SciBase Holding AB (SCIB) AI Stock Analysis

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SciBase Holding AB

(Nasdaq OMX AB:SCIB)

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Rating:38Underperform

Price Target:SEK 10.50▼(-1.41% Downside)

Action:reiterated

Date:10/15/26

The overall score is very low, driven primarily by severe financial distress and deeply negative technical momentum. The company's accelerating revenue growth is overshadowed by unsustainable cash burn and a lack of profitability. The stock is in a strong downtrend, trading below all major moving averages with oversold but still declining momentum. The negative P/E ratio further confirms the absence of fundamental value. The recent capital raise provides a temporary lifeline but does not resolve the core operational challenges.

Positive Factors

Improving Revenue GrowthThe return to stronger revenue growth indicates improving commercial traction for Nevisense and expands the scale over which fixed costs can be absorbed. If sustained, higher sales should strengthen market reach, support operating leverage, and improve the path toward eventual profitability.

Negative Factors

Deep Persistent LossesThe scale of current losses shows that the cost base remains far ahead of commercial revenue, limiting the company’s ability to fund expansion internally. Persistent unprofitability can consume equity, delay self-sustaining operations, and make future financial progress dependent on substantial cost control.

SciBase Holding AB (SCIB) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 158.85M
Dividend Yield: ―
Average Volume (3M): 9,076
Price to Earnings (P/E): -0.7
Beta (1Y): -0.15
Revenue Growth: 51.21%
EPS Growth: 42.24%
Country: Sweden
Employees: 50
Sector: General
Sector Strength: 55
Industry: Medical - Devices

SciBase Holding AB Business Overview & Revenue Model

Company Description

SciBase Holding AB (publ), a medical technology firm founded in 1998 and headquartered in Sundbyberg, Sweden, specializes in the global development and distribution of instruments for diagnosing skin cancer and other dermatological issues. Their key...

SciBase Holding AB Financial Statement Overview

Summary

Financial performance is weak. While revenue growth is strong at 14.2% and gross margins are healthy near 59%, the company is deeply unprofitable with net loss margins exceeding -200%. Cash burn is critical, with negative operating cash flow of SEK 98M, though a recent capital raise has temporarily improved the balance sheet, reducing the debt-to-equity ratio to 0.41x.

Income Statement

35Negative

Balance Sheet

48Neutral

Cash Flow

30Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	52.40M	40.46M	29.70M	23.25M	17.89M	11.73M
Gross Profit	29.14M	27.10M	21.08M	16.04M	11.23M	6.58M
EBITDA	-80.74M	-81.49M	-57.64M	-51.83M	-39.33M	-38.82M
Net Income	-97.52M	-87.06M	-61.13M	-55.59M	-39.90M	-41.69M
Balance Sheet
Total Assets	72.98M	52.17M	61.73M	64.33M	49.85M	85.46M
Cash, Cash Equivalents and Short-Term Investments	37.15M	22.60M	11.24M	34.12M	18.83M	65.61M
Total Debt	23.21M	23.03M	4.18M	6.80M	8.12M	2.86M
Total Liabilities	42.76M	45.51M	25.08M	21.28M	24.62M	14.66M
Stockholders Equity	30.22M	6.66M	36.65M	43.06M	25.24M	70.80M
Cash Flow
Free Cash Flow	-98.42M	-84.81M	-57.81M	-52.37M	-44.85M	-40.12M
Operating Cash Flow	-97.78M	-84.58M	-57.38M	-51.98M	-44.47M	-39.50M
Investing Cash Flow	-733.00K	-228.00K	-428.00K	-383.00K	-381.00K	-526.00K
Financing Cash Flow	111.83M	96.29M	34.91M	67.68M	-2.48M	64.22M

SciBase Holding AB Technical Analysis

Technical Analysis SentimentNegative

Last Price10.65

Price Trends

50DMA14.31Negative

100DMA20.81Negative

200DMA27.86Negative

Market Momentum

MACD-1.07Positive

RSI23.90Positive

STOCH17.48Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SCIB, the sentiment is Negative. The current price of 10.65 is below the 20-day moving average (MA) of 12.42, below the 50-day MA of 14.31, and below the 200-day MA of 27.86, indicating a bearish trend. The MACD of -1.07 indicates Positive momentum. The RSI at 23.90 is Positive, neither overbought nor oversold. The STOCH value of 17.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:SCIB.

SciBase Holding AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:SCIB against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:SECT.B	74Outperform	SEK 62.63B	97.13	30.26%	0.40%	13.94%	5.70%
SE:PAX	61Neutral	SEK 1.45B	-286.43	-1.22%	―	34.05%	-144.96%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SE:SEZI	55Neutral	SEK 588.77M	-5.80	-35.44%	―	18.56%	28.11%
SE:ACARIX	45Neutral	SEK 200.71M	-5.36	-96.06%	―	40.61%	32.63%
SE:SPEC	38Underperform	SEK 21.40M	-0.13	-57.15%	―	―	16.02%
SE:SCIB	38Underperform	SEK 158.85M	-0.67	-303.61%	―	51.21%	42.24%

* General Sector Average

Performance Comparison

SE:SCIB and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:SCIB	SciBase Holding AB	10.65	-9.00	-45.80%
SE:PAX	Paxman AB	62.50	1.90	3.14%
SE:SEZI	Senzime AB	3.60	-1.52	-29.65%
SE:SPEC	SpectraCure AB	0.01	-0.12	-89.05%
SE:SECT.B	Sectra AB Class B	317.60	30.09	10.47%
SE:ACARIX	Acarix AB	0.17	-0.10	-37.04%

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 15, 2026

SciBase Holding AB AI Stock Analysis