Brainchip Holdings Ltd. (AU:BRN)
OTHER OTC:BRN
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BrainChip Holdings
(OTC:BRN)
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Rating:48Neutral
Price Target:
AU$0.19
▲(4.44% Upside)
Action:Upgraded
Date:02/28/26
The score is primarily constrained by persistent losses, negative gross profit, and continued cash burn despite accelerating revenue growth and a low-debt balance sheet. Technicals are mixed (neutral oscillators but negative MACD and below longer moving averages), and valuation provides limited support given negative earnings and no dividend data.
Positive Factors
Low leverage / strong balance sheet flexibility
Very low debt (debt/equity ~0.04) materially reduces financial risk and preserves optionality. Over a multi-month horizon this balance sheet flexibility supports continued R&D, partnership development or measured capital raises without acute refinancing pressure.
Negative Factors
Persistent large losses and negative gross profit
The company has sustained large net losses and negative gross profit over recent years, indicating the current cost base materially exceeds revenue. Until margins flip, the business will consume shareholder capital and cannot self-fund growth, making long-term profitability uncertain.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet flexibility
Very low debt (debt/equity ~0.04) materially reduces financial risk and preserves optionality. Over a multi-month horizon this balance sheet flexibility supports continued R&D, partnership development or measured capital raises without acute refinancing pressure.
Read all positive factors
BrainChip Holdings (BRN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$428.28M
Dividend YieldN/A
Average Volume (3M)6.25M
Price to Earnings (P/E)―
Beta (1Y)1.61
Revenue Growth386.28%
EPS Growth21.47%
CountryAU
Employees63
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding2,275,825,200
10 Day Avg. Volume9,940,686
30 Day Avg. Volume6,248,476
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 (AI) and machine learning applications in North America, Oceania, Europe, the Middle East, and Asia. The company offers Akida Neuromorphic Proc...
How the Company Makes Money
BrainChip primarily makes money by licensing its neuromorphic computing technology rather than selling finished devices at scale. Key revenue streams include: (1) Licensing of Akida IP: BrainChip licenses its Akida processor designs and related IP...
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 | 1.18M | 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
Positive
0.18
Price Trends
0.16
Positive
0.15
Positive
0.17
Positive
Market Momentum
<0.01
Negative
71.44
Negative
83.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BRN, the sentiment is Positive. The current price of 0.18 is above the 20-day moving average (MA) of 0.16, above the 50-day MA of 0.16, and above the 200-day MA of 0.17, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 71.44 is Negative, neither overbought nor oversold. The STOCH value of 83.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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$1.68B | 137.60 | 28.89% | ― | 1038.95% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | AU$1.80B | -34.78 | -57.61% | ― | 508.63% | -6.35% | |
48 Neutral | AU$428.28M | -13.96 | -89.98% | ― | 386.28% | 21.47% | |
43 Neutral | AU$201.39M | -7.40 | -44.58% | ― | 31.98% | -1041.84% | |
43 Neutral | AU$22.67M | -3.18 | -86.80% | ― | ― | 7.50% | |
41 Neutral | AU$23.25M | -5.28 | -153.09% | ― | 6.66% | ― |
* Technology Sector Average
AU:BRN
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BrainChip Holdings Corporate Events
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...
BrainChip issues over 5.7 million restricted stock units under employee incentive plan
May 8, 2026
BrainChip Holdings has notified the market of the issuance of 5,724,113 unquoted restricted stock units under its employee incentive scheme. The new securities, which are not yet quoted on the ASX due to transfer restrictions, underscore the compa...
BrainChip Survives Second Pay Strike as Shareholders Back Board and Governance Measures
May 8, 2026
BrainChip has confirmed that its latest annual general meeting resulted in a second strike against the company’s remuneration report, reflecting a significant minority of shareholders opposing executive pay practices. Despite this, the condi...
BrainChip Investors Back Board, Pay and Capital Moves at AGM
May 6, 2026
BrainChip Holdings reported the results of its Annual General Meeting, where shareholders approved all key resolutions related to governance, capital management and executive incentives. The adoption of the remuneration report passed on a relative...
BrainChip AGM Showcases Neuromorphic Akida Chip Gains in Mission‑Critical Edge AI
May 6, 2026
BrainChip used its 2026 annual general meeting to highlight the evolution of its neuromorphic technology and reaffirm its strategy in edge AI hardware. Founder Peter Van Der Made traced the company’s origins to a belief that neural networks ...
BrainChip Issues 750,000 Unquoted Restricted Stock Units
Apr 30, 2026
BrainChip Holdings has notified the market of the issue of 750,000 unquoted restricted stock units, with an issue date of April 30, 2026. The move expands the company’s pool of equity‑based instruments, likely tied to employee or execu...
BrainChip Issues 4.74 Million Unquoted Restricted Stock Units Under Incentive Plan
Apr 30, 2026
BrainChip Holdings has notified the market of the issue of 4,740,000 unquoted restricted stock units under its employee incentive scheme, with an issue date of 30 April 2026. The new unquoted securities are not intended to be listed on the ASX, in...
BrainChip advances neuromorphic edge AI roadmap as AKD1500 production nears
Apr 23, 2026
BrainChip reported first‑quarter 2026 customer cash inflows of US$0.7 million against US$4.3 million in payments to suppliers and staff, while advancing its strategy to commercialise ultra‑low power edge AI through technology execution...
BrainChip Expands Share Capital Through Conversion of Unquoted Securities
Apr 2, 2026
BrainChip Holdings has notified the market of the conversion of unquoted options or other unquoted convertible securities into a total of 3,926,673 ordinary fully paid shares. The newly issued shares were created in two tranches on 12 January 2026...
BrainChip Trims Potential Dilution as Millions of Equity Rights Lapse
Apr 2, 2026
BrainChip Holdings has announced the lapse of several classes of equity incentives, including performance rights, options and restricted stock units, after their vesting or performance conditions were not met by 28 February 2026. The cessation aff...
BrainChip Issues 23 Million Shares in Routine Equity and Funding Move
Apr 1, 2026
BrainChip Holdings has issued 23,073,334 fully paid ordinary shares for nil consideration, allocating 10,000,000 shares to the trustee of its equity plan, 73,334 shares on vesting of restricted stock units, and 13,000,000 shares to LDA Group under...
BrainChip Seeks ASX Quotation for 23 Million New Shares
Apr 1, 2026
BrainChip Holdings has applied to the ASX for quotation of 23,073,334 new fully paid ordinary shares, expanding its listed capital base. The shares were issued both to the trustee of the company’s equity plan following the vesting of restric...
BrainChip Sets Hybrid 2026 AGM to Vote on Pay and Board
Mar 29, 2026
BrainChip Holdings has called its Annual General Meeting for 6 May 2026 in Sydney, to be conducted as a hybrid event using Lumi AGM technology alongside a physical venue. Shareholders registered by the evening of 4 May 2026 will be eligible to vot...
BrainChip licenses Akida 2 neuromorphic IP to Korea’s EDGEAI in global edge AI push
Mar 29, 2026
BrainChip Holdings has signed a global, non-exclusive technology licensing agreement with Korea-based semiconductor company EDGEAI to integrate BrainChip’s Akida 2 neuromorphic IP into EDGEAI’s upcoming system-on-chip product line for ...
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.