InteliCare Holdings Limited (ICR) AI Stock Analysis

• Market Cap: AU$11.82M
• Dividend Yield: N/A
• Average Volume (3M): 1.91M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.67
• Revenue Growth: 241.34%
• EPS Growth: 44.19%
• Country: AU
• Employees: N/A
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Information Services
• EPS (TTM): >-0.01
• Shares Outstanding: 621,890,140
• 10 Day Avg. Volume: 3,223,113
• 30 Day Avg. Volume: 1,908,177
• PEG Ratio: 0.02
• Price to Book (P/B): -3.27
• Price to Sales (P/S): 2.85
• P/FCF Ratio: -1.63
• 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 ▼(-5.00% Downside)
• Action: Upgraded Date: 12/30/25
• Date: Action: Upgraded 12/30/25

The score is primarily held down by weak financial performance: structurally negative gross profit, ongoing net losses and cash burn, and negative equity that raises financing risk. Technical signals are mixed-to-soft with neutral RSI but negative MACD, while valuation is also constrained by negative earnings and no dividend support.

Positive Factors

Revenue Rebound

A 45% revenue rebound in FY2025 signals recovering demand and product/service traction. Durable top-line growth provides the company a platform to leverage fixed costs, support investment in scaling, and gives management time to address unit economics toward durable profitability.

Narrowing Losses

Progressive narrowing of losses versus prior years suggests operating improvements and better cost control. This trend indicates management is making structural adjustments, which improves the odds of reaching breakeven within several quarters if revenue growth continues and margins further improve.

Cash Accounting Alignment

Free cash flow closely tracking net income means reported losses reflect real cash outflows rather than large non‑cash charges. This alignment improves cash forecasting accuracy, reduces risk of hidden accounting distortions, and makes capital‑planning and investor dialogue more transparent over the medium term.

Negative Factors

Negative Gross Profit

Persistent negative gross profit indicates the core unit economics are broken: revenue does not cover direct costs. Without structural changes to pricing, cost base, or product mix, sustainable margins are unlikely, making long‑term profitability dependent on material operational change.

Negative Equity

Negative and worsening shareholders' equity materially reduces financial flexibility and raises recapitalization risk. It increases dependence on external funding, heightens dilution risk for existing shareholders, and can impair access to favourable credit or supplier terms over the medium term.

Persistent Cash Burn

Consistent negative operating and free cash flow mean the business requires ongoing financing to sustain operations. This persistent cash burn elevates refinancing risk, constrains investment in growth or product development, and increases the likelihood of dilutive capital raises absent rapid margin improvement.

InteliCare Holdings Limited Business Overview & Revenue Model

Company Description

Intelicare Holdings Limited engages in the sale of a predictive analytics hardware and software package for use in the aged care and health industries in Australia. The company offers InteliLiving for seniors and people with disability; and produces monitoring solution for seniors and at-risk individuals. Intelicare Holdings Limited was founded in 2016 and is headquartered in Leederville, Australia.

How the Company Makes Money

InteliCare Holdings Limited generates revenue through the sale and subscription of its technology solutions, primarily the InteliLiving system. The company offers these products directly to consumers as well as to aged care providers and healthcare facilities. Revenue streams include one-time sales of hardware devices, such as sensors and monitoring equipment, and ongoing subscription fees for access to its software platform and data analytics services. Additionally, InteliCare may engage in partnerships with healthcare providers and institutions to expand its market reach and enhance product offerings, contributing to its revenue growth.

InteliCare Holdings Limited Financial Statement Overview

Summary

Despite a strong FY2025 revenue rebound (+45.3% YoY), profitability and cash generation remain very weak: gross profit is negative across reported years, FY2025 net loss is large (-2.24m) with deeply negative net margin (-234.6%), operating/free cash flow are consistently negative, and shareholders’ equity is negative and worsening (FY2025: -0.83m), increasing financing/recapitalization risk.

