ELLWEE AB (ORTIN) AI Stock Analysis

ELLWEE AB

(Nasdaq OMX AB:ORTIN)

Select Model

Rating:41Neutral

Price Target:SEK 0.02▼(-4.35% Downside)

Action:upgraded

Date:10/21/26

The score is driven primarily by weak financial performance (sharp revenue decline, large losses, negative cash flow, and negative equity). Technical indicators also point to a sustained downtrend with negative momentum. Valuation provides little offset since the negative P/E reflects losses and no dividend yield is available.

Positive Factors

Debt ReductionSubstantially lower debt than in 2024 reduces some balance-sheet pressure and may lower the burden of interest and refinancing. This provides more financial flexibility than the prior year, although the benefit is constrained by negative equity and continuing operating losses.

Negative Factors

Revenue Collapse and LossesThe sharp revenue contraction and very large net loss show that the current operating model is not producing dependable earnings. Such deterioration weakens reinvestment capacity, makes fixed costs harder to absorb, and leaves future profitability dependent on a substantial business recovery.

ELLWEE AB (ORTIN) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 3.57M
Dividend Yield: ―
Average Volume (3M): 2.06M
Price to Earnings (P/E): -0.0
Beta (1Y): -0.19
Revenue Growth: ―
EPS Growth: ―
Country: Sweden
Employees: 34
Sector: Technology
Sector Strength: 61
Industry: Information Technology Services

ELLWEE AB Business Overview & Revenue Model

Company Description

Ortelius International AB, a technology company, engages in AI- and data-driven business operations. The company is based in Malmö, Sweden.

ELLWEE AB Financial Statement Overview

Summary

Fundamentals are weak and unstable: 2025 saw a sharp revenue collapse (~77% YoY) and very large losses (net margin roughly -83%). Cash flow turned negative again (negative operating and free cash flow) and the balance sheet deteriorated to slightly negative equity, indicating elevated financing and resilience risk despite lower debt.

Income Statement

24Negative

Balance Sheet

18Very Negative

Cash Flow

22Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	26.45M	51.91M	256.54M	238.24M	209.36M	28.93M
Gross Profit	-8.74M	10.19M	23.47M	24.36M	28.07M	5.46M
EBITDA	-12.17M	-29.17M	19.23M	-24.21M	-16.72M	-32.79M
Net Income	-24.51M	-43.05M	6.09M	-36.43M	-74.40M	-39.88M
Balance Sheet
Total Assets	76.59M	120.09M	77.17M	85.03M	83.79M	112.32M
Cash, Cash Equivalents and Short-Term Investments	1.33M	1.06M	4.63M	4.17M	14.88M	11.74M
Total Debt	1.46M	2.31M	36.42M	40.99M	32.46M	22.64M
Total Liabilities	73.90M	120.26M	69.00M	66.59M	49.61M	68.37M
Stockholders Equity	2.69M	-170.00K	8.18M	18.44M	34.18M	43.95M
Cash Flow
Free Cash Flow	127.00K	-4.39M	4.91M	-5.51M	-47.70M	-58.37M
Operating Cash Flow	127.00K	-3.69M	5.15M	-5.20M	-39.97M	-51.03M
Investing Cash Flow	0	-703.00K	-212.09K	-308.68K	-23.66M	-17.10M
Financing Cash Flow	148.00K	5.38M	-4.48M	-5.21M	66.77M	73.99M

ELLWEE AB Technical Analysis

Technical Analysis SentimentNegative

Last Price0.02

Price Trends

50DMA0.04Negative

100DMA0.09Negative

200DMA0.26Negative

Market Momentum

MACD-0.01Negative

RSI35.02Neutral

STOCH72.22Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ORTIN, the sentiment is Negative. The current price of 0.02 is below the 20-day moving average (MA) of 0.03, below the 50-day MA of 0.04, and below the 200-day MA of 0.26, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 35.02 is Neutral, neither overbought nor oversold. The STOCH value of 72.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:ORTIN.

ELLWEE AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

SE:ORTIN against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:PACT	78Outperform	SEK 3.78B	16.24	21.32%	1.73%	3.73%	55.91%
SE:EXS	68Neutral	SEK 1.53B	24.15	11.71%	1.67%	9.08%	-14.10%
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SE:KNOW	60Neutral	SEK 3.21B	-11.65	-7.43%	2.05%	-5.94%	-382.16%
SE:DUST	49Neutral	SEK 2.13B	-2.69	―	―	2.94%	83.00%
SE:ORTIN	41Neutral	SEK 3.57M	-0.00	702.52%	―	―	―
SE:WYLD	39Underperform	SEK 31.39M	-0.10	9185.11%	―	-123.86%	96.36%

* Technology Sector Average

Performance Comparison

SE:ORTIN and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:ORTIN	ELLWEE AB	0.02	-3.18	-99.28%
SE:WYLD	Wyld Networks AB	0.17	-0.42	-70.56%
SE:EXS	Exsitec Holding AB	113.50	-43.82	-27.85%
SE:KNOW	Knowit AB	117.20	0.56	0.48%
SE:PACT	Proact IT Group AB	150.40	49.49	49.04%
SE:DUST	Dustin Group AB	1.57	-0.40	-20.08%

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: Oct 21, 2026

ELLWEE AB AI Stock Analysis