Atomos (AMS) AI Stock Analysis

• Market Cap: AU$40.04M
• Dividend Yield: N/A
• Average Volume (3M): 1.88M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.04
• Revenue Growth: -7.11%
• EPS Growth: 51.02%
• Country: AU
• Employees: 70
• Sector: Technology
• Sector Strength: 88
• Industry: Consumer Electronics
• EPS (TTM): 0.00
• Shares Outstanding: 1,482,812,400
• 10 Day Avg. Volume: 394,524
• 30 Day Avg. Volume: 1,875,930
• PEG Ratio: <0.01
• Price to Book (P/B): -0.39
• Price to Sales (P/S): 0.13
• P/FCF Ratio: -0.33
• 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: 40 Underperform
• Price Target: AU$0.02 ▼(-20.00% Downside)
• Action: Downgraded Date: 02/27/26
• Date: Action: Downgraded 02/27/26

The score is primarily constrained by weak financial performance: declining revenue, large losses, negative equity, and negative operating/free cash flow. Technical indicators add modest downside pressure (negative MACD and below key moving averages). Valuation offers limited support because the negative P/E reflects unprofitable operations and there is no dividend yield data.

Positive Factors

Product niche

Atomos serves a specialized professional and prosumer video niche with hardware and workflow tools. That focused product set creates customer stickiness via integration into production pipelines, supporting durable demand from filmmakers and content creators who value reliable, format-compliant equipment.

Ecosystem revenue

Hardware sales lead to recurring attach-rate purchases (media, power, mounts) and software/services tied to workflows. This multi-product ecosystem provides structural revenue diversification and recurring spend potential that can smooth cycles and increase lifetime customer value over the medium term.

Lean operation

A small headcount suggests a lean cost base and operational flexibility. With 70 employees, management can control fixed costs, iterate on product cycles faster, and scale selectively, which helps preserve runway and adapt to market changes while pursuing product-led growth.

Negative Factors

Declining revenue

Sustained top-line decline and deeply negative margins undermine the firm's ability to invest in R&D, marketing, and product refreshes. Prolonged losses compress operational flexibility, make it harder to defend market position, and raise the risk that product roadmaps and distribution relationships weaken over time.

Weak balance sheet

Negative equity and reliance on debt indicate structural solvency and financing risks. This constrains strategic options, increases refinancing vulnerability, and can raise borrowing costs, making it difficult to fund growth initiatives or absorb shocks without dilutive or expensive capital.

Poor cash generation

Consistent negative operating and free cash flows mean the business cannot self-fund operations or product development. Persistent cash deficits force reliance on external funding, which may be scarce or costly, limiting the company's ability to execute strategy and increasing bankruptcy or dilution risk.

Atomos Business Overview & Revenue Model

Company Description

Atomos Limited, a video technology company, provides monitor-recorder content creation products worldwide. The company offers 4K and HD Apple ProRes monitor-recorders, compact and portable monitor-recorders, live/switching products, and on-set and in-studio 4K HDR production monitors, as well as related accessories. Its products are used in the production of TV/web commercials, social media contents, music videos, corporate videos, sports and live events, worships and weddings houses, documentary and wildlife, feature films, reality TV, and education and training. The company was formerly known as Tetsuwan Ltd and changed its name to Atomos Limited in October 2018. Atomos Limited was incorporated in 2009 and is based in Carlton, Australia.

How the Company Makes Money

Atomos generates revenue through the sale of its hardware products, including external recorders and monitors, which are essential tools for video production. Additionally, the company offers software solutions that complement its hardware, providing users with advanced editing and workflow capabilities. Key revenue streams include direct sales to consumers, partnerships with retailers, and collaborations with production companies. Atomos also benefits from strategic partnerships with camera manufacturers, allowing for bundled offerings and increased visibility in the market. The company's focus on innovation and quality attracts a loyal customer base, contributing to recurring sales and brand loyalty.

Atomos Financial Statement Overview

Summary

Income statement shows declining revenue (-9.40%) and deeply negative profitability (net margin -44.44%, EBIT margin -36.25%). Balance sheet is a major risk with negative equity and reliance on debt (debt-to-equity -1.47). Cash flow is also weak with negative operating and free cash flow, indicating limited ability to self-fund operations.