Income Statement

Revenue rebounded strongly in FY2025 (up 45.3% YoY), but profitability remains very weak. Gross profit is negative across all reported years, and FY2025 still shows a large net loss (-2.24m) with deeply negative net margin (-234.6%), indicating the core cost structure is not yet scaling with revenue. Losses have narrowed versus FY2022–FY2023, but the business is still far from breakeven.

Balance Sheet

The balance sheet has deteriorated materially: shareholders’ equity turned negative in FY2024 and worsened in FY2025 (-0.83m), which reduces financial flexibility and increases recapitalization risk. Debt is moderate in absolute terms (0.72m in FY2025), but negative equity makes leverage metrics distorted and highlights that liabilities meaningfully outweigh the equity base. Total assets also declined from FY2020–FY2025, suggesting a shrinking asset base while losses persist.

Cash Flow

Cash generation remains a key weakness with consistently negative operating cash flow and free cash flow every year. FY2025 operating cash flow (-1.67m) and free cash flow (-1.67m) were slightly worse than FY2024, and free cash flow growth in FY2025 was negative (-9.2%). A positive is that free cash flow has roughly tracked net income (free cash flow to net income ~1.0), indicating losses are not being significantly masked by non-cash accounting—but the company still requires ongoing funding to sustain operations.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	945.45K	956.74K	280.29K	404.35K	429.85K	363.12K
Gross Profit	-1.24M	-1.09M	-1.79M	-2.69M	-2.75M	-1.99M
EBITDA	-2.70M	-2.16M	-3.02M	-2.89M	-3.78M	-4.24M
Net Income	-2.84M	-2.24M	-2.26M	-3.00M	-3.93M	-4.36M
Balance Sheet
Total Assets	1.64M	1.02M	1.52M	2.48M	2.88M	3.43M
Cash, Cash Equivalents and Short-Term Investments	1.05M	410.53K	834.20K	1.94M	2.27M	2.67M
Total Debt	1.09M	716.62K	612.39K	726.57K	18.25K	85.16K
Total Liabilities	1.86M	1.86M	1.69M	1.53M	1.34M	842.64K
Stockholders Equity	-222.63K	-833.17K	-168.32K	949.11K	1.54M	2.59M
Cash Flow
Free Cash Flow	-2.56M	-1.67M	-1.66M	-3.11M	-3.14M	-3.86M
Operating Cash Flow	-2.55M	-1.67M	-1.66M	-3.10M	-3.10M	-3.79M
Investing Cash Flow	-6.45K	-7.09K	0.00	-14.35K	-32.92K	-74.79K
Financing Cash Flow	2.35M	1.25M	555.65K	2.78M	2.73M	2.34M

InteliCare Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
EMD	49 Neutral	AU$38.71M	-4.21	-81.30%	―	-36.68%	79.41%
ICR	44 Neutral	AU$11.82M	-2.48	―	―	241.34%	44.19%
TD1	43 Neutral	AU$2.38M	-1.11	-29.86%	―	―	78.95%
SHG	43 Neutral	AU$77.34M	-6.64	―	―	―	―
GLH	42 Neutral	AU$4.17M	-1.98	―	―	-9.90%	34.07%
HIQ	40 Underperform	AU$10.09M	-0.96	―	―	-40.05%	-49.57%

InteliCare Holdings Limited Corporate Events

InteliCare Half-Year Loss Widens as Revenue Dips and Balance Sheet Remains Weak

InteliCare Holdings Limited reported a weaker half-year result for the period ended 31 December 2025, with revenue from ordinary activities slipping 2.3% to $489,707 while its after-tax loss widened 77.1% to $1,367,939 compared with the prior corresponding period. The company did not declare any dividends and reported negative net tangible assets of 0.03 cents per share, underscoring ongoing financial pressure and highlighting the need for improved scale or funding to strengthen its balance sheet and progress toward sustainable operations.

The interim financial statements were reviewed by RSM Australia Partners, with the review report included in the company’s half-year financial report. The latest figures indicate that despite maintaining operations, InteliCare is still in a loss-making phase, which may concern investors focused on near-term profitability and capital position.

