Bambuser AB (publ)

BUSER.ST

Software - Application · Technology

Price

kr 22.40

+4.00 (+21.74%)

Market Cap

kr 180.4M

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Share count rising — dilution

+7.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 6.5M (2021) → 7.0M (2025)

Winston Score History

The full picture

Bambuser is a Swedish software company that helps brands and retailers sell products through live video shopping. Think of it like a TV shopping channel, but hosted on a brand's own website or app. Its main customers are fashion, beauty, and retail companies that want to show off products in real time and let viewers buy instantly while watching.

Bambuser charges brands a software-as-a-service (SaaS) fee to use its live and one-to-one video commerce platform. The company is headquartered in Stockholm and operates mainly in Europe and North America, with some presence in Asia. Its technology is embedded directly into clients' own digital storefronts, which creates some switching costs once a brand is integrated. However, the deeply negative operating margin shows the company is spending far more than it earns, and its biggest challenge is proving that live shopping — already popular in China — can gain enough traction in Western markets to build a sustainable, profitable business.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-14.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+11.8% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

kr 72M/ year

↓ Declining (-10% vs prior year)

87.0% of revenue

5.8x the sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

56.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~9 months

kr 104M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Bambuser AB (publ) has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

41.4%

Healthy — 41.4% gross margin

Profit after running costs

Operating Margin

-136.4%

Losing money on operations — -136.4%

Return on the money invested

ROCE

-122.6%

Weak — -122.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-19.3%

Shrinking sales (-19.3% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-151.0%

Burning cash (-151.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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