iCetana Ltd. (ICE) AI Stock Analysis

• Market Cap: AU$40.15M
• Dividend Yield: N/A
• Average Volume (3M): 2.02M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.63
• Revenue Growth: -36.24%
• EPS Growth: -2.67%
• Country: AU
• Employees: N/A
• Sector: Technology
• Sector Strength: 94
• Industry: Software - Application
• EPS (TTM): >-0.01
• Shares Outstanding: 531,825,900
• 10 Day Avg. Volume: 956,220
• 30 Day Avg. Volume: 2,016,872
• PEG Ratio: -7.98
• Price to Book (P/B): -119.02
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -18.25
• 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: Hold
• Number of Analyst Covering: 0

• Rating: 64 Neutral
• Price Target: AU$0.00 ▼(-100.00%Downside)

The overall score reflects strong technical momentum and robust revenue growth. However, profitability challenges and a weak valuation due to negative earnings are significant concerns. The absence of dividends further impacts its attractiveness to value investors.

iCetana Ltd. Business Overview & Revenue Model

Company Description

iCetana Ltd. (ICE) is a technology company that specializes in providing artificial intelligence-driven video analytics solutions. The company operates in the security and surveillance sector, offering innovative software that helps organizations monitor and manage video feeds in real-time. iCetana's core product leverages machine learning algorithms to detect abnormal activities across multiple video feeds, enabling quicker and more efficient responses to potential security threats.

How the Company Makes Money

iCetana Ltd. generates revenue primarily through the licensing of its AI-powered video analytics software to various organizations, including those in the security, retail, transportation, and infrastructure sectors. The company's revenue model is based on subscription fees for its software-as-a-service (SaaS) offering. Additionally, iCetana may engage in partnerships with security system integrators and hardware manufacturers to enhance their product offerings, potentially leading to additional revenue streams. The company benefits from the growing demand for advanced security solutions driven by global security concerns and technological advancements.

iCetana Ltd. Financial Statement Overview

Summary

iCetana Ltd. is experiencing robust revenue growth, reflecting a strong market position. However, the company faces profitability challenges with negative margins and cash flow issues. While leveraging is minimal, the company needs to focus on improving operational efficiency and achieving profitability to enhance financial sustainability.

Income Statement

iCetana Ltd. shows significant revenue growth with a 112% increase from the previous year, indicating a strong upward trajectory. However, the company is currently facing challenges with negative profit margins, including a gross profit margin of 57.6% and a net profit margin of -52.7%, reflecting ongoing profitability issues. Despite improvements, the EBIT and EBITDA margins remain negative, impacting overall financial health.

Balance Sheet

The company maintains a solid equity position with an equity ratio of 42.5%, showing a stable financial structure. The debt-to-equity ratio is low at 0.07, indicating minimal leverage risk. However, the return on equity is negative due to net losses, affecting overall shareholder returns.

Cash Flow

Operating cash flow remains negative but has shown a slight improvement. Free cash flow is also negative, with limited growth potential in the short term. The company raised financing to support operations, which may not be sustainable long-term. The operating cash flow to net income ratio is -0.79, indicating challenges in converting net income to cash.

Breakdown	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement
Total Revenue	3.70M	1.74M	1.71M	1.49M	1.18M
Gross Profit	2.13M	-1.91M	-2.47M	-1.76M	-2.46M
EBITDA	-2.38M	-2.77M	-3.74M	-2.86M	-3.96M
Net Income	-1.95M	-2.06M	-3.04M	-2.25M	-3.21M
Balance Sheet
Total Assets	2.68M	2.39M	3.13M	2.79M	4.14M
Cash, Cash Equivalents and Short-Term Investments	1.48M	994.15K	2.02M	1.74M	2.64M
Total Debt	83.55K	83.07K	76.34K	43.09K	15.84K
Total Liabilities	1.82M	1.98M	1.70M	1.42M	1.35M
Stockholders Equity	1.14M	729.45K	1.63M	1.61M	3.11M
Cash Flow
Free Cash Flow	-1.58M	-1.56M	-1.93M	-1.07M	-2.97M
Operating Cash Flow	-1.54M	-1.39M	-1.91M	-1.03M	-2.94M
Investing Cash Flow	-40.39K	-164.13K	-20.06K	-26.01K	-30.30K
Financing Cash Flow	2.07M	629.76K	2.44M	-91.18K	5.33M

iCetana Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.08
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ICE, the sentiment is Positive. The current price of 0.08 is above the 20-day moving average (MA) of 0.07, above the 50-day MA of 0.04, and above the 200-day MA of 0.03, indicating a bullish trend. The MACD of 0.01 indicates Positive momentum. The RSI at 60.20 is Neutral, neither overbought nor oversold. The STOCH value of 19.92 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:ICE.

