Qiiwi Games AB (QIIWI) AI Stock Analysis

• Market Cap: kr18.96M
• Dividend Yield: N/A
• Average Volume (3M): 4.38K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.50
• Revenue Growth: -34.32%
• EPS Growth: 70.25%
• Country: SE
• Employees: 15
• Sector: Communication Services
• Sector Strength: 97
• Industry: Electronic Gaming & Multimedia
• EPS (TTM): -0.17
• Shares Outstanding: 9,249,492
• 10 Day Avg. Volume: 6,495
• 30 Day Avg. Volume: 4,380
• PEG Ratio: 0.09
• Price to Book (P/B): 1.90
• Price to Sales (P/S): 2.29
• P/FCF Ratio: -5.24
• 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: 42 Neutral
• Price Target: kr2.00 ▼(-9.91% Downside)

The score is primarily driven by weak financial performance (continued losses, contracting revenue, and ongoing cash burn despite improving burn rate) and bearish technicals (below key moving averages with negative MACD). Valuation is constrained by negative earnings and no dividend yield data to offset fundamentals.

Positive Factors

Debt-Free Balance Sheet

A debt-free balance sheet reduces financial risk and provides flexibility, allowing the company to navigate challenging periods without the burden of interest payments.

Strong Gross Margin

A strong gross margin indicates efficient production and pricing power, which can support profitability if operational efficiencies are improved.

Improved Cash Burn

Reduced cash burn suggests better cost management and operational adjustments, which could lead to sustainable cash flow improvements over time.

Negative Factors

Shrinking Revenue

Declining revenue reflects challenges in maintaining market share or product appeal, which could hinder long-term growth and profitability.

Negative Operating Profitability

Persistent negative operating profitability indicates that the company struggles to cover its operating costs, posing risks to long-term viability unless addressed.

Falling Equity Levels

Declining equity levels reduce the capital cushion, limiting financial resilience and the ability to invest in growth opportunities or weather downturns.

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 All3Media International to develop and publish a word game for the detective drama Midsomer Murders and a match-3 game for the reality television series Kitchen Nightmares. The company was founded in 2012 and is based in Alingsås, Sweden.

How the Company Makes Money

Qiiwi Games AB generates revenue primarily through a freemium model, where games are free to download and play, but offer in-app purchases for virtual goods, additional features, or to enhance the gaming experience. The company also earns money through in-game advertising by partnering with ad networks to display ads to users. These ads can be in the form of banners, interstitials, or rewarded videos, where players can choose to watch ads in exchange for in-game rewards. Additionally, Qiiwi Games may engage in strategic partnerships with other companies to expand its reach and enhance its offerings, although specific partnerships are not detailed.

Qiiwi Games AB Financial Statement Overview

Summary

Qiiwi Games AB faces significant financial challenges, with a shrinking revenue base and persistent losses impacting profitability and cash flow. While the balance sheet remains strong with no debt, the company struggles to generate positive cash flow and return on equity. Strategic improvements are necessary to enhance financial performance and long-term sustainability.

Income Statement

The income statement reveals a challenging period for Qiiwi Games AB, with declining revenue from 2020 to 2024 and negative profit margins. Gross profit margins remain high, but persistent net losses and negative EBIT and EBITDA margins indicate profitability issues. The revenue growth rate is negative, reflecting a shrinking revenue base over recent years.

Balance Sheet

Qiiwi Games AB maintains a strong balance sheet with no debt and a high equity ratio, providing financial stability. However, the company’s declining equity value and the absence of debt leverage may limit growth opportunities. The return on equity is negative due to consistent losses, which is a concern.

Cash Flow

Cash flow analysis shows negative operating and free cash flows over the years, indicating cash burn issues. Despite adequate cash reserves, the company's inability to generate positive cash flow from operations poses a risk to sustainability. The free cash flow to net income ratio is unfavorable, highlighting inefficiencies in cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	15.61M	19.86M	25.79M	34.38M	63.00M	103.81M
Gross Profit	12.07M	19.33M	26.36M	30.74M	55.81M	94.40M
EBITDA	-2.60M	-3.61M	-17.26M	-6.36M	-5.58M	4.25M
Net Income	-6.20M	-7.03M	-28.04M	-15.53M	-10.87M	3.24M
Balance Sheet
Total Assets	18.13M	26.11M	35.42M	61.16M	78.76M	33.57M
Cash, Cash Equivalents and Short-Term Investments	13.48M	17.92M	25.17M	44.99M	59.52M	15.22M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	1.25M	2.13M	4.52M	2.08M	4.54M	15.08M
Stockholders Equity	16.87M	23.98M	30.90M	59.07M	71.61M	18.49M
Cash Flow
Free Cash Flow	-5.50M	-8.68M	-19.83M	-18.81M	-18.08M	10.10M
Operating Cash Flow	-3.76M	-6.41M	-14.72M	-11.13M	-12.38M	10.18M
Investing Cash Flow	3.40M	1.00M	-20.11M	-7.74M	-6.19M	-82.00K
Financing Cash Flow	0.00	0.00	0.00	55.00K	62.96M	0.00

Qiiwi Games AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.22
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:QIIWI, the sentiment is Negative. The current price of 2.22 is below the 20-day moving average (MA) of 2.25, below the 50-day MA of 2.59, and below the 200-day MA of 2.71, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 32.26 is Neutral, neither overbought nor oversold. The STOCH value of 10.44 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:QIIWI.

Qiiwi Games 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%
FRAG	45 Neutral	kr70.43M	-0.52	-229.41%	―	-10.21%	-1.15%
NITRO	45 Neutral	kr33.90M	-18.60	―	―	-18.60%	-118.88%
SCOUT	43 Neutral	kr30.29M	-3.44	―	―	―	―
QIIWI	42 Neutral	kr18.96M	-3.06	-31.43%	―	-34.32%	70.25%
GCOR	41 Neutral	kr167.26M	-3.67	―	―	32.83%	13.34%