Orcoda Limited (ODA) AI Stock Analysis

• Market Cap: AU$13.13M
• Dividend Yield: N/A
• Average Volume (3M): 21.64K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.84
• Revenue Growth: -33.93%
• EPS Growth: -366.67%
• Country: AU
• Employees: 10
• Sector: Industrials
• Sector Strength: 72
• Industry: Integrated Freight & Logistics
• EPS (TTM): >-0.01
• Shares Outstanding: 187,514,200
• 10 Day Avg. Volume: 21,146
• 30 Day Avg. Volume: 21,636
• PEG Ratio: 0.01
• Price to Book (P/B): 0.69
• Price to Sales (P/S): 0.67
• P/FCF Ratio: -11.53
• 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: 49 Neutral
• Price Target: AU$0.07 ▲(21.67% Upside)

The score is driven primarily by weak financial performance, with declining revenue and ongoing losses outweighing the benefit of low leverage. Technicals are only mildly constructive in the very near term (neutral RSI but negative MACD and weaker longer-term moving averages). Valuation is penalized by negative earnings (negative P/E) and no dividend support.

Positive Factors

Low leverage

Manageable leverage (debt-to-equity 0.23) provides financial flexibility across business cycles. Lower interest and principal burdens reduce default risk, support continued investment in product development and customer onboarding, and give time to execute a turnaround without immediate refinancing pressure.

Recurring revenue model

A business model built on software licenses/subscriptions and ongoing support creates recurring, contractable revenue and higher customer lifetime value. This structure supports predictable cash inflows, upsell opportunities and margin improvement over time as subscription mix grows relative to one‑off services.

Logistics enterprise focus

Focused product set for logistics and field workforce management targets a structural market need: digitization of operations. Enterprise deployments create integration stickiness and regulatory/compliance value, supporting durable customer relationships and higher switching costs once implemented.

Negative Factors

Falling revenue and negative margins

Sustained revenue decline and negative operating margins constrain the company’s ability to reinvest in product and sales. Continued top‑line erosion plus losses suggest either weakening demand or competitive pressures, making margin recovery and scalable profitability a multi‑quarter challenge.

Cash flow volatility

Large percentage FCF improvement from a negative base highlights volatility rather than stability. Negative operating cash flow relative to net income indicates weak cash conversion, which can force dependence on external funding and limit consistent investment in sales, R&D, and customer support.

Negative return on equity

A negative ROE shows shareholder capital is not producing returns, reflecting persistent losses or inefficient capital deployment. Over months this undermines investor confidence, can constrain access to new equity financing, and limits the company’s ability to scale organically without dilutive funding.

Orcoda Limited Business Overview & Revenue Model

Company Description

Orcoda Limited provides smart technology transport logistics and transport services for the healthcare, transportation, distribution, and resources sectors in Australia. The company operates in two segments, Resource Logistics, and Healthcare and Transport Logistics. It offers solutions that combine software, management expertise, and contracting services. The company provides Orcoda Notify, a delivery tracking app; and Orcoda Workforce Logistics System, a digital platform that enables control over workforces in various phases and project lifecycles across project personnel, contractors, and suppliers. It also offers Orcoda Logistics Management System, a software that optimize, integrate, and digitally transform customer's transport operations offered to healthcare and transport logistics providers; healthcare logistics, a transport management solution, which improves client outcomes through optimizing transport services delivery; transport logistics solution that incorporates operational and customer service rules, which optimizes fleet's schedule; and resource logistics solution that contracts, manages, and digitally connects projects in oil and gas, mining, and infrastructure. The company was formerly known as SmartTrans Holdings Limited and changed its name to Orcoda Limited in August 2018. Orcoda Limited was incorporated in 1983 and is headquartered in Melbourne, Australia.

How the Company Makes Money

Orcoda Limited generates revenue through multiple streams, primarily from the sale of its software solutions and associated services. The company earns money by offering subscription-based licensing for its software, allowing clients to access its platforms for a recurring fee. Additionally, Orcoda provides consulting services to help businesses implement and optimize their software solutions, which contributes significantly to its revenue. The company also engages in strategic partnerships with other technology firms and industry stakeholders, enhancing its market reach and service offerings. These collaborations can lead to joint ventures and shared revenue opportunities, further boosting Orcoda's earnings.

Orcoda Limited Financial Statement Overview

Summary

Overall financials are weak: revenue fell 17.36% and profitability is negative (net margin -14.95% with negative EBIT/EBITDA margins). Leverage is manageable (debt-to-equity 0.23; equity ratio 71.92%), but ROE is negative (-15.18%) and cash flow remains volatile despite a rebound in free cash flow from a negative base.

Income Statement

Orcoda Limited's income statement reveals a challenging financial period. The company experienced a significant decline in revenue by 17.36% in the most recent year, indicating a downturn in business activity. Gross profit margin decreased to 12.14%, reflecting reduced efficiency in managing production costs. The net profit margin turned negative at -14.95%, highlighting losses. Both EBIT and EBITDA margins are negative, suggesting operational inefficiencies. Despite past revenue growth, the recent decline and negative profitability metrics present concerns.

