Iconovo AB (ICO) AI Stock Analysis

• Market Cap: kr136.90M
• Dividend Yield: N/A
• Average Volume (3M): 98.91K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.09
• Revenue Growth: -74.09%
• EPS Growth: 26.59%
• Country: SE
• Employees: 26
• Sector: Healthcare
• Sector Strength: 47
• Industry: Medical - Devices
• EPS (TTM): -0.42
• Shares Outstanding: 53,061,250
• 10 Day Avg. Volume: 79,532
• 30 Day Avg. Volume: 98,906
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: kr2.00
• Price Target Upside: -23.95% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 47 Neutral
• Price Target: kr2.00 ▼(-23.95% Downside)

Iconovo AB's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues and persistent losses. While technical analysis shows some short-term bullish signals, the negative P/E ratio and lack of dividend yield present significant valuation concerns. The absence of earnings call and corporate events data limits the analysis to these factors.

Iconovo AB Business Overview & Revenue Model

Company Description

Iconovo AB (publ) develops and licenses inhalation devices in Sweden. It develops ICOres, a flexible multi-dose dry powder inhaler; ICOcap, a capsule based dry powder inhaler; ICOone, a single-dose disposable dry powder inhaler; and ICOpre, a pre-metered dry powder inhaler, as well as provides customized inhalation solutions. It serves generic companies. The company has an agreement with Immune System Regulation AB for the development of an inhaled covid-19 vaccine in Iconovo's inhaler ICOone; and Respiratorius AB (publ) to develop inhalation product to treat COPD. Iconovo AB (publ) was founded in 2013 and is based in Lund, Sweden.

How the Company Makes Money

Iconovo AB generates revenue through the development and licensing of its proprietary inhalation devices and formulations to pharmaceutical companies. The company's key revenue streams include upfront fees from development agreements, milestone payments based on the progress of development stages, and royalties from commercialized products using its inhalation platforms. Iconovo also enters into strategic partnerships and collaborations with pharmaceutical firms, which can lead to co-development projects and shared profits from successful product launches. These partnerships are crucial for expanding its market reach and ensuring a steady flow of income through long-term licensing agreements.

Iconovo AB Financial Statement Overview

Summary

Iconovo AB faces significant financial challenges, with declining revenues and persistent losses impacting profitability. The balance sheet shows low leverage, which is a positive aspect, but the negative return on equity highlights inefficiencies. Cash flow issues further compound the company's financial difficulties, necessitating strategic interventions to stabilize and improve financial performance.

Income Statement

Iconovo AB's income statement shows significant challenges with declining revenue and negative profit margins. The TTM data reveals a sharp revenue decline of 53.67%, and the company has consistently reported negative net profit margins, with the latest at -7.04%. The gross profit margin is low at 2.58%, indicating high cost relative to revenue. These factors suggest financial instability and a need for strategic adjustments to improve profitability.

Balance Sheet

The balance sheet reflects a relatively low debt-to-equity ratio of 0.044, suggesting conservative leverage. However, the return on equity is negative at -34.91%, indicating that the company is not generating returns on shareholder investments. The equity ratio is stable, but the overall financial health is weakened by poor profitability metrics.

Cash Flow

Cash flow analysis shows negative operating and free cash flows, with a slight improvement in free cash flow growth at -10.15% in the TTM. The operating cash flow to net income ratio is negative, indicating cash flow challenges. The free cash flow to net income ratio is positive at 1.76, suggesting some efficiency in converting net income to cash, but overall cash flow remains a concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.18M	2.93M	7.08M	17.12M	15.41M	17.79M
Gross Profit	15.95M	19.13M	17.58M	17.24M	21.31M	20.81M
EBITDA	-32.32M	-29.83M	-35.29M	-38.73M	-24.90M	-16.62M
Net Income	-43.52M	-41.14M	-45.89M	-50.31M	-26.16M	-17.13M
Balance Sheet
Total Assets	156.26M	145.69M	128.08M	121.27M	148.54M	101.04M
Cash, Cash Equivalents and Short-Term Investments	37.01M	29.76M	18.48M	13.45M	94.94M	61.69M
Total Debt	6.19M	7.90M	7.72M	10.03M	0.00	0.00
Total Liabilities	16.88M	16.47M	14.55M	31.97M	11.51M	8.32M
Stockholders Equity	139.39M	129.21M	113.53M	89.29M	137.03M	92.73M
Cash Flow
Free Cash Flow	-42.93M	-46.44M	-61.43M	-80.65M	-36.91M	-28.54M
Operating Cash Flow	-24.43M	-24.54M	-38.60M	-43.70M	-11.01M	-15.96M
Investing Cash Flow	-18.50M	-21.90M	-22.91M	-36.95M	-25.99M	-12.58M
Financing Cash Flow	51.09M	52.65M	66.55M	-936.22K	70.25M	1.07M

Iconovo AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.63
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ICO, the sentiment is Positive. The current price of 2.63 is above the 20-day moving average (MA) of 2.19, above the 50-day MA of 2.09, and below the 200-day MA of 2.80, indicating a neutral trend. The MACD of 0.12 indicates Negative momentum. The RSI at 70.01 is Negative, neither overbought nor oversold. The STOCH value of 82.60 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ICO.

Iconovo AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.81B	-0.22	-40.01%	2.29%	21.48%	-2.11%
ICO	47 Neutral	kr136.90M	―		―	-74.09%	26.59%
5J3	―	€12.95M	―	-210.52%	―	―	―
LS60	―	€15.73M	―	-78.89%	―	―	―
7820	―	€7.75M	―		―	―	―
SDOS	―	kr75.82M	237.72		―	―	―
ARCOMA	―	kr121.34M	22.06		―	―	―