Orcoda Limited (ODA) AI Stock Analysis

• Market Cap: AU$9.75M
• Dividend Yield: N/A
• Average Volume (3M): 21.64K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.82
• 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$0.05 ▼(-13.33% Downside)
• Action: Reiterated Date: 01/22/26
• Date: Action: Reiterated 01/22/26

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

Recurring SaaS & services revenue mix

Orcoda’s core model—software licensing/subscriptions plus professional services and support—creates recurring revenue, customer lock-in and upsell paths. Over 2–6 months this supports predictability of cash inflows, margin expansion potential as recurring mix grows, and long-term customer lifetime value.

Low financial leverage

A low debt-to-equity ratio and strong equity base reduce solvency risk and preserve financial flexibility. This durable balance-sheet strength enables Orcoda to invest in product development or absorb cyclical shocks without near-term refinancing pressure, supporting long-term operational continuity.

Rebound in free cash flow

A large improvement in free cash flow, and FCF relative to net income above 1, indicates the company can convert operations into cash despite recent losses. Sustainably positive FCF strengthens capacity to fund product builds and services, reducing reliance on external capital over the medium term.

Negative Factors

Declining revenue

Sustained revenue contraction erodes scale economics and undermines recurring revenue foundations. Over several months this reduces capacity to invest in product improvements and sales, lowers customer acquisition efficiency, and makes achieving positive operating leverage and stable margins more difficult.

Negative and compressing margins

Thin gross margins and negative operating/net margins point to weak pricing power or cost absorption issues in delivery. Persistently negative margins limit reinvestment, constrain cash generation, and signal the business may struggle to scale profitably without structural cost or product mix improvements.

Negative returns on equity

A materially negative ROE signals the company is destroying shareholder capital rather than creating it. Over a multi-month horizon this undermines investor confidence, limits ability to raise growth capital on favorable terms, and indicates deeper issues in translating revenue into sustainable shareholder returns.

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 makes money primarily by selling and supporting its enterprise software solutions for logistics and field workforce management. Key revenue streams include: (1) Software licensing and/or subscription fees for use of its platforms and modules (e.g., planning, scheduling/dispatch, tracking, compliance and reporting functionality), typically priced based on factors such as number of users, vehicles/assets, sites, or contracted scope; (2) Professional services revenue from implementation projects, configuration/customisation, systems integration, and customer onboarding/training associated with deploying the software into customer operations; and (3) Ongoing support and maintenance revenue (or recurring service fees) for product updates, technical support, and continued operation of the deployed solution. Specific information on material partnerships, customer concentration, or the precise mix of recurring vs. services revenue is null.

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	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	16.82M	16.70M	25.07M	19.91M	16.07M	7.65M
Gross Profit	2.17M	2.03M	5.16M	3.82M	3.56M	1.98M
EBITDA	-531.86K	-1.24M	2.43M	1.49M	890.59K	874.00K
Net Income	-1.55M	-2.50M	905.31K	395.45K	-402.00K	440.01K
Balance Sheet
Total Assets	21.74M	22.87M	24.84M	22.39M	19.74M	17.58M
Cash, Cash Equivalents and Short-Term Investments	2.62M	2.53M	3.69M	4.45M	2.48M	2.37M
Total Debt	4.08M	3.76M	4.23M	4.16M	2.22M	1.85M
Total Liabilities	5.86M	6.42M	7.56M	6.52M	5.38M	4.73M
Stockholders Equity	15.88M	16.45M	17.28M	15.87M	14.36M	12.84M
Cash Flow
Free Cash Flow	-347.43K	-977.36K	1.24M	1.97M	498.03K	266.41K
Operating Cash Flow	-252.78K	-896.13K	1.98M	2.70M	1.09M	336.94K
Investing Cash Flow	-11.34K	38.92K	-1.35M	-1.34M	-1.60M	-740.80K
Financing Cash Flow	-209.16K	-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: Neutral
• 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 above 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 bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 32.44 is Neutral, neither overbought nor oversold. The STOCH value of -28.57 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$151.35M	3.47	14.98%	4.59%	1.33%	-11.07%
KSC	70 Neutral	AU$442.02M	10.20	6.54%	4.73%	-9.67%	-6.49%
WWG	68 Neutral	AU$43.04M	4.98	20.77%	4.55%	66.80%	625.00%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
DBI	51 Neutral	AU$2.43B	84.90	8.17%	4.73%	13.19%	14.79%
ODA	49 Neutral	AU$9.75M	-5.05	-9.60%	―	-33.93%	-366.67%

Orcoda Limited Corporate Events

Orcoda to Release 1.5 Million Escrowed Shares After Keaz IP Deal

Orcoda Limited has announced the imminent release from voluntary escrow of 1.5 million fully paid ordinary shares that were issued as consideration for its March 2025 acquisition of intellectual property from Keaz Limited. The shares, issued at $0.08 to an entity associated with the vendor and locked up for 12 months, will come out of escrow on 26 March 2026, potentially increasing tradable stock on the market and providing additional liquidity for stakeholders.

The most recent analyst rating on (AU:ODA) stock is a Hold 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 issues 1H FY26 results presentation with extensive investor risk disclaimer

Orcoda Limited has released a presentation of its first-half FY26 results, outlining performance and risk considerations for investors under Australian corporate law. The company emphasises that the material is informational only, does not constitute an offer of securities, and should not be the sole basis for any investment decision.

The document underscores that Orcoda’s securities carry investment risks, including potential loss of capital and lack of income or dividends, and that neither the company nor its affiliates guarantee returns or share price performance. It also stresses that certain statements are forward-looking, subject to uncertainties, and that Orcoda assumes no obligation to update them, while disavowing liability for reliance on the presentation’s completeness or accuracy.

Investors are urged to obtain independent legal, financial, and investment advice, as the presentation is not a prospectus, has not been lodged with regulators, and may omit information that a formal disclosure document would contain. The extensive disclaimer highlights Orcoda’s effort to manage legal exposure and frame stakeholder expectations regarding both its disclosed data and future performance indications.

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

Orcoda Narrows Half-Year Loss as Underlying Earnings Improve but No Dividend Declared

Orcoda Limited reported a 2% rise in revenue and other income to A$9.7 million for the half-year to 31 December 2025, while its net loss attributable to members narrowed 63% to A$566,000 as underlying EBITDA more than doubled to A$146,000. Net tangible asset backing per share slipped to 2.83 cents from 3.21 cents, no dividends were declared for the period, and auditors BDO Australia issued an unmodified review opinion, indicating stable reporting with modest operational improvement but continued losses and no change in group structure.

The company confirmed it neither gained nor lost control of any entities and has no dividend reinvestment plan or associates and joint ventures. Its results, compiled under Australian Accounting Standards and reviewed without qualification, suggest gradual financial progress but an ongoing focus on strengthening the balance sheet and moving towards sustainable profitability, which may temper near-term returns for shareholders.

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

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.