Freja eID Group AB (FREJA) AI Stock Analysis

• Market Cap: kr426.99M
• Dividend Yield: N/A
• Average Volume (3M): 48.41K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.05
• Revenue Growth: 19.18%
• EPS Growth: 48.44%
• Country: SE
• Employees: 27
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): -0.17
• Shares Outstanding: 28,560,974
• 10 Day Avg. Volume: 28,956
• 30 Day Avg. Volume: 48,411
• PEG Ratio: 0.61
• Price to Book (P/B): 18.15
• Price to Sales (P/S): 7.81
• P/FCF Ratio: 59.72
• 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: 50 Neutral
• Price Target: kr15.50 ▲(4.03% Upside)
• Action: Reiterated Date: 02/07/26
• Date: Action: Reiterated 02/07/26

The score is driven primarily by improving fundamentals—strong revenue growth and a shift to positive operating/free cash flow—offset by continued net losses and weak/volatile margins. Technicals are mostly neutral with only modestly constructive signals, while valuation is penalized due to losses (negative P/E) and no stated dividend support.

Positive Factors

Sustained Revenue Growth

Consistent revenue expansion signals growing adoption of Freja eID's services across customers. Durable top-line momentum supports scale economies, strengthens bargaining leverage with partners, and provides a foundation to invest in product and sales capabilities that can drive margin improvement over the medium term.

Negative Factors

Persistent Net Losses

Ongoing net losses indicate the business has not yet reached structural profitability; continued deficits can erode equity and force reliance on external capital. If losses persist, the company may face financing pressure that constrains investments and increases execution risk over the medium term.

Freja eID Group AB Business Overview & Revenue Model

Company Description

Freja eID Group AB (publ), an IT security company, provides security solutions for banking, government, and businesses worldwide. It offers Freja eID, an eco-system for identities; Freja ID to provide secure access to management teams or other key...

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Freja eID Group AB (publ), an IT security company, provides security solutions for banking, government, and businesses worldwide. It offers Freja eID, an eco-system for identities; Freja ID to provide secure access to management teams or other key...

How the Company Makes Money

Freja eID Group AB generates revenue through multiple channels, primarily by charging fees for its digital identity services and electronic signature solutions. The company offers subscription plans for businesses that require enhanced security fo...

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Freja eID Group AB generates revenue through multiple channels, primarily by charging fees for its digital identity services and electronic signature solutions. The company offers subscription plans for businesses that require enhanced security fo...

Freja eID Group AB Financial Statement Overview

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	51.09M	43.91M	36.29M	29.42M	20.64M
Gross Profit	-14.31M	10.64M	620.00K	36.56M	25.22M
EBITDA	1.29M	-4.35M	-25.52M	-33.74M	-42.68M
Net Income	-15.31M	-23.37M	-31.96M	-38.76M	-52.33M
Balance Sheet
Total Assets	69.42M	60.79M	62.42M	59.85M	93.78M
Cash, Cash Equivalents and Short-Term Investments	14.90M	8.43M	5.44M	6.22M	28.30M
Total Debt	10.88M	33.83M	19.50M	17.18M	13.59M
Total Liabilities	47.42M	63.52M	48.62M	38.50M	34.54M
Stockholders Equity	21.99M	-2.73M	13.80M	21.35M	59.24M
Cash Flow
Free Cash Flow	6.68M	-9.50M	-22.90M	-37.38M	-51.13M
Operating Cash Flow	7.09M	1.95M	-8.38M	-25.41M	-41.67M
Investing Cash Flow	-12.53M	-11.45M	-14.00M	2.15M	-9.70M
Financing Cash Flow	11.81M	12.37M	21.57M	938.00K	56.28M

Freja eID Group AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 14.90
• 50DMA: Negative
• 100DMA: Negative
• 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:FREJA, the sentiment is Neutral. The current price of 14.9 is below the 20-day moving average (MA) of 15.31, below the 50-day MA of 15.81, and above the 200-day MA of 14.54, indicating a neutral trend. The MACD of -0.30 indicates Positive momentum. The RSI at 48.26 is Neutral, neither overbought nor oversold. The STOCH value of 72.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:FREJA.

Freja eID Group AB 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%
ADVE	55 Neutral	kr607.01M	52.29	22.29%	0.48%	27.82%	305.33%
FREJA	50 Neutral	kr426.99M	-26.07	―	―	19.18%	48.44%
CLAV	50 Neutral	kr1.55B	174.76	―	―	20.43%	61.67%
CYB1	40 Underperform	€727.43K	-3.26	277.20%	―	―	―