Acconeer AB (ACCON) AI Stock Analysis

• Market Cap: kr818.96M
• Dividend Yield: N/A
• Average Volume (3M): 309.09K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.31
• Revenue Growth: -1.32%
• EPS Growth: 51.89%
• Country: SE
• Employees: 52
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): -0.08
• Shares Outstanding: 73,121,530
• 10 Day Avg. Volume: 343,756
• 30 Day Avg. Volume: 309,094
• PEG Ratio: 0.89
• Price to Book (P/B): 3.62
• Price to Sales (P/S): 16.03
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.79
• Revenue Forecast (FY): kr120.30M

• Rating: 47 Neutral
• Price Target: kr11.50 ▼(-3.36% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is held back mainly by ongoing losses and negative operating cash flow despite strong revenue growth and a debt-free, equity-rich balance sheet. Technically, the stock shows weak near-term momentum (below key short-term moving averages with negative MACD), while valuation is constrained by negative earnings and the lack of dividend support.

Positive Factors

Debt-free Balance Sheet

A debt-free, equity-rich balance sheet gives Acconeer durable financial flexibility to fund R&D, support customers and absorb near-term losses without interest burdens. This lowers solvency risk, preserves optionality for partnerships or selective investment as the business scales.

Sustained Revenue Growth

Consistent double-digit revenue growth shows ongoing commercial traction and product adoption across IoT and embedded markets. Over a multi-month horizon, sustained top-line expansion supports operational leverage, stronger OEM relationships and the potential to convert design-wins into repeatable production revenue.

Improving Margins

Material margin improvement and narrowing net losses indicate improving unit economics and cost control. If this trend persists, revenue growth can more readily translate into positive EBITDA and free cash flow, creating a sustainable path toward break-even and internal funding of growth initiatives.

Negative Factors

Negative Operating Cash Flow

Persistent negative operating cash flow demonstrates the business still burns cash while scaling. Without a durable shift to positive OCF, Acconeer will remain reliant on existing liquidity or external financing, raising dilution or funding-risk concerns that can constrain R&D, inventory and go-to-market investments.

Ongoing Operating & Net Losses

Continued operating and net losses show the company has not yet achieved profitable operating scale. Sustained losses can erode equity over time, limit reinvestment capacity, and increase execution pressure to convert pilots into volume shipments that are margin-accretive.

Revenue Reliant on Design-Wins

Heavy dependence on winning customer designs and then scaling to mass production creates lumpiness and long lead times in revenue. This structural concentration and timing risk can produce volatile cash flows, making operational planning and steady margin improvement more challenging.

Acconeer AB Business Overview & Revenue Model

Company Description

Acconeer AB (publ) develops radar sensing solutions worldwide. It offers A1 radar sensor, a high precision pulsed short-range radar sensor that is delivered as a one chip system in package solution with embedded radio and antenna for detecting various objects at close range with single measurements, as well as continuous sweeps set to any frequency up to 1500 Hz. The company also provides XM132 entry module, an integration-ready radar module with optimized for selected use cases; XM122 Internet of Things (IoT) module, a low power connected radar module with optimized circular form factor; XM112 pulsed coherent radar module that offers high precision distance measurement with mm accuracy and high update rate frequency; X112, a development kit, which includes a connector board and a radar sensor board for the development of applications; and A1 software development kit that includes radar sensor services, detectors, and application programming interface. Acconeer AB (publ) has a collaboration agreement with Alps Alpine for the research and development of pulsed coherent radar, A2. Its products are used in robot, consumer electronics, IoT, industrial and agriculture, healthcare and fitness, and automotive applications. The company was founded in 2011 and is headquartered in Malmö, Sweden.

How the Company Makes Money

Acconeer AB makes money through the sale of its proprietary radar sensor products and technology licensing. The company generates revenue by selling its sensors to manufacturers and developers who integrate these sensors into their own products, such as smartphones, IoT devices, and vehicles. Additionally, Acconeer licenses its technology to partners, allowing them to use its patented technologies in their own applications, which provides a recurring revenue stream. The company also engages in strategic partnerships and collaborations to expand its market reach and enhance its technology offerings, contributing to its revenue growth.

