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Inoviq Ltd (AU:IIQ)
ASX:IIQ
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Inoviq Ltd (IIQ) AI Stock Analysis

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AU:IIQ

Inoviq Ltd

(Sydney:IIQ)

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Underperform 38 (OpenAI - 4o)
Rating:38Underperform
Price Target:
AU$0.50
▲(38.89% Upside)
Inoviq Ltd's overall stock score is significantly impacted by its poor financial performance, characterized by declining revenues and profitability issues. Technical analysis indicates a bearish trend with oversold conditions, while valuation metrics highlight the lack of profitability and dividend yield. These factors collectively result in a low stock score, suggesting caution for potential investors.

Inoviq Ltd (IIQ) vs. iShares MSCI Australia ETF (EWA)

Inoviq Ltd Business Overview & Revenue Model

Company DescriptionINOVIQ Ltd engages in the research, development, and commercialization of diagnostic and exosome-based products to enhance the diagnosis and treatment of cancer and other diseases in Australia and the United States. The company offers hTERT test, an immunocytochemistry test used as an adjunct to urine cytology testing for bladder cancer; and EXO-NET for capturing and isolating exosomes from liquid biopsy sample. Its cancer diagnostic pipeline includes blood tests in development for ovarian, breast, and other cancers. The company was formerly known as BARD1 Life Sciences Limited and changed its name to INOVIQ Ltd in December 2021. INOVIQ Ltd was incorporated in 1983 and is headquartered in Notting Hill, Australia.
How the Company Makes MoneyInoviq generates revenue through the commercialization of its diagnostic products and services. The primary revenue streams include sales from its proprietary tests and assays, which are utilized in clinical laboratories and healthcare settings. Additionally, the company may engage in partnerships with pharmaceutical companies and research institutions for the development and distribution of its diagnostic technologies. Licensing agreements and collaborations for research and development also contribute to its earnings, allowing Inoviq to monetize its intellectual property and expand its market reach.

Inoviq Ltd Financial Statement Overview

Summary
Inoviq Ltd shows promising revenue growth but faces significant profitability challenges, as evidenced by negative profit margins. The balance sheet is strong with low leverage, but declining assets and equity could pose future risks. The cash flow statement reflects improvements but still indicates cash flow difficulties, requiring careful management to ensure sustainability.
Income Statement
25
Negative
Inoviq Ltd has shown consistent revenue growth, with total revenue increasing from AUD 398,193 in 2023 to AUD 535,118 in 2024, marking a significant growth rate of 34.37%. However, the company is struggling with profitability, reflected in negative gross profit, EBIT, and net income margins. The net profit margin remains negative at -1224.84%, indicating significant operational challenges.
Balance Sheet
45
Neutral
The company's balance sheet is relatively stable with a strong equity position. The debt-to-equity ratio is low at 0.02, indicating minimal leverage. The equity ratio is robust at 92.04%, showcasing a solid foundation. However, the declining total assets and stockholders' equity over time suggest potential future liquidity challenges.
Cash Flow
30
Negative
Inoviq Ltd has demonstrated an improvement in free cash flow, reducing the negative free cash flow from AUD -7,316,841 in 2023 to AUD -4,497,261 in 2024. The operating cash flow to net income ratio is negative, reflecting ongoing operational cash flow challenges. Despite a significant financing cash flow, the negative free cash flow indicates continued cash burn.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue1.82M1.82M535.12K398.19K276.75K1.27M
Gross Profit-1.56M-1.56M454.11K-1.04M-1.88M-2.21M
EBITDA-6.16M-6.16M-6.63M-9.32M-19.39M-6.05M
Net Income-6.93M-6.93M-6.55M-8.97M-18.20M-11.15M
Balance Sheet
Total Assets18.46M18.46M21.71M21.51M30.78M33.52M
Cash, Cash Equivalents and Short-Term Investments6.52M6.52M9.23M7.81M15.39M5.00M
Total Debt376.19K376.19K403.74K730.71K998.69K1.26M
Total Liabilities1.74M1.74M1.72M1.89M2.49M4.46M
Stockholders Equity16.71M16.71M19.99M19.62M28.29M29.06M
Cash Flow
Free Cash Flow-4.77M-4.77M-4.50M-7.32M-6.47M-6.05M
Operating Cash Flow-4.66M-4.66M-4.32M-7.02M-6.06M-5.26M
Investing Cash Flow-104.00K-104.00K-174.34K-292.27K-411.90K2.64M
Financing Cash Flow2.05M2.05M5.91M-267.98K16.87M286.48K

