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The Worlds #1 Sleep App

Welcome to Sleep Cycle Investor Relations

Pioneering science-based sleep technology trusted by millions. Explore our growth journey and long-term value creation.
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Stock price
Price
SEK
Stock ticker
SLEEP
Market cap
SLEEP
SEK
-
MSEK
Days until report:
-
— Updates every 5min
A unique investment case
Sleep Cycle is a profitable, data-driven subscription business in the rapidly growing wellness tech space. With millions of users and proprietary sleep analytics, we are uniquely positioned at the intersection of health, tech, and behavioral insights.

Latest info

Latest report
Year-end report 2024
Published on
February 4, 2025
Upcoming event
Annual general meeting 2025
April 8, 2025
Latest press release
Exciting New Product Launch
October 1, 2023
Latest report
All
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Upcoming event
All
Interim report January-March 2025
April 25, 2025
Latest press release
All
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Subscriptions
* Average annual subscription revenue per subscriber during the period
Income statement
Earnings call
Q3 2024 earnings call
  • Net sales amounted to MSEK 44.7 (30.9)
  • The gross margin was 76.1% (70.6%)
  • Operating profit before depreciation and amortization (EBITDA) amounted to MSEK 5.9 (-6.0).
  • Operating profit after depreciation (EBIT) amounted to MSEK 4.4 (-302.4)
  • Cash flow amounted to MSEK 9.4 (-2.3), or MSEK 10.6 (-4.2) including currency effects.
  • Cash and cash equivalents at the end of the period amounted to MSEK 68.7 (44.1)

Sleep Cycle at a glance

Sleep Cycle's mission is to improve global health by helping people sleep better
2.8 million
active users.
The most downloaded sleep application globally.
A database of 3 billion+ nights analysed, fueling continuous innovation.
150 countries.
The world’s leading sleep tracking and analysis platform
Sleep Cycle’s proprietary dataset includes over 3 billion nights of sleep analyzed – enabling data-driven insights, feature development, and academic collaboration.
Cutting-Edge AI & Machine Learning
Real-time sleep tracking with patented audio analysis.
New features like ‘Cough Radar’ and ‘Sleep GPT’, providing personalized health insights.
Scalable, Subscription-Based Business Model
High-margin, recurring revenue from premium subscriptions.
Strong cash conversion, ensuring financial stability.
Our divisions
Add Master
21% of total revenue*
SteriTouch
21% of total revenue*
*Revenue in 2024
Founded
2009
Employees
30+
Head office
Gothenburg
Net sales in 2024 (SEK)
262 million
EBIT margin (2024)
29.4%

Why Invest?

1
Global leader in sleep analysis
Sleep Cycle is a world leader in AI-based sleep analysis, based on scientific research and protected by numerous patents. Close collaboration with leading universities in sleep research ensures that our product development remains aligned with and based on the latest science.

The fact that Sleep Cycle is the most downloaded sleep-related app and has a strong organic influx of new customers is proof that Sleep Cycle is perceived as the best option in a global market.
2
A stable core business with high profitability
Sleep Cycle has already proven itself with a core business that is stable and profitable and has been so for a long time. One of the financial targets is to have an operating margin of at least 25% yearly. Recurring revenues from subscriptions provide predictable cash flows and the strong profitabilityenables annual dividends equivalent to 40-60% of annual profit after tax.
3
Growing awareness of sleep’s importance for health drives growth
With the growing recognition of sleep’s importance to our overall well-being,Sleep Cycle is positioned for growth in a global sleep tech market estimated at SEK 17 billion. Since everyone has a need for a good night’s sleep, the company’s potential target audience essentially includes anyone with a smartphone.
4
New phase with multiple paths to increased growth
Given our proactive management with strong faith in the company, the strategy
and set goals, there are several paths to continued growth:
— Organic growth in the core business through strategic focus on conversion,
price differentiation, and geographic alignment.
— Growth through the further development of strategic partnerships.
— New revenue streams through product development of existing data and knowledge with 3 billion nights analyzed, Sleep Cycle has a world-leading
database.

