Divio Technologies AB Class B (DIVIO.B) AI Stock Analysis

• Market Cap: kr39.07M
• Dividend Yield: N/A
• Average Volume (3M): 657.32K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.90
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 13
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): >-0.01
• Shares Outstanding: 373,090,100
• 10 Day Avg. Volume: 411,085
• 30 Day Avg. Volume: 657,315
• PEG Ratio: -0.13
• Price to Book (P/B): 9.85
• Price to Sales (P/S): 1.32
• P/FCF Ratio: -1.86
• 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: 43 Neutral
• Price Target: kr0.11 ▲(0.00% Upside)

The score is primarily constrained by weak financial performance—ongoing losses and a return to significant cash burn—despite improving TTM revenue growth and a debt-free balance sheet. Technicals also weigh on the score due to a clear downtrend and negative momentum. Valuation is difficult to support given negative earnings and no stated dividend yield.

Positive Factors

Debt-free balance sheet

A debt-free capital structure materially reduces solvency and refinancing risk, giving management flexibility to prioritize product development, go-to-market investment, or M&A without fixed interest burdens. Over 2–6 months this supports runway and strategic optionality amid cash burn.

Improving TTM revenue growth

An improvement in TTM revenue after prior declines suggests recovering product-market fit and demand traction. If sustained, this revenue momentum can underpin operating leverage and eventual margin recovery, strengthening the business case for reinvestment and reduced funding dependence.

Platform/cloud-focused software offering

A platform and cloud-oriented product set aligns with durable secular trends toward hosted application tooling and DevOps automation. Such positioning supports recurring revenue, customer stickiness, and scalable unit economics over time if the company can retain and expand developer/operator users.

Negative Factors

Persistent operating losses and cash burn

Material negative operating and free cash flow indicate the business is consuming capital to sustain operations. Over months this raises execution and funding risk, potentially forcing dilutive financing or spending cuts that impair product development, sales expansion, and long-term competitiveness.

Negative returns on equity

Deeply negative ROE shows the company is destroying shareholder capital rather than generating returns. Persisting negative returns undermine the ability to reinvest profitably, reduce investor confidence, and limit internal funding for growth initiatives over a multi-month horizon.

Very small scale and thin equity base

A very small team and limited equity cushions constrain capacity to execute product roadmaps, scale sales, and respond to competitive pressure. Over 2–6 months, resource constraints can slow feature delivery and customer expansion, leaving the company vulnerable to better-funded rivals.

Divio Technologies AB Class B Business Overview & Revenue Model

Company Description

Divio Technologies AB (publ) engages in the development and sale of software platforms that allows companies to build, operate, and maintain complex websites in a cloud-based infrastructure. The company's platform enables enterprise IT departments to create websites and dynamic web apps by managing cloud infrastructure, as well as offering flexible, secure, and high-performance solutions that easily scale with growing business needs. It also handles migration and management of external and internal web-based applications in the cloud services. The company was incorporated in 2016 and is based in Stockholm, Sweden.

How the Company Makes Money

Divio Technologies AB Class B Financial Statement Overview

Summary

Revenue growth improved in TTM (~9.3%) and the company has no debt, but profitability remains weak with ongoing losses and operating/cash flow deterioration. TTM operating cash flow and free cash flow are meaningfully negative, raising near-term execution and funding risk if the burn persists.

Income Statement

TTM (Trailing-Twelve-Months) revenue grew about 9.3%, a clear improvement versus the slight decline in 2024. Profitability, however, remains weak: the company is still loss-making with negative operating profit and a net loss, and margins are only modestly improved from the very depressed 2024 levels. Overall, the trend is better on growth and gross profitability, but the business has not yet shown consistent, sustainable earnings power.

Balance Sheet

The balance sheet shows no debt across the periods provided, which materially reduces financial risk and gives flexibility. Offsetting this, equity is relatively small versus the size of the asset base, and returns on equity are deeply negative due to ongoing losses (including TTM). In short: low leverage is a major strength, but thin equity and persistent losses weaken the balance-sheet quality.

Cash Flow

Cash generation has deteriorated: TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are both meaningfully negative, and free cash flow is down versus the prior year. The company did generate positive operating cash flow and free cash flow in 2023, but the swing back to large cash burn in TTM raises near-term funding and execution risk unless profitability and working-capital dynamics improve.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	34.58M	25.20M	27.07M	18.84M	15.70M	11.79M
Gross Profit	6.59M	-15.18M	5.67M	23.40M	20.13M	16.92M
EBITDA	229.00K	-8.81M	-7.04M	-8.63M	-10.64M	-13.44M
Net Income	-8.37M	-15.89M	-13.20M	-9.07M	-10.88M	-18.61M
Balance Sheet
Total Assets	24.51M	33.00M	30.18M	26.46M	27.53M	15.53M
Cash, Cash Equivalents and Short-Term Investments	8.30M	9.27M	12.64M	2.06M	9.29M	1.09M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	19.31M	29.62M	22.47M	8.38M	8.77M	5.76M
Stockholders Equity	5.20M	3.38M	7.71M	18.07M	18.76M	9.77M
Cash Flow
Free Cash Flow	-22.36M	-17.85M	5.08M	-9.47M	-11.68M	-16.67M
Operating Cash Flow	-18.79M	-11.28M	12.75M	-4.80M	-7.23M	-11.54M
Investing Cash Flow	-4.41M	-6.57M	-7.64M	-4.62M	-4.47M	-4.80M
Financing Cash Flow	22.20M	14.40M	10.42M	2.00M	19.80M	11.54M

Divio Technologies AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
FLOWS	52 Neutral	kr57.40M	48.19	―	―	―	―
COMPDM	52 Neutral	kr31.84M	-2.44	―	―	50.38%	10.68%
LOYAL	48 Neutral	kr33.25M	-2.17	―	―	-4.44%	-14.29%
DIVIO.B	43 Neutral	kr39.07M	-3.91	―	―	―	―