Spirit Technology Solutions Ltd. (AU:ITS)
ASX:ITS
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Spirit Technology Solutions Ltd.
(Sydney:ITS)
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Rating:45Neutral
Price Target:
AU$0.40
â–¼(-28.18% Downside)
Action:Reiterated
Date:03/24/26
The score is held back primarily by weak cash generation (negative and worsening operating/free cash flow) and declining revenue despite improved margins and a return to positive EBIT/EBITDA. Technicals add a modest headwind with price below key longer-term moving averages and negative MACD, while valuation offers limited support given the negative P/E and no provided dividend yield.
Positive Factors
Operating profitability recovered (EBIT/EBITDA positive)
EBIT and EBITDA turning positive signals the business has reached operating breakeven on core activities, reflecting durable cost control and operational improvements. Sustained positive operating profits improve resilience, reduce dependence on external funding, and make future cash conversion more achievable.
Negative Factors
Negative and worsening operating and free cash flow
Persistent negative operating and free cash flow is a structural weakness: it forces reliance on external financing, increases dilution or refinancing risk, and prevents the firm from self-funding working capital or growth. Without sustained cash conversion, accounting profits remain fragile.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating profitability recovered (EBIT/EBITDA positive)
EBIT and EBITDA turning positive signals the business has reached operating breakeven on core activities, reflecting durable cost control and operational improvements. Sustained positive operating profits improve resilience, reduce dependence on external funding, and make future cash conversion more achievable.
Read all positive factors
Spirit Technology Solutions Ltd. (ITS) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$78.34M
Dividend YieldN/A
Average Volume (3M)27.33K
Price to Earnings (P/E)―
Beta (1Y)0.06
Revenue Growth-30.24%
EPS Growth-52.96%
CountryAU
Employees36
SectorCommunication Services
Sector Strength97
IndustryInformation Technology Services
Share Statistics
EPS (TTM)-0.01
Shares Outstanding193,432,190
10 Day Avg. Volume39,418
30 Day Avg. Volume27,331
Financial Highlights & Ratios
PEG Ratio0.63
Price to Book (P/B)0.81
Price to Sales (P/S)0.78
P/FCF Ratio-31.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.58Price Target Upside5.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.03
Revenue Forecast (FY)AU$71.60M
Spirit Technology Solutions Ltd. Business Overview & Revenue Model
Company Description
Infotrust Ltd engages in the provision of cyber security, and technology services and solutions in Australia. The company operates through three segments: Cloud and Communication, Cyber Security, and Secure Managed Technology. The Cyber Security s...
How the Company Makes Money
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Spirit Technology Solutions Ltd. Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
67
Positive
Cash Flow
34
Negative
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 102.39M | 125.85M | 127.11M | 135.34M | 102.79M |
| Gross Profit | 15.87M | 11.61M | 12.60M | 12.24M | 13.35M |
| EBITDA | 7.75M | -6.23M | -8.22M | -46.22M | 8.62M |
| Net Income | -1.37M | -10.55M | -11.39M | -53.17M | 1.16M |
Balance Sheet | |||||
| Total Assets | 172.68M | 171.42M | 119.18M | 123.51M | 177.31M |
| Cash, Cash Equivalents and Short-Term Investments | 6.34M | 8.87M | 7.02M | 11.73M | 8.49M |
| Total Debt | 31.55M | 38.82M | 29.44M | 16.03M | 14.02M |
| Total Liabilities | 74.11M | 98.37M | 66.05M | 64.09M | 67.64M |
| Stockholders Equity | 98.57M | 73.05M | 53.13M | 59.42M | 109.68M |
Cash Flow | |||||
| Free Cash Flow | -2.54M | -4.39M | -4.43M | -767.00K | -18.00K |
| Operating Cash Flow | -2.19M | -4.13M | -3.73M | 3.61M | 5.04M |
| Investing Cash Flow | -17.42M | -16.14M | -11.03M | -1.36M | -52.90M |
| Financing Cash Flow | 17.08M | 22.11M | 10.05M | 993.00K | 49.95M |
Spirit Technology Solutions Ltd. Technical Analysis
0.55
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ITS, the sentiment is undefined. The current price of 0.55 is equal to the 20-day moving average (MA) of ―, equal to the 50-day MA of ―, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of ― indicates undefined momentum. The RSI at ― is undefined, neither overbought nor oversold. The STOCH value of ― is undefined, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a undefined sentiment for AU:ITS.
