Silvair

SVRS.WA

Software - Application · Technology

Exchange

Warsaw Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Good

Stability

Good

Valuation

Data not available

Track this stock — start free trial

Winston Score History

The full picture

Silvair is a technology company that makes software for smart lighting systems. Its core product is a Bluetooth mesh networking platform that allows lights in buildings — like offices, warehouses, and hotels — to communicate with each other wirelessly and be controlled automatically. Silvair is one of the few companies focused specifically on Bluetooth mesh software for commercial lighting, and it played a key role in developing the global Bluetooth mesh standard.

The company earns money by licensing its software and firmware to lighting manufacturers, who embed it into their products. Silvair operates primarily in Europe and North America, and its main competitive advantage is its deep technical expertise in the Bluetooth mesh standard, which creates a barrier for new competitors to replicate quickly. However, with a very small market cap and low return on invested capital, the company's main challenge is scaling its licensing revenue fast enough to sustain long-term profitability as the smart building market slowly matures.

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

-30.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-290.8% YoY

YoY Growth Rate

Earnings declining

Insider Activity

44.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~20 months

1M PLN cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Adequate runway but may need to raise capital within 2 years

Revenue declining

Silvair's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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

-21.1%

Thin — -21.1% gross margin

Profit after running costs

Operating Margin

-41.3%

Losing money on operations — -41.3%

Return on the money invested

ROCE

3.2%

Weak — 3.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+29.3%

Fast-growing sales (+29.3% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

15972%

Turns 15972% of profit into real cash

Spare cash per sale

FCF Margin

-11.8%

Burning cash (-11.8%)

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

0.54

Conservative — low debt load (0.54)

Covers its interest

Interest Cover

1.29x

Dangerous — barely covers interest (1.3x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

N/A

no trend

Data not available

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial