Acast AB (ACAST) AI Stock Analysis

• Market Cap: kr4.64B
• Dividend Yield: N/A
• Average Volume (3M): 296.07K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.31
• Revenue Growth: 26.82%
• EPS Growth: 76.68%
• Country: SE
• Employees: 409
• Sector: Communication Services
• Sector Strength: 97
• Industry: Entertainment
• EPS (TTM): 0.29
• Shares Outstanding: 182,465,260
• 10 Day Avg. Volume: 215,746
• 30 Day Avg. Volume: 296,073
• PEG Ratio: 0.22
• Price to Book (P/B): 5.28
• Price to Sales (P/S): 2.48
• P/FCF Ratio: -1.54K
• 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: kr29.99
• Price Target Upside: 17.84% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.8
• Revenue Forecast (FY): kr2.89B

• Rating: 52 Neutral
• Price Target: kr26.00 ▲(2.16% Upside)
• Action: Reiterated Date: 02/28/26
• Date: Action: Reiterated 02/28/26

The score is held up by improving fundamentals (scaled revenue, stabilized gross margins, and a relatively conservative balance sheet), but is constrained by inconsistent profitability and weaker 2025 free cash flow, alongside bearish technical signals (below key moving averages and negative MACD) and loss-making valuation (negative P/E).

Positive Factors

Revenue scale & growth

Sustained multi-year revenue scaling indicates durable demand for Acast’s platform and ad inventory. Larger scale enhances pricing power with advertisers, improves fill rates, and spreads fixed platform costs, supporting long-term margin recovery and competitive positioning as the podcast market grows.

Gross margin stabilization

A stable gross margin near 39% shows improved unit economics in monetization and ad operations. Consistent gross margins provide room to invest in product and sales while aiming for operating leverage, making profitability easier to achieve if revenue growth persists and operating costs are controlled.

Positive operating cash flow

Recurring positive operating cash flow demonstrates the core business can convert revenue to cash, reducing reliance on financing for day-to-day operations. This cash generation supports reinvestment in platform capabilities, advertiser relationships, and product development over the medium term.

Negative Factors

Inconsistent profitability

The shift back to a net loss after a profitable year signals volatility in converting scale into sustained operating profits. Persistent swings in net margin reduce predictability for reinvestment and can hinder long-term planning unless structural cost or revenue-mix improvements are implemented.

Free cash flow weakness

A move to slightly negative free cash flow curtails the company’s ability to self-fund growth and strategic initiatives. Over a multi-month horizon this may elevate dependence on external financing and limit flexibility to invest in product or sales until FCF reverts sustainably positive.

Upward debt trend

Although leverage remains moderate, the increase in debt concurrent with renewed losses raises refinancing and interest burden risk. If profitability and FCF do not stabilize, even modest leverage could constrain capital allocation and increase financial pressure over the medium term.

Acast AB Business Overview & Revenue Model

Company Description

Acast AB (publ) operates a podcast marketplace worldwide. The company connects podcasters and advertisers through its podcast marketplace that offers reach to podcast listeners with host-front advertising campaigns, audio ads, and branded content. It allows advertisers to target an engaged audience of listeners through ad insertion; and offers podcasters a range of monetization opportunities and tools to expand their listener base. As of June 7, 2021, the company had approximately 28,000 hosted shows with approximately 3 billion listens. Acast AB (publ) was founded in 2014 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Acast generates revenue primarily through advertising sales, where it earns money by facilitating ad placements within podcasts. The company uses dynamic ad insertion technology to deliver targeted ads, allowing advertisers to reach specific audiences effectively. Additionally, Acast offers subscription services and premium content options for listeners, providing an alternative revenue stream. The company partners with various podcast creators and networks, enhancing its content library and increasing its appeal to advertisers. These partnerships, combined with its technology-driven approach to monetization, play a significant role in Acast's earnings.

Acast AB Financial Statement Overview

Summary

Strong multi-year revenue scaling and improved gross margin stability (~39% in 2024–2025), supported by manageable leverage (debt-to-equity ~0.20 in 2025). However, profitability is not yet consistent (returned to a net loss in 2025) and free cash flow slipped slightly negative in 2025 after being positive in 2024.

