Dubber Corporation Limited (AU:DUB)
ASX:DUB
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Dubber Corporation Limited
(Sydney:DUB)
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Select Model
Rating:46Neutral
Price Target:
AU$0.01
▼(-35.00% Downside)
Action:UpgradedDate:04/01/26
The score is held down primarily by weak financial performance (losses and negative cash flow) and a soft technical backdrop (negative MACD and longer-term downtrend). The earnings call provides partial support via a clearer path to breakeven and a near-term cash inflow catalyst, while valuation is difficult to assess due to a negative P/E and no dividend support.
Positive Factors
SaaS telco-integrated model
Dubber’s embedded SaaS model with telco and UC partner distribution creates recurring, sticky revenue and broad channel reach. Durable partner-led embedding reduces churn risk, supports per-user/usage monetisation, and provides a structural route to scale ARPU and retention over months.
Negative Factors
Negative cash flow generation
Sustained negative operating and free cash flow forces reliance on external funding or one‑off receipts for operations. This weakens financial flexibility, increases refinancing and dilution risk, and constrains investment in product R&D and sales capacity needed to restore recurring revenue growth.
Read all positive and negative factors
Positive Factors
Negative Factors
SaaS telco-integrated model
Dubber’s embedded SaaS model with telco and UC partner distribution creates recurring, sticky revenue and broad channel reach. Durable partner-led embedding reduces churn risk, supports per-user/usage monetisation, and provides a structural route to scale ARPU and retention over months.
Read all positive factors
Dubber Corporation Limited (DUB) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$35.24M
Dividend YieldN/A
Average Volume (3M)1.77M
Price to Earnings (P/E)―
Beta (1Y)2.23
Revenue Growth9.14%
EPS Growth65.30%
CountryAU
Employees240
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding2,701,572,500
10 Day Avg. Volume2,104,262
30 Day Avg. Volume1,770,338
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)2.58
Price to Sales (P/S)0.85
P/FCF Ratio-1.65
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)N/A
Revenue Forecast (FY)N/A
Dubber Corporation Limited Business Overview & Revenue Model
Company Description
Dubber Corporation Limited (DUB) is a technology company specializing in cloud-based call recording and voice AI solutions. Operating primarily in the telecommunications and software sectors, Dubber offers its innovative products and services to b...
How the Company Makes Money
Dubber makes money primarily by selling cloud call recording and related services on a subscription basis (software-as-a-service), typically priced per user/seat, per channel, or per service tier depending on the customer and deployment. Revenue i...
Dubber Corporation Limited Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Aug 27, 2026
Earnings Call Sentiment Positive
The call conveyed cautious optimism: tangible progress on cost reduction (12–15% improvements), gross margin expansion to ~70%, and a material North American CSP contract (close to AUD 4.6M) provide clear near-term cash and validation upside. Offsetting these positives are a slight decline in recurring revenue (≈4.9% QoQ), ongoing roll-offs from prior contract losses (e.g., VMO2), timing-related receipts weakness, and legal/recovery uncertainty that could be material. Management is focused on a FY'26 run-rate breakeven, heavy AI R&D investment, product consolidation and rebranding to drive future growth. Overall the balance of strong cost discipline, a major contract and path to breakeven versus still-present revenue and legal risks leads to a cautiously positive tone.Positive Updates
Major North American CSP Contract and Near-Term Cash Inflow
Announced a large North American CSP connection contract (5-year network connectivity fee) that will deliver close to AUD 4.6M in cash; partner is already in production on their mobile network and is expected to launch a product that will drive additional subscription/recurring revenue upside.
Negative Updates
Recurring Revenue Decline
Recurring revenue declined to AUD 7.8M from AUD 8.2M in the prior quarter (≈ -4.9%), attributed mainly to residual Cisco invoicing changes and the after-effects of prior contract losses.
Read all updates
Q2-2026 Updates
Positive
Negative
Major North American CSP Contract and Near-Term Cash Inflow
Announced a large North American CSP connection contract (5-year network connectivity fee) that will deliver close to AUD 4.6M in cash; partner is already in production on their mobile network and is expected to launch a product that will drive additional subscription/recurring revenue upside.
