Klaria Pharma Holding AB (KLAR) AI Stock Analysis

• Market Cap: kr287.79M
• Dividend Yield: N/A
• Average Volume (3M): 401.28K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.57
• Revenue Growth: N/A
• EPS Growth: 17.42%
• Country: SE
• Employees: 4
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.04
• Shares Outstanding: 245,976,150
• 10 Day Avg. Volume: 684,621
• 30 Day Avg. Volume: 401,283
• PEG Ratio: -0.16
• Price to Book (P/B): 12.62
• Price to Sales (P/S): 18.57
• P/FCF Ratio: -3.50
• 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: 49 Neutral
• Price Target: kr1.00 ▲(63.93% Upside)

The score is held back primarily by heavy losses and sustained cash burn despite improving revenue and gross margin. Technicals are supportive with strong trend signals, but overbought indicators temper the outlook, while valuation is constrained by negative earnings and no stated dividend yield.

Positive Factors

Proprietary technology & business model

Owning a proprietary mucoadhesive oral film platform and a partnership/licensing strategy supports scalable commercialization without requiring full-build commercial infrastructure. This durable model can generate recurring licensing revenue, reduce capex needs, and enable faster market entry through partners.

Revenue rebound and improving gross margin

A sustained revenue rebound and materially higher gross margin signal improving product traction or better pricing/production economics. If maintained, this trend supports future operating leverage, reduces the gap to profitability, and validates the commercial appeal of the company’s offerings over the medium term.

Elimination of reported debt

Removing debt materially lowers solvency risk and interest obligations, preserving cash for R&D or strategic initiatives. The shift from high leverage to zero debt improves funding optionality and reduces bankruptcy risk, making the balance sheet structurally more resilient to ongoing investment cycles.

Negative Factors

Persistent cash burn

Sustained negative operating and free cash flow of this magnitude indicates the business is not self-funding and must access external capital repeatedly. Over the medium term, persistent burn pressures leverage, dilutes shareholders through financing, and constrains the company’s ability to scale without new funds.

Deep and recurring net losses

Very large and recurring operating losses signal the cost base far exceeds current revenue scale. This structural deficit suggests the business remains in an intensive development phase and faces a prolonged path to profitability unless revenues scale substantially or operating costs are materially reduced.

Thin equity buffer versus assets

A small equity base relative to assets leaves limited capitalization cushion against ongoing losses and increases dependence on external financing. Structurally, this raises dilution and refinancing risk over months, and reduces flexibility to absorb operational setbacks or execute large strategic investments.

Klaria Pharma Holding AB Business Overview & Revenue Model

Company Description

Klaria Pharma Holding AB (publ.) operates as a pharmaceutical company in Sweden and internationally. It offers Sumatriptan for the treatment of migraine; and Midazolam for acute epilepsy. The company's clinical phase products include Epinephrine/Adrenaline for the treatment of acute allergic reaction; Naloxone for opioid overdose; and Ketamine for acute pain and depression. It also focuses on the commercialization of cannabis/cannabinoids, including THC and CBD for medical and recreational applications. The company was founded in 2014 and is based in Uppsala, Sweden.

How the Company Makes Money

Klaria Pharma makes money primarily through the development and commercialization of its proprietary drug delivery products. The company's revenue streams include licensing agreements, partnerships with other pharmaceutical companies, and the direct sale of their medicinal products. Klaria Pharma often collaborates with larger pharmaceutical firms to apply its drug delivery technology to existing medications, enhancing their efficacy and marketability. These collaborations and partnerships are crucial to the company's revenue, as they provide upfront payments, milestone payments, and royalties from product sales. Additionally, Klaria Pharma may engage in research and development contracts that further support its financial growth.

Klaria Pharma Holding AB Financial Statement Overview

Summary

Revenue rebounded strongly TTM (~42% growth) with improved gross margin (~47%) and no reported debt, but fundamentals remain weak with deeply negative EBITDA/EBIT, very large net losses (net margin ~-456%), and persistent operating/free cash flow burn (~-31.3M).

Income Statement

TTM (Trailing-Twelve-Months) revenue rebounded to ~10.1M with solid growth (~42%) and a healthier gross margin (~47%). However, profitability remains very weak: EBIT and EBITDA are deeply negative and net income is a large loss (net margin roughly -456%), indicating the cost base is far above the current revenue scale. Annual results also show highly volatile revenue (sharp drop in 2024 vs. 2023), reinforcing that the business is still in a heavy investment/burn phase rather than an earnings phase.

Balance Sheet

TTM (Trailing-Twelve-Months) balance sheet shows no reported debt, which meaningfully reduces near-term financial risk. That said, the equity base is very small (~4.5M) relative to assets (~47.4M), leaving limited buffer if losses continue. The sharp shift from high leverage in 2024 (debt-to-equity ~7.0x) to zero debt in TTM suggests a major capital structure change that improves solvency optics, but the company still appears reliant on maintaining funding capacity given ongoing losses.

Cash Flow

Cash generation remains a key pressure point: TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are both about -31.3M, implying a sizable ongoing cash burn. While free cash flow improved versus the prior annual period (strong growth rate off a low base), cash flow is still consistently negative across years, and operating cash flow does not cover net losses in a way that signals a near-term self-funding model.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	10.09M	2.25M	8.45M	5.87M	6.11M	7.22M
Gross Profit	4.74M	2.25M	8.45M	5.87M	-4.85M	-6.21M
EBITDA	-13.82M	-19.99M	-20.81M	-44.80M	-39.41M	-35.41M
Net Income	-46.02M	-47.75M	-35.78M	-63.77M	-53.53M	-51.44M
Balance Sheet
Total Assets	47.43M	57.27M	72.95M	120.27M	118.31M	132.41M
Cash, Cash Equivalents and Short-Term Investments	2.54M	598.00K	1.25M	16.76M	25.49M	31.25M
Total Debt	0.00	23.07M	18.93M	17.09M	31.72M	10.26M
Total Liabilities	42.88M	53.96M	31.81M	44.19M	48.89M	22.81M
Stockholders Equity	4.55M	3.31M	41.13M	76.08M	69.41M	109.59M
Cash Flow
Free Cash Flow	-31.28M	-11.94M	-3.37M	-49.77M	-24.80M	-35.33M
Operating Cash Flow	-31.28M	-11.94M	-9.06M	-49.73M	-24.80M	-35.30M
Investing Cash Flow	0.00	0.00	0.00	-42.00K	0.00	13.05M
Financing Cash Flow	33.59M	11.27M	-6.46M	41.06M	19.04M	50.56M

Klaria Pharma Holding AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.61
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:KLAR, the sentiment is Positive. The current price of 0.61 is below the 20-day moving average (MA) of 0.99, below the 50-day MA of 0.73, and below the 200-day MA of 0.63, indicating a bullish trend. The MACD of 0.12 indicates Negative momentum. The RSI at 68.66 is Neutral, neither overbought nor oversold. The STOCH value of 88.14 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:KLAR.

Klaria Pharma Holding AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
KLAR	49 Neutral	kr287.79M	-3.97	-530.21%	―	―	17.42%
NANEXA	48 Neutral	kr579.96M	-14.08	-48.65%	―	-60.33%	58.04%
ERMA	43 Neutral	kr114.87M	-1.29	―	―	―	―
ALZCUR	42 Neutral	kr221.21M	-4.76	-90.66%	―	―	15.74%
GABA	41 Neutral	kr13.77M	-0.74	―	―	―	72.30%