Nanologica AB (SE:NICA)
:NICA
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Nanologica AB
(NICA)
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Rating:57Neutral
Price Target:
kr0.69
▼(-7.30% Downside)
Action:Reiterated
Date:05/23/26
The score is held back primarily by weak financial performance (ongoing operating losses, negative free cash flow, and rising leverage), despite strong revenue growth. Technicals are moderately supportive with improving momentum versus key shorter-term averages, while valuation appears attractive based on the very low P/E.
Positive Factors
Revenue Growth
Sustained TTM revenue growth (+50.7%) indicates accelerating commercial traction in pharmaceutical purification. Durable top-line momentum supports scaling manufacturing and recurring consumable sales, increasing the likelihood of achieving operating leverage as adoption broadens.
Negative Factors
Negative Cash Flow
Persistent negative operating and free cash flow (~-26.9M and -27.9M TTM) forces reliance on external financing. Ongoing cash burn raises dilution and refinancing risk, constrains capital spending for capacity or R&D, and reduces resilience if revenue growth slows.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained TTM revenue growth (+50.7%) indicates accelerating commercial traction in pharmaceutical purification. Durable top-line momentum supports scaling manufacturing and recurring consumable sales, increasing the likelihood of achieving operating leverage as adoption broadens.
Read all positive factors
Nanologica AB (NICA) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr240.66M
Dividend YieldN/A
Average Volume (3M)111.94K
Price to Earnings (P/E)0.1
Beta (1Y)1.31
Revenue Growth57.22%
EPS GrowthN/A
CountrySE
Employees16
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.27
Shares Outstanding328,769,840
10 Day Avg. Volume89,035
30 Day Avg. Volume111,941
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)3.04
Price to Sales (P/S)3.26
P/FCF Ratio-1.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)kr83.10M
Nanologica AB Business Overview & Revenue Model
Company Description
Nanologica AB (publ), a nanotechnology company, develops nanoporous silica for applications in the life science industry. The company offers nanoporous silica particles for drug development and chromatography separation. It provides NLAB Silica, a...
How the Company Makes Money
Nanologica makes money primarily by selling its silica-based products and related services to customers in the pharmaceutical and life science sectors. Key revenue streams include (1) product revenue from chromatographic media used in purification...
Nanologica AB Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
46
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 31.84M | 21.13M | 14.54M | 1.44M | 1.55M | 12.91M |
| Gross Profit | -33.57M | -49.40M | 4.29M | -76.00K | 3.23M | 4.92M |
| EBITDA | -33.09M | -34.55M | -45.17M | -62.12M | -38.36M | -31.13M |
| Net Income | 25.14M | -51.29M | -65.63M | -75.16M | -55.09M | -50.13M |
Balance Sheet | ||||||
| Total Assets | 262.32M | 88.11M | 143.10M | 77.43M | 154.51M | 98.32M |
| Cash, Cash Equivalents and Short-Term Investments | 39.25M | 3.55M | 48.43M | 10.05M | 70.32M | 11.70M |
| Total Debt | 119.07M | 21.47M | 50.94M | 666.00K | 4.69M | 9.79M |
| Total Liabilities | 164.82M | 65.47M | 68.99M | 79.33M | 81.36M | 46.72M |
| Stockholders Equity | 97.50M | 22.64M | 74.11M | -1.90M | 73.16M | 51.60M |
Cash Flow | ||||||
| Free Cash Flow | -27.90M | -40.88M | -81.48M | -56.83M | -53.78M | -53.74M |
| Operating Cash Flow | -26.90M | -39.88M | -80.73M | -35.85M | -45.22M | -46.49M |
| Investing Cash Flow | -4.59M | -1.08M | -742.00K | -20.35M | -7.14M | -7.25M |
| Financing Cash Flow | 11.34M | -3.21M | 120.23M | -4.09M | 111.70M | -1.64M |
Nanologica AB Technical Analysis
Positive
0.74
Price Trends
0.50
Positive
0.51
Positive
0.86
Negative
Market Momentum
0.01
Negative
60.14
Neutral
55.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NICA, the sentiment is Positive. The current price of 0.74 is above the 20-day moving average (MA) of 0.59, above the 50-day MA of 0.50, and below the 200-day MA of 0.86, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 60.14 is Neutral, neither overbought nor oversold. The STOCH value of 55.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:NICA.
Nanologica AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | kr240.66M | 0.14 | -294.38% | ― | 57.22% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | kr86.00M | -2.58 | -106.95% | ― | -93.63% | 29.30% | |
46 Neutral | kr76.16M | -2.76 | -21.31% | ― | -100.00% | 11.65% | |
44 Neutral | kr93.57M | -1.81 | -72.82% | ― | 33.12% | 64.71% | |
44 Neutral | kr125.65M | -1.48 | -52.45% | ― | -5.23% | 47.93% | |
42 Neutral | kr21.49M | -1.86 | -120.13% | ― | ― | 24.27% |
* Healthcare Sector Average
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Nanologica AB Corporate Events
Nanologica AGM Carries Forward Losses, Cuts Share Capital and Expands Issue Mandate
May 21, 2026
Nanologica AB’s 2026 Annual General Meeting approved the 2025 financial statements and decided that the accumulated loss of SEK 50.2 million will be carried forward, meaning no dividend will be paid for the year. The meeting also granted dis...
