Clean Motion AB (CLEMO) AI Stock Analysis

• Market Cap: kr16.34M
• Dividend Yield: N/A
• Average Volume (3M): 476.12K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.48
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 14
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Auto - Manufacturers
• EPS (TTM): -0.05
• Shares Outstanding: 185,261,220
• 10 Day Avg. Volume: 320,029
• 30 Day Avg. Volume: 476,122
• PEG Ratio: 0.03
• Price to Book (P/B): 0.48
• Price to Sales (P/S): 10.92
• P/FCF Ratio: 0.00
• 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: 42 Neutral
• Price Target: kr0.09 ▼(-26.67% Downside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

The score is driven primarily by weak financial performance (ongoing net losses and operating cash burn) and bearish technical signals (price below all major moving averages with weak momentum). A low-debt balance sheet provides some cushion, but negative earnings also limit valuation support.

Positive Factors

Low leverage and equity cushion

Very low debt and sizable equity (SEK 41.7m vs SEK 57.8m assets in 2025) materially reduce near-term refinancing risk and provide a runway for continued R&D and pilot commercialization. This capital structure gives the company flexibility over coming months to execute without immediate solvency pressure.

Focused EV micro-vehicle positioning

A clear product focus on ultra-efficient EVIG micro-vehicles targets structural growth in urban and last‑mile electrification. This niche positioning aligns with durable demand drivers (urbanization, delivery electrification) and can create a defensible segment advantage if the company converts pilots into fleet sales.

Top-line rebound in 2025

A 21.8% revenue rebound in 2025 shows initial commercial traction and improving demand momentum. While absolute revenues are still small, sustained top-line growth over subsequent quarters could enable operating leverage and gradual margin improvement as fixed costs scale with higher volumes.

Negative Factors

Chronic operating cash burn

Sustained negative operating cash flow (notably -SEK 15.5m in 2024 and -SEK 8.1m in 2025) indicates the business consumes cash to run operations. Continued cash burn forces reliance on external financing, raises dilution risk, and constrains the company’s ability to scale or respond to setbacks over the medium term.

Persistent net losses and weak profitability

The firm has been loss-making since 2021 with net losses (~SEK 21.1m in 2024 and ~SEK 18.5m in 2025) and deeply negative gross profit. Persistent losses reflect limited operating leverage at current scale and signal that structural changes or scale gains are needed before profitability becomes sustainable.

Negative returns on equity

ROE has been deeply negative (roughly -17% to -44% over 2021–2025), indicating erosion of shareholder capital and weak internal funding capacity. Persistent negative ROE increases the likelihood of future equity raises, diluting shareholders and limiting the company’s ability to finance growth organically.

Clean Motion AB Business Overview & Revenue Model

Company Description

Clean Motion AB (publ) develops and manufactures electric vehicles. It offers Zbee, a light electric three-wheeled vehicle for transportation and logistics needs. The company was founded in 2010 and is based in Lerum, Sweden.

How the Company Makes Money

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Clean Motion AB Financial Statement Overview

Summary

Income statement and cash flow are very weak: the company has been consistently loss-making since 2021 with deeply negative profitability in 2024–2025 and continued operating cash burn (negative operating cash flow in 2021–2025). The balance sheet is a relative positive with low leverage and sizable equity, but persistent losses and poor ROE remain a material risk.

Income Statement

Results are weak and volatile. Revenue rebounded in 2025 (+21.8% YoY) but remains very small, and profitability deteriorated sharply with deeply negative gross profit and operating earnings in 2024–2025 (net losses of ~SEK 21.1m in 2024 and ~SEK 18.5m in 2025). After a strong 2020 profit, the company has been consistently loss-making since 2021, indicating an unstable earnings profile and limited operating leverage at the current scale.

Balance Sheet

Balance sheet looks relatively supportive: debt is low (debt-to-equity ~0.0 in 2025 and ~0.06–0.10 historically), and equity is sizable versus assets (2025 equity ~SEK 41.7m on ~SEK 57.8m assets). The key weakness is persistent losses driving poor returns on equity (roughly -17% to -44% across 2021–2025), which can pressure equity over time if profitability does not improve.

Cash Flow

Cash generation is a major concern. Operating cash flow has been negative for most years (2021–2025), including ~-SEK 15.5m in 2024 and ~-SEK 8.1m in 2025, implying ongoing cash burn to fund operations. Free cash flow was negative in 2021–2024 (and reported as 0 in 2025), and cash flow has not consistently kept pace with losses, increasing reliance on external funding if conditions persist.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.84M	1.84M	1.09M	7.58M	700.00K	2.08M
Gross Profit	-4.54M	-21.57M	-5.69M	8.59M	-1.04M	1.39M
EBITDA	-16.97M	-16.25M	-16.23M	-2.90M	-8.67M	-3.68M
Net Income	-21.79M	-18.50M	-21.08M	-6.89M	-12.61M	-4.08M
Balance Sheet
Total Assets	61.31M	57.83M	59.83M	49.14M	53.83M	51.44M
Cash, Cash Equivalents and Short-Term Investments	5.10M	4.58M	3.18M	871.00K	13.71M	12.37M
Total Debt	1.99M	0.00	3.00M	3.00M	3.33M	4.48M
Total Liabilities	16.39M	16.09M	9.95M	8.63M	6.62M	6.49M
Stockholders Equity	44.91M	41.73M	50.06M	40.51M	47.22M	44.95M
Cash Flow
Free Cash Flow	0.00	0.00	-15.46M	-4.49M	-6.40M	-8.03M
Operating Cash Flow	0.00	-8.06M	-15.46M	-4.49M	-6.40M	-8.03M
Investing Cash Flow	0.00	-601.00K	-12.86M	-8.01M	-4.74M	-261.00K
Financing Cash Flow	0.00	10.06M	30.64M	0.00	12.48M	20.11M

Clean Motion AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
CLEMO	42 Neutral	kr16.34M	-1.09	―	―	―	―
GREAT	42 Neutral	kr216.00M	-5.44	―	―	-69.94%	-7367.66%