Tempo Australia Ltd (H2G) AI Stock Analysis

• Market Cap: AU$6.12M
• Dividend Yield: N/A
• Average Volume (3M): 1.16M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.70
• Revenue Growth: N/A
• EPS Growth: 47.06%
• Country: AU
• Employees: N/A
• Sector: Utilities
• Sector Strength: 65
• Industry: Electrical Equipment & Parts
• EPS (TTM): 0.00
• Shares Outstanding: 764,661,200
• 10 Day Avg. Volume: 1,596,587
• 30 Day Avg. Volume: 1,160,002
• PEG Ratio: 0.14
• Price to Book (P/B): 1.82
• Price to Sales (P/S): 3.88
• P/FCF Ratio: -6.20
• 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: 46 Neutral
• Price Target: AU$0.01 ▲(0.00% Upside)
• Action: Reiterated Date: 02/28/26
• Date: Action: Reiterated 02/28/26

The score is primarily held down by multi-year losses and sustained negative operating/free cash flow, despite the benefit of very low leverage on the balance sheet. Technical indicators also lean weak (RSI ~35, negative MACD), and a negative P/E with no dividend data further limits valuation support.

Positive Factors

Low Leverage / Financial Flexibility

Very low debt relative to equity meaningfully reduces solvency risk and preserves optionality. Over the next several months this balance-sheet strength gives management runway to invest in operations, secure working capital, or raise funds on better terms without immediate distress.

Revenue Rebound in 2025

A sharp revenue rebound indicates renewed demand or successful commercial actions. If sustained, top-line recovery can enable operating leverage and scale efficiencies, creating a pathway to improved margins over 2–6 months if cost structure or pricing is adjusted appropriately.

Historic Ability to Generate Positive Cash/Profit

A prior profitable year shows the business model can generate positive cash and earnings under some conditions. That historical precedent provides a realistic operational blueprint for management to target — a durable indicator that profitability is achievable rather than impossible.

Negative Factors

Sustained Multi-Year Losses

Five consecutive years of operating and net losses signal structural profitability issues. Continued losses erode equity, limit retained-capital reinvestment, and increase reliance on external funding, which impairs long-term strategic flexibility and heightens execution risk.

Negative Operating and Free Cash Flow

Persistent negative operating and free cash flow mean the core business consumes cash rather than funds itself. This undermines the company's ability to fund capex, inventory, or growth organically and increases dilution or refinancing risk over the medium term if cash burn continues.

Negative Margins and Poor Returns

Negative gross profit and materially negative returns on equity indicate cost structure or pricing failures. Even with rising revenue, inability to convert sales into positive margins prevents durable improvement in earnings and free cash flow until structural cost or mix issues are resolved.

Tempo Australia Ltd Business Overview & Revenue Model

Company Description

Greenhy2 Limited operates as a designer and provider of renewable energy solutions in Australia. It operates through Asset Maintenance and Service; and Construction & Electrical Project Work segments. The company offers shutdown services; preventative maintenance services, such as switchboard inspections, thermographic scanning, generator servicing, lightning protection, power factor correction, and UPS maintenance; and compliance services, including RCR testing, emergency exit lighting, appliance test and tagging, failure point analysis, auditing, and certification. It also provides planned and reactive maintenance services comprising emergency breakdown, lighting repairs, automation, minor works/small projects, CTV/MATV, and data and communication; and project services to manage electrical, instrumentation, and communication projects. The company was formerly known as Tempo Australia Limited and changed its name to Greenhy2 Limited in November 2022. Greenhy2 Limited was incorporated in 2000 and is based in Sydney, Australia.

How the Company Makes Money

Tempo Australia Ltd makes money through its comprehensive service offerings in the construction and maintenance industries. The company's revenue model is based on providing EPCM services to clients in sectors such as resources, energy, and infrastructure. Key revenue streams include contracts for construction and maintenance projects, where Tempo Australia Ltd is responsible for the design, procurement, and management of various development initiatives. Partnerships with major industry players and long-term contracts significantly contribute to its earnings by ensuring a steady flow of projects and client engagements.

Tempo Australia Ltd Financial Statement Overview

Summary

Despite a low-leverage balance sheet, financial performance is constrained by persistent operating/net losses (2021–2025) and ongoing cash burn with negative operating cash flow and free cash flow over the same period. The 2025 revenue rebound did not translate into improved margins or profitability.

Income Statement

Profitability is weak across the period, with consistent operating and net losses from 2021–2025 (annual), including deeply negative margins in 2024 and still very negative margins in 2025 (annual). Revenue rebounded sharply in 2025 (annual) versus 2024, but the company did not translate that rebound into improved earnings power, as gross profit turned negative and losses remained roughly the same magnitude. The only clear profitable year shown is 2020 (annual), which appears non-recurring given subsequent multi-year losses.