Nanologica Boosts Q1 Profit on Syntagon Deal and Strengthens Balance Sheet
May 20, 2026
Nanologica reported a strong first quarter, with net sales roughly doubling to SEK 21.5 million and operating profit boosted to SEK 66.5 million, largely due to the acquisition of Syntagon being booked as operating income. Earnings per share turne...
Nanologica Boosts Share Capital After Completion of New Share Issues
Apr 30, 2026
Nanologica AB, headquartered in Södertälje and listed on Nasdaq Stockholm, focuses on advanced purification consumables for peptide-based pharmaceuticals and operates contract manufacturing through its Syntagon unit. The company targets ...
Nanologica’s Syntagon Hires Vice President Business Development to Drive Growth
Apr 27, 2026
Syntagon AB, the contract manufacturing subsidiary of Nanologica, has created a new role of Vice President Business Development and hired industry veteran Alexandra Pichard Nielsen to drive a more sales-focused strategy. The move follows Nanologic...
Nanologica Publishes Comprehensive Annual Report for 2025
Apr 24, 2026
Nanologica AB has released its Annual Report 2025, providing investors and stakeholders with a comprehensive overview of the company’s strategic direction, market environment, sustainability work, and corporate governance framework. The repo...
Nanologica Reshapes Leadership After Syntagon Acquisition to Drive Profitability
Apr 23, 2026
Nanologica AB, a Swedish life science tools company listed on Nasdaq Stockholm, focuses on advanced consumables for peptide drug purification and benefits from structural growth in diabetes and obesity treatments, while its subsidiary Syntagon pro...
Nanologica Calls AGM With Loss Carryforward and Unchanged Board Fees
Apr 21, 2026
Nanologica AB has called its shareholders to the annual general meeting on 21 May 2026 in Stockholm, setting the formal agenda for approving its 2025 financial statements, electing board members and auditors, and deciding on remuneration and capit...
Nanologica Wins SEK 2 Million Production-Scale Order for Peptide Purification Media
Apr 17, 2026
Nanologica AB, a Swedish life science tools specialist, supplies advanced silica-based purification media to global pharmaceutical manufacturers, with a focus on peptide drugs like insulin and GLP-1 analogues. The company operates in a growing nic...
Nanologica Expands Share Capital Through Directed Issues
Mar 31, 2026
Nanologica AB, headquartered in Södertälje and listed on Nasdaq Stockholm’s Main Market, focuses on tools and contract manufacturing for peptide-based pharmaceuticals, targeting efficiency and cost reductions for drug makers. Throu...
Nanologica Reports Minor Neighboring Lab Incident With No Operational Damage
Mar 29, 2026
Nanologica AB reported that a minor explosion occurred over the weekend in an oven at a neighboring company sharing its office and laboratory corridor, triggering the sprinkler system and causing water to spread through the premises without injuri...
Nanologica Completes Fully Underwritten SEK 82.5 Million Rights Issue
Mar 26, 2026
Nanologica AB has completed a fully subscribed rights issue of approximately SEK 82.5 million, after a subscription period that saw 63.3 percent taken up by existing and other shareholders, with the remainder covered by underwriting commitments. T...
Nanologica Board Set for Overhaul With New Industry Heavyweights
Mar 10, 2026
Nanologica’s nomination committee has proposed Mark Quick, a partner at Flerie AB with extensive MA and corporate development experience from Recipharm and other pharma companies, and Erik Haeffler, CEO of APL and former manufacturing and su...
Nanologica Raises Capital Through Fully Subscribed Directed Share Issues
Mar 10, 2026
Nanologica AB has completed two directed share issues totaling 34,203,780 new shares, all of which were subscribed and allotted as planned. The issues, priced at SEK 0.40 per share, strengthen the company’s capital base as it pursues growth ...
Nanologica Publishes Information Document for SEK 96 Million Share and Rights Issues
Mar 6, 2026
Nanologica AB has published an information document tied to recently resolved directed share issues totaling about SEK 13.7 million and a rights issue of roughly SEK 82.5 million before costs. The document, prepared under the EU Prospectus Regulat...
Nanologica Shareholders Approve Capital Expansion, Acquisition Financing and Rights Issue
Mar 4, 2026
Nanologica AB’s extraordinary general meeting approved changes to the articles of association, raising the permitted range for share capital and total shares to enable a substantial expansion of the company’s equity base. The meeting a...
Nanologica boosts purification media pipeline, buys Syntagon and launches SEK 96m equity issues
Feb 26, 2026
Nanologica reported 2025 net sales of SEK 21.1 million, up from SEK 14.5 million, while narrowing its full-year operating loss to SEK 46.8 million and loss after tax to SEK 51.3 million, though cash and cash equivalents fell sharply to SEK 3.5 mil...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.