Spirit Technology Solutions Ltd. Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
* Communication Services Sector Average
Performance Comparison
Spirit Technology Solutions Ltd. Corporate Events
Infotrust Performance Rights Lapse Trims Potential Share Dilution
Jun 2, 2026
Infotrust Ltd has notified the market of changes to its issued capital following the lapse of a tranche of performance rights. A total of 741,500 performance rights, trading under the ASX security code ITSAB, have ceased after the specified condit...
Infotrust director Kanji lifts indirect stake via on-market share purchase
Jun 2, 2026
Infotrust Ltd has disclosed a change in the relevant interests of director Shan Shamsher Kanji, who holds his stake indirectly through 263 Finance Pty Limited, a company ultimately connected to a trust in which he is a potential beneficiary. The n...
Infotrust Director Lifts Indirect Stake with Series of On-Market Share Buys
May 22, 2026
Infotrust Ltd has disclosed a change in the relevant interests of director Shan Shamsher Kanji, whose indirect holding in the company increased through on-market share purchases executed over three consecutive days in May 2026. Via 263 Finance Pty...
Infotrust appoints new director with no declared security interests
May 22, 2026
Infotrust Ltd has appointed Paul Timmins as a director effective 18 May 2026, according to an initial director’s interest notice lodged with the ASX. The filing confirms that Timmins holds no relevant interests in Infotrust securities, eithe...
Infotrust Discloses Equity Holdings as Director Julian Challingsworth Steps Down
May 22, 2026
Infotrust Ltd has announced that Julian Challingsworth has ceased to be a director of the company as of 18 May 2026, with the disclosure lodged under ASX listing rule 3.19A.3. The notice details that Challingsworth retains 2,557,590 fully paid ord...
Infotrust Performance Rights Lapse After Vesting Conditions Not Met
May 22, 2026
Infotrust Ltd has notified the market that 1,816,038 performance rights, designated under the ASX security code ITSAB, have lapsed after the conditions attached to these rights were not met or became incapable of being satisfied as of 18 May 2026....
Infotrust Issues New Shares for Catalyst Cyber Deal and Staff Incentives
Apr 17, 2026
Infotrust Ltd has issued 3,255,856 new fully paid ordinary shares, including 1,871,156 shares as part of the consideration for its acquisition of Catalyst Cyber Pty Ltd and 1,384,700 shares following the vesting and exercise of performance rights ...
Infotrust seals Catalyst Cyber deal to deepen federal cyber footprint
Apr 17, 2026
Infotrust has completed the acquisition of Canberra‑based cyber security consultancy Catalyst Cyber, which specialises in serving Federal Government clients with security‑cleared staff and high‑assurance cyber services. The deal ...
Infotrust Seeks ASX Quotation for 1.87 Million New Shares
Apr 17, 2026
Infotrust Ltd has applied for quotation of 1,871,156 new ordinary fully paid shares on the Australian Securities Exchange, with an issue date of April 17, 2026. The securities form part of a previously flagged transaction, modestly expanding the c...
Infotrust seeks ASX quotation for 1.38m new ordinary shares
Apr 17, 2026
Infotrust Ltd has applied for quotation on the ASX of 1,384,700 ordinary fully paid shares, to be issued on 17 April 2026 under its existing ticker ITS. The new share quotation follows the exercise of options or conversion of other securities and ...
Infotrust plans placement of up to 5 million new shares
Apr 14, 2026
Infotrust Ltd has notified the ASX of its intention to issue up to 5,000,000 new ordinary fully paid shares, with the proposed issue to occur on 17 April 2026 via a placement or similar structure. The move signals a fresh capital raising that may ...
