Azerion Group N.V (AZRN) AI Stock Analysis

Azerion Group N.V

(Amsterdam:AZRN)

Select Model

Rating:39Underperform

Price Target:EUR 0.57▼(-5.50% Downside)

Action:downgraded

Date:09/24/26

The overall stock score is driven mainly by weak financial performance, as negative equity, high leverage, and a return to net losses create significant balance sheet and earnings risk despite some recovery in cash generation, and is further pressured by a clearly bearish technical setup with the price below all key moving averages and momentum indicators at very low levels; valuation provides only modest support because the negative P/E and lack of dividend mean investors are effectively betting on a successful turnaround that is not yet demonstrated.

Positive Factors

Improving cash generationPositive operating and free cash flow represent a meaningful improvement from negative free cash flow in 2024–2025. If sustained, this can support debt servicing and internal investment, although the business still needs a longer track record to demonstrate that the improvement is durable.

Negative Factors

Persistent net lossesOngoing net losses and declining revenue show that Azerion has not yet converted its platform scale into consistent bottom-line profitability. Continued weak operating leverage can restrict reinvestment, reduce financial resilience and make future earnings dependent on a sustained recovery.

Azerion Group N.V (AZRN) vs. iShares MSCI Netherlands ETF (EWN)

Market Cap: EUR 73.38M
Dividend Yield: ―
Average Volume (3M): 35.88K
Price to Earnings (P/E): -2.2
Beta (1Y): 0.28
Revenue Growth: -3.97%
EPS Growth: -20.20%
Country: Netherlands
Employees: 912
Sector: General
Sector Strength: 55
Industry: Electronic Gaming & Multimedia

Azerion Group N.V Business Overview & Revenue Model

Company Description

Azerion Group N.V. oversees a worldwide digital platform dedicated to entertainment and media. This unified platform furnishes technological tools designed to streamline the buying and selling of online advertising space, catering to advertisers, pub...

How the Company Makes Money

Azerion primarily makes money through digital advertising and related platform services. Its core revenue model is to monetize audience attention across digital channels by selling advertising placements (e.g., display, video, and other programmatic...

Azerion Group N.V Financial Statement Overview

Summary

Overall financial performance is weak, with shareholders’ equity back in negative territory, rising leverage, and a return to net losses alongside compressed margins, despite some improvement in operating and free cash flow generation that indicates a fragile turnaround with elevated balance sheet risk.

Income Statement

34Negative

Balance Sheet

22Negative

Cash Flow

56Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Mar 2022
Income Statement
Total Revenue	522.00M	540.60M	551.20M	515.00M	452.60M	308.10M
Gross Profit	128.00M	146.00M	173.80M	182.70M	166.30M	120.90M
EBITDA	41.50M	50.80M	17.80M	118.20M	-79.50M	33.40M
Net Income	-34.00M	-34.60M	-57.90M	23.70M	-134.30M	-19.60M
Balance Sheet
Total Assets	473.60M	581.90M	679.10M	652.00M	638.50M	382.48M
Cash, Cash Equivalents and Short-Term Investments	32.60M	58.00M	90.60M	40.30M	50.90M	1.45M
Total Debt	260.50M	230.40M	293.60M	184.60M	228.60M	224.80M
Total Liabilities	483.80M	558.30M	621.90M	542.40M	542.30M	404.69M
Stockholders Equity	-17.60M	14.70M	50.40M	104.30M	93.80M	-22.20M
Cash Flow
Free Cash Flow	19.80M	-9.80M	-13.00M	25.10M	23.20M	5.90M
Operating Cash Flow	39.80M	11.50M	7.80M	49.90M	44.90M	24.00M
Investing Cash Flow	27.70M	13.70M	-36.80M	-5.30M	-75.80M	-83.10M
Financing Cash Flow	-100.40M	-70.50M	80.10M	-55.40M	47.40M	84.00M

Azerion Group N.V Technical Analysis

Technical Analysis SentimentNegative

Last Price0.60

Price Trends

50DMA0.82Negative

100DMA0.92Negative

200DMA0.92Negative

Market Momentum

MACD-0.06Negative

RSI17.85Positive

STOCH33.56Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:AZRN, the sentiment is Negative. The current price of 0.60 is below the 20-day moving average (MA) of 0.68, below the 50-day MA of 0.82, and below the 200-day MA of 0.92, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 17.85 is Positive, neither overbought nor oversold. The STOCH value of 33.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NL:AZRN.

Azerion Group N.V Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

NL:AZRN against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NL:HAVAS	76Outperform	EUR 1.74B	8.66	―	4.57%	0.55%	14.52%
NL:BNJ	59Neutral	EUR 3.37B	16.12	―	16.34%	6.76%	-1.76%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
NL:AZRN	39Underperform	EUR 72.17M	-2.21	―	―	-3.97%	-20.20%

* General Sector Average

Performance Comparison

NL:AZRN and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
NL:AZRN	Azerion Group N.V	0.60	-0.67	-52.76%
NL:BNJ	Banijay Group N.V. Class A	7.86	-0.97	-10.96%
NL:HAVAS	Havas NV	17.50	3.16	22.00%
NL:CABLE	Global InterConnection Group Limited	278.00	6.00	2.21%

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.

Date of analysis: Sep 24, 2026

Azerion Group N.V AI Stock Analysis