Dlaboratory Sweden AB (DLAB) AI Stock Analysis

• Market Cap: kr40.33M
• Dividend Yield: N/A
• Average Volume (3M): 37.16K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.56
• Revenue Growth: -4.02%
• EPS Growth: 6.77%
• Country: SE
• Employees: 28
• Sector: Utilities
• Sector Strength: 65
• Industry: Renewable Utilities
• EPS (TTM): 0.02
• Shares Outstanding: 16,944,977
• 10 Day Avg. Volume: 64,267
• 30 Day Avg. Volume: 37,157
• PEG Ratio: 0.18
• Price to Book (P/B): 4.26
• Price to Sales (P/S): 1.02
• P/FCF Ratio: -15.42
• 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: 44 Neutral
• Price Target: kr2.50 ▲(8.70% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is mainly held back by weak financial performance—ongoing losses, declining revenue, and negative/free cash flow with worsening FCF—despite the benefit of zero debt. Technical indicators are broadly neutral and do not provide a strong momentum tailwind, while valuation is constrained by loss-making results (negative P/E) and no dividend yield support.

Positive Factors

Low leverage / zero debt

Zero debt meaningfully reduces fixed financial obligations and bankruptcy risk, giving management flexibility to prioritize operational fixes or selective investments. For a cash-burning renewable utility, low leverage materially extends runway and preserves optionality while execution on profitability proceeds.

Improving gross margins

A sharp improvement in gross margin indicates better unit economics or favorable mix, which strengthens the path to operating profitability. If sustained, higher gross margins can offset revenue softness and reduce the scale of required cost cuts or external funding to reach break-even.

Free cash flow trending less negative

Free cash flow being less negative than prior years signals early progress in cutting cash burn or improving working capital. Continued improvement in FCF would enhance self-funding potential, reduce dependency on external capital, and improve financial resilience over the next several months.

Negative Factors

Persistent operating losses

Consistent negative EBIT and net margins (~-17%) show the core operations are loss-making, eroding retained earnings and limiting reinvestment capacity. Without durable margin recovery or revenue growth, losses will continue to pressure liquidity and force financing or restructuring choices.

Declining top-line

A falling revenue trend (~-6.8% TTM) signals weakening demand or execution problems, undermining scalability and the ability to leverage improved gross margins. Persistent revenue decline makes it harder to achieve sustainable profitability and exacerbates cash burn risks absent new growth drivers.

Eroding equity and very negative ROE

A materially reduced equity base and deeply negative ROE (~-122%) reflect capital erosion from ongoing losses, shrinking the solvency buffer. This increases the likelihood of dilutive capital raises, weakens investor confidence, and signals poor capital efficiency that hampers long-term value creation.

Dlaboratory Sweden AB Business Overview & Revenue Model

Company Description

Dlaboratory Sweden AB (publ) operates as a cleantech company in Sweden. It provides dInsight Analytics platform that connects and collects grid data; analyses to unlock critical information; categorizes and visualizes; and transform the information in meaningful context and actionable knowledge. The company was incorporated in 2010 and is based in Lund, Sweden.

How the Company Makes Money

Dlaboratory Sweden AB (DLAB) generates revenue primarily through the sale of its software solutions and services to utility companies and other stakeholders in the energy sector. The company's key revenue streams include subscription fees for access to its analytics platform, licensing of its technology, and consulting services related to grid optimization and management. Additionally, DLAB may engage in strategic partnerships with energy providers and technology firms to expand its reach and enhance its offerings, which can contribute to its earnings.

Dlaboratory Sweden AB Financial Statement Overview

Summary

Financials are weak overall: TTM revenue declined (~-6.8%), profitability is negative (EBIT and net margins about -17%), and cash flow is still negative (TTM OCF -1.96M; FCF -3.61M with ~-54% deterioration). The key offset is very low leverage (zero debt) and improved gross margin (~47% TTM vs ~21% in FY2024), but shrinking equity and deeply negative ROE (~-122%) keep the risk elevated.

Income Statement

TTM (Trailing-Twelve-Months) revenue is 44.16M, down ~6.8% versus the prior period, pointing to weakening top-line momentum. Profitability remains the central issue: the company is still loss-making at the operating level (EBIT margin about -17%) and at the bottom line (net margin about -17%). A positive is the sharp improvement in gross margin versus FY2024 (TTM ~47% vs ~21%), but overall earnings are still negative and margins have not stabilized into consistent profitability.

Balance Sheet

Leverage is very low, with zero debt in TTM and FY2024, which reduces financial risk. However, the equity base has contracted meaningfully (equity down from 11.17M in FY2024 to 3.24M in TTM), and returns remain deeply negative (TTM return on equity about -122%), reflecting ongoing losses and pressure on capital. Overall, the balance sheet is not burdened by debt, but shrinking equity and negative returns are notable concerns.

Cash Flow

Cash generation remains weak: TTM operating cash flow is -1.96M and free cash flow is -3.61M, meaning the business is still consuming cash. Free cash flow deterioration is significant (TTM free cash flow growth about -54%), indicating worsening cash burn versus the prior period. A modest positive is that TTM free cash flow is less negative than in several earlier years, but the company has not yet demonstrated sustained positive operating cash flow to self-fund operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	44.16M	46.78M	44.87M	45.76M	18.05M	4.75M
Gross Profit	20.96M	9.96M	36.40M	40.20M	17.83M	2.63M
EBITDA	-5.21M	-3.55M	-8.38M	-6.44M	-14.23M	-12.74M
Net Income	-7.63M	-6.19M	-11.05M	-8.99M	-16.13M	-13.77M
Balance Sheet
Total Assets	16.65M	24.65M	30.62M	37.97M	48.20M	10.74M
Cash, Cash Equivalents and Short-Term Investments	993.00K	5.74M	10.53M	14.71M	28.16M	7.19M
Total Debt	0.00	0.00	440.00K	920.00K	1.57M	2.55M
Total Liabilities	13.41M	13.48M	13.25M	9.74M	11.32M	4.48M
Stockholders Equity	3.24M	11.17M	17.37M	28.23M	36.87M	6.26M
Cash Flow
Free Cash Flow	-3.61M	-3.08M	-3.93M	-13.15M	-12.99M	-9.45M
Operating Cash Flow	-1.96M	-3.08M	-3.93M	-13.15M	-12.80M	-9.45M
Investing Cash Flow	-1.97M	-1.27M	0.00	0.00	-11.96M	0.00
Financing Cash Flow	-92.00K	-440.00K	-248.00K	-303.00K	45.73M	13.38M

Dlaboratory Sweden AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:DLAB, the sentiment is Positive. The current price of 2.3 is below the 20-day moving average (MA) of 2.53, below the 50-day MA of 2.48, and below the 200-day MA of 2.38, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.24 is Neutral, neither overbought nor oversold. The STOCH value of 36.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:DLAB.

Dlaboratory Sweden AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
DLAB	44 Neutral	kr40.33M	-5.28	-109.03%	―	-4.02%	6.77%
MINEST	44 Neutral	kr140.72M	-3.35	-5.97%	―	-100.00%	31.68%
CLIME.B	43 Neutral	kr109.04M	-0.63	-47.34%	―	-36.89%	33.50%