Findi (FND) AI Stock Analysis

• Market Cap: €122.06M
• Dividend Yield: N/A
• Average Volume (3M): 228.41K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.99
• Revenue Growth: -2.83%
• EPS Growth: -299.90%
• Country: AU
• Employees: 692
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): -0.13
• Shares Outstanding: 61,801,220
• 10 Day Avg. Volume: 442,254
• 30 Day Avg. Volume: 228,407
• PEG Ratio: 0.04
• Price to Book (P/B): 3.03
• Price to Sales (P/S): 3.20
• P/FCF Ratio: 1.39K
• 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: €5.37
• Price Target Upside: 196.93% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 38 Underperform
• Price Target: AU$2.00 ▲(10.50% Upside)

Findi's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenue, negative profitability, high leverage, and severe cash flow issues. Technical analysis indicates bearish momentum, with the stock trading below key moving averages and showing oversold conditions. Valuation concerns are highlighted by a negative P/E ratio and lack of dividend yield, further weighing down the score.

Findi Business Overview & Revenue Model

Company Description

Findi (FND) is a technology company specializing in the development of advanced search and discovery solutions within the e-commerce and retail sectors. Its core products include a powerful search engine that utilizes artificial intelligence to enhance user experience by providing personalized product recommendations and streamlined navigation. Findi aims to improve the online shopping journey by helping consumers find exactly what they are looking for quickly and efficiently, while also assisting retailers in optimizing their inventory and marketing strategies.

How the Company Makes Money

Findi generates revenue primarily through a subscription-based model, where e-commerce platforms and retailers pay for access to its search technology and analytics tools. Additionally, the company earns money from transaction fees on sales facilitated through its platform, contributing to its overall earnings. Strategic partnerships with major e-commerce platforms and retailers further enhance Findi's visibility and customer base, allowing the company to expand its reach and increase its revenue streams. Advertising services, where brands can promote their products through Findi's search results, also provide a supplementary source of income.

Findi Financial Statement Overview

Summary

Findi faces significant financial challenges across all verticals. The income statement reflects declining revenue and profitability, with negative net income margins. The balance sheet is burdened by high leverage, posing financial risks. Cash flow analysis indicates severe cash generation issues, raising concerns about liquidity. Overall, the company needs to address these financial weaknesses to improve its financial health.

Income Statement

Findi's income statement shows declining revenue with a negative growth rate of -8.21% in the latest year, indicating challenges in maintaining sales momentum. The gross profit margin has decreased significantly from 25.13% to 15.65%, reflecting increased cost pressures or pricing challenges. The net profit margin has turned negative at -20.44%, highlighting profitability issues. Despite a relatively strong EBITDA margin of 51.45%, the overall profitability is concerning due to the negative net income.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 2.32, indicating significant leverage which could pose financial risk. The return on equity is negative at -19.35%, reflecting poor returns for shareholders. However, the equity ratio stands at 19.94%, suggesting a moderate level of equity financing relative to total assets. Overall, the financial stability is weakened by high leverage and negative returns.

