Nepa AB AI Stock Analysis
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Nepa AB (NEPA) AI Stock Analysis
Nepa AB
(Nasdaq OMX AB:NEPA)
The overall score is very low, driven primarily by a catastrophic financial performance characterized by collapsing revenues, negative margins, and cash burn. This is compounded by a deeply bearish technical trend. While the earnings call reveals some green shoots in subscription growth and cost control, these are nascent and overshadowed by the severe fundamental deterioration and ongoing operational challenges, including the CEO's departure.
Nepa AB (NEPA) vs. iShares MSCI Sweden ETF (EWD)
- Market Cap
- SEK 59.45M
- Dividend Yield
- ―
- Average Volume (3M)
- 69.29K
- Price to Earnings (P/E)
- -8.2
- Beta (1Y)
- 0.74
- Revenue Growth
- -8.44%
- EPS Growth
- 80.14%
- Country
- Sweden
- Employees
- 189
- Sector
- General
- Sector Strength
- 55
- Industry
- Specialty Business Services
Nepa AB Business Overview & Revenue Model
Company Description
Nepa AB (publ), a Swedish enterprise established in 2006 and headquartered in Stockholm, specializes in providing consumer research and advanced analytics. The company delivers a comprehensive array of solutions designed to optimize customer experien...
Nepa AB Earnings Call Summary
The call presented a mixed picture. Subscription revenue, ARR, margins, earnings, cost efficiency, and the Trinity offering showed positive progress, while sequential ARR, retention, churn, ad hoc bookings and revenue, total net sales, and operating cash flow were under pressure. Management is focused on improving commercial execution and expects delayed ad hoc activity and projects to return in Q4 or subsequent quarters, but the current sales conversion weakness remains a notable challenge.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
For Q4, Nepa’s priorities are improved sales executions with clearer priorities, structured account development, closer coordination between sales delivery and specialists, continued ARR growth, improved conversion, winning more clients, and returning ARR to sequential growth; the company expects projects deferred from Q3 to return in the following quarter or quarters, is expecting a lot of ad hoc bookings coming back in Q4, and says it would not judge the lower level of ad hoc activity as a new normal. Nepa also plans to expand client relationships across brand, campaign, and cMMM, continue to drive operational leverage within the existing organization, and focus on replacements rather than net additions, with personnel costs following the same trajectory but maybe flattening out a bit. The company reported subscription revenue growth of 14.8%, ARR growth of 9.7% year-on-year to SEK 135.8 million, net revenue retention of 95.8%, churn of 1.6%, ARR bookings growth of 11%, net sales declining by 2.6%, and adjusted EBITDA less CapEx of SEK 2.3 million in Q3, while Anders Dahl said he will stay at least until the end of Q1 and leave during Q1 of 2027.
Nepa AB Financial Statement Overview
Summary
Financial performance is critically weak. The income statement shows a severe, multi-year revenue decline and a collapse in gross margin into negative territory, leading to deep operating and net losses. The cash flow statement confirms the business is burning cash, with negative operating and free cash flow. The only mitigating factor is a debt-free balance sheet, but equity is eroding rapidly due to sustained losses, making the overall financial health extremely poor.
Income Statement
8Very NegativeBalance Sheet
45NeutralCash Flow
10Very Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 213.48M | 222.60M | 268.47M | 293.08M | 312.14M | 295.46M |
| Gross Profit | -4.99M | -12.43M | 203.99M | 241.36M | 263.24M | 242.17M |
| EBITDA | 7.84M | -12.30M | 17.02M | -1.69M | 32.95M | 51.84M |
| Net Income | -7.31M | -34.04M | -2.08M | -14.39M | 17.49M | 38.59M |
Balance Sheet | ||||||
| Total Assets | 77.82M | 98.46M | 157.64M | 179.19M | 211.12M | 196.71M |
| Cash, Cash Equivalents and Short-Term Investments | 8.12M | 14.51M | 41.07M | 38.38M | 63.83M | 85.07M |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 51.83M | 64.85M | 83.34M | 92.71M | 101.43M | 93.92M |
| Stockholders Equity | 25.99M | 33.61M | 74.30M | 86.48M | 109.69M | 102.80M |
Cash Flow | ||||||
| Free Cash Flow | -4.27M | -13.71M | 12.43M | -15.77M | -11.49M | 14.67M |
| Operating Cash Flow | -4.24M | -13.71M | 15.26M | 6.09M | 15.90M | 26.14M |
| Investing Cash Flow | -30.00K | -3.18M | -2.89M | -21.87M | -27.47M | -10.59M |
| Financing Cash Flow | -10.25M | -9.67M | -9.67M | -9.67M | -9.67M | 0 |
Nepa AB Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NEPA, the sentiment is Negative. The current price of 7.56 is below the 20-day moving average (MA) of 9.29, below the 50-day MA of 13.03, and below the 200-day MA of 17.32, indicating a bearish trend. The MACD of -1.83 indicates Negative momentum. The RSI at 23.52 is Positive, neither overbought nor oversold. The STOCH value of 63.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:NEPA.
Nepa AB Peers Comparison
Overall Rating
SE:UPSALE82Outperform
SE:ADTR67Neutral
SE:ONEF60Neutral
SE:MOMENT46Neutral
SE:4C44Neutral- SE:NEPA39Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| SE:UPSALE | 82Outperform | SEK 459.69M | 17.10 | ― | 7.85% | 11.34% | 40.60% |
| SE:ADTR | 67Neutral | SEK 704.14M | -129.69 | ― | 5.30% | 13.93% | 79.18% |
| SE:ONEF | 60Neutral | SEK 495.90M | -53.79 | ― | ― | 20.62% | 85.64% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| SE:MOMENT | 46Neutral | SEK 129.62M | 3.62 | ― | ― | 13.46% | ― |
| SE:4C | 44Neutral | SEK 243.94M | 23.93 | ― | ― | -4.67% | ― |
| SE:NEPA | 39Underperform | SEK 60.39M | -8.22 | ― | ― | -8.44% | 80.14% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SE:NEPA | Nepa AB | 7.56 | -7.44 | -49.60% | |
| SE:UPSALE | Upsales Technology AB | 27.70 | -2.36 | -7.84% | |
| SE:ONEF | Oneflow AB | 17.75 | -8.75 | -33.02% | |
| SE:4C | 4C Group AB | 4.93 | -4.33 | -46.75% | |
| SE:ADTR | Adtraction Group AB | 41.50 | 17.06 | 69.78% | |
| SE:MOMENT | Moment Group AB | 5.00 | -1.30 | -20.63% |
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: Oct 27, 2026