Cliq Digital AG (CLIQ) AI Stock Analysis

• Market Cap: €15.72M
• Dividend Yield: 5.87%
• Average Volume (3M): 7.12K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.19
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: DE
• Employees: 116
• Sector: Communication Services
• Sector Strength: 97
• Industry: Entertainment
• EPS (TTM): -0.93
• Shares Outstanding: 5,857,843
• 10 Day Avg. Volume: 8,890
• 30 Day Avg. Volume: 7,117
• PEG Ratio: 0.01
• Price to Book (P/B): 0.13
• Price to Sales (P/S): 0.06
• P/FCF Ratio: 0.35
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -1.04
• Revenue Forecast (FY): €63.00M

• Rating: 49 Neutral
• Price Target: €2.50 ▲(82.48% Upside)
• Action: Reiterated Date: 03/13/26
• Date: Action: Reiterated 03/13/26

The score is held back primarily by sharply deteriorated operating performance (revenue contraction and ongoing net losses), despite support from a low-debt balance sheet and improved 2025 cash flow. Technically, momentum has improved in the short term but looks stretched, and valuation is constrained by negative earnings with only partial support from the dividend yield.

Positive Factors

Low leverage / strong balance sheet

A very low-debt capital structure provides durable financial flexibility: it supports continued investment in marketing or product, cushions operating losses, and reduces refinancing risk. That conservatism gives the company runway to stabilize operations without urgent external funding.

Improved operating and free cash flow (2025)

A rebound to positive free cash flow in 2025 indicates the business can convert sales into cash even while accounting losses persist. Durable cash generation supports reinvestment, debt avoidance, and gives management flexibility to prioritize profitable subscriber growth over short-term accounting profits.

Recurring D2C subscription business model

A direct-to-consumer recurring revenue model creates predictable, repeatable cash flows and scalable unit economics if acquisition and retention work. Over months this supports margin expansion via retention, cross-sell, and reduced per-subscriber fixed costs versus one-time sale models.

Negative Factors

Sharp revenue contraction

Sustained, material revenue declines weaken scale economics and erode the fixed-cost absorption that subscription bundles rely on. Over 2-6 months this trend can continue to pressure margins, reduce marketing ROI, and make recovering profitable unit economics harder without clear demand drivers changing.

Persistent net losses and profitability instability

Continued net losses and negative ROE signal the company is not yet deploying capital profitably. This structural profitability gap reduces retained earnings, limits strategic investment capacity, and raises questions about the sustainability of dividends or growth initiatives absent consistent operating improvements.

High dependence on acquisition efficiency (CAC/LTV)

A business model reliant on performance marketing and a favorable CAC/LTV spread is exposed to volatile ad costs and conversion rates. Structurally, any sustained rise in acquisition costs or worsening retention will compress margins and slow durable growth unless the company secures lower-cost channels or improves product stickiness.

Cliq Digital AG Business Overview & Revenue Model

Company Description

Cliq Digital AG, a streaming provider, engages in the performance marketing of mass market entertainment products. The company offers its members access to movies, series, music, audiobooks, sports, and games. It also provides digital marketing, offering products to the mass market. The company operates in approximately 30 countries. Cliq Digital AG is a strategic business partner for networks and content producers, as well as for publishers and payment service providers. The company was formerly known as Bob Mobile AG. Cliq Digital AG was founded in 2003 and is headquartered in Düsseldorf, Germany and has offices in Amsterdam, London, Paris, Barcelona, Toronto, and Florida.

How the Company Makes Money

Cliq Digital primarily makes money from recurring subscription fees paid by end users for access to its digital entertainment bundles. The core revenue stream is direct-to-consumer (D2C) subscription revenue, where customers sign up through Cliq Digital’s performance marketing funnels and are billed on a periodic basis (e.g., monthly) as long as they remain subscribed. A key driver of earnings is the spread between (1) customer lifetime value (subscription payments collected over the life of a subscriber) and (2) the cost to acquire and retain subscribers (notably online advertising/performance marketing spend, as well as payment processing and customer service). The company’s ability to generate profits depends heavily on acquisition efficiency (conversion rates and marketing cost per subscriber), retention/churn management, pricing, and the margin between subscription revenue and the costs of content licensing/production and platform operations. Where used, partnerships with third parties (e.g., distribution or billing partners such as telecoms, app ecosystems, or payment intermediaries) can support customer acquisition and billing/collection, but specific partner names, terms, and contribution levels are null.

