Netnod AB Due Diligence
Run due diligence on Netnod AB: check compliance and get alerts when suppliers or ownership change.
Sweden · owned by TU-stiftelsen (Stiftelsen för Telematikens utveckling) (Sweden) · www.netnod.se · 18 vendors
Netnod is a neutral, non-profit Swedish Internet infrastructure organisation that provides critical services including Internet Exchange (IX) operations, secondary DNS services, root name server operations (I-root), time services (NTP/PTP), and DWDM transport services. It operates the largest Internet Exchange in Northern Europe and has run i.root-servers.net since 2000, the first root server located outside the United States. Fully owned by the non-profit foundation TU-stiftelsen (Stiftelsen för Telematikens utveckling), Netnod reinvests its profits into building robust digital infrastructure for Sweden and beyond.
Resilience scores
- Digital Sovereignty: 17
- Digital Resilience: 7
- Financial Resilience: 7
Technology vendors
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- and 17 more
Services catalogue
3 services in catalogue across 3 categories; runs on 18 sub-vendors.
- DNS
- Internet exchange point services
- Netnod DNSNODE
Insights
Last updated 2026-08-19 · revision 12
18 direct vendors, 200 subvendors
Direct vendors by controlling owner country (sample)
- United States: 15
- Sweden: 2
- Belgium: 1
Subvendors by controlling owner country (sample)
- Poland: 2
- Switzerland: 1
- Israel: 1
Compliance
10 in-scope frameworks identified; showing 3.
ISAE 3000 (source) — No public evidence
Evidence: https://www.netnod.se/, https://www.iaasb.org/publications/international-standard-assurance-engagements-isae-3000-revised-assurance-engagements-other-audits
Cyber Resilience Act (source) — No public evidence
Evidence: https://www.netnod.se/netnod-and-internetstiftelsen-responds-to-the-eu-commissions-proposed-adoption-of-the-cyber-resilience-act, https://www.netnod.se/cybersecurity/netnod%27s-response-on-provisions-complementing-the-eu-cyber-resilience-regulation, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32024R2847
EECC — No public evidence
Evidence: https://www.netnod.se/netnod-responds-to-pts-proposals-on-the-implementation-of-the-european-code-of-electronic-communications-directive, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32018L1972, https://www.pts.se/en/
Financials
Three-year financials
- 2023:
- 2022:
- 2021:
Financial Resilience Score: 7/10
Netnod AB benefits from a highly stable ownership and mission structure via TU-Stiftelsen (Stiftelsen för Telematikens Utveckling), which removes shareholder dividend pressure and enables retention of earnings for reinvestment. This foundation-ownership model typically produces a strong equity base relative to revenue and low financial leverage, supporting resilience through economic cycles. The company operates critical Internet infrastructure including I-root (one of the 13 global DNS root servers), the largest IXPs in the Nordics, and Sweden's national time distribution service, generating sticky, long-tenure customer relationships with ISPs, TLD registries, and governments. Revenue is largely recurring and subscription-based (IX port fees, DNS anycast subscriptions, time-service contracts), and the company has a 20+ year track record of 100% DNS uptime, reinforcing brand strength. Public-sector alignment with PTS, RISE, and Swedish national digital resilience programs (Robusthetskollen, FORT training) provides steady demand and a reputational moat. However, Netnod is small in absolute size (historically low-hundreds of MSEK revenue), meaning single customer losses or capex cycles can materially move margins. Capex intensity is significant given ongoing equipment refresh cycles (100GE to 400GE and beyond) across multiple sites. Competitive pressure from larger European IXPs (DE-CIX, AMS-IX) and private peering / cloud on-ramps partly substitutes for public IX peering, and the non-profit mandate limits access to equity capital for large expansion since there is no IPO route available.
Key strengths: Foundation ownership (TU-Stiftelsen) removes dividend pressure and enables earnings retention, Critical-infrastructure position operating I-root DNS server and largest Nordic IXPs, Recurring subscription-based revenue model across IX, DNS, and time services, Long-standing public-sector alignment with PTS and Swedish national digital resilience, 20+ years of 100% DNS uptime and strong brand reputation since 1996, Sticky, long-tenure customer relationships with ISPs, TLD registries, and governments
Risk factors: Small absolute size means single customer loss or capex cycle can significantly move margins, Capex intensity from ongoing equipment refresh (100GE to 400GE) across multiple sites, Competitive pressure on IX pricing from DE-CIX, AMS-IX and private peering / cloud on-ramps, FX exposure with international DNS/anycast customers paying in EUR/USD while cost base is SEK, Non-profit mandate limits access to equity capital for large expansion (no IPO route), Geographic concentration in Nordics limits scale relative to pan-European competitors
Revenue by geography
- Sweden and Nordics: 80%
- Rest of World (DNS Anycast): 20%
Revenue by product/service
- IX (Internet Exchange) Services: 40%
- DNS Services (Anycast): 35%
- Time Services: 10%
- Transport (DWDM): 8%
- Domain Management and Security Services: 7%
Workforce by country
- Sweden: 50
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