Income Statement

Atomos has experienced declining revenue over the past few years, with a negative revenue growth rate of -9.40% in the most recent year. The company also shows negative profitability margins, including a net profit margin of -44.44% and an EBIT margin of -36.25%. These figures indicate significant challenges in maintaining profitability and controlling costs.

Balance Sheet

The balance sheet reveals a concerning financial structure with a negative stockholders' equity and a high debt-to-equity ratio of -1.47. This indicates that the company is heavily reliant on debt financing, which poses a risk in terms of financial stability. The return on equity is positive at 131.66%, but this is due to negative equity, which distorts the metric.

Cash Flow

Cash flow analysis shows negative operating and free cash flows, with a free cash flow to net income ratio of 1.00, indicating that the company is struggling to generate cash from its operations. The free cash flow growth rate is negative, reflecting a decline in cash generation capabilities.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	37.63M	32.66M	35.72M	42.76M	72.99M	78.61M
Gross Profit	7.00M	8.49M	11.20M	4.71M	28.49M	37.44M
EBITDA	-3.44M	-10.63M	-18.51M	-56.09M	-4.94M	8.18M
Net Income	-7.72M	-14.51M	-22.36M	-61.06M	-10.36M	4.22M
Balance Sheet
Total Assets	20.91M	16.20M	24.96M	37.17M	108.75M	91.20M
Cash, Cash Equivalents and Short-Term Investments	1.33M	1.81M	2.90M	2.94M	5.00M	25.98M
Total Debt	11.78M	16.18M	5.17M	9.54M	18.60M	3.19M
Total Liabilities	23.98M	27.23M	22.61M	27.41M	54.51M	27.48M
Stockholders Equity	-3.06M	-11.02M	2.35M	9.77M	54.24M	63.71M
Cash Flow
Free Cash Flow	-7.76M	-13.27M	-9.16M	-5.68M	-32.38M	7.85M
Operating Cash Flow	-7.47M	-13.27M	-9.12M	-2.56M	-26.45M	9.82M
Investing Cash Flow	-288.00K	-3.00K	-41.00K	-4.92M	-5.95M	-1.96M
Financing Cash Flow	7.98M	12.12M	9.14M	5.34M	11.41M	-788.00K

Atomos 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%
BCC	50 Neutral	AU$15.99M	14.23	-135.89%	―	-21.60%	-657.00%
KNO	42 Neutral	AU$4.76M	-1.73	-23.31%	―	2.15%	-900.00%
AMS	40 Underperform	AU$40.04M	-4.22	―	―	-7.11%	51.02%
ICE	38 Underperform	AU$18.61M	-4.55	-135.50%	―	-48.98%	-12.82%
AKP	37 Underperform	AU$181.10M	-14.84	―	―	-100.00%	44.26%

Atomos Corporate Events

Atomos Posts Profit and Reaffirms Outlook as Cost Cuts and Product Demand Lift H1 FY26

Atomos reported first-half FY26 revenue of $23.7 million, up 28% year on year, and EBITDA of $1.9 million, marking a return to profitability with a $0.2 million post-tax profit and two consecutive EBITDA-positive quarters. The result was driven by strong demand for its Ninja and Shinobi products, higher contribution margins from repricing and lower discounting, and a 29% reduction in fixed costs, particularly staff expenses.

Operating cash outflow narrowed to $1.5 million amid inventory investment and receivables timing, while cash and equivalents stood at $1.3 million at 31 December 2025, including restricted deposits. Management reaffirmed its FY26 outlook, guiding for second-half sales and EBITDA to meet or exceed first-half levels and for positive operating cash flow in H2, underscoring confidence that new product launches and ecosystem development will sustain the turnaround trajectory.

The most recent analyst rating on (AU:AMS) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Atomos stock, see the AU:AMS Stock Forecast page.

Atomos Reaffirms Creator-Focused Strategy and Ecosystem Vision

Atomos has reaffirmed its core value proposition of empowering creators and supporting the democratisation of content creation across social, professional video and entertainment segments. The company continues to emphasise intuitive product design and a cohesive ecosystem that simplifies video production, allowing users to concentrate on creativity rather than technical complexity.

