Acroud AB (ACROUD) AI Stock Analysis

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Acroud AB

(Nasdaq OMX AB:ACROUD)

Select Model

Rating:48Neutral

Price Target:SEK 0.10▲(9.20% Upside)

Action:reiterated

Date:10/11/26

The score is held back primarily by weak technicals (price below all key moving averages with negative MACD and very low RSI/Stoch). Financials are improving—strong TTM revenue growth, better operating results, and positive cash flow—but ongoing net losses and a volatile historical track record keep the financial performance score moderate. Valuation is also constrained by a negative P/E and no dividend yield data.

Positive Factors

Strong revenue growth and operating improvementThe sharp TTM revenue increase, combined with improved EBITDA and slightly positive EBIT, indicates meaningful operating progress and stronger commercial traction. If this improvement persists, greater scale could support better earnings conversion and provide a foundation for continued business investment.

Negative Factors

The company remains net loss-makingAcroud has not yet converted its operating improvement into bottom-line profitability, with a negative TTM net margin still weighing on earnings quality. Continued losses can constrain retained capital and make future performance more dependent on sustaining growth and improving cost absorption.

Acroud AB (ACROUD) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 111.93M
Dividend Yield: ―
Average Volume (3M): 452.20K
Price to Earnings (P/E): -3.8
Beta (1Y): -0.09
Revenue Growth: 17.97%
EPS Growth: 93.95%
Country: Sweden
Employees: 72
Sector: Consumer Cyclical
Sector Strength: 61
Industry: Gambling, Resorts & Casinos

Acroud AB Business Overview & Revenue Model

Company Description

Acroud AB (publ), established in 2003 and headquartered in Gzira, Malta, specializes in developing, owning, and managing comparison and news websites, primarily in Sweden. The company's operations are divided into two main segments: iGaming Affiliati...

How the Company Makes Money

Acroud primarily makes money through performance-based affiliate marketing in iGaming. Its main revenue stream is commissions paid by online gambling operators when users referred from Acroud’s digital properties perform specific actions—most commonl...

Acroud AB Financial Statement Overview

Summary

Financials show a turnaround in TTM: very strong revenue growth and improving operating profitability (EBIT slightly positive), with positive operating cash flow and free cash flow. Offsetting this, the company remains net loss-making (around -5% net margin), cash flow momentum is weaker (TTM FCF down sharply), and history shows significant earnings and balance-sheet volatility (including a prior period of negative equity).

Income Statement

44Neutral

Balance Sheet

62Positive

Cash Flow

55Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	48.88M	46.36M	38.59M	39.35M	30.91M	24.77M
Gross Profit	24.67M	46.36M	33.52M	39.36M	31.74M	25.89M
EBITDA	4.40M	1.13M	5.54M	-22.22M	-11.14M	5.05M
Net Income	-2.56M	-5.13M	-3.31M	-31.71M	-18.42M	718.00K
Balance Sheet
Total Assets	36.19M	37.06M	39.97M	50.01M	79.88M	76.24M
Cash, Cash Equivalents and Short-Term Investments	2.30M	1.57M	1.59M	3.15M	2.42M	1.76M
Total Debt	951.58K	12.36M	17.06M	17.95M	19.93M	19.70M
Total Liabilities	19.29M	20.00M	27.10M	32.63M	55.56M	34.29M
Stockholders Equity	16.90M	17.06M	-654.00K	2.75M	24.32M	41.95M
Cash Flow
Free Cash Flow	1.48M	-389.16K	3.63M	1.97M	3.11M	885.00K
Operating Cash Flow	1.61M	-361.65K	4.23M	4.24M	5.60M	3.28M
Investing Cash Flow	-176.07K	-1.14M	-2.05M	-1.28M	-3.24M	-5.26M
Financing Cash Flow	-1.81M	1.40M	-3.71M	-2.25M	-2.26M	-3.89M

Acroud AB Technical Analysis

Technical Analysis SentimentNegative

Last Price0.09

Price Trends

50DMA0.11Negative

100DMA0.13Negative

200DMA0.13Negative

Market Momentum

MACD-0.01Negative

RSI22.33Positive

STOCH42.50Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ACROUD, the sentiment is Negative. The current price of 0.09 is below the 20-day moving average (MA) of 0.09, below the 50-day MA of 0.11, and below the 200-day MA of 0.13, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 22.33 is Positive, neither overbought nor oversold. The STOCH value of 42.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ACROUD.

Acroud AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

SE:ACROUD against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:EVO	85Outperform	SEK 150.88B	13.85	―	―	-3.33%	-5.49%
SE:BETS.B	76Outperform	SEK 13.00B	10.53	12.81%	7.44%	-0.47%	-43.52%
SE:KAMBI	69Neutral	SEK 4.01B	33.07	7.14%	―	-10.22%	-33.31%
Sector *	61Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
SE:G2M	55Neutral	SEK 651.31M	11.12	-44.77%	―	-20.52%	―
SE:ACROUD	48Neutral	SEK 111.93M	-3.77	-15.07%	―	17.97%	93.95%
SE:GCOR	41Neutral	SEK 101.81M	-2.54	406.23%	―	57.81%	9.24%

* Consumer Cyclical Sector Average

Performance Comparison

SE:ACROUD and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:ACROUD	Acroud AB	0.09	-0.05	-37.86%
SE:EVO	Evolution Gaming	824.20	182.40	28.42%
SE:BETS.B	Betsson AB Class B	96.45	-42.95	-30.81%
SE:KAMBI	Kambi Group plc Class B	152.20	41.80	37.86%
SE:G2M	Gentoo Media Inc	4.83	-4.14	-46.10%
SE:GCOR	Gaming Corps AB	0.70	-0.44	-38.60%

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: Oct 11, 2026

Acroud AB AI Stock Analysis