Luxbright AB (LXB) AI Stock Analysis

• Market Cap: kr47.76M
• Dividend Yield: N/A
• Average Volume (3M): 49.93K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.10
• 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): kr35.75M

• Rating: 44 Neutral
• Price Target: kr0.34 ▼(-30.21% Downside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is held down primarily by weak financial performance—persistent operating losses, unstable margins, and ongoing cash burn—despite improving revenue and a low-debt balance sheet. Technicals add further pressure with a strong downtrend and bearish momentum. Valuation offers limited support because earnings are negative and no dividend yield is available.

Positive Factors

Low leverage / clean balance sheet

Minimal reported debt and low leverage materially reduce solvency risk and give management flexibility to fund R&D or endure further operating losses without immediate refinancing. This durable cushion supports strategic options and extends runway compared with highly levered peers.

Accelerating revenue growth

Sustained acceleration in revenue over recent annual periods indicates improving commercial traction and market adoption of core offerings. Durable top-line growth is a prerequisite for future operating leverage and eventual profitability if cost structure normalizes.

Specialized X‑ray tech in Medical Devices

Operating in medical devices with a focused X‑ray technology offers structural demand and potential differentiation. Specialized clinical equipment typically faces higher barriers to entry and long product lifecycles, supporting durable revenue visibility once clinical adoption and regulatory clearance scale.

Negative Factors

Persistent operating losses

Consistent, sizable operating losses erode equity and constrain reinvestment capacity. Over a multi‑month horizon, sustained losses limit ability to self‑fund expansion, increase dependence on capital raises, and delay the point at which revenue growth converts into durable profitability.

Material negative operating cash flow

Repeated negative operating and free cash flow signal ongoing cash burn and likely reliance on external financing. This structural cash deficit elevates dilution or liquidity risk, constraining long‑term investment and making strategic execution dependent on successful fundraising.

Volatile and negative margins

Negative and inconsistent gross and operating margins indicate issues with pricing, cost control, or product mix that impede scalability. Without sustained margin improvement, revenue growth alone will not translate to profitable operations, prolonging the path to positive returns.

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 (2024–2025), but fundamentals remain weak: large and persistent net losses, deeply negative operating results, volatile/unstable margins (including negative gross margin in multiple years), and sustained negative operating cash flow/free cash flow. Minimal debt and a sizeable equity base reduce solvency risk but do not offset ongoing cash burn.

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: Negative
• Last Price: 0.48
• 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:LXB, the sentiment is Negative. The current price of 0.48 is above the 20-day moving average (MA) of 0.42, above the 50-day MA of 0.45, and below the 200-day MA of 0.63, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 39.01 is Neutral, neither overbought nor oversold. The STOCH value of 50.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:LXB.

Luxbright AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARCOMA	68 Neutral	kr114.75M	20.88	―	―	―	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SDOS	50 Neutral	kr55.98M	51.83	―	―	―	―
LXB	44 Neutral	kr47.76M	-2.89	-60.20%	―	163.12%	30.50%
SCIB	44 Neutral	kr218.69M	-1.97	-253.54%	―	36.15%	26.67%
CLS.B	44 Neutral	kr168.30M	-4.28	-63.39%	―	14.18%	72.73%
SPEC	43 Neutral	kr51.39M	-1.14	-50.21%	―	―	-108.64%