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Exasol AG
(XETRA:EXL)
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Rating:72Outperform
Price Target:
€2.00
▼(-0.50% Downside)
Action:Reiterated
Date:05/19/26
The score is primarily driven by improving financial performance (rapid recent revenue growth, return to profitability, and positive free cash flow) alongside a very low-leverage balance sheet. Technicals are constructive but not fully aligned with a long-term uptrend given the position versus the 200-day average. Valuation is supported by a modest P/E, with no dividend yield data to add further support.
Positive Factors
Accelerating Revenue Growth
Sustained and accelerating top-line growth over consecutive years signals improving product-market fit and stronger demand for Exasol's analytics platform. This durable revenue momentum supports scale economics, creates runway for reinvestment in product and sales, and underpins longer-term margin expansion if maintained.
Negative Factors
Thin Margins and Profitability Fragility
Although net income turned positive, margins are still slim and the company has a recent history of deep losses. Thin margins make profits sensitive to cost inflation, slower revenue, or increased sales/marketing spend, reducing the margin of safety and making durable profitability dependent on continued revenue scale and tight cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Revenue Growth
Sustained and accelerating top-line growth over consecutive years signals improving product-market fit and stronger demand for Exasol's analytics platform. This durable revenue momentum supports scale economics, creates runway for reinvestment in product and sales, and underpins longer-term margin expansion if maintained.
Read all positive factors
Exasol AG (EXL) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€51.52M
Dividend YieldN/A
Average Volume (3M)20.14K
Price to Earnings (P/E)17.7
Beta (1Y)0.81
Revenue Growth5.55%
EPS Growth1209.30%
CountryDE
Employees160
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.11
Shares Outstanding26,882,757
10 Day Avg. Volume8,688
30 Day Avg. Volume20,145
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)9.63
Price to Sales (P/S)1.77
P/FCF Ratio19.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.09
Revenue Forecast (FY)€39.85M
Exasol AG Business Overview & Revenue Model
Company Description
Exasol AG specializes in crafting high-performance database solutions tailored for analytical processing and data warehousing needs. Its operations span multiple regions, including Germany, Austria, Switzerland, the United Kingdom, and North Ameri...
How the Company Makes Money
Exasol primarily makes money by selling commercial rights to use its analytics database software and related services. The core revenue stream is software licensing/subscription revenue from customers that deploy Exasol in their data warehouse/ana...
Exasol AG Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
82
Very Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 41.83M | 39.63M | 35.14M | 33.19M | 27.46M |
| Gross Profit | 10.82M | 8.61M | 2.88M | -1.54M | -15.61M |
| EBITDA | 3.09M | 2.33M | -5.56M | -12.17M | -25.63M |
| Net Income | 2.99M | 229.34K | -8.22M | -15.01M | -29.30M |
Balance Sheet | |||||
| Total Assets | 22.67M | 19.20M | 20.00M | 23.20M | 41.50M |
| Cash, Cash Equivalents and Short-Term Investments | 18.71M | 14.95M | 13.34M | 12.73M | 27.21M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 29.30K |
| Total Liabilities | 14.97M | 14.63M | 15.60M | 17.73M | 22.47M |
| Stockholders Equity | 7.70M | 4.57M | 4.40M | 5.47M | 19.03M |
Cash Flow | |||||
| Free Cash Flow | 3.84M | 1.56M | -6.28M | -14.64M | -40.48M |
| Operating Cash Flow | 4.40M | 1.74M | -6.18M | -14.36M | -36.03M |
| Investing Cash Flow | -554.00K | 1.19M | -1.10M | -281.00K | 31.07M |
| Financing Cash Flow | 4.00K | -4.00K | 6.90M | 139.00K | -1.82M |
Exasol AG Technical Analysis
Negative
2.01
Price Trends
2.21
Negative
2.20
Negative
2.37
Negative
Market Momentum
-0.06
Negative
43.91
Neutral
16.34
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:EXL, the sentiment is Negative. The current price of 2.01 is below the 20-day moving average (MA) of 2.05, below the 50-day MA of 2.21, and below the 200-day MA of 2.37, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 43.91 is Neutral, neither overbought nor oversold. The STOCH value of 16.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:EXL.
Exasol AG Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | €1.43B | 27.89 | 62.04% | 3.00% | 12.01% | 11.51% | |
75 Outperform | €154.00M | 14.58 | 27.13% | 3.75% | 3.67% | 18.47% | |
73 Outperform | €600.76M | 13.57 | 26.73% | ― | 15.28% | 111.02% | |
72 Outperform | €209.34B | 26.38 | 17.98% | 1.78% | 6.42% | 22.22% | |
72 Outperform | €51.52M | 17.72 | 43.56% | ― | 5.55% | 1209.30% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
53 Neutral | €156.97M | 62.29 | 5.37% | ― | 12.98% | 375.18% |
* Technology Sector Average
DE:EXL
Exasol AG
2.00
-1.11
-35.65%
DE:AOF
ATOSS Software
91.90
-14.16
-13.35%
DE:SAP
SAP SE
180.70
-54.31
-23.11%
DE:SHF
SNP Schneider Neureither & Partner AG (Schneider Neureither & Partner AG)
82.80
9.80
13.42%
DE:SJJ
Serviceware SE
14.80
-5.05
-25.44%
DE:FAA
Fabasoft AG
14.00
-1.08
-7.16%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.