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Anoto Group AB
(ANOT)
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Rating:47Neutral
Price Target:
kr0.17
▲(248.00% Upside)
Action:Reiterated
Date:09/07/26
The score is primarily constrained by weak financial performance (large losses, negative equity, and continued cash burn), which outweighs the recent improvement in revenue and gross margin. Technicals are supportive due to a strong uptrend, but overbought readings add near-term risk. Valuation is also pressured because the company is loss-making (negative P/E) with no dividend yield provided.
Positive Factors
Revenue rebound
The return to revenue growth indicates that demand or commercialization improved after several years of decline. If maintained, a larger revenue base can support operating leverage, strengthen customer and partner relevance, and provide a foundation for rebuilding the company’s financial profile.
Negative Factors
Deep ongoing losses
The scale of current losses shows that revenue and gross-margin improvements have not yet translated into a sustainable earnings model. Persistent negative EBIT and net income can consume resources, limit reinvestment capacity, and make future growth dependent on further restructuring or funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound
The return to revenue growth indicates that demand or commercialization improved after several years of decline. If maintained, a larger revenue base can support operating leverage, strengthen customer and partner relevance, and provide a foundation for rebuilding the company’s financial profile.
Read all positive factors
Anoto Group AB (ANOT) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr195.12M
Dividend YieldN/A
Average Volume (3M)3.51M
Price to Earnings (P/E)―
Beta (1Y)0.31
Revenue Growth17.82%
EPS Growth52.11%
CountrySE
Employees31
SectorGeneral
Sector StrengthN/A
IndustryComputer Hardware
Share Statistics
EPS (TTM)-0.08
Shares Outstanding1,102,362,800
10 Day Avg. Volume6,210,493
30 Day Avg. Volume3,514,605
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)34.24
Price to Sales (P/S)2.27
P/FCF Ratio-1.37
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)-0.02
Revenue Forecast (FY)N/A
Anoto Group AB Business Overview & Revenue Model
Company Description
Anoto Group AB (publ) provides digital writing and drawing solutions worldwide. It operates through three segments: Enterprise Solutions (B2B), Retail(B2C), and OEM. The company offers ACE, a cloud-based forms system that provide paper document ha...
How the Company Makes Money
Anoto makes money primarily by commercializing its handwriting digitization technology through a mix of technology licensing and product- and solution-related sales tied to its intellectual property and platform. Key revenue streams have historica...
Anoto Group AB Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
16
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 25.34M | 22.37M | 30.07M | 43.01M | 69.36M | 71.73M |
| Gross Profit | 11.80M | 7.12M | 14.36M | 27.04M | 42.90M | 38.58M |
| EBITDA | -56.36M | -54.48M | -53.76M | 38.95M | -21.92M | -24.86M |
| Net Income | -90.00M | -96.23M | -55.78M | -84.24M | -30.90M | -40.22M |
Balance Sheet | ||||||
| Total Assets | 77.93M | 95.87M | 144.82M | 143.62M | 238.73M | 239.07M |
| Cash, Cash Equivalents and Short-Term Investments | 1.17M | 196.00K | 30.67M | 2.62M | 1.72M | 3.88M |
| Total Debt | 56.45M | 25.70M | 4.64M | 24.29M | 72.17M | 41.64M |
| Total Liabilities | 119.07M | 94.39M | 64.70M | 84.28M | 147.08M | 106.33M |
| Stockholders Equity | -41.14M | 1.48M | 80.13M | 59.33M | 111.00M | 144.51M |
Cash Flow | ||||||
| Free Cash Flow | -19.25M | -37.20M | -51.96M | -40.00M | -32.33M | -46.33M |
| Operating Cash Flow | -11.26M | -33.18M | -43.98M | -40.73M | -27.95M | -39.02M |
| Investing Cash Flow | -17.62M | -18.11M | -12.44M | -1.13M | -2.27M | -7.01M |
| Financing Cash Flow | 29.79M | 47.73M | 84.44M | 28.16M | 27.70M | 47.53M |
Anoto Group AB Technical Analysis
Positive
0.05
Price Trends
0.14
Positive
0.12
Positive
0.08
Positive
Market Momentum
0.02
Negative
63.40
Neutral
77.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ANOT, the sentiment is Positive. The current price of 0.05 is below the 20-day moving average (MA) of 0.15, below the 50-day MA of 0.14, and below the 200-day MA of 0.08, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 63.40 is Neutral, neither overbought nor oversold. The STOCH value of 77.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ANOT.
Anoto Group AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | kr491.65M | -25.14 | ― | ― | 21.86% | 74.32% | |
50 Neutral | kr29.54M | -28.75 | -351.08% | ― | -13.56% | 96.77% | |
47 Neutral | kr195.12M | -1.73 | 646.94% | ― | 17.82% | 52.11% | |
45 Neutral | kr178.76M | -2.35 | -18.04% | ― | -19.38% | -78.61% | |
42 Neutral | kr252.88M | -0.82 | -72.84% | ― | -31.53% | -1626.52% |
* General Sector Average
SE:ANOT
Anoto Group AB
0.19
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-16.89%
Anoto Group AB Corporate Events
Anoto Rebrands as INQ Group to Reflect Shift to AI‑Driven Digital Writing Platform
Aug 28, 2026
INQ Group AB, previously known as Anoto Group AB, has formally adopted its new corporate identity after registering its new name and articles of association with the Swedish Companies Registration Office. The company’s shares will remain tra...
Anoto AGM Approves Name Change to INQ Group and Major Capital Restructuring
Aug 1, 2026
Anoto Group AB’s Annual General Meeting approved the 2025 accounts and decided to retain earnings without paying a dividend, while maintaining a five-member board and reappointing Kevin Adeson as chairman alongside the existing auditor. The ...
Anoto Secures First Lamy Order to Launch Co-Branded Digital Pen Globally
Jul 14, 2026
Anoto Group AB, a Swedish digital writing-technology specialist, develops AI-enhanced pens and platforms under its inq brand to bridge analog handwriting with digital workflows for consumer and professional markets. The company’s products ar...
Anoto calls AGM to approve name change, capital restructuring and new incentive plans
Jul 2, 2026
Anoto Group AB has called shareholders to its Annual General Meeting in Stockholm on 31 July 2026, where standard AGM business will be addressed, including approval of financial statements and discharge of board members and the CEO from liability....
Anoto Plans Rebrand to INQ Group and Reverse Share Split
Jul 2, 2026
Anoto Group AB, listed on Nasdaq Stockholm, operates in the digital writing technology sector, creating hardware and software that convert handwriting into digital workflows for consumer, education and corporate markets. Building on nearly twenty-...
Anoto’s inq strikes premium digital writing partnership with LAMY
Jun 29, 2026
Anoto’s consumer brand inq has entered a strategic collaboration with German premium pen manufacturer C. Josef Lamy GmbH to co-develop and market co-branded smart pens and digital notebooks. The partnership combines inq’s digital writi...
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.