Added to YB: 2025-06-16
Pitch date: 2025-06-13
INT.ST [bearish]
Intellego Technologies AB
-47.31%
current return
Author Info
Shitty situations is an emerging manager. Investor in distressed and unconventional (together, 'Shitty') situations. Strong preference for process-driven risk. Sign up for the newsletter.
Company Info
Intellego Technologies AB manufactures and sells colorimetric ultraviolet indicators in Sweden. The company offers UVC Dosimeter, a photochromic indicator that changes color based on the accumulated dose of invisible UV-C irradiation on a surface for use in healthcare, hospitality, retail, transportation, and commercial applications.
Market Cap
SEK 2.4B
Pitch Price
SEK 83.50
Price Target
N/A
Dividend
N/A
Sector
Electronic Equipment, Instruments and Components
Category
N/A
Intellego Technologies AB (INTELL B): The Anatomy of a Compelling Short - Unmasking Financial Fragility and Deceptive Practices
INT.ST short: Massive accounting issues - 104% surge in AR to 188M SEK, questionable CapEx classification, IFRS violations. Multiple Nasdaq sanctions for MAR breaches (~2.2M SEK fine). Dubious acquisition accounting, misleading disclosures, governance failures. Unsustainable receivables financed by Nordea/EKN credit. High risk of write-offs, restatements, auditor issues.
Read full article (18 min)