Hydrix Limited (HYD) AI Stock Analysis

• Market Cap: AU$4.64M
• Dividend Yield: N/A
• Average Volume (3M): 316.59K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.22
• Revenue Growth: -4.86%
• EPS Growth: 64.36%
• Country: AU
• Employees: 55
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): >-0.01
• Shares Outstanding: 272,768,860
• 10 Day Avg. Volume: 341,547
• 30 Day Avg. Volume: 316,588
• PEG Ratio: 0.02
• Price to Book (P/B): -0.55
• Price to Sales (P/S): 0.33
• P/FCF Ratio: -6.17
• 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 ▲(60.00% Upside)
• Action: Upgraded Date: 01/10/26
• Date: Action: Upgraded 01/10/26

The score is constrained primarily by weak financial performance, including persistent losses and negative equity. Technicals are comparatively stronger with price above major moving averages and a positive MACD, but overbought RSI limits upside. Valuation is also pressured by a negative P/E and no dividend yield data.

Positive Factors

High gross profit margin

A 94.44% gross margin indicates the core products or services retain strong direct-margin economics. That structural margin provides room to cover fixed costs and fund R&D or sales investment, improving the odds of recovering profitability if revenue stabilizes.

Improving free cash flow growth

A 45.46% improvement in free cash flow growth signals better cash conversion or working-capital management. Sustained FCF improvement is durable because it boosts internal funding capacity, reduces dependency on external financing, and supports reinvestment or deleveraging.

Lean workforce and operating flexibility

A small headcount (55 employees) suggests a lean cost base and operational agility. Over a multi-month horizon this structural lightness can allow faster reallocation of resources, lower fixed payroll burden, and quicker scaling of profitable product lines as demand recovers.

Negative Factors

Negative shareholders' equity

Negative equity reflects accumulated losses and creates solvency and covenant risk. Structurally, it constrains the company's ability to raise equity or debt on favorable terms, increases refinancing risk, and can limit strategic options over the coming months.

Declining revenue trend

A year-over-year revenue decline (-2.24%) signals weakening top-line momentum. Persistently falling revenues reduce operating leverage, strain margins and cash flow, and make it harder to absorb fixed costs—threatening structural viability absent new product or market gains.

Persistent losses and negative operating cash flow

Ongoing net losses and negative operating cash flow mean the business is burning cash despite FCF improvement. Over months this erodes liquidity, forces reliance on external financing, and limits investment in growth initiatives, worsening solvency and strategic flexibility.

Hydrix Limited Business Overview & Revenue Model

Company Description

Hydrix Limited provides product design, engineering, and regulatory services in Australia, Singapore, Europe, North America, and internationally. It operates through two segments: Hydrix Services and Hydrix Medical. It provides cardiovascular products, such as The GUARDIAN, a cardiac monitoring and alerting device that reduces the stresses of living; Phyzhon PHYRARI FFR-Wire enables cardiologists to combine diagnosis procedures with delivery of therapy including stents; and LUDO, a customizable plug-and-play platform that provides critical tools to start MCS pump development. The company also offers a range of services, including product development, regulatory and clinical consulting, and technology commercialization. It serves medical, consumer, industrial, utilities, defense, aerospace, and mining industries. The company was formerly known as Panorama Synergy Limited and changed its name to Hydrix Limited in November 2018. Hydrix Limited was incorporated in 1993 and is headquartered in Mulgrave, Australia

How the Company Makes Money

Hydrix Limited generates revenue through multiple streams, primarily by selling its medical devices and software solutions to hospitals, clinics, and healthcare providers. The company also earns income from engineering services, which include product development and consulting for third-party clients in the medical field. Additionally, Hydrix may establish partnerships with other healthcare technology firms to co-develop products or share expertise, further contributing to its revenue. The company's ability to secure contracts and maintain relationships with key stakeholders in the healthcare industry is crucial for its financial performance.

Hydrix Limited Financial Statement Overview

Summary

Weak fundamentals: declining revenue (-2.24%), negative net profit and EBIT margins, and a balance sheet with negative equity signaling solvency risk. Free cash flow growth improved (45.46%), but operating cash flow remains negative, limiting the benefit.

Income Statement

Hydrix Limited has experienced a decline in revenue over the past year, with a negative revenue growth rate of -2.24%. The company is also facing challenges in profitability, as indicated by a negative net profit margin and EBIT margin. Although the gross profit margin is relatively high at 94.44%, the overall profitability is hindered by significant net losses.

Balance Sheet

The balance sheet reveals a concerning financial structure with negative stockholders' equity, resulting in an undefined debt-to-equity ratio. The company's return on equity is negative, indicating losses relative to shareholder investment. The equity ratio is also negative, highlighting potential solvency issues.