Income Statement

Revenue has scaled materially over time (SEK ~0.6bn in 2020 to ~2.5bn in 2025) with positive growth continuing in 2025 (~6.6%), and gross margin has stabilized around ~39% in 2024–2025 (up from ~32% in 2023). However, profitability is inconsistent: 2024 was profitable (net margin ~4.0%), but 2025 slipped back to a net loss (net margin ~-4.5%) and EBIT remains negative, indicating the business is not yet reliably profitable despite improving unit economics.

Balance Sheet

Leverage looks manageable with low-to-moderate debt versus equity across the period (debt-to-equity ~0.20 in 2025; ~0.11 in 2024), and equity remains sizable relative to total assets. The main watch-out is the upward move in debt in 2025 (vs. 2024) alongside a return to losses, which could pressure the balance sheet if profitability does not re-stabilize.

Cash Flow

Cash generation improved meaningfully versus earlier years, with operating cash flow positive in 2024–2025 (SEK ~34m to ~62m), a major swing from large outflows in 2021–2023. That said, free cash flow weakened in 2025, turning slightly negative (about -SEK 4m) after being positive in 2024 (~SEK 23m), and cash conversion vs. earnings is mixed given the return to a net loss in 2025.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.52B	1.94B	1.64B	1.39B	1.03B
Gross Profit	989.41M	764.20M	520.84M	469.86M	373.48M
EBITDA	-90.67M	25.94M	-95.25M	-219.24M	-267.92M
Net Income	-112.41M	78.22M	-179.68M	-286.38M	-300.39M
Balance Sheet
Total Assets	2.12B	2.01B	1.72B	1.86B	1.86B
Cash, Cash Equivalents and Short-Term Investments	589.33M	713.70M	759.46M	867.76M	1.36B
Total Debt	135.38M	141.15M	21.95M	48.41M	47.23M
Total Liabilities	942.78M	742.34M	580.44M	554.86M	370.17M
Stockholders Equity	1.18B	1.27B	1.14B	1.31B	1.49B
Cash Flow
Free Cash Flow	-4.06M	23.17M	-81.29M	-337.04M	-141.30M
Operating Cash Flow	62.18M	34.39M	-28.14M	-294.28M	-106.58M
Investing Cash Flow	-116.66M	-75.88M	-53.30M	-251.27M	-35.31M
Financing Cash Flow	-27.48M	-22.94M	-25.02M	-27.01M	1.21B

Acast AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 25.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ACAST, the sentiment is Neutral. The current price of 25.45 is below the 20-day moving average (MA) of 25.99, below the 50-day MA of 29.92, and above the 200-day MA of 22.92, indicating a neutral trend. The MACD of -1.59 indicates Negative momentum. The RSI at 41.90 is Neutral, neither overbought nor oversold. The STOCH value of 63.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:ACAST.

Acast AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
G5EN	61 Neutral	kr404.74M	12.96	12.65%	9.28%	-14.68%	-29.97%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
MAGI	56 Neutral	kr143.07M	-11.23	-3.04%	13.12%	-3.51%	-192.91%
ACAST	52 Neutral	kr4.64B	-40.84	-3.84%	―	26.82%	76.68%
VPLAY.B	48 Neutral	kr5.96B	-4.71	-14.56%	―	-5.47%	98.92%
FRAG	44 Neutral	kr55.73M	53.24	-229.41%	―	-10.21%	-1.15%
GCOR	41 Neutral	kr131.48M	-3.10	―	―	32.83%	13.34%

Acast AB Corporate Events

Acast to Power Video Podcast Distribution on Apple Podcasts via HLS

Acast has announced it will be among the first partners to work with Apple to distribute video podcasts to Apple Podcasts using HLS technology this spring. The collaboration will allow Acast to distribute and monetize creators’ video podcast content on Apple’s platform, strengthening Acast’s role as a key infrastructure provider in the rapidly evolving podcast market.

Management framed the move as a defining moment for the medium, broadening opportunities for creators and advertisers and opening new revenue and audience streams. By supporting video on one of the industry’s most influential platforms, Acast aims to reinforce its positioning as a growth engine for modern podcast businesses and to enhance the commercial potential of its creator and brand ecosystem.