Balance Sheet

Leverage is low, with debt-to-equity consistently around ~0.01–0.02 in recent years, which reduces financial risk and provides flexibility. However, returns on equity are materially negative from 2021–2025 (annual), reflecting ongoing losses and weak capital efficiency. Equity remains sizeable relative to debt, but continued losses could pressure the balance sheet over time if not reversed.

Cash Flow

Cash generation is a key concern: operating cash flow and free cash flow are negative from 2021–2025 (annual), indicating the core business is consuming cash rather than funding itself. While free cash flow to net income is generally above 1.0 in the loss years (suggesting losses are not purely non-cash), cash burn remains substantial, and operating cash flow relative to net income is negative in those periods. 2020 (annual) was positive for both operating cash flow and free cash flow, but the trend since then has deteriorated.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.33M	43.11K	139.84K	292.82K	14.98M
Gross Profit	-263.71K	43.11K	139.84K	-2.10M	11.99M
EBITDA	-971.27K	-1.14M	-1.73M	-2.41M	-261.44K
Net Income	-974.35K	-1.16M	-1.75M	-2.51M	-4.22M
Balance Sheet
Total Assets	3.42M	3.48M	3.38M	5.24M	10.83M
Cash, Cash Equivalents and Short-Term Investments	676.46K	1.04M	1.00M	2.25M	3.97M
Total Debt	41.91K	43.03K	49.19K	49.92K	1.06M
Total Liabilities	576.80K	653.44K	377.54K	483.73K	4.72M
Stockholders Equity	2.85M	2.83M	3.00M	4.75M	6.11M
Cash Flow
Free Cash Flow	-833.20K	-793.51K	-1.25M	-3.41M	-2.27M
Operating Cash Flow	-831.17K	-551.91K	-426.62K	-2.55M	-1.26M
Investing Cash Flow	-532.05K	-241.59K	-821.12K	-103.60K	-176.00K
Financing Cash Flow	988.29K	832.50K	-729.00	930.47K	-1.23M

Tempo Australia Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
FOS	62 Neutral	AU$10.65M	-6.82	7.76%	4.00%	3.94%	45.76%
H2G	46 Neutral	AU$6.12M	-5.30	-35.32%	―	―	47.06%
RFT	43 Neutral	AU$4.15M	-0.44	-4.55%	―	-39.95%	-220.00%
EGY	38 Underperform	AU$10.00M	-0.46	―	―	-37.44%	10.36%

Tempo Australia Ltd Corporate Events

GreenHy2 files Appendix 4G, confirms updated ASX governance compliance

GreenHy2 Limited has lodged its Appendix 4G with the ASX for the year ended 31 December 2025, confirming that its updated corporate governance statement is available on its website and current as of 26 February 2026. The filing outlines the company’s adherence to key ASX Corporate Governance Council recommendations, including maintaining a formal board charter, conducting checks on directors and senior executives, and ensuring the company secretary reports directly to the board, underscoring its focus on transparent oversight and compliance.

The disclosures indicate GreenHy2 has implemented written agreements with all directors and senior executives and has aligned its governance practices with ASX requirements for annual reporting. By clearly mapping where its governance information can be found and affirming board approval of the statement, the company provides investors with greater visibility into its management framework, which may support stakeholder confidence in its governance standards and regulatory compliance.

The most recent analyst rating on (AU:H2G) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Tempo Australia Ltd stock, see the AU:H2G Stock Forecast page.

GreenHy2 Narrows Loss as It Pivots From Hydrogen to Battery and Supercapacitor Technologies

GreenHy2 Limited reported a 1,411% jump in revenue and other income for the year to 31 December 2025, largely driven by government grants that funded its research and development, while narrowing its net loss after tax by 16% to $974,347. Despite a 36% fall in year-end cash to $666,457, a subsequent capital raising lifted available cash to about $1.1 million, though net tangible asset backing per share halved to 0.07 cents.

During the year the company executed a major strategic shift, expanding beyond its original hydrogen offerings to prioritise PowerSafe sodium-ion and LFP battery systems and high-tech supercapacitors, as sentiment toward hydrogen’s role in the energy transition weakened. Hydrogen has been relegated to a secondary product line, with GreenHy2 positioning its battery and supercapacitor portfolio as core growth drivers across residential, commercial, industrial, utility and data-centre markets.

The most recent analyst rating on (AU:H2G) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Tempo Australia Ltd stock, see the AU:H2G Stock Forecast page.

GreenHy2 Raises Equity via Placement to Institutional and Sophisticated Investors

GreenHy2 Limited has raised capital by issuing 69,931,207 fully paid ordinary shares at $0.009 each to institutional and sophisticated investors under a placement using its existing ASX Listing Rule 7.1 capacity. The company confirmed the shares were issued without a disclosure document under Part 6D.2 of the Corporations Act and stated it is compliant with its financial reporting and continuous disclosure obligations, with no excluded information, providing comfort to investors about regulatory transparency and governance.

