Acrux (ACR) AI Stock Analysis

• Market Cap: AU$4.52M
• Dividend Yield: N/A
• Average Volume (3M): 120.95K
• Price to Earnings (P/E): 9.3
• Beta (1Y): -0.13
• Revenue Growth: -76.63%
• EPS Growth: 12.00%
• Country: AU
• Employees: 43
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 0.00
• Shares Outstanding: 410,608,520
• 10 Day Avg. Volume: 76,863
• 30 Day Avg. Volume: 120,955
• PEG Ratio: 0.06
• Price to Book (P/B): 5.51
• Price to Sales (P/S): 4.73
• P/FCF Ratio: -1.03
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: AU$0.01 ▼(-45.00% Downside)
• Action: Reiterated Date: 11/28/25
• Date: Action: Reiterated 11/28/25

Acrux's overall stock score is primarily impacted by its weak financial performance, characterized by persistent losses and high leverage. Technical analysis provides mixed signals, with no strong momentum. Valuation metrics are concerning, with a negative P/E ratio and no dividend yield. These factors collectively suggest a high-risk investment with significant challenges ahead.

Positive Factors

Licensing / Royalty Business Model

Acrux's partner-focused licensing and royalty model reduces the need for a large direct commercial footprint and capital-intensive distribution. That durable structure can preserve cash, scale revenue via third-party commercialization, and limit fixed-cost leverage over the next several months.

Recent revenue and gross margin improvement

Strong revenue growth and a material gross margin improvement indicate improving product economics and execution on partner deals. Sustained top-line momentum and higher gross margin provide a firmer platform for future royalty streams and reduce reliance on one-off payments if trends persist.

Improving free cash flow trend

A rise in free cash flow growth, and a free cash flow to net income ratio near one, suggests cash generation is beginning to align with reported losses. If maintained, this improves liquidity resilience, reduces immediate refinancing pressure, and supports funding for partner-managed programs.

Negative Factors

High leverage

A debt-to-equity ratio above 3x is a durable constraint: it raises refinancing and interest risks, limits strategic optionality, and can pressure covenant metrics. High leverage reduces flexibility to pursue new licensing deals or invest in development should near-term cash needs rise.

Persistent negative profitability

Ongoing net losses and negative operating margins curtail retained earnings and reinvestment capacity. Persistently negative profitability undermines long-term sustainability without recurring milestone/royalty inflows or external funding, and weakens negotiating leverage with partners and creditors.

Negative operating cash flow

Negative operating cash flow indicates core operations consume cash, creating reliance on financing or milestone receipts. That structural cash shortfall elevates liquidity risk, can accelerate funding needs, and makes the business vulnerable if partner payments or milestones are delayed.

Acrux Business Overview & Revenue Model

Company Description

Acrux Limited (ACR) is a biopharmaceutical company based in Australia, specializing in the development and commercialization of innovative drug delivery technologies and pharmaceutical products. The company operates primarily in the healthcare sector, focusing on transdermal delivery systems, which enable medications to be absorbed through the skin. Acrux's core products include various transdermal patches and formulations designed to improve patient adherence and therapeutic outcomes in areas such as hormone replacement therapy and pain management.

How the Company Makes Money

Acrux has historically generated revenue primarily through (1) royalties on net sales of products commercialized by partners that use Acrux-developed formulations and/or intellectual property, (2) upfront payments and milestone payments under licensing and collaboration agreements tied to development, regulatory approvals, and commercial performance, and (3) other licensing-related receipts (such as technology access fees) where applicable. In this model, Acrux typically does not rely solely on building its own large salesforce; instead, it seeks partners with established commercial and regulatory capabilities to market products, while Acrux earns a contracted share of economics (royalties) and contingent payments (milestones). Specific product-level revenue contributions, current material partnerships, and the present mix between royalties, milestones, and any direct product sales are null.

Acrux Financial Statement Overview

Summary

Acrux faces significant financial challenges, characterized by persistent losses, high leverage, and negative cash flows. While there are some improvements in revenue growth and gross profit margin, the company's profitability and cash flow issues pose substantial risks. The high debt-to-equity ratio and negative return on equity further highlight financial instability.

Income Statement

Acrux's income statement reveals significant challenges, with consistently negative net profit margins and EBIT margins over the years. Although there was a notable revenue growth of 48.38% in 2025, the company still reported a substantial net loss. The gross profit margin improved to 100% in 2025, but this is overshadowed by the negative profitability metrics, indicating operational inefficiencies and high costs relative to revenue.

Balance Sheet

The balance sheet shows a concerning debt-to-equity ratio of 3.55 in 2025, indicating high leverage and potential financial risk. Return on equity is negative, reflecting ongoing losses. The equity ratio has decreased, suggesting a weakening financial position. Despite these issues, the company has managed to maintain a positive equity base, which provides some stability.

