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Cell Impact AB
(CI)
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Rating:41Neutral
Price Target:
kr0.05
▼(-24.29% Downside)
Action:Reiterated
Date:08/10/26
The score is driven primarily by weak financial performance: deep losses, negative gross profit, declining revenue, and persistent negative free cash flow that increases external funding risk. Technicals add pressure as the stock trades below all key moving averages with negative MACD and weak momentum indicators. Valuation provides limited support because the negative P/E reflects ongoing losses and no dividend yield is available.
Positive Factors
Proprietary forming technology
Cell Impact's proprietary high-velocity forming technology enables scalable, high-volume manufacturing of metallic bipolar plates. That technical moat supports customer adoption for mass production, raises barriers to entry, and aligns with structural hydrogen and electrolyzer industry growth.
Negative Factors
Persistent negative cash generation
Operating cash flow and free cash flow are consistently large and negative, materially exceeding zero across periods. This persistent burn forces reliance on external funding, raises dilution and refinancing risk, and constrains the firm's ability to scale production lines or convert pilots into commercial orders.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary forming technology
Cell Impact's proprietary high-velocity forming technology enables scalable, high-volume manufacturing of metallic bipolar plates. That technical moat supports customer adoption for mass production, raises barriers to entry, and aligns with structural hydrogen and electrolyzer industry growth.
Read all positive factors
Cell Impact AB (CI) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr78.93M
Dividend YieldN/A
Average Volume (3M)4.50M
Price to Earnings (P/E)―
Beta (1Y)0.75
Revenue Growth-56.60%
EPS Growth51.95%
CountrySE
Employees31
SectorGeneral
Sector StrengthN/A
IndustryManufacturing - Metal Fabrication
Share Statistics
EPS (TTM)-0.41
Shares Outstanding1,461,675,500
10 Day Avg. Volume6,494,872
30 Day Avg. Volume4,501,845
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.27
Price to Sales (P/S)5.83
P/FCF Ratio-0.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.42
Revenue Forecast (FY)kr40.00M
Cell Impact AB Business Overview & Revenue Model
Company Description
Cell Impact AB (publ) is a Swedish firm that specializes in the global production and distribution of bipolar flow plates, which are crucial components for hydrogen fuel cells. The company's products include plates designed with meticulously preci...
How the Company Makes Money
Cell Impact makes money primarily by selling industrial equipment and manufacturing solutions used to produce metallic bipolar (flow) plates for fuel cells and electrolyzers. Key revenue streams include: (1) sales of forming equipment/production l...
Cell Impact AB Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
42
Neutral
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.12M | 5.57M | 37.33M | 47.26M | 76.81M | 71.35M |
| Gross Profit | -135.36M | -121.42M | 5.42M | 25.45M | 36.94M | 34.88M |
| EBITDA | -49.36M | -55.03M | -66.52M | -97.72M | -86.22M | -68.84M |
| Net Income | -125.35M | -131.98M | -100.43M | -121.40M | -104.22M | -79.85M |
Balance Sheet | ||||||
| Total Assets | 135.93M | 163.37M | 261.25M | 381.93M | 401.51M | 238.72M |
| Cash, Cash Equivalents and Short-Term Investments | 424.00K | 10.86M | 20.39M | 99.89M | 164.67M | 28.56M |
| Total Debt | 13.91M | 32.54M | 30.92M | 42.75M | 44.70M | 19.51M |
| Total Liabilities | 33.79M | 42.34M | 42.16M | 78.56M | 77.17M | 96.10M |
| Stockholders Equity | 102.14M | 121.03M | 219.08M | 303.37M | 324.35M | 142.63M |
Cash Flow | ||||||
| Free Cash Flow | -36.31M | -47.29M | -76.66M | -152.75M | -174.32M | -140.39M |
| Operating Cash Flow | -34.80M | -45.36M | -62.23M | -100.97M | -105.93M | -86.08M |
| Investing Cash Flow | 2.63M | 2.30M | -14.43M | -51.78M | -68.40M | -54.32M |
| Financing Cash Flow | 31.77M | 33.68M | -2.84M | 88.09M | 310.47M | 17.01M |
Cell Impact AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | kr90.73M | -11.63 | -8.32% | ― | 18.54% | 62.40% | |
46 Neutral | kr305.92M | -1.51 | -32.07% | ― | -1.41% | -3913.83% | |
45 Neutral | kr1.22B | -9.41 | -35.36% | ― | -36.95% | -1374.98% | |
44 Neutral | kr1.35B | -20.62 | -33.32% | ― | 120.73% | 7.14% | |
42 Neutral | kr61.40M | -3.66 | -139.30% | ― | 2.38% | 20.39% | |
41 Neutral | kr78.93M | -0.13 | ― | ― | -56.60% | 51.95% |
* General Sector Average
SE:CI
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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.