Luxbright AB (LXB) AI Stock Analysis

• Market Cap: kr64.68M
• Dividend Yield: N/A
• Average Volume (3M): 49.93K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.13
• Revenue Growth: 163.12%
• EPS Growth: 30.50%
• Country: SE
• Employees: 10
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.07
• Shares Outstanding: 130,148,010
• 10 Day Avg. Volume: 14,295
• 30 Day Avg. Volume: 49,930
• PEG Ratio: 0.49
• Price to Book (P/B): 2.09
• Price to Sales (P/S): 4.94
• 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: 44 Neutral
• Price Target: kr0.41 ▼(-15.62% Downside)

The score is held down primarily by heavy ongoing losses and sustained cash burn, despite improving revenue momentum and a low-debt balance sheet. Technicals add further pressure as the stock is in a pronounced downtrend with weak momentum. Valuation provides limited support because earnings are negative and no dividend yield is available.

Positive Factors

Accelerating Revenue Growth

Sustained top-line acceleration across two consecutive years indicates improving product-market fit and commercial traction. Over 2–6 months this trend supports revenue scalability, helping justify continued R&D and market investment if margins and cash conversion follow.

Low Financial Leverage

Minimal reported debt materially lowers solvency risk and interest burden, giving management flexibility to pursue investment or raise capital without immediate refinancing pressure. This durable balance-sheet strength reduces short-to-medium term default and liquidity risk.

Equity Cushion Relative to Assets

A sizable equity base versus assets provides a buffer against losses and supports continued operations while the business scales. This structural capital cushion preserves optionality for strategic moves or fundraising over multiple quarters despite ongoing losses.

Negative Factors

Persistent Operating Cash Burn

Consistently negative operating cash flow indicates the core business consumes cash rather than generates it, creating reliance on external funding or equity dilution. Over months this limits runway, constrains reinvestment, and elevates financing and execution risk.

Large, Persistent Net Losses

Sustained, sizable net losses show the company has not yet achieved profitability or returns on capital. This erodes shareholder equity over time, reduces capacity to self-fund growth, and increases dependence on dilutive financing absent a clear path to margin improvement.

Volatile and Occasionally Negative Gross Margins

Negative and volatile gross margins suggest the product cost structure or pricing model is unstable, limiting durable operating leverage. Without consistent positive gross margins, scaling revenue may worsen losses and impede sustainable profitability over the medium term.

Luxbright AB Business Overview & Revenue Model

Company Description

Luxbright AB (publ), a technology company, develops and commercializes X-ray tubes, generators, and X-ray systems to system suppliers. The company was incorporated in 2012 and is headquartered in Gothenburg, Sweden.

How the Company Makes Money

Luxbright AB generates revenue through multiple streams, primarily by selling its range of LED lighting products to wholesalers, retailers, and direct consumers. The company also offers tailored lighting design services, which provide added value to commercial clients looking to optimize their lighting solutions for energy savings and aesthetic appeal. Additionally, LXB has established strategic partnerships with construction firms and energy service companies, allowing it to integrate its products into larger projects and benefit from shared revenue opportunities. The company's focus on research and development enables it to stay competitive, introducing innovative products that cater to evolving market demands, further enhancing its revenue potential.

Luxbright AB Financial Statement Overview

Summary

Revenue is accelerating, but fundamentals remain weak: large, persistent net losses and deeply negative operating results, with volatile/occasionally negative gross margins. Cash flow is a major risk with consistently negative operating cash flow and mostly negative free cash flow, partially offset by a low-debt balance sheet that reduces near-term solvency pressure.

Income Statement

Revenue has accelerated sharply in the last two annual periods (2024–2025), indicating improving commercial traction. However, profitability remains very weak: net losses are large and persistent, and operating results are deeply negative across all years provided. Margins are volatile (including negative gross margin in 2025 and 2023), suggesting an unstable cost structure and limited operating leverage so far.

Balance Sheet

The balance sheet is a relative strength: reported debt is minimal to zero across periods and leverage appears very low, reducing financial risk. Equity remains sizable versus total assets, providing some cushion. The key weakness is consistently negative returns on shareholders’ capital, reflecting ongoing losses and indicating that the equity base is being used unprofitably at present.

Cash Flow

Cash generation is a major concern: operating cash flow is materially negative every year shown, implying the business is consuming cash to fund operations. Free cash flow is also negative in most periods, and 2025 shows no free cash flow despite continued cash burn in operations. Overall, cash flow trends point to continued reliance on external funding or balance-sheet resources until profitability improves.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	11.41M	9.02M	854.70K	811.70K	729.00K
Gross Profit	-21.37M	8.88M	-2.80M	189.12K	1.98M
EBITDA	-16.76M	-15.72M	-23.87M	-20.47M	-17.63M
Net Income	-19.46M	-17.72M	-25.38M	-21.13M	-18.10M
Balance Sheet
Total Assets	39.38M	42.66M	40.69M	31.19M	23.99M
Cash, Cash Equivalents and Short-Term Investments	5.29M	12.36M	14.04M	7.60M	7.51M
Total Debt	0.00	254.19K	206.02K	588.34K	1.10M
Total Liabilities	12.49M	8.46M	7.00M	3.33M	3.36M
Stockholders Equity	26.89M	34.20M	33.69M	27.86M	20.63M
Cash Flow
Free Cash Flow	0.00	-16.52M	-20.39M	-20.64M	-17.14M
Operating Cash Flow	-19.87M	-16.52M	-20.39M	-20.64M	-17.14M
Investing Cash Flow	-3.65M	-3.44M	-3.99M	-7.15M	-4.15M
Financing Cash Flow	16.46M	18.28M	30.82M	27.88M	-708.00K

Luxbright AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.48
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:LXB, the sentiment is Neutral. The current price of 0.48 is below the 20-day moving average (MA) of 0.48, below the 50-day MA of 0.52, and below the 200-day MA of 0.66, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 50.34 is Neutral, neither overbought nor oversold. The STOCH value of 44.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:LXB.

Luxbright AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARCOMA	58 Neutral	kr103.88M	22.65	―	―	―	―
CLS.B	55 Neutral	kr237.80M	-4.46	-63.39%	―	14.18%	72.73%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SDOS	50 Neutral	kr59.58M	-43.18	―	―	―	―
LXB	44 Neutral	kr64.68M	-3.02	-60.20%	―	163.12%	30.50%
SCIB	44 Neutral	kr207.09M	-0.97	-253.54%	―	36.15%	26.67%
SPEC	42 Neutral	kr71.50M	-0.48	-50.21%	―	―	-108.64%