Bambuser AB (BUSER) AI Stock Analysis

• Market Cap: kr111.85M
• Dividend Yield: N/A
• Average Volume (3M): 127.77K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.38
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 77
• Sector: Services
• Sector Strength: N/A
• Industry: Software - Application
• EPS (TTM): -3.97
• Shares Outstanding: 8,047,062
• 10 Day Avg. Volume: 159,540
• 30 Day Avg. Volume: 127,769
• PEG Ratio: -0.90
• Price to Book (P/B): 1.02
• Price to Sales (P/S): 1.16
• P/FCF Ratio: -1.15
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: kr13.00 ▼(-9.72% Downside)
• Action: Reiterated Date: 02/21/26
• Date: Action: Reiterated 02/21/26

The score is held down primarily by weak financial performance (ongoing losses, cash burn, and significant equity erosion) and a bearish-to-weak technical setup (below major moving averages with negative MACD). Valuation is neutral because the negative P/E reflects losses and there is no dividend yield data to offset uncertainty.

Positive Factors

Low leverage / no debt

A zero-debt balance sheet materially reduces financial risk and preserves strategic optionality. Over months this lowers bankruptcy probability, gives management flexibility to fund product development, go-to-market investment or acquisitions without servicing interest, and supports durability through cyclical demand.

Improving gross profitability

Sustained recovery in gross profit points to better unit economics and pricing or cost efficiencies in the platform. This structural improvement increases the potential for operating leverage as revenues stabilize, making a durable path to positive operating margins more achievable if operating expenses are controlled.

Recurring SaaS commerce model

A subscription-based video commerce platform creates recurring revenue, customer stickiness, and predictable cash flows over time. Integrations and usage-tier pricing enable upsell and cross-sell within client accounts, supporting scalable growth and long-term retention in the e‑commerce ecosystem.

Negative Factors

Declining revenue

Consecutive revenue declines weaken operating leverage and make fixed-cost absorption harder, extending time to profitability. For a SaaS platform, falling top line signals customer acquisition/retention or market penetration issues that can persist and constrain sustainable margin expansion if not reversed.

Persistent negative cash flow

Ongoing negative operating and free cash flow forces reliance on external financing or equity issuance, raising dilution and funding risk. Even with improving FCF trends, sustained cash consumption limits reinvestment capacity and heightens vulnerability to funding market conditions over the medium term.

Eroded shareholder equity

A severe fall in equity reflects cumulative losses that reduce the balance-sheet cushion against shocks. Lower equity impairs financial flexibility, may limit credit or partnership options, and makes the company more sensitive to further operating setbacks or funding constraints over the coming quarters.

Bambuser AB Business Overview & Revenue Model

Company Description

Bambuser AB (publ) develops and provides solutions for live streaming in Sweden. The company provides technology, which enables live streaming from mobile phones and Webcams over the Internet. It offers one-to-many live video shopping broadcasted; one-to-one shopping that increase sales by bridging gap between online and in-store shopping; Phygital solution; and live streaming SDK. The company was incorporated in 2007 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Bambuser AB Financial Statement Overview

Summary

Despite improved gross profitability and essentially no debt, financials remain pressured by shrinking revenue (2025: -4.12%), deeply negative operating/net results, ongoing negative operating and free cash flow, and a sharp erosion of equity (2021: 769.5M to 2025: 94.2M).

Income Statement

Revenue has been shrinking recently (2025: -4.12% after a slight decline in 2024), and profitability remains deeply negative with sizable operating and net losses across the period. A key positive is the sharp improvement in gross profitability versus earlier years (moving from negative gross profit in 2020–2021 to solid gross profit in 2024–2025), suggesting better unit economics; however, operating costs still overwhelm gross profit, keeping earnings meaningfully negative.

Balance Sheet

The company carries essentially no debt (zero total debt in 2021–2025), which limits financial risk and provides flexibility. The main concern is a steep decline in shareholder equity over time (from 769.5M in 2021 to 94.2M in 2025), consistent with sustained losses and reducing the balance-sheet cushion despite still-positive equity and assets.

Cash Flow

Cash generation remains weak, with operating cash flow and free cash flow negative each year shown (including 2025). A positive sign is the improvement in free cash flow in 2025 (growth of 65.95% versus 2024), indicating cash burn is moderating; however, the business is still consuming cash rather than funding itself internally, keeping liquidity risk elevated if losses persist.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	83.09M	103.02M	188.47M	208.06M	158.80M
Gross Profit	41.75M	79.07M	55.39M	41.14M	-43.78M
EBITDA	-89.73M	-109.03M	-209.28M	-132.18M	-188.96M
Net Income	-113.04M	-111.67M	-278.40M	-200.17M	-231.13M
Balance Sheet
Total Assets	141.77M	261.38M	374.38M	676.85M	869.62M
Cash, Cash Equivalents and Short-Term Investments	103.14M	183.06M	272.06M	378.45M	542.38M
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	47.62M	52.22M	55.50M	87.13M	100.13M
Stockholders Equity	94.15M	209.16M	318.87M	589.72M	769.49M
Cash Flow
Free Cash Flow	-83.62M	-83.33M	-120.44M	-163.16M	-162.78M
Operating Cash Flow	-83.62M	-83.31M	-120.25M	-138.38M	-85.13M
Investing Cash Flow	4.64M	-7.67M	12.54M	-29.08M	-174.81M
Financing Cash Flow	-267.00K	1.53M	1.46M	3.16M	483.69M

Bambuser AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
RPLAN	48 Neutral	kr86.37M	-4.31	―	―	―	―
BUSER	47 Neutral	kr111.85M	-0.74	―	―	―	―
GREAT	45 Neutral	kr251.69M	-4.15	―	―	-69.94%	-7367.66%