Orcoda Limited (ODA) AI Stock Analysis

• Market Cap: AU$9.38M
• Dividend Yield: N/A
• Average Volume (3M): 21.64K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.98
• 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: 45 Neutral
• Price Target: AU$0.05 ▼(-18.33% Downside)

The score is driven down primarily by weak financial performance (declining revenue and negative margins/ROE) and bearish technical signals (price below all key moving averages with negative MACD and very low RSI). Valuation is also constrained by loss-making earnings (negative P/E) and no dividend yield data.

Positive Factors

Manageable leverage and strong equity base

Low leverage and a high equity ratio provide a durable financial buffer. With debt-to-equity at 0.23 and an equity ratio near 72%, Orcoda has flexibility to absorb shocks, fund short-term investments or product development, and avoid immediate refinancing pressure over the medium term.

Recurring subscription and services revenue mix

A mix of subscription licensing, consulting services and strategic partnerships supports recurring revenue and client stickiness. This diversified model increases revenue visibility, smooths cash flows, and supports scalable service offerings—advantages that sustain business stability over months.

Improving free cash flow generation

Substantial FCF improvement indicates better cash conversion mechanics. While from a negative base, a 169% rise and FCF/net income >1 suggest the company is beginning to generate usable cash, which is crucial for funding operations, reducing dilution, and supporting gradual reinvestment over the medium term.

Negative Factors

Material revenue decline

A sustained top-line contraction (reported ~17% decline) undermines scale economics and market momentum. Continued revenue shrinkage reduces leverage on fixed costs, constrains R&D and sales investment, and makes achieving durable margin recovery and profitable growth more difficult over several quarters.

Negative profitability and ROE

Persistently negative margins and a -15% ROE signal the business is not currently creating shareholder value. Operating losses erode equity, increase reliance on external capital, and indicate structural inefficiencies that must be corrected to restore sustainable profitability and fund growth without dilution.

Very small workforce limits scaling

A headcount of just ten implies limited internal capacity for product development, sales expansion, and client support across logistics and resource sectors. This constrains execution speed, increases single-resource risk, and may force costly outsourcing or hiring ramps to achieve durable growth objectives.

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

Orcoda Limited faces significant financial challenges, with declining revenues and profitability impacting its income statement. The balance sheet shows controlled leverage but poor returns on equity. Cash flow improvements are overshadowed by underlying volatility and operational inefficiencies. The company needs to address revenue generation and cost management to improve its financial health.

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: Negative
• Last Price: 0.06
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ODA, the sentiment is Negative. The current price of 0.06 is below the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.07, and below the 200-day MA of 0.07, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 12.16 is Positive, neither overbought nor oversold. The STOCH value of 15.46 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:ODA.

Orcoda Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CLX	71 Outperform	AU$191.30M	13.00	11.37%	4.59%	1.33%	-11.07%
DBI	71 Outperform	AU$2.42B	27.46	8.17%	4.73%	13.19%	14.79%
WWG	71 Outperform	AU$43.04M	9.54	20.77%	4.55%	66.80%	625.00%
KSC	70 Neutral	AU$463.91M	15.89	8.00%	4.73%	-9.67%	-6.49%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
ODA	45 Neutral	AU$9.38M	-3.26	-14.80%	―	-33.93%	-366.67%

Orcoda Limited Corporate Events

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.

Orcoda Limited Announces Amended Constitution Approval

Orcoda Limited has announced the approval of its amended Constitution following a special resolution by its shareholders at the recent Annual General Meeting. This amendment is expected to impact the company’s governance and operational framework, potentially influencing its strategic positioning in the smart transport technology sector.

Orcoda Limited Announces Director’s Interest Change

Orcoda Limited has announced a change in the director’s interest, specifically involving Geoff Jamieson. The change reflects an off-market transfer of 7,143 fully paid ordinary shares at a value of $0.071 each, resulting in an updated holding of 537,134 shares. This adjustment in shareholding is part of routine management of interests and does not indicate any immediate strategic shift for the company.

Orcoda Limited Successfully Passes All Resolutions at 2025 AGM

Orcoda Limited announced that all resolutions were passed by poll at its reconvened 2025 Annual General Meeting. This outcome reflects shareholder support for the company’s strategic direction and governance, potentially strengthening its position in the transport technology industry and reassuring stakeholders of its commitment to future growth and innovation.

Orcoda Limited Reschedules AGM Due to Technical Issues

Orcoda Limited has announced the reconvening of its Annual General Meeting (AGM) to 31 October 2025, after technical issues with Automic’s online platform disrupted shareholder access and voting during the initial meeting. The adjournment allows all resolutions to be considered at the rescheduled virtual meeting, ensuring shareholder participation and decision-making processes are maintained. This move underscores Orcoda’s commitment to transparent governance and stakeholder engagement, despite the technical challenges faced.

Orcoda Limited Reports Strong Start to FY26 Amid Strategic Diversification

Orcoda Limited faced challenges in FY25, particularly in its Resource & Infrastructure Division due to a major customer deferring their works program. However, the company used this as an opportunity to diversify and reduce customer concentration risk, signing new contracts worth approximately $3 million. The first quarter of FY26 showed significant improvement with a 43% increase in revenue compared to the previous quarter. The Transport Technology Division also saw growth, with EBITDA reaching $2 million and recurring revenue totaling around $5.1 million. The company rebranded its software platforms to Contractor360 and Transport360, incorporating AI capabilities to better serve clients. These strategic decisions have positioned Orcoda for future growth, with promising opportunities in both divisions.

Orcoda Limited Reports Strong Growth with New SaaS Contracts

Orcoda Limited has announced a significant quarterly update, highlighting the signing of six new multiyear SaaS contracts across Australia and New Zealand, contributing to a 43% increase in group revenue to $5.4 million. The company’s transport and logistics division saw a rise in annual recurring revenue, while the resource and infrastructure division experienced a 40% revenue increase. These developments underscore Orcoda’s strategic growth and its commitment to expanding its footprint as the industry embraces AI-driven digital transformation.