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

Adherium Ltd. (ADR) AI Stock Analysis

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AU

Adherium Ltd.

(Sydney:ADR)

Rating:47Neutral
Price Target:
Adherium Ltd. is facing substantial financial challenges with declining revenues, negative profitability, and cash flow issues. The technical analysis suggests a bearish trend with the stock trading below key moving averages. Valuation metrics are unfavorable, with a negative P/E ratio and no dividend yield. These factors collectively result in a low overall stock score, indicating potential risks for investors.

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 Ltd. generates revenue through the sale of its smart inhaler sensors and the associated digital health platform. The company's revenue model primarily involves direct sales to healthcare providers, pharmaceutical companies, and other stakeholders in the healthcare ecosystem. Additionally, Adherium may engage in partnerships or collaborations with pharmaceutical companies to integrate its technology into broader disease management programs, potentially creating additional revenue streams. The company's earnings are influenced by the adoption of its technology in clinical settings and the ongoing need for effective management of chronic respiratory diseases.

Adherium Ltd. Financial Statement Overview

Summary
Adherium Ltd. faces significant financial challenges, with negative profitability and cash flow metrics. Despite a low debt burden, the company struggles with declining revenues, negative margins, and cash flow issues. Without a clear path to improve operational efficiency and revenue growth, financial sustainability remains a concern.
Income Statement
45
Neutral
Adherium Ltd. has experienced declining total revenue over the past few years, with a significant drop from 2023 to 2024. The company has persistently negative net margins, with a net loss for each year observed. Gross profit margins have been negative, indicating cost management issues. Moreover, EBIT and EBITDA margins are also negative, reflecting operational challenges.
Balance Sheet
50
Neutral
The company's debt-to-equity ratio is low, suggesting limited reliance on debt financing, which is a positive aspect. However, stockholders' equity has been decreasing over the years, raising concerns about financial stability. The equity ratio indicates that a significant portion of the company's assets is financed by equity, but the declining total assets and stockholders' equity are concerning.
Cash Flow
40
Negative
Adherium Ltd. has consistently negative free cash flow, with increasing negative operating cash flows year-on-year. The operating cash flow to net income ratio is unfavorable due to persistent losses. Although the company has had some financing inflows, the cash burn from operations and capital expenditures is worrying.
Breakdown
TTMJun 2024Jun 2023Jun 2022Jun 2021Jun 2020
Income StatementTotal Revenue
964.13K840.98K3.19M529.00K401.00K2.22M
Gross Profit
-246.95K267.70K1.69M-690.00K-789.00K677.00K
EBIT
-12.53M-12.09M-11.91M-12.84M-12.37M-8.92M
EBITDA
-12.44M-11.56M-9.91M-12.65M-12.74M-8.46M
Net Income Common Stockholders
-11.33M-10.22M-9.86M-10.04M-15.04M-11.40M
Balance SheetCash, Cash Equivalents and Short-Term Investments
387.21K6.20M9.08M5.28M15.18M4.58M
Total Assets
4.87M9.89M12.68M8.53M17.04M6.72M
Total Debt
752.96K93.20K44.00K85.00K0.000.00
Net Debt
365.75K-6.10M-9.03M-5.20M-15.18M-4.58M
Total Liabilities
3.46M3.41M3.47M3.00M3.00M3.33M
Stockholders Equity
1.41M6.48M9.21M5.54M14.04M3.38M
Cash FlowFree Cash Flow
-11.18M-10.61M-9.32M-9.89M-11.30M-7.46M
Operating Cash Flow
-11.17M-10.61M-9.28M-9.61M-11.27M-7.32M
Investing Cash Flow
-14.70K-37.00-41.00K-279.00K-29.00K-138.00K
Financing Cash Flow
8.40M7.73M13.07M0.0021.90M11.34M

