FSPORTNasdaq StockholmElectronic Gaming & MultimediaIFRS · SEK

FSport

FSport is a Swedish digital sports media company based in Helsingborg that operates content and affiliate platforms focused on sports betting and trotting. Its business combines web portals, a CMS platform, and domain-based media properties that generate commercial traffic and partner-driven revenue.

Revenue1.3m SEK
−61.6 %y/y
Net income-5.8m SEK
+0.0 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-6-4-2024m SEK2020: 0.81 m SEK20202021: 1.5 m SEK20212022: 3.1 m SEK20222023: 2.9 m SEK20232024: 3.4 m SEK2024: EBIT -5.8 m SEK20242025: 1.3 m SEK20251.3
RevenueOperating profit (EBIT)

Business

Share of revenue
Affiliate sports media70 %

Web portals and content that direct users to partner gaming operators.

Digital sports platforms15 %

Standalone digital products such as Fans48 aimed at sports fans.

Domain and media assets10 %

Owned domains, brands, and portal assets that support traffic and monetization.

Content and platform development5 %

CMS, product development, and content creation supporting the media business.

Customers

FSport sells primarily to commercial partners in the Swedish gaming ecosystem, especially operators that advertise through its sports portals. Its audience also includes sports fans and betting-oriented readers who consume content on football, sports betting, and trotting. The company’s platforms are designed to attract traffic and convert that traffic into partner referrals and media value.

Gaming operators in Sweden

Buy affiliate placements, advertising, and traffic from FSport's portals to acquire users.

Sports media audiences

Consume football, sports betting, and trotting content that drives portal traffic and monetization.

Commercial media partners

Use FSport's digital properties for reach, branding, and performance marketing.

Football fans on Fans48

Engage with the global football platform for localized content and fan interaction.

Strategy

FSport’s strategy centers on building and monetizing digital sports media assets, with emphasis on affiliate traffic, content, and platform development. The company also develops proprietary digital products such as Fans48 and Tippa.se to broaden its audience reach and strengthen its position in sports-betting media. Protecting domains, brands, and software assets is important because the business depends on differentiated traffic sources and partner relationships.

Expand digital sports media offeringsMedium term

Broader content and platform reach can increase traffic and monetization opportunities.

Strengthen affiliate monetizationShort term

The business depends on converting audience traffic into commercial agreements with operators.

Protect and leverage intellectual propertyLong term

Domains, trademarks, and CMS assets support traffic generation and competitive differentiation.

Geography

FSport is headquartered in Helsingborg, Sweden, and its disclosed regulatory focus is the Swedish market. The business also operates digital products that can be distributed internationally, including Fans48, which was launched across multiple markets and languages. Geography matters because the company’s core affiliate model depends on local gaming regulation, partner relationships, and market-specific traffic monetization.

Risks

FSport faces regulatory risk because its core activity is tied to the Swedish gaming market and must comply with applicable laws and controls. The company also depends on traffic, partner relationships, and intellectual property, so changes in search visibility, competition, or content economics can affect monetization. As a digital media business with ongoing product and content investment, it is also exposed to execution risk and the possibility that new platforms do not scale as intended.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Traffic and partner concentration1Gaming regulation in Sweden2Execution risk on new digital products3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Traffic and partner concentrationImpact: HighLikelihood: High

    Revenue depends on audience traffic and commercial agreements with gaming operators.

    Exposure: Affiliate portals and content sites

  2. Gaming regulation in SwedenImpact: HighLikelihood: Medium

    The business operates in a regulated market and must maintain compliant controls and policies.

    Exposure: Core affiliate and media operations

  3. Execution risk on new digital productsImpact: MediumLikelihood: High

    Product development, content, and marketing investment may not translate into scalable revenue.

    Exposure: Fans48 and other platform launches

  4. Intellectual property disputesImpact: Medium

    Domains, trademarks, and software are key assets and may be challenged by competitors.

    Exposure: Media platform and portal assets

Accounting

Judgemental items
Capitalized development costs

The company reports activated work for own account, which shifts costs from expenses to assets.

Impact: Affects operating result and balance-sheet intangible assets

Amortization and depreciation of intangibles

Platform, domain, and software assets are amortized over time and reduce reported profit.

Impact: Material non-cash charge in the income statement

Impairment of intangible assets

If traffic or monetization weakens, domain and platform values may need write-downs.

Impact: Could create one-time charges and reduce equity

Affiliate revenue recognition

Revenue depends on commercial agreements with gaming operators and the timing of earned commissions.

Impact: Affects quarterly revenue comparability

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026