Cash Flow

Cash flow analysis shows a dramatic decline in free cash flow growth at -98.90%, indicating severe cash generation issues. The operating cash flow to net income ratio is low at 0.13, suggesting inefficiencies in converting income to cash. The free cash flow to net income ratio is also weak at 0.01, highlighting challenges in generating cash from operations. These factors point to potential liquidity concerns.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	76.26M	61.06M	62.84M	52.13M	4.57M	80.00K
Gross Profit	47.02M	9.56M	12.07M	10.11M	-149.00K	25.00K
EBITDA	47.42M	31.42M	27.50M	18.19M	-10.00K	-404.00K
Net Income	-16.32M	-12.48M	4.01M	2.44M	-1.52M	10.40M
Balance Sheet
Total Assets	323.47M	323.47M	198.37M	107.68M	59.72M	28.99M
Cash, Cash Equivalents and Short-Term Investments	82.92M	82.92M	70.32M	25.89M	23.22M	22.71M
Total Debt	149.66M	149.66M	134.74M	63.33M	22.26M	0.00
Total Liabilities	258.95M	258.95M	161.50M	86.38M	45.66M	8.06M
Stockholders Equity	64.52M	64.52M	36.52M	21.64M	14.83M	20.92M
Cash Flow
Free Cash Flow	140.00K	140.00K	20.05M	-27.52M	-2.24M	-1.51M
Operating Cash Flow	17.50M	17.50M	26.69M	4.67M	-2.19M	-1.43M
Investing Cash Flow	-32.39M	-18.10M	-48.28M	-28.73M	-8.40M	23.93M
Financing Cash Flow	30.84M	16.53M	49.48M	41.13M	-11.39M	-833.00K

Findi Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.81
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:FND, the sentiment is Negative. The current price of 1.81 is below the 20-day moving average (MA) of 2.22, below the 50-day MA of 2.91, and below the 200-day MA of 3.93, indicating a bearish trend. The MACD of -0.31 indicates Positive momentum. The RSI at 32.06 is Neutral, neither overbought nor oversold. The STOCH value of 6.58 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:FND.

Findi Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
B4P	73 Outperform	AU$118.02M	17.66	19.30%	―	13.74%	70.80%
TYR	64 Neutral	AU$566.19M	31.56	8.20%	―	1.06%	-30.96%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
WRK	53 Neutral	AU$256.51M	-84.38	-19.83%	―	10.79%	46.67%
QFE	47 Neutral	AU$43.54M	-9.13	-60.86%	―	24.46%	24.10%
AV1	41 Neutral	€134.01M	-16.29	-485.99%	―	88.69%	46.39%
FND	38 Underperform	€122.06M	-9.61	-23.61%	―	-2.83%	-299.90%

Findi Corporate Events

Findi Limited Reports Robust Growth in ATM Franchises and Digital Transactions

Findi Limited has reported significant growth in its White Label ATM franchise sales, doubling the number of franchises to 1,123 by the end of October 2025. This rapid expansion is supported by potential partnerships with large-scale channel partners in India, which could further accelerate their ATM footprint. Concurrently, Findi’s Bankit digital platform achieved a record annualized Gross Transaction Value of A$5.26 billion, reflecting strong consumer adoption of digital financial services. The platform’s merchant network also expanded, adding 2,244 new merchants in October. This dual growth in physical and digital channels underscores Findi’s strategy to enhance its presence in India’s financial services landscape, with the aim of becoming a Payments bank.

The most recent analyst rating on (AU:FND) stock is a Sell with a A$2.00 price target. To see the full list of analyst forecasts on Findi stock, see the AU:FND Stock Forecast page.

Findi Limited Announces New Securities Issuance

Findi Limited has announced a new issuance of securities, which includes 543,478 performance shares and 978,261 ordinary fully paid shares. This proposed issuance is set to take place on December 22, 2025, and is part of a placement or other type of issue. The announcement indicates Findi’s strategic move to potentially enhance its capital structure, which could impact its market positioning and stakeholder interests.

The most recent analyst rating on (AU:FND) stock is a Sell with a A$2.50 price target. To see the full list of analyst forecasts on Findi stock, see the AU:FND Stock Forecast page.

Findi Acquires Sphere to Bolster Market Position

Findi has announced its acquisition of Sphere, which is expected to enhance its operational capabilities and strengthen its market position in the financial services industry. This strategic move is anticipated to have significant implications for the company’s operations and its stakeholders, potentially increasing its competitive edge in the market.

The most recent analyst rating on (AU:FND) stock is a Sell with a A$2.50 price target. To see the full list of analyst forecasts on Findi stock, see the AU:FND Stock Forecast page.