Sleep Cycle’s features

Powerful, groundbreaking technology based on science. This is how one might sum up Sleep Cycle. We help our users establish good sleep habits that lay the foundation for better health and well-being.
Read more on sleepcycle.com
Sleep Tracking
Measures duration, sleep stages, and interruptions throughout the night with unparalleled accuracy.
Smart Alarm
Wake up during your lightest sleep phase to start your day smoothly, with a selection of pleasant alarm sounds.
Sleep Stages
Understand your sleep in full detail. How light, deep and REM sleep affect physical and mental recovery.
Sleep Sounds
Replay nighttime sounds and discover a fun way to explore your nights and wake up with a smile.
Sleep Aid
A guided journey into restful sleep. Set to play with a soft fade-out and wake up refreshed.
Our divisions
Add Master
21% of total revenue*
SteriTouch
21% of total revenue*
*Revenue in 2024
Operating across more than 200+ countries
EMEA
59%
APAC
33%
Americas
19%
*% of revenue in 2023

Our brands

Polygiene
Polygiene is a leading, global, consumer-focused ingredient brand in Freshness and Product Protection. Polygieneboasts high brand awareness and significant brand equityin the industry. In close collaboration with partners, theproduction facilities are equipped with our treatments.Polygiene supports the implementation of our solutionsthroughout the value chain.
AddMaster
Addmaster was founded with a clear focus on addressing the challenges posed by microbes and pathogens in various industries. Specialized antimicrobial technologies are carefully designed to inhibit the growth of microbes on hard surfaces, contributing to a more hygienic environment. Our flagship product, Biomaster, exemplifies our commitment to setting industry standards. Since 2000, we have consistently demonstrated the ambition to promote antimicrobial technology, earning Addmaster recognition for reliability and effectiveness.
Sleep Cycle's strong global userbase
Top 5 active users in 2024
COUNTRY
SHARE
USA
23%
United Kingdom
9%
Japan
9%
Brazil
8%
Germany
8%
France
7%
China
5%
Netherlands
4%
Australia
4%
Spain
4%

Market trends

2023
2030
Surge in Health and Wellness App Adoption
The global wellness apps market was valued at USD 11.27 billion in 2024 and is projected to grow at a CAGR of 14.9%, reaching USD 26.19 billion by 2030.
Heightened Awareness of Sleep’s Role in Health
There is a growing recognition of sleep as a critical component of overall health, with insufficient sleep linked to various chronic conditions such as obesity, diabetes, and cardiovascular diseases.
Increased Consumer Spending on Health Apps
Despite a slight decrease in global app downloads, in-app revenue for health and fitness apps grew by over 16% from 2023 to 2024, reaching approximately $4 billion worldwide.

Strategy

Our aim
To aggressively focus on increased organic growth and explore new revenue streams based on the unique technology and vast amount of data Sleep Cycle possesses
Updated strategy 2024
User growth
The new strategy focuses on increasing visibility and presence in earned channels in order to benefit from organic growth.
— 80% of new users come through referrals and word-of-mouth
— Focus on increasing visibility in earned channels
— Simplified onboarding and active branding
— Strategic partnerships to reach new customer segments
— New pricing strategy
Existing operations
This part of the strategy focuses on developing our capabilities to improve data quality and further increase trust in SleepCycle.
— There are many meeting points along the customer journey where we can help our users not only to create good habits, but also to maintain them.
— Launches like "Sleep Stages" demonstrate how our technology and data transform Sleep Cycle into an essential part of daily well-being.
— Retention is crucial to subscription-based model
— Personalization at key customer journey touchpoints
— Improved data quality builds trust and converts users
New markets
We aim to open up new geographic markets and be a reliable and knowledgeable supplier by ensuring we have theright resources specialized in each area.
— Processing 300,000+ hours of sleep data hourly
— AI-powered analysis of breathing patterns and movements
— Exploring medical certification for sleep apnea screening
— Cough Radar feature launched in 2023 shows potential for expanding beyond core product
Revenue growth
6-10%
EBITA margin
>18%
Leverage ratio
<2.5x
40-60%
of profits paid out in dividends
CO2e reduction to 2025
30%
Employee NPS
>40
LTIFR
<2
ESG assessment of suppliers
>80%

