Claranova SA (CLA) AI Stock Analysis

• Market Cap: €81.23M
• Dividend Yield: N/A
• Average Volume (3M): 125.38K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.42
• Revenue Growth: -0.95%
• EPS Growth: 49.19%
• Country: FR
• Employees: 772
• Sector: Technology
• Sector Strength: 88
• 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: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: 78.08% 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: €1.50 ▲(2.74% Upside)

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

Diversified recurring revenue streams

Claranova's mix of software sales, subscriptions and cloud/e‑commerce services provides multiple, partly recurring revenue channels. Structurally this reduces single-product dependence, aids cash predictability and supports cross-sell opportunities over the medium term.

Improved leverage (debt-to-equity 1.21)

A lower debt-to-equity ratio (1.21) indicates the company has reduced leverage pressure versus past levels. Durable improvement in leverage enhances financial flexibility, lowers solvency risk and makes it easier to fund strategic initiatives or withstand revenue variability.

Strong operating cash conversion

An operating cash flow to net income ratio of 0.82 shows earnings are substantially backed by cash, not just accruals. This cash quality supports working capital needs and short-term resilience while management pursues profitability recovery or invests in product development.

Negative Factors

Severe revenue decline

A 75.86% revenue drop is a structural red flag: it erodes scale economies, weakens customer retention signals and stresses fixed-cost absorption. Such a dramatic decline complicates margin recovery and limits the company's ability to execute medium-term growth plans without material strategy shifts.

Negative net margins and net losses

A -24.32% net margin indicates persistent unprofitability that will constrain reinvestment and reduce retained earnings. Over months this undermines balance sheet strength, increases reliance on external financing, and makes sustained product or market investments harder to fund.

Declining free cash flow

A 33.71% decline in free cash flow growth reduces financial flexibility and the ability to fund R&D, sales or capex internally. If sustained alongside falling revenue, negative FCF trends heighten refinancing risk and can force cost cutting that impairs long-term competitiveness.

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

Claranova SA demonstrates a mixed financial health profile with improvements in operational efficiency but faces significant challenges with profitability and balance sheet stability. The high leverage and negative equity are concerning, while inconsistent revenue growth and volatile cash flow suggest operational risks.

Income Statement

Claranova SA shows a mixed performance on its income statement. The gross profit margin has improved over the years, indicating better cost management. However, the net profit margin remains negative, primarily due to consistent net losses. Revenue growth has been inconsistent, and the latest figures show a decline compared to previous years. Margins such as EBIT and EBITDA have shown some improvement, but the negative net income impacts the overall profitability.

Balance Sheet

The balance sheet of Claranova SA presents significant challenges. The debt-to-equity ratio is high due to negative stockholders' equity, highlighting financial instability and potential leverage risks. The equity ratio is negative, indicating liabilities exceed assets. This is concerning for potential investors looking for financial stability. Although the company has a reasonable asset base, the high debt levels and negative equity are critical weaknesses.

Cash Flow

Claranova SA's cash flow statements indicate improvements in operating cash flow, showing better cash generation from core operations. However, the free cash flow has been volatile, with significant negative figures in some periods. The company has managed to maintain positive free cash flow recently, but the overall cash flow to net income ratios suggest inefficiencies in converting earnings to cash. Despite this, there is potential for cash flow stability if operational improvements continue.

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: Positive
• Last Price: 1.46
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:CLA, the sentiment is Positive. The current price of 1.46 is above the 20-day moving average (MA) of 1.31, above the 50-day MA of 1.41, and below the 200-day MA of 2.03, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 56.13 is Neutral, neither overbought nor oversold. The STOCH value of 65.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:CLA.

Claranova SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALPRO	80 Outperform	€202.99M	7.34	―	―	21.73%	―
COH	76 Outperform	€82.44M	22.24	18.06%	0.55%	6.71%	7.79%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
ALSTW	61 Neutral	€204.84M	36.53	21.37%	―	14.04%	24.09%
CLA	44 Neutral	€81.23M	-24.43	―	―	-0.95%	49.19%