Findi Secures New Debt Facility and Acquires Sphere to Boost Growth

Findi Limited has announced a series of strategic initiatives to bolster its financial position and operational capabilities. The company has secured a new A$30 million debt facility to replace existing notes and unlock restricted cash, which will support its expansion plans in India, including the rollout of the BC Max branch program and the Brown Label ATM network. Additionally, Findi is set to acquire Sphere, a company specializing in bank-grade loyalty, rewards, and ESG technology, which will enhance its ecosystem and create new revenue opportunities. The acquisition will also strengthen Findi’s ESG credentials ahead of its planned Indian IPO. Despite facing some operational challenges in the first half of FY26, Findi expects a strong rebound in the second half, with significant growth in revenue and EBITDA projected.

The most recent analyst rating on (AU:FND) stock is a Sell with a A$2.50 price target. To see the full list of analyst forecasts on Findi stock, see the AU:FND Stock Forecast page.

Findi Limited Addresses ASX Price Query Amid Social Media Controversy

Findi Limited, a company listed on the ASX, has responded to a price query from the ASX regarding the recent fluctuations in its share price and trading volume. The company stated that it is not aware of any undisclosed information that could explain the recent trading activity. However, it acknowledged that false and misleading comments were made by a former Vice Chairman of its Indian subsidiary on social media, and legal action will be pursued. Findi confirmed its compliance with ASX Listing Rules and that the board has authorized the responses provided.

The most recent analyst rating on (AU:FND) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Findi stock, see the AU:FND Stock Forecast page.

Findi Limited to Announce FY26 Guidance and IPO Plans

Findi Limited, listed on the ASX under the ticker FND, has announced plans to provide a comprehensive market update by the end of October 2025. This update will cover guidance for the fiscal year 2026, progress on the integration of its recent acquisitions in India, and details regarding its strategy and planning for an upcoming IPO. The announcement signifies Findi’s active steps towards expanding its operations and enhancing its market positioning, which could have significant implications for its stakeholders.

The most recent analyst rating on (AU:FND) stock is a Hold with a A$3.00 price target. To see the full list of analyst forecasts on Findi stock, see the AU:FND Stock Forecast page.

Findi Limited Secures Key Resolutions at Annual General Meeting

Findi Limited announced the successful passage of all resolutions at its annual general meeting, including a special resolution for a 10% placement facility. The approval of these resolutions, particularly the placement facility, positions the company for potential growth and expansion, impacting its market strategy and stakeholder interests positively.

The most recent analyst rating on (AU:FND) stock is a Buy with a A$11.39 price target. To see the full list of analyst forecasts on Findi stock, see the AU:FND Stock Forecast page.

Findi Limited Advances Towards Becoming a Comprehensive Payments Bank

Findi Limited has made significant strides in its transformation into a comprehensive payments bank, marked by strategic acquisitions and partnerships in India. The company is preparing for the IPO of its Indian subsidiary, Transaction Solutions International, and has launched initiatives like co-branded BC Max Centres and expanded its ATM network, enhancing its reach in semi-urban and rural areas. These efforts are expected to drive growth and strengthen Findi’s position in the financial services industry, with anticipated stronger earnings and further expansion plans in 2026.

The most recent analyst rating on (AU:FND) stock is a Buy with a A$11.39 price target. To see the full list of analyst forecasts on Findi stock, see the AU:FND Stock Forecast page.

Findi Limited Issues Unquoted Equity Securities

Findi Limited has announced the issuance of unquoted equity securities in the form of options expiring on August 8, 2027, with an exercise price of $4.25. A total of 2,235,295 options will be issued as part of a previously announced transaction, which are not intended to be quoted on the ASX. This move is likely to impact the company’s financial structure and could influence investor perception and market positioning.

The most recent analyst rating on (AU:FND) stock is a Buy with a A$7.17 price target. To see the full list of analyst forecasts on Findi stock, see the AU:FND Stock Forecast page.