Speqta AB (BRIGHT) AI Stock Analysis

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Speqta AB

(Nasdaq OMX AB:BRIGHT)

Select Model

Rating:38Underperform

Price Target:SEK 0.17▲(8.12% Upside)

Action:reiterated

Date:11/04/26

The overall score is extremely low, driven primarily by a severe deterioration in financial performance, including collapsing revenues, deep negative margins, and unsustainable cash burn. This is compounded by a persistently bearish technical trend and a negative P/E ratio that underscores the lack of profitability. The company faces fundamental viability risks with no positive catalysts evident in the provided data.

Positive Factors

Manageable LeverageDebt is relatively modest compared with equity, giving Speqta some balance-sheet flexibility despite its losses. This can support continued operations and reduce immediate financial strain, although the benefit is limited because equity has already declined materially.

Negative Factors

Severe UnprofitabilityA very large net loss relative to revenue shows that Speqta’s current business scale is not supporting its cost base. Persistently negative gross, operating, and net margins can erode capital, restrict reinvestment, and make a durable return to profitability more difficult.

Speqta AB (BRIGHT) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 35.48M
Dividend Yield: ―
Average Volume (3M): 105.02K
Price to Earnings (P/E): -0.2
Beta (1Y): 0.12
Revenue Growth: -22.11%
EPS Growth: -1.01%
Country: Sweden
Employees: 28
Sector: Communication Services
Sector Strength: 60
Industry: Internet Content & Information

Speqta AB Business Overview & Revenue Model

Company Description

BrightBid Group AB (publ) operates as an adtech firm, specializing in delivering data-driven and AI-powered services to generate web traffic for clients across Sweden and internationally. The company's offerings encompass SaaS solutions such as Brigh...

How the Company Makes Money

Speqta AB’s earnings are generally associated with performance marketing models in which revenue is tied to measurable outcomes (rather than only selling media space). Typical revenue mechanics in this sector include (a) affiliate/partner marketing c...

Speqta AB Financial Statement Overview

Summary

Financial performance is critically weak. Revenue has collapsed, the company is deeply unprofitable with a TTM net margin of -184.4%, and it is burning cash with a TTM free cash flow of -16.2M. The only minor mitigant is a low debt burden, but the rapid erosion of the equity base and negative gross margins signal severe financial distress.

Income Statement

8Very Negative

Balance Sheet

35Negative

Cash Flow

10Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	33.97M	37.29M	65.74M	57.70M	14.40M	69.10M
Gross Profit	-51.94M	35.75M	63.85M	-49.29M	11.44M	39.20M
EBITDA	-9.71M	-20.31M	-34.41M	-50.38M	-27.66M	-266.00K
Net Income	-62.63M	-71.84M	-50.63M	-60.95M	-27.61M	-31.81M
Balance Sheet
Total Assets	49.32M	60.16M	139.58M	154.80M	136.09M	406.89M
Cash, Cash Equivalents and Short-Term Investments	4.10M	2.79M	19.81M	22.32M	110.98M	302.90M
Total Debt	8.00M	4.00M	5.87M	9.73M	2.72M	7.73M
Total Liabilities	29.20M	35.39M	54.49M	71.45M	11.16M	38.02M
Stockholders Equity	20.12M	24.77M	85.09M	83.34M	124.93M	370.07M
Cash Flow
Free Cash Flow	-16.16M	-32.66M	-49.96M	-55.80M	-51.66M	-8.69M
Operating Cash Flow	-14.86M	-28.90M	-39.55M	-44.81M	-44.06M	-413.00K
Investing Cash Flow	-2.38M	-3.78M	-10.20M	33.62M	159.41M	375.96M
Financing Cash Flow	15.29M	15.72M	47.24M	25.04M	-316.89M	-112.79M

Speqta AB Technical Analysis

Technical Analysis SentimentNegative

Last Price0.16

Price Trends

50DMA0.23Negative

100DMA0.28Negative

200DMA0.36Negative

Market Momentum

MACD-0.02Negative

RSI38.50Neutral

STOCH12.42Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BRIGHT, the sentiment is Negative. The current price of 0.16 is below the 20-day moving average (MA) of 0.18, below the 50-day MA of 0.23, and below the 200-day MA of 0.36, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 38.50 is Neutral, neither overbought nor oversold. The STOCH value of 12.42 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:BRIGHT.

Speqta AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (60)

Financial Indicators

SE:BRIGHT against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:ENRO	71Outperform	SEK 458.64M	19.88	7.67%	7.29%	-2.84%	-59.42%
SE:ACAST	69Neutral	SEK 5.49B	37.88	11.62%	―	23.17%	―
SE:HEM	68Neutral	SEK 6.62B	18.45	38.14%	2.70%	-17.78%	-32.66%
Sector *	60Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
SE:NYOR	57Neutral	SEK 387.85M	-24.23	-4.06%	―	3.01%	-146.93%
SE:CTM	46Neutral	SEK 221.59M	-1.95	-11.58%	―	7.50%	66.55%
SE:BRIGHT	38Underperform	SEK 35.48M	-0.18	-239.15%	―	-22.11%	-1.01%

* Communication Services Sector Average

Performance Comparison

SE:BRIGHT and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:BRIGHT	Speqta AB	0.16	-0.10	-38.93%
SE:CTM	Catena Media plc	2.88	0.98	51.48%
SE:HEM	Hemnet Group AB	70.50	-109.09	-60.74%
SE:ACAST	Acast AB	29.65	-0.85	-2.79%
SE:ENRO	Eniro Group AB Class A	32.00	13.89	76.74%
SE:NYOR	TradeDoubler AB	6.98	0.42	6.40%

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: Nov 04, 2026

Speqta AB AI Stock Analysis