SciBase Holding AB (publ)

SciBase Holding AB (publ) has a strong liquidity position, with cash and equivalents amounting to 43.27 million SEK, representing 58.6% of total assets. The company has no long-term debt, and its debt-to-equity ratio is 0.0, indicating a conservative capital structure. The current ratio of 3.71 suggests the company has sufficient short-term assets to cover its liabilities.

The company's profitability metrics are negative, with a return on equity of -28.45% and a return on assets of -20.42%. These figures indicate that SciBase is currently generating losses relative to its equity and asset base. The operating income is -14.70 million SEK, and the net income is -15.05 million SEK, reflecting a challenging financial performance.

SciBase's revenue is concentrated in a single business segment, as disclosed in its financial statements. There is no geographic diversification data available in the provided information, but the company's operations are primarily based in Sweden. The lack of segment and geographic diversification could pose concentration risks.

Looking ahead, SciBase is expected to face continued financial pressure. Analysts estimate a mean revenue of 70 million SEK for the current fiscal year, compared to the last actual revenue of 40.46 million SEK. The mean EBIT estimate is -79 million SEK, indicating a significant operating loss. The company's free cash flow is negative at -14.39 million SEK, and capital expenditures are minimal at -127,000 SEK.

The risk assessment for SciBase indicates low liquidity and dilution risks. There are no immediate filing-based liquidity or dilution flags. The company's dilution potential is low, and no significant adjustments have been applied to its valuation metrics. The absence of long-term debt and the high cash reserves contribute to the low liquidity risk.

Recent events and filings do not indicate any major changes in SciBase's business strategy or financial position. The company's ESG score, particularly the social pillar, is 25.77 out of 100, suggesting room for improvement in social responsibility initiatives. Analysts have provided a uniform price target of 0.50 SEK, indicating a consensus on the stock's valuation.

Revenue grew 36.2% year-over-year to SEK 40.5 million in fiscal 2026, demonstrating strong top-line expansion momentum.

The company achieved a 36.3% revenue CAGR over four years, indicating consistent and rapid growth in its core business operations.

Cash conversion ratio of 1.88 ranks as best-in-class within the Advanced Medical Equipment cohort of 205 peers.

Debt-to-equity ratio of 0.0 is above the cohort median of 0.06, reflecting a conservative capital structure with no leverage.

Dilution and liquidity risks are assessed as low, suggesting stable shareholder value and adequate market trading conditions.

Free cash flow declined 33.7% to a negative SEK 84.0 million, indicating worsening cash generation capabilities in fiscal 2026.

Operating margin of -2.21% places the company in the bottom quartile among 196 Advanced Medical Equipment peers.

Revenue kr 40.5M, +356,9% YoY.

• ▍Revenue kr 40.5M, +356,9% YoY

Revenue kr 12.5M, +45,1% YoY; Operating income −13,2% YoY.

• ▍Revenue kr 12.5M, +45,1% YoY
• ▍Operating income −13,2% YoY
• ▍Net income +35,5% YoY
• ▍Free cash flow +39,1% YoY
• ▍Net margin -113.3%

Revenue kr 10.3M, +23,0% YoY; Operating income −21,6% YoY.

• ▍Revenue kr 10.3M, +23,0% YoY
• ▍Operating income −21,6% YoY
• ▍Net income −6,1% YoY
• ▍Free cash flow −6,5% YoY
• ▍Net margin -182.1%

Revenue kr 8.8M, +32,4% YoY; Operating income −52,1% YoY.

• ▍Revenue kr 8.8M, +32,4% YoY
• ▍Operating income −52,1% YoY
• ▍Net income −76,7% YoY
• ▍Free cash flow −79,8% YoY
• ▍Net margin -302.5%

Revenue kr 8.9M; Operating income -kr 19.6M.

• ▍Revenue kr 8.9M
• ▍Operating income -kr 19.6M
• ▍Net margin -310.6%

Revenue kr 8.6M; Operating income -kr 23.6M.

• ▍Revenue kr 8.6M
• ▍Operating income -kr 23.6M
• ▍Net margin -254.9%

Revenue kr 8.4M; Operating income -kr 14.6M.

• ▍Revenue kr 8.4M
• ▍Operating income -kr 14.6M
• ▍Net margin -211.1%

Revenue kr 6.6M; Operating income -kr 14.7M.

• ▍Revenue kr 6.6M
• ▍Operating income -kr 14.7M
• ▍Net margin -226.6%

Revenue kr 40.5M, +36,2% YoY; Operating income −28,6% YoY.

• ▍Revenue kr 40.5M, +36,2% YoY
• ▍Operating income −28,6% YoY
• ▍Net income −32,8% YoY
• ▍Free cash flow −33,7% YoY
• ▍Net margin -215.2%

Revenue kr 29.7M, +27,8% YoY; Operating income −24,5% YoY.

• ▍Revenue kr 29.7M, +27,8% YoY
• ▍Operating income −24,5% YoY
• ▍Net income −18,0% YoY
• ▍Free cash flow −19,5% YoY
• ▍Net margin -220.8%

Revenue kr 23.2M, +29,9% YoY; Operating income −16,2% YoY.

• ▍Revenue kr 23.2M, +29,9% YoY
• ▍Operating income −16,2% YoY
• ▍Net income −28,8% YoY
• ▍Free cash flow −31,8% YoY
• ▍Net margin -239.1%

Revenue kr 17.9M, +52,5% YoY; Operating income −11,6% YoY.

• ▍Revenue kr 17.9M, +52,5% YoY
• ▍Operating income −11,6% YoY
• ▍Net income −3,3% YoY
• ▍Free cash flow −1,4% YoY
• ▍Net margin -241.3%