Atomo Diagnostics Ltd. (AT1) AI Stock Analysis

• Market Cap: AU$30.79M
• Dividend Yield: N/A
• Average Volume (3M): 1.80M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.32
• Revenue Growth: -7.20%
• EPS Growth: 28.70%
• Country: AU
• Employees: N/A
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): >-0.01
• Shares Outstanding: 810,175,300
• 10 Day Avg. Volume: 984,499
• 30 Day Avg. Volume: 1,797,539
• PEG Ratio: 0.06
• Price to Book (P/B): 1.30
• Price to Sales (P/S): 2.39
• P/FCF Ratio: -4.55
• 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: 48 Neutral
• Price Target: AU$0.04 ▼(-7.50% Downside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is held down primarily by weak financial performance, driven by declining revenue, very negative margins, and negative/free cash flow deterioration. Technicals provide partial support with the price trading above major moving averages and moderate positive momentum. Valuation is difficult to assess due to losses (negative P/E) and no dividend yield data.

Positive Factors

Proprietary integrated platform

Atomo's integrated device (lancet, collection, delivery) is a durable product-level advantage that increases partner stickiness and simplifies test kit assembly. This reduces switching costs for diagnostic manufacturers and supports recurring device sales over the medium term.

Low financial leverage

Minimal leverage provides structural financial flexibility: the company can invest in regulatory, manufacturing, or commercialization activities without large near-term interest burdens. Low debt cushions operational setbacks and preserves strategic optionality.

Attractive device gross margins

A near-50% gross margin on device hardware shows strong per-unit economics; if revenue scale recovers, these margins can generate operating leverage and a pathway to profitability as fixed costs are absorbed and production efficiencies improve.

Negative Factors

Declining revenue

Sustained revenue decline undermines scale-dependent economics: lower volumes hamper manufacturing efficiencies, limit bargaining leverage with suppliers and partners, and make it harder to amortize fixed R&D and SG&A costs needed for commercial expansion.

Deep negative profitability

Very large operating and net losses indicate the core business is not covering operating expenses. Persistent negative margins erode equity, constrain reinvestment for product development and commercialization, and weaken the company’s long-term viability without corrective action.

Negative and deteriorating cash flow

Worsening operating and free cash flow reduces runway and increases dependency on external financing. This raises dilution or liquidity risk and limits the firm's ability to scale manufacturing, support regulatory work, or sustain commercial partnerships over the next several quarters.

Atomo Diagnostics Ltd. Business Overview & Revenue Model

Company Description

Atomo Diagnostics Limited engages in the development and sale of medical devices worldwide. It offers rapid diagnostic test devices for COVID-19, HIV screening, pregnancy test, and respiratory test. The company was incorporated in 2010 and is headquartered in Leichhardt, Australia.

How the Company Makes Money

Atomo Diagnostics generates revenue primarily through the sale of its diagnostic devices and test kits to healthcare providers, laboratories, and distributors. The company operates on a B2B model, securing contracts and partnerships with healthcare organizations and governments to supply its products. Additionally, Atomo may engage in collaborations with pharmaceutical companies to develop tailored diagnostic solutions, which can further enhance its revenue streams. Key partnerships and licensing agreements are significant contributors to its earnings, providing Atomo with a stable income from both product sales and potential royalties from its proprietary technology.

Atomo Diagnostics Ltd. Financial Statement Overview

Summary

Overall fundamentals are weak: revenue declined (-10.04%) with deeply negative profitability (net margin -131.08%, EBIT margin -153.90%) and deteriorating cash generation (negative operating/free cash flow; free cash flow growth -44.42%). The main offset is a relatively stable balance sheet with very low leverage (debt-to-equity 0.03), but returns remain poor (ROE -71.26%).

Income Statement

Atomo Diagnostics Ltd. has faced declining revenues with a negative revenue growth rate of -10.04% in the most recent year. The company is struggling with profitability, as indicated by negative margins across the board, including a net profit margin of -131.08% and an EBIT margin of -153.90%. Despite a slight improvement in gross profit margin to 47.28%, the overall financial health of the income statement remains weak.

