Micro-X Ltd. (AU:MX1)
ASX:MX1
Want to see AU:MX1 full AI Analyst Report?
Top Page
Micro-X Ltd.
(Sydney:MX1)
Select Model
Select Model
Rating:42Neutral
Price Target:
AU$0.04
▼(-64.00% Downside)
Action:Reiterated
Date:06/04/26
The score is held down mainly by weak financial performance (declining revenue, ongoing losses, and negative cash flows) and a clearly bearish technical setup (below key moving averages with negative MACD). Valuation offers limited offset because the company is loss-making (negative P/E) and no dividend yield is provided.
Positive Factors
Proprietary carbon-nanotube X-ray tech
Proprietary cold-cathode CNT X‑ray tubes are a structural competitive advantage: they enable smaller, lighter, field-deployable systems that incumbents find hard to replicate. That IP supports product differentiation, higher specification wins, and long-term entry barriers across medical and security markets.
Negative Factors
Declining revenue trend
A near‑term revenue decline of ~9.5% signals difficulty scaling commercial adoption. Persistent top‑line contraction undermines operating leverage, limits ability to absorb fixed R&D and SG&A, and slows progress toward breakeven even with strong gross margins unless sales regain traction.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary carbon-nanotube X-ray tech
Proprietary cold-cathode CNT X‑ray tubes are a structural competitive advantage: they enable smaller, lighter, field-deployable systems that incumbents find hard to replicate. That IP supports product differentiation, higher specification wins, and long-term entry barriers across medical and security markets.
Read all positive factors
Micro-X Ltd. (MX1) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$27.71M
Dividend YieldN/A
Average Volume (3M)189.28K
Price to Earnings (P/E)―
Beta (1Y)0.60
Revenue Growth74.74%
EPS Growth4.32%
CountryAU
EmployeesN/A
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.02
Shares Outstanding729,233,000
10 Day Avg. Volume131,613
30 Day Avg. Volume189,275
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)3.96
Price to Sales (P/S)2.29
P/FCF Ratio-3.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.15Price Target Upside50.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)AU$26.90M
Micro-X Ltd. Business Overview & Revenue Model
Company Description
Micro-X Limited designs, develops, and manufactures lightweight carbon nano tube-based X-ray products for the healthcare and security imaging markets in Australia. The company offers rover veterinary, a mobile X-ray machine to diagnose and treat a...
How the Company Makes Money
Micro-X makes money primarily by selling X-ray imaging products and related solutions that incorporate its proprietary cold cathode X-ray tube technology. Key revenue streams include: (1) Product and system sales: revenue from supplying complete p...
Micro-X Ltd. Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
40
Negative
Cash Flow
30
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.76M | 13.05M | 15.22M | 15.01M | 8.97M | 3.77M |
| Gross Profit | 402.00K | 10.32M | 5.74M | -7.11M | -12.33M | -12.96M |
| EBITDA | -13.47M | -11.76M | -14.35M | -15.54M | -19.02M | -13.61M |
| Net Income | -11.83M | -13.89M | -9.77M | -10.75M | -17.09M | -14.73M |
Balance Sheet | ||||||
| Total Assets | 17.41M | 22.11M | 26.89M | 30.30M | 31.28M | 44.68M |
| Cash, Cash Equivalents and Short-Term Investments | 4.90M | 3.24M | 3.23M | 5.22M | 10.30M | 30.14M |
| Total Debt | 5.13M | 6.53M | 3.99M | 4.70M | 5.31M | 5.84M |
| Total Liabilities | 11.82M | 14.56M | 12.63M | 13.17M | 12.05M | 10.53M |
| Stockholders Equity | 5.59M | 7.55M | 14.26M | 17.13M | 19.22M | 34.15M |
Cash Flow | ||||||
| Free Cash Flow | -9.77M | -8.69M | -6.80M | -11.77M | -19.22M | -10.76M |
| Operating Cash Flow | -9.72M | -8.59M | -6.43M | -10.99M | -18.11M | -9.86M |
| Investing Cash Flow | -42.00K | -100.00K | -369.00K | -779.00K | -1.11M | -901.00K |
| Financing Cash Flow | 12.27M | 8.71M | 4.81M | 6.69M | -612.00K | 22.57M |
Micro-X Ltd. Technical Analysis
Negative
0.10
Price Trends
0.05
Negative
0.06
Negative
0.08
Negative
Market Momentum
>-0.01
Negative
39.64
Neutral
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MX1, the sentiment is Negative. The current price of 0.1 is above the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.05, and above the 200-day MA of 0.08, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 39.64 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:MX1.
Micro-X Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | AU$24.31M | -3.72 | -98.14% | ― | 14.88% | 35.94% | |
46 Neutral | AU$28.42M | 15.53 | 8.71% | ― | 17.32% | ― | |
44 Neutral | AU$83.20M | -4.02 | -54.48% | ― | 17.24% | -20.00% | |
44 Neutral | AU$158.95M | -14.77 | -70.29% | ― | ― | -62.15% | |
42 Neutral | AU$27.71M | -2.15 | -180.06% | ― | 74.74% | 4.32% | |
41 Neutral | AU$2.26B | -12.24 | -890.76% | ― | -0.80% | -249.48% |
* Healthcare Sector Average
AU:MX1
Micro-X Ltd.
