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Adherium Ltd. (AU:ADR)
ASX:ADR
Australian Market

Adherium Ltd. (ADR) AI Stock Analysis

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AU:ADR

Adherium Ltd.

(Sydney:ADR)

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Underperform 37 (OpenAI - 4o)
Rating:37Underperform
Price Target:
<AU$0.01
▼(-10.00% Downside)
Adherium Ltd. is currently facing severe financial difficulties, with negative growth in revenue, ongoing losses, and negative equity. The lack of technical indicators and valuation metrics further compounds the challenges, making the stock unattractive at this time. Strategic interventions are necessary to improve the company's financial health and investor appeal.
Positive Factors
Innovative Product Offering
Adherium's focus on smart inhaler technology positions it as a leader in digital health solutions, enhancing medication adherence and treatment outcomes, which is critical in the growing chronic respiratory disease market.
Strategic Partnerships
Partnerships with pharmaceutical companies and healthcare providers enhance Adherium's market reach and integration into treatment regimens, potentially leading to stable revenue streams and growth opportunities.
Healthcare Ecosystem Integration
By focusing on improving patient adherence and outcomes, Adherium strengthens its role in the healthcare ecosystem, which can attract increased funding and investment, supporting long-term business sustainability.
Negative Factors
Negative Revenue Growth
Declining revenue growth indicates challenges in market expansion and product adoption, which could hinder long-term profitability and competitive positioning in the medical devices industry.
Financial Instability
Negative equity and solvency risks highlight financial instability, limiting Adherium's ability to invest in growth initiatives and potentially affecting its long-term viability.
Weak Cash Flow Generation
Deteriorating cash generation capabilities suggest operational inefficiencies and insufficient cash flow to support ongoing operations, posing a risk to Adherium's financial health and sustainability.

Adherium Ltd. (ADR) vs. iShares MSCI Australia ETF (EWA)

Adherium Ltd. Business Overview & Revenue Model

Company DescriptionAdherium Limited develops, manufactures, and supplies digital health technologies that address sub-optimal medication use in chronic diseases in New Zealand, Australia, Europe, North America, and Asia. The company offers Hailie, an asthma and chronic obstructive pulmonary disease medication adherence solution for patients with chronic respiratory diseases. It also provides Bluetooth enabled Hailie sensors, which wrap around a patient's inhalers and offers real-time feedback to patients; Hailie app; and Hailie portal. The company was incorporated in 2001 and is based in Auckland, New Zealand.
How the Company Makes MoneyAdherium generates revenue primarily through the sale of its smart inhaler devices and the associated software services. The company partners with pharmaceutical companies and healthcare providers to integrate its technology into their treatment regimens, often receiving fees for device sales, subscription services for data analytics, and ongoing support. Additionally, Adherium may engage in collaborations and partnerships that can include milestone payments and royalties, contributing to its revenue streams. By focusing on improving patient adherence and outcomes, Adherium positions itself as a valuable partner in the healthcare ecosystem, which can lead to increased funding and investment opportunities.