Cliq Digital AG Financial Statement Overview

Summary

Overall fundamentals are mixed: the income statement is weak with steep revenue declines and continued net losses (low income statement score), partly offset by a strong, low-leverage balance sheet and a 2025 rebound in operating and free cash flow. The key risk is that profitability has not stabilized despite improved cash generation.

Income Statement

The earnings profile has deteriorated sharply: revenue fell materially in 2024 and then dropped further in 2025, indicating a meaningful contraction in demand and/or monetization. Profitability also weakened—after solid profits in 2022–2023, the company reported losses in 2024 and remained loss-making in 2025. Gross margin compressed significantly from earlier years, and while 2025 shows strong EBITDA margin, bottom-line results remain negative, highlighting cost pressure below EBITDA and/or non-operating/headwind items.

Balance Sheet

The balance sheet is a clear support point. Leverage is very low, with debt representing only a small fraction of equity, and equity remains substantial relative to assets. That said, consecutive net losses have reduced equity from prior peaks, and returns on equity turned negative in 2024–2025, signaling that capital is currently not being profitably deployed despite the conservative capital structure.

Cash Flow

Cash generation improved in 2025, with operating cash flow rising strongly versus 2024 and free cash flow turning robust and positive. Cash flow also compares favorably to reported net losses in 2025, suggesting non-cash charges and/or working-capital benefits are supporting cash conversion. The main concern is volatility: 2024 free cash flow weakened sharply before rebounding in 2025, which reduces confidence in durability until revenue and profitability stabilize.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	199.89M	131.90M	243.02M	326.36M	276.06M	149.98M
Gross Profit	23.56M	-7.87M	45.67M	84.64M	74.76M	96.11M
EBITDA	16.66M	45.91M	-12.69M	50.04M	45.20M	27.45M
Net Income	-27.34M	-12.40M	-27.85M	31.84M	29.05M	17.82M
Balance Sheet
Total Assets	94.00M	74.00M	98.14M	154.68M	135.10M	96.27M
Cash, Cash Equivalents and Short-Term Investments	19.99M	30.80M	11.92M	15.74M	16.80M	7.30M
Total Debt	3.07M	1.85M	3.64M	4.32M	11.75M	8.53M
Total Liabilities	20.66M	13.10M	27.03M	51.59M	53.79M	36.71M
Stockholders Equity	73.33M	60.90M	71.20M	103.18M	81.37M	59.53M
Cash Flow
Free Cash Flow	17.35M	22.53M	3.47M	19.68M	14.24M	17.48M
Operating Cash Flow	17.38M	22.64M	8.75M	30.39M	23.80M	20.77M
Investing Cash Flow	-2.77M	-2.10M	-5.28M	-11.76M	-8.40M	-4.79M
Financing Cash Flow	-3.42M	-1.67M	-7.15M	-12.79M	-7.70M	-14.60M

Cliq Digital AG Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.37
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:CLIQ, the sentiment is Positive. The current price of 1.37 is below the 20-day moving average (MA) of 1.93, below the 50-day MA of 1.89, and below the 200-day MA of 2.80, indicating a neutral trend. The MACD of 0.31 indicates Negative momentum. The RSI at 70.16 is Negative, neither overbought nor oversold. The STOCH value of 86.77 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:CLIQ.

Cliq Digital AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KA8	66 Neutral	€14.86M	-7.86	29.87%	4.87%	-0.74%	31.08%
EDL	65 Neutral	€121.06M	7.16	21.56%	6.85%	-0.48%	-13.65%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
APM	60 Neutral	€66.66M	40.00	9.29%	―	90.24%	289.96%
CLIQ	49 Neutral	€15.72M	-0.37	-18.27%	5.87%	―	―
PAL	45 Neutral	€31.25M	-5.29	183.09%	―	―	―