Irisity AB (IRIS) AI Stock Analysis

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Irisity AB

(Nasdaq OMX AB:IRIS)

Select Model

Rating:48Neutral

Price Target:SEK 0.30▼(-1.00% Downside)

Action:reiterated

Date:11/11/26

The score is held down primarily by very weak financial performance—persistent large losses, negative free cash flow, and declining equity—despite modest leverage and some improvement in operating cash burn. Technicals are a relative positive with price above key moving averages and positive momentum, but valuation support is limited because earnings are negative and no dividend yield is available.

Positive Factors

Revenue ReaccelerationThe return to TTM revenue growth indicates improving commercial traction after declines in earlier periods. If sustained, renewed top-line expansion can broaden the installed customer base, support operating leverage, and create a stronger foundation for future profitability.

Negative Factors

Persistent UnprofitabilityDeep and persistent losses indicate that revenue growth has not yet translated into a viable earnings model. Continued negative EBIT and net income constrain internally funded investment, weaken earnings quality, and make the timing of sustainable profitability uncertain.

Irisity AB (IRIS) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 115.26M
Dividend Yield: ―
Average Volume (3M): 732.99K
Price to Earnings (P/E): -0.5
Beta (1Y): 0.16
Revenue Growth: 26.40%
EPS Growth: 70.20%
Country: Sweden
Employees: 53
Sector: Industrials
Sector Strength: 63
Industry: Communication Equipment

Irisity AB Business Overview & Revenue Model

Company Description

Irisity AB (publ) is a Swedish company specializing in AI-powered video analytics solutions, operating both domestically and internationally. Through its IRIS platform, offered as Security-as-a-Service (SaaS), it delivers advanced AI video analytics....

How the Company Makes Money

Irisity makes money primarily by selling and licensing its AI video analytics software to customers and partners that deploy the technology on existing camera infrastructure. Revenue is typically generated through software license and/or subscription...

Irisity AB Financial Statement Overview

Summary

Financial performance is dominated by persistent deep losses and negative free cash flow. While revenue is up in TTM (+7.5%) and operating cash burn narrowed versus 2025, EBIT/net income remain sharply negative and equity has fallen materially over several years, indicating ongoing value erosion despite modest leverage.

Income Statement

18Very Negative

Balance Sheet

56Neutral

Cash Flow

24Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Mar 2024	Dec 2022	Dec 2021
Income Statement
Total Revenue	95.81M	86.06M	103.94M	117.60M	87.68M	77.29M
Gross Profit	34.26M	89.11M	106.59M	129.13M	94.79M	70.97M
EBITDA	-19.77M	-127.49M	-92.48M	-89.84M	-32.02M	6.40M
Net Income	-168.87M	-185.32M	-216.07M	-132.53M	-136.93M	-23.93M
Balance Sheet
Total Assets	357.47M	398.46M	738.23M	760.19M	863.39M	898.89M
Cash, Cash Equivalents and Short-Term Investments	3.44M	2.99M	7.55M	13.64M	17.58M	71.34M
Total Debt	30.89M	18.67M	12.65M	23.28M	15.00M	1.17M
Total Liabilities	125.82M	114.62M	117.20M	128.54M	124.31M	136.85M
Stockholders Equity	231.65M	283.84M	621.02M	631.65M	739.07M	762.04M
Cash Flow
Free Cash Flow	-23.45M	-55.35M	-59.87M	-69.65M	-68.28M	-43.25M
Operating Cash Flow	-22.23M	-40.21M	-59.87M	-42.71M	-41.96M	-27.44M
Investing Cash Flow	-17.26M	-15.13M	-33.96M	-26.94M	-26.33M	-90.16M
Financing Cash Flow	35.97M	50.44M	87.75M	63.16M	13.77M	123.79M

Irisity AB Technical Analysis

Technical Analysis SentimentPositive

Last Price0.30

Price Trends

50DMA0.26Positive

100DMA0.24Positive

200DMA0.22Positive

Market Momentum

MACD0.01Negative

RSI68.75Neutral

STOCH92.88Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:IRIS, the sentiment is Positive. The current price of 0.30 is above the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.26, and above the 200-day MA of 0.22, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 68.75 is Neutral, neither overbought nor oversold. The STOCH value of 92.88 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:IRIS.

Irisity AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

SE:IRIS against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:TAGM.B	73Outperform	SEK 454.07M	11.14	13.47%	―	1.82%	81.56%
SE:LUMEN	72Outperform	SEK 469.30M	14.34	―	―	1.32%	93.63%
SE:EPEN	65Neutral	SEK 4.67B	25.02	10.92%	1.03%	13.36%	28.48%
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SE:ALCA	58Neutral	SEK 730.43M	176.47	―	―	-4.14%	-86.52%
SE:NETI.B	52Neutral	SEK 875.68M	-21.13	-7.07%	―	-14.51%	-1025.00%
SE:IRIS	48Neutral	SEK 115.26M	-0.50	-57.59%	―	26.40%	70.20%

* Industrials Sector Average

Performance Comparison

SE:IRIS and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:IRIS	Irisity AB	0.30	0.18	141.94%
SE:EPEN	Beijer Electronics Group AB	145.40	31.45	27.59%
SE:TAGM.B	TagMaster AB Class B	29.30	13.95	90.88%
SE:NETI.B	Net Insight AB Class B	2.59	-1.61	-38.33%
SE:ALCA	Alcadon Group AB	30.00	7.50	33.33%
SE:LUMEN	LumenRadio AB	38.00	-15.00	-28.30%

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 11, 2026

Irisity AB AI Stock Analysis