Iconovo AB (ICO) AI Stock Analysis

• Market Cap: kr104.80M
• Dividend Yield: N/A
• Average Volume (3M): 46.24K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.25
• Revenue Growth: -74.09%
• EPS Growth: 26.59%
• Country: SE
• Employees: 26
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.42
• Shares Outstanding: 53,061,250
• 10 Day Avg. Volume: 58,575
• 30 Day Avg. Volume: 46,237
• 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: 1.01% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 44 Neutral
• Price Target: kr2.00 ▲(1.01% Upside)

The overall stock score is primarily impacted by Iconovo AB's weak financial performance, characterized by declining revenues and persistent losses. Technical analysis provides a slightly positive outlook due to some bullish momentum, but this is offset by neutral indicators. Valuation remains unattractive due to negative earnings and lack of dividends.

Iconovo AB Business Overview & Revenue Model

Company Description

Iconovo AB (ICO) is a Swedish pharmaceutical company specializing in the development of inhalation products, particularly for the treatment of respiratory diseases. The company focuses on utilizing its proprietary inhalation platform to create innovative drug delivery solutions, which are aimed at improving patient adherence and treatment outcomes. Iconovo's core products include inhalers and formulations designed for various therapeutic applications, with a strong emphasis on partnering with pharmaceutical companies to enhance their product offerings.

How the Company Makes Money

Iconovo AB generates revenue primarily through the licensing of its inhalation technology and products to pharmaceutical companies. This includes upfront licensing fees, milestone payments tied to the progress of product development, and royalties on sales of products that utilize Iconovo's technology. The company also engages in contract development services, providing tailored solutions and expertise to partners looking to develop their own inhalation therapies. Collaborations with notable pharmaceutical companies enhance its revenue potential, as successful partnerships can lead to significant financial returns through shared development costs and commercialization success.

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: Negative
• Last Price: 1.98
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ICO, the sentiment is Negative. The current price of 1.98 is below the 20-day moving average (MA) of 2.16, below the 50-day MA of 2.20, and below the 200-day MA of 2.44, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 35.66 is Neutral, neither overbought nor oversold. The STOCH value of 72.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ICO.

Iconovo AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLS.B	58 Neutral	kr196.35M	―	-78.89%	―	57.14%	81.07%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SCIB	46 Neutral	€136.68M	―	-210.52%	―	34.78%	26.34%
ICO	44 Neutral	kr104.80M	―	―	―	-74.09%	26.59%
HEART	34 Underperform	€128.97M	―	―	―	―	―