Bambuser AB (BUSER) AI Stock Analysis

• Market Cap: kr199.57M
• Dividend Yield: N/A
• Average Volume (3M): 127.77K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.09
• 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): -13.2
• Revenue Forecast (FY): kr188.00M

• Rating: 53 Neutral
• Price Target: kr25.00 ▲(73.61% Upside)
• Action: Reiterated Date: 03/19/26
• Date: Action: Reiterated 03/19/26

The score is held back primarily by weak financial performance—continued operating losses, negative cash flow, and significant equity erosion—despite a low-debt balance sheet and improving gross profitability. Technicals are a major offset, with strong price trend and positive momentum indicators. Valuation remains constrained by losses (negative P/E) and no provided dividend yield.

Positive Factors

Near-zero debt

Zero reported debt provides durable financial flexibility, lowering bankruptcy and refinancing risk. Over a 2–6 month horizon this supports the ability to invest in product, withstand revenue variability, and pursue partnerships or M&A without near-term interest burdens.

Improving gross profitability

A sustained move from negative to solid gross margins indicates improving unit economics and product-market fit. If maintained, higher gross profit creates structural room to scale sales and product investments while moving toward operating leverage over the medium term.

Recurring SaaS revenue model

A subscription-based platform tied to live video commerce gives predictable recurring revenue and upsell potential across customers and geographies. Structural adoption of video shopping increases addressable market and supports durable revenue visibility if churn is managed.

Negative Factors

Shrinking revenue

Ongoing revenue declines signal demand or execution issues that erode scale benefits. Over several months, falling top line constrains ability to absorb fixed costs, prolongs cash burn, and weakens negotiating leverage with enterprise customers and partners.

Steep equity erosion

Large cumulative losses that have sharply reduced equity weaken the balance-sheet buffer against further losses or shocks. This structural erosion raises dilution or financing risk and limits ability to pursue growth investments without external capital.

Persistent negative cash flow

Consistent cash burn despite recent improvement means the business still depends on external funding to operate. Over a 2–6 month horizon, persistent negative cash flow restricts strategic optionality and increases risk if fundraising windows tighten.

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 primarily makes money by selling its video commerce platform to businesses as a software service. Revenue is typically generated through recurring subscription/contract fees paid by enterprise customers to access and use its live shopping and video consultation products, with pricing commonly structured around contracted commitments and usage/volume tiers (e.g., levels of platform usage such as sessions, viewers, or similar activity measures), where applicable. The company may also earn revenue from professional services related to onboarding, implementation, integrations, and customer support for enterprise deployments; specific service lines or fee structures are null if not publicly detailed. Bambuser’s earnings depend on acquiring and retaining retail/brand customers, expanding usage within existing customers (e.g., rolling out to more markets, brands, or digital properties), and maintaining integrations with e-commerce platforms and other commerce tooling; specific named partnership details are null if not available.

Bambuser AB Financial Statement Overview

Summary

Income statement is weak with declining revenue and deeply negative profitability despite improved gross profit. Cash flow remains negative (continued cash burn), though 2025 shows improvement in free cash flow. Balance sheet is helped by zero debt, but equity has fallen sharply, reducing the cushion.

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%
BUSER	53 Neutral	kr199.57M	-0.85	―	―	―	―
RPLAN	48 Neutral	kr86.37M	-2.37	―	―	―	―
MOBA	46 Neutral	kr16.90M	-0.07	―	―	―	―
GREAT	42 Neutral	kr199.09M	-5.44	―	―	-69.94%	-7367.66%