cBrain A/S
Denmark · owned by Independent (Denmark) · cbrain.com · 21 vendors
cBrain is a Danish software company that develops F2, a standard software for digitalizing administration for government and public sector organizations.
Resilience scores
- Digital Sovereignty: 5
- Digital Resilience: 9
- Financial Resilience: 8.5
Technology vendors
- Adobe Inc. — Technology — United States
- EY — United Kingdom
- PlanetScale, Inc. — Technology — United States
- and 18 more
Services catalogue
3 services in catalogue across 2 categories; runs on 21 sub-vendors.
- Artificial Intelligence
- Citizen Portals & Self-Service
- F2
Insights
Last updated 2026-09-13 · revision 14
21 direct vendors, 228 subvendors
Direct vendors by controlling owner country (sample)
- Japan: 2
- Australia: 1
- United Kingdom: 2
Subvendors by controlling owner country (sample)
- Poland: 1
- Israel: 1
- China: 10
Migration Readiness: 7/10
Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.
The company shows strong readiness due to its modern, cloud-centric tech stack (.NET on Microsoft Azure), which eliminates the friction associated with legacy on-premise hardware. Financial health is a major enabler, providing ample resources for transformation initiatives. However, readiness is tempered by significant vendor and regulatory complexity. The integration of 56 different services implies a complex dependency map that would be difficult to untangle or replicate in a new environment. Furthermore, strict regulatory obligations (NIS2, GDPR) and data residency requirements impose constraints on data mobility, requiring extensive validation during any migration process. The reliance on Azure also suggests a moderate-to-high level of platform lock-in.
Financials
Three-year financials
- 2025: revenue DKK 251M, EBIT DKK 58.7M, equity DKK 318M
- 2024: revenue DKK 268M, EBIT DKK 88.3M, equity DKK 289M
- 2023: revenue DKK 239M, EBIT DKK 85.4M, equity DKK 229M
Financial Resilience Score: 8.5/10
cBrain exhibits a very high degree of financial resilience, characterized by its debt-free status and robust profitability. The company operates with virtually no interest-bearing debt, self-funding its growth through strong operational cash flow, which insulates it from interest rate fluctuations and market volatility. With an EBIT margin consistently near 30%, the company generates substantial cash to absorb unexpected costs and invest in R&D. Its 'sticky' customer base in the public sector ensures high retention and predictable recurring revenue. The F2 platform becomes integral to client operations once implemented, providing high operating leverage. However, the high concentration in the Danish public sector remains a primary risk factor should local spending slow down, preventing a perfect score.
Key strengths: Debt-Free Operation, High Profitability and Cash Flow, Sticky Customer Base, Scalable Business Model
Risk factors: Geographical Concentration (Denmark), Customer Segment Concentration (Public Sector)
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