Qiiwi Games AB (QIIWI) AI Stock Analysis

0 Followers

Qiiwi Games AB

(Nasdaq OMX AB:QIIWI)

Select Model

Rating:45Neutral

Price Target:SEK 5.50▲(4.96% Upside)

Action:reiterated

Date:11/13/26

The score is primarily constrained by persistent losses, negative cash flow, and a negative P/E ratio. Strong positioning above key moving averages improves the outlook, but technical strength is insufficient to offset the company’s weak underlying financial performance.

Positive Factors

Revenue and Gross Margin ImprovementTTM revenue rebounded 28.6% to 17.3m and gross margin improved to about 51%, indicating stronger recent monetization and unit economics. If sustained, this combination can provide a healthier base for content investment and operating leverage, although profitability remains unproven.

Negative Factors

Persistent UnprofitabilityPersistent losses remain the central fundamental weakness: TTM EBIT margin is about -19% and net margin about -20%, with losses in every period shown. Without a demonstrated path to positive earnings, revenue growth may not convert into durable shareholder returns or internally funded expansion.

Qiiwi Games AB (QIIWI) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 48.47M
Dividend Yield: ―
Average Volume (3M): 37.50K
Price to Earnings (P/E): -14.2
Beta (1Y): 0.50
Revenue Growth: -14.81%
EPS Growth: 70.22%
Country: Sweden
Employees: 4
Sector: Communication Services
Sector Strength: 60
Industry: Electronic Gaming & Multimedia

Qiiwi Games AB Business Overview & Revenue Model

Company Description

Established in 2012 and based in Alingsås, Sweden, Qiiwi Games AB (publ) specializes in conceiving and distributing mobile games. The company primarily targets casual players, concentrating on popular genres such as trivia, match-3, and word/puzzle....

Qiiwi Games AB Financial Statement Overview

Summary

Financial performance is weak: the company remains loss-making with persistent negative operating and free cash flow, while equity and assets have declined. The absence of interest-bearing debt and recent TTM improvement provide limited support.

Income Statement

32Negative

Balance Sheet

38Negative

Cash Flow

28Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	16.64M	15.27M	19.86M	25.79M	34.38M	63.00M
Gross Profit	6.56M	-1.57M	19.33M	26.36M	30.74M	55.81M
EBITDA	-1.43M	-4.55M	-3.61M	-17.12M	-6.34M	-5.58M
Net Income	-3.43M	-7.92M	-7.03M	-28.04M	-15.53M	-10.87M
Balance Sheet
Total Assets	17.52M	17.39M	26.11M	35.42M	61.16M	78.76M
Cash, Cash Equivalents and Short-Term Investments	12.32M	13.21M	17.92M	25.17M	44.99M	59.52M
Total Debt	0	0	0	0	0	0
Total Liabilities	2.57M	1.51M	2.13M	4.52M	2.08M	4.54M
Stockholders Equity	14.95M	15.88M	23.98M	30.90M	59.07M	71.61M
Cash Flow
Free Cash Flow	-2.01M	-4.51M	-8.68M	-19.83M	-18.81M	-18.08M
Operating Cash Flow	-2.01M	-4.51M	-6.41M	-14.72M	-11.13M	-12.38M
Investing Cash Flow	2.03M	4.53M	1.00M	-20.11M	-7.74M	-6.19M
Financing Cash Flow	0	0	0	0	55.00K	62.96M

Qiiwi Games AB Technical Analysis

Technical Analysis SentimentPositive

Last Price5.24

Price Trends

50DMA4.70Positive

100DMA3.97Positive

200DMA2.98Positive

Market Momentum

MACD0.05Negative

RSI61.58Neutral

STOCH57.44Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:QIIWI, the sentiment is Positive. The current price of 5.24 is above the 20-day moving average (MA) of 4.48, above the 50-day MA of 4.70, and above the 200-day MA of 2.98, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 61.58 is Neutral, neither overbought nor oversold. The STOCH value of 57.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:QIIWI.

Qiiwi Games AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (60)

Financial Indicators

SE:QIIWI against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:NITRO	70Outperform	SEK 31.40M	2.17	―	―	-36.26%	―
SE:G5EN	67Neutral	SEK 542.39M	16.78	6.92%	2.74%	-20.59%	-48.48%
SE:MAGI	66Neutral	SEK 236.86M	266.87	0.31%	―	-4.32%	―
Sector *	60Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
SE:BRAVE	47Neutral	SEK 116.73M	-4.13	―	―	―	―
SE:QIIWI	45Neutral	SEK 48.47M	-14.16	-21.84%	―	-14.81%	70.22%
SE:GCOR	42Neutral	SEK 109.95M	-2.75	406.23%	―	85.53%	26.58%

* Communication Services Sector Average

Performance Comparison

SE:QIIWI and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:QIIWI	Qiiwi Games AB	5.24	2.44	87.14%
SE:G5EN	G5 Entertainment AB	73.00	-11.63	-13.74%
SE:GCOR	Gaming Corps AB	0.76	-0.27	-26.24%
SE:MAGI	MAG Interactive AB	8.94	0.06	0.68%
SE:BRAVE	Kinda Brave Entertainment Group AB	2.29	0.39	20.53%
SE:NITRO	Nitro Games Plc	1.26	-0.05	-3.96%

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

Qiiwi Games AB AI Stock Analysis