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$0.44
▼(-19.27% Downside)
Action:ReiteratedDate: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
Improving profitability and margins
EBIT and EBITDA moving into positive territory alongside gross margin expansion to ~15.5% reflects structural operating improvements and better cost mix. Sustained margins increase the firm’s ability to generate recurring operating earnings over the medium term, improving resilience as revenue variability is addressed.
Negative Factors
Weak and worsening cash generation
Persistent negative operating and free cash flow despite accounting improvements means internal cash conversion remains weak. This forces reliance on asset sales, external funding, or equity issuance to support operations and M&A, raising execution risk and potentially increasing financing costs or dilution over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profitability and margins
EBIT and EBITDA moving into positive territory alongside gross margin expansion to ~15.5% reflects structural operating improvements and better cost mix. Sustained margins increase the firm’s ability to generate recurring operating earnings over the medium term, improving resilience as revenue variability is addressed.
Read all positive factors
Spirit Technology Solutions Ltd. (ITS) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$85.58M
Dividend YieldN/A
Average Volume (3M)27.33K
Price to Earnings (P/E)―
Beta (1Y)-0.05
Revenue Growth-18.64%
EPS Growth92.67%
CountryAU
Employees36
SectorCommunication Services
Sector Strength97
IndustryInformation Technology Services
Share Statistics
EPS (TTM)-0.02
Shares Outstanding190,176,330
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$0.62Price Target Upside12.73% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)<0.01
Revenue Forecast (FY)AU$74.13M
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 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...
Spirit Sells Nexgen to Aussie Broadband to Fund Cyber-Focused Expansion
Feb 26, 2026
Spirit Technology Solutions has completed the restructure of its Infotrust division with the sale of its Nexgen cloud and communications segment to Aussie Broadband for up to $50 million, equivalent to seven times FY25 EBITDA. The deal delivers $4...
Infotrust forecasts H2 FY26 EBITDA to exceed $3 million
Feb 26, 2026
Infotrust Ltd, a sovereign Australian cyber security and managed technology provider, supports organisations with integrated, resilient technology services designed to keep their operations secure and compliant. Its focus on security and connectiv...
Infotrust Swings to $16.5m Half-Year Loss on Nexgen Impairment and Divestment
Feb 26, 2026
Infotrust reported a 9% rise in revenue from ordinary activities to $31.1 million for the half-year to 31 December 2025, but underlying EBITDA from continuing operations slumped 38% to $0.4 million as profitability came under pressure. The group&#...
Aussie Broadband buys Nexgen to boost SME communications push
Feb 22, 2026
Aussie Broadband has agreed to acquire 100% of Nexgen Investment Group for an upfront cash consideration of $44.1 million, plus an earn-out of up to $5.9 million tied to future EBITDA targets. Nexgen will continue to operate as a standalone entity...
Infotrust Sells Nexgen Unit to Aussie Broadband to Complete Cyber Security Pivot
Feb 22, 2026
Infotrust Ltd has agreed to sell its Cloud Communications segment, Nexgen Investment Group, to Aussie Broadband for up to $50 million in cash and contingent consideration, in a move that completes its strategic pivot to a focused cyber security a...
Infotrust Sets Date for H1 FY26 Results and Investor Briefing
Feb 19, 2026
Infotrust Ltd has scheduled the release of its audited financial results for the first half of FY26 after market close on Thursday, 26 February 2026, signalling an upcoming update on the company’s financial and operational performance. The a...
Infotrust Strengthens Governance With Appointment of Co-Company Secretary
Jan 28, 2026
Infotrust Ltd has appointed Nina Mlinarevic as Co-Company Secretary, effective 28 January 2026, while existing Company Secretary Nick Hornstein will remain in his role and continue as a key liaison with the ASX. The move formalises Mlinarevic as a...
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.