Adherium Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (54)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
AURHT
61
Neutral
AU$18.38M140.00-3.11%89.13%69.57%
AUNSB
54
Neutral
AU$8.10M6.8326.99%51.85%
54
Neutral
$5.31B3.28-45.10%2.80%16.76%0.02%
AUPYC
53
Neutral
AU$699.91M-112.97%-84.82%
AUBOT
53
Neutral
AU$647.09M-56.99%10.76%-195.89%
AUCSX
51
Neutral
AU$31.68M-7.59%28.89%72.95%
AUADR
47
Neutral
AU$5.31M-375.15%-59.01%17.06%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:ADR
Adherium Ltd.
0.01
-0.01
-50.00%
AU:PYC
PYC Therapeutics Limited
1.20
0.16
15.38%
AU:RHT
Resonance Health Ltd
0.04
-0.02
-33.33%
AU:CSX
CleanSpace Holdings Ltd.
0.40
0.13
48.15%
AU:NSB
Neuroscientific Biopharmaceuticals Ltd.
0.06
0.02
50.00%
AU:BOT
Botanix Pharmaceuticals Limited
0.33
0.05
17.86%

Adherium Ltd. Corporate Events

Adherium Issues Stock Appreciation Rights to Employees
May 28, 2025

Adherium Limited announced the issuance of 2,000,000 stock appreciation rights under an employee incentive scheme. These unquoted securities are subject to transfer restrictions and are not listed on the ASX until the restrictions are lifted, reflecting the company’s strategy to incentivize and retain key personnel.

Adherium Limited Announces Director’s Acquisition of Convertible Notes
May 22, 2025

Adherium Limited announced a change in the director’s interest, with George Baran acquiring 1,200,000 convertible notes. This acquisition follows shareholder approval and reflects ongoing strategic financial maneuvers within the company, potentially impacting its market positioning and stakeholder interests.

Adherium Ltd. Issues 2.2 Million Convertible Notes
May 20, 2025

Adherium Ltd. announced the issuance of 2,225,000 convertible notes, which are unquoted equity securities. This move is part of the company’s financial strategy to enhance its capital structure, potentially impacting its market position by providing additional resources for growth and development in the digital health sector.

Adherium Limited Announces Convertible Notes Issuance
May 19, 2025

Adherium Limited has announced a proposed issuance of 900,000 convertible notes, scheduled for November 10, 2025. This move is part of a strategic effort to raise capital, potentially impacting the company’s financial structure and market positioning, and offering new opportunities for stakeholders.

Adherium Secures $900,000 to Boost U.S. Expansion of Smartinhaler Platform
May 19, 2025

Adherium Limited has announced a successful capital raise of $900,000 through the issuance of convertible notes, supported by Phillip Asset Management Limited and Trudell Medical Limited. The funds will be used to further the roll-out of the Hailie® Smartinhaler® platform in the U.S. and for general working capital, potentially strengthening Adherium’s market position in digital health solutions for respiratory care.

Adherium Ltd. Appoints New Director with Significant Stock Interest
May 8, 2025

Adherium Ltd. has announced the appointment of Keven Gessner as a director, effective May 8, 2025. As part of his role, Gessner holds 2,000,000 Stock Appreciation Rights, indicating a significant interest in the company’s future performance. This appointment is a strategic move that could influence Adherium’s market positioning and operational strategies, potentially impacting stakeholders positively by aligning leadership with shareholder interests.

Adherium Limited Announces Director Change
May 8, 2025

Adherium Limited has announced that William Hunter has ceased to be a director of the company as of May 8, 2025. The notice details Hunter’s interests in the company’s securities, which include 174,170 fully paid ordinary shares. This change in directorship may impact the company’s governance and strategic direction, but specific implications for stakeholders or the company’s operations are not detailed in the announcement.

Adherium Strengthens Leadership Team to Boost US Market Expansion
May 8, 2025

Adherium Limited has announced key leadership appointments to bolster its strategic marketing and sales efforts for the Hailie® Smartinhaler® platform in the US. The appointments include Keven Gessner as Non-Executive Director, Jason Hochman as Head of US Commercial/GTM, and David Haddad as Head of Product. These strategic hires aim to enhance Adherium’s market presence and accelerate its commercial growth in the US healthcare market, leveraging their extensive experience in digital health and respiratory care. The company’s recent capital raise of $2.6 million further supports its commitment to expanding its operations and driving the adoption of its technology.