Inoviq Ltd Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.36
Price Trends
50DMA
0.39
Negative
100DMA
0.39
Negative
200DMA
0.40
Negative
Market Momentum
MACD
-0.02
Positive
RSI
43.87
Neutral
STOCH
50.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IIQ, the sentiment is Negative. The current price of 0.36 is below the 20-day moving average (MA) of 0.37, below the 50-day MA of 0.39, and below the 200-day MA of 0.40, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 43.87 is Neutral, neither overbought nor oversold. The STOCH value of 50.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:IIQ.

Inoviq Ltd Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
AU$28.91M-97.79%23.85%
AU$180.75M-111.23%12.96%40.81%
$7.86B-0.30-43.30%2.27%22.53%-2.21%
AU$82.91M-4.04-36.16%62.81%16.37%
AU$30.97M-7.29-501.54%56.42%
AU$48.57M-37.78%2.33%12.50%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:IIQ
Inoviq Ltd
0.35
-0.11
-23.91%
AU:BDX
BCAL Diagnostics Limited
0.09
-0.02
-18.18%
AU:RHY
Rhythm Biosciences Ltd.
0.10
0.00
0.00%
AU:LDX
Lumos Diagnostics Holdings Ltd.
0.20
0.16
400.00%
AU:GSS
Genetic Signatures Ltd.
0.32
-0.35
-52.24%

Inoviq Ltd Corporate Events

INOVIQ Limited Appoints New Director with Significant Holdings
Oct 20, 2025

INOVIQ Limited has announced the appointment of Peter Gunzburg as a director effective from October 20, 2025. The initial director’s interest notice reveals that Gunzburg holds significant interests in the company through various entities, including Supergun Pty Ltd, Trovex Pty Ltd, and Rivista Pty Ltd, with holdings in ordinary shares and listed options. This appointment and the disclosed interests may influence the company’s governance and strategic direction, potentially impacting shareholder value and market perception.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

INOVIQ Ltd Issues New Shares to Bolster Financial Capacity
Oct 16, 2025

INOVIQ Ltd has issued 27,142,856 fully paid ordinary shares at an issue price of A$0.35 per share, utilizing its existing placement capacity. This strategic move is part of the company’s efforts to enhance its financial resources, potentially impacting its operations and industry positioning by supporting its ongoing and future projects in cancer diagnostics and therapeutics.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

INOVIQ Ltd Appoints Peter Gunzburg as Non-Executive Director
Oct 16, 2025

INOVIQ Ltd has appointed Peter Gunzburg as a Non-Executive Director, effective October 20, 2025. Gunzburg, who has extensive experience as a public company director and investor, previously served as Chairman of BARD1 Life Sciences Limited, now INOVIQ Ltd. His appointment follows a request by Tian An Medicare Limited, a key investor in INOVIQ’s recent capital raise. Gunzburg’s return is seen as a strategic move to leverage his knowledge of the company’s technology and direction, particularly as INOVIQ advances its exosome-based diagnostics and therapeutics. The company is focused on achieving key development and commercial milestones, with its EXO-OC™ test poised to become a leading solution for ovarian cancer screening.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

Inoviq Ltd Launches Share Purchase Plan for Australian and New Zealand Shareholders
Oct 16, 2025

Inoviq Ltd has announced a Share Purchase Plan (SPP) allowing eligible shareholders in Australia and New Zealand to purchase up to A$30,000 worth of shares without incurring additional transaction costs. This initiative aims to strengthen the company’s capital base by offering shares that will rank equally with existing ones, providing shareholders with the same rights and entitlements. The offer is not available to investors in the United States, and the company advises shareholders to rely on their own knowledge and seek advice if necessary before participating.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

