Adslot Ltd (ADS) AI Stock Analysis

• Market Cap: AU$11.72M
• Dividend Yield: N/A
• Average Volume (3M): N/A
• Price to Earnings (P/E): ―
• Beta (1Y): 0.39
• Revenue Growth: -33.66%
• EPS Growth: 75.76%
• Country: AU
• Employees: 1
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): 0.00
• Shares Outstanding: 5,860,723,000
• 10 Day Avg. Volume: N/A
• 30 Day Avg. Volume: N/A
• PEG Ratio: 0.02
• Price to Book (P/B): -1.57
• Price to Sales (P/S): 0.91
• P/FCF Ratio: -1.59
• 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: 43 Neutral
• Price Target: ―

The score is primarily held down by weak financial performance—shrinking revenue, persistent large losses, ongoing cash burn, and negative (worsening) equity—partly offset by low debt levels and improved gross margin. Technical and valuation inputs were not provided, limiting confirmation from price momentum and valuation context.

Positive Factors

Strategic Partnerships

Strategic partnerships with major companies enhance Adslot's market position and expand its reach, potentially driving sustainable growth.

Platform Expansion

The expansion of the StoreFront platform with global publishers indicates growing adoption and potential for increased revenue streams.

Improved Gross Margin

Improved gross margins suggest better cost management and pricing power, enhancing profitability potential over the long term.

Negative Factors

Negative Equity

Negative equity indicates accumulated losses and limits financial flexibility, posing a risk to long-term solvency and growth.

Consistent Cash Burn

Persistent cash burn necessitates reliance on external funding, which could hinder operational sustainability and growth initiatives.

Shrinking Revenue

Declining revenue signals challenges in market demand and scaling, potentially impacting long-term business viability and growth.

Adslot Ltd Business Overview & Revenue Model

Company Description

Adslot Limited, together with its subsidiaries, engages in the trading technology and services businesses in Australia, Europe, the Middle East, Africa, the Americas, and internationally. It offers Adslot Media, a media trading technology platform that enables advertisers and publishers to trade premium display advertising directly; and Symphony, a workflow automation technology for media buying agencies. The company also provides Webfirm, a digital marketing service that includes website design, hosting, search engine optimization, search engine marketing, and social media marketing services. It serves agencies and brands, publishers, and integrated tech partners. The company was formerly known as Webfirm Group Limited and changed its name to Adslot Limited in December 2012. Adslot Limited was incorporated in 1975 and is headquartered in Melbourne, Australia.

How the Company Makes Money

Adslot generates revenue primarily through its software-as-a-service (SaaS) model, where clients subscribe to access its advertising platform. Key revenue streams include subscription fees from advertisers and publishers, transaction fees for ads sold through its platform, and data analytics services that provide insights into campaign performance. Significant partnerships with media agencies and publishers enhance its market reach and contribute to its earnings by facilitating a broader range of advertising opportunities.

Adslot Ltd Financial Statement Overview

Summary

Overall financial quality is weak: revenue fell sharply in FY2025 (-18.7% YoY), losses remain deep (net margin ~-66%), operating/free cash flow are consistently negative with operating cash burn worsening in FY2025, and equity is negative and deteriorating further—despite low absolute debt and an improved (now positive) gross margin.

Income Statement

Operating performance remains weak despite some improvement. Revenue declined sharply in FY2025 (-18.7% YoY) after relatively small declines in prior years, pointing to ongoing demand/scale pressure. Profitability is still deeply negative (FY2025 net margin ~-66%), though markedly better than FY2024 (net margin ~-127%) and FY2023 (~-135%). A key positive is the swing to strong positive gross margin in FY2025 (~80%) versus negative gross margins in FY2020–FY2024, but the company continues to run sizable operating losses (negative EBIT/EBITDA margins), indicating costs remain too high relative to the revenue base.