iCetana Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ICE	64 Neutral	AU$40.15M	―	-228.61%	―	-36.24%	-2.67%
Sector *	51 Neutral	AU$1.60B	2.48	-31.50%	3.04%	16.21%	-7.40%
XF1	50 Neutral	AU$39.62M	―		―	0.40%	66.36%
AMX	46 Neutral	AU$19.95M	―	-24.21%	―	-11.35%	-49.13%
FLX	43 Neutral	AU$44.16M	―	-1801.55%	―	27.94%	28.75%
DUB	37 Underperform	AU$57.75M	―	-131.93%	―	15.31%	61.52%
NVU	35 Underperform	AU$61.78M	―	-243.28%	―	-32.45%	33.72%

iCetana Ltd. Corporate Events

iCetana Ltd. Announces Change in Substantial Holder Interests

iCetana Ltd. has announced a change in the interests of a substantial holder, Macnica, Inc., and its subsidiaries. The change occurred due to the issuance of 96,683,262 new ordinary shares in a placement to a third party, which resulted in a decrease in Macnica’s voting power from 18.06% to 14.88%. This development may impact iCetana’s shareholder structure and influence its strategic decisions moving forward.

Lance East Holdings’ Voting Power in iCetana Ltd Diminishes

Lance East Holdings Pty Ltd has experienced a change in its substantial holding in iCetana Ltd, a company listed under the ticker ICE. The change occurred due to a dilution resulting from the placement of 93,683,262 shares to a third party, reducing Lance East Holdings’ voting power from 37.46% to 30.86%. This shift in voting power may impact the company’s governance dynamics and influence within iCetana Ltd.

iCetana Ltd. Announces Change in Substantial Holder Interests

iCetana Ltd. has announced a change in the interests of its substantial holder, Skiptan Pty Ltd. The change involves the issuance of 96,683,262 new ordinary shares in a placement to a third party, which has resulted in a decrease in Skiptan Pty Ltd.’s voting power from 11.57% to 9.53%. This adjustment in voting power may influence the company’s governance and decision-making processes, potentially affecting its strategic direction and stakeholder interests.

Softbank Robotics Acquires Substantial Stake in icetana Limited

Softbank Robotics Singapore Pte. Ltd. (SBRS) has become a substantial holder in icetana Limited (ICE), acquiring a 17.61% voting power through the purchase of 93,683,262 fully paid ordinary shares. This acquisition, completed on June 13, 2025, involves a cash consideration of $1,873,665, indicating a significant investment by SBRS in ICE, potentially impacting the company’s market positioning and stakeholder interests.

iCetana Ltd. Issues Shares to SoftBank Robotics

iCetana Ltd. has issued 93,683,262 fully paid ordinary shares to SoftBank Robotics Singapore Pte. Ltd. as part of a placement announced earlier. This strategic move, disclosed under the Corporations Act, signifies a significant capital infusion that could enhance iCetana’s operational capabilities and market positioning.

iCetana Ltd. Announces Quotation of New Securities on ASX

iCetana Ltd. has announced the quotation of 93,683,262 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of June 13, 2025. This move is part of a previously announced transaction, potentially enhancing the company’s market presence and liquidity, which could positively impact its stakeholders and industry positioning.

iCetana Ltd. Announces Proposed Securities Issue

iCetana Ltd. has announced a proposed issuance of 93,683,262 ordinary fully paid securities, with the issue date set for June 13, 2025. This move is part of a strategic placement or other type of issue, potentially impacting the company’s market positioning by increasing its capital base, which could be used for further development and expansion. The announcement is significant for stakeholders as it indicates potential growth and investment opportunities.

icetana AI Secures A$3.6 Million Partnership with SoftBank Robotics

icetana AI has entered into a strategic partnership with SoftBank Robotics Group, valued at over A$3.6 million. This partnership includes a significant equity investment by SoftBank Robotics Singapore, which will acquire a 17.6% stake in icetana AI, and appoints SoftBank Robotics Corp. as the exclusive distributor in Japan. The collaboration aims to drive commercial growth, product innovation, and regional expansion, leveraging SoftBank’s established market presence. The agreements also include a joint product development program to integrate icetana’s AI analytics with SoftBank’s automation and security solutions, highlighting a strategic move to strengthen icetana’s industry positioning and market reach.

iCetana Ltd. Announces Cessation of Securities Due to Unmet Conditions

iCetana Ltd. announced the cessation of certain securities due to the lapse of conditional rights that were not met. This development involves the expiration of options with various expiration dates and exercise prices, totaling 1.5 million securities. The cessation may impact the company’s capital structure and investor perceptions, as it reflects unmet conditions for these securities.

icetana Achieves Milestone Quarter with Major Contract and Financial Stability

icetana Limited announced a milestone quarter with a successful $2.65 million rights issue and a significant $1.7 million contract for a Safe City project in Iraq, marking the largest transaction in its history. The company reported a stable financial performance with a 1% increase in annualized recurring revenue and a reduction in net operating cash outflow, while also expanding its market presence in the Middle East and the US.