SLEEPNasdaq StockholmTechnologyIFRS · SEK

Sleep Cycle

Sleep Cycle is a technology company focused on improving global health by enhancing sleep quality through advanced sleep analysis and personalized insights. Utilizing patented AI technology, Sleep Cycle offers a subscription-based app that analyzes sleep patterns to provide users with actionable recommendations. The company leverages a vast database of over three billion nights of sleep data to deliver innovative features like Sleep Stages and Cough Radar, setting it apart in the sleep health market. With a strong emphasis on user engagement and data-driven insights, Sleep Cycle aims to double its income in the medium term while maintaining high profitability.

Revenue248m SEK
−5.2 %y/y
Operating profit (EBIT)66.0m SEK
−14.3 %y/y
EBIT margin26.6%
−2.8 ppy/y
Net income62.6m SEK
+0.0 %y/y
Free cash flow39.8m SEK
−36.9 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

0100200300m SEK2021: 183 m SEK2021: EBIT 10 m SEK20212022: 212 m SEK2022: EBIT 44 m SEK20222023: 236 m SEK2023: EBIT 57 m SEK20232024: 262 m SEK2024: EBIT 77 m SEK20242025: 248 m SEK2025: EBIT 66 m SEK2025TTM 2026: 169 m SEKTTM 2026: EBIT 23 m SEKTTM16923
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Sleep Analysis40 %

Includes AI-driven sleep tracking and insights

Health Monitoring20 %

Features like Cough Radar for respiratory tracking

User Engagement Tools15 %

Includes integration with Siri and personalized recommendations

Subscription Services25 %

Revenue from app subscriptions

Customers

Sleep Cycle primarily serves individual consumers who are health-conscious and interested in improving their sleep quality. The app appeals to tech-savvy users who appreciate the convenience of AI-driven insights and personalized recommendations. Customers are often motivated by the desire to enhance their overall well-being and are willing to invest in subscription-based services for continuous health monitoring. The company also targets users interested in innovative health technologies, such as non-contact sleep analysis and respiratory health tracking. Partnerships with other health and wellness platforms help Sleep Cycle reach broader customer segments.

Individual Consumers

Buy subscription-based sleep analysis for personal health improvement

Tech Enthusiasts

Attracted by AI and machine learning features for health insights

Health and Wellness Partners

Collaborate to integrate Sleep Cycle's technology into broader health solutions

Strategy

Sleep Cycle's strategy focuses on growth through innovation, aiming to double its income in the medium term while maintaining a high operating margin. The strategy is built around three main areas: User Growth, User Engagement, and Platform & Data. By leveraging its vast sleep data and patented technology, Sleep Cycle seeks to enhance user acquisition and retention through partnerships and media exposure. The company is also exploring new revenue streams and optimizing pricing strategies to adapt to global market dynamics.

User GrowthMedium term

To increase visibility and expand user base

User EngagementShort term

To enhance retention and subscription renewals

Platform & DataLong term

To leverage unique technology for new revenue streams

Geography

Sleep Cycle operates globally, with a significant presence in markets where health and wellness trends are prominent. The company's app is available in multiple languages, catering to a diverse international user base. While specific regional revenue breakdowns are not provided, the global reach is crucial for capitalizing on varying consumer behaviors and willingness to pay across different markets. Manufacturing and development are primarily conducted in Sweden, where the company is headquartered.

Risks

Key risks for Sleep Cycle include increased competition in the sleep health market and the challenge of maintaining user engagement in a subscription-based model. The reliance on AI and machine learning technologies also poses risks related to data privacy and regulatory compliance. Additionally, the company's global operations expose it to currency fluctuations and varying consumer behaviors across markets. Industry-specific risks include the rapid pace of technological change and potential disruptions from new entrants offering similar health solutions.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Increased Competition2User Engagement3Currency Fluctuations4
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. Data PrivacyImpact: Critical

    AI-driven insights rely on sensitive user data

  2. Increased CompetitionImpact: HighLikelihood: High

    More players entering the sleep health market

  3. User EngagementImpact: MediumLikelihood: High

    Subscription model requires high retention rates

  4. Currency FluctuationsImpact: MediumLikelihood: High

    Global operations expose revenue to exchange rate changes

Accounting

Judgemental items
Revenue Recognition

Subscription model requires matching revenue with service delivery

Seasonality

User acquisition and retention vary across quarters

Currency Fluctuations

Global operations expose financial results to exchange rate changes

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

Sleep Cycle (SLEEP) Revenue, Earnings & Financials 2025 – Clarifo