INOVIQ Completes Share Placement and Launches Share Purchase Plan
Oct 16, 2025

INOVIQ Limited has successfully completed the issuance of over 27 million fully paid ordinary shares to institutional and sophisticated investors. Additionally, the company has launched a Share Purchase Plan (SPP) offering existing shareholders in Australia and New Zealand the opportunity to purchase new shares at $0.35 each, aiming to raise up to $2 million. This initiative is part of INOVIQ’s strategy to enhance its financial position and support its ongoing advancements in cancer diagnostics and therapeutics.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

Inoviq Ltd Announces Quotation of New Securities on ASX
Oct 16, 2025

Inoviq Ltd has announced the quotation of 27,142,856 ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code IIQ. This move is part of a previously announced transaction, potentially impacting the company’s market presence and offering stakeholders an opportunity to engage with the company’s securities.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

Inoviq Ltd Confirms SPP Issue Date for Securities
Oct 13, 2025

Inoviq Ltd has announced an update regarding its proposed issue of securities, confirming the date of 5 November 2025 as the Securities Purchase Plan (SPP) issue date. This update is part of the company’s ongoing efforts to manage its securities offerings and ensure compliance with the ASX Listing Rules, which may impact its market operations and stakeholder interests.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

Inoviq Ltd Announces Proposed Securities Issue to Support Strategic Growth
Oct 13, 2025

Inoviq Ltd has announced a proposed issue of securities, including a securities purchase plan and a placement, with a total of 32,857,146 ordinary fully paid securities to be issued. This move is aimed at raising capital to support the company’s operations and strategic initiatives, potentially impacting its market position and offering opportunities for stakeholders.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

INOVIQ Ltd Announces Capital Raise to Boost Cancer Diagnostics Development
Oct 13, 2025

INOVIQ Ltd has announced a capital raise to support its ongoing development in the field of next-generation cancer diagnostics and therapeutics. This move is expected to enhance the company’s operational capabilities and strengthen its position in the competitive cancer diagnostics market, potentially benefiting stakeholders by accelerating the development of its innovative technologies.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

INOVIQ Secures A$9.5 Million to Advance Ovarian Cancer Test Development
Oct 13, 2025

INOVIQ Limited has successfully raised A$9.5 million through a placement to institutional and sophisticated investors, with an additional A$2 million targeted through a share purchase plan (SPP). The funds will accelerate the clinical validation and commercialization of the EXO-OC™ ovarian cancer test and the preclinical development of a therapeutic program for solid tumors. Tian An Medicare Limited, a Hong Kong-listed company, has committed A$5 million as a cornerstone investor, highlighting the strategic importance of INOVIQ’s test in improving women’s health outcomes. The investment will also facilitate the test’s commercialization in China, leveraging Tian An Medicare’s extensive healthcare network. This capital raising is expected to enhance INOVIQ’s market position and achieve key milestones for stakeholders.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

Inoviq Ltd Initiates Trading Halt for Proposed Capital Raising
Oct 9, 2025

Inoviq Ltd has requested a trading halt on its securities, pending an announcement regarding a proposed capital raising. This halt is expected to last until the announcement is made or until the commencement of trading on October 13, 2025. The trading halt indicates a strategic move by Inoviq Ltd to potentially strengthen its financial position, which could have implications for its market operations and investor relations.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

INOVIQ Ltd Schedules 2025 Annual General Meeting
Oct 2, 2025

INOVIQ Ltd has announced its Annual General Meeting (AGM) scheduled for November 27, 2025, with a deadline for director nominations set for October 9, 2025. This announcement is part of the company’s ongoing governance and operational activities, potentially impacting its strategic direction and stakeholder engagement.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

INOVIQ’s CAR-T Exosome Platform Shows Promise in Cancer Therapy
Oct 1, 2025

INOVIQ Ltd has announced the publication of proof-of-concept data demonstrating the efficacy of its engineered CAR-T-exosomes in killing cancer cells and the scalability of its EXO-ACE manufacturing platform. The study, published in the Journal of Visualized Experiments, highlights the potential of INOVIQ’s CAR-exosome therapies to transform cancer treatment by offering a cell-free approach to target and destroy solid tumors, with potential advantages in safety, efficacy, and cost over traditional cell therapies.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