Adherium Ltd. Financial Statement Overview

Summary
Adherium Ltd. is facing significant financial challenges across all verticals. The income statement reflects declining revenues and persistent losses, while the balance sheet shows negative equity and potential solvency risks. Cash flow metrics indicate insufficient cash generation to support operations. The company needs strategic interventions to stabilize its financial position and improve profitability.
Income Statement
25
Negative
Adherium Ltd. has faced significant challenges in its income statement. The company has experienced a decline in revenue growth, with a negative growth rate of -15.24% in the latest year. Profitability metrics are concerning, with a negative net profit margin of -15.51% and EBIT margin of -15.34%. These figures indicate ongoing losses and operational inefficiencies.
Balance Sheet
30
Negative
The balance sheet shows a negative stockholders' equity, resulting in a negative debt-to-equity ratio of -0.66, which is a significant risk factor. The return on equity is positive at 2.66%, but this is due to the negative equity. The equity ratio is also negative, highlighting financial instability and potential solvency issues.
Cash Flow
35
Negative
Cash flow analysis reveals a negative free cash flow growth rate of -10.27%, indicating deteriorating cash generation capabilities. The operating cash flow to net income ratio is -1.21, suggesting that cash flow from operations is not sufficient to cover net losses. The free cash flow to net income ratio is slightly positive at 1.00, but overall cash flow health is weak.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue817.24K817.24K840.98K3.19M529.00K401.00K
Gross Profit111.37K111.37K267.70K1.69M-690.00K-789.00K
EBITDA-12.44M-12.44M-11.56M-11.50M-12.65M-13.03M
Net Income-12.68M-12.68M-10.22M-9.86M-10.04M-15.04M
Balance Sheet
Total Assets3.52M3.52M9.89M12.68M8.53M17.04M
Cash, Cash Equivalents and Short-Term Investments43.26K43.26K6.20M9.08M5.28M15.18M
Total Debt3.12M3.12M93.20K44.00K85.00K0.00
Total Liabilities8.28M8.28M3.41M3.47M3.00M3.00M
Stockholders Equity-4.76M-4.76M6.48M9.21M5.54M14.04M
Cash Flow
Free Cash Flow-10.03M-10.03M-10.61M-9.32M-9.89M-11.30M
Operating Cash Flow-9.98M-9.98M-10.61M-9.28M-9.61M-11.27M
Investing Cash Flow-48.19K-48.19K-37.00-41.00K-279.00K-29.00K
Financing Cash Flow3.87M3.87M7.73M13.07M0.0021.90M

Adherium Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
53
Neutral
AU$29.98M-4.81-58.27%-7.20%28.70%
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
51
Neutral
AU$27.04M-2.88-103.74%14.84%39.64%
45
Neutral
AU$38.53M-6.92-513.22%-34.06%75.47%
39
Underperform
AU$3.12M-0.91-218.52%-30.80%-38.95%
38
Underperform
AU$5.63M-3.71-55.00%
37
Underperform
AU$12.56M-0.64-1476.79%-2.82%32.47%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:ADR
Adherium Ltd.
0.01
-0.01
-50.00%
AU:UCM
Uscom Limited
0.01
-0.02
-66.67%
AU:HMD
HeraMED Ltd.
0.04
0.02
80.00%
AU:AT1
Atomo Diagnostics Ltd.
0.04
0.02
100.00%
AU:IRX
InhaleRx Limited
0.02
>-0.01
-33.33%
AU:CBL
Control Bionics Ltd.
0.07
0.01
16.67%

Adherium Ltd. Corporate Events

Adherium Partners with Allergy Partners to Expand Hailie® Smartinhaler® Deployment
Nov 28, 2025

Adherium Limited has announced a partnership with Allergy Partners to deploy its Hailie® Smartinhaler® technology across more than 100 clinics. This collaboration aims to enhance respiratory care on a large scale in the US and potentially beyond, showcasing Adherium’s commitment to improving healthcare outcomes through digital solutions.

Adherium Issues New Shares to Strengthen Market Position
Nov 18, 2025

Adherium Limited has announced the issuance of 71,005,701 fully paid ordinary shares without disclosure under the Corporations Act 2001. The company has complied with all relevant legal provisions and there is no excluded information that needs to be disclosed, indicating a transparent and compliant operation. This move could potentially enhance Adherium’s market positioning by strengthening its financial base, allowing further development and distribution of its digital health solutions.

Adherium Ltd. Announces Quotation of New Securities on ASX
Nov 18, 2025

Adherium Ltd. has announced the quotation of 71,005,701 fully paid ordinary securities on the Australian Securities Exchange (ASX), effective November 14, 2025. This move is part of the company’s strategy to enhance its capital structure, potentially strengthening its market position in the digital health sector and providing additional resources to support its growth and innovation initiatives.

Adherium Limited’s AGM Results: All Resolutions Approved
Nov 18, 2025

Adherium Limited announced the successful outcome of its Annual General Meeting, where all resolutions, including a special resolution, were approved by shareholders. This development signifies strong shareholder support and could enhance Adherium’s operational strategies and market positioning, potentially benefiting stakeholders by reinforcing confidence in the company’s governance and future initiatives.