Adherium Limited Reports Over 100% Growth in US Commercial Patients and Expands Product Line
Apr 30, 2025

Adherium Limited has reported significant growth in its US commercial patient base, with a more than 100% increase in the last quarter, reaffirming its target of 9,000 remote patient monitoring patients by the end of 2025. The company has expanded its US commercialization team and released a new Hailie Smartinhaler product compatible with AstraZeneca’s AIRSUPRA and Breztri Aerosphere, enhancing its market position and offering significant opportunities for growth. Strategic partnerships with Group Purchasing Organizations and other healthcare providers are expected to streamline adoption and drive further expansion, while the integration of AI-driven algorithms aims to improve patient adherence and care management.

Adherium’s Strategic Financial Moves Approved at Extraordinary General Meeting
Apr 29, 2025

Adherium Limited announced that all resolutions at their Extraordinary General Meeting were passed. These resolutions included the approval and ratification of the issuance of convertible notes to various entities, indicating a strategic move to enhance financial flexibility and potentially expand their market presence.

Adherium Announces Cessation of Securities
Apr 7, 2025

Adherium Limited announced the cessation of certain securities, including 394,753 ordinary fully paid shares and 3,600,447 stock appreciation rights, due to unmet conditions and the expiry of options. This announcement may impact the company’s capital structure and could influence investor perceptions regarding the company’s financial strategies and future growth prospects.

Adherium Ltd. Issues 75 Million Unquoted Convertible Notes
Mar 19, 2025

Adherium Ltd. has announced the issuance of 75,000,000 unquoted convertible notes as part of a previously announced transaction. This move is expected to impact the company’s financial structure and could influence its market positioning by providing additional capital for operations and strategic initiatives.

Adherium Limited Announces Proposed Securities Issue
Mar 18, 2025

Adherium Limited has announced a proposed issue of securities, including 445,000,000 convertible notes and 222,500,000 unlisted options exercisable at $0.02, with an expiration of three years from the issue date. This move is part of a placement or other type of issue, with the proposed issue date set for April 30, 2025. The issuance aims to enhance Adherium’s financial resources, potentially impacting its market positioning and offering new opportunities for stakeholders.

Adherium Ltd. Announces Proposed Securities Issue to Boost Capital
Mar 18, 2025

Adherium Ltd. announced a proposed issue of securities, including 75 million convertible notes and 37.5 million unlisted options. This move is part of a strategic effort to raise capital, potentially impacting the company’s financial position and market operations by providing resources for growth and development.

Adherium Ltd. Aims to Transform Respiratory Care with Data-Driven Solutions
Mar 18, 2025

Adherium Ltd. has released a presentation highlighting its strategic focus on revolutionizing respiratory care through intelligent data. The announcement outlines potential risks and uncertainties associated with product development, regulatory approvals, and market penetration, emphasizing the challenges faced by companies in the medical device sector. Despite these challenges, Adherium remains committed to achieving its objectives and milestones, although there is no guarantee of meeting forecasts or realizing forward-looking statements.

Adherium Secures $2.6 Million to Expand Hailie® Smartinhaler® in US Market
Mar 18, 2025

Adherium Limited has secured $2.6 million through a convertible note capital raise, with significant contributions from Bioscience Managers and Trudell Medical International. The funds will support the expansion of Adherium’s Hailie® Smartinhaler® platform in the United States, aiming to onboard 1,800 active patients in the next six months and 9,000 by the end of 2025. This financial backing is seen as a positive indicator of the company’s growth prospects and its strategic focus on the US market, where it plans to capitalize on new reimbursement codes and advanced AI capabilities.

JPMorgan Chase & Co. Ceases to be Substantial Holder in Adherium Ltd.
Mar 17, 2025

Adherium Ltd. has announced that JPMorgan Chase & Co. and its affiliates have ceased to be substantial holders in the company as of March 13, 2025. This change in substantial holding, which involved the purchase and sale of 14,000,000 ordinary shares by J.P. Morgan Securities Australia Limited, may impact Adherium’s shareholder structure and influence its market perception.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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.