Invibes Advertising NV (ALINV) AI Stock Analysis

• Market Cap: €3.33M
• Dividend Yield: N/A
• Average Volume (3M): 6.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.63
• Revenue Growth: -13.31%
• EPS Growth: -375.69%
• Country: FR
• Employees: 177
• Sector: Communication Services
• Sector Strength: 97
• Industry: Advertising Agencies
• EPS (TTM): -0.74
• Shares Outstanding: 4,566,678
• 10 Day Avg. Volume: 9,496
• 30 Day Avg. Volume: 6,290
• PEG Ratio: <0.01
• Price to Book (P/B): 0.57
• Price to Sales (P/S): 0.33
• P/FCF Ratio: -3.50
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: €0.73 ▼(-13.57% Downside)

The score is held back primarily by weak financial performance (declining revenue, negative profitability, and negative free cash flow). Technical indicators provide modest support (neutral-to-mildly positive momentum), but valuation is constrained by a negative P/E and no provided dividend yield.

Positive Factors

Aggregator adtech business model

Invibes operates a durable intermediary model: it aggregates publisher inventory and sells campaign delivery, earning margins on media and services. This structure supports recurring campaign-based revenue, scalable client onboarding, and the potential to leverage network effects as publisher and advertiser relationships deepen.

Relatively strong cash position

A sizeable cash position provides strategic flexibility over the medium term: it buys runway to invest in product, support clients during ad-market volatility, and reduce forced financing. That liquidity lessens immediate solvency risk and supports execution of growth initiatives over the next several quarters.

Reduced leverage vs prior year

Lower leverage improves financial resilience: reduced debt and improved debt-to-equity cut interest burdens and default risk, enabling more predictable cash allocation to operations and product. This strengthens the company’s ability to withstand cyclical ad spend swings and invest in long-term competitive capabilities.

Negative Factors

Declining revenue and profitability

A fall in revenue alongside negative operating profitability signals weakening core economics. Persistent margin erosion undermines reinvestment capacity into product and sales, risks client churn if performance falters, and makes it harder to restore scale without sustained demand or structural cost improvements.

Negative free cash flow and operating cash flow

Continuing negative FCF and operating cash flow are structural constraints: they force reliance on financing or asset sales to fund operations and growth. Over months, this limits the company’s ability to invest in platform development, sales capacity, or new markets, raising execution risk.

Shrinking revenue trend and limited scale

Material negative revenue growth combined with a modest headcount suggests constrained scale. Limited scale reduces bargaining power with large publishers and advertisers, raises per-client fixed costs, and slows product development velocity, making it harder to regain market share and sustainable margins over the medium term.

Invibes Advertising NV Business Overview & Revenue Model

Company Description

Invibes Advertising N.V., a technology company, provides digital advertising services. The company's solutions are supported by an in-feed format that is integrated into media content. It develops its technology to help brands to communicate with consumers. The company's technology is optimized for distributing in a closed network of media sites, including Bertelsmann, Hearst, Unify, Groupe Marie Claire, Axel Springer, and others. Invibes Advertising N.V. was founded in 2011 and is headquartered in Gent, Belgium.

How the Company Makes Money

Invibes Advertising generates revenue primarily through its digital advertising services, which include programmatic and display advertising. The company charges clients based on a cost-per-click (CPC) or cost-per-impression (CPM) model, allowing advertisers to pay only for the actual engagement their ads receive. Additionally, Invibes may offer performance-based pricing models where fees are linked to the effectiveness of the advertising campaigns. Key partnerships with various technology platforms and data providers help enhance their advertising capabilities and reach, contributing to consistent revenue generation. The company also benefits from its ability to provide detailed analytics and reporting, allowing clients to optimize their ad spend and improve campaign outcomes.

Invibes Advertising NV Financial Statement Overview

Summary

Income statement weakness drives the score: revenue declined from 2023 to 2024 and profitability deteriorated, with EBIT/EBITDA turning negative and net margin moving from positive to negative. Balance sheet is mixed with improved leverage and a relatively strong cash position, but lower equity ratio and negative ROE. Cash flow remains a key risk with negative operating cash flow and worsening negative free cash flow.

Income Statement

Invibes Advertising NV has faced challenges in maintaining consistent revenue growth, as evidenced by a decline from 2023 to 2024. The gross profit margin is not meaningful due to a higher gross profit than total revenue, suggesting potential data issues. The net profit margin has deteriorated significantly, moving from a positive figure in 2023 to a negative margin in 2024. Despite a positive EBIT and EBITDA in 2023, both metrics turned negative in 2024, indicating profitability issues.

Balance Sheet

The company's debt-to-equity ratio improved from 2023 to 2024, reflecting reduced leverage as total debt decreased. However, the equity ratio declined, indicating a reduction in stockholders' equity relative to total assets. The return on equity also fell due to negative net income, highlighting profitability concerns. Despite these issues, the company's cash position is relatively strong, with cash and equivalents making up a significant portion of total assets.

Cash Flow

Free cash flow remained negative, with a notable decline from 2023 to 2024, indicating worsening cash flow generation. Although operating cash flow improved slightly, it remains negative, suggesting operational cash generation challenges. The company's cash flow from investing activities improved, but cash flows from financing were negative, possibly reflecting debt repayments or reduced financing activities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	24.60M	26.63M	28.91M	27.97M	23.20M	11.53M
Gross Profit	-5.63M	28.49M	507.00K	-7.49M	358.00K	-349.00K
EBITDA	-3.45M	-2.17M	902.00K	-4.75M	1.33M	112.00K
Net Income	-7.43M	-6.60M	576.00K	-7.91M	421.00K	-736.00K
Balance Sheet
Total Assets	21.89M	28.65M	38.34M	37.81M	27.49M	16.60M
Cash, Cash Equivalents and Short-Term Investments	7.66M	11.62M	16.91M	20.36M	10.09M	6.87M
Total Debt	3.93M	718.00K	7.20M	7.72M	6.72M	5.64M
Total Liabilities	9.63M	13.24M	16.67M	16.76M	16.57M	10.72M
Stockholders Equity	12.31M	15.45M	21.70M	21.08M	10.92M	6.09M
Cash Flow
Free Cash Flow	-5.31M	-2.52M	-2.29M	-6.30M	-2.04M	-1.35M
Operating Cash Flow	-3.04M	-317.00K	-266.00K	-3.37M	136.00K	624.00K
Investing Cash Flow	4.93M	1.78M	-15.06M	-2.80M	-2.22M	-1.98M
Financing Cash Flow	-1.91M	-2.21M	-1.75M	17.24M	4.27M	3.54M

Invibes Advertising NV Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.84
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALINV, the sentiment is Negative. The current price of 0.84 is above the 20-day moving average (MA) of 0.84, above the 50-day MA of 0.81, and below the 200-day MA of 0.96, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.36 is Neutral, neither overbought nor oversold. The STOCH value of 13.71 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALINV.

Invibes Advertising NV Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALNXT	69 Neutral	€15.68M	9.14	5.06%	―	-2.25%	54.93%
ALDUX	65 Neutral	€12.04M	3.47	216.14%	―	-0.08%	23.11%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
ALINV	49 Neutral	€3.33M	-0.45	―	―	-13.31%	-375.69%