Balance Sheet

The balance sheet shows a moderate financial position. The debt-to-equity ratio is relatively low at 0.23, indicating manageable leverage. However, the return on equity is negative at -15.18%, reflecting poor profitability relative to shareholder investment. The equity ratio stands at 71.92%, suggesting a solid equity base relative to total assets. While leverage is under control, the negative ROE and declining equity highlight potential risks.

Cash Flow

Cash flow analysis indicates mixed results. Free cash flow grew significantly by 169.47%, but this is from a negative base, indicating volatility. The operating cash flow to net income ratio is negative, suggesting cash flow challenges in covering net losses. The free cash flow to net income ratio is positive at 1.09, indicating some ability to generate cash relative to net income. Despite improvements in free cash flow, overall cash flow stability remains a concern.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	16.70M	16.70M	25.07M	19.91M	16.07M	7.65M
Gross Profit	2.03M	2.03M	5.16M	3.82M	3.56M	1.98M
EBITDA	-1.24M	-1.24M	2.43M	1.49M	890.59K	874.00K
Net Income	-2.50M	-2.50M	905.31K	395.45K	-402.00K	440.01K
Balance Sheet
Total Assets	22.87M	22.87M	24.84M	22.39M	19.74M	17.58M
Cash, Cash Equivalents and Short-Term Investments	2.53M	2.53M	3.69M	4.45M	2.48M	2.37M
Total Debt	3.76M	3.76M	4.23M	4.16M	2.22M	1.85M
Total Liabilities	6.42M	6.42M	7.56M	6.52M	5.38M	4.73M
Stockholders Equity	16.45M	16.45M	17.28M	15.87M	14.36M	12.84M
Cash Flow
Free Cash Flow	-977.37K	-977.36K	1.24M	1.97M	498.03K	266.41K
Operating Cash Flow	-896.13K	-896.13K	1.98M	2.70M	1.09M	336.94K
Investing Cash Flow	38.92K	38.92K	-1.35M	-1.34M	-1.60M	-740.80K
Financing Cash Flow	-300.54K	-300.54K	-1.39M	722.94K	509.08K	1.40M

Orcoda Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.06
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ODA, the sentiment is Positive. The current price of 0.06 is below the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.06, and below the 200-day MA of 0.07, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 59.65 is Neutral, neither overbought nor oversold. The STOCH value of 55.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:ODA.

Orcoda Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WWG	74 Outperform	AU$55.95M	12.40	20.77%	4.55%	66.80%	625.00%
CLX	71 Outperform	AU$188.88M	12.84	11.37%	4.59%	1.33%	-11.07%
DBI	71 Outperform	AU$2.47B	27.97	8.17%	4.73%	13.19%	14.79%
KSC	70 Neutral	AU$477.60M	16.35	8.00%	4.73%	-9.67%	-6.49%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
ODA	49 Neutral	AU$13.13M	-4.86	-14.80%	―	-33.93%	-366.67%

Orcoda Limited Corporate Events

Orcoda Returns to Positive Cash Flow as Divisions Rebound and AI Solutions Gain Traction

Orcoda reported a stronger third quarter, with cash receipts from customers rising 17% to $5.99 million, operating cash flow turning positive at $1.14 million and free cash flow of $767,000, supported by $4.75 million in available working capital and annual recurring revenue of about $5.4 million. The Transport and Logistics Division increased its recurring revenue and expanded its pipeline in community transport and AI-enabled in-vehicle solutions, while the Resource and Infrastructure Division returned to cash flow positive and profitable after a period of customer-driven weakness, positioning the company to pursue larger domestic and international opportunities and signalling a renewed growth phase following cost reductions and operational streamlining.

The most recent analyst rating on (AU:ODA) stock is a Sell with a A$0.05 price target. To see the full list of analyst forecasts on Orcoda Limited stock, see the AU:ODA Stock Forecast page.

Orcoda Limited Announces Leadership Transition with New Managing Director

Orcoda Limited has announced the appointment of Mr. Patrick Bodegraven as the new Managing Director, effective November 17, 2025, succeeding Mr. Geoff Jamieson, who will remain with the company as CFO and Executive Director in a part-time capacity. This leadership transition is seen as a strategic move to guide Orcoda into its next phase of growth, leveraging Bodegraven’s extensive experience in managing complex deals and driving innovation in global technology firms. The change is expected to strengthen Orcoda’s market position and enhance its operational capabilities, benefiting stakeholders and aligning with the company’s long-term vision.

Orcoda Limited Director Increases Stake

Orcoda Limited announced a change in the director’s interest, specifically regarding Geoff Jamieson, who increased his indirect holdings by acquiring 2,857 fully paid ordinary shares through an on-market trade. This change reflects a slight increase in Jamieson’s stake in the company, potentially indicating confidence in Orcoda’s future performance and aligning with shareholder interests.