Litium AB Due Diligence

Run due diligence on Litium AB: check compliance and get alerts when suppliers or ownership change.

Sweden · owned by Independent (Sweden) · www.litium.com · 16 vendors

Litium AB is a Swedish software company that provides a scalable, cloud-based e-commerce platform (Litium Commerce Cloud) for both B2B and B2C companies. The platform integrates e-commerce, CMS, and PIM capabilities with headless and API-first architecture, serving 300+ customers across more than 150 markets worldwide. Headquartered in Stockholm, Litium is listed on Nasdaq First North Growth Market.

Resilience scores

Technology vendors

Services catalogue

2 services in catalogue across 2 categories; runs on 16 sub-vendors.

Insights

Last updated 2026-07-30 · revision 3

16 direct vendors, 219 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

7 in-scope frameworks identified; showing 3.

PCI DSS (source) — No public evidence

Evidence: https://www.litium.com/technology/reliability-security, https://www.litium.com/product/ecommerce

ISAE 3000 (source) — No public evidence

Evidence: https://www.litium.com/technology/reliability-security, https://www.litium.com/legal

ISO 27001 (source) — No public evidence

Evidence: https://www.litium.com/technology/reliability-security

Financials

Three-year financials

Financial Resilience Score: 7/10

Litium AB demonstrates strong balance sheet resilience with an equity ratio consistently around 84% and virtually no interest-bearing debt. The company achieved a milestone positive EBIT in FY2024 (+616 KSEK) after years of narrowing losses, though FY2025 returned to a small loss (-2,903 KSEK) primarily due to one-off costs from the Geins acquisition and a complete leadership refresh. Adjusting for these one-offs, management states 2025 EBIT exceeded 2024. Recurring SaaS revenue (ARR) reached 93.5 MSEK at year-end 2025, growing 17.8% YoY, providing stable and predictable cash flows with ~70% gross margins. Liquidity is adequate but modest: cash of 16.4 MSEK at end 2025 was bolstered by a successful, 128% oversubscribed rights issue raising 24.9 MSEK in Q4 2025. Operating cash flow was positive in both 2024 (15.8 MSEK) and 2025 (18.6 MSEK), and a 7 MSEK bank overdraft facility remains undrawn. Strong supportive shareholders (FastPartner 18.8%, Swedbank Robur, Aktia) provide capital access. Key vulnerabilities include the small absolute revenue base (~82 MSEK) which creates customer concentration risk, heavy reliance on capitalised R&D (93 MSEK of intangibles amortised over 7 years) that could face impairment, and execution risk integrating the Geins acquisition under new leadership. Listing on Nasdaq First North (junior venue) implies higher volatility. Overall, the combination of debt-free balance sheet, growing recurring revenue, and demonstrated ability to raise equity offsets the small scale and execution risks.

Key strengths: Very high equity ratio (~84%) and no interest-bearing debt, Recurring SaaS ARR grew to 93.5 MSEK (+17.8% YoY) with ~70% gross margins, Positive operating cash flow: 15.8 MSEK (2024) and 18.6 MSEK (2025), Successful Q4 2025 rights issue raised 24.9 MSEK (128% oversubscribed), Strong institutional shareholder base (FastPartner 18.8%, Swedbank Robur, Aktia), Enterprise-grade customer references (Lindex, Jollyroom, Toyota Material Handling, BE Group), Achieved first positive EBIT year in 2024, demonstrating path to profitability, Diversified 50/50 B2B/B2C customer mix

Risk factors: Small absolute revenue base (~82 MSEK) creates customer concentration risk, Returned to loss in 2025 due to acquisition and leadership change costs, Heavy reliance on capitalised development costs (93 MSEK) subject to impairment risk, 9.5 MSEK goodwill added from Geins acquisition requires future impairment testing, Modest cash position (~16 MSEK) provides limited headroom, Execution risk integrating Geins acquisition under new management team, Listed on Nasdaq First North Growth Market with lower liquidity and higher volatility, Exposure to Nordic B2C consumer weakness via variable transaction revenues, Complete leadership refresh in 2025 (new CEO, CFO, CCO, CTO) creates transition risk

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