Acconeer AB Financial Statement Overview

Summary

Strong revenue growth is a positive, and the balance sheet is solid with no debt and high equity. However, profitability remains weak with ongoing operating and net losses, and operating cash flow is still negative, indicating continued cash burn.

Income Statement

Revenue is growing strongly (2024: +44.5%, 2025: +18.0%), indicating improving commercial traction. Gross profit remains solid, but profitability is still weak with continued operating losses (EBIT and EBITDA negative each year) and net losses persisting through 2025. Margins improved materially versus 2023–2024 levels as losses narrowed (net loss reduced from -31.5M in 2024 to -20.1M in 2025), but the company is not yet close to break-even.

Balance Sheet

The balance sheet is a clear strength: the company carries no debt in 2024–2025 and has a sizable equity base (equity 2025: 256.5M vs. assets 274.5M), which provides financial flexibility. That said, recurring net losses are weighing on returns (return on equity was negative in the years provided, e.g., 2024), and sustained losses could erode equity over time if not offset by improved operating performance.

Cash Flow

Cash generation remains pressured with operating cash flow negative across the period (2025: -20.3M; 2024: -32.1M), reflecting continued cash burn despite some improvement year over year. Free cash flow was deeply negative in 2021–2024, and while 2025 shows free cash flow at 0, the broader trend still suggests the business has not consistently funded itself internally and remains reliant on existing liquidity/capital access until profitability improves.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	49.03M	57.87M	51.32M	35.52M	46.83M	31.16M
Gross Profit	31.52M	30.39M	32.87M	25.57M	30.87M	25.33M
EBITDA	-23.78M	-20.30M	-23.77M	-43.10M	-45.38M	-39.70M
Net Income	-27.24M	-20.15M	-31.48M	-46.50M	-47.10M	-51.17M
Balance Sheet
Total Assets	280.63M	274.54M	251.18M	199.22M	190.68M	223.22M
Cash, Cash Equivalents and Short-Term Investments	69.57M	43.37M	53.76M	38.65M	89.88M	156.86M
Total Debt	0.00	0.00	0.00	27.45M	0.00	0.00
Total Liabilities	18.93M	18.06M	23.46M	66.93M	19.16M	23.53M
Stockholders Equity	261.69M	256.47M	227.72M	132.29M	171.51M	199.70M
Cash Flow
Free Cash Flow	-45.90M	0.00	-32.09M	-85.99M	-85.94M	-55.66M
Operating Cash Flow	-42.68M	-20.33M	-32.09M	-49.35M	-62.53M	-42.59M
Investing Cash Flow	-46.38M	-38.96M	-52.27M	-36.64M	-23.41M	-13.06M
Financing Cash Flow	49.61M	48.90M	99.47M	34.76M	18.97M	130.34M

Acconeer AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 11.90
• 50DMA: Positive
• 100DMA: Positive
• 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:ACCON, the sentiment is Positive. The current price of 11.9 is above the 20-day moving average (MA) of 11.18, above the 50-day MA of 11.57, and above the 200-day MA of 7.71, indicating a bullish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 55.89 is Neutral, neither overbought nor oversold. The STOCH value of 70.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ACCON.

Acconeer AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SGG	61 Neutral	kr437.00M	-53.38	―	―	9.96%	-176.74%
FING.B	49 Neutral	kr61.16M	-1.74	-37.93%	―	-82.93%	94.83%
ACCON	47 Neutral	kr818.96M	-40.12	-9.00%	―	-1.32%	51.89%
GPX	45 Neutral	kr62.85M	-8.52	―	―	-15.54%	-263.54%
INSP	41 Neutral	kr3.83M	-0.12	-93.13%	―	-0.75%	65.47%