Hydrix Limited (HYD) AI Stock Analysis

• Market Cap: AU$4.91M
• Dividend Yield: N/A
• Average Volume (3M): 316.59K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.35
• 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 ▲(70.00% Upside)

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 margin

A 94.44% gross margin indicates strong product-level economics and pricing power for Hydrix's devices and software. Sustained high gross margins provide structural capacity to fund R&D and scale manufacturing profitably if operating expenses are managed.

Diversified revenue streams

Multiple revenue streams—device sales, software, and engineering services—reduce reliance on a single product or client and support recurring and project-based income. This mix can stabilize revenue across cycles and enable cross-selling and long-term customer relationships.

Improving free cash flow growth

A 45% improvement in free cash flow signals progress converting operations into cash, improving financial flexibility. Over months, stronger FCF can reduce external financing needs and support sustained investment in product development and commercialization.

Negative Factors

Negative equity / solvency risk

Negative shareholders' equity is a structural red flag: it limits borrowing capacity, restricts strategic options, and increases insolvency risk. Over the medium term, this weak capital base can constrain growth, force dilutive recapitalizations, or require creditor concessions.

Declining revenue trend

A sustained revenue decline signals challenges in market penetration, pricing, or product demand. Without a reversal, lower top-line momentum limits operating leverage and scale benefits, making it harder to absorb fixed costs and achieve consistent profitability.

Negative operating cash flow and losses

Persistent negative operating cash flow and recurring net losses erode liquidity and require external funding or asset sales. Structurally, this undermines the firm's ability to self-fund R&D, support sales expansion, and sustain operations without repeated financing events.

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

Hydrix Limited is facing significant financial challenges, including declining revenue, persistent losses, and a weak balance sheet with negative equity. Despite some improvement in free cash flow, the negative operating cash flow and profitability metrics indicate ongoing financial instability.

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	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	10.09M	10.09M	10.61M	13.16M	10.33M	7.45M
Gross Profit	9.53M	9.53M	9.79M	-638.73K	-3.31M	-6.46M
EBITDA	-1.40M	-1.40M	-7.92M	1.30M	-4.05M	-6.34M
Net Income	-2.92M	-2.92M	-9.56M	-396.93K	-5.55M	-9.78M
Balance Sheet
Total Assets	8.35M	8.35M	8.62M	14.58M	15.94M	19.38M
Cash, Cash Equivalents and Short-Term Investments	297.88K	297.88K	914.27K	1.15M	1.94M	6.65M
Total Debt	7.98M	7.98M	7.61M	4.73M	5.40M	5.97M
Total Liabilities	14.39M	14.39M	11.98M	8.22M	12.66M	13.67M
Stockholders Equity	-6.04M	-6.04M	-3.36M	6.35M	3.28M	5.71M
Cash Flow
Free Cash Flow	-535.13K	-535.13K	-1.91M	-3.32M	-6.75M	-3.35M
Operating Cash Flow	-527.01K	-527.01K	-1.89M	-3.12M	-6.58M	-2.86M
Investing Cash Flow	-54.20K	-54.20K	-53.43K	-209.71K	-306.65K	-641.56K
Financing Cash Flow	378.60K	-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: Negative
• RSI: Negative
• STOCH: Positive

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 0.01, below the 50-day MA of 0.01, and below the 200-day MA of 0.02, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 73.06 is Negative, neither overbought nor oversold. The STOCH value of -1.96 is Positive, 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%
HYD	44 Neutral	AU$4.91M	-1.34	―	―	-4.86%	64.36%
KNO	42 Neutral	AU$4.76M	-3.06	-23.31%	―	2.15%	-900.00%
X2M	41 Neutral	AU$8.11M	-0.32	―	―	-51.64%	-21.74%
DVL	39 Underperform	AU$39.47M	-17.50	-78.66%	―	-13.40%	4.76%
BCC	38 Underperform	AU$7.35M	-0.54	-135.89%	―	-21.60%	-657.00%
SIS	37 Underperform	AU$8.87M	―	―	―	-26.58%	―

Hydrix Limited Corporate Events

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.

Hydrix Limited Sees Continued Revenue Growth and Expands Internationally

Hydrix Limited reported a strong second consecutive quarter of revenue growth for its Hydrix Services segment, with sales reaching $3.35 million, 80% of which were international. The company added two new clients in the USA and Europe, and its ongoing projects with 15 clients suggest potential future revenue of over $35 million. Hydrix Medical is advancing sales of its cardiac monitoring software, while Gyder Surgical, a Hydrix Venture company, is preparing for its first-in-human surgical cases in the USA and raising capital for market expansion. Despite a $0.57 million operating loss, this marks a 25% improvement from the previous quarter, supported by a $2.5 million Letter of Comfort from major shareholders.

Hydrix Limited Announces 2025 Annual General Meeting Details

Hydrix Limited has announced the details for its upcoming Annual General Meeting, scheduled for November 27, 2025, in Melbourne. Shareholders are encouraged to submit written questions in advance regarding the company’s operations and audit reports. The meeting will provide an opportunity for shareholders to engage with the company’s board and discuss matters such as the Remuneration Report. Voting procedures have been outlined, allowing shareholders to appoint proxies if they cannot attend in person.

Hydrix Limited Releases 2025 Corporate Governance Statement

Hydrix Limited has released its corporate governance statement for the financial year ending June 30, 2025, which is available on their website. The statement outlines the company’s adherence to the ASX Corporate Governance Council’s principles, detailing the roles of the board and management, and the processes for appointing directors. This announcement reaffirms Hydrix’s commitment to transparency and accountability, potentially enhancing investor confidence and stakeholder trust.

Hydrix Limited Unveils Strategic Growth in Annual Report

Hydrix Limited’s annual report highlights its commitment to innovation and growth through its three main divisions: services, ventures, and medical. The report outlines the company’s strategic initiatives and financial performance, emphasizing its efforts to enhance stakeholder value and strengthen its position in the technology industry.