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Why invest in cBrain®?

cBrain offers a better path forward

Governments around the world face urgent and complex challenges: legacy IT systems, fragmented processes, regulatory pressure, and rising citizen expectations. Yet digital transformation efforts often fail, burdened by slow, expensive, and bespoke IT projects that are difficult to scale or adapt.

Modern technology for modern institutions with built-in AI

Fast, measurable impact where projects go live in weeks not months

A global solution, locally rooted

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Annual report 2025:
cBrain delivers a solid EBT margin of 22% and increases dividends by 56%

In 2025, cBrain reported revenue of DKK 251m, a 6% decrease year-on-year, in line with expectations and reflecting delays in large government projects. However, the underlying subscription-based business grew approximately 18% and now represents 66% of total revenue, providing a solid financial foundation. Earnings before tax (EBT) reached DKK 56m, corresponding to a strong 22% margin, exceeding expectations. Supported by solid operating cash flow, the Board proposes a 56% increase in dividends to DKK 1.00 per share.

During 2025, cBrain focused on piloting and preparing for scalable growth, investing in a segment-driven go-to-market model and a partner-led delivery strategy. The F2 platform is now fully AI-enabled, positioning it as a standardized commercial off-the-shelf (COTS) enterprise platform purpose-built for government.

With its 2026–2028 strategy, cBrain aims to accelerate sustainable growth through scalable software sales, targeting selected segments such as paperless ministries and environmental permitting, while expanding its partner ecosystem. The global government software market is estimated to exceed USD 50 billion, and cBrain aims to take a leading position. For 2026, revenue is forecast at DKK 275–290m with an EBT margin of 20–25%.

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Two female cBrain employees in conversation

This is cBrain

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cBrain was founded with a clear mission: to help governments transform by building efficient, transparent, and accountable public institutions.

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For over two decades, we’ve developed cBrain F2®, a proven digital platform purpose-built for government. Developed in close collaboration with Danish ministries, cBrain F2 simplifies bureaucracy while remaining fully configurable.

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Designed for public-sector workflows, cBrain F2 enables fast, scalable digital transformation without custom coding or heavy consulting. It streamlines processes, improves service delivery, and delivers measurable productivity gains.

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With regular updates and strong adaptability, cBrain F2 empowers governments to modernize efficiently. It turns complex administration into agile, digital operations.

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About us

Meet the IR team

Meet our investor relations team. Didn’t find what you were looking for? Do you have any specific questions? Or do you just want to learn more about us? You are more than welcome to get in touch!

Lars Møller Christiansen

CFO & Head of Investor Relations

Phone:

+45 7216 1811

Mobile:

+45 2442 9300

Email:

ir@cbrain.com

Andrew Dixon

General Counsel & Investor Relations

Phone:

+45 7216 1811

Mobile:

+45 2258 8985

Email:

ajd@cbrain.com

Member of the board, Lisa Herold Ferbing, in conversation

Corporate governance

cBrains reports and policies on corporate governance includes statutory statements, policies and procedures, committees, and other reports.

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Shareholder portal

Use the shareholder portal to tailor information from cBrain to your preferences, see your shareholding, register for general meetings, appoint a proxy, and much more.

Shareholder portal

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General meeting

Find information about the general meeting, how to attend, and summaries from previous years.

General meetings

Board of directors

The board’s composition is based on a desire to ensure continuity as well as a representation of the most important competencies in order to secure the company's ongoing development and fulfillment of the company's long-term goals.

Meet the board

Awards and achievements

With a focus on innovation, a passion for software and collaboration, cBrain is proud to have been recognized with prestigious awards, highlighting our commitment to driving digital transformation within governments and delivering outstanding results.

Explore our achievements