SpectrumOne AB (SPEONE) AI Stock Analysis

• Market Cap: kr61.00M
• Dividend Yield: N/A
• Average Volume (3M): 634.94K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.14
• Revenue Growth: -57.04%
• EPS Growth: -161.67%
• Country: SE
• Employees: 10
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -0.01
• Shares Outstanding: 374,220,920
• 10 Day Avg. Volume: 531,716
• 30 Day Avg. Volume: 634,936
• PEG Ratio: 0.01
• Price to Book (P/B): 0.55
• Price to Sales (P/S): 16.71
• P/FCF Ratio: 0.00
• 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: 46 Neutral
• Price Target: kr0.15 ▲(2.67% Upside)
• Action: Reiterated Date: 03/13/26
• Date: Action: Reiterated 03/13/26

The score is held down primarily by deteriorating financial performance—shrinking revenue, ongoing losses, and consistently negative operating cash flow—despite an improved balance sheet. Technicals are broadly neutral with limited long-term trend support, and valuation remains challenged due to negative earnings and no indicated dividend yield.

Positive Factors

Improved balance sheet

Zero reported debt in 2025 and sizable equity materially improve financial flexibility over the medium term. This reduces insolvency risk, preserves optionality to raise capital or fund restructuring, and gives management runway to execute strategic initiatives without immediate refinancing pressure.

Industry structural tailwinds

As a software-application company, SpectrumOne operates in a sector with durable secular demand for digital tools and SaaS adoption. Structural trends favor scalable, recurring-revenue models; if execution stabilizes, the market characteristics support long-term revenue re-acceleration and margin improvement potential.

Access to capital markets

Listing on Nasdaq OMX AB provides ongoing access to public equity and visibility with investors, enabling the company to raise capital to fund negative cash flow or strategic investments. That access is a durable advantage for financing turnarounds or scaling when operational performance improves.

Negative Factors

Shrinking revenue

Material and sustained top-line decline undermines competitive positioning and scale economics. Shrinking revenue reduces ability to cover fixed costs, compresses operating leverage, limits reinvestment capacity, and makes it harder to reverse losses without clear product-market recovery or new customer acquisition momentum.

Persistent negative operating cash flow

Chronic negative operating cash flow forces reliance on external financing, increasing dilution and refinancing risk. Long-term negative cash conversion constrains investment in product, sales, and scaling, and raises the probability that future operations will require equity raises or asset sales to sustain the business.

Low earnings quality and volatility

Earnings exhibit volatility and indicators of low quality—reported profits not supported by gross profit or cash flow. This pattern complicates forecasting, erodes stakeholder confidence, and suggests results may depend on one-time items or accounting effects rather than durable operational improvement.

SpectrumOne AB Business Overview & Revenue Model

Company Description

SpectrumOne AB (publ), a technology company, provides a suite of data management, analytics, and communications platform suites to append and analyze customer data in Sweden and internationally. The company was formerly known as TargetEveryone AB (publ) and changed its name to SpectrumOne AB (publ) in March 2020. SpectrumOne AB (publ) was incorporated in 1995 and is headquartered in Stockholm, Sweden.

SpectrumOne AB Financial Statement Overview

Summary

Despite a recently stronger balance sheet (zero reported debt in 2025 and sizable equity), operating performance is weak: revenue is shrinking materially and profitability/cash generation are persistently negative. The 2024 profit spike appears low-quality given negative gross profit and negative operating cash flow, increasing concern around sustainability.

Income Statement

Revenue has been highly volatile and is shrinking materially in the most recent year (2025 revenue down ~38% year over year, following declines in 2024 and 2023). Profitability is weak: the company posted large losses in 2025 (negative gross profit and a sizable net loss), and most years show negative operating results. While 2024 reported strong net income and very high margins, it coincided with negative gross profit and negative operating cash flow, suggesting earnings quality was not supported by the core business.

Balance Sheet

The balance sheet is a relative strength. Debt is reported at zero in 2025 and equity remains sizable versus total assets, indicating reduced leverage and improved financial flexibility. That said, the capital structure has been inconsistent historically (e.g., extremely high leverage in 2023 driven by very low equity), which highlights dilution/recapitalization risk and balance sheet instability across the cycle.

Cash Flow

Cash generation is consistently weak, with operating cash flow negative every year shown (including 2025), indicating the business is not self-funding. Free cash flow has also been negative in most periods (notably 2024–2023–2022–2021–2020), increasing reliance on external capital. In 2025, free cash flow is listed as zero, but with operating cash flow still meaningfully negative, cash conversion remains a key concern.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.50M	12.08M	23.34M	74.05M	60.80M
Gross Profit	-25.63M	-1.47M	602.00K	10.15M	13.71M
EBITDA	-10.17M	97.37M	-82.97M	-26.78M	-133.34M
Net Income	-32.46M	65.33M	-96.65M	-82.50M	-154.09M
Balance Sheet
Total Assets	146.53M	170.46M	62.03M	171.25M	297.00M
Cash, Cash Equivalents and Short-Term Investments	1.41M	5.97M	1.38M	3.55M	13.97M
Total Debt	0.00	22.94M	42.75M	30.00M	46.14M
Total Liabilities	40.81M	32.60M	61.41M	73.05M	77.81M
Stockholders Equity	105.72M	137.86M	619.00K	98.20M	219.19M
Cash Flow
Free Cash Flow	0.00	-35.70M	-10.52M	-18.22M	-32.45M
Operating Cash Flow	-18.64M	-35.70M	-10.52M	-14.35M	-32.45M
Investing Cash Flow	-6.70M	59.36M	6.99M	-10.68M	-208.34M
Financing Cash Flow	20.78M	-19.07M	1.38M	14.61M	194.61M

SpectrumOne AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SPEONE, the sentiment is Positive. The current price of 0.15 is below the 20-day moving average (MA) of 0.17, below the 50-day MA of 0.16, and below the 200-day MA of 0.19, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 54.47 is Neutral, neither overbought nor oversold. The STOCH value of 80.97 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SPEONE.

SpectrumOne AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
FLOWS	52 Neutral	kr54.46M	24.78	―	―	―	―
COMPDM	48 Neutral	kr36.83M	-2.02	―	―	50.38%	10.68%
CHARGE	47 Neutral	kr62.11M	-5.32	―	―	―	―
SPEONE	46 Neutral	kr61.00M	-1.80	-32.53%	―	-57.04%	-161.67%
ALBERT	46 Neutral	kr108.31M	-2.31	-76.48%	―	-8.60%	24.21%
MOBA	46 Neutral	kr16.90M	-0.07	―	―	―	―