Financial overview

Ticker: SLEEP
Capital %
Votes %
Maciej Drejak through company
42.9
%
-
8,707,984
shares
42.9
%
Dec 31, 2024
Pierre Siri through company
20
%
-
4,047,686
shares
20
%
Dec 31, 2024
Nordnet Pensionsförsäkring
5.7
%
-
1,151,726
shares
5.7
%
Dec 31, 2024
Avanza Pension
5.5
%
-
1,115,045
shares
5.5
%
Dec 31, 2024
Lancelot Asset Management AB
3.3
%
-
675,000
shares
3.3
%
Dec 31, 2024
Erik Jivmark
CEO
Read bio
Bio
Born:
1982
Education:
M.Sc. Business Economics from Lund University.
Other assignments:
Employed since:
November 2023
Previous positions:
Erik is a seasoned CEO with international experience from leading positions in digital product and service development. Erik most recently served as CEO of Volvo Car Mobility AB and Head of Volvo Cars Stockholm Tech Hub. Prior to that, Erik was Global Director of Digital at Volvo Cars AB, based both in Sweden and the USA. Erik has also worked at Accenture with a focus on digital and commercial transformation
Own holdings and holdings of related parties:
8,000.
Warrants:
200,000.
Elisabeth Hedman
CFO & Head of IR
Read bio
Bio
Born:
1985
Education:
M.Sc. Economics from Linköping University
Other assignments:
Employed since:
June 2024
Previous positions:
Elisabeth’s experience in managing and finance operations and driving growth not only demonstrates her leadership skills but also underlines her strategic vision. Elisabeth comes most recently from her assignment as CFO at TimeEdit and has previously held several financial roles at Norion Bank.
Own holdings and holdings of related parties:
2,000.
Warrants:
100,000.
Peter Alsterberg
Chief Commercial Officer
Read bio
Bio
Born:
1977
Education:
M.Sc. Business Economics, Strategic Marketing from Stockholm University
Other assignments:
Employed since:
April 2024
Previous positions:
Peter has 20 years of experience as a management and strategy consultant in a wide range of industries in global markets. Before Sleep Cycle, Peter was Executive Vice President for Sweden, Denmark, and Finland at frog (part of Capgemini Invent). Peter has previously held the roles of Vice President at Capgemini Invent and Business Advisor and Project Manager at Nordea.
Own holdings and holdings of related parties:
10,000.
Warrants:
100,000.
Mikael Kågebäck
Chief Technology Officer
Read bio
Bio
Born:
1981
Education:
Ph.D. Machine Learning and AI at Chalmers University of Technology in Gothenburg.
Other assignments:
Employed since:
2020
Previous positions:
In his role as CTO at Sleep Cycle, Mikael works, among other things, as head of our core technology team with our machine learning research. That research is central to Sleep Cycle as a whole. It drives our business forward and enables our users to gain insight into sleep quality and habits. Mikael's previous experience includes several years as a PhD student in machine learning and AI at Chalmers, along with positions as a system architect at H&M at Extenda and developer for the Swedish Air Force.
Own holdings and holdings of related parties:
17,181.
Warrants:
105,225.
Petter Höglander
Chief Product Officer
Read bio
Bio
Born:
1985
Education:
B.Sc. in Marketing, Design and Project Management from Stockholm University
Other assignments:
Employed since:
April 2024
Previous positions:
Petter has extensive experience in driving growth for subscription-based product companies in B2C. Petter has previously held several key roles at companies such as Teemyco, Epidemic Sound, Record Union, and MTG/Viaplay
Own holdings and holdings of related parties:
4,800.
Warrants:
100,000.
Anne Broeng
Chairman of the board. Board member. Chairman of the audit committee. Member of the remuneration committee
Read bio
Bio
Born:
1961
Education:
M.Sc. Economics from Aarhus University.
Member of the board since:
Chairman of the board since 2023. Board member and Chairman of the audit committee since 2020. Member of the remuneration committee since 2024
Employed since:
Other assignments:
Chairman of the board of Velliv. Board member of Energi Danmark A/S, VKR Holding, Aquaporin A/S and Rambøll Group. Deputy Chairman of the charity ‘Children's Rights National Association‘.
Previous positions:
Anne works professionally as a board member and has broad experience of public and private companies. Previously, she served as CEO, CFO and CIO of PFA Pension.
Own holdings and holdings of related parties:
10,000.
Warrants:
-
Mathias Høyer
Board member. Member of the audit committee. Chairman of the remuneration committee
Read bio
Bio
Born:
1992
Education:
M.Sc. Financial Economics from University of Oxford.
Member of the board since:
Board member and member of the audit committee since 2023. Chairman of the remuneration committee since 2024
Employed since:
Other assignments:
-
Previous positions:
Mathias has experience as investment manager within private equity with focus on investments in public and private technology companies. He currently works as an advisor to growth companies. Previously, he was the CFO of Booksy Group Corp.
Own holdings and holdings of related parties:
14,107.
Warrants:
-
Hans Skruvfors
Board member
Read bio
Bio
Born:
1980
Education:
M.Sc. in Economics, Stockholm School of Economics.
Member of the board since:
Board member since 2024
Employed since:
Other assignments:
Board member of Volumental AB.
Previous positions:
Hans has experience as a leader in fast-growing and data-intensive companies. He currently works as CEO of Sambla Group AP. Before that he was the CEO of Foodora AB and has also previously held several leading roles in Nepa AB, a company that offers data and insights into customer behavior through a platform.
Own holdings and holdings of related parties:
-
Warrants:
-
Maciej Drejak
Board member
Read bio
Bio
Born:
1978
Education:
Secondary Education / High School in Sciences.
Member of the board since:
Board member since 2023
Employed since:
Other assignments:
Board member in Everdrone AB, h265 AB, MCGA AB and Velvet Cichlid AB.
Previous positions:
Maciej has a background as a developer, system architect and entrepreneur. Maciej is the founder and main owner of Sleep Cycle and holds 43% of the shares and votes in Sleep Cycle through his companies. In addition to Sleep Cycle, he has also founded Ninja Games AB and Everdrone AB. He has also developed several successful apps, websites and other applications. Maciej currently works as software development manager at Everdrone AB.
Own holdings and holdings of related parties:
8,707,984
Warrants:
-
Erik Jivmark
CEO
Elisabeth Hedman
CFO & Head of IR
Peter Alsterberg
Chief Commercial Officer
Mikael Kågebäck
Chief Technology Officer
Petter Höglander
Chief Product Officer
Anne Broeng
Chairman of the board. Board member. Chairman of the audit committee. Member of the remuneration committee
Mathias Høyer
Board member. Member of the audit committee. Chairman of the remuneration committee
Hans Skruvfors
Board member
Maciej Drejak
Board member

