Q-linea AB (SE:QLINEA)
:QLINEA
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Q-linea AB
(QLINEA)
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Rating:42Neutral
Price Target:
kr21.50
▼(-25.86% Downside)
Action:ReiteratedDate:02/07/26
The score is primarily weighed down by weak financial performance: persistent large losses, negative gross profit, and heavy ongoing cash burn despite the 2025 revenue rebound. Technicals add further pressure due to a negative MACD and a long-term downtrend versus the 200DMA, while valuation is constrained by a negative P/E and no dividend.
Positive Factors
Recurring consumables revenue model
A platform-plus-consumables model creates durable, recurring revenue once instruments are placed. High per-test consumable demand aligns incentives between instrument adoption and long-term volume, supporting predictable revenue growth and stronger lifetime customer value if clinical adoption and utilization scale.
Negative Factors
Heavy cash burn / negative cash generation
Consistent and sizable negative operating and free cash flow indicate the business cannot self-fund growth today. Persistent cash burn raises the likelihood of future equity or debt financing, which can dilute shareholders or restrict strategic choices, and constrains investment in commercial scale-up.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables revenue model
A platform-plus-consumables model creates durable, recurring revenue once instruments are placed. High per-test consumable demand aligns incentives between instrument adoption and long-term volume, supporting predictable revenue growth and stronger lifetime customer value if clinical adoption and utilization scale.
Read all positive factors
Q-linea AB (QLINEA) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr445.87M
Dividend YieldN/A
Average Volume (3M)13.43K
Price to Earnings (P/E)―
Beta (1Y)3.01
Revenue Growth270.64%
EPS Growth62.29%
CountrySE
Employees97
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-3.73
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)kr107.00M
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 makes money by selling and supporting its diagnostic platform and the recurring consumables required to run tests on it. Its revenue model typically comprises: (1) Instrument/system revenue: one-time sales (or potentially placements under ...
Q-linea AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
47
Neutral
Cash Flow
16
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.10M | 2.36M | 4.44M | 12.79M | 9.34M |
| Gross Profit | -180.02M | -11.11M | 995.00K | -21.38M | -25.03M |
| EBITDA | -160.54M | -195.40M | -210.99M | -252.69M | -218.48M |
| Net Income | -182.49M | -216.87M | -229.37M | -275.77M | -233.18M |
Balance Sheet | |||||
| Total Assets | 369.67M | 147.99M | 231.98M | 207.39M | 466.63M |
| Cash, Cash Equivalents and Short-Term Investments | 258.11M | 25.66M | 81.89M | 72.62M | 166.03M |
| Total Debt | 7.71M | 151.21M | 20.56M | 20.93M | 79.00K |
| Total Liabilities | 31.66M | 175.45M | 42.34M | 45.76M | 35.84M |
| Stockholders Equity | 338.00M | -27.46M | 189.64M | 161.63M | 430.79M |
Cash Flow | |||||
| Free Cash Flow | -169.68M | -187.49M | -236.86M | -268.11M | -267.02M |
| Operating Cash Flow | -162.12M | -182.50M | -228.52M | -250.86M | -255.05M |
| Investing Cash Flow | -7.22M | -5.04M | -7.77M | 315.25M | -23.82M |
| Financing Cash Flow | 402.12M | 131.27M | 245.41M | -6.60M | 283.81M |
Q-linea AB Technical Analysis
Positive
29.00
Price Trends
24.04
Negative
24.57
Negative
33.15
Negative
Market Momentum
-0.26
Negative
55.61
Neutral
61.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:QLINEA, the sentiment is Positive. The current price of 29 is above the 20-day moving average (MA) of 22.79, above the 50-day MA of 24.04, and below the 200-day MA of 33.15, indicating a neutral trend. The MACD of -0.26 indicates Negative momentum. The RSI at 55.61 is Neutral, neither overbought nor oversold. The STOCH value of 61.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | kr539.92M | -1.69 | -35.70% | ― | -18.46% | 4.90% | |
50 Neutral | kr2.98B | -5.68 | -49.96% | ― | -91.85% | -6.65% | |
49 Neutral | kr191.15M | -2.92 | -51.35% | ― | ― | -34.02% | |
45 Neutral | kr104.83M | -1.81 | -72.82% | ― | 40.91% | 57.92% | |
42 Neutral | kr445.87M | -0.91 | -108.15% | ― | 270.64% | 62.29% | |
42 Neutral | kr27.83M | -0.24 | -186.13% | ― | ― | 0.30% |
* Healthcare Sector Average
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Q-linea AB Corporate Events
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...
Q-linea Boosts Capital and Global Footprint as ASTar Rollout Accelerates
Feb 4, 2026
Q-linea reported full-year 2025 net sales of SEK 11.1 million, up from SEK 2.4 million a year earlier, while narrowing its operating loss to SEK 176.7 million and strengthening its balance sheet with a nearly fully subscribed rights issue that rai...
Q-linea Wins ASTar Contract with Major U.S. Hospital System
Jan 19, 2026
Q-linea AB has signed a contract for the adoption of its ASTar® rapid antibiotic susceptibility testing system by a large independent health system in the southeastern United States, specializing in cancer and pediatric care, following an eva...
Q-linea Reshapes US Commercial Leadership to Drive ASTar® Adoption
Jan 5, 2026
Q-linea has announced a reshaping of its US commercial leadership, with VP US Commercial Operations Jim Kathrein set to step down and support a transition during the first quarter of 2026, while Ethan Suttles, currently US Director of Strategic Ac...
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.