Infotrust Director Increases Indirect Shareholding via On-Market Purchase
Apr 14, 2026
Infotrust Ltd has disclosed a minor change in director Shan Shamsher Kanji’s indirect shareholding, lodged in accordance with ASX listing rules. Kanji’s interest is held through 263 Finance Pty Ltd, whose parent is owned by the trustee...
Infotrust Director Modestly Increases Indirect Shareholding via On‑Market Trades
Apr 10, 2026
Infotrust Ltd has disclosed a change in director Shan Shamsher Kanji’s relevant interest in the company’s fully paid ordinary shares, following a series of small on‑market purchases executed between 1 and 9 April 2026. Through 26...
Infotrust Director Modestly Increases Indirect Shareholding
Mar 31, 2026
Infotrust Ltd has disclosed a small increase in the indirect shareholding of director Shan Shamsher Kanji, following a series of on-market purchases executed through 263 Finance Pty. Limited in late March 2026. The transactions lifted Kanji’...
Infotrust Completes $50m Divestment to Sharpen Cyber Security Focus
Mar 31, 2026
Infotrust Ltd has completed the divestment of its Cloud Communications segment, including 100% of Nexgen Investment Group, to Aussie Broadband for total consideration of up to $50 million. The deal delivers $44.1 million in upfront cash and up to...
Infotrust Grants 74,468 Unquoted Performance Rights Under Employee Scheme
Mar 27, 2026
Infotrust Ltd has issued 74,468 unquoted performance rights under its employee incentive scheme, as notified to the Australian Securities Exchange on March 27, 2026. The new rights, which are not intended to be quoted on the ASX, underscore the co...
Infotrust Director Increases Indirect Shareholding via On-Market Purchases
Mar 23, 2026
Infotrust Ltd has disclosed a change in the indirect shareholding of director Shan Shamsher Kanji, lodged with the ASX under listing rule obligations. The interests are held through 263 Finance Pty Ltd, whose parent is owned by a trustee of a trus...
Infotrust Buys Catalyst Cyber to Deepen Foothold in Federal Cyber Security
Mar 18, 2026
Infotrust has agreed to acquire Canberra-based consultancy Catalyst Cyber, accelerating its push into Federal Government and defence-aligned cyber security markets and bolstering its presence in regulated, high-assurance environments. Catalyst Cyb...
Infotrust Director Increases Indirect Shareholding via On-Market Purchases
Mar 10, 2026
Infotrust Ltd has disclosed a change in the indirect shareholding of director Shan Shamsher Kanji, lodged under ASX listing rule 3.19A.2. Kanji’s interest is held via 263 Finance Pty Ltd, whose parent is owned by the trustee of a trust in wh...
Spirit Technology Grants Performance Rights to Director Simon McKay
Mar 4, 2026
Spirit Technology Solutions has disclosed a change in director Simon McKay’s interests following the grant of 138,888 performance rights as part of the company’s long‑term incentive program. The new rights, which carry no upfront...
Spirit Technology Adjusts Director Julian Challingsworth’s Performance Rights
Mar 4, 2026
Spirit Technology Solutions has disclosed a change in the relevant interests of director Julian Challingsworth, detailing an adjustment to his holdings of performance rights in the company. The notice, lodged with the ASX, reflects internal equity...
Infotrust issues 1.33m unquoted performance rights under staff incentive plan
Mar 4, 2026
Infotrust Ltd has notified the market of the issue of 1,328,957 unquoted performance rights under its employee incentive scheme. The securities, designated as ITSAB performance rights and issued on 26 February 2026, are not intended to be quoted o...
Infotrust Issues 722,221 Unquoted Performance Rights Under Staff Incentive Plan
Mar 4, 2026
Infotrust Ltd has notified the market of the issue of 722,221 unquoted performance rights under its employee incentive scheme. The new securities, which are not intended to be quoted on the ASX, were issued on 26 February 2026 and reinforce the co...
Infotrust performance rights lapse trims potential equity dilution
Mar 4, 2026
Infotrust Ltd has disclosed that 1,638,200 performance rights, classified as ITSAB securities, have lapsed after the conditions attached to those rights were not met or became incapable of being satisfied as of 26 February 2026. The cessation of t...
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.