1. Iceland Stocks

  2. •

    Technology services

  3. •

    Packaged software
Solid Cloud hf

Solid Cloud hf

IICE:SOLID
0.14
ISK
-0.03
(-17.65%)
179.26MMarket Cap
Solid Cloud hf
ICE:SOLID
(Nasdaq Iceland)

Recent

price

0.14

P/E

ratio

- -

div

yld

- -

ROIC.AI

2018
2019
2020
2021
2022
2023
2024
2025
TTM
ISK
300.93
0.12
0.35
0.08
0.06
0.11
0.3
0.16
- -
Revenue per Share
-65.53
-0.2
0.05
-0.18
-0.28
-0.45
-1.22
-0.36
- -
Basic EPS, GAAP
-0.62
-0.95
-1.09
-1.54
-0.08
-0.21
-0.34
-0.15
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
1.95
2.84
3.44
7.05
6.82
6.38
3.23
1.82
1.65
Book Value per Share
0.48
0.69
0.48
3.3
2.14
0.98
-0.19
0.09
-0.01
Tangible Book Value per Share
184
184
184
184
184
184
332
717
717
Basic Weighted Avg Shares
55,431
21
64
14
11
20
99
114
- -
Sales/Revenue/Turnover
-32.24
-176.27
-37.56
-421.12
-952.83
-714.56
-249.44
-218.37
- -
Operating Margin (%)
- -
6
33
46
74
93
115
133
- -
Depreciation Expense
-12,071
-36
10
-34
-51
-83
-404
-261
- -
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
-21.78
-169.88
15.12
-237.35
-455.77
-405.89
-407.7
-228.47
- -
Profit Margin (%)
84
122
51
542
285
16
-67
56
88
Working Capital
- -
14
9
5
5
- -
- -
- -
102
LT Debt
360
522
634
1,298
1,256
1,175
1,073
1,303
1,181
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
-8.26
1.67
-3.53
-3.98
-6.83
-35.99
-21.95
- -
Return on Common Equity (%)

Capital Structure

ISK

•

in mil. unless spec.
Jun'25
Dec'25
Jun'26
ST Debt
5
6
4
LT Borrowings
- -
- -
102
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
717
717
717
Market Capitalization
1,076
258
179

Working Capital

ISK

•

in mil. unless spec.
Jun'25
Dec'25
Jun'26
Total Current Assets
316
115
131
Cash, Cash Equivalents & STI
170
101
10
Accounts Receivable, Net
6
7
6
Inventories
- -
- -
- -
Total Current Liabilities
43
59
43
Payables & Accruals
- -
- -
- -
ST Debt
5
6
4
Deferred Revenue
- -
- -
- -

Growth Rates

ISK

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
21.57%
21.42%
Free Cash Flow
- -
58.9%
-6.18%
Net Income, GAAP
- -
2.15%
-35.54%
Sales/Revenue/Turnover
- -
76.71%
15.03%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

ISK

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
99
2025
- -
- -
114
2026
- -
- -
- -

Semi-annual Earnings Per Share

ISK

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
-1.22
2025
- -
- -
-0.36
2026
- -
- -
- -

Semi-annual Dividends Per Share

ISK

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
- -
2026
- -
- -
- -
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Business
Solid Clouds hf Solid Clouds hf (SOLID.IC) is an Iceland-based video game developer focused on information technology, software development, and computer games creation and marketing, specializing in massively multiplayer online (MMO) games for PC and mobile platforms. The company develops and publishes core titles including Starborne: Sovereign Space, a strategic space MMO, and Starborne: Frontiers, its latest mobile game featuring deep gameplay experiences with PvP tournaments, seasonal events, and alliance-based competition; it employs a technology framework for rapid production of high-quality MMOs targeting global gamers. Solid Clouds hf operates internationally with revenue streams primarily from the United States, United Kingdom, Germany, Australia, Canada, and other markets including Sweden, South Korea, the Netherlands, Romania, France, Estonia, Spain, Belgium, Poland, and Iceland; founded in 2013 and headquartered at Eiðistorg 17, Seltjarnarnes, Iceland, the company maintains a lean team of approximately 20 employees. Recent developments include the appointment of Egill Sigurjónsson as Chief Executive Officer effective September 10, 2025, succeeding prior leadership; expansion of Starborne: Frontiers marketing efforts in 2025 with new ad platforms such as Applovin, Mintegral, and Ironsource alongside game internationalization through additional language translations; and successful in-game events like the second Starborne: Frontiers Tournament reaching full capacity in April 2025 with 255% increased participation, alongside the game's one-year anniversary celebrations in the same month.