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Theraclion SA
(ALTHE)
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Rating:51Neutral
Price Target:
€0.67
▲(3.91% Upside)
Action:Reiterated
Date:09/26/26
The score is held back mainly by very weak financial fundamentals (persistent losses, ongoing cash burn, and recent negative equity), partially offset by supportive technical momentum (price above key moving averages with positive MACD). Valuation is difficult to assess due to the negative P/E driven by unprofitability and no dividend yield support.
Positive Factors
Non-invasive therapeutic platform
The non-invasive, image-guided ultrasound platform gives Theraclion a defined medical-device proposition that can address treatment needs without surgery. This technology focus may support durable differentiation as the company develops and commercializes systems for targeted benign conditions.
Negative Factors
Persistent unprofitability
Deeply negative gross, operating, and net results across the reported periods show that the current cost base is not supported by the company’s revenue run-rate. Without a sustained improvement in revenue or costs, losses can continue to consume capital and constrain strategic investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Non-invasive therapeutic platform
The non-invasive, image-guided ultrasound platform gives Theraclion a defined medical-device proposition that can address treatment needs without surgery. This technology focus may support durable differentiation as the company develops and commercializes systems for targeted benign conditions.
Read all positive factors
Theraclion SA (ALTHE) vs. iShares MSCI France ETF (EWQ)
Market Cap
€48.84M
Dividend YieldN/A
Average Volume (3M)103.08K
Price to Earnings (P/E)―
Beta (1Y)1.27
Revenue Growth-16.98%
EPS Growth20.31%
CountryFR
Employees36
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.10
Shares Outstanding73,811,100
10 Day Avg. Volume80,982
30 Day Avg. Volume103,082
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)-13.53
Price to Sales (P/S)29.53
P/FCF Ratio-4.89
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
Theraclion SA Business Overview & Revenue Model
Company Description
Theraclion SA, established in 2004 and based in Malakoff, France, specializes in developing innovative echotherapy medical solutions. These treatments harness high-intensity focused ultrasound (HIFU) technology. Their offerings include SONOVEIN, a...
How the Company Makes Money
Theraclion’s revenues are primarily generated from the sale and/or placement of its therapeutic ultrasound systems to healthcare providers (e.g., hospitals, clinics, and specialty practices), along with recurring revenue from related disposables/c...
Theraclion SA Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.01M | 1.19M | 830.00K | 1.82M | 1.24M | 1.48M |
| Gross Profit | -7.62M | -6.21M | -7.18M | -1.08M | -3.05M | -4.54M |
| EBITDA | -7.26M | -5.99M | -5.92M | -4.49M | -5.74M | -4.40M |
| Net Income | -6.76M | -5.69M | -5.76M | -3.68M | -4.96M | -3.76M |
Balance Sheet | ||||||
| Total Assets | 14.78M | 12.51M | 11.47M | 18.66M | 13.94M | 11.83M |
| Cash, Cash Equivalents and Short-Term Investments | 5.22M | 3.38M | 4.17M | 7.82M | 2.52M | 2.49M |
| Total Debt | 4.95M | 5.09M | 1.30M | 1.95M | 2.51M | 2.39M |
| Total Liabilities | 15.18M | 15.10M | 11.47M | 13.01M | 13.40M | 13.10M |
| Stockholders Equity | -395.00K | -2.59M | -114.00 | 5.65M | 544.87K | -1.27M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -7.16M | -3.01M | -2.60M | -5.59M | -4.03M |
| Operating Cash Flow | 0.00 | -7.16M | -2.91M | -2.48M | -5.27M | -3.88M |
| Investing Cash Flow | 0.00 | -414.00K | -188.00K | -213.52K | -739.63K | -524.46K |
| Financing Cash Flow | 0.00 | 6.78M | -545.00K | 7.99M | 6.03M | 4.56M |
Theraclion SA Technical Analysis
Neutral
0.64
Price Trends
0.66
Positive
0.66
Positive
0.61
Positive
Market Momentum
<0.01
Positive
45.98
Neutral
23.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALTHE, the sentiment is Neutral. The current price of 0.64 is below the 20-day moving average (MA) of 0.69, below the 50-day MA of 0.66, and above the 200-day MA of 0.61, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 45.98 is Neutral, neither overbought nor oversold. The STOCH value of 23.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FR:ALTHE.
Theraclion SA Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | €48.84M | -6.40 | 453.10% | ― | -16.98% | 20.31% | |
50 Neutral | €32.66M | -0.84 | -96.46% | ― | 10.36% | 29.41% | |
46 Neutral | €23.21M | -5.38 | -22.03% | ― | 37.28% | 7.83% | |
45 Neutral | €24.25M | 6.12 | -58.93% | ― | 7.43% | ― | |
43 Neutral | €158.30M | -2.81 | 90.10% | ― | 1.79% | 15.89% |
* Healthcare Sector Average
FR:ALTHE
Theraclion SA
0.66
>-0.01
-1.19%
FR:ALMKT
MAUNA KEA TECHNOLOGIES
0.12
0.04
47.62%
FR:ALNOV
Novacyt
0.45
-0.01
-3.02%
FR:ALDMS
Diagnostic Medical Systems
0.92
-0.45
-32.70%
FR:ALIKO
Ikonisys SA
1.47
-0.03
-2.00%
FR:ALMDT
Median Technologies
3.23
-0.08
-2.56%
Theraclion SA Corporate Events
Theraclion deepens losses as it ramps up for Sonovein’s global push and awaits FDA ruling
Sep 16, 2026
Theraclion reported a first-half 2026 operating loss of €3.9 million on revenue of €663,000, as higher regulatory, commercial and industrial costs weighed on earnings while the company prepared for the possible U.S. launch of Sonovein....
Theraclion Updates Share Capital and Voting Rights Structure
Aug 20, 2026
Theraclion has disclosed its latest share capital and voting rights figures, reporting 73,543,457 shares outstanding as of July 31, 2026. The company lists a theoretical total of 88,767,504 voting rights and an actual total of 86,957,843 voting ri...
Theraclion accelerates Sonovein rollout as China and U.S. strategies take shape
Jul 23, 2026
Theraclion reported that commercial momentum for its Sonovein varicose‑vein therapy platform is now visible across its sales cycle, signing seven new pay‑per‑use contracts in 2026 and installing four systems by mid‑year, ma...
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.