Zaplox AB (ZAPLOX) AI Stock Analysis

• Market Cap: kr34.58M
• Dividend Yield: N/A
• Average Volume (3M): 33.37K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.02
• Revenue Growth: 9.85%
• EPS Growth: 50.72%
• Country: SE
• Employees: 14
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): >-0.01
• Shares Outstanding: 36,020,493
• 10 Day Avg. Volume: 13,632
• 30 Day Avg. Volume: 33,367
• PEG Ratio: 0.03
• Price to Book (P/B): 2.97
• Price to Sales (P/S): 1.65
• P/FCF Ratio: -1.80
• 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: 47 Neutral
• Price Target: kr0.99 ▲(15.88% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is held back primarily by weak financial quality—negative gross profit, large losses, and sustained cash burn—despite strong revenue growth and some improvement in cash outflows. Technicals are broadly neutral with only modest stabilization signals, and valuation is constrained by a negative P/E and no provided dividend yield.

Positive Factors

Strong revenue growth

Sustained top-line expansion over multiple years shows improving commercial traction and product-market fit in the hospitality vertical. Durable revenue growth increases scale opportunity for recurring SaaS sales and gives time for the company to work toward positive unit economics if managed prudently.

Debt-free balance sheet

No debt reduces refinancing and interest risk, giving management flexibility to invest or raise equity without immediate leverage pressure. Positive equity and improved equity in 2024 support near-term resilience and lower bankruptcy/default risk during a multi-quarter transition to profitability.

Recurring SaaS model and integrations

A subscription-based product aligned with hotel property systems creates recurring cash flow potential and switching costs via integrations. Platform integrations and ecosystem partnerships are structural advantages that support upsell, retention, and scalable revenue per customer over time.

Negative Factors

Negative gross profit and heavy losses

Persistently negative gross margins and very large net losses indicate the core business is not yet profitable at scale. Without meaningful margin improvement or cost structure changes, losses can persist and prevent generation of sustainable operating profits even as revenue grows.

Deep operating cash burn

Continued negative operating and free cash flows mean the company depends on external financing for working capital and growth. Persistent cash burn limits the firm’s ability to self-fund product development, sales expansion, or absorb shocks without dilutive or costly capital raises.

Very negative returns on equity; capital erosion risk

Sustained negative ROE signals that equity is being consumed by losses; over multiple quarters this erodes the capital base, increasing the likelihood of future dilution or constrained strategic options. That structural risk can impair long-term competitiveness if unreversed.

Zaplox AB Business Overview & Revenue Model

Company Description

Zaplox AB is a technology company specializing in providing innovative mobile solutions for the hospitality industry. The company offers a comprehensive digital platform that enables hotels and resorts to enhance their guest experience through mobile check-in, digital key access, and other guest service solutions. Zaplox's core products are designed to integrate seamlessly with existing hotel management systems, offering a modern and convenient experience for both guests and hotel operators.

How the Company Makes Money

Zaplox AB generates revenue primarily through licensing and subscription fees for its digital platforms and services. The company's revenue model is based on Software-as-a-Service (SaaS), where hotels and resorts pay ongoing fees to access and utilize Zaplox's mobile solutions. Additionally, Zaplox may earn revenue from integration services, customization, and support fees. Partnerships with hotel chains and technology providers can also contribute to its earnings by expanding its market reach and facilitating the adoption of its solutions.

Zaplox AB Financial Statement Overview

Summary

Revenue growth is strong (2022–2024: 5.2m → 15.3m → 18.8m), but fundamentals remain weak with negative gross profit in 2024, very large net losses (roughly -92% net margin), and deeply negative operating/free cash flow despite some improvement. A debt-free balance sheet and positive equity support near-term resilience, but ongoing cash burn implies continued funding risk.

Income Statement

Revenue has grown steadily (2022–2024: 5.2m → 15.3m → 18.8m), showing improving commercial traction. However, profitability remains very weak: gross profit is still negative in 2024 and net losses are large (2024 net margin roughly -92%), even though losses have narrowed versus 2022–2023. Overall, the trajectory is improving, but the business has not yet demonstrated a sustainable profit model.

Balance Sheet

The balance sheet is conservatively financed with no debt in 2022–2024 and positive equity in all years shown, reducing refinancing risk. Equity increased in 2024 versus 2023, supporting near-term stability. The key weakness is persistent heavy losses, reflected in very negative returns on equity, which can erode the capital base over time if not reversed.

Cash Flow

Cash generation is the main pressure point: operating cash flow and free cash flow are deeply negative across all periods, indicating ongoing cash burn. There is improvement in 2024 versus 2023 (operating cash outflow narrowed from about -22.2m to -17.2m), but cash flow still does not support self-funding operations. The business likely remains dependent on external funding unless profitability and cash conversion improve meaningfully.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	19.73M	18.82M	15.27M	5.18M	2.99M	3.70M
Gross Profit	-4.52M	-3.49M	-5.90M	-17.10M	3.74M	6.51M
EBITDA	-13.86M	-15.16M	-20.46M	-32.66M	-38.32M	-26.65M
Net Income	-15.94M	-17.25M	-20.52M	-32.79M	-38.61M	-26.82M
Balance Sheet
Total Assets	11.35M	19.31M	17.43M	20.21M	32.14M	20.54M
Cash, Cash Equivalents and Short-Term Investments	3.47M	10.72M	6.78M	11.37M	21.76M	5.32M
Total Debt	0.00	0.00	0.00	0.00	1.07M	2.14M
Total Liabilities	9.44M	8.88M	10.93M	10.84M	10.68M	9.97M
Stockholders Equity	1.91M	10.43M	6.50M	9.37M	21.46M	10.57M
Cash Flow
Free Cash Flow	-15.70M	-17.25M	-22.25M	-31.02M	-32.22M	-24.52M
Operating Cash Flow	-15.70M	-17.25M	-22.21M	-31.02M	-31.44M	-21.62M
Investing Cash Flow	0.00	0.00	-32.00K	0.00	-781.00K	-2.90M
Financing Cash Flow	7.54M	21.01M	17.74M	20.50M	48.59M	16.32M

Zaplox AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.85
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ZAPLOX, the sentiment is Positive. The current price of 0.85 is below the 20-day moving average (MA) of 0.96, below the 50-day MA of 0.94, and below the 200-day MA of 0.89, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 50.08 is Neutral, neither overbought nor oversold. The STOCH value of 42.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ZAPLOX.

Zaplox 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%
LOYAL	52 Neutral	kr35.34M	―	―	―	-4.44%	-14.29%
FLOWS	52 Neutral	kr58.38M	24.78	―	―	―	―
COMPDM	48 Neutral	kr34.07M	-2.02	―	―	50.38%	10.68%
ZAPLOX	47 Neutral	kr34.58M	-91.47	-205.97%	―	9.85%	50.72%
DIVIO.B	43 Neutral	kr40.75M	-4.59	―	―	―	―
SPOTR	39 Underperform	kr10.26M	-1,435.97	-177.14%	―	48.57%	-22.35%