Cash Flow

Hydrix Limited shows some improvement in free cash flow growth at 45.46%, but operating cash flow remains negative, indicating ongoing cash flow challenges. The free cash flow to net income ratio is not meaningful due to negative net income, suggesting difficulties in generating cash relative to earnings.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	10.09M	10.61M	13.16M	10.33M	7.45M
Gross Profit	9.53M	9.79M	-638.73K	-3.31M	-6.46M
EBITDA	-1.40M	-7.92M	1.30M	-4.05M	-6.34M
Net Income	-2.92M	-9.56M	-396.93K	-5.55M	-9.78M
Balance Sheet
Total Assets	8.35M	8.62M	14.58M	15.94M	19.38M
Cash, Cash Equivalents and Short-Term Investments	297.88K	914.27K	1.15M	1.94M	6.65M
Total Debt	7.98M	7.61M	4.73M	5.40M	5.97M
Total Liabilities	14.39M	11.98M	8.22M	12.66M	13.67M
Stockholders Equity	-6.04M	-3.36M	6.35M	3.28M	5.71M
Cash Flow
Free Cash Flow	-535.13K	-1.91M	-3.32M	-6.75M	-3.35M
Operating Cash Flow	-527.01K	-1.89M	-3.12M	-6.58M	-2.86M
Investing Cash Flow	-54.20K	-53.43K	-209.71K	-306.65K	-641.56K
Financing Cash Flow	-36.31K	1.71M	2.16M	1.72M	7.53M

Hydrix Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.01
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:HYD, the sentiment is Positive. The current price of 0.01 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 73.06 is Negative, neither overbought nor oversold. The STOCH value of 166.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:HYD.

Hydrix Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
BCC	50 Neutral	AU$17.72M	-1.31	-135.89%	―	-21.60%	-657.00%
HYD	44 Neutral	AU$4.64M	-1.27	―	―	-4.86%	64.36%
DVL	44 Neutral	AU$35.09M	-6.44	-78.66%	―	-13.40%	4.76%
SIS	43 Neutral	AU$7.60M	―	―	―	-26.58%	―
KNO	42 Neutral	AU$4.32M	-1.57	-23.31%	―	2.15%	-900.00%
X2M	41 Neutral	AU$5.07M	-0.39	―	―	-51.64%	-21.74%

Hydrix Limited Corporate Events

Hydrix Swings to Deeper Half-Year Loss as Project Timing Hits Revenue

Hydrix Limited reported a 14% decline in half-year revenues to $4.84 million for the period ended 31 December 2025, reflecting delays in new client project starts and the completion of existing development programs. The company does not plan to pay a dividend, highlighting a cautious capital stance amid softer operating performance and project timing challenges.

The loss after tax attributable to owners widened sharply to $2.34 million, a 268% deterioration from the prior corresponding period, as net tangible assets per share swung from a positive 1.14 cents to negative 3.37 cents. Cash used in operating activities was marginal at $22,383 versus prior inflows, underscoring tighter operating conditions, while the reviewed interim financial statements confirm the depth of the earnings and balance sheet pressure on shareholders.

The most recent analyst rating on (AU:HYD) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Hydrix Limited stock, see the AU:HYD Stock Forecast page.

Hydrix Corrects Quarterly Cash Flow Filing After Receipts Error

Hydrix Limited has lodged an amended Appendix 4C cash flow report for the quarter ended 31 December 2025 after identifying a typographical error in its previously released document. The correction relates to receipts from customers, which were originally overstated and have now been adjusted, signalling a clarification of the company’s reported operating cash inflows and ensuring stakeholders have accurate financial information for assessing its recent trading performance and cash position.

The most recent analyst rating on (AU:HYD) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Hydrix Limited stock, see the AU:HYD Stock Forecast page.

Hydrix Wins A$2.5m Contract on SynCardia’s Next-Generation Artificial Heart

Hydrix has secured an initial A$2.5 million contract with SynCardia Systems, a subsidiary of Picard Medical, to commence development of the next-generation fully implantable Total Artificial Heart, known as the Emperor. The multi-stage, multiyear program will see Hydrix design the controller and key subsystems using advanced electronics, software, mechanical and safety-critical engineering, reinforcing its credentials in mechanical circulatory support systems and positioning the company as a preferred global partner for complex cardiovascular device development, while SynCardia retains overall system architecture, regulatory and clinical leadership for the platform.

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

Hydrix Limited Announces Cessation of Securities

Hydrix Limited announced the cessation of several securities due to various reasons, including the lapse of conditional rights and the expiry of options without exercise. This move indicates a shift in the company’s financial strategy, potentially impacting its market positioning and stakeholder interests.

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