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LightOn S.A.
(ALTAI)
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Rating:41Neutral
Price Target:
€4.00
▲(1.52% Upside)
Action:Reiterated
Date:07/30/26
The score is primarily held down by weak financial performance, with sharp profitability deterioration and significant cash burn in 2024–2025 despite some revenue rebound. Technicals also remain unfavorable, as the stock trades well below its 20/50/100/200-day moving averages. Valuation support is limited due to unavailable/unclear P/E and dividend yield signals in the provided data.
Positive Factors
Strategic AI Focus
LightOn's concentration on generative AI and LLM solutions tailored for enterprise and regulated use cases targets a structural growth market where privacy, compliance, and on-premise control are increasingly required. This specialization can create higher-value, sticky contracts and differentiated product positioning over the medium term.
Negative Factors
Profitability Collapse
The shift to negative gross profit shows the business currently fails to cover direct costs, indicating broken unit economics. Structurally weak margins undermine sustainable free cash generation and require meaningful pricing, cost restructuring, or product repositioning to restore durable profitability and fund future growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic AI Focus
LightOn's concentration on generative AI and LLM solutions tailored for enterprise and regulated use cases targets a structural growth market where privacy, compliance, and on-premise control are increasingly required. This specialization can create higher-value, sticky contracts and differentiated product positioning over the medium term.
Read all positive factors
LightOn S.A. (ALTAI) vs. iShares MSCI France ETF (EWQ)
Market Cap
€27.41M
Dividend YieldN/A
Average Volume (3M)30.32K
Price to Earnings (P/E)―
Beta (1Y)0.99
Revenue Growth54.12%
EPS Growth-46.16%
CountryFR
Employees33
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.00
Shares Outstanding7,289,149
10 Day Avg. Volume12,844
30 Day Avg. Volume30,315
Financial Highlights & Ratios
PEG Ratio-0.10
Price to Book (P/B)7.89
Price to Sales (P/S)18.49
P/FCF Ratio-4.04
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)-0.81
Revenue Forecast (FY)€4.10M
LightOn S.A. Business Overview & Revenue Model
Company Description
LightOn SAS, a Paris-based company founded in 2016 by Igor Carron, Laurent Daudet, Florent Krzakala, and Sylvain Gigan, creates secure and tailored generative artificial intelligence solutions designed to boost enterprise productivity and competit...
How the Company Makes Money
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LightOn S.A. Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 1.74M | 1.13M | 7.97M | 1.85M |
| Gross Profit | -2.62M | -1.64M | 6.36M | 969.00K |
| EBITDA | -6.58M | -4.23M | 4.08M | 159.00K |
| Net Income | -7.39M | -4.81M | 3.74M | -133.00K |
Balance Sheet | ||||
| Total Assets | 8.30M | 15.22M | 7.18M | 3.00M |
| Cash, Cash Equivalents and Short-Term Investments | 3.91M | 12.05M | 4.59M | 531.00K |
| Total Debt | 69.00K | 184.00K | 1.76M | 1.83M |
| Total Liabilities | 4.22M | 3.75M | 2.79M | 2.27M |
| Stockholders Equity | 4.08M | 11.47M | 4.38M | 740.00K |
Cash Flow | ||||
| Free Cash Flow | -7.97M | -2.86M | 3.94M | -424.00K |
| Operating Cash Flow | -7.91M | -2.80M | 3.97M | -416.00K |
| Investing Cash Flow | -114.00K | -60.00K | 144.00K | -203.00K |
| Financing Cash Flow | -112.00K | 10.32M | -53.00K | 755.00K |
LightOn S.A. Technical Analysis
Negative
3.94
Price Trends
5.21
Negative
4.77
Negative
5.26
Negative
Market Momentum
-0.38
Negative
39.75
Neutral
23.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALTAI, the sentiment is Negative. The current price of 3.94 is below the 20-day moving average (MA) of 4.14, below the 50-day MA of 5.21, and below the 200-day MA of 5.26, indicating a bearish trend. The MACD of -0.38 indicates Negative momentum. The RSI at 39.75 is Neutral, neither overbought nor oversold. The STOCH value of 23.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALTAI.
LightOn S.A. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | €3.55B | 11.94 | 14.63% | 3.42% | 1.62% | 12.95% | |
70 Outperform | €18.19B | 13.54 | 10.95% | 3.78% | 6.23% | -11.48% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | €128.31M | 44.44 | 4.37% | ― | -6.45% | 322.15% | |
42 Neutral | €553.00M | -0.47 | 319.82% | ― | -14.39% | -173.10% | |
41 Neutral | €27.41M | ― | ― | ― | 54.12% | -46.16% |
* General Sector Average
FR:ALTAI
LightOn S.A.
3.89
-6.19
-61.41%
FR:ATO
Atos SE
28.66
-14.50
-33.60%
FR:CAP
Capgemini SE
110.35
-10.71
-8.84%
FR:SOP
Sopra Steria
185.80
18.59
11.12%
FR:ALKEY
Keyrus SA
8.00
0.32
4.17%
FR:MLCHE
Cheops Technology SA
55.50
-7.50
-11.90%
LightOn S.A. Corporate Events
LightOn lifts first-half revenue 51% but trims cash runway outlook
Jul 28, 2026
LightOn reported first-half 2026 revenue of €1.1 million, a 51% year-on-year increase driven mainly by growth in France and strong demand for its Paradigm licenses and associated services. License sales rose 34%, services revenue multiplied ...
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.