AegirBio AB (SUBGEN) AI Stock Analysis

AegirBio AB

(Nasdaq OMX AB:SUBGEN)

Select Model

Rating:45Neutral

Price Target:SEK 0.03▼(-6.06% Downside)

Action:reiterated

Date:08/28/26

The overall score of 45 reflects a speculative turnaround company with a stark contrast between improving fundamentals and extremely weak market sentiment. The primary strength is the company's dramatic revenue growth and recent generation of positive operating cash flow, suggesting the business model is gaining traction. However, these positives are heavily overshadowed by persistent deep net losses and a decisively bearish technical trend, with the stock trading below all key moving averages. The negative P/E ratio further underscores the lack of current profitability. The company's high beta of 5.48 indicates extreme volatility, making this a high-risk investment where operational progress has yet to be reflected in market performance.

Positive Factors

Strong Revenue GrowthThe sharp increase in TTM revenue indicates improving commercial traction and a growing operating base. If sustained, this scale can provide greater leverage over fixed costs and create a foundation for better profitability, although current losses remain substantial.

Negative Factors

Severe and Widening LossesVery large operating and net losses show that revenue growth is not yet translating into sustainable earnings. The wider net loss indicates costs are rising faster than the business is scaling, leaving profitability dependent on a substantial and durable improvement in operating performance.

AegirBio AB (SUBGEN) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 72.42M
Dividend Yield: ―
Average Volume (3M): 21.94M
Price to Earnings (P/E): -0.3
Beta (1Y): 5.58
Revenue Growth: ―
EPS Growth: ―
Country: Sweden
Employees: 251
Sector: Technology
Sector Strength: 61
Industry: Software - Infrastructure

AegirBio AB Business Overview & Revenue Model

Company Description

Subgen AI AB develops artificial intelligence-based models and applications to control data for government and businesses. The company engages in the provision of information society services aimed at delivering financial and related knowledge tools...

How the Company Makes Money

Publicly verifiable, up-to-date detail on AegirBio AB’s specific revenue model (e.g., current product portfolio sold, pricing structure, customer mix, revenue breakdown by segment/geography, and named commercial partnerships) is not available in the...

AegirBio AB Financial Statement Overview

Summary

The company shows a high-risk, high-reward financial profile. Explosive revenue growth (>90%) and a shift to positive operating cash flow are significant strengths. However, deep net losses (TTM net margin -56%) and negative free cash flow indicate that sustainable profitability is not yet secured. The balance sheet has been recapitalized, but the company now carries debt and generates negative returns on equity.

Income Statement

45Neutral

Balance Sheet

55Neutral

Cash Flow

60Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	215.49M	204.39M	203.76M	92.00K	1.71M	13.28M
Gross Profit	74.27M	75.16M	-14.27M	44.00K	-23.71M	5.51M
EBITDA	-129.07M	-104.63M	-27.02M	-34.67M	-351.78M	-74.20M
Net Income	-121.30M	-88.88M	-49.63M	-59.70M	-362.83M	-92.33M
Balance Sheet
Total Assets	808.26M	617.77M	32.61M	53.10M	66.87M	404.37M
Cash, Cash Equivalents and Short-Term Investments	19.51M	18.74M	283.00K	12.14M	14.59M	34.03M
Total Debt	240.41M	102.41M	45.48M	32.72M	7.58M	9.83M
Total Liabilities	345.68M	200.62M	71.25M	54.55M	27.04M	33.95M
Stockholders Equity	462.59M	418.65M	-38.65M	-1.45M	39.83M	370.42M
Cash Flow
Free Cash Flow	-6.84M	-20.59M	-12.58M	-47.52M	-49.06M	-109.37M
Operating Cash Flow	17.59M	-12.56M	-12.57M	-41.99M	-49.00M	-109.37M
Investing Cash Flow	-32.55M	-66.47M	-15.55M	-5.54M	-65.00K	1.60M
Financing Cash Flow	33.10M	89.26M	16.24M	45.05M	29.26M	130.25M

AegirBio AB Technical Analysis

Technical Analysis SentimentNeutral

Last Price0.03

Price Trends

50DMA0.03Negative

100DMA0.05Negative

200DMA0.14Negative

Market Momentum

MACD-0.00Negative

RSI50.79Neutral

STOCH45.83Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SUBGEN, the sentiment is Neutral. The current price of 0.03 is above the 20-day moving average (MA) of 0.03, below the 50-day MA of 0.03, and below the 200-day MA of 0.14, indicating a neutral trend. The MACD of -0.00 indicates Negative momentum. The RSI at 50.79 is Neutral, neither overbought nor oversold. The STOCH value of 45.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:SUBGEN.

AegirBio AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

SE:SUBGEN against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:GENI	91Outperform	SEK 456.03M	14.38	―	4.72%	6.76%	1.88%
SE:CARA	73Outperform	SEK 1.79B	46.99	―	―	―	―
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SE:SLEEP	60Neutral	SEK 496.80M	41.48	17.62%	2.16%	-17.74%	-79.85%
SE:SEYE	51Neutral	SEK 2.10B	-15.69	―	―	35.21%	40.30%
SE:SUBGEN	45Neutral	SEK 72.42M	-0.29	-27.63%	―	―	―
SE:QCORE	38Underperform	SEK 14.59M	-0.34	―	―	-18.34%	59.68%

* Technology Sector Average

Performance Comparison

SE:SUBGEN and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:SUBGEN	AegirBio AB	0.03	-10.57	-99.70%
SE:SLEEP	Sleep Cycle AB	24.50	1.12	4.77%
SE:QCORE	Qlucore AB	0.34	-0.13	-27.66%
SE:GENI	Generic Sweden AB	37.10	-7.96	-17.66%
SE:CARA	Carasent AB	26.90	-1.35	-4.78%
SE:SEYE	Smart Eye AB	53.50	-29.50	-35.54%

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: Aug 28, 2026

AegirBio AB AI Stock Analysis