Flexiroam Ltd (FRX) AI Stock Analysis

• Market Cap: AU$31.85M
• Dividend Yield: N/A
• Average Volume (3M): 208.46K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.23
• Revenue Growth: -11.11%
• EPS Growth: -71.43%
• Country: AU
• Employees: 50
• Sector: Communication Services
• Sector Strength: 97
• Industry: Telecommunications Services
• EPS (TTM): >-0.01
• Shares Outstanding: 1,516,718,000
• 10 Day Avg. Volume: 24,470
• 30 Day Avg. Volume: 208,457
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: AU$0.02 ▼(-20.00% Downside)

Flexiroam Ltd's overall stock score is primarily impacted by its weak financial performance, characterized by declining revenues and profitability. While there is some positive short-term technical momentum, the valuation remains unattractive due to negative earnings and no dividend yield.

Positive Factors

Partnerships and Collaborations

Strategic partnerships can enhance customer acquisition and provide bundled service opportunities, supporting long-term revenue growth.

Product Offering

A diverse product range catering to international travelers positions Flexiroam to capture a niche market, supporting sustained demand.

Equity Improvement

Improvement in equity suggests potential stabilization of financial health, which could enhance investor confidence if sustained.

Negative Factors

Revenue Decline

Declining revenue indicates challenges in maintaining market share or demand, which could hinder long-term growth prospects.

Profitability Challenges

Ongoing profitability issues suggest operational inefficiencies or pricing pressures, impacting long-term financial sustainability.

Cash Flow Difficulties

Negative cash flows limit the ability to invest in growth opportunities and may necessitate external financing, affecting financial stability.

Flexiroam Ltd Business Overview & Revenue Model

Company Description

Flexiroam Ltd (FRX) is a technology company that specializes in providing global mobile data solutions for travelers. The company operates primarily in the telecommunications sector and offers a range of products, including mobile data SIM cards, eSIM technology, and data plans that enable users to stay connected while traveling internationally without incurring exorbitant roaming charges. Flexiroam's core services cater to both individual travelers and businesses, enhancing connectivity and communication for users across various regions worldwide.

How the Company Makes Money

Flexiroam generates revenue primarily through the sale of mobile data products, including physical SIM cards and eSIMs, which allow users to access mobile data services in multiple countries. The company's revenue model includes subscription plans and pay-as-you-go options that cater to different user needs. Key revenue streams are derived from the direct sale of these data plans, along with any additional services such as data top-ups and international calling features. Flexiroam also partners with various telecommunications providers and travel-related businesses, which can lead to increased customer acquisition and opportunities for bundled services, further enhancing its earnings potential.

Flexiroam Ltd Financial Statement Overview

Summary

Flexiroam Ltd is facing significant financial challenges, with declining revenues and profitability, coupled with cash flow difficulties. Despite some improvements in equity, the overall financial health remains weak.

Income Statement

Flexiroam Ltd has experienced a significant decline in revenue with a negative growth rate of -28.58% in the latest period. The company is struggling with profitability, as indicated by negative net profit and EBIT margins. Despite a positive gross profit margin, the overall financial health in terms of income is weak, with consistent losses over the years.

Balance Sheet

The balance sheet shows a moderate level of debt relative to equity, but the company has a history of negative equity, which is concerning. The equity ratio is low, indicating potential financial instability. However, there has been some improvement in stockholders' equity, which could be a positive sign if sustained.

Cash Flow

Flexiroam Ltd's cash flow situation is challenging, with negative operating and free cash flows. The free cash flow growth rate is slightly positive, but the operating cash flow to net income ratio is negative, indicating cash flow issues. The company needs to improve its cash generation capabilities to support operations and growth.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	16.57M	13.58M	15.27M	2.76M	3.67M	2.52M
Gross Profit	5.21M	8.04M	6.47M	1.45M	1.48M	-986.37K
EBITDA	1.25M	593.93K	1.26M	3.28M	-4.00M	-2.34M
Net Income	-1.94M	-2.00M	-1.06M	3.00M	-4.19M	-2.39M
Balance Sheet
Total Assets	7.94M	7.94M	7.11M	7.09M	4.71M	3.41M
Cash, Cash Equivalents and Short-Term Investments	1.64M	1.64M	492.84K	1.30M	4.21M	2.81M
Total Debt	808.93K	808.93K	400.00K	0.00	0.00	3.43K
Total Liabilities	5.46M	5.46M	7.20M	8.21M	6.71M	6.79M
Stockholders Equity	2.49M	2.49M	-80.75K	-1.12M	-1.99M	-3.38M
Cash Flow
Free Cash Flow	-4.21M	-3.09M	-3.02M	-1.91M	-61.30K	-538.52K
Operating Cash Flow	-4.20M	-3.08M	-1.06M	-1.62M	16.96K	-538.52K
Investing Cash Flow	-704.02K	-637.03K	-1.95M	-291.90K	-78.26K	2.33K
Financing Cash Flow	6.41M	4.98M	2.30M	-69.00	4.25M	2.89M

