Nanollose Ltd. (NC6) AI Stock Analysis

• Market Cap: AU$23.18M
• Dividend Yield: N/A
• Average Volume (3M): 138.71K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.45
• Revenue Growth: -100.00%
• EPS Growth: 2.86%
• Country: AU
• Employees: N/A
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Biotechnology
• EPS (TTM): >-0.01
• Shares Outstanding: 326,474,820
• 10 Day Avg. Volume: 179,263
• 30 Day Avg. Volume: 138,709
• PEG Ratio: 2.33
• Price to Book (P/B): 34.86
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -12.58
• 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: 48 Neutral
• Price Target: AU$0.07 ▲(40.00% Upside)

The score is held down primarily by weak financial performance (persistent losses, zero revenue in FY2025, and ongoing cash burn). Technical indicators provide some support due to a positive trend versus key moving averages and moderately strong momentum. Valuation is also a drag given the negative P/E and lack of dividend yield.

Positive Factors

Sustainable, differentiated product

Nanollose's core technology — fermentative microbial cellulose (Nullarbor fibre) — targets structural demand for sustainable textile inputs. That product-led differentiation creates a durable addressable market with rising brand and regulatory focus on sustainable materials, supporting long-term commercial opportunity if scaled.

Low financial leverage

A low-debt balance sheet reduces near-term insolvency risk and gives management flexibility to pursue R&D, partnerships, or staged scale-up without immediate heavy interest burdens. This structural conservatism preserves optionality while the business seeks commercial traction.

Reduced cash burn trend

An improving free cash flow trend, even from deeply negative levels, indicates operational progress toward cost control or efficiency gains. If sustained, this gradual reduction in cash burn improves runway dynamics and lessens reliance on frequent external funding over the medium term.

Negative Factors

Zero revenue in FY2025

A collapse to zero reported revenue signals a severe loss of commercial traction or transitional business model risk. Without demonstrable, consistent revenue generation, long-term viability depends on successful product commercialization or new partnerships, making scalability and cash sustainability uncertain.

Persistent negative cash generation

Consistent negative operating and free cash flow indicates the business cannot self-fund its operations or growth. Over months this necessitates external financing, which can dilute equity, constrain strategic choices, and create dependency risk if capital markets tighten or investor appetite wanes.

Equity instability and negative returns

A prior negative shareholders' equity and persistent negative ROE reflect accumulated losses and thin capacity to compound shareholder value. This structural weakness raises concerns about future dilution, constrained ability to absorb shocks, and the need to restore profitable returns before long-term value creation.

Nanollose Ltd. Business Overview & Revenue Model

Company Description

Nanollose Limited, a biomaterials company, engages in the research and development, and promotion of the microbial nanocellulose technology in Australia. The company offers Nullarbor Fibre, a tree-free Nullarbor lyocell fibre; and Jelli Grow, an alternative seed germination and plant growing material. Its products are used in textiles, nonwoven fabric, and other industries. The company was incorporated in 2014 and is based in Nedlands, Australia.

How the Company Makes Money

Nanollose Ltd. generates revenue primarily through the development and commercialization of sustainable fibers made from microbial cellulose. The company partners with textile manufacturers and fashion brands to produce and supply its eco-friendly materials. Key revenue streams include licensing its technology, selling its fibers directly to manufacturers, and potentially earning royalties from partners using its proprietary production methods. Strategic collaborations and partnerships with industry players are significant factors contributing to its earnings, as they help in scaling production and expanding market reach.

Nanollose Ltd. Financial Statement Overview

Summary

Overall financials are weak: the company is persistently loss-making with deteriorating margins and revenue collapsing to zero in FY2025. Cash flow remains consistently negative (ongoing cash burn), implying reliance on external funding. The main offset is relatively low leverage, but equity instability (negative in FY2024 before recovering) and negative returns keep the financial risk elevated.

Income Statement

The company remains firmly loss-making with negative profitability in every year provided, and margins deteriorated meaningfully in the most recent period. Revenue has been highly volatile and collapsed to zero in FY2025 (following modest revenue in FY2024 and higher levels in FY2023), which is a major red flag for operating traction. While FY2023 showed better gross profit versus prior years, the business has not translated this into improved operating results, with sizeable negative EBIT/EBITDA and net losses continuing.

Balance Sheet

Leverage appears low with total debt staying small relative to assets and (in most years) equity, which reduces near-term balance-sheet risk. However, equity quality/stability is mixed: stockholders’ equity turned negative in FY2024 before recovering to positive in FY2025, signaling prior dilution/accumulated losses or balance-sheet pressure. Returns on equity are generally negative (reflecting ongoing losses), limiting the balance sheet’s ability to compound value without improved profitability.

