Dlaboratory Sweden AB (DLAB) AI Stock Analysis

• Market Cap: kr41.01M
• Dividend Yield: N/A
• Average Volume (3M): 37.16K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.53
• 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: -0.25
• Price to Book (P/B): 11.57
• Price to Sales (P/S): 0.92
• 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: 47 Neutral
• Price Target: kr2.00 ▼(-13.04% Downside)
• Action: Reiterated Date: 03/02/26
• Date: Action: Reiterated 03/02/26

The score is primarily held back by weak financial performance—continued losses, negative EBIT/EBITDA, and negative gross profit in 2025—despite low leverage and a one-year improvement to positive operating cash flow. Technicals are neutral-to-slightly supportive with price near/above key averages, but valuation lacks support given negative earnings and no dividend data.

Positive Factors

Low leverage / balance-sheet resilience

Near-zero debt materially lowers refinancing and interest risk, giving the company greater financial flexibility during recovery. This durable buffer supports capital allocation to operations or targeted investments without immediate debt-servicing pressure, important amid volatile cash flows.

Improving operating cash generation

A shift to positive operating cash flow signals that core operations can generate liquidity, reducing dependency on external financing if sustained. Over 2–6 months this improvement can fund working capital and small investments, making the business more self-reliant if management maintains discipline.

Revenue scaled since 2020

Higher revenue versus the 2020 baseline indicates underlying market traction and that the business model has scaled to a larger revenue base. This durable customer or demand footprint provides a platform to restore margins through cost control or mix shifts once operational issues are addressed.

Negative Factors

Persistent unprofitability and margin deterioration

Chronic losses and negative operating profitability, capped by a negative gross profit in 2025, point to structural cost or pricing problems. Until gross margins and EBIT/EBITDA sustainably turn positive, the company cannot generate durable earnings or fund growth internally, limiting long-term viability.

Eroding equity and shrinking capital base

A sharply reduced equity base weakens the company’s shock absorbers and reduces capacity for investment or absorbing further losses. Over months this constrains strategic options, may force dilutive financing, and raises governance pressure as available capital to execute recovery diminishes.

Volatile cash flow and weak free cash generation

Inconsistent operating cash and historically negative free cash flow limit the firm’s ability to fund capex, R&D, or bridge losses without external capital. This structural shortfall increases refinancing and dilution risk and undermines the persistence of recent positive operating cash if not steadied.

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.

Dlaboratory Sweden AB Financial Statement Overview

Summary

Despite materially higher revenue versus 2020, performance has deteriorated recently (revenue down ~17% in 2025). Profitability is a major weakness with persistent net losses, consistently negative EBIT/EBITDA, and 2025 gross profit turning negative. The balance sheet is conservatively levered (near-zero debt), and operating cash flow turned positive in 2025, but cash flow has been volatile and equity has fallen sharply over time.

Income Statement

Revenue has scaled materially versus 2020, but the growth path has turned inconsistent recently (down ~17% in 2025 after modest growth in 2024). Profitability remains weak: the company has reported net losses every year from 2020–2025, with EBIT and EBITDA consistently negative. A key red flag is 2025 gross profit turning negative, suggesting sharp cost pressure or adverse mix changes, and it keeps the business far from sustainable earnings power despite earlier periods showing strong gross margins.

Balance Sheet

Leverage is very conservative (debt is near-zero by 2024–2025), which reduces refinancing risk and provides some balance-sheet resilience. However, equity has fallen sharply from 2021 to 2025, reflecting ongoing losses and limiting financial flexibility over time. Returns on equity have been deeply negative across the available years, and total assets have also trended down since 2021—signs of a shrinking capital base despite low debt.

Cash Flow

Cash generation has been volatile. Operating cash flow was significantly negative through 2020–2024, but turned positive in 2025, which is a constructive shift if it proves repeatable. Free cash flow has generally been negative when disclosed, and 2025 free cash flow is reported at 0, implying limited surplus cash after investments. Overall, cash flow quality is improving but not yet consistently strong enough to offset the history of cash burn.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	44.09M	46.78M	44.87M	45.76M	18.05M
Gross Profit	-8.29M	9.96M	36.40M	40.20M	17.83M
EBITDA	-5.94M	-3.55M	-8.38M	-6.44M	-14.23M
Net Income	-7.65M	-6.19M	-11.05M	-8.99M	-16.13M
Balance Sheet
Total Assets	20.82M	24.65M	30.62M	37.97M	48.20M
Cash, Cash Equivalents and Short-Term Investments	5.65M	5.74M	10.53M	14.71M	28.16M
Total Debt	0.00	0.00	440.00K	920.00K	1.57M
Total Liabilities	17.31M	13.48M	13.25M	9.74M	11.32M
Stockholders Equity	3.52M	11.17M	17.37M	28.23M	36.87M
Cash Flow
Free Cash Flow	0.00	-3.08M	-3.93M	-13.15M	-12.99M
Operating Cash Flow	1.81M	-3.08M	-3.93M	-13.15M	-12.80M
Investing Cash Flow	-1.88M	-1.27M	0.00	0.00	-11.96M
Financing Cash Flow	-12.00K	-440.00K	-248.00K	-303.00K	45.73M

Dlaboratory Sweden AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.30
• 50DMA: Negative
• 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 2.41, below the 50-day MA of 2.48, and below the 200-day MA of 2.37, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 51.19 is Neutral, neither overbought nor oversold. The STOCH value of 27.49 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	47 Neutral	kr41.01M	-5.32	-177.06%	―	-4.02%	6.77%
MINEST	47 Neutral	kr171.41M	-4.23	-5.97%	―	-100.00%	31.68%
CLIME.B	43 Neutral	kr126.48M	-1.01	-47.34%	―	-36.89%	33.50%