Flowscape Technology AB, a Stockholm-based listed company registered on the Swedish Spotlight Stock Market, is a provider of space booking software and hardware with revenues under $10 million. In this Research Note, we examine the business, based on their trading updates, investor presentations, and workplace management strategy. Flowscape, founded in 2011 has developed a system for optimizing office space as well as increasing employee efficiency and well-being. Their solution uses IoT sensors and indoor positioning technology to create a SaaS solution for smart offices, which includes room booking, desk booking, planning the week at the office, colleague finding, space utilization analytics and internal communication.  Company strategy during 2021 has been to increase software sales, which enable annual recurring revenue, and to reduce the proportion of hardware and non-recurring revenue for higher and long-term stable growth. As a result, the company’s total recurring license revenues increased by 49%. However, the decrease in non-recurring sales of hardware meant that total net sales in 2021 did not […]