Our story

2009
Founded
Sleep Cycle was born from the insight that iPhones could detect sleep movements with high precision. Frustrated by groggy mornings, the team created a smart alarm that wakes users in their lightest sleep phase. What started as a simple idea quickly became a global sleep app helping millions wake up feeling refreshed.
2010
Sleep Cycle hit 1 million downloads
and approximately 14,000 years of cumulative sleep tracked. Long-term sleep statistics and graphs were introduced so users could better understand their sleep patterns.
2011
Sleep quality metrics and sleep notes were introduced
giving users actual insights into what affects their sleep and how to improve it.
2012
Sleep Cycle hit 5 million downloads
and approximately 68,000 years of cumulative sleep tracked.
2012
Heart rate tracking was introduced
giving users a more holistic view of how their exercise habits affect their sleep and vice versa. Users could now measure their heart rate every morning when they woke up to get a baseline of their resting pulse.
2014
Heart rate tracking was introduced
Sleep Cycle introduced its Apple Health app integration and debuted Sleep Cycle for Android.
2016
New statistical features were introduced
that looked at how time spent in bed, activity and location affect sleep.
2017
Snore detection was introduced
alerting millions of users to when and how much they snore. New statistical features also explored if air pressure or moon phase affect sleep.
2018
Sleep Cycle made its Apple Watch debut
and introduced a new silent wake up feature. Sleep Cycle also became GDPR compliant.
2019
Over 37.4 million downloads and 4.38 billion hours of sleep tracked
Launch of the Sleep Cycle Institute, which puts Sleep Cycle’s anonymized global sleep data into the hands of multidisciplinary health and wellness experts to provide individuals and policymakers with quantitative insights into the relationship between sleep and overall health and wellness.
2021
Initial Public Offering (IPO) on Nasdaq Stockholm.
2023
Launch of Cough Radar
a cutting-edge tool for monitoring health-related breathing disruptions during sleep.
2024
 Launching Sleep Stages
a world first non-contact sleep analysis of sleep stages.

Analyst coverage

Latest
Activity in Q1(25e) similar to Q4(24) - Q1 preview
April 1, 2025
See more
Sleep Cycle Q1 Preview: Continued market headwinds
April 8, 2025
See more
Sleep Cycle: Interview with CEO Erik Jivmark
February 5, 2025
See more
See all

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