts our thesis and valuation.

Update

Aug 1, 2025

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3 min read

PTRK: Road to Value

Research update on PTRK following the Q2'25 report.

Kristoffer Lindström

Update

Better Collective (BETCO): Soft Guidance and Uncertainty

Feb 21, 2025

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10 min read

Better Collective (BETCO): Soft Guidance and Uncertainty

The most important new information in the Q4 report was related to the guidance for 2025 and beyond. Overall, management expects a flat development during the year, burdened by the Brazilian market. We see both risks and uncertainty ahead.

Kristoffer Lindström

Update

Better Collective (BETCO): There Is Still Risk on The Downside

Feb 14, 2025

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15 min read

Better Collective (BETCO): There Is Still Risk on The Downside

We urge caution, as the risks presently outweigh the potential, at least in our opinion.

Kristoffer Lindström

Notes

More structured than a quick mention, but not as comprehensive as a whole case. Notes are focused on a specific angle, event, or valuation setup that deserves closer attention.

Note

Physitrack (PTRK): European Insurer Deal Extends MSK Reach

Sep 26, 2025

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3 min read

Physitrack (PTRK): European Insurer Deal Extends MSK Reach

MSK-deal opens a new pathway.

Kristoffer Lindström

Note

Embracer Group (EMBRACB): Value Creative Buybacks

Sep 18, 2025

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6 min read

Embracer Group (EMBRACB): Value Creative Buybacks

Spin-off, insider buying, and now a buyback program.

Kristoffer Lindström

Note

Physitrack (PTRK) - Overhang Lifted, Path to Fair Value Clears

Aug 26, 2025

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2 min read

Physitrack (PTRK) - Overhang Lifted, Path to Fair Value Clears

No more wet blanket.

Kristoffer Lindström

Note

Better Collective (BETCO) - July Traffic Tracker Update

Aug 18, 2025

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3 min read

Better Collective (BETCO) - July Traffic Tracker Update

Traffic decline accelerating.

Kristoffer Lindström

Note

Better Collective (BETCO): Continued Traffic Weakness for Q2

Jul 25, 2025

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12 min read

Better Collective (BETCO): Continued Traffic Weakness for Q2

Estimates of website traffic to BETCO's websites show weakness, but the market does not seem to have noticed it.

Kristoffer Lindström

Note

Physitrack (PTRK): What We Hope to See in the Q2 Report

Jul 17, 2025

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7 min read

Physitrack (PTRK): What We Hope to See in the Q2 Report

Physitrack (PTRK) is scheduled to release its report for the second quarter of 2025 on July 24. In this note, we outline the key points we will focus on when reviewing the report.

Kristoffer Lindström

Embracer Group

More structured than a quick mention, but not as comprehensive as a whole case. Notes are focused on a specific angle, event, or valuation setup that deserves closer attention.

Note

Sep 26, 2025

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3 min read

Physitrack (PTRK): European Insurer Deal Extends MSK Reach

MSK-deal opens a new pathway.

Kristoffer Lindström

Note

Sep 18, 2025

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6 min read

Embracer Group (EMBRACB): Value Creative Buybacks

Spin-off, insider buying, and now a buyback program.

Kristoffer Lindström

Note

Aug 26, 2025

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2 min read

Physitrack (PTRK) - Overhang Lifted, Path to Fair Value Clears

No more wet blanket.

Kristoffer Lindström

Note

Aug 18, 2025

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3 min read

Better Collective (BETCO) - July Traffic Tracker Update

Traffic decline accelerating.

Kristoffer Lindström

Note

Jul 25, 2025

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12 min read

Better Collective (BETCO): Continued Traffic Weakness for Q2

Estimates of website traffic to BETCO's websites show weakness, but the market does not seem to have noticed it.

Kristoffer Lindström

Note

Jul 17, 2025

•

7 min read

Physitrack (PTRK): What We Hope to See in the Q2 Report

Physitrack (PTRK) is scheduled to release its report for the second quarter of 2025 on July 24. In this note, we outline the key points we will focus on when reviewing the report.

Kristoffer Lindström

LATEST RESEARCH REPORTS & COMMENTS

Date

Report

Subject

9/30/2025

Sleep Cycle (SLEEP): Wake-up Call

9/26/2025

Physitrack (PTRK): European Insurer Deal Extends MSK Reach

9/18/2025

Embracer Group (EMBRACB): Value Creative Buybacks

9/2/2025

Discovery report #15

8/29/2025

Introducing: The Conviction List

8/26/2025

Physitrack (PTRK) - Overhang Lifted, Path to Fair Value Clears

8/23/2025

Embracer Group (EMBRACB) - Coffee Stain Spin-off Poised to Unlock SEK 9bn in Hidden Value

8/18/2025

Better Collective (BETCO) - July Traffic Tracker Update

8/4/2025

Discovery report #15

8/1/2025

PTRK: Road to Value

Equity Research to Your Inbox

Never miss an opportunity

Buy reports

Sleep Cycle (SLEEP): Wake-up Call

Embracer Group (EMBRACB) - Coffee Stain Spin-off Poised to Unlock SEK 9bn in Hidden Value

Physitrack PLC (PTRK): Severely Mispriced Opportunity in an Overlooked Nordic Microcap

Embracer (EMBRACB): KC:D2 market expectations and data indications

[Research report] - BETCO: Betting on the Wrong Strategy

Updates

PTRK: Road to Value

Better Collective (BETCO): Soft Guidance and Uncertainty

Better Collective (BETCO): There Is Still Risk on The Downside

Notes

Physitrack (PTRK): European Insurer Deal Extends MSK Reach

Embracer Group (EMBRACB): Value Creative Buybacks

Physitrack (PTRK) - Overhang Lifted, Path to Fair Value Clears

Better Collective (BETCO) - July Traffic Tracker Update

Better Collective (BETCO): Continued Traffic Weakness for Q2

Physitrack (PTRK): What We Hope to See in the Q2 Report

Embracer Group

Physitrack (PTRK): European Insurer Deal Extends MSK Reach

Embracer Group (EMBRACB): Value Creative Buybacks

Physitrack (PTRK) - Overhang Lifted, Path to Fair Value Clears

Better Collective (BETCO) - July Traffic Tracker Update

Better Collective (BETCO): Continued Traffic Weakness for Q2

Physitrack (PTRK): What We Hope to See in the Q2 Report

LATEST RESEARCH REPORTS & COMMENTS

Sleep Cycle (SLEEP): Wake-up Call

Physitrack (PTRK): European Insurer Deal Extends MSK Reach

Embracer Group (EMBRACB): Value Creative Buybacks

Discovery report #15

Introducing: The Conviction List

Physitrack (PTRK) - Overhang Lifted, Path to Fair Value Clears

Embracer Group (EMBRACB) - Coffee Stain Spin-off Poised to Unlock SEK 9bn in Hidden Value

Better Collective (BETCO) - July Traffic Tracker Update

Discovery report #15

PTRK: Road to Value

Lind Research