Claranova SA (CLA) AI Stock Analysis

• Market Cap: €70.64M
• Dividend Yield: N/A
• Average Volume (3M): 125.38K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.44
• Revenue Growth: -0.95%
• EPS Growth: 49.19%
• Country: FR
• Employees: 772
• Sector: General
• Sector Strength: N/A
• Industry: Software - Application
• EPS (TTM): N/A
• Shares Outstanding: 57,206,910
• 10 Day Avg. Volume: 205,406
• 30 Day Avg. Volume: 125,375
• PEG Ratio: -0.03
• Price to Book (P/B): 3.52
• Price to Sales (P/S): 1.23
• P/FCF Ratio: 6.18
• 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: €2.60
• Price Target Upside: 109.68% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: €1.00 ▼(-19.35% Downside)

The score is driven mainly by weak financial performance (sharp revenue decline and net losses), with only partial offsets from improved leverage and operating cash flow quality. Technicals are mixed but still broadly below key longer-term moving averages with negative MACD, and valuation is not supportive given the negative P/E and no dividend yield.

Positive Factors

Improved leverage

A lower debt-to-equity ratio (1.21) signals improved leverage management, reducing financial distress risk and interest burden. This structural improvement increases balance-sheet flexibility to fund operations or strategic investments without immediate reliance on dilutive equity or expensive refinancing.

Operating cash flow quality

An 0.82 operating cash flow to net income ratio indicates core operations are generating cash more closely aligned with accounting losses. Sustained cash conversion supports working capital, capex and liquidity, giving management time to restore profitability without an immediate cash crisis.

Diversified recurring revenue streams

Multiple revenue streams—software licensing, subscriptions, cloud hosting and e-commerce—provide structural resilience. Recurring subscription and cloud fees increase revenue predictability and customer stickiness, enabling cross-sell and margin improvement over time as scale and retention rise.

Negative Factors

Severe revenue decline

A 75.86% revenue collapse and negative net margin (-24.32%) reflect deep demand or execution problems that impair scale economics. Such a steep structural decline undermines pricing power, destroys fixed-cost absorption, and makes sustainable profit recovery materially harder over the medium term.

Weak free cash flow trajectory

Negative FCF growth (-33.71%) signals declining ability to fund operations and invest from internal cash. Persistently weakening free cash flow raises reliance on external financing, increases dilution or leverage risk, and limits capacity to execute on strategic initiatives or weather downturns.

Thin equity base & negative ROE

A low equity ratio (30.20%) and negative ROE indicate a thin capital cushion and capital destruction. Structurally, this limits borrowing capacity, increases insolvency vulnerability during stress, and constrains the company’s ability to pursue growth or absorb shocks without dilutive or costly funding.

Claranova SA Business Overview & Revenue Model

Company Description

Claranova SE engages in the internet, mobile, and internet of things businesses in the Unites States, the United Kingdom, Germany, France, India, other European countries, and internationally. It operates in three segments: PlanetArt, Avanquest, and myDevices. The PlanetArt segment offers FreePrints Photobooks for photo albums; FreePrints Photo Tiles for wall decorations; FreePrints Cards for greeting cards; FreePrints Gifts for personalized goods; Personal Creations' for personalized gifts; and CafePress' for personalized products, such as T-shirts, mugs, and tote bags. The Avanquest segment provides the antivirus, ad blocker, cleaning, and optimization tools sold under the Adaware brand; document management tools under the SodaPDF brand name; and photo editor software and apps under the inPixio brand. This segment also provides SignPDF, a new digital signature solution. The myDevices segment offers myDevices, an application platform that provides a range of IoT solutions for the management of assets. The company was formerly known as Avanquest S.A. and changed its name to Claranova S.E. in June 2017. Claranova SE was founded in 1984 and is based in La Garenne-Colombes, France.

How the Company Makes Money

Claranova generates revenue through multiple streams, including software sales, subscription services, and e-commerce solutions. The company offers its software products under various licensing models, allowing customers to either purchase outright or subscribe for ongoing access. Additionally, Claranova's cloud services provide recurring revenue through subscription fees for hosting and support. Strategic partnerships with other technology firms and service providers also contribute to its earnings, as these collaborations can enhance product offerings and expand customer reach. The company's ability to innovate and adapt to market demands plays a critical role in sustaining its revenue growth.

Claranova SA Financial Statement Overview

Summary

Financials are weak: revenue fell 75.86% and net margin is -24.32%, indicating ongoing profitability pressure. Offsetting factors include improved leverage (debt-to-equity 1.21) and relatively supportive operating cash flow vs. net income (0.82), but free cash flow growth is negative (-33.71%).

Income Statement

Claranova SA's income statement reveals significant challenges. The company experienced a drastic revenue decline of 75.86% in the most recent year, leading to a negative net profit margin of -24.32%. Although the EBIT margin improved to 17.63%, the overall profitability remains a concern due to consistent net losses.

Balance Sheet

The balance sheet shows a mixed picture. While the debt-to-equity ratio improved to 1.21, indicating better leverage management, the equity ratio remains low at 30.20%, reflecting potential financial instability. The return on equity is negative, highlighting profitability issues.

Cash Flow

Cash flow analysis indicates some positive aspects, such as a strong operating cash flow to net income ratio of 0.82. However, the free cash flow growth rate is negative at -33.71%, suggesting challenges in generating free cash flow.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	488.90M	118.00M	496.00M	507.00M	473.60M	470.70M
Gross Profit	62.90M	34.50M	57.00M	40.30M	37.10M	43.90M
EBITDA	45.60M	16.50M	41.00M	27.10M	28.30M	32.50M
Net Income	-4.70M	-28.70M	-12.00M	-10.60M	-10.50M	9.50M
Balance Sheet
Total Assets	288.40M	136.10M	228.40M	264.40M	270.10M	225.10M
Cash, Cash Equivalents and Short-Term Investments	96.60M	5.60M	37.00M	66.80M	100.30M	90.40M
Total Debt	171.80M	49.70M	151.60M	191.90M	184.70M	72.70M
Total Liabilities	306.50M	96.30M	236.10M	280.80M	268.20M	142.90M
Stockholders Equity	-16.90M	41.10M	-9.90M	-19.30M	-1.40M	66.00M
Cash Flow
Free Cash Flow	35.30M	23.40M	34.50M	-1.60M	13.90M	14.90M
Operating Cash Flow	36.90M	23.50M	39.70M	9.30M	16.10M	18.70M
Investing Cash Flow	-26.60M	74.20M	-5.10M	-31.80M	-73.60M	-10.10M
Financing Cash Flow	-15.50M	-128.40M	-64.70M	-10.00M	62.40M	-2.80M

Claranova SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.24
• 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:CLA, the sentiment is Negative. The current price of 1.24 is below the 20-day moving average (MA) of 1.36, below the 50-day MA of 1.34, and below the 200-day MA of 1.96, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 35.83 is Neutral, neither overbought nor oversold. The STOCH value of 7.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:CLA.

Claranova SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
COH	73 Outperform	€86.71M	23.39	18.06%	0.55%	6.71%	7.79%
ALSTW	61 Neutral	€208.71M	37.53	21.37%	―	14.04%	24.09%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
CLA	44 Neutral	€70.64M	-19.97	―	―	-0.95%	49.19%