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

InteliCare Advances Aged-Care Deployments and Nears CEO Appointment

InteliCare reported steady operational progress in the December 2025 quarter, advancing commercial discussions with major aged care provider mecwacare toward a broader agreement to deploy its platform across 22 residential facilities and expanding its rollout within the Hardi Aged Care network, where implementation has begun at a fourth site, Seven Hills. The company has received around $980,000 of the $1.7 million in contracted hardware and implementation revenue from Hardi and is now collecting recurring SaaS fees from initial sites, while also strengthening its sales pipeline, enhancing product capabilities such as nurse call integration and real-time location features, and nearing completion of a CEO recruitment process to support its next phase of commercial growth and scale.

The most recent analyst rating on (AU:ICR) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on InteliCare Holdings Limited stock, see the AU:ICR Stock Forecast page.

InteliCare Posts Quarterly Cash Outflow but Ends December with Stronger Cash Balance

InteliCare Holdings Limited reported a net operating cash outflow of A$706,000 for the quarter ended 31 December 2025, with customer receipts of A$121,000 outweighed by staff, administration, manufacturing, and marketing expenses. The company offset these operating losses through financing activities, including A$180,000 in equity raised during the quarter and a total of A$2.0 million in equity proceeds plus A$400,000 in borrowings over the half year, resulting in a net increase in cash and cash equivalents and leaving InteliCare with A$1.75 million in cash at the end of the period, underscoring its continued dependence on external capital to sustain operations.

The most recent analyst rating on (AU:ICR) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on InteliCare Holdings Limited stock, see the AU:ICR Stock Forecast page.

InteliCare Confirms Compliance and Transparency on New Performance Rights Issue

InteliCare Holdings Limited has notified the market that it has issued performance rights and confirms it remains in full compliance with its financial reporting and continuous disclosure obligations under the Corporations Act. The company states there is no undisclosed price-sensitive information that investors or their advisers would reasonably require to assess its financial position, prospects, or the rights attached to its fully paid ordinary shares, reinforcing transparency around the new performance rights issuance for shareholders and the broader market.

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

InteliCare Plans Issue of 4.5 Million Performance Rights

InteliCare Holdings Limited has announced a proposed issue of up to 4.5 million performance rights (ASX code: ICRAP). The issue, structured as a placement or other type of securities issue and scheduled for 9 January 2026, signals the company’s intention to use equity-based instruments, likely as part of its capital management or incentive arrangements, with potential dilution implications for existing shareholders once the rights vest and convert into quoted securities.

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

InteliCare Director Increases Stake, Signaling Confidence in Growth

InteliCare Holdings Limited announced a change in the director’s interest, with Neale Fong acquiring an additional 4,500,000 performance rights, increasing his total to 18,500,000. This change, approved by shareholders at the AGM, indicates a strengthened commitment from the director, potentially impacting the company’s strategic direction and signaling confidence in its future growth.

InteliCare Holdings Limited Proposes New Securities Issue

InteliCare Holdings Limited announced a proposed issue of 15 million performance rights as part of a new securities placement. This move is likely aimed at strengthening the company’s financial position and supporting its strategic initiatives, potentially impacting its market presence and offering benefits to stakeholders.

InteliCare Holdings Limited Issues Fully Paid Ordinary Shares

InteliCare Holdings Limited has issued fully paid ordinary shares and has complied with relevant provisions of the Corporations Act, including continuous disclosure requirements. The company confirms that there is no undisclosed information that investors would need for an informed assessment of the company’s financial position or the rights attached to the shares.

InteliCare Holdings Limited Announces Quotation of New Securities

InteliCare Holdings Limited has announced the quotation of 11,498,798 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of December 8, 2025. This move is part of previously announced transactions and reflects the company’s ongoing efforts to strengthen its financial position and enhance market presence, potentially impacting its operational capabilities and stakeholder interests.