Findi (FND) AI Stock Analysis

• Market Cap: AU$101.05M
• Dividend Yield: N/A
• Average Volume (3M): 228.41K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.60
• Revenue Growth: 21.65%
• EPS Growth: -463300.00%
• Country: AU
• Employees: 692
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): -0.38
• 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: AU$5.46
• Price Target Upside: 232.86% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 39 Underperform
• Price Target: AU$1.50 ▼(-8.54% Downside)

Findi's overall stock score is significantly impacted by its poor financial performance, which is the most critical factor. The company's declining revenue, negative profitability, high leverage, and severe cash flow issues are major concerns. Additionally, technical analysis indicates a bearish trend with oversold conditions, and the valuation is unattractive due to a negative P/E ratio and lack of dividends. These factors collectively result in a low overall stock score.

Positive Factors

Business Model

The subscription-based model provides a stable and predictable revenue stream, enhancing long-term financial stability and customer retention.

Strategic Partnerships

Partnerships with major platforms expand market reach and customer base, fostering revenue growth and competitive positioning in the e-commerce sector.

Product Innovation

Utilizing AI for search solutions positions Findi as an innovator, potentially driving demand and differentiation in the competitive tech landscape.

Negative Factors

Revenue Decline

A decline in revenue indicates challenges in maintaining sales momentum, which can impact long-term growth and market competitiveness.

High Leverage

High leverage poses financial risks, limiting flexibility and increasing vulnerability to economic downturns, affecting long-term financial health.

Cash Flow Issues

Severe cash flow issues can lead to liquidity problems, affecting the company's ability to invest in growth opportunities and meet financial obligations.

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	91.99M	61.06M	62.84M	52.13M	4.57M	80.00K
Gross Profit	222.00K	9.56M	12.07M	10.11M	-149.00K	25.00K
EBITDA	36.84M	31.42M	27.50M	18.19M	-10.00K	-404.00K
Net Income	-33.20M	-12.48M	4.01M	2.44M	-1.52M	10.40M
Balance Sheet
Total Assets	300.32M	323.47M	198.37M	107.68M	59.72M	28.99M
Cash, Cash Equivalents and Short-Term Investments	39.27M	82.92M	70.32M	25.89M	23.22M	22.71M
Total Debt	164.52M	149.66M	134.74M	63.33M	22.26M	0.00
Total Liabilities	257.71M	258.95M	161.50M	86.38M	45.66M	8.06M
Stockholders Equity	42.62M	64.52M	36.52M	21.64M	14.83M	20.92M
Cash Flow
Free Cash Flow	-40.25M	140.00K	20.05M	-27.52M	-2.24M	-1.51M
Operating Cash Flow	941.00K	17.50M	26.69M	4.67M	-2.19M	-1.43M
Investing Cash Flow	-60.89M	-18.10M	-48.28M	-28.73M	-8.40M	23.93M
Financing Cash Flow	63.40M	16.53M	49.48M	41.13M	-11.39M	-833.00K

Findi Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.64
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• 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 1.64 is above the 20-day moving average (MA) of 1.61, below the 50-day MA of 1.86, and below the 200-day MA of 3.43, indicating a neutral trend. The MACD of -0.06 indicates Negative momentum. The RSI at 39.28 is Neutral, neither overbought nor oversold. The STOCH value of <0.01 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	71 Outperform	AU$135.45M	19.37	19.30%	―	13.74%	70.80%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
TYR	58 Neutral	AU$533.39M	29.65	8.20%	―	1.06%	-30.96%
WRK	52 Neutral	AU$228.01M	-75.00	-19.83%	―	10.79%	46.67%
QFE	50 Neutral	AU$28.55M	-5.95	-60.86%	―	24.46%	24.10%
AV1	41 Neutral	AU$120.15M	-14.61	-485.99%	―	88.69%	46.39%
FND	39 Underperform	AU$101.05M	-3.53	-74.16%	―	21.65%	-463300.00%

Findi Corporate Events

Findi Limited Requests Voluntary Suspension Pending Strategic Investment Announcement

Findi Limited, listed on the Australian Securities Exchange under the ticker FND, has requested a voluntary suspension of its securities from quotation. This suspension is pending an announcement regarding a strategic investment into the company. The suspension is intended to help manage the company’s continuous disclosure obligations and will remain in place until either the announcement is made or normal trading resumes on December 8, 2025. This move indicates a significant development for Findi Limited, potentially impacting its market position and stakeholder interests.

Findi Limited Initiates Trading Halt Ahead of Strategic Investment Announcement

Findi Limited, listed on the Australian Securities Exchange (ASX) under the ticker FND, has requested a trading halt for its securities. This halt is in anticipation of a forthcoming announcement regarding a strategic investment into the company. The trading halt is intended to help Findi manage its continuous disclosure obligations and will remain in place until the announcement is made or normal trading resumes on December 3, 2025.

Findi Limited Reports Strong Revenue Growth and Strategic Expansion

Findi Limited reported a 51% increase in revenue for the first half of FY26, driven by the integration of acquisitions BankIT and TCPSL. Despite facing challenges such as delays in ATM deployments and one-off costs, the company is poised for a strong second half with a new funding facility and strategic shifts towards scalable business models. The company is building momentum towards an FY27 IPO, with a focus on expanding its digital capabilities and increasing market penetration in India.

Findi Limited Announces Virtual Extraordinary General Meeting for 2025

Findi Limited, an Australian company, has announced that its 2025 Extraordinary General Meeting will be held virtually on December 29, 2025. Shareholders are encouraged to participate by appointing proxies and voting on proposed resolutions. The company has provided details for virtual attendance and proxy submission, emphasizing the importance of shareholder engagement and flexibility in meeting arrangements.

Findi Limited Announces Virtual Extraordinary General Meeting

Findi Limited has announced an Extraordinary General Meeting scheduled for December 29, 2025, to be held virtually. Shareholders are encouraged to submit their proxies early and can participate in the meeting online, where they will have the opportunity to ask questions and vote on proposed resolutions. This approach underscores Findi’s commitment to accessible shareholder engagement and reflects its adaptation to digital communication methods.

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.

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.

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.

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.

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.

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.