Qlucore AB (QCORE) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 106.36K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.09
• Revenue Growth: -19.87%
• EPS Growth: 5.18%
• Country: SE
• Employees: 21
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): N/A
• Shares Outstanding: 42,900,500
• 10 Day Avg. Volume: 135,027
• 30 Day Avg. Volume: 106,359
• PEG Ratio: -0.01
• Price to Book (P/B): 0.12
• Price to Sales (P/S): 0.71
• P/FCF Ratio: -0.32
• 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: 39 Underperform
• Price Target: kr0.39 ▼(-22.60% Downside)
• Action: Reiterated Date: 12/11/25
• Date: Action: Reiterated 12/11/25

Qlucore AB's overall stock score is significantly impacted by its poor financial performance, characterized by declining revenues, negative margins, and cash flow issues. The technical analysis indicates a bearish trend with limited momentum, and the valuation is unattractive due to a negative P/E ratio and lack of dividends. These factors collectively contribute to a low overall stock score.

Positive Factors

Specialized omics software with recurring licensing

Qlucore's core product is a specialized omics analysis platform sold via licenses and subscriptions to academia, biotech and pharma. That business model creates recurring revenue potential and service upsell opportunities, supporting steady long-term revenue if adoption holds.

Low financial leverage

A low debt load reduces fixed financial obligations and interest pressure, giving management flexibility to prioritize product investment or withstand revenue volatility. This balance sheet resilience is important when profitability and cash flow are strained.

Lean operating footprint / small team

A small headcount implies a lean cost structure that can extend runway and allow focused investment in product development and customer support. For a software vendor serving niche scientific markets, a compact, specialized team can improve unit economics and operational discipline.

Negative Factors

Sustained revenue decline

Nearly 20% revenue contraction signals weakening market traction or customer renewals. Persistent top-line decline impairs scale benefits, reduces recurring revenue predictability, and constrains investment in R&D and sales needed to regain commercial momentum over the medium term.

Negative gross and net margins

Reported negative gross and net margins indicate structural issues with pricing, costs, or product mix. Without margin recovery, the company cannot sustainably fund operations or growth internally, making long-term competitiveness and reinvestment dependent on external financing or major operational fixes.

Negative operating and free cash flow

Ongoing negative operating and free cash flow erodes liquidity and forces reliance on financing or equity dilution. Over months, weak cash conversion limits the firm's ability to support sales, customer success, and product development, increasing execution risk in a competitive software market.

Qlucore AB Business Overview & Revenue Model

Company Description

Qlucore AB (publ) provides bioinformatics data analysis tools for research and precision diagnostics in Sweden and internationally. Its products include Qlucore Omics Explorer, a bioinformatics AI software for research in life science, biotech, food, and plant industries, as well as academia; Qlucore Diagnostics, a software platform for multi-omics companion and precision diagnostics; and Qlucore Insights, a software for clinical data analysis. Qlucore AB (publ) was incorporated in 2007 and is headquartered in Lund, Sweden.

How the Company Makes Money

Qlucore generates revenue primarily through the sales of its software licenses and subscriptions for Qlucore Omics Explorer. The company offers different pricing tiers based on the features and support included, catering to a range of customers from academic institutions to pharmaceutical companies. In addition to direct software sales, Qlucore may also earn revenue from training services, technical support, and consulting services that help clients maximize the use of their software. The company has established partnerships with universities and research institutes, which not only enhance its credibility but also help in expanding its customer base, thus contributing to its overall earnings.

Qlucore AB Financial Statement Overview

Summary

Qlucore AB is facing significant financial challenges, with declining revenues and profitability, negative margins, and cash flow difficulties. While the company maintains a low level of debt, its inability to generate returns and cash flow from operations poses risks to its financial stability.

Income Statement

Qlucore AB has experienced declining revenue and profitability, with negative gross and net profit margins in the TTM period. The company has shown a significant revenue contraction and negative EBIT and EBITDA margins, indicating operational challenges and inefficiencies.

Balance Sheet

The company's balance sheet shows a low debt-to-equity ratio, indicating limited leverage, which is a positive aspect. However, the negative return on equity suggests that the company is not generating returns for shareholders, reflecting poor financial performance.

Cash Flow

Qlucore AB's cash flow statement reveals negative operating and free cash flows, with a declining free cash flow growth rate. The high free cash flow to net income ratio indicates cash flow issues, as the company struggles to convert income into cash.

Breakdown	TTM	Apr 2024	Apr 2023	Apr 2022	Apr 2022	Apr 2021
Income Statement
Total Revenue	9.28M	10.21M	14.37M	12.67M	14.12M	12.94M
Gross Profit	-10.95M	-9.75M	7.40M	5.80M	5.43M	4.42M
EBITDA	-29.81M	-15.44M	-14.98M	-15.30M	-11.21M	-5.45M
Net Income	-36.89M	-20.54M	-15.68M	-15.94M	-11.66M	-6.04M
Balance Sheet
Total Assets	54.10M	69.95M	90.01M	109.36M	121.90M	46.24M
Cash, Cash Equivalents and Short-Term Investments	15.04M	5.26M	28.62M	69.73M	97.97M	27.56M
Total Debt	1.70M	2.00M	3.18M	4.46M	5.33M	4.63M
Total Liabilities	11.15M	11.49M	10.90M	14.63M	11.34M	9.68M
Stockholders Equity	42.95M	58.47M	79.11M	94.73M	110.56M	36.56M
Cash Flow
Free Cash Flow	-17.66M	-22.38M	-39.47M	-27.06M	-15.76M	-5.24M
Operating Cash Flow	-13.36M	-14.15M	-16.95M	-8.05M	-6.81M	-1.08M
Investing Cash Flow	-4.30M	-8.22M	-22.52M	-19.02M	-8.95M	-4.16M
Financing Cash Flow	13.59M	-1.18M	-1.27M	-808.00K	86.25M	28.28M

Qlucore AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.50
• 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:QCORE, the sentiment is Neutral. The current price of 0.5 is above the 20-day moving average (MA) of 0.43, above the 50-day MA of 0.45, and below the 200-day MA of 0.52, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 49.37 is Neutral, neither overbought nor oversold. The STOCH value of 54.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:QCORE.

Qlucore AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GENI	75 Outperform	kr471.40M	15.19	―	3.48%	―	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SFTR	54 Neutral	kr131.23M	168.00	―	―	―	―
FLOWS	52 Neutral	kr59.56M	25.76	―	―	―	―
DIVIO.B	43 Neutral	kr37.57M	-3.68	―	―	―	―
QCORE	39 Underperform	―	-0.18	―	―	-19.87%	5.18%