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BrainChip Holdings
(OTC:BRN)
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Rating:44Neutral
Price Target:
AU$0.13
▲(9.17% Upside)
Action:Reiterated
Date:07/25/26
The score is held down primarily by weak financial performance dominated by persistent losses, negative gross profit, and ongoing cash burn. Technicals also remain bearish with the stock trading below all major moving averages and a negative MACD. Revenue growth and low balance-sheet leverage provide some support but are not yet sufficient to offset profitability and cash-flow risks.
Positive Factors
Revenue Acceleration
Sustained high revenue growth in 2025 signals improving commercial traction for Akida IP and customer adoption. Over the next 2–6 months this trend supports scale benefits: larger licensing pipelines, stronger bargaining power with partners, and a clearer path to diluting fixed R&D and onboarding costs.
Negative Factors
Negative Gross Profit & Net Losses
Negative gross profit means core unit economics are currently unprofitable, so revenue growth alone may not translate to sustainable profits. Persisting A$21–24M net losses will continue to consume capital and require margin improvement or cost reductions to avoid repeated external funding rounds.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Acceleration
Sustained high revenue growth in 2025 signals improving commercial traction for Akida IP and customer adoption. Over the next 2–6 months this trend supports scale benefits: larger licensing pipelines, stronger bargaining power with partners, and a clearer path to diluting fixed R&D and onboarding costs.
Read all positive factors
BrainChip Holdings (BRN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$293.03M
Dividend YieldN/A
Average Volume (3M)4.79M
Price to Earnings (P/E)―
Beta (1Y)1.76
Revenue Growth386.28%
EPS Growth21.47%
CountryAU
Employees71
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding2,275,825,200
10 Day Avg. Volume6,855,955
30 Day Avg. Volume4,788,457
Financial Highlights & Ratios
PEG Ratio0.60
Price to Book (P/B)8.07
Price to Sales (P/S)126.89
P/FCF Ratio-15.47
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)AU$4.40M
BrainChip Holdings Business Overview & Revenue Model
Company Description
BrainChip Holdings Ltd develops software and hardware accelerated solutions for artificial intelligence and machine learning applications in North America, Asia Pacific, Europe, the Middle East, and Asia Pacific. The company primarily focuses on d...
How the Company Makes Money
BrainChip primarily makes money by commercializing its neuromorphic processor technology (Akida) as semiconductor intellectual property (IP) rather than by operating a high-volume chip manufacturing business. Key revenue streams include: (1) Licen...
BrainChip Holdings Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
68
Positive
Cash Flow
30
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.95M | 398.01K | 232.00K | 5.07M | 1.59M |
| Gross Profit | -2.59M | -134.91K | 91.44K | 4.59M | 1.30M |
| EBITDA | -19.53M | -23.67M | -27.99M | -21.41M | -20.65M |
| Net Income | -21.18M | -24.43M | -28.88M | -22.09M | -20.98M |
Balance Sheet | |||||
| Total Assets | 34.17M | 23.05M | 20.18M | 29.18M | 23.78M |
| Cash, Cash Equivalents and Short-Term Investments | 31.73M | 20.00M | 14.34M | 23.12M | 19.37M |
| Total Debt | 816.51K | 1.17M | 1.70M | 2.95M | 1.85M |
| Total Liabilities | 3.46M | 3.22M | 3.35M | 5.46M | 4.84M |
| Stockholders Equity | 30.71M | 19.83M | 16.83M | 23.72M | 18.94M |
Cash Flow | |||||
| Free Cash Flow | -16.02M | -15.96M | -17.66M | -19.88M | -13.94M |
| Operating Cash Flow | -15.98M | -15.88M | -17.53M | -19.69M | -13.69M |
| Investing Cash Flow | -2.09M | -72.65K | -132.60K | -127.22K | -265.55K |
| Financing Cash Flow | 29.38M | 22.60M | 8.84M | 17.59M | 14.69M |
BrainChip Holdings Technical Analysis
Negative
0.12
Price Trends
0.15
Negative
0.15
Negative
0.16
Negative
Market Momentum
>-0.01
Negative
43.09
Neutral
55.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BRN, the sentiment is Negative. The current price of 0.12 is below the 20-day moving average (MA) of 0.13, below the 50-day MA of 0.15, and below the 200-day MA of 0.16, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 43.09 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BRN.