INOVIQ Secures Global License for Ovarian Cancer Biomarker
Sep 26, 2025

INOVIQ Ltd has secured an exclusive worldwide license from UniQuest to develop and commercialize novel exosomal biomarkers for early detection of ovarian cancer. This license supports the development of INOVIQ’s EXO-OC test, which has shown high sensitivity and specificity in detecting early-stage ovarian cancer. The company plans to commercialize the test as a Laboratory Developed Test in the US, with further global expansion following regulatory approvals. This strategic move is expected to enhance INOVIQ’s market position and potentially revolutionize ovarian cancer detection, offering significant value to stakeholders.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

INOVIQ’s CAR-NK-Exosomes Show Promising Results in Breast Cancer Treatment
Sep 22, 2025

INOVIQ Ltd announced positive results from in vitro studies of its CAR-NK-exosome therapeutic candidate, which demonstrated potent anti-tumor activity against Triple Negative Breast Cancer (TNBC) cells. The study, conducted at the Peter MacCallum Cancer Centre, showed that over 90% of TNBC cells were killed within 10 hours of treatment, highlighting the potential of CAR-NK-exosomes as a next-generation, cell-free therapy for solid tumors. These findings pave the way for further in vivo studies and clinical development, potentially impacting the company’s operations and positioning in the cancer treatment industry.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

INOVIQ Ltd Releases 2025 Annual Report
Sep 18, 2025

INOVIQ Ltd has released its Annual Report for 2025, highlighting its focus on next-generation diagnostics and therapeutics for cancer. The report provides a comprehensive overview of the company’s financial performance, governance, and operational strategies, which are crucial for stakeholders to understand the company’s current position and future prospects.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

Inoviq Ltd Releases 2025 Corporate Governance Statement
Aug 22, 2025

Inoviq Ltd has released its corporate governance statement for the financial year ending June 30, 2025, which is available on their website. The statement, approved by the board, outlines the company’s adherence to the ASX Corporate Governance Council’s recommendations, detailing the roles and responsibilities of the board and management, and the processes for appointing directors and senior executives. This announcement reinforces Inoviq’s commitment to transparency and accountability, potentially strengthening its position in the market by ensuring stakeholders of its robust governance practices.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

Inoviq Ltd Reports Increased Losses Despite Revenue Growth
Aug 22, 2025

Inoviq Ltd reported a slight increase in revenue from ordinary operations for the fiscal year ending June 30, 2025, with a 2.3% rise compared to the previous year. However, the company experienced a greater net loss after tax, which increased by 5.8%, and a total comprehensive loss that rose by 7.2%. No dividends were declared or proposed for the fiscal year, and the net tangible asset backing per ordinary share decreased from the previous year.

The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.

INOVIQ Achieves Key Milestones in Cancer Diagnostics and Therapeutics
Jul 31, 2025

INOVIQ Limited announced significant advancements in its ovarian cancer diagnostic and breast cancer therapeutic programs. The EXO-OC test demonstrated 100% sensitivity for early-stage ovarian cancer detection, offering a promising non-invasive screening option. Additionally, the CAR-exosome candidate showed 88% effectiveness in killing cancer cells in vitro, indicating potential for solid tumor treatment. These developments position INOVIQ as a leader in cancer diagnostics and therapeutics, with plans to accelerate the commercial availability of its ovarian cancer test and further develop its therapeutic programs.

INOVIQ Ltd to Showcase at Key Investor Events
Jul 28, 2025

INOVIQ Ltd announced its participation in upcoming investor events, including the MST Financial Small Cap Spotlight webinar on July 30, 2025, and the TechKnow Invest Roadshow in Melbourne on August 19, 2025. These events will provide a platform for INOVIQ to present its exosome diagnostic and therapeutic portfolio, potentially enhancing its visibility and engagement with investors, which could positively impact its market positioning and stakeholder relations.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Oct 22, 2025