Oneflow AB (ONEF) AI Stock Analysis

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Oneflow AB

(Nasdaq OMX AB:ONEF)

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Rating:59Neutral

Price Target:SEK 18.50▲(2.78% Upside)

Action:reiterated

Date:11/13/26

The score is driven primarily by a clearly improving financial profile: rapid revenue growth, a dramatic narrowing of losses to near-breakeven, positive EBITDA, and a decisive swing to positive operating and free cash flow, all supported by a low-debt balance sheet. These strengths are tempered by a still-negative bottom line, a thin and volatile gross margin, an equity base eroded by past losses, and slowing top-line growth. Valuation is a drag since the negative P/E offers no earnings support and there is no dividend. Technicals are neutral, with the price hovering around its longer-term moving averages and momentum indicators showing no clear direction. Overall, Oneflow screens as an improving but not yet proven business.

Positive Factors

EBITDA profitability inflectionThe move to positive EBITDA indicates improving operating economics and cost discipline in the SaaS model. If maintained, this provides a stronger foundation for future earnings growth, supports reinvestment in the platform, and reduces reliance on external financing.

Negative Factors

Bottom-line lossesDespite the EBITDA improvement, Oneflow has not yet converted its operations into bottom-line profitability. Continued net losses can constrain retained capital and indicate that operating gains still need to cover remaining expenses before earnings quality is fully established.

Oneflow AB (ONEF) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 511.91M
Dividend Yield: ―
Average Volume (3M): 12.06K
Price to Earnings (P/E): -54.5
Beta (1Y): 0.43
Revenue Growth: 20.62%
EPS Growth: 85.64%
Country: Sweden
Employees: 127
Sector: General
Sector Strength: 55
Industry: Software - Application

Oneflow AB Business Overview & Revenue Model

Company Description

Oneflow AB (publ) functions as a global Software-as-a-Service (SaaS) enterprise, dedicated to the development, commercialization, and deployment of digital platforms for contract administration and automation. Its offerings are specifically designed...

Oneflow AB Financial Statement Overview

Summary

Oneflow is in the late stages of a turnaround. Revenue has more than quadrupled since 2021 to SEK 194.1m on a TTM basis, losses have narrowed sharply (net loss down to SEK 9.6m from SEK 51.1m), EBITDA has turned positive at SEK 12.5m, and both operating (SEK 56.6m) and free cash flow (SEK 33.8m) have flipped decisively positive. The balance sheet carries minimal debt (debt-to-equity of 0.09) with equity funding about 41% of assets. Offsetting this are decelerating growth, a modest and inconsistent ~34% gross margin for a software business, an equity base depleted by past losses, a still-negative bottom line, and a positive cash flow record that is only one year old.

Income Statement

58Neutral

Balance Sheet

66Positive

Cash Flow

72Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	194.15M	170.60M	135.73M	99.67M	69.18M	43.62M
Gross Profit	65.43M	57.82M	16.54M	-53.11M	15.92M	62.01M
EBITDA	12.48M	-2.41M	-45.55M	-65.34M	-45.23M	-17.52M
Net Income	-9.56M	-51.10M	-81.96M	-95.51M	-67.29M	-31.10M
Balance Sheet
Total Assets	223.03M	232.85M	270.55M	245.63M	309.81M	102.75M
Cash, Cash Equivalents and Short-Term Investments	52.19M	43.34M	105.26M	100.60M	211.65M	35.21M
Total Debt	8.28M	14.96M	9.52M	13.62M	9.34M	46.67M
Total Liabilities	131.60M	137.56M	123.38M	108.70M	79.20M	90.89M
Stockholders Equity	91.43M	95.30M	147.16M	136.92M	230.61M	11.87M
Cash Flow
Free Cash Flow	33.80M	-53.98M	-78.65M	-103.95M	-67.45M	-27.65M
Operating Cash Flow	56.56M	-689.00K	-26.62M	-52.73M	-28.89M	-3.95M
Investing Cash Flow	-46.86M	-53.15M	-51.98M	-52.32M	-39.47M	-24.55M
Financing Cash Flow	-8.85M	-7.81M	83.20M	-5.95M	244.78M	25.23M

Oneflow AB Technical Analysis

Technical Analysis SentimentPositive

Last Price18.00

Price Trends

50DMA17.58Positive

100DMA17.70Positive

200DMA17.79Positive

Market Momentum

MACD0.01Negative

RSI55.32Neutral

STOCH57.81Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ONEF, the sentiment is Positive. The current price of 18.00 is above the 20-day moving average (MA) of 17.41, above the 50-day MA of 17.58, and above the 200-day MA of 17.79, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 55.32 is Neutral, neither overbought nor oversold. The STOCH value of 57.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:ONEF.

Oneflow AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:ONEF against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:UPSALE	82Outperform	SEK 454.64M	16.67	―	8.05%	11.34%	40.60%
SE:LIME	79Outperform	SEK 3.63B	29.53	32.20%	1.65%	8.57%	17.98%
SE:LITI	60Neutral	SEK 183.82M	-102.81	-1.46%	―	26.50%	-137.53%
SE:ONEF	59Neutral	SEK 510.07M	-54.55	―	―	20.62%	85.64%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

SE:ONEF and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:ONEF	Oneflow AB	18.00	-8.50	-32.08%
SE:DONE	24Sevenoffice Scandinavia Ab	5.75	-0.48	-7.70%
SE:LITI	Litium AB	9.50	-3.90	-29.10%
SE:LIME	Lime Technologies AB	272.00	-43.15	-13.69%
SE:UPSALE	Upsales Technology AB	27.00	-3.06	-10.17%

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 13, 2026

Oneflow AB AI Stock Analysis