Adherium Ltd. Navigates Challenges in Respiratory Care Market
Nov 17, 2025

Adherium Ltd. has released a presentation outlining its position in the respiratory care market. The announcement highlights the company’s strategic focus on developing medical devices, while acknowledging the inherent risks and uncertainties in the industry, such as regulatory approvals and market penetration. Stakeholders are advised to consider these factors when evaluating the company’s future performance.

Adherium Ltd. Announces Proposed Issue of 15 Million Securities
Nov 17, 2025

Adherium Ltd. announced a proposed issue of 15 million fully paid ordinary securities, set to be issued on November 25, 2025. This strategic move is likely aimed at raising capital to support the company’s ongoing operations and growth initiatives, potentially enhancing its market position and providing value to its stakeholders.

Adherium Engages Stralis Capital for Strategic Advisory and Equity Raising
Nov 17, 2025

Adherium Limited has engaged Stralis Capital Partners as its strategic and capital markets advisor to assist with capital management initiatives, including early exercise of options and potential equity capital raising. This partnership aims to enhance Adherium’s capital markets strategy by providing specialist advice and execution capability, with Stralis Capital acting as lead manager for any equity raising activities over the next six months. As compensation, Stralis Capital will receive 15,000,000 fully paid ordinary shares, valued at $75,000, unless shareholder approval necessitates a cash fee. This engagement supports Adherium’s efforts to strengthen its financial positioning and operational capabilities in the digital health sector.

Adherium Raises $2.47 Million Through Share Issuance
Nov 11, 2025

Adherium Limited has successfully raised $2,472,505.205 through the issuance of fully paid ordinary shares following the exercise of 494,501,041 options. This capital raise, conducted without disclosure to investors under specific sections of the Corporations Act, indicates the company’s compliance with relevant legislative provisions and its ongoing commitment to enhancing its financial position. The move is expected to bolster Adherium’s operations and strengthen its market position in the digital health and connected respiratory device industry.

Adherium Announces Director’s Interest Change
Nov 11, 2025

Adherium Limited has announced a change in the director’s interest, specifically involving George Baran, who has increased his indirect interest in the company. This change involves the conversion of options into fully paid ordinary shares and the issuance of bonus options, reflecting a strategic move that could potentially strengthen the company’s market position and stakeholder confidence.

Adherium Ltd. Announces Quotation of Over 494 Million Securities on ASX
Nov 11, 2025

Adherium Ltd. has announced the quotation of a significant number of ordinary fully paid securities on the Australian Securities Exchange (ASX), totaling over 494 million shares. This move is likely to enhance the company’s capital structure and potentially strengthen its market position, offering new opportunities for growth and development in the digital health sector.

Adherium Ltd. Issues Over 494 Million Unquoted Equity Securities
Nov 11, 2025

Adherium Ltd. has announced the issuance of a significant number of unquoted equity securities, totaling over 494 million options set to expire in November 2026. This strategic move is part of previously announced transactions, potentially impacting the company’s financial structure and market positioning by bolstering its capital resources.

Adherium Issues New Shares to Strengthen Market Position
Oct 31, 2025

Adherium Limited has issued 62,666,668 fully paid ordinary shares without disclosure under Part 6D.2 of the Corporations Act 2001. The company confirms compliance with relevant provisions of the Corporations Act and states that no excluded information needs to be disclosed. This announcement reflects Adherium’s ongoing efforts to enhance its financial position and operational capabilities, potentially impacting its market presence and stakeholder interests.

Adherium Ltd Announces Director’s Change in Interest
Oct 31, 2025

Adherium Ltd has announced a change in the interest of its director, Louis Panaccio, involving the conversion of unlisted options into fully paid ordinary shares and the issuance of bonus options. This change reflects a strategic move in the company’s financial structuring, potentially impacting its market positioning and shareholder value by increasing the director’s stake in the company.

