Cell Impact AB (SE:CI)
:CI
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Cell Impact AB
(CI)
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Rating:40Underperform
Price Target:
kr0.11
▼(-56.92% Downside)
Action:DowngradedDate:03/11/26
The score is driven primarily by weak financial performance—sharp 2025 revenue decline, deeply negative profitability, and multi-year cash burn—creating elevated execution and funding risk. Technicals reinforce downside pressure with price below all key moving averages and negative MACD, while valuation provides little support given negative earnings and no dividend.
Positive Factors
Proprietary Manufacturing Technology
Cell Impact's proprietary high-speed forming process is a durable competitive asset for producing bipolar flow plates. This engineering moat can lower unit costs at scale, shorten customer industrialization cycles, and create switching frictions as customers qualify a specific forming method for serial stack production.
Negative Factors
Revenue Collapse and Scale Risk
A sudden, large revenue decline signals fragile customer demand or execution issues in scaling production. Durable commercial traction is uncertain when annual sales swing materially; this weakens the path to fixed-cost absorption, undermines margin recovery prospects, and increases future funding needs to rebuild revenue base.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary Manufacturing Technology
Cell Impact's proprietary high-speed forming process is a durable competitive asset for producing bipolar flow plates. This engineering moat can lower unit costs at scale, shorten customer industrialization cycles, and create switching frictions as customers qualify a specific forming method for serial stack production.
Read all positive factors
Cell Impact AB (CI) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr70.11M
Dividend YieldN/A
Average Volume (3M)4.50M
Price to Earnings (P/E)―
Beta (1Y)1.09
Revenue Growth-81.35%
EPS Growth42.35%
CountrySE
Employees41
SectorIndustrials
Sector Strength72
IndustryManufacturing - Metal Fabrication
Share Statistics
EPS (TTM)-0.19
Shares Outstanding589,169,500
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)-0.48
Revenue Forecast (FY)kr40.00M
Cell Impact AB Business Overview & Revenue Model
Company Description
Cell Impact AB (CI) is a Swedish company specializing in the development and production of advanced fuel cell components, primarily focusing on bipolar plates for hydrogen fuel cells. The company operates within the renewable energy sector, aiming...
How the Company Makes Money
Cell Impact primarily makes money by selling formed metal flow plates to customers in the fuel cell and electrolyzer value chain. Revenue is generated through (1) product sales of flow plates/plate components manufactured using the company’s formi...
Cell Impact AB Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
48
Neutral
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.57M | 37.33M | 47.26M | 76.81M | 71.35M |
| Gross Profit | -121.42M | 5.42M | 25.45M | 36.94M | 34.88M |
| EBITDA | -55.03M | -66.52M | -97.72M | -86.22M | -68.84M |
| Net Income | -131.98M | -100.43M | -121.40M | -104.22M | -79.85M |
Balance Sheet | |||||
| Total Assets | 163.37M | 261.25M | 381.93M | 401.51M | 238.72M |
| Cash, Cash Equivalents and Short-Term Investments | 10.86M | 20.39M | 99.89M | 164.67M | 28.56M |
| Total Debt | 32.54M | 30.92M | 42.75M | 44.70M | 19.51M |
| Total Liabilities | 42.34M | 42.16M | 78.56M | 77.17M | 96.10M |
| Stockholders Equity | 121.03M | 219.08M | 303.37M | 324.35M | 142.63M |
Cash Flow | |||||
| Free Cash Flow | -47.29M | -76.66M | -152.75M | -174.32M | -140.39M |
| Operating Cash Flow | -45.36M | -62.23M | -100.97M | -105.93M | -86.08M |
| Investing Cash Flow | 2.30M | -14.43M | -51.78M | -68.40M | -54.32M |
| Financing Cash Flow | 33.68M | -2.84M | 88.09M | 310.47M | 17.01M |
Cell Impact AB Technical Analysis
Negative
0.26
Price Trends
0.14
Negative
0.20
Negative
0.20
Negative
Market Momentum
>-0.01
Negative
40.11
Neutral
50.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CI, the sentiment is Negative. The current price of 0.26 is above the 20-day moving average (MA) of 0.13, above the 50-day MA of 0.14, and above the 200-day MA of 0.20, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 40.11 is Neutral, neither overbought nor oversold. The STOCH value of 50.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:CI.
Cell Impact AB Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
53 Neutral | kr110.53M | -13.81 | -17.60% | ― | -27.29% | 72.72% | |
44 Neutral | kr1.09B | -58.70 | -7.30% | ― | 36.59% | 91.88% | |
44 Neutral | kr65.11M | -6.08 | -110.39% | ― | -65.29% | -33.93% | |
44 Neutral | kr900.88M | -12.66 | -39.97% | ― | 11.85% | 6.39% | |
42 Neutral | kr221.63M | -2.89 | 0.35% | ― | 10.36% | -100.68% | |
40 Underperform | kr70.11M | -0.25 | ― | ― | -81.35% | 42.35% |
* Industrials Sector Average
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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.