Cash Flow

Cash flow analysis highlights negative operating and free cash flows, with a slight improvement in free cash flow growth in 2025. The operating cash flow to net income ratio is negative, indicating cash flow challenges. The free cash flow to net income ratio is close to 1, suggesting that cash outflows are closely aligned with net losses, which is a concern for liquidity.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	1.19M	5.09M	8.43M	1.72M	1.34M
Gross Profit	1.19M	1.13M	1.95M	-4.65M	-7.59M
EBITDA	-5.17M	-8.06M	-2.79M	-12.29M	-15.59M
Net Income	-5.95M	-5.80M	-764.00K	-9.83M	-12.63M
Balance Sheet
Total Assets	7.22M	8.96M	14.30M	15.27M	24.20M
Cash, Cash Equivalents and Short-Term Investments	863.00K	2.94M	6.23M	5.83M	15.27M
Total Debt	3.63M	3.70M	2.35M	2.08M	2.23M
Total Liabilities	6.20M	5.69M	5.60M	6.18M	5.73M
Stockholders Equity	1.02M	3.28M	8.70M	9.09M	18.47M
Cash Flow
Free Cash Flow	-5.48M	-4.58M	584.00K	-9.28M	-11.52M
Operating Cash Flow	-5.47M	-4.30M	703.00K	-8.82M	-11.41M
Investing Cash Flow	-5.00K	-276.00K	-119.00K	-465.00K	-102.00K
Financing Cash Flow	3.39M	1.29M	-183.00K	-155.00K	17.58M

Acrux Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.02
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ACR, the sentiment is Negative. The current price of 0.02 is above the 20-day moving average (MA) of 0.01, above the 50-day MA of 0.01, and above the 200-day MA of 0.02, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 31.67 is Neutral, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:ACR.

Acrux Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IXC	48 Neutral	AU$7.52M	-3.15	-17.07%	―	―	71.10%
CHM	45 Neutral	AU$4.42M	-0.15	2844.96%	―	―	46.28%
MEM	45 Neutral	AU$14.24M	-1.59	-91.88%	―	-93.83%	20.00%
1AI	43 Neutral	AU$25.75M	-6.84	-49.25%	―	―	―
ACR	42 Neutral	AU$4.52M	9.33	-211.88%	―	-76.63%	12.00%
NSB	40 Underperform	AU$31.93M	-5.38	-19.10%	―	―	-672.73%

Acrux Corporate Events

Acrux Secures $0.55m Advance on FY26 R&D Tax Incentive to Support HRT Development

Acrux Limited has secured a second advance of $0.55 million against its FY26 R&D Tax Incentive from Radium Capital, covering eligible R&D conducted between 1 October 2025 and 28 February 2026. The funding represents about 80% of the estimated rebate for that four-month period and is obtained through a short-term facility that provides earlier access to tax incentive cash flows, improving alignment with spending.

Following confirmation from the U.S. Food and Drug Administration on the regulatory pathway for Acrux’s Hormone Replacement Therapy program, the company plans to use the funds to support development of its HRT pipeline and manage working capital needs. The terms of this advance are unchanged from the prior FY26 drawdown, underscoring a consistent funding approach that helps sustain R&D momentum and operational flexibility while Acrux progresses key topical pharmaceutical products toward commercialisation.

The most recent analyst rating on (AU:ACR) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Acrux stock, see the AU:ACR Stock Forecast page.

Acrux Performance Rights Lapse After Reaching Expiry

Acrux Limited has notified the market that 910,769 performance rights, trading under the ASX security code ACRAT, have lapsed. The cessation follows the expiry of these rights without being exercised or converted, resulting in a reduction of the company’s outstanding equity-linked securities.

The move slightly simplifies Acrux’s capital structure and may marginally reduce potential future dilution for existing shareholders. While the announcement is procedural, it clarifies the current level of issued capital and the status of incentive-related instruments on the company’s register.

The most recent analyst rating on (AU:ACR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Acrux stock, see the AU:ACR Stock Forecast page.

Acrux Posts Strong Half-Year Profit Rebound Despite Lower Asset Backing

Acrux Limited reported a strong improvement in financial performance for the half-year ended 31 December 2025, with revenues from ordinary activities rising 109% to A$3.57 million. Net profit attributable to members also more than doubled to A$165,000, although no dividends were declared for the period.

Despite the profit rebound, the company’s net tangible asset backing per share fell to 0.21 cents from 0.67 cents a year earlier, indicating a weaker asset base on a per-share basis. The reviewed half-year figures highlight both the company’s accelerating operational momentum and a capital structure that investors will watch closely as Acrux pursues further growth.

The most recent analyst rating on (AU:ACR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Acrux stock, see the AU:ACR Stock Forecast page.

Acrux Lifts Cash and Revenue as It Refocuses Portfolio on Higher-Value Therapies

Acrux reported a solid December 2025 quarter, with customer receipts rising to $1.807 million and cash and cash equivalents increasing to $0.946 million, supported by strong growth in profit-share and royalty income as its U.S. topical generics portfolio completed its first full revenue periods since launch. The company strengthened its portfolio by divesting the underperforming Prilocaine/Lidocaine cream—which generated $0.822 million and removed associated liabilities—while expanding fee-for-service work for external partners, tightening operating costs, and reallocating R&D spending from mature generics toward higher-potential HRT and next-generation drug delivery programs, moves that collectively aim to bolster margins, de-risk returns in a competitive U.S. generics market, and reposition Acrux for longer-term growth.

The most recent analyst rating on (AU:ACR) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Acrux stock, see the AU:ACR Stock Forecast page.