0.04
-0.01
-22.00%
AU:CYC
Cyclopharm Limited
0.63
-0.45
-41.67%
AU:CSX
CleanSpace Holdings Ltd.
0.35
-0.05
-12.50%
AU:EMV
EMvision Medical Devices Ltd.
1.69
-0.02
-1.17%
AU:CBL
Control Bionics Ltd.
0.07
0.04
159.26%
AU:4DX
4DMedical Ltd
3.92
3.60
1125.00%
Micro-X Ltd. Corporate Events
Micro-X outlines portable CT vision and compliance limits at HealthInvest
Jun 3, 2026
Micro-X presented an investor-focused update at the HealthInvest event in Sydney on 3 June 2026, outlining its vision for transforming medical imaging via portable CT systems. The company emphasised that the materials were informational only, high...
Micro-X begins human imaging trial of miniature Head CT scanner
Jun 3, 2026
Micro-X has commenced a multi-centre pilot study of its miniature Head CT scanner, achieving what it describes as the world’s first carbon nanotube cone beam CT human imaging using its curved array system at the Royal Melbourne Hospital. The...
Micro-X Options Expire, Simplifying Capital Structure
Jun 1, 2026
Micro-X Ltd. has notified the market of the cessation of 31,118,256 listed options with an exercise price of $0.135, which expired on May 30, 2026. The expiry of these options simplifies the company’s capital structure and removes a potentia...
Micro-X Advances Head CT Trials and Rover X-Ray Sales as Cash Position Strengthens
Apr 30, 2026
Micro-X reported steady operational and commercial progress for the March 2026 quarter, highlighting growing market interest in its upgraded Rover 2026 mobile X-ray model, particularly following its debut at a major radiology conference. The new R...
Micro-X Director Patrick O’Brien Lifts Indirect Stake via Share Placement
Apr 27, 2026
Micro-X director Patrick O’Brien has increased his indirect shareholding in the company through participation in a shareholder-approved placement. The transaction saw associated entities TLFTC Pty Ltd and Dickens Pty Ltd acquire 2.5 million ...
Micro-X Issues 2.5 Million New Shares to Approved Investor
Apr 27, 2026
Micro-X Ltd has issued 2,500,000 fully paid ordinary shares to Patrick O’Brien, a move that was previously approved by shareholders and increases the company’s capital base. The issuance was conducted without a disclosure document unde...
Micro-X Seeks ASX Quotation for 2.5 Million New Shares
Apr 27, 2026
Micro-X Limited has applied for the quotation of 2,500,000 new ordinary fully paid shares on the Australian Securities Exchange, expanding its listed security base under the ticker MX1. The shares, issued on 24 April 2026 as part of previously ann...
Micro-X Issues Incentive Plan Shares and Confirms Regulatory Compliance
Apr 20, 2026
Micro-X Ltd has issued 612,545 fully paid ordinary shares under its incentive plan, expanding its share capital as part of its employee or management remuneration structure. The company has confirmed that the issuance was conducted without a prosp...
Micro-X Seeks ASX Quotation for Additional Ordinary Shares
Apr 20, 2026
Micro-X Limited has applied for quotation on the ASX of 612,545 new ordinary fully paid shares under code MX1, with an issue date of April 20, 2026. The additional securities, arising from exercised options or converted instruments, marginally exp...
Micro-X trims potential dilution as 1.6 million performance rights lapse
Apr 20, 2026
Micro-X Ltd. has notified the market that 1,605,067 MX1AG performance rights have lapsed following the expiry of these securities without being exercised or converted. The cessation of these rights marginally reduces the company’s potential ...
Micro-X Issues 400,000 Unquoted Performance Rights Under Employee Incentive Plan
Apr 20, 2026
Micro-X Limited has notified the market of the issue of 400,000 unquoted performance rights under its employee incentive scheme. The securities, designated as MX1AG performance rights, were issued on April 20, 2026, and are not intended to be quot...
Micro-X taps seasoned finance executive as new CFO to support global growth
Mar 26, 2026
Micro-X has appointed experienced finance executive Peter Dickman as Chief Financial Officer, effective 30 March 2026, bolstering its senior leadership as it scales its health and security technology businesses. Dickman, formerly Group Chief Perfo...
Micro-X shareholders back multi-tranche placement at extraordinary meeting
Mar 24, 2026
Micro-X Limited secured strong shareholder backing at its extraordinary general meeting for three capital-raising resolutions tied to a multi-tranche share placement. Investors approved the ratification of Tranche 1 placement shares and the issuan...
Micro-X Secures $1.6m ARPA-H Milestone with Full Body CT Test Bench
Mar 9, 2026
Micro-X has completed the first full body CT laboratory test bench under its development agreement with U.S. government agency ARPA-H, triggering a A$1.6 million milestone payment. The engineering achievement follows a successful preliminary desig...
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.