Cash Flow

Cash generation is weak, with operating cash flow and free cash flow consistently negative across all periods, indicating the business is consuming cash to fund operations. FY2025 free cash flow improved versus FY2024 (less cash burn), but it remains meaningfully negative, and the company’s cash outflows continue to track closely with net losses rather than demonstrating self-funding progress. Overall, cash-flow sustainability likely depends on external financing unless profitability materially improves.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.01K	0.00	12.50K	412.16K	224.61K	322.86K
Gross Profit	-143.09K	-35.83K	-779.20K	58.29K	-223.55K	-70.57K
EBITDA	-1.59M	-1.59M	-1.10M	-1.16M	-1.51M	-873.73K
Net Income	-1.43M	-1.43M	-1.16M	-1.35M	-1.57M	-931.04K
Balance Sheet
Total Assets	747.79K	747.79K	241.95K	633.24K	1.91M	3.38M
Cash, Cash Equivalents and Short-Term Investments	617.32K	617.32K	138.75K	548.25K	1.59M	3.01M
Total Debt	13.09K	13.09K	42.53K	11.52K	38.09K	37.88K
Total Liabilities	351.38K	351.38K	465.64K	181.61K	181.51K	507.83K
Stockholders Equity	396.41K	396.41K	-223.69K	451.63K	1.73M	2.87M
Cash Flow
Free Cash Flow	-1.10M	-1.10M	-900.95K	-1.01M	-1.39M	-1.01M
Operating Cash Flow	-1.10M	-1.10M	-900.95K	-1.01M	-1.38M	-935.19K
Investing Cash Flow	0.00	0.00	15.97K	0.00	-5.35K	-272.15K
Financing Cash Flow	1.58M	1.58M	475.49K	-26.57K	-32.69K	3.37M

Nanollose Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.05
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NC6, the sentiment is Positive. The current price of 0.05 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.05, and below the 200-day MA of 0.06, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 74.70 is Negative, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:NC6.

Nanollose Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
PTX	50 Neutral	AU$77.81M	-8.13	-49.72%	―	―	10.78%
ALA	50 Neutral	AU$114.11M	-13.97	-47.98%	―	700.00%	26.88%
NC6	48 Neutral	AU$23.18M	-10.44	-1651.76%	―	-100.00%	2.86%
CMB	48 Neutral	AU$13.78M	-2.33	-166.70%	―	―	―
ADO	40 Underperform	AU$40.14M	-5.20	-159.86%	―	110.44%	35.90%
1AD	37 Underperform	AU$11.47M	-1.61	-628.72%	―	―	31.87%

Nanollose Ltd. Corporate Events

Nanollose Advances Largest Nullarbor™ Pilot Spin and Bolsters IP as It Shifts Focus to Scale and Cost

Nanollose reported that the December 2025 quarter marked a transition from validating small pilot batches to focusing on scalability and cost reduction for its Nullarbor™ forest-friendly lyocell fibre. The company advanced preparations for a fourth pilot production spin in partnership with Hainan Guangyu Biotechnology and Birla Cellulose, using an upgraded 200kg microbial cellulose feedstock to produce an expected 500kg of Nullarbor-30™ fibre—its largest batch to date—with a newly optimised washing and treatment process that allows microbial cellulose to be fed directly into existing lyocell lines, materially improving scalability and commercial appeal. Nanollose also strengthened its intellectual property position through national phase filings for its Biollose™ dewatering technology and new patent grants across key jurisdictions in its lyocell, viscose and horticultural media portfolios, bringing its IP estate to 14 granted patents and 8 trademarks, while modest funding from option exercises bolstered working capital to support ongoing production, partner engagement and scale-up plans that will be guided by forthcoming results from the fourth pilot spin and a broader strategic review of product pathways.

The most recent analyst rating on (AU:NC6) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Nanollose Ltd. stock, see the AU:NC6 Stock Forecast page.

Nanollose Seeks ASX Quotation for Additional Ordinary Shares

Nanollose Limited has applied to the ASX for quotation of 15,067 new fully paid ordinary shares under its existing ticker, NC6. The additional shares, issued on 23 January 2026 following the exercise or conversion of existing securities, will modestly expand the company’s quoted capital base and may slightly increase liquidity for shareholders without materially altering its overall market structure.

The most recent analyst rating on (AU:NC6) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Nanollose Ltd. stock, see the AU:NC6 Stock Forecast page.

