Scout Gaming Group AB (SCOUT) AI Stock Analysis

• Market Cap: kr33.22M
• Dividend Yield: N/A
• Average Volume (3M): 66.16K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.27
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 43
• Sector: Services
• Sector Strength: N/A
• Industry: Electronic Gaming & Multimedia
• EPS (TTM): -0.02
• Shares Outstanding: 225,200,470
• 10 Day Avg. Volume: 47,718
• 30 Day Avg. Volume: 66,157
• PEG Ratio: 0.08
• Price to Book (P/B): 1.73
• Price to Sales (P/S): 1.13
• P/FCF Ratio: -3.98
• 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: kr0.14 ▲(10.00% Upside)

The score is driven primarily by weak financial quality (losses, negative margins, and ongoing cash burn) and a clearly bearish technical setup (price below key moving averages with negative MACD). Zero debt is a positive offset, but valuation is hard to support while earnings remain negative and no dividend is present.

Positive Factors

Zero debt / low financial leverage

Having zero reported debt materially lowers financial risk and interest burden, giving the business flexibility to invest in product, weather revenue volatility, or raise capital on better terms. This structural strength supports longer-term optionality and operational resilience.

B2B platform revenue model with recurring and performance streams

A B2B fantasy-sports platform with licensing/recurring fees plus revenue-share aligns incentives with operator partners and creates stickiness through integrations and custom services. These contract structures can generate durable, scaling revenue as operator volumes grow.

Strong revenue rebound in 2024

An ~80% revenue rebound signals improving product-market fit and commercial traction with operators. If sustained, this growth can improve operating leverage, spread fixed platform costs over larger volumes, and form the foundation for future margin recovery.

Negative Factors

Negative gross margin and loss-making operations

A negative gross margin implies the core offering is unprofitable at current pricing or cost structure, undermining scalability. Persistent losses mean growth requires external funding or rapid unit-economics improvement to become self-sustaining over the medium term.

Consistent negative operating and free cash flow

Ongoing cash burn reduces runway and forces reliance on external financing. Negative operating and free cash flow constrain the company's ability to invest in product and sales autonomously, increasing dilution risk and reducing strategic flexibility over the coming months.

Material decline in equity / weakened capital base

A steep fall in shareholders' equity reflects accumulated losses and shrinks the capital cushion against shocks. This erosion raises solvency and financing concerns, limiting the company's ability to absorb further setbacks or fund growth without external capital.

Scout Gaming Group AB Business Overview & Revenue Model

Company Description

Scout Gaming Group AB (publ) provides B2B daily fantasy sports and pool betting solutions in Sweden, Norway, Ukraine, and Malta. It offers a network based fantasy sports solution with support for various sports and leagues through an in-house StatCenter, which provides real-time statistics, including data and pricing of players, odds setting, and squad maintenance to players, as well as Betflex, a solution that analyses player's behavior. The company was founded in 2013 and is based in Solna, Sweden.

How the Company Makes Money

Scout Gaming Group AB Financial Statement Overview

Summary

Mixed fundamentals: revenue rebounded strongly in 2024, but profitability remains weak with negative gross margin and ongoing losses. The balance sheet is helped by zero debt, yet equity has materially declined, and operating/free cash flow remains consistently negative despite improvement in 2024.

Income Statement

Revenue has rebounded strongly in 2024 (up ~80% YoY) after prior volatility, but profitability remains weak. 2024 gross margin turned negative (~-23%) and the company is still loss-making with negative operating and net margins, though losses narrowed materially versus 2022–2023. Overall, the trajectory is improving, but the business has not yet demonstrated sustainable profitability.

Balance Sheet

Leverage is a clear strength: total debt is 0 in 2023–2024 and debt-to-equity is 0, which reduces financial risk. However, equity has declined from 62.2m (2022) to 26.1m (2024), reflecting continued losses and pressuring the capital base; returns on equity are deeply negative despite improvement in 2024.

Cash Flow

Cash generation is the main concern. Operating cash flow and free cash flow are consistently negative across 2020–2024, indicating ongoing cash burn to support operations. While the cash outflow improved significantly in 2024 versus 2022–2023, free cash flow growth is sharply negative in 2024 and cash flows remain insufficient to signal self-funding operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	49.59M	39.90M	31.03M	25.57M	31.79M	25.82M
Gross Profit	49.59M	-9.34M	5.23M	-72.53M	51.81M	41.35M
EBITDA	-2.35M	-4.74M	-25.36M	-64.19M	-80.75M	-52.48M
Net Income	-4.22M	-6.36M	-41.11M	-64.44M	-82.61M	-54.59M
Balance Sheet
Total Assets	39.02M	49.42M	53.76M	86.51M	94.60M	105.82M
Cash, Cash Equivalents and Short-Term Investments	22.59M	35.99M	47.33M	74.96M	49.53M	73.34M
Total Debt	0.00	0.00	0.00	2.90M	7.92M	6.03M
Total Liabilities	15.56M	23.32M	21.19M	24.32M	24.04M	15.86M
Stockholders Equity	23.46M	26.10M	32.57M	62.20M	41.01M	89.96M
Cash Flow
Free Cash Flow	-15.76M	-11.31M	-25.35M	-78.17M	-77.54M	-56.30M
Operating Cash Flow	-15.76M	-11.31M	-25.35M	-78.09M	-57.36M	-40.60M
Investing Cash Flow	0.00	0.00	0.00	-122.00K	-269.00K	-15.70M
Financing Cash Flow	0.00	0.00	-1.54M	97.68M	51.74M	110.49M

Scout Gaming Group AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NITRO	56 Neutral	kr36.04M	-19.78	―	―	-18.60%	-118.88%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SCOUT	43 Neutral	kr33.22M	-3.78	―	―	―	―