Balance Sheet

The balance sheet shows a low debt-to-equity ratio of 0.03, indicating minimal leverage, which is a positive aspect. However, the return on equity is significantly negative at -71.26%, reflecting poor profitability and returns for shareholders. The equity ratio stands at a healthy level, suggesting a stable capital structure despite ongoing losses.

Cash Flow

Cash flow analysis reveals challenges with negative operating cash flow and free cash flow, although the free cash flow to net income ratio is slightly above 1, indicating some alignment between cash flow and accounting profits. However, the free cash flow growth rate is negative at -44.42%, highlighting cash flow deterioration.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	3.92M	3.79M	4.09M	2.54M	12.34M	6.72M
Gross Profit	-388.74K	1.79M	1.44M	-6.08M	-1.85M	-1.71M
EBITDA	-4.33M	-4.69M	-6.12M	-9.00M	-4.72M	-4.70M
Net Income	-3.98M	-4.97M	-6.85M	-9.96M	-5.71M	-6.02M
Balance Sheet
Total Assets	9.48M	9.28M	11.38M	16.47M	26.62M	32.24M
Cash, Cash Equivalents and Short-Term Investments	3.51M	3.22M	3.69M	6.47M	12.97M	17.95M
Total Debt	754.39K	185.10K	84.67K	254.88K	340.81K	67.59K
Total Liabilities	2.84M	2.30M	1.29M	1.68M	1.81M	2.15M
Stockholders Equity	6.64M	6.98M	10.08M	14.79M	24.81M	30.09M
Cash Flow
Free Cash Flow	-2.23M	-1.99M	-4.70M	-6.25M	-5.11M	-10.12M
Operating Cash Flow	-2.19M	-1.96M	-4.69M	-5.85M	-2.81M	-4.23M
Investing Cash Flow	-38.88K	-33.89K	-16.08K	-401.28K	-2.31M	-5.90M
Financing Cash Flow	2.75M	1.46M	1.87M	-170.75K	17.61K	997.37K

Atomo Diagnostics Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:AT1, the sentiment is Positive. The current price of 0.04 is below the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.04, and above the 200-day MA of 0.03, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 56.32 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:AT1.

Atomo Diagnostics Ltd. 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%
AT1	48 Neutral	AU$30.79M	-4.09	-58.27%	―	-7.20%	28.70%
CBL	48 Neutral	AU$22.66M	-1.40	-103.74%	―	14.84%	39.64%
HMD	45 Neutral	AU$44.55M	-9.32	-513.22%	―	-34.06%	75.47%
UCM	39 Underperform	AU$3.12M	-0.88	-218.52%	―	-30.80%	-38.95%
ADR	37 Underperform	AU$11.18M	-0.50	-1476.79%	―	-2.82%	32.47%

Atomo Diagnostics Ltd. Corporate Events

Atomo Wins A$630,000 Order for Government-Backed HIV Self-Testing Program

Atomo Diagnostics has secured a material purchase order worth approximately A$630,000 from the National Association of People with HIV Australia to supply HIV self-tests for the national free-to-user HIV self-testing mail-out program. The government-backed initiative, supported by platforms such as Grindr, aims to boost testing rates among high-risk groups by providing discreet, convenient at-home testing, reinforcing Atomo’s position in the HIV diagnostics space and underpinning its revenue with continued public funding for key HIV self-test programs.

The most recent analyst rating on (AU:AT1) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Atomo Diagnostics Ltd. stock, see the AU:AT1 Stock Forecast page.

Atomo Wins Second Major Global Fund–Backed Order for HIV Self-Tests

Atomo Diagnostics has secured a A$416,000 purchase order for its HIV self-tests, to be supplied under the Mylan brand to an African country with funding from the Global Fund, a level of revenue the company deems material. This marks the second Global Fund–financed HIV self-test order it has received in early 2026, underscoring growing international demand for its HIV testing products and reinforcing Atomo’s positioning in the global rapid diagnostics market.

The most recent analyst rating on (AU:AT1) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Atomo Diagnostics Ltd. stock, see the AU:AT1 Stock Forecast page.

