Nasdaq CopenhagenIFRS · DKK

Linkfire A/S

Linkfire A/S is a Danish software company that provides music-linking and audience-conversion tools for the recorded music industry. Its platform is used to create and manage smart links, artist workspaces, and integrations that connect music releases and promotional content across websites and applications.

Kysy yhtiöstä
Liikevaihto42,6milj. DKK
−8,9 %v/v
Liikevoitto (EBIT)−3,8milj. DKK
+68,3 %v/v
EBIT-marginaali−8,8%
+16,5 %-yks.v/v
Nettotulos−14,0milj. DKK
+34,8 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−100−50050100milj. DKK2020: 25 milj. DKK2020: EBIT −14 milj. DKK20202021: 34 milj. DKK2021: EBIT −39 milj. DKK20212022: 53 milj. DKK2022: EBIT −74 milj. DKK20222023: 50 milj. DKK2023: EBIT −28 milj. DKK20232024: 47 milj. DKK2024: EBIT −12 milj. DKK20242025: 43 milj. DKK2025: EBIT −3,8 milj. DKK202543−3,8
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Linkfire A/S

Liiketoiminta

Osuus liikevaihdosta
Software licenses60 %

Time-limited licenses that give customers access to the Linkfire platform and its features.

Integration components20 %

Embedded components used on websites and in applications to connect users to music content.

Artist Workspaces15 %

Artist-facing promotional tools for managing releases, campaigns, and fan engagement.

Professional services and support5 %

Implementation, configuration, and customer support related to platform use.

Asiakkaat

Linkfire sells primarily to music-industry organizations that need digital tools to route listeners from promotions to streaming and other destination pages. Its customers include major labels, music partners, artists, and other businesses that distribute or market music online. The platform is valuable where traffic conversion, attribution, and multi-channel promotion matter.

Major labels

Buy platform access and campaign tools to promote releases and convert traffic to streaming destinations.

Music partners

Integrate Linkfire as a component in their own websites and applications to enhance music discovery and routing.

Artists and managers

Use Artist Workspaces to manage promotion and audience engagement across release campaigns.

Other music businesses

Include distributors, publishers, and marketing teams that need link management and audience conversion tools.

Strategia

Linkfire’s strategy is centered on continuous product development, especially for front-end and back-end functionality that improves user experience and expands technical use cases. The annual report points to growth being driven by Artist Workspaces, wider rollout of the product, and monetization of existing and new customers and partners. Maintaining software relevance and integration depth is central to retaining labels and partners in a specialized music-marketing niche.

Roll out and monetize Artist WorkspacesLyhyt aikaväli

The product is highlighted as a growth driver and extends the platform beyond basic link management.

Deepen product functionality and integrationsKeskipitkä aikaväli

The platform must stay embedded in websites and applications to remain useful for labels and partners.

Improve operational scalabilityKeskipitkä aikaväli

Stable infrastructure and controlled cost growth support a software model with recurring customer relationships.

Maantiede

Linkfire is headquartered in Copenhagen, Denmark and operates as a software business serving an international music-industry customer base. The report discloses exposure to USD and other foreign currencies, indicating that customers and cost items are not limited to Denmark. The business is not described as manufacturing-based, so geography matters mainly through customer reach, currency exposure, and contractual relationships with global labels and partners.

Riskit

Linkfire faces typical software risks around customer retention, product relevance, and dependence on continued adoption by labels and partners. The report also highlights financial risk from foreign currency exposure, customer credit risk, and refinancing/liquidity dependence, which are especially important for a company with contracted software revenue and debt obligations. Because the platform serves a concentrated music-industry niche, changes in partner relationships or industry spending can have an outsized effect.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Liquidity and refinancing risk1Customer retention and adoption risk2Foreign exchange risk3Credit risk on receivables4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Liquidity and refinancing riskVaikutus: KriittinenTodennäköisyys: Kohtalainen

    The annual report states that overdue borrowings required refinancing and lender support.

    Kohdistuu: Debt maturities and cash flow timing

  2. Customer retention and adoption riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Revenue depends on labels, partners, and artists continuing to use the platform and its integrations.

    Kohdistuu: Recurring software and platform contracts

  3. Foreign exchange riskVaikutus: KeskitasoTodennäköisyys: Korkea

    The company reports limited natural hedging and exposure to USD and other currencies.

    Kohdistuu: Operating costs and receivables/payables

  4. Credit risk on receivablesVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The customer base is broad, but the report notes significant exposure to major labels and large partners.

    Kohdistuu: Trade receivables and collections

Kysy Clarifolta: Linkfire A/S

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition

Licenses and integration components may be recognized differently depending on contract terms and delivery timing.

Vaikutus: Affects revenue timing and comparability across periods

Capitalized development costs

The company capitalizes part of software development while expensing projects that do not meet recognition criteria.

Vaikutus: Affects EBITDA, intangible assets, and amortization

Impairment of software assets

Forecast-based impairment testing depends on revenue growth and margin assumptions.

Vaikutus: Could trigger non-cash write-downs

Deferred tax assets

Tax losses carried forward are not fully recognized because future taxable income is uncertain.

Vaikutus: Affects reported tax expense and equity

Debt refinancing and classification

Overdue borrowings and refinancing agreements influence current versus non-current liability presentation.

Vaikutus: Affects liquidity presentation and covenant perception

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Päivitetty: 24.10.2026