The placement strengthens GreenHy2’s financial position as it advances its portfolio of renewable energy storage technologies, spanning graphene-based batteries, hydrogen storage, and fuel cell systems. By tapping institutional and sophisticated investors while affirming ongoing Corporations Act compliance, GreenHy2 reinforces its standing as a key Australian innovator in renewable energy engineering and signals continuity in its strategic development activities.

The most recent analyst rating on (AU:H2G) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Tempo Australia Ltd stock, see the AU:H2G Stock Forecast page.

Greenhy2 Seeks ASX Quotation for 69.9 Million New Shares

Greenhy2 Limited has applied to the ASX for quotation of 69,931,207 new fully paid ordinary shares under the ticker H2G, with an issue date of 10 February 2026. The move significantly expands the company’s quoted share base and reflects the formalisation of securities previously flagged to the market, potentially enhancing liquidity for investors and supporting the funding of its hydrogen‑focused growth plans.

The application under Appendix 2A confirms that these securities arise from transactions earlier outlined in an Appendix 3B, signalling the conversion of prior commitments into tradable equity. For stakeholders, the enlarged capital structure may dilute existing holdings but could also provide Greenhy2 with a stronger platform for capital raising and execution of its clean energy strategy as it seeks to strengthen its market position.

The most recent analyst rating on (AU:H2G) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Tempo Australia Ltd stock, see the AU:H2G Stock Forecast page.

GreenHy2 plans ASX share placement of up to 6.9 million shares

GreenHy2 Limited has notified the ASX of a proposed issue of up to 6,901,126 ordinary fully paid shares, to be undertaken as a placement or similar type of capital raising. The new securities are expected to be issued on 22 May 2026, reinforcing the company’s reliance on equity markets to fund its activities and potentially affecting existing shareholders through dilution while providing fresh capital for its operations.

The company has applied for the new shares to be quoted on the ASX in accordance with the exchange’s listing rules and standard Appendix processes. This step formalises GreenHy2’s intention to expand its listed capital base, positioning it to access additional investor demand and potentially improve liquidity in its stock once the issue is completed.

The most recent analyst rating on (AU:H2G) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Tempo Australia Ltd stock, see the AU:H2G Stock Forecast page.

Greenhy2 plans major share placement with nearly 28 million new shares

Greenhy2 Limited has notified the ASX of its intention to issue up to 27,777,778 new ordinary fully paid shares under a proposed placement or similar equity offering. The proposed issue is scheduled for 22 May 2026 and will be quoted under the company’s existing H2G ticker, subject to ASX requirements.

The share issue signals a planned capital raising that could support Greenhy2’s future growth initiatives, balance sheet needs, or project funding, though specific use of proceeds is not disclosed. Existing shareholders may face dilution depending on the final pricing and allocation, while the placement could broaden the company’s investor base and enhance its market visibility.

The most recent analyst rating on (AU:H2G) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Tempo Australia Ltd stock, see the AU:H2G Stock Forecast page.

GreenHy2 plans major share placement to fund hydrogen growth

GreenHy2 Limited has lodged an Appendix 3B with the ASX outlining a proposed issue of up to 69,931,207 new fully paid ordinary shares. The securities are to be issued via a placement or similar mechanism, with the issue date recorded as 10 February 2026, indicating a substantial prospective capital raising that could support the company’s hydrogen-focused growth plans and broaden its shareholder base.

The planned placement underscores GreenHy2’s need for fresh equity funding as it pursues opportunities in the hydrogen energy market. While pricing and use of proceeds were not disclosed, the scale of the proposed issuance suggests potential dilution for existing investors, balanced against the prospect of enhanced financial capacity to advance projects and strengthen its competitive position in the sector.

The most recent analyst rating on (AU:H2G) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Tempo Australia Ltd stock, see the AU:H2G Stock Forecast page.

GreenHy2 Books First Sodium-Ion Revenue as Pipeline Builds and Telstra Project Nears Completion

GreenHy2 reported its first revenue from sodium‑ion battery sales in the December quarter and said its residential sales pipeline for sodium‑ion products has grown to about $2 million, supported by three new product‑focused websites. The company is prioritising the build‑out of national distribution and installation capabilities, pursuing Clean Energy Council certification for sodium‑ion systems, and leveraging its strategic partnership with Skeleton Technologies to win data centre and critical infrastructure projects, while the Telstra TDRIP rollout nears completion and positions H2G for further hydrogen, sodium‑ion and supercapacitor work.

The most recent analyst rating on (AU:H2G) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Tempo Australia Ltd stock, see the AU:H2G Stock Forecast page.

GreenHy2 Limited Announces Director Departure

GreenHy2 Limited (H2G) announced that Charles Louis Rottier has ceased to be a director of the company as of December 2, 2025. The notice highlights that Mr. Rottier holds 625,000 fully paid ordinary shares through the Rottier Super Fund. This change in directorship may impact the company’s governance structure, but no immediate implications for stakeholders or operations were detailed in the release.

The most recent analyst rating on (AU:H2G) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Tempo Australia Ltd stock, see the AU:H2G Stock Forecast page.