Atomo Diagnostics Sets Date for Q2 FY26 Results and Investor Webinar

Atomo Diagnostics has scheduled the release of its Q2 FY26 financial results for Wednesday, 28 January 2026, and will host an investor and analyst webinar briefing on the same day at 2:00 pm AEDT, led by Managing Director and CEO John Kelly. The company is directing investors to pre-register online and use its Investor Hub to submit questions and comments in advance, underlining a continued focus on proactive engagement with the market and transparency around its financial and operational performance.

The most recent analyst rating on (AU:AT1) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Atomo Diagnostics Ltd. stock, see the AU:AT1 Stock Forecast page.

Atomo Diagnostics Wins Exclusive Global Licence for Rapid Liver Function Test on Pascal Platform

Atomo Diagnostics has secured an exclusive global licence from the Burnet Diagnostics Initiative for a novel liver function test that detects liver injury via alanine aminotransferase (ALT) using Atomo’s Pascal point-of-care cassette. The test, which is already substantively developed and undergoing evaluation by a large multinational pharmaceutical company in a US drug trial for drug-induced liver injury monitoring, positions Atomo to tap into a significant global market for rapid liver function screening and monitoring, including chronic liver diseases such as viral hepatitis, fatty liver and alcoholic liver disease. The agreement, which runs to the expiry of the underlying patents expected in 2044, builds on Atomo’s existing collaboration with Burnet and includes a $150,000 upfront licensing milestone payment plus performance-based regulatory milestone payments, while standard industry royalties will only commence once regulatory approvals are secured in key markets, lowering development risk and providing a clearer path to commercialisation.

The most recent analyst rating on (AU:AT1) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Atomo Diagnostics Ltd. stock, see the AU:AT1 Stock Forecast page.

Atomo Wins $502,000 HIV Self-Test Order Backed by Global Fund

Atomo Diagnostics Limited has secured a material purchase order worth $502,000 to supply its HIV self-test kits, manufactured under the Mylan brand, to an African country with funding from the Global Fund, with delivery planned for March. The deal underscores ongoing demand for Atomo’s HIV self-testing solutions in African markets and reinforces the company’s role in providing reliable, discreet diagnostic options in regions with significant HIV risk, supporting both its revenue base and its positioning in global rapid diagnostics.

The most recent analyst rating on (AU:AT1) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Atomo Diagnostics Ltd. stock, see the AU:AT1 Stock Forecast page.

Atomo Diagnostics Grants Options to Director Following Shareholder Approval

Atomo Diagnostics Ltd. announced a change in the director’s interest, confirming the issuance of 1,000,000 unlisted options exercisable at $0.0115, expiring on June 30, 2028, to director Cheri Walker following shareholder approval. This grant highlights the company’s strategy to align leadership incentives with long-term stakeholder value creation.

The most recent analyst rating on (AU:AT1) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Atomo Diagnostics Ltd. stock, see the AU:AT1 Stock Forecast page.

Atomo Diagnostics Issues New Equity Securities Under Employee Incentive Scheme

Atomo Diagnostics Ltd. has announced the issuance of 3,100,000 unquoted equity securities in the form of options expiring on June 30, 2028, with an exercise price of $0.0115. This issuance is part of an employee incentive scheme and is not intended to be quoted on the ASX. The move is likely aimed at motivating and retaining key personnel, potentially impacting the company’s operational efficiency and market competitiveness.

The most recent analyst rating on (AU:AT1) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Atomo Diagnostics Ltd. stock, see the AU:AT1 Stock Forecast page.

Atomo Diagnostics Addresses ASX Query on Unusual Trading Activity

Atomo Diagnostics Ltd. has responded to an ASX query regarding unusual trading activity in its securities, confirming it is unaware of any undisclosed price-sensitive information that could explain the recent changes in price and volume. The company asserts its compliance with ASX Listing Rules, specifically Rule 3.1, and states that its board has authorized the response.

The most recent analyst rating on (AU:AT1) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Atomo Diagnostics Ltd. stock, see the AU:AT1 Stock Forecast page.