The business is also underscoring its strategy of aligning and integrating with leading global technology partners to enhance connectivity and extend its reach in key creator markets. Management highlights the strength of Atomos’ brand equity and customer loyalty built over 12 years, signaling an intention to deepen relationships with creatives and capture more of their production needs across use cases such as weddings, events and music content.

The most recent analyst rating on (AU:AMS) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Atomos stock, see the AU:AMS Stock Forecast page.

Atomos posts strongest quarterly sales in three years as EBITDA turns positive again

Atomos reported a sharp rebound in trading for the quarter ended 31 December 2025, with unaudited Q2 FY26 revenue rising 44% year-on-year to A$13.4 million and EBITDA improving to A$1.65 million, marking a second consecutive positive quarter after a prolonged period of losses. The stronger performance was driven by continuing sales momentum in its Ninja and Shinobi product lines and a growing direct-to-consumer channel, supported by new product launches such as the Ninja TX GO and firmware upgrades that broaden camera control and ProRes RAW support. While the company recorded a modest net operating cash outflow of A$0.6 million as it invested in inventory for upcoming releases, it used A$7.8 million from expiring options to pay down debt, reducing pro forma borrowings to A$9.9 million. For the first half, Atomos delivered A$23.7 million in revenue and A$1.9 million in EBITDA, both in line with guidance, and management signalled confidence that second-half revenue, EBITDA and operating cash flow will all improve, underscoring a turnaround in profitability and operational leverage that could strengthen its position in the video production equipment market.

The most recent analyst rating on (AU:AMS) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Atomos stock, see the AU:AMS Stock Forecast page.

Atomos Director Increases Stake with Major Share Conversion

Atomos Limited has announced a change in the director’s interest, with Peter Gordon Barber converting 100 million options into fully paid ordinary shares, increasing his holdings to 218,125,000 shares. This move reflects a significant shift in the director’s investment strategy, potentially impacting the company’s stock dynamics and signaling confidence in the company’s future prospects.

The most recent analyst rating on (AU:AMS) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Atomos stock, see the AU:AMS Stock Forecast page.

Atomos Limited Announces Quotation of New Securities on ASX

Atomos Limited has announced the quotation of 28,111,375 new securities on the Australian Securities Exchange (ASX), effective from December 1, 2025. This move is part of the company’s strategy to enhance its financial standing and potentially expand its market presence, which could have significant implications for its stakeholders and industry positioning.

The most recent analyst rating on (AU:AMS) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Atomos stock, see the AU:AMS Stock Forecast page.

Atomos Reduces Debt with Successful Options Exercise

Atomos Limited has announced the exercise of approximately 259.8 million ASX-listed options, generating $7.8 million in funds to reduce its outstanding debt to approximately $9.7 million. This financial maneuver is part of Atomos’ strategy to rebuild its brand and enhance shareholder value, with the company expressing confidence in achieving its sales and EBITDA targets for the first half of 2026.

The most recent analyst rating on (AU:AMS) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Atomos stock, see the AU:AMS Stock Forecast page.

Atomos Limited Announces Quotation of New Securities on ASX

Atomos Limited has announced the quotation of 199,202,845 ordinary fully paid securities on the Australian Securities Exchange as of November 28, 2025. This move is part of the company’s strategic efforts to enhance its market presence and provide liquidity to its stakeholders, potentially strengthening its position in the technology sector.

The most recent analyst rating on (AU:AMS) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Atomos stock, see the AU:AMS Stock Forecast page.

Atomos Director Changes Securities Holdings

Atomos Limited has announced a change in the director’s interest, with James Joughin exercising options to acquire 1,600,000 fully paid ordinary shares, replacing an equivalent number of options. This transaction reflects a strategic move within the company’s leadership, potentially impacting its market positioning and shareholder interests.

The most recent analyst rating on (AU:AMS) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Atomos stock, see the AU:AMS Stock Forecast page.

Atomos Limited Announces Director’s Increased Holdings

Atomos Limited has announced a change in the interests of its director, Peter Gordon Barber, with an increase in his indirect holdings. The change involves the acquisition of 1,625,000 fully paid ordinary shares and 16,128,982 options, reflecting a strategic move that could impact the company’s market positioning and shareholder dynamics.

The most recent analyst rating on (AU:AMS) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Atomos stock, see the AU:AMS Stock Forecast page.