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Spineway SA
(ALSPW)
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Rating:47Neutral
Price Target:
€0.14
▲(4.62% Upside)
Action:Reiterated
Date:07/08/26
The score is held up by improving fundamentals and a relatively strong balance sheet with low leverage, but remains constrained by ongoing losses and limited free-cash-flow strength. Technical signals are weak (below major moving averages with negative MACD), and valuation is pressured by a negative P/E reflecting unprofitable operations.
Positive Factors
Revenue and margin recovery
Sustained revenue growth and a rebound in gross margin to ~26% indicate improving product adoption and pricing/mix dynamics. These trends support a durable pathway to operating leverage as procedure volumes and commercialization efforts continue, aiding profitability over the medium term.
Negative Factors
Ongoing net losses
Persistent negative net margins mean the business is not yet converting revenue growth into bottom-line profits. Continued losses risk depleting reserves or requiring external capital, and they limit the company's ability to deliver positive shareholder returns until profitability is achieved and sustained.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and margin recovery
Sustained revenue growth and a rebound in gross margin to ~26% indicate improving product adoption and pricing/mix dynamics. These trends support a durable pathway to operating leverage as procedure volumes and commercialization efforts continue, aiding profitability over the medium term.
Read all positive factors
Spineway SA (ALSPW) vs. iShares MSCI France ETF (EWQ)
Market Cap
€4.38M
Dividend YieldN/A
Average Volume (3M)186.05K
Price to Earnings (P/E)―
Beta (1Y)0.27
Revenue Growth14.51%
EPS Growth59.71%
CountryFR
Employees43
SectorHealthcare
Sector Strength45
IndustryMedical - Specialties
Share Statistics
EPS (TTM)N/A
Shares Outstanding35,544,390
10 Day Avg. Volume130,837
30 Day Avg. Volume186,048
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)0.23
Price to Sales (P/S)0.43
P/FCF Ratio0.00
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)N/A
Revenue Forecast (FY)N/A
Spineway SA Business Overview & Revenue Model
Company Description
Spineway SA designs, develops, and markets a range of surgical implants for spine in France. The company offers posterior fixation, including posterior osteosynthesis systems and minimal invasive posterior osteosynthesis systems; interbody fusion ...
How the Company Makes Money
Spineway primarily makes money by selling spinal implant systems and associated surgical instruments to healthcare providers and/or distributors, generating revenue from the commercialization of its spinal surgery product range (e.g., implants and...
Spineway SA Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
74
Positive
Cash Flow
42
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 12.43M | 11.95M | 10.52M | 7.43M | 4.29M |
| Gross Profit | 3.27M | 3.36M | 1.63M | 237.00K | -1.45M |
| EBITDA | -1.36M | -5.58M | -4.79M | -2.76M | -1.04M |
| Net Income | -2.24M | -3.86M | -6.51M | -3.14M | -1.58M |
Balance Sheet | |||||
| Total Assets | 29.46M | 30.41M | 26.31M | 27.70M | 25.57M |
| Cash, Cash Equivalents and Short-Term Investments | 3.50M | 4.52M | 1.80M | 5.50M | 13.89M |
| Total Debt | 1.53M | 1.82M | 2.60M | 1.43M | 2.40M |
| Total Liabilities | 6.40M | 6.17M | 7.26M | 5.69M | 4.69M |
| Stockholders Equity | 23.06M | 24.24M | 19.05M | 22.00M | 20.88M |
Cash Flow | |||||
| Free Cash Flow | 0.00 | -3.27M | -7.29M | -13.89M | -2.88M |
| Operating Cash Flow | 424.00K | -3.27M | -5.83M | -1.62M | -1.79M |
| Investing Cash Flow | -1.17M | -1.01M | -1.39M | -10.20M | -578.00K |
| Financing Cash Flow | -269.00K | 7.01M | 3.49M | 3.72M | 11.45M |
Spineway SA Technical Analysis
Negative
0.13
Price Trends
0.13
Negative
0.14
Negative
0.15
Negative
Market Momentum
>-0.01
Positive
41.52
Neutral
14.02
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALSPW, the sentiment is Negative. The current price of 0.13 is above the 20-day moving average (MA) of 0.13, below the 50-day MA of 0.13, and below the 200-day MA of 0.15, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 41.52 is Neutral, neither overbought nor oversold. The STOCH value of 14.02 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALSPW.
Spineway SA Peers Comparison
UnderperformOutperform
Sector (51)
FR:ALSPW
Spineway SA
0.12
>-0.01
-6.30%
FR:ALSAF
Safe Orthopaedics
0.64
-1.76
-73.33%
FR:CVX
Affluent Medical SA
5.78
4.29
287.92%
FR:ALIMP
Implanet SA
0.17
-0.12
-41.18%
Spineway SA Corporate Events
Spineway posts resilient H1 2026 sales and secures bond financing for global growth
Jul 30, 2026
Spineway reported first-half 2026 revenue of €5.7 million, up 3% year-on-year, with second-quarter sales jumping 29% to €3.5 million as supply conditions normalized and its commercial momentum strengthened. Despite a solid gross margin...
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.