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iCetana Ltd.
(Sydney:ICE)
iCetana Ltd. (ICE) vs. iShares MSCI Australia ETF (EWA)
iCetana Ltd. Business Overview & Revenue Model
iCetana Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.89M | 1.89M | 3.70M | 1.74M | 1.71M | 1.49M |
| Gross Profit | -1.95M | -1.95M | 2.13M | -1.91M | -2.47M | -1.76M |
| EBITDA | -3.35M | -3.35M | -2.38M | -2.68M | -3.54M | -2.71M |
| Net Income | -2.91M | -2.91M | -1.95M | -2.06M | -3.04M | -2.25M |
Balance Sheet | ||||||
| Total Assets | 5.37M | 5.37M | 2.68M | 2.39M | 3.13M | 2.79M |
| Cash, Cash Equivalents and Short-Term Investments | 3.90M | 3.90M | 1.48M | 994.15K | 2.02M | 1.74M |
| Total Debt | 75.67K | 75.67K | 83.55K | 83.07K | 76.34K | 43.09K |
| Total Liabilities | 2.21M | 2.21M | 1.82M | 1.98M | 1.70M | 1.42M |
| Stockholders Equity | 3.16M | 3.16M | 1.14M | 729.45K | 1.63M | 1.61M |
Cash Flow | ||||||
| Free Cash Flow | -2.47M | -2.47M | -1.58M | -1.56M | -1.93M | -1.07M |
| Operating Cash Flow | -2.42M | -2.42M | -1.54M | -1.39M | -1.91M | -1.03M |
| Investing Cash Flow | -50.43K | -50.43K | -40.39K | -164.13K | -20.06K | -26.01K |
| Financing Cash Flow | 4.92M | 4.92M | 2.07M | 629.76K | 2.44M | -91.18K |
iCetana Ltd. Technical Analysis
iCetana Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
48 Neutral | AU$24.22M | -3.68 | -31.01% | ― | -3.43% | -40.65% | |
44 Neutral | AU$33.01M | -15.00 | ― | ― | 7.32% | 67.11% | |
41 Neutral | AU$47.76M | -6.90 | ― | ― | 21.82% | 6.83% | |
40 Underperform | AU$51.26M | -1.12 | -212.09% | ― | 9.14% | 65.30% | |
38 Underperform | AU$25.53M | -5.45 | -135.50% | ― | -48.98% | -12.82% | |
35 Underperform | AU$85.35M | -15.26 | ― | ― | ― | ― |
iCetana Ltd. Corporate Events
iCetana Ltd. has announced the issuance of unquoted equity securities, specifically options expiring in March 2029 and March 2030, as part of an employee incentive scheme. This move is likely aimed at retaining talent and aligning employee interests with company growth, potentially impacting its operational dynamics and market positioning positively.
iCetana Ltd. announced a change in the director’s interest notice, detailing the acquisition of additional ESIP options by Director Clinton Snow. This update reflects a strategic move to align the director’s interests with the company’s growth prospects, potentially impacting the company’s governance and stakeholder confidence.
iCetana Ltd. has announced a change in the director’s interest, specifically concerning Colm O’Brien. The company disclosed that O’Brien has acquired 562,500 and 187,500 ESIP options, respectively, with no securities disposed of. This change reflects an adjustment in the director’s indirect interests through The Douglas Trust, potentially impacting the company’s governance and stakeholder confidence.
iCetana Ltd. has announced a change in the director’s interest notice, specifically regarding Matthew Macfarlane’s holdings. The update reveals that while there were no disposals or acquisitions of ordinary shares, Macfarlane has been issued additional ESIP options, enhancing his stake in the company. This change reflects a strategic move to potentially align the director’s interests more closely with the company’s long-term goals, which may impact shareholder confidence and market perception.
iCetana Ltd. has announced its FY26 strategy during the AGM presentation led by CEO Kevin Brown on November 24, 2025. The announcement primarily focused on the company’s future plans and objectives, emphasizing the potential risks and uncertainties involved. The company highlighted that any forward-looking statements are based on current assumptions and are subject to change, advising stakeholders not to place undue reliance on these projections.
