Q-linea AB (SE:QLINEA)
:QLINEA
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Q-linea AB
(QLINEA)
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Rating:41Neutral
Price Target:
kr15.50
▼(-46.55% Downside)
Action:Reiterated
Date:05/16/26
The score is held down primarily by weak financial performance (large ongoing losses and significant cash burn versus a small, declining revenue base) and a clearly bearish technical trend (below key moving averages with very weak momentum). Valuation provides limited support due to a negative P/E and no dividend yield.
Positive Factors
Recurring razor-and-blades model
The instrument-plus-consumables model creates a durable revenue stream as installed instruments drive recurring test sales. Over months this supports predictable revenue scaling and margin improvement potential if instrument placements and test utilization increase, aligning incentives for customer retention.
Negative Factors
High cash burn
Very large negative operating and free cash flows create an ongoing funding requirement that pressures runway and forces external financing or dilution. Over a multi-month horizon this constrains investment flexibility and could delay commercialization or scaling if additional capital is not secured.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring razor-and-blades model
The instrument-plus-consumables model creates a durable revenue stream as installed instruments drive recurring test sales. Over months this supports predictable revenue scaling and margin improvement potential if instrument placements and test utilization increase, aligning incentives for customer retention.
Read all positive factors
Q-linea AB (QLINEA) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr314.69M
Dividend YieldN/A
Average Volume (3M)13.43K
Price to Earnings (P/E)―
Beta (1Y)2.57
Revenue Growth106.74%
EPS Growth89.96%
CountrySE
Employees97
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-20.75
Shares Outstanding18,949,081
10 Day Avg. Volume10,725
30 Day Avg. Volume13,430
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.49
Price to Sales (P/S)14.97
P/FCF Ratio-0.98
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)-5.51
Revenue Forecast (FY)kr76.80M
Q-linea AB Business Overview & Revenue Model
Company Description
Q-linea AB (publ) engages in the development of instruments and consumables for infection diagnostics in Sweden. It offers inventive systems for in vitro diagnostics systems for infectious diseases. The company's lead product candidate is ASTar, a...
How the Company Makes Money
Q-linea primarily generates revenue through a “razor-and-blades” model common in clinical diagnostics: (1) instrument/system sales or placements of its automated diagnostic platform to laboratories and hospitals, and (2) recurring sales of proprie...
Q-linea AB Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
55
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.44M | 11.10M | 2.36M | 4.44M | 12.79M | 9.34M |
| Gross Profit | -179.92M | -180.02M | -11.11M | 995.00K | -21.38M | -25.03M |
| EBITDA | -149.69M | -160.54M | -195.40M | -210.99M | -252.69M | -218.48M |
| Net Income | -170.83M | -182.49M | -216.87M | -229.37M | -275.77M | -233.18M |
Balance Sheet | ||||||
| Total Assets | 333.61M | 369.67M | 147.99M | 231.98M | 207.39M | 466.63M |
| Cash, Cash Equivalents and Short-Term Investments | 223.91M | 258.11M | 25.66M | 81.89M | 72.62M | 166.03M |
| Total Debt | 4.15M | 7.71M | 151.21M | 20.56M | 20.93M | 79.00K |
| Total Liabilities | 29.06M | 31.66M | 175.45M | 42.34M | 45.76M | 35.84M |
| Stockholders Equity | 304.55M | 338.00M | -27.46M | 189.64M | 161.63M | 430.79M |
Cash Flow | ||||||
| Free Cash Flow | -152.89M | -169.68M | -187.49M | -236.86M | -268.11M | -267.02M |
| Operating Cash Flow | -143.32M | -162.12M | -182.50M | -228.52M | -250.86M | -255.05M |
| Investing Cash Flow | -9.21M | -7.22M | -5.04M | -7.77M | 315.25M | -23.82M |
| Financing Cash Flow | 308.53M | 402.12M | 131.27M | 245.41M | -6.60M | 283.81M |
Q-linea AB Technical Analysis
Negative
29.00
Price Trends
20.29
Negative
22.85
Negative
27.49
Negative
Market Momentum
-1.09
Negative
41.30
Neutral
72.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:QLINEA, the sentiment is Negative. The current price of 29 is above the 20-day moving average (MA) of 17.16, above the 50-day MA of 20.29, and above the 200-day MA of 27.49, indicating a bearish trend. The MACD of -1.09 indicates Negative momentum. The RSI at 41.30 is Neutral, neither overbought nor oversold. The STOCH value of 72.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:QLINEA.
Q-linea AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | kr572.70M | -6.14 | -35.70% | ― | 175.00% | 81.46% | |
53 Neutral | kr3.36B | -6.48 | -49.96% | ― | -41.17% | -0.30% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | kr230.75M | -3.03 | -51.35% | ― | ― | 9.40% | |
44 Neutral | kr92.70M | -1.81 | -72.82% | ― | 33.12% | 64.71% | |
42 Neutral | kr26.98M | -1.17 | -186.13% | ― | ― | 57.42% | |
41 Neutral | kr314.69M | -3.18 | -108.15% | ― | 106.74% | 89.96% |
* Healthcare Sector Average
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Q-linea AB Corporate Events
Q-linea Builds Global Momentum on Expanded ASTar Panel and Leaner Cost Base
Apr 30, 2026
Q-linea reported first-quarter 2026 results marked by a 60% rise in consumables revenue to SEK 1.4 million, a narrower operating loss of SEK 35 million, and successful implementation of a restructuring program expected to deliver annual savings of...
Q-linea Calls 2026 AGM, Proposes No Dividend and New Incentive Plan
Apr 27, 2026
Q-linea AB has called its shareholders to an annual general meeting in Uppsala on 27 May 2026, where they will review the 2025 financial year, elect board members and auditors, and address governance matters including remuneration and committee st...
Q-linea’s 2025 Report Highlights Rapid Infection Diagnostics and ASTar Platform
Apr 24, 2026
Q-linea’s 2025 annual report outlines its mission to help preserve the efficacy of antibiotics by providing rapid diagnostic tools that support optimal treatment of infectious diseases. The company emphasizes its strategy of leveraging stron...
Q-linea wins FDA clearance for expanded ASTar sepsis testing menu
Apr 16, 2026
Q-linea has secured U.S. FDA 510(k) clearance for an expanded Gram-negative blood culture testing menu on its ASTar platform, significantly broadening the system’s clinical scope. The updated Version 2 panel now offers 215 bug–drug com...
Q-linea Expands Middle East Presence With ASTar Deployments in Saudi Arabia
Apr 2, 2026
Q-linea has expanded its Middle East footprint by shipping two ASTar instruments to hospitals in Saudi Arabia, where local distributor AMICO will oversee installation and evaluations ahead of anticipated clinical use in 2026. These units build on ...
Q-linea Nomination Committee Proposes Stable Board and New Expertise Ahead of 2026 AGM
Mar 11, 2026
Q-linea AB’s nomination committee has proposed a largely unchanged board for the 2026 annual general meeting, with the addition of two new members, investment manager Öystein Engebretsen and Medistim CEO Kari Krogstad, while current dir...
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.