Balance Sheet

Leverage is low in absolute terms (FY2025 total debt ~A$0.2M), which reduces near-term balance sheet risk. However, the major concern is solvency: stockholders’ equity is negative in FY2024 and deteriorated further in FY2025 (from about -A$1.6M to about -A$3.3M), signaling accumulated losses have eroded the capital base. Total assets are relatively stable (~A$6.7B in FY2025 vs ~A$7.1B in FY2024), but the negative equity profile materially constrains financial flexibility and can increase refinancing/going-concern pressure if losses persist.

Cash Flow

Cash generation is consistently weak with ongoing cash burn. Operating cash flow is negative across all presented years and worsened materially in FY2025 (about -A$3.2M vs about -A$0.7M in FY2024). Free cash flow is also negative in every year, and while FY2025 free cash flow improved versus FY2024 (less negative than the prior year), it still reflects a business that is not self-funding. Overall, the cash flow profile suggests continued reliance on external funding or balance sheet liquidity to sustain operations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.61M	5.60M	8.44M	8.92M	8.99M	8.22M
Gross Profit	-1.57M	4.50M	-2.73M	-3.29M	-296.00K	-4.37M
EBITDA	-3.61M	-3.44M	-7.51M	-8.36M	-1.01M	-2.42M
Net Income	-3.70M	-3.70M	-10.70M	-12.08M	-4.65M	-6.28M
Balance Sheet
Total Assets	6.66M	6.66M	7.09M	15.01M	25.20M	25.59M
Cash, Cash Equivalents and Short-Term Investments	1.53M	1.53M	3.15M	2.87M	5.95M	6.83M
Total Debt	200.05K	200.05K	608.20K	1.67M	2.16M	1.93M
Total Liabilities	9.92M	9.92M	8.66M	9.06M	8.57M	8.32M
Stockholders Equity	-3.26M	-3.26M	-1.56M	5.95M	16.64M	17.28M
Cash Flow
Free Cash Flow	-3.22M	-3.22M	-3.37M	-4.80M	-5.80M	-3.41M
Operating Cash Flow	-3.22M	-3.22M	-658.89K	-1.60M	-2.29M	-293.19K
Investing Cash Flow	645.16K	645.16K	-2.00M	-2.28M	-1.62M	-1.78M
Financing Cash Flow	982.87K	982.87K	2.95M	519.45K	2.83M	2.97M

Adslot Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
AMX	48 Neutral	AU$26.12M	-3.90	-31.01%	―	-3.43%	-40.65%
DWG	48 Neutral	AU$15.46M	-1.37	-684.77%	―	8.64%	33.88%
TAL	47 Neutral	AU$26.93M	-9.75	-60.87%	―	―	―
ADS	43 Neutral	AU$11.72M	―	―	―	-33.66%	75.76%

Adslot Ltd Corporate Events

Adslot Updates Interim CEO Contract with Revised Terms

Adslot Ltd announced changes to the contractor agreement of its Interim CEO, including an extension of the term and an adjustment in compensation from $200,000 to $218,000 per annum, paid partly in shares and options. The company acknowledged a delay in disclosure due to administrative oversight and has implemented additional measures to ensure adherence to ASX compliance rules in the future.

Adslot Ltd Reports Growth and Strategic Progress in Q1 FY26

Adslot Ltd has reported significant progress in its operations for the first quarter of fiscal year 2026, following a strategic turnaround involving cost management and restructuring. The company has seen growth in its customer pipeline and is activating new synergistic opportunities. The StoreFront platform, launched in late 2024, is expanding its reach with global publishers like Rakuten Viber and Vox Media, showing month-on-month growth. Meanwhile, the Marketplace platform is enhancing its offerings with exclusive high-demand inventory and maintaining high usage levels with key clients like Mobkoi, indicating strong performance in the upcoming quarters.