icetana Limited reported a significant increase in its annual recurring revenue (ARR) by 21% quarter-on-quarter, reaching $2.3 million as of September 2025, largely due to its strategic partnership with SoftBank Robotics. Despite a net operating cash outflow of $1.13 million, the company achieved its strongest quarterly ARR growth and was recognized with an award at the West Australian Export Awards, highlighting its growing presence in the APAC region.
icetana AI has secured its largest Australian sale to date, providing its AI software solution to Millennium Services Group, a major security and cleaning services operator in Australia. This contract, valued at $376,000 over 60 months, will enhance icetana’s annual recurring revenue and strengthen its position in the shopping mall security segment. The deployment is expected next quarter, and the deal highlights the company’s ability to leverage its partnership with SoftBank Robotics for growth.
iCetana Ltd. has announced that its General Meeting of Shareholders will be held on 24 November 2025 in Perth, Western Australia. The company has opted to distribute the Notice of Meeting and accompanying materials electronically, urging shareholders to submit their proxy voting instructions by 22 November 2025. This move underscores iCetana’s commitment to digital communication and efficient shareholder engagement, potentially enhancing participation and operational transparency.
iCetana Ltd. has released a proxy voting form for its upcoming Annual General Meeting scheduled for November 24, 2025. Shareholders are instructed on how to appoint proxies and direct votes on various resolutions, including the adoption of the remuneration report, re-election and election of directors, and approval of placement shares and employee incentive plans. The document outlines the process for submitting proxy forms and provides details on how undirected proxies will be handled by the Chair of the Meeting.
iCetana Ltd. has announced its upcoming annual general meeting scheduled for November 24, 2025, in Perth, Western Australia. The meeting will cover the consideration of the company’s annual report and the adoption of the remuneration report, among other resolutions. Shareholders are encouraged to vote by proxy and submit questions in advance. The meeting will provide an opportunity for shareholders to engage with the company’s financial and operational performance over the past year.
iCetana Ltd. has released its corporate governance statement, emphasizing its commitment to high standards of performance and adherence to the ASX Corporate Governance Council’s Principles and Recommendations. While the company largely aligns with these guidelines, it acknowledges some deviations due to its relatively simple operations and market size. The board ensures these exceptions do not negatively impact shareholder interests, focusing on enhancing shareholder value and proper management.
iCetana Ltd. has released its corporate governance statement for the financial year ending June 30, 2025, which is available on their website. The statement confirms that the company has adhered to the ASX Corporate Governance Council’s principles and recommendations, ensuring transparency and accountability in its management practices. This disclosure is significant for stakeholders as it reinforces iCetana’s commitment to maintaining high governance standards, potentially enhancing its reputation and trust within the industry.
iCetana Ltd. has undergone a significant transition, with a focus on building a resilient, high-margin recurring revenue base. The company reported a decline in total sales revenue due to the absence of non-recurring sales from the previous year, but recurring revenues from SaaS subscriptions and maintenance fees now make up 96% of total revenue. A strategic partnership with SoftBank Robotics Group has been established, granting exclusive distribution rights in Japan and consolidating operations in the Middle East. Financially, iCetana remains robust with net current assets of $3.44 million and no debt, supported by successful share placements. Looking forward, the company aims to leverage partnerships, expand into new industry verticals, and scale its SaaS business model.
icetana AI has announced a material uncertainty regarding its $1.7 million Safe City project in Baghdad due to delays caused by incomplete infrastructure works. The company has not received the initial downpayment and is facing challenges in confirming a revised deployment schedule with its partner, High Tech. The project’s funding is contingent on meeting specific milestones, which are targeted for October 2025, and icetana AI remains part of the project scope despite the risks involved. The company is actively engaging with stakeholders to safeguard its interests and will provide updates as necessary.