FluoGuide A/S (FLUO) AI Stock Analysis

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FluoGuide A/S

(Nasdaq OMX AB:FLUO)

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Rating:41Neutral

Price Target:SEK 28.00▼(-3.11% Downside)

Action:reiterated

Date:08/27/26

The score is held down primarily by very weak financial performance—minimal revenue, large ongoing losses, and heavy cash burn—along with rising leverage. Technicals add further pressure as the stock trades below major moving averages with negative MACD. Valuation provides limited support because the company is loss-making (negative P/E) and there is no dividend yield data.

Positive Factors

Focused oncology imaging platformFG001 targets a clear surgical need: improving tumor visualization while sparing healthy structures. If development and approval succeed, this focused platform could support product sales and licensing, creating more than one route to future commercialization.

Negative Factors

Minimal and declining revenueRevenue remains negligible and has declined sharply, while the company continues to report a very large net loss. The gap between current commercial scale and the cost base indicates substantial execution risk before the pipeline can generate meaningful recurring revenue.

FluoGuide A/S (FLUO) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 472.49M
Dividend Yield: ―
Average Volume (3M): 4,925
Price to Earnings (P/E): -6.5
Beta (1Y): 0.16
Revenue Growth: ―
EPS Growth: -23.57%
Country: Sweden
Employees: 7
Sector: General
Sector Strength: 55
Industry: Biotechnology

FluoGuide A/S Business Overview & Revenue Model

Company Description

FluoGuide A/S is a Danish life science company dedicated to developing and commercializing advanced surgical solutions. Its flagship investigational compound, FG001, is currently undergoing Phase I/II clinical trials for the treatment of high-grade g...

How the Company Makes Money

FluoGuide’s business model is centered on developing proprietary fluorescence imaging agents and monetizing them through (1) future commercial sales (if/when regulatory approvals are obtained) and/or (2) partnering and licensing transactions with lar...

FluoGuide A/S Financial Statement Overview

Summary

Overall financial quality is weak: revenue is minimal and declining, losses are very large with deeply negative margins, and operating/free cash flow show heavy ongoing cash burn. The balance sheet still has positive equity, but leverage has risen to near parity with equity, reducing flexibility if losses persist.

Income Statement

9Very Negative

Balance Sheet

38Negative

Cash Flow

14Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	54.00K	0	385.00K	423.00K	6.51M	9.61M
Gross Profit	-416.92K	-571.17K	385.00K	423.00K	6.51M	9.61M
EBITDA	-48.08M	-40.42M	-32.58M	-43.66M	-32.21M	-28.65M
Net Income	-46.24M	-40.39M	-28.96M	-38.38M	-27.34M	-23.77M
Balance Sheet
Total Assets	65.25M	88.34M	28.38M	29.61M	35.62M	53.31M
Cash, Cash Equivalents and Short-Term Investments	49.92M	78.84M	18.61M	21.67M	26.01M	46.76M
Total Debt	27.56M	28.30M	624.00K	10.83M	205.00K	57.00K
Total Liabilities	34.51M	33.78M	5.31M	16.89M	3.65M	14.61M
Stockholders Equity	30.74M	54.56M	23.07M	12.72M	31.97M	38.70M
Cash Flow
Free Cash Flow	-44.28M	-37.83M	-30.00M	-31.81M	-37.71M	-15.06M
Operating Cash Flow	-43.80M	-37.83M	-29.15M	-31.81M	-37.65M	-15.06M
Investing Cash Flow	-30.37M	-30.61M	-987.00K	-37.00K	-117.00K	0
Financing Cash Flow	74.76M	99.33M	27.08M	27.50M	17.02M	51.18M

FluoGuide A/S Technical Analysis

Technical Analysis SentimentNegative

Last Price28.90

Price Trends

50DMA32.58Negative

100DMA33.46Negative

200DMA36.25Negative

Market Momentum

MACD-0.82Positive

RSI37.78Neutral

STOCH14.67Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:FLUO, the sentiment is Negative. The current price of 28.90 is below the 20-day moving average (MA) of 30.41, below the 50-day MA of 32.58, and below the 200-day MA of 36.25, indicating a bearish trend. The MACD of -0.82 indicates Positive momentum. The RSI at 37.78 is Neutral, neither overbought nor oversold. The STOCH value of 14.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:FLUO.

FluoGuide A/S Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:FLUO against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:FLUI	58Neutral	SEK 37.78M	13.99	21.37%	―	837.37%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SE:ONCO	46Neutral	SEK 772.99M	-2.79	―	―	65.37%	43.28%
SE:BINV	43Neutral	SEK 201.36M	-0.41	-128.54%	―	-83.67%	-50.29%
SE:SPAGO	43Neutral	SEK 34.97M	-1.17	-87.37%	―	-97.52%	31.31%
SE:BIOVIC.B	41Neutral	SEK 89.52M	-1.30	-75.51%	―	56.06%	63.95%
SE:FLUO	41Neutral	SEK 480.67M	-6.51	―	―	―	-23.57%

* General Sector Average

Performance Comparison

SE:FLUO and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:FLUO	FluoGuide A/S	28.90	-14.80	-33.87%
SE:BINV	BioInvent International AB	3.02	-28.18	-90.32%
SE:ONCO	Oncopeptides AB	1.76	-3.45	-66.21%
SE:BIOVIC.B	Biovica International AB Class B	0.32	-0.25	-43.36%
SE:SPAGO	Spago Nanomedical AB	0.05	-0.07	-59.29%
SE:FLUI	Fluicell AB	28.60	15.30	115.04%

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: Aug 27, 2026

FluoGuide A/S AI Stock Analysis