Mavshack AB (MAV) AI Stock Analysis

• Market Cap: kr3.20M
• Dividend Yield: N/A
• Average Volume (3M): 16.13M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.10
• Revenue Growth: -75.52%
• EPS Growth: 86.85%
• Country: SE
• Employees: 24
• Sector: Communication Services
• Sector Strength: 97
• Industry: Entertainment
• EPS (TTM): N/A
• Shares Outstanding: 799,935,900
• 10 Day Avg. Volume: 39,594,941
• 30 Day Avg. Volume: 16,131,113
• PEG Ratio: <0.01
• Price to Book (P/B): -0.45
• Price to Sales (P/S): 1.34
• P/FCF Ratio: -0.15
• 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: 41 Neutral
• Price Target: kr0.01 ▲(10.00% Upside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is primarily held down by weak financial performance: ongoing losses, negative equity, and significant cash burn with a reduced TTM revenue base. With no usable technical indicators and a negative P/E (and no dividend yield data), there are limited offsets to the elevated financial risk.

Positive Factors

Low debt / low refinancing risk

Near-zero reported debt materially reduces refinancing and interest-rate pressure over the medium term, giving management time to execute restructuring or pivot strategies. For a cash-burning media distributor, low leverage preserves optionality to raise capital or extend runway without heavy interest burden.

EBITDA turned positive; losses improving

A shift to positive TTM EBITDA and an improving loss trend indicate core operating economics may be stabilizing. If sustained, this improvement supports operational self-funding potential, reduces marginal cash needs, and signals management progress on cost structure or product mix improvements.

Lean operating footprint

A small headcount implies a low fixed-cost base and operational flexibility, making it faster and less costly to scale activities up or down. In a capital-constrained environment, a lean team reduces ongoing burn and preserves runway while strategic changes or new distribution partnerships are pursued.

Negative Factors

Negative shareholders' equity

Persistent negative equity reflects cumulative losses and eroded capital, weakening the company’s financial cushion. This reduces borrowing capacity, deters some institutional investors, increases going-concern and covenant risks, and makes equity raises more dilutive or difficult over the medium term.

Sustained operating cash burn

Consistent negative operating and free cash flow signals the business cannot self-fund operations or investments. Ongoing cash burn creates dependency on external financing, heightens dilution risk, and limits strategic options, making long-term recovery contingent on securing repeat funding or rapid margin improvement.

Shrinking revenue base

A steep decline in revenues over multiple years undermines scale economics and indicates weakening market traction or monetization. A very small revenue base makes profitability and cash-flow improvements fragile and increases execution risk for any growth or diversification initiatives.

Mavshack AB Business Overview & Revenue Model

Company Description

Mavshack AB (publ), together with its subsidiaries, engages in the digital entertainment business in Sweden and internationally. The company offers encryption and transcoding services to customize streaming solutions; subscription-based streaming video on demand services for Asian entertainment content, including live-sport, movies, TV-shows, and audiobooks; and personal IT-consultancy advisory services, including applications, Websites, business systems, and digital infrastructure. It is also involved in the animation and, audio- and video production; and post-production, sound production, live event, augmented reality, and content distribution businesses. The company was formerly known as 24h Technologies AB and changed its name to Mavshack AB (publ) in April 2013. Mavshack AB (publ) was founded in 2007 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Mavshack AB generates revenue primarily through subscription fees from its streaming service. Users pay a monthly or annual fee to access the content library, which includes exclusive and licensed Asian films and series. Additionally, the company may generate revenue through advertising partnerships, offering ad placements within its platform to brands targeting its specific audience demographics. Mavshack also explores potential revenue streams through strategic partnerships with content providers and telecom operators to expand its market reach and enhance its content offerings.

Mavshack AB Financial Statement Overview

Summary

Financials indicate very high risk: sharply lower TTM revenue, persistent losses and negative operating profit, negative shareholders’ equity, and materially worse negative operating cash flow and free cash flow in TTM. Near-zero debt is a limited positive, but weak capitalization and sustained cash burn dominate.

Income Statement

TTM (Trailing-Twelve-Months) revenue is sharply lower than recent years (SEK 3.4m vs SEK 11.4m in 2024 and SEK 16.2m in 2023), despite a high stated growth rate off a low base. Profitability remains weak: net income is still deeply negative (TTM -SEK 5.5m; 2024 -SEK 17.6m), and operating profit is negative across all periods. A key positive is the improvement in the direction of losses versus 2023–2024 and the TTM EBITDA turning positive, but earnings quality is fragile given the very low revenue base and continued negative operating results.

Balance Sheet

The balance sheet is constrained by consistently negative shareholders’ equity from 2023 through TTM (TTM -SEK 10.1m; 2024 -SEK 15.8m), which signals accumulated losses and weak financial flexibility. Total debt is near zero, which reduces refinancing risk, but the lack of equity capital increases going-concern and funding risk. Total assets have also declined meaningfully (TTM SEK 13.9m vs SEK 26.6m in 2024), pointing to a smaller operating footprint and limited cushion against ongoing losses.

Cash Flow

Cash generation is a major weakness: operating cash flow is negative in every period and worsened materially in TTM (TTM -SEK 21.5m vs 2024 -SEK 3.7m). Free cash flow is also consistently negative and deeply so in TTM (TTM -SEK 31.0m), indicating ongoing cash burn. While the relationship between free cash flow and net income can look favorable when both are negative, the practical takeaway is that the business has not demonstrated the ability to self-fund operations, increasing dependence on external financing.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.37M	11.44M	16.22M	39.66M	48.88M
Gross Profit	-10.54M	8.67M	12.81M	20.86M	36.33M
EBITDA	-4.63M	-7.81M	-13.70M	-39.27M	-30.13M
Net Income	-5.45M	-17.58M	-18.91M	-45.66M	-35.67M
Balance Sheet
Total Assets	13.87M	26.63M	36.53M	37.03M	54.34M
Cash, Cash Equivalents and Short-Term Investments	213.71K	74.48K	533.53K	1.00M	3.31M
Total Debt	0.00	0.00	0.00	26.13K	0.00
Total Liabilities	23.95M	42.46M	41.34M	30.73M	30.08M
Stockholders Equity	-10.08M	-15.83M	-4.81M	6.30M	24.26M
Cash Flow
Free Cash Flow	-30.80M	-19.31M	-8.31M	-26.42M	-40.50M
Operating Cash Flow	-21.55M	-3.70M	-4.20M	-23.54M	-30.18M
Investing Cash Flow	5.06M	-12.62M	-4.11M	-7.52M	-10.29M
Financing Cash Flow	16.62M	15.86M	7.84M	28.75M	42.17M

Mavshack AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.01
• 50DMA: Negative
• 100DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MAV, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, below the 50-day MA of 0.02, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 39.72 is Neutral, neither overbought nor oversold. The STOCH value of 38.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:MAV.

Mavshack AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
GBK	46 Neutral	kr28.92M	-1.31	―	―	33.98%	-104.57%
FRAG	44 Neutral	kr55.73M	53.24	-229.41%	―	-10.21%	-1.15%
MAV	41 Neutral	kr3.20M	-0.80	―	―	-75.52%	86.85%
QIIWI	41 Neutral	kr15.91M	-2.01	-31.43%	―	-34.32%	70.25%