Nanollose Expands Global Patent Footprint to Bolster Fashion and Vertical Farming Push

Nanollose has strengthened its intellectual property portfolio with new patent grants in Japan, Canada and South Korea covering its Nullarbor™ lyocell fibre process, viscose fibre production from microbial cellulose, and its original JelliGrow wet‑gel seed‑raising formulation. The company has also advanced its Biollose™ ‘Method for Dewatering Microbial Cellulose’ patent into the National Phase in 12 strategically chosen jurisdictions aligned with large or fast‑growing vertical farming markets and demonstrated customer interest, a move that is expected to lower logistics costs for its soilless growing media and reinforce its competitive position as it scales commercial operations in fashion and agriculture.

The most recent analyst rating on (AU:NC6) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Nanollose Ltd. stock, see the AU:NC6 Stock Forecast page.

Nanollose Options Lapse, Simplifying Capital Structure

Nanollose Ltd., listed on the ASX under code NC6, has reported the expiry of 500,000 listed options (NC6AS) exercisable at $0.10 that lapsed unexercised on 20 January 2026, leading to a minor change in the composition of its issued capital. The cessation of these options, which expired without conversion into shares, marginally simplifies the company’s capital structure but does not directly alter its existing share count, and may signal limited investor appetite at the specified exercise price at this point in time.

The most recent analyst rating on (AU:NC6) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Nanollose Ltd. stock, see the AU:NC6 Stock Forecast page.

Nanollose Ships Upgraded Microbial Cellulose for Largest Nullarbor Pilot Spin with Birla Cellulose

Nanollose has delivered a 200kg upgraded batch of microbial cellulose feedstock to co-development partner Birla Cellulose’s pilot facility in India for a fourth pilot production spin of its proprietary Nullarbor fibre. Produced by China-based partner Hainan Guangyu Biotechnology using an optimised washing and treatment process, the material can now be fed directly into the lyocell process without further pre-processing, underscoring improvements in Nanollose’s international supply chain and manufacturing IP. The upcoming pilot run, expected to begin in early February and yield about 500kg of Nullarbor‑30 fibre comprising 30% microbial cellulose and 70% FSC-certified wood pulp, will be the company’s largest to date and a key technical milestone in validating Nullarbor’s compatibility with existing lyocell infrastructure. Management says the results, due in February 2026, will shape Nanollose’s 2026 development and scale-up strategy, potentially strengthening its position with commercial partners seeking sustainable fibre solutions and advancing its path toward larger-scale commercialisation.

The most recent analyst rating on (AU:NC6) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Nanollose Ltd. stock, see the AU:NC6 Stock Forecast page.

Nanollose Seeks ASX Quotation for 10 Million New Shares

Nanollose Limited has applied to the ASX for quotation of 10 million new ordinary fully paid shares under its issuer code NC6, with an issue date of 22 December 2025. The additional securities will increase the company’s quoted share capital, potentially affecting existing shareholders through dilution while providing Nanollose with greater flexibility to support future corporate or funding activities.

Nanollose Director Acquires Significant Options Post-AGM Approval

Nanollose Limited announced a change in the director’s interest, with Ms. Heidi Beatty acquiring 1,000,000 unlisted options following shareholder approval at the recent AGM. This acquisition reflects the company’s strategic moves to align its leadership’s interests with its growth objectives, potentially enhancing its market position and stakeholder confidence.

Nanollose Ltd. Issues 1 Million Unquoted Equity Securities

Nanollose Ltd. announced the issuance of 1,000,000 unquoted equity securities, specifically options expiring on December 3, 2028, with an exercise price of $0.066. This move is part of the company’s strategic financial activities, potentially impacting its capital structure and providing opportunities for future growth and investment in sustainable textile innovations.

Nanollose Advances Sustainable Biomaterials at 2025 AGM

Nanollose Limited held its 2025 Annual General Meeting, where all resolutions were determined by a poll. The company continues to advance its partnership with Birla Cellulose, having completed three successful pilot production runs of its Tree-Free Nullarbor lyocell fibre in India. These fibres have been distributed to collaborators for further testing and evaluation, indicating potential market uptake. This progress underscores Nanollose’s commitment to sustainable innovation and its strategic positioning in the biomaterials industry.

Nanollose Announces Director’s Shareholding Changes

Nanollose Ltd. announced a change in the director’s interest, with Mr. Winton Willesee transferring 600,000 shares through off-market transfers and 11,900,000 shares between director-related entities. This change reflects internal adjustments in shareholding, potentially impacting the company’s governance and signaling strategic shifts in stakeholder alignment.