The most recent analyst rating on (SE:ACAST) stock is a Hold with a SEK30.00 price target. To see the full list of analyst forecasts on Acast AB stock, see the SE:ACAST Stock Forecast page.

Acast Sets 2026 Reporting Schedule With 2025 Year-End Release

Acast AB released its year-end report for the period 1 January to 31 December 2025, covering the group’s activities, results, and financial position. The company also published its 2026 financial calendar, including dates for quarterly interim reports, the annual report, and the Annual General Meeting, giving investors and stakeholders clear visibility into upcoming disclosures and governance events.

The most recent analyst rating on (SE:ACAST) stock is a Hold with a SEK31.00 price target. To see the full list of analyst forecasts on Acast AB stock, see the SE:ACAST Stock Forecast page.

Acast Secures Exclusive Global Podcast Ad Sales Deal with Slate

Acast AB has signed an exclusive ad sales and distribution partnership with U.S. digital publisher Slate, adding more than 1.5 million weekly listens from Slate’s established podcast network to Acast’s marketplace and reinforcing its growth push in the United States. The deal brings highly engaged, premium news, politics, business, technology and culture audiences – spanning flagship shows such as Political Gabfest and Slow Burn and extending across YouTube and live events – into Acast’s inventory, while leveraging Acast’s global sales infrastructure to connect Slate’s content with advertisers both in the US and internationally, strengthening Acast’s roster of top-tier media brands and broadening monetization opportunities for Slate’s journalism-focused audio portfolio.

The most recent analyst rating on (SE:ACAST) stock is a Hold with a SEK31.00 price target. To see the full list of analyst forecasts on Acast AB stock, see the SE:ACAST Stock Forecast page.

Acast Schedules Webcast for 2025 Year-End Results

Acast AB will publish its year-end report for 2025 on Wednesday 11 February at 07:00 CET and will host an English-language webcast presentation the same day at 10:00 CET, led by CEO Greg Glenday and CFO Anders Hägg. Investors, analysts and media will be able to download the report, follow the webcast, ask questions during the presentation, and access a recording afterward, underscoring Acast’s efforts to maintain transparency and engagement with capital markets and other stakeholders ahead of its full-year financial disclosure.

The most recent analyst rating on (SE:ACAST) stock is a Hold with a SEK30.00 price target. To see the full list of analyst forecasts on Acast AB stock, see the SE:ACAST Stock Forecast page.

Acast Expands Swedish Podcast Footprint With Exclusive Perfect Day Media Ad Sales Deal

Acast has entered an exclusive ad sales and distribution partnership with Perfect Day Media, one of Sweden’s leading podcast and content companies, under which Acast will handle all brand ad sales and distribution for Perfect Day Media’s shows, adding roughly 5 million monthly listens to its network. The agreement deepens Acast’s leadership in the Swedish podcast market by integrating Perfect Day Media’s high-profile portfolio into Acast’s monetization technology, allowing Perfect Day Media to focus on video, brand collaborations and sponsorships, while creating a more efficient, scalable value chain for advertisers, creators and listeners and strengthening the long-term business prospects for both firms within the broader PodX Group ecosystem.

The most recent analyst rating on (SE:ACAST) stock is a Hold with a SEK30.00 price target. To see the full list of analyst forecasts on Acast AB stock, see the SE:ACAST Stock Forecast page.

Acast Buys Wake Word Studios to Expand Creative Footprint in German Podcast Market

Acast has acquired Munich- and Berlin-based Wake Word Studios, a leading creative audio and video studio and original content producer, which will be rebranded as Acast Creative Studios Germany. The deal adds around 50 podcast titles with more than two million monthly listens to the Acast network, brings Wake Word’s Podius media planning platform into the group as an independently run tool, and includes plans to establish world-class podcast studios in Munich. The move significantly strengthens Acast’s position in the fast-growing German podcast advertising market, expands its Acast Creative Studios proposition for omnichannel brand campaigns, and is expected to deliver long-term strategic value in Germany without materially affecting Acast’s near-term financials, while accelerating monetization for German-language creators and offering advertisers enhanced access to premium local audiences.

The most recent analyst rating on (SE:ACAST) stock is a Hold with a SEK35.00 price target. To see the full list of analyst forecasts on Acast AB stock, see the SE:ACAST Stock Forecast page.