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Anoto Group AB (SE:ANOT)
:ANOT

Anoto Group AB (ANOT) AI Stock Analysis

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SE:ANOT

Anoto Group AB

(ANOT)

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Neutral 46 (OpenAI - 5.2)
Rating:46Neutral
Price Target:
kr0.08
▲(50.00% Upside)
Action:ReiteratedDate:03/31/26
The score is held down primarily by very weak financial performance (large losses, shrinking revenue, heavy ongoing cash burn, and sharply reduced equity increasing balance-sheet risk). Technicals are a partial offset with strong momentum above major moving averages, but the extremely overbought RSI adds near-term risk. Valuation provides limited support given the negative P/E and no dividend yield.
Positive Factors
Gross margin resilience
Despite falling revenue and large operating losses, the business retains a meaningful gross margin (~51% TTM). Durable gross-profit economics indicate the core product can generate margin once operating cost structure is right-sized, providing a realistic path to improved profitability if scale or cost discipline is achieved.
Negative Factors
Deep sustained losses
The company’s very large net losses and extreme negative margin reflect structural inability to convert gross profit into operating profits. Such persistent unprofitability erodes shareholder value, limits reinvestment capacity, and makes long-term viability dependent on either sustained external funding or a major, credible profitability turnaround.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross margin resilience
Despite falling revenue and large operating losses, the business retains a meaningful gross margin (~51% TTM). Durable gross-profit economics indicate the core product can generate margin once operating cost structure is right-sized, providing a realistic path to improved profitability if scale or cost discipline is achieved.
Read all positive factors

Anoto Group AB (ANOT) vs. iShares MSCI Sweden ETF (EWD)

Anoto Group AB Business Overview & Revenue Model

Company Description
Anoto Group AB (publ) provides digital writing and drawing solutions in Sweden, Europe, the Middle East, Africa, the United States, and the Asia-Pacific regions. The company offers ACE, a cloud-based forms system that offers paper document handlin...
How the Company Makes Money
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Anoto Group AB Financial Statement Overview

Summary
Financials are extremely weak: the company is deeply loss-making (net margin around -408%), revenue has materially declined versus 2021–2022 and fell again in TTM, and cash burn is persistent with significantly negative operating cash flow (~-33.2M) and free cash flow (~-46.7M). Balance sheet risk has increased as equity collapsed to ~1.5M while debt is ~25.7M, sharply reducing financial flexibility.
Income Statement
18
Very Negative
Balance Sheet
24
Negative
Cash Flow
14
Very Negative
BreakdownDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue22.37M30.07M43.01M69.36M71.73M
Gross Profit7.12M14.36M27.04M42.90M38.58M
EBITDA-54.48M-53.76M38.95M-21.92M-24.86M
Net Income-96.23M-55.78M-84.24M-30.90M-40.22M
Balance Sheet
Total Assets95.87M144.82M143.62M238.73M239.07M
Cash, Cash Equivalents and Short-Term Investments196.00K30.67M2.62M1.72M3.88M
Total Debt25.70M4.64M24.29M72.17M41.64M
Total Liabilities94.39M64.70M84.28M147.08M106.33M
Stockholders Equity1.48M80.13M59.33M111.00M144.51M
Cash Flow
Free Cash Flow-37.20M-51.96M-40.00M-32.33M-46.33M
Operating Cash Flow-33.18M-43.98M-40.73M-27.95M-39.02M
Investing Cash Flow-18.11M-12.44M-1.13M-2.27M-7.01M
Financing Cash Flow47.73M84.44M28.16M27.70M47.53M

Anoto Group AB Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.05
Price Trends
50DMA
0.05
Positive
100DMA
0.05
Positive
200DMA
0.05
Positive
Market Momentum
MACD
0.01
Negative
RSI
53.27
Neutral
STOCH
21.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ANOT, the sentiment is Positive. The current price of 0.05 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.05, and below the 200-day MA of 0.05, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 53.27 is Neutral, neither overbought nor oversold. The STOCH value of 21.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ANOT.

Anoto Group AB Peers Comparison

Overall Rating
UnderperformOutperform
Sector (55)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
62
Neutral
kr132.61M18.5812.09%
57
Neutral
kr45.58M-14.1217.10%-267.16%
55
Neutral
$6.65B3.83-15.92%6.20%10.91%7.18%
55
Neutral
kr637.80M52.2922.29%0.48%27.82%305.33%
50
Neutral
kr455.55M-26.0719.18%48.44%
46
Neutral
kr80.69M-0.53-326.45%-36.24%42.01%
44
Neutral
€727.43K-3.26277.20%
* General Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SE:ANOT
Anoto Group AB
0.07
0.03
55.32%
SE:CYB1
Cyber Security 1 AB
SE:ADVE
Advenica AB
14.50
-2.33
-13.84%
SE:FREJA
Freja eID Group AB
15.95
6.15
62.76%
SE:SONE
Sonetel AB
6.02
1.76
41.31%
SE:WPAY
Westpay AB
1.31
0.40
45.00%

Anoto Group AB Corporate Events

Anoto names Jonathan Faiman CEO to drive next phase of digital writing strategy
Mar 10, 2026
Anoto Group AB has appointed Jonathan Faiman as its new chief executive officer with immediate effect, replacing interim CEO Mats Karlsson, who will support a smooth transition after overseeing a restructuring phase that strengthened the company&#...
Anoto Group Secures New Convertible Loan to Bolster Growth and Simplify Financing
Mar 3, 2026
Anoto Group AB has secured a new convertible loan facility of up to USD 1.49 million, combining this financing with an existing USD 2.4 million convertible loan into a single structure to strengthen its capital base. The arrangement, which allows ...
Anoto Narrows Losses and Boosts Margins as It Restructures Financing
Feb 27, 2026
Anoto Group AB, a Swedish-listed technology company and pioneer in digital pen and dot pattern technology, focuses on smart pens, paper and software that connect handwriting to digital systems. Its core portfolio includes the inq and Livescribe re...
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.Date of analysis: Mar 31, 2026