BYNO

MKT CAP:$88M

byNordic Acquisition Corporation

Market Cap

$88M

Financial Services·Shell Companies·🇸🇪 Sweden·NASDAQ

Financials·Shell Companies·🇸🇪·NASDAQ

Stock Price

$12.65+$0.16 (+1.28%)

Apr 21, 2026

Company Details

byNordic Acquisition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in ...

CEO

Michael Hermansson

IPO Date

Apr 5, 2022

Website

www.bynordic.se

Key Metrics TTM

Revenue

$1M

— YoY

Net Income

-$739.8K

EPS (Diluted)

-$0.18

Free Cash Flow

-$3M

Revenue / Share

$1.94

Gross Margin

50.0%

Operating Margin

24.0%

Net Margin

-54.7%

FCF Margin

-211.6%

P/S

65.3x

P/E

—

Earnings Reports

Q3 2025

Nov 12, 2025

$0EPS -$0.03

Q2 2025

Aug 19, 2025

$0EPS -$0.02

Q1 2025

May 15, 2025

$0EPS -$0.07

Q4 2024

Mar 31, 2025

$1MEPS -$0.07

Q3 2024

Nov 14, 2024

$0EPS -$0.02

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$0	-$66.3K	-$11.4K
Q1 22	$0	-$77.3K	-$272.0K
Q2 22	$0	-$75.1K	-$298.0K
Q3 22	$0	-$72.2K	-$228.0K
Q4 22	$0	-$348.0K	-$309.0K
Q1 23	$0	-$291.0K	-$515.0K
Q2 23	$0	-$190.0K	-$376.0K
Q3 23	$0	-$323.0K	-$107.1K
Q4 23	$0	-$69.6K	-$103.0K
Q1 24	$0	-$152.0K	-$178.6K
Q2 24	$0	-$183.0K	-$351.0K
Q3 24	$0	-$341.0K	-$491.0K
Q4 24	$1M	$676.7K	$1M
Q1 25	$0	$0	-$283.0K
Q2 25	$0	$0	-$242.9K
Q3 25	$0	$0	-$323.0K

Valuation

Quarter	P/S	P/E
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	76.2x
Q1 23	—	35.7x
Q2 23	—	21.8x
Q3 23	—	19.9x
Q4 23	—	25.9x
Q1 24	—	36.0x
Q2 24	—	77.4x
Q3 24	—	403.4x
Q4 24	65.3x	—
Q1 25	65.3x	—
Q2 25	65.3x	—
Q3 25	65.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	-$50.0K	-$50.0K
Q1 22	-$607.5K	-$607.5K
Q2 22	-$79.7K	-$79.7K
Q3 22	-$62.1K	-$62.1K
Q4 22	-$87.3K	-$87.3K
Q1 23	-$561.2K	-$561.2K
Q2 23	-$1M	-$1M
Q3 23	-$795.5K	-$795.5K
Q4 23	-$466.7K	-$466.7K
Q1 24	-$237.5K	-$237.5K
Q2 24	-$472.0K	-$472.0K
Q3 24	-$390.3K	-$390.3K
Q4 24	-$2M	-$2M
Q1 25	-$532.2K	-$532.2K
Q2 25	-$180.3K	-$180.3K
Q3 25	-$220.0K	-$220.0K

Capital Expenditures

Quarter	CapEx
Q4 21	$0
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$3
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	—	+7476.0%
Q1 22	—	+181433.3%
Q2 22	—	+169.8%
Q3 22	—	+152100.0%
Q4 22	—	+2619.1%
Q1 23	—	+89.3%
Q2 23	—	+26.2%
Q3 23	—	-53.0%
Q4 23	—	-66.7%
Q1 24	—	-65.3%
Q2 24	—	-6.6%
Q3 24	—	+358.6%
Q4 24	—	+74.7%
Q1 25	—	+58.5%
Q2 25	—	-30.8%
Q3 25	—	-34.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$0	—
Q1 22	$0	—
Q2 22	$0	—
Q3 22	$0	—
Q4 22	$0	—
Q1 23	$0	—
Q2 23	$0	—
Q3 23	$0	—
Q4 23	$0	—
Q1 24	$0	—
Q2 24	$0	—
Q3 24	$0	—
Q4 24	$0	0.0%
Q1 25	$0	—
Q2 25	$0	—
Q3 25	$0	—

OpEx Breakdown

Quarter	G&A
Q4 21	$11.4K
Q1 22	$57.9K
Q2 22	$156.2K
Q3 22	$91.1K
Q4 22	$119.9K
Q1 23	$118.0K
Q2 23	$118.9K
Q3 23	$46.9K
Q4 23	$46.9K
Q1 24	$74.7K
Q2 24	$94.6K
Q3 24	$98.4K
Q4 24	$97.1K
Q1 25	$91.3K
Q2 25	$30.0K
Q3 25	$30.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$631	$0	$631
Q1 22	$1M	$0	$1M
Q2 22	$1M	$0	$1M
Q3 22	$1M	$0	$1M
Q4 22	$936.1K	$0	$936.1K
Q1 23	$570.1K	$0	$570.1K
Q2 23	$1M	$0	$1M
Q3 23	$923.4K	$0	$923.4K
Q4 23	$2M	$0	$2M
Q1 24	$2M	$0	$2M
Q2 24	$2M	$0	$2M
Q3 24	$2M	$0	$2M
Q4 24	$272.6K	$0	$272.6K
Q1 25	$269.5K	$0	$269.5K
Q2 25	$220.3K	$0	$220.3K
Q3 25	$244.0K	$0	$244.0K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	18M	+19.2%	+19.2%
Q1 22	15M	-16.1%	-0.0%
Q2 22	18M	+20.7%	+20.7%
Q3 22	24M	+31.6%	+58.8%
Q4 22	24M	0.0%	+33.3%
Q1 23	24M	0.0%	+58.8%
Q2 23	24M	0.0%	+31.6%
Q3 23	17M	-28.5%	-28.5%
Q4 23	13M	-23.9%	-45.6%
Q1 24	10M	-21.1%	-57.1%
Q2 24	10M	0.0%	-57.1%
Q3 24	9M	-11.7%	-47.0%
Q4 24	3M	-71.0%	-79.8%
Q1 25	3M	0.0%	-74.4%
Q2 25	1M	-61.8%	-90.2%
Q3 25	697K	-30.8%	-92.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$0	5
Q1 22	$0	5
Q2 22	$0	5
Q3 22	$0	5
Q4 22	$0	5
Q1 23	$0	5
Q2 23	$0	5
Q3 23	$0	5
Q4 23	$0	5
Q1 24	$0	5
Q2 24	$0	5
Q3 24	$0	5
Q4 24	$84.6K	16
Q1 25	$0	16
Q2 25	$0	16
Q3 25	$0	16

Revenue / Employee