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): 0.07
• Revenue Growth: -19.87%
• EPS Growth: 5.18%
• Country: SE
• Employees: 21
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -0.08
• 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: 43 Neutral
• Price Target: kr0.40 ▼(-20.80% Downside)
• Action: Upgraded Date: 03/03/26
• Date: Action: Upgraded 03/03/26

The score is primarily held down by weak financial performance—declining revenue, recently negative gross profit, ongoing losses, and sustained cash burn. Technicals add pressure with the stock trading below key moving averages and negative MACD. Low leverage on the balance sheet provides some stability, but valuation support is limited due to negative earnings and no dividend.

Positive Factors

Recurring software licensing model

A licensing/subscription plus services model creates recurring revenue and customer stickiness common in enterprise life-science software. Over a multi-month horizon this supports predictability of revenue and upsell opportunities (support, training, modules), which can stabilize cash flow as adoption deepens.

Specialized omics analytics product

A focused, domain-specific platform for omics data gives Qlucore a durable competitive position in high-barrier technical workflows. Specialized tools that integrate into research and diagnostics tend to have stickier customers, higher switching costs and sustained structural demand as omics data generation grows.

Low financial leverage

Very modest debt levels reduce near-term refinancing and interest burdens, giving the company more financial flexibility. With ongoing losses, low leverage lessens default risk and preserves optionality for restructuring, R&D prioritization, or measured capital raises over the coming months.

Negative Factors

Declining revenue and negative gross profit

Revenue contraction combined with negative gross profit signals that core product economics no longer cover direct costs. This is a structural red flag: unless pricing, product mix or cost base is addressed, gross-margin erosion will continue to undermine long-term profitability and the ability to scale sustainably.

Persistent negative cash flow

Continued negative operating and free cash flow, and a material TTM FCF decline, create funding risk and limit reinvestment capacity. Over a multi-month horizon this constrains product development, sales expansion and increases likelihood of dilutive financing if profitability and cash conversion are not restored.

Sustained operating losses and equity erosion

Large, persistent losses that erode shareholders' equity weaken the balance sheet and reduce resilience to shocks. This diminishes the firm's ability to absorb setbacks or invest in growth, and raises the probability of future capital raises that could dilute existing holders if profitability is not achieved.

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

Financial performance is weak: TTM revenue declined (~11%), gross profit turned negative in the latest periods, and operating/net losses remain large. Cash flow is also a major concern with persistently negative operating and free cash flow and further TTM free-cash-flow deterioration. The balance sheet helps offset some risk with low leverage, but equity has trended down and ROE is consistently negative.

Income Statement

TTM (Trailing-Twelve-Months) revenue declined about 11%, and profitability remains deeply negative: gross profit is negative and operating and net margins are sharply below zero. While the company generated positive gross margins in earlier annual periods (2021–2024), the shift to negative gross profit in the latest periods signals meaningful cost/price pressure or mix issues, and losses have widened versus prior years.

Balance Sheet

Leverage is low, with debt modest relative to equity across periods (debt-to-equity roughly ~0.03–0.05 recently, higher only in 2021). However, equity has trended down materially from 2022–2024 levels, and returns on equity are consistently negative, reflecting ongoing losses that can continue to erode the capital base if not reversed.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative across all periods, with TTM (Trailing-Twelve-Months) free cash flow deteriorating further (down ~39%). A positive relationship between free cash flow and net loss in recent periods is driven by both being negative (not a sign of strength), and persistent cash burn raises funding risk if profitability doesn’t improve.

Breakdown	TTM	Apr 2024	Apr 2023	Apr 2022	Apr 2022	Apr 2021
Income Statement
Total Revenue	8.25M	10.21M	14.37M	12.67M	14.12M	12.94M
Gross Profit	-15.75M	-9.75M	7.40M	5.80M	5.43M	4.42M
EBITDA	-31.67M	-15.44M	-14.98M	-15.30M	-11.21M	-5.45M
Net Income	-35.08M	-20.54M	-15.68M	-15.94M	-11.66M	-6.04M
Balance Sheet
Total Assets	51.02M	69.95M	90.01M	109.36M	121.90M	46.24M
Cash, Cash Equivalents and Short-Term Investments	10.90M	5.26M	28.62M	69.73M	97.97M	27.56M
Total Debt	1.55M	2.00M	3.18M	4.46M	5.33M	4.63M
Total Liabilities	11.36M	11.49M	10.90M	14.63M	11.34M	9.68M
Stockholders Equity	39.65M	58.47M	79.11M	94.73M	110.56M	36.56M
Cash Flow
Free Cash Flow	-10.72M	-22.38M	-39.47M	-27.06M	-15.76M	-5.24M
Operating Cash Flow	-10.37M	-14.15M	-16.95M	-8.05M	-6.81M	-1.08M
Investing Cash Flow	-4.43M	-8.22M	-22.52M	-19.02M	-8.95M	-4.16M
Financing Cash Flow	13.79M	-1.18M	-1.27M	-808.00K	86.25M	28.28M

Qlucore AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.50
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:QCORE, the sentiment is Positive. The current price of 0.5 is above the 20-day moving average (MA) of 0.43, above the 50-day MA of 0.44, and below the 200-day MA of 0.52, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 54.32 is Neutral, neither overbought nor oversold. The STOCH value of 85.37 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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	kr438.21M	18.38	―	3.48%	―	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SFTR	58 Neutral	kr126.51M	224.82	―	―	―	―
FLOWS	52 Neutral	kr58.38M	24.78	―	―	―	―
QCORE	43 Neutral	―	-1.37	―	―	-19.87%	5.18%
DIVIO.B	43 Neutral	kr40.75M	-4.59	―	―	―	―