Fluicell AB (FLUI) AI Stock Analysis

Fluicell AB

(Nasdaq OMX AB:FLUI)

Select Model

Rating:56Neutral

Price Target:SEK 29.00▲(3.94% Upside)

Action:reiterated

Date:09/11/26

The score is driven primarily by improving financial performance (strong TTM revenue growth and a shift to profitability) tempered by ongoing negative operating and free cash flow, which keeps funding risk elevated. Technical signals are mixed-to-weak (negative MACD and sub-50 RSI), while valuation is moderately supportive with a mid-teens P/E and no dividend yield provided.

Positive Factors

Revenue and Profitability InflectionThe latest TTM period shows a meaningful shift from losses to positive EBIT and net income alongside 67.4% revenue growth. If this improvement is sustained, it can strengthen operating leverage, support reinvestment, and establish a more durable earnings base.

Negative Factors

Business Is Not Yet Self-FundingNegative operating and free cash flow means reported profitability has not yet translated into internally generated funding. Continued cash burn can constrain investment capacity and increase reliance on external financing until revenue growth produces consistently positive operating cash conversion.

Fluicell AB (FLUI) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 38.33M
Dividend Yield: ―
Average Volume (3M): 5,101
Price to Earnings (P/E): 13.7
Beta (1Y): 1.07
Revenue Growth: 837.37%
EPS Growth: ―
Country: Sweden
Employees: 11
Sector: Healthcare
Sector Strength: 51
Industry: Biotechnology

Fluicell AB Business Overview & Revenue Model

Company Description

Fluicell AB (publ) is a global provider of cutting-edge single-cell discovery platforms, catering to applications in biomedicine, drug development, and bioprinting. The company's product line includes the BioPen PRIME and BioPen FLEX microfluidic sys...

How the Company Makes Money

Fluicell makes money primarily by selling life-science research products and related services built around its single-cell microfluidics technology. Key revenue streams typically include: (1) Product sales of instruments/platforms (e.g., microfluidic...

Fluicell AB Financial Statement Overview

Summary

TTM results show a meaningful turnaround with strong revenue growth (+67.4%), very high gross margin (~91.6%), and positive EBIT/net income. However, cash flow quality is weak: operating cash flow is slightly negative and free cash flow is meaningfully negative (about -4.1M), indicating the business is not yet self-funding. The balance sheet is supportive with modest leverage (debt-to-equity ~0.12) and improved equity base, but the company’s multi-year history of losses raises durability risk.

Income Statement

62Positive

Balance Sheet

71Positive

Cash Flow

32Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	19.86M	6.00M	1.86M	3.34M	3.25M	2.60M
Gross Profit	18.20M	-8.69M	3.76M	1.74M	2.59M	1.89M
EBITDA	2.08M	-8.31M	-14.99M	-25.91M	-20.89M	-21.08M
Net Income	2.80M	-8.33M	-15.51M	-26.55M	-21.49M	-21.72M
Balance Sheet
Total Assets	25.01M	18.48M	25.51M	9.34M	31.77M	26.98M
Cash, Cash Equivalents and Short-Term Investments	30.00K	2.26M	15.92M	2.76M	24.46M	20.69M
Total Debt	2.00M	0	0	0	0	0
Total Liabilities	8.54M	7.57M	6.27M	8.91M	8.32M	7.87M
Stockholders Equity	16.47M	10.90M	19.23M	425.00K	23.45M	19.11M
Cash Flow
Free Cash Flow	-4.08M	-13.61M	-15.67M	-27.23M	-22.18M	-19.41M
Operating Cash Flow	-116.00K	-4.95M	-15.67M	-27.23M	-21.04M	-18.64M
Investing Cash Flow	-6.32M	-8.67M	-3.49M	0	-1.14M	-772.00K
Financing Cash Flow	2.00M	0	32.32M	5.53M	25.94M	21.31M

Fluicell AB Technical Analysis

Technical Analysis SentimentPositive

Last Price27.90

Price Trends

50DMA30.03Negative

100DMA30.98Negative

200DMA24.74Positive

Market Momentum

MACD-0.68Negative

RSI46.08Neutral

STOCH55.56Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:FLUI, the sentiment is Positive. The current price of 27.90 is below the 20-day moving average (MA) of 27.99, below the 50-day MA of 30.03, and above the 200-day MA of 24.74, indicating a neutral trend. The MACD of -0.68 indicates Negative momentum. The RSI at 46.08 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:FLUI.

Fluicell AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

SE:FLUI against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:FLUI	56Neutral	SEK 38.33M	13.65	21.37%	―	837.37%	―
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SE:NXTCL	46Neutral	SEK 29.07M	-0.60	-81.23%	―	-4.02%	35.86%
SE:BIOVIC.B	41Neutral	SEK 103.68M	-1.44	-75.51%	―	56.06%	63.95%
SE:FLUO	40Underperform	SEK 498.65M	-6.94	―	―	―	-23.57%
SE:XINT	39Underperform	SEK 134.36M	-2.67	245.07%	―	-38.46%	9.02%

* Healthcare Sector Average

Performance Comparison

SE:FLUI and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:FLUI	Fluicell AB	27.90	14.90	114.62%
SE:XINT	Xintela AB	0.16	-0.28	-63.97%
SE:BIOVIC.B	Biovica International AB Class B	0.36	-0.14	-27.47%
SE:NXTCL	NextCell Pharma AB	0.23	-0.66	-74.16%
SE:BIOWKS	Bio-Works Technologies AB	3.00	0.26	9.49%
SE:FLUO	FluoGuide A/S	30.50	-9.50	-23.75%

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 11, 2026

Fluicell AB AI Stock Analysis