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): -0.08
• 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: 326,484,340
• 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 ▲(44.00% Upside)
• Action: Reiterated Date: 02/26/26
• Date: Action: Reiterated 02/26/26

The score is held down primarily by weak financial performance (persistent losses, zero revenue in FY2025, and ongoing negative free cash flow) and limited valuation support (negative P/E, no dividend). These risks are partially offset by moderately positive technical momentum with the price above key moving averages and a positive MACD.

Positive Factors

Low financial leverage

Low debt relative to assets reduces near-term solvency risk and preserves financial flexibility. For a cash-burning biotech, low leverage means management can prioritize R&D and commercialization choices without immediate debt-servicing pressure, improving strategic optionality over coming months.

Sustainable, differentiated product platform

A fermentation-based microbial cellulose offers durable strategic advantages in sustainability-driven textiles. The technology targets structural industry demand for eco-friendly materials and can enable partnerships with brands seeking lower-impact inputs, supporting long-term addressable market expansion.

Improving free cash flow trend

An improvement in free cash flow versus the prior year signals progress in cost control or operational efficiency. While still negative, a trending reduction of cash burn is a durable positive if sustained, as it lengthens runway and lowers frequency/size of future external funding needs.

Negative Factors

Persistent unprofitability

Consistent multi-year losses indicate the business has not reached profitable unit economics. Persistent negative margins limit the firm's ability to self-fund growth, compress returns on equity over time, and require ongoing capital infusions unless commercial performance and margins materially improve.

Revenue collapsed to zero in FY2025

A drop to zero reported revenue in the most recent fiscal year is a major sign of weak commercial traction or disrupted sales channels. Absent recurring revenue, it becomes difficult to validate the product-market fit or scale manufacturing and partnerships needed for durable, predictable cash generation.

Weak cash generation; reliant on external funding

Chronic negative operating and free cash flows create structural reliance on equity or debt raises. Repeated financing can dilute shareholders, constrain strategic choices, and risk funding gaps that disrupt R&D or commercialization timelines, a lasting constraint until sustainable cash generation emerges.

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

Financials are weak: the company is consistently loss-making with deteriorating margins, revenue is highly volatile and fell to zero in FY2025, and operating/free cash flow remain meaningfully negative. Low debt reduces immediate leverage risk, but ongoing cash burn implies continued reliance on external funding.

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	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	0.00	12.50K	412.16K	224.61K	322.86K
Gross Profit	-35.83K	-779.20K	58.29K	-223.55K	-70.57K
EBITDA	-1.59M	-1.10M	-1.16M	-1.51M	-873.73K
Net Income	-1.43M	-1.16M	-1.35M	-1.57M	-931.04K
Balance Sheet
Total Assets	747.79K	241.95K	633.24K	1.91M	3.38M
Cash, Cash Equivalents and Short-Term Investments	617.32K	138.75K	548.25K	1.59M	3.01M
Total Debt	13.09K	42.53K	11.52K	38.09K	37.88K
Total Liabilities	351.38K	465.64K	181.61K	181.51K	507.83K
Stockholders Equity	396.41K	-223.69K	451.63K	1.73M	2.87M
Cash Flow
Free Cash Flow	-1.10M	-900.95K	-1.01M	-1.39M	-1.01M
Operating Cash Flow	-1.10M	-900.95K	-1.01M	-1.38M	-935.19K
Investing Cash Flow	0.00	15.97K	0.00	-5.35K	-272.15K
Financing Cash Flow	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: Neutral
• 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 0.06, and below the 200-day MA of 0.06, indicating a bullish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 57.21 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 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%
ALA	52 Neutral	AU$98.99M	-11.71	-47.98%	―	700.00%	26.88%
PTX	50 Neutral	AU$71.50M	-6.80	-49.72%	―	―	10.78%
NC6	48 Neutral	AU$23.18M	-9.22	-1651.76%	―	-100.00%	2.86%
CMB	48 Neutral	AU$12.06M	-2.88	-166.70%	―	―	―
ADO	40 Underperform	AU$35.68M	-5.45	-159.86%	―	110.44%	35.90%
1AD	37 Underperform	AU$10.20M	-2.38	-628.72%	―	―	31.87%

Nanollose Ltd. Corporate Events

Nanollose Boosts Cash Reserves With $311,000 R&D Tax Rebate

Nanollose Limited, an ASX-listed biomaterials company, develops sustainable fibres, fabrics and novel materials using tree-free cellulose produced via fermentation of agricultural waste and by-products. Its portfolio includes Nullarbor fibres, MicroGel horticultural medium and emerging leather-like materials that are both animal-free and plastic-free, aimed at reducing reliance on traditional wood-pulp-based cellulose.

The company has received a $311,000 Research and Development Tax Incentive rebate from the Australian government, linked to eligible R&D expenditure. The rebate strengthens Nanollose’s cash position and supports its ongoing research, development and commercialisation efforts, potentially accelerating progress of its sustainable material technologies and reinforcing its position in the biomaterials sector.

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 Ltd. has lodged an application with the ASX for quotation of 1,667 new ordinary fully paid shares under its NC6 ticker. The modest issuance, arising from the exercise or conversion of existing securities, marginally increases the company’s quoted capital base and reflects routine capital management activity rather than a major strategic shift.

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 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.