Read all positive updates
Company Guidance
Management guided toward underlying cash‑flow breakeven in FY‑26, noting Q2 reported revenue of $9.3m and recurring revenue of $7.8m (from $8.2m), receipts of $8.6m, a Q2 operating cash‑based cost of $9.5m (down 12% QoQ) and annualized cash‑based costs of $38m, with annualized operating costs at $26.8m (Q2 run‑rate, down 15% vs Q1); gross margin improved to 70% (+1% QoQ). They expect a near‑term AUD 4.6m payment from a Tier‑1 North American CSP in Q3 (5‑year network connection fee) that should drive a record cash quarter, have an undrawn $5m loan facility and raised $765k from directors in Q2; after normalizing one‑offs (~$1.0m) and working‑capital timing (~$1.6m) Q2 cash outflow was roughly nil. Guidance also expects gross margins to stay in the 70s, no planned further capital raises if cash inflows materialize, marketing to drive ~50% of channel leads, mid‑year platform consolidation to cut costs, and AI‑led product and ARPU uplift to drive growth.Dubber Corporation Limited Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
40
Negative
Cash Flow
30
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.37M | 42.19M | 38.66M | 30.03M | 16.32M | 20.34M |
| Gross Profit | 4.52M | 4.95M | 24.55M | -50.87M | -62.62M | -15.20M |
| EBITDA | -7.61M | -12.28M | -29.06M | -60.79M | -75.67M | -29.29M |
| Net Income | -25.50M | -33.31M | -40.72M | -69.20M | -84.11M | -31.70M |
Balance Sheet | ||||||
| Total Assets | 26.96M | 37.13M | 54.29M | 89.98M | 149.48M | 100.33M |
| Cash, Cash Equivalents and Short-Term Investments | 7.34M | 10.86M | 10.65M | 2.86M | 54.38M | 32.04M |
| Total Debt | 4.23M | 7.88M | 7.40M | 9.37M | 11.28M | 2.60M |
| Total Liabilities | 15.78M | 23.21M | 36.81M | 36.77M | 34.24M | 41.38M |
| Stockholders Equity | 11.18M | 13.92M | 17.49M | 53.21M | 115.25M | 58.96M |
Cash Flow | ||||||
| Free Cash Flow | -9.54M | -21.76M | -22.83M | -50.92M | -45.30M | -17.70M |
| Operating Cash Flow | -12.89M | -21.76M | -22.83M | -50.18M | -42.21M | -17.45M |
| Investing Cash Flow | 741.11K | 488.68K | 2.42M | 1.30M | -40.22M | -12.58M |
| Financing Cash Flow | -1.02M | 21.09M | 29.04M | -1.93M | 105.01M | 43.65M |
Dubber Corporation Limited Technical Analysis
Negative
0.02
Price Trends
0.01
Negative
0.02
Negative
0.02
Negative
Market Momentum
>-0.01
Negative
42.53
Neutral
-55.56
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:DUB, the sentiment is Negative. The current price of 0.02 is above the 20-day moving average (MA) of 0.01, above the 50-day MA of 0.01, and above the 200-day MA of 0.02, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 42.53 is Neutral, neither overbought nor oversold. The STOCH value of -55.56 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:DUB.
Dubber Corporation Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
48 Neutral | AU$30.75M | -173.03 | -2.31% | ― | 2.98% | 93.55% | |
48 Neutral | AU$24.70M | -3.90 | -27.05% | ― | -3.43% | -40.65% | |
46 Neutral | AU$35.24M | -2.96 | -203.17% | ― | 9.14% | 65.30% | |
44 Neutral | AU$36.22M | -1.84 | -62.57% | ― | -38.03% | -11.27% | |
43 Neutral | AU$15.41M | -13.76 | 46.05% | ― | 7.32% | 67.11% | |
39 Underperform | AU$8.03M | -0.46 | 783.67% | ― | -4.90% | -52.78% |
* Technology Sector Average
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Dubber Corporation Limited Corporate Events
Dubber Director Selak Lifts Indirect Stake With On-Market Share Purchase
Mar 25, 2026
Dubber Corporation has disclosed a change in director John Selak’s indirect interest in the company, with his superannuation-related entity KASEL Nominees Pty Ltd acquiring 3,032,806 ordinary fully paid shares on market over 24–25 Marc...
Dubber director boosts indirect shareholding with March on-market purchase
Mar 24, 2026
Dubber Corporation has disclosed a change in director Matthew Bellizia’s interests, detailing a series of indirect holdings across family, superannuation and dependent accounts. The filing outlines his existing substantial share and option p...
Dubber Widens Securities Trading Rules to Cover All Staff
Mar 24, 2026
Dubber Corporation has updated its securities trading policy, extending its scope from key management personnel to all employees, including executive and non-executive directors, officers and staff. The broader policy coverage is aimed at tighteni...
Dubber Director Restructures Indirect Shareholdings Without Changing Overall Stake
Mar 17, 2026
Dubber Corporation has disclosed a change in director Matthew Bellizia’s relevant interests in the company’s securities, reflecting an internal transfer of ordinary fully paid shares. Bellizia disposed of 12 million ordinary shares hel...
Dubber Sets VWAP-Based Share Price for Director Salary Sacrifice Plan
Mar 4, 2026
Dubber Corporation has detailed the pricing for its previously announced director and CEO salary sacrifice scheme, setting the issue price for shares at a VWAP of $0.017292 over the three-month period to 26 February 2026. Under the arrangement, se...
Dubber Narrows Half-Year Loss Despite Revenue Decline
Feb 26, 2026
Dubber Corporation Limited reported interim results for the half year ended 31 December 2025 showing revenue from continuing operations of $18.7 million, a 9% decline compared with the prior corresponding period. The company recorded a net loss at...
Dubber Issues Q2 FY26 Activities Update with Strong Investor Cautions
Jan 27, 2026
Dubber Corporation Limited has released its Q2 FY26 Quarterly Activities Report and Appendix 4C, providing investors with an update on the company’s operations and financial position. The document, approved by the board for ASX release, is p...
Dubber Sets Investor Webinar to Discuss Q2 FY26 Performance
Jan 13, 2026
Dubber Corporation will host an investor webinar on 28 January 2026, led by Managing Director and CEO Matthew Bellizia and Acting CFO Prasad Kasi, to discuss its Q2 FY26 cash flow and quarterly activities. The session underscores the company’...
Dubber Seeks ASX Quotation for 3.45 Million Newly Issued Shares
Jan 7, 2026
Dubber Corporation Limited has applied for quotation on the ASX of 3,453,993 fully paid ordinary shares, issued on 18 December 2025 following the exercise or conversion of existing options or other convertible securities. The move expands the comp...
Dubber Announces Lapse of 135,000 Employee Share Options
Jan 7, 2026
Dubber Corporation Limited has notified the ASX that a tranche of its employee share options has lapsed. The company reported that 135,000 employee share options, listed under ASX code DUBAAQ, ceased on 22 December 2025 because the conditions atta...
Dubber Director Matthew Bellizia Increases Indirect Shareholding
Jan 5, 2026
Dubber Corporation Limited has disclosed a change in director Matthew Bellizia’s relevant interests in the company’s securities, as required under ASX listing rules. Across several transactions completed between 29 December 2025 and 2 ...
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.