Adherium Ltd. Expands Market Presence with New Securities Quotation
Oct 31, 2025

Adherium Ltd. has announced the quotation of 62,666,668 ordinary fully paid securities on the ASX, following the exercise of options and conversion of other convertible securities. This move is expected to bolster the company’s market presence and provide additional capital for its ongoing operations, potentially impacting its industry positioning and offering new opportunities for stakeholders.

Adherium Limited Issues Over 62 Million Unquoted Equity Securities
Oct 31, 2025

Adherium Limited has announced the issuance of a significant number of unquoted equity securities, totaling over 62 million options set to expire in November 2026. This move is part of a previously announced transaction and is not intended to be quoted on the ASX, indicating a strategic decision to bolster the company’s financial positioning and operational capabilities.

Adherium Reports Strong Growth and Groundbreaking Study Results
Oct 31, 2025

Adherium Limited reported a significant 55% increase in device shipments for the quarter ending September 2025, driven by the launch of a new patient education call center and strong partnerships. The company also highlighted groundbreaking results from the iCARE study, demonstrating high adherence rates and validating the Hailie® platform’s value for healthcare systems. These developments are expected to strengthen Adherium’s market position and drive future growth.

Adherium Ltd. Issues Over One Million Unquoted Equity Securities
Oct 27, 2025

Adherium Ltd. has announced the issuance of over one million unquoted equity securities, specifically options set to expire in November 2026. This move is part of previously announced transactions and reflects the company’s ongoing efforts to enhance its financial structure, potentially impacting its market positioning and stakeholder interests.

Adherium Ltd. Announces Quotation of New Securities on ASX
Oct 27, 2025

Adherium Ltd. has announced the quotation of 1,004,372 ordinary fully paid securities on the Australian Securities Exchange (ASX), effective from October 21, 2025. This move signifies the company’s ongoing efforts to strengthen its financial position and increase its market presence, potentially benefiting stakeholders by enhancing liquidity and investment opportunities.

Adherium Corrects Issued Options Notification
Oct 20, 2025

Adherium Limited announced a correction to a previous notification regarding the number of issued options due to an administrative error. This update, which affects the company’s unquoted equity securities, highlights the importance of accurate reporting and may influence stakeholders’ perception of the company’s operational diligence.

Adherium Introduces Early Exercise Incentive for Optionholders
Oct 10, 2025

Adherium Limited has announced an Early Exercise Incentive Offer for its optionholders, allowing them to receive a bonus option for each existing option exercised by November 15, 2025. This initiative aims to streamline the exercise process in line with the company’s cash-flow management and ensure compliance with voting power thresholds, potentially impacting the company’s financial operations and stakeholder interests.

Adherium Ltd. Navigates Challenges in Respiratory Care Market
Oct 3, 2025

Adherium Ltd. has released a presentation outlining its current position and future prospects in the respiratory care sector. The company acknowledges the inherent risks and uncertainties in its operations, including product development delays and regulatory hurdles, which could impact its market penetration and financial performance. Stakeholders are advised to consider these factors when evaluating the company’s potential growth and success.

Adherium to Host Investor Webinar on Recent Developments
Oct 1, 2025

Adherium Limited announced an investor webinar to be hosted by CEO Dawn Bitz, aimed at updating stakeholders on the company’s recent activities and future outlook. The webinar signifies Adherium’s commitment to transparency and engagement with investors, potentially impacting its market positioning and stakeholder relations positively.

Adherium Expands Market Reach with Innovative Smartinhaler System
Sep 30, 2025

Adherium Limited’s Hailie Smartinhaler system is revolutionizing the management of chronic respiratory conditions by enhancing patient adherence and self-management, ultimately reducing hospital admissions and healthcare costs. The company is actively expanding its sales in the US and other markets by forming strategic partnerships with major healthcare entities, positioning itself as a leader in digital health solutions for respiratory care.

Adherium Issues New Shares in Compliance with Corporations Act
Sep 8, 2025

Adherium Limited announced the issuance of 8,351 fully paid ordinary shares without disclosure to investors under the Corporations Act 2001. The company has complied with relevant legal provisions and confirmed there is no excluded information requiring disclosure, indicating a smooth operational process and adherence to regulatory standards.

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: Oct 19, 2025