BrainChip Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | AU$1.53B | 117.87 | 28.89% | ― | 1038.95% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
47 Neutral | AU$1.13B | -21.61 | -57.61% | ― | 508.63% | -6.35% | |
44 Neutral | AU$293.03M | -9.37 | -89.98% | ― | 386.28% | 21.47% | |
43 Neutral | AU$192.27M | -6.64 | -44.58% | ― | 31.98% | -1041.84% | |
43 Neutral | AU$22.67M | -3.55 | -86.80% | ― | ― | 7.50% | |
43 Neutral | AU$22.59M | -4.68 | -153.09% | ― | 6.66% | ― |
* Technology Sector Average
AU:BRN
BrainChip Holdings
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BrainChip Holdings Corporate Events
BrainChip advances AKD1500 into volume production as LDA funding facility expires
Jul 26, 2026
BrainChip has moved its AKD1500 neuromorphic processor into commercial-scale manufacturing, receiving the first batch of 2,000 chips as part of an expected run of about 60,000 units despite slightly lower production yields than planned. The transi...
BrainChip closes LDA capital facility as collateral share sales wind down
Jul 24, 2026
BrainChip has allowed its flexible capital management facility with LDA Capital to lapse, with the put option agreement expiring on 30 June and all rights and obligations under the arrangement now concluded. The company emphasised that the wind...
BrainChip Announces Lapse of Options and Restricted Stock Units
Jul 6, 2026
BrainChip Holdings Ltd has notified the market of the cessation of certain equity-linked securities, including options expiring on various dates and restricted stock units, after the conditions attached to those instruments were not met or became ...
BrainChip Expands Share Base Through Conversion of Unquoted Securities
Jul 6, 2026
BrainChip Holdings Ltd has issued 4,342,414 new ordinary fully paid shares on June 30, 2026 following the conversion or exercise of previously unquoted options or other convertible securities. The issuance reflects the transition of these instrume...
BrainChip Director Donates Proceeds From Small Share Sale to Charities
Jun 4, 2026
BrainChip Holdings has reported a change in the shareholding of director Peter Van Der Made, who slightly reduced his direct stake in the company. The filing shows that on 1 June 2026 he disposed of 171,722 fully paid ordinary shares for proceeds ...
BrainChip Corrects RSU Issuance Figures in Updated ASX Filing
Jun 3, 2026
BrainChip Holdings has updated its disclosure to correct the reported number of restricted share units issued, clarifying that the total should be 34,054,565 rather than the previously stated figure. The revision adjusts an overstatement of 4,740,...
BrainChip Issues New Restricted Stock Units Under Employee Incentive Scheme
May 31, 2026
BrainChip Holdings has notified the market of the issue of 566,047 restricted stock units under its employee incentive scheme, with the securities not intended to be quoted on the ASX. The move underscores the company’s continued use of equi...
BrainChip Issues Over 1.2 Million Unquoted Restricted Stock Units
May 27, 2026
BrainChip Holdings has notified the market of the issue of 1,269,373 unquoted restricted stock units, with an issue date of 28 May 2026. The move expands its pool of unquoted equity securities, likely supporting ongoing incentive or compensation a...
BrainChip Issues New Unquoted Options and Restricted Stock Units Under Incentive Plan
May 27, 2026
BrainChip Holdings has issued 4,057,460 unquoted options with various exercise prices and expiry dates, along with 250,000 restricted stock units, under its employee incentive arrangements. The new equity awards, which will not be quoted on the AS...
BrainChip boosts director equity stake with new restricted stock grant
May 11, 2026
BrainChip Holdings has reported a change in the equity holdings of director Sean Hehir, reflecting the allotment of additional Restricted Stock Units under the company’s Employee Share Plan Trust. The allocation was made in line with terms p...
BrainChip Issues New Unquoted Equity Under Employee Incentive Scheme
May 11, 2026
BrainChip Holdings has issued 584,295 performance rights and 38,794,565 restricted stock units under its employee incentive scheme, with both classes of unquoted securities subject to transfer restrictions and not listed on the ASX. The significan...
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.