Adslot Ltd Announces Director’s Interest Change

Adslot Ltd announced a change in the director’s interest, specifically regarding Andrew Dyer’s indirect holdings in the company. The change involved the acquisition of ordinary shares and options following shareholder approval at the 2025 AGM, reflecting a strategic move to align director interests with company performance. This development could potentially impact the company’s governance and stakeholder confidence, as it demonstrates a commitment to involving key personnel in the company’s growth trajectory.

Adslot Ltd Director Increases Shareholding

Adslot Ltd has announced a change in the director’s interest, with Sarah Morgan acquiring an additional 9,873,710 ordinary shares under the Director Fees Plan, bringing her total to 126,336,536 shares. This acquisition, approved at the 2024 AGM, reflects the company’s ongoing commitment to aligning director interests with shareholder value, potentially impacting its governance and market perception positively.

Adslot Ltd Director Increases Shareholding Under Fees Plan

Adslot Ltd has announced a change in the director’s interest, with Mr. Adrian Giles acquiring 8,430,710 fully paid ordinary shares under the Director Fees Plan. This acquisition, approved at the 2024 AGM, reflects the company’s ongoing commitment to aligning director interests with shareholder value, potentially impacting its governance and stakeholder engagement positively.

Adslot Ltd Issues Shares Under Director Fees Plan

Adslot Ltd has issued over 57 million fully paid ordinary shares to its directors as part of a Director Fees Plan, following approval at the 2024 Annual General Meeting. This move, executed without investor disclosure under specific provisions of the Corporations Act, signifies adherence to regulatory requirements and reflects the company’s ongoing commitment to transparent governance practices.

Adslot Ltd Issues New Securities Under Director Fees Plan

Adslot Ltd has announced the issuance of 57,263,670 ordinary fully paid securities as part of its Director Fees Plan, an employee incentive scheme for the quarter ending September 30, 2025. This move, approved at the 2024 Annual General Meeting, reflects the company’s ongoing commitment to aligning employee incentives with shareholder interests, potentially impacting its operational dynamics and market positioning.

Adslot Ltd Issues 250 Million Unquoted Options

Adslot Ltd has announced the issuance of 250 million unquoted options with an exercise price of $0.001, expiring 30 months from the date of issue. This move is part of a previously announced transaction and is not intended to be quoted on the ASX, potentially impacting the company’s capital structure and offering strategic flexibility in its financial operations.

Adslot Ltd Issues 25 Million Shares in Strategic Move

Adslot Ltd has issued 25 million fully paid ordinary shares at an issue price of $0.001 per share to its executive chairman, Andrew Dyer, as part of a private placement approved at the 2025 Annual General Meeting. This move is part of the company’s strategic financial maneuvers, potentially impacting its market positioning and shareholder value.

Adslot Ltd Announces Quotation of 25 Million Securities on ASX

Adslot Ltd has announced the application for the quotation of 25 million ordinary fully paid securities on the Australian Securities Exchange (ASX). This move is part of a transaction previously announced to the market, indicating a strategic step in the company’s financial operations. The issuance of these securities could potentially enhance Adslot’s market presence and provide additional capital for its business endeavors, impacting stakeholders by possibly increasing the liquidity and marketability of its shares.

Adslot Ltd Updates Director’s Securities Holdings

Adslot Ltd announced a change in the director’s interest, specifically regarding Andrew Dyer, whose indirect interest in securities has been updated. On October 11, 2025, 2,500,000 unlisted options held indirectly through Securities Markets Capital Pty Ltd lapsed, leaving him with 3,200,000 unlisted options exercisable at a different rate. This update reflects a shift in the director’s investment strategy and could impact the company’s governance and investor perceptions.

Adslot Ltd Announces Proposed Issue of 95 Million Unlisted Options

Adslot Ltd has announced a proposed issue of 95,000,000 unlisted options as part of a placement or other type of issue, with the proposed issue date set for October 15, 2025. This move is part of the company’s strategic financial operations and could potentially impact its market positioning by increasing its capital base, which may influence stakeholder interests and market perceptions.