Flexiroam Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
FSG	52 Neutral	―	―	―	―	―	―
FRX	44 Neutral	AU$31.85M	-9.58	-166.02%	―	-11.11%	-71.43%
5GG	43 Neutral	AU$8.66M	-2.04	-18.92%	―	8.20%	37.20%
HFY	42 Neutral	AU$3.58M	-6.25	-11.62%	―	-9.44%	83.16%
NOR	42 Neutral	AU$7.92M	-10.77	―	―	66.48%	77.19%
VN8	41 Neutral	AU$26.34M	-38.89	-3.77%	―	-7.05%	75.68%

Flexiroam Ltd Corporate Events

Flexiroam Chair to Step Down as Company Extends CEO Loan and Updates Registered Office

Flexiroam has announced that Non-Executive Chair Tat Seng Koh will resign from the board effective 31 December 2025, with the company acknowledging his service since 2018 and leadership over the past year. The company also extended its $750,000 unsecured loan agreement with CEO Jef Ong to 13 November 2026 on unchanged terms, signalling continued support from management as Flexiroam pursues improved profitability and scalable growth opportunities, and it has updated its registered office address in Western Australia while keeping its principal place of business and other contact details unchanged.

Flexiroam Appoints PKF Brisbane Audit as New Auditor

Flexiroam Limited has announced the appointment of PKF Brisbane Audit as its new auditor, following the resignation of In.Corp Audit & Assurance and a tender process aimed at optimizing external audit services. This decision, deemed beneficial for the company and shareholders, reflects Flexiroam’s commitment to operational improvements and positioning itself for future growth. Shareholders will formally approve the new auditor appointment at the next annual general meeting.

FlexiRoam Unveils AI-Powered eSIM Agent, Pioneering Agentic Commerce

FlexiRoam has launched the world’s first AI-powered eSIM agent, marking a significant milestone in its strategic roadmap. This new platform, which integrates AI into connectivity services, positions FlexiRoam at the forefront of the ‘Agentic Commerce’ revolution and the growing eSIM market. The launch is expected to enhance consumer and enterprise experiences by offering frictionless onboarding and rapid deployment of co-branded eSIM solutions, potentially accelerating the company’s revenue growth and strengthening its industry position.

Flexiroam Ltd Announces Cessation of Securities

Flexiroam Ltd has announced the cessation of certain securities, including 680,584 ordinary fully paid shares and several options expiring in June 2028. The cessation is due to the lapse of conditional rights to these securities, as the conditions have not been met or have become incapable of being satisfied. This announcement may impact the company’s capital structure and could have implications for its stakeholders, as it reflects adjustments in the company’s financial instruments and obligations.

Flexiroam Ltd Announces Director’s Acquisition of Options

Flexiroam Ltd has announced a change in the director’s interest, with Director Kenn Tat (Jefrey) Ong acquiring 40 million unquoted options exercisable at $0.005 each, following shareholder approval at the recent annual general meeting. This strategic move is expected to strengthen the company’s leadership alignment with its growth objectives and may influence investor confidence in Flexiroam’s future prospects.

Flexiroam Ltd Issues 28 Million Employee Options

Flexiroam Ltd has announced the issuance of 28 million unquoted employee options as part of an employee incentive scheme. This move is likely aimed at retaining talent and aligning employee interests with company performance, potentially impacting the company’s operational dynamics and stakeholder relations positively.

Flexiroam Ltd Issues 40 Million Director Options

Flexiroam Ltd has announced the issuance of 40 million unquoted director options as part of their employee incentive scheme. This move is likely to enhance the company’s ability to retain key personnel and align their interests with the company’s long-term goals, potentially impacting its operational strategy and market positioning.

Flexiroam Limited Announces AGM Results with Key Resolutions Passed

Flexiroam Limited announced the results of its annual general meeting, where all resolutions except one were passed, including a special resolution. The withdrawal of Resolution 2 was due to the conditions not being met. These outcomes reflect the company’s strategic decisions and governance, potentially impacting its operational and market strategies.

Flexiroam Ltd Issues 100 Million Employee Options to Boost Engagement

Flexiroam Ltd announced the issuance of 100 million unquoted employee options as part of an incentive scheme. This move aims to enhance employee engagement and align their interests with the company’s growth objectives, potentially strengthening Flexiroam’s market position and operational capabilities.

Flexiroam Ltd Achieves Record Cash Flow and Sustained Profitability in Q1 FY26

Flexiroam Ltd has reported a record positive operating cash flow for Q1 FY26, marking a significant turnaround in its financial performance. This achievement is attributed to the completion of a legacy payables settlement program and a successful business transformation, which has led to sustained profitability and a strengthened balance sheet. The company is poised to continue its growth trajectory with the upcoming launch of its AI-assisted connectivity platform, which is expected to further bolster its market position.

Flexiroam Appoints Grant Wong as New CFO to Drive Growth

Flexiroam Limited has appointed Mr. Grant Wong as its new Chief Financial Officer, effective October 1, 2025. Mr. Wong, who has been consulting for the company for six months, brings over 18 years of experience in finance, operations, and capital markets, enhancing the company’s leadership for its next growth phase. His background in ASX capital markets and previous roles in investment banking and fintech positions him as a strategic leader to drive long-term shareholder value.