Teneo AI AB Class B AI Stock Analysis
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Teneo AI AB Class B (TENEO) AI Stock Analysis
Teneo AI AB Class B
(Nasdaq OMX AB:TENEO)
The score is held down primarily by very weak financial performance (persistent losses, ongoing cash burn, and a pressured balance sheet with negative equity). Technicals also remain bearish with the stock trading below all key moving averages, despite oversold readings. The earnings call adds some offset from cost cuts, recapitalization and strong gross margin, but execution risk remains high given current revenue below the cost base and uncertainty around near-term break-even.
Teneo AI AB Class B (TENEO) vs. iShares MSCI Sweden ETF (EWD)
- Market Cap
- SEK 65.37M
- Dividend Yield
- ―
- Average Volume (3M)
- 9.07M
- Price to Earnings (P/E)
- -0.1
- Beta (1Y)
- 0.61
- Revenue Growth
- -55.99%
- EPS Growth
- -105.93%
- Country
- Sweden
- Employees
- 59
- Sector
- General
- Sector Strength
- 55
- Industry
- Software - Infrastructure
Teneo AI AB Class B Business Overview & Revenue Model
Company Description
Headquartered in Stockholm, Sweden, and established in 2011, Teneo AI AB (which rebranded from Artificial Solutions International AB in August 2024) delivers advanced, AI-driven automated voice communication solutions. Operating across Europe, the Un...
Teneo AI AB Class B Earnings Call Summary
The call presented a substantial restructuring and product repositioning, including a debt-free balance sheet, materially lower operating costs, a 76% gross margin, and a promising Teneo 10 pipeline. However, these positives were offset by steep year-over-year declines in sales and ARR, a current monthly revenue shortfall versus costs, deployment delays, unresolved legal matters, and only 60%–70% confidence in reaching the near-term revenue target. The outlook is therefore cautiously balanced, with management focused on converting existing implementations into revenue and reaching cash-flow break-even.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management said the company would run at about SEK 5 million a month from October, with operating expenses at approximately SEK 60 million on an annual run rate basis, and is targeting cash flow, revenue flow, which is for a break-even target around Q1; it has to add SEK 3 million per month to get there. FGS in Turkey is now going live in November instead of September, while a Nordic telco is projecting to go live in December. Of the three implementation opportunities, the company needs somewhere in the range of 40%-50% of the opportunity in that timeframe, with probably 60%-70% confidence, while Per said there was 100% confidence they would reach it before the summer and the aim was to do it before end of Q1. Gross margin was 76%, and the company expects to improve the gross margin going forward with higher volumes and a significantly lower delivery cost; if nothing else were done, runway would be nine, 10 months.
Teneo AI AB Class B Financial Statement Overview
Summary
Financial quality is very weak: revenue declined ~9.4% in 2025 vs 2024, profitability is consistently negative with volatile and sharply negative margins in 2025, and cash flow remains negative despite some improvement. The balance sheet is highly stressed with negative equity across all years and rising/high debt, indicating limited financial flexibility and elevated refinancing/liquidity risk.
Income Statement
18Very NegativeBalance Sheet
9Very NegativeCash Flow
14Very Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 35.10M | 86.16M | 84.14M | 60.53M | 45.68M | 38.87M |
| Gross Profit | -123.20M | -42.99M | 17.77M | -57.79M | 58.86M | 50.59M |
| EBITDA | -54.70M | -25.79M | -30.65M | -41.94M | -52.86M | -28.94M |
| Net Income | -131.70M | -73.35M | -65.52M | -58.00M | -85.36M | -69.47M |
Balance Sheet | ||||||
| Total Assets | 36.20M | 84.67M | 85.56M | 79.43M | 88.66M | 168.58M |
| Cash, Cash Equivalents and Short-Term Investments | 25.80M | 17.28M | 18.43M | 15.21M | 18.20M | 112.09M |
| Total Debt | 0 | 279.60M | 264.79M | 250.45M | 263.84M | 237.55M |
| Total Liabilities | 43.60M | 312.99M | 306.91M | 300.00M | 322.31M | 287.90M |
| Stockholders Equity | -7.50M | -228.32M | -221.35M | -220.57M | -233.66M | -119.32M |
Cash Flow | ||||||
| Free Cash Flow | 0 | -56.51M | -65.25M | -76.94M | -92.46M | -130.84M |
| Operating Cash Flow | -43.87M | -32.07M | -40.41M | -55.63M | -78.19M | -118.86M |
| Investing Cash Flow | -16.34M | -24.44M | -24.84M | -21.32M | -14.27M | -14.34M |
| Financing Cash Flow | 72.85M | 55.35M | 68.47M | 73.95M | -1.43M | 225.23M |
Teneo AI AB Class B Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:TENEO, the sentiment is Negative. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.03, and below the 200-day MA of 0.17, indicating a bearish trend. The MACD of -0.00 indicates Negative momentum. The RSI at 27.26 is Positive, neither overbought nor oversold. The STOCH value of 25.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:TENEO.
Teneo AI AB Class B Peers Comparison
Overall Rating
SE:UPSALE82Outperform
SE:FLOWS61Neutral
SE:ONEF55Neutral
SE:CDMIL54Neutral
SE:NEPA45Neutral- SE:TENEO45Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| SE:UPSALE | 82Outperform | SEK 451.27M | 16.85 | ― | 7.97% | 11.34% | 40.60% |
| SE:FLOWS | 61Neutral | SEK 57.60M | 16.52 | ― | ― | 0.62% | 226.67% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| SE:ONEF | 55Neutral | SEK 490.23M | -25.00 | ― | ― | 20.62% | 85.64% |
| SE:CDMIL | 54Neutral | SEK 190.70M | 42.68 | ― | ― | -12.82% | 60.94% |
| SE:NEPA | 45Neutral | SEK 58.97M | -8.35 | ― | ― | -8.44% | 80.14% |
| SE:TENEO | 45Neutral | SEK 68.19M | -0.09 | ― | ― | -55.99% | -105.93% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SE:TENEO | Teneo AI AB Class B | 0.02 | -0.40 | -95.23% | |
| SE:FLOWS | Flowscape Technology AB | 2.92 | -0.17 | -5.50% | |
| SE:UPSALE | Upsales Technology AB | 27.30 | -3.05 | -10.04% | |
| SE:ONEF | Oneflow AB | 17.50 | -9.60 | -35.42% | |
| SE:NEPA | Nepa AB | 7.68 | -7.67 | -49.97% | |
| SE:CDMIL | Codemill AB | 14.00 | -1.90 | -11.95% |
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 03, 2026