Qiiwi Games AB (SE:QIIWI)
:QIIWI
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Qiiwi Games AB
(QIIWI)
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Rating:41Neutral
Price Target:
kr1.50
▼(-32.43% Downside)
Action:ReiteratedDate:02/23/26
The score is driven primarily by weak financial performance (multi-year revenue decline, persistent losses, and ongoing cash burn), which outweighs the benefit of having no debt. Technical indicators add further pressure due to a bearish trend and negative MACD, while valuation is constrained by loss-making results and the absence of a dividend.
Positive Factors
Debt-free balance sheet
Zero reported debt materially reduces refinancing and interest‑rate risk for a cash‑burning games publisher. This structural balance‑sheet strength preserves strategic optionality, lowers fixed financial costs, and gives management more flexibility to pursue restructuring, partnerships or equity raises without immediate solvency pressure.
Negative Factors
Multi-year revenue decline
A dramatic multi‑year fall in revenue erodes scale economics critical for free‑to‑play games. Shrinking top line weakens UA efficiency, reduces funds for live ops and content updates, and diminishes bargaining power with ad networks and stores, making a durable recovery harder without new hit titles or structural changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Zero reported debt materially reduces refinancing and interest‑rate risk for a cash‑burning games publisher. This structural balance‑sheet strength preserves strategic optionality, lowers fixed financial costs, and gives management more flexibility to pursue restructuring, partnerships or equity raises without immediate solvency pressure.
Read all positive factors
Qiiwi Games AB (QIIWI) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr15.68M
Dividend YieldN/A
Average Volume (3M)4.38K
Price to Earnings (P/E)―
Beta (1Y)0.56
Revenue Growth-34.32%
EPS Growth70.25%
CountrySE
Employees15
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)-0.10
Shares Outstanding9,249,492
10 Day Avg. Volume6,495
30 Day Avg. Volume4,380
Financial Highlights & Ratios
PEG Ratio-0.19
Price to Book (P/B)1.25
Price to Sales (P/S)1.30
P/FCF Ratio0.00
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)N/A
Qiiwi Games AB Business Overview & Revenue Model
Company Description
Qiiwi Games AB (publ) develops and publishes games for mobile platforms in Sweden. The company focuses on developing mobile games for casual gamers within the trivia, match-3, and word/puzzle genres. It has strategic cooperation agreements with Al...
How the Company Makes Money
Qiiwi Games primarily earns revenue from its free-to-play mobile games through in-game monetization. Key revenue streams typically include: (1) in-app purchases (IAP), where players pay for virtual currency, boosters, extra moves, cosmetic items, ...
Qiiwi Games AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
14
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 15.27M | 19.86M | 25.79M | 34.38M | 63.00M |
| Gross Profit | -1.57M | 19.33M | 26.36M | 30.74M | 55.81M |
| EBITDA | -4.55M | -3.61M | -17.26M | -6.36M | -5.58M |
| Net Income | -7.92M | -7.03M | -28.04M | -15.53M | -10.87M |
Balance Sheet | |||||
| Total Assets | 17.39M | 26.11M | 35.42M | 61.16M | 78.76M |
| Cash, Cash Equivalents and Short-Term Investments | 13.21M | 17.92M | 25.17M | 44.99M | 59.52M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.51M | 2.13M | 4.52M | 2.08M | 4.54M |
| Stockholders Equity | 15.88M | 23.98M | 30.90M | 59.07M | 71.61M |
Cash Flow | |||||
| Free Cash Flow | 0.00 | -8.68M | -19.83M | -18.81M | -18.08M |
| Operating Cash Flow | -4.51M | -6.41M | -14.72M | -11.13M | -12.38M |
| Investing Cash Flow | 4.53M | 1.00M | -20.11M | -7.74M | -6.19M |
| Financing Cash Flow | 0.00 | 0.00 | 0.00 | 55.00K | 62.96M |
Qiiwi Games AB Technical Analysis
Neutral
2.22
Price Trends
1.74
Negative
2.05
Negative
2.61
Negative
Market Momentum
-0.05
Negative
49.90
Neutral
44.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:QIIWI, the sentiment is Neutral. The current price of 2.22 is above the 20-day moving average (MA) of 1.58, above the 50-day MA of 1.74, and below the 200-day MA of 2.61, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 49.90 is Neutral, neither overbought nor oversold. The STOCH value of 44.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:QIIWI.
Qiiwi Games AB Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | kr32.40M | 13.91 | ― | ― | -18.60% | -118.88% | |
48 Neutral | kr55.89M | 5.93 | 27.44% | ― | -10.21% | -1.15% | |
43 Neutral | kr28.15M | -2.96 | ― | ― | ― | ― | |
41 Neutral | kr15.68M | -2.51 | -31.43% | ― | -34.32% | 70.25% | |
41 Neutral | kr124.50M | -3.85 | ― | ― | 32.83% | 13.34% |
* Communication Services Sector Average
SE:QIIWI
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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.