WAY 2 VAT LTD (AU:W2V)
ASX:W2V
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WAY 2 VAT LTD
(Sydney:W2V)
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Rating:42Neutral
Price Target:
AU$0.07
▼(-15.00% Downside)
Action:Reiterated
Date:03/24/26
The score is primarily constrained by weak financial quality—deep losses, significant cash burn, and high leverage—despite strong revenue growth and high gross margins. Technical signals also remain bearish (below key moving averages with negative MACD), while valuation is hard to support due to ongoing losses and no dividend yield data.
Positive Factors
Revenue Growth
Sustained double‑digit and accelerating top‑line growth signals expanding market adoption of W2V's VAT automation platform. Over a 2–6 month horizon this supports improving unit economics and scale benefits, increasing the likelihood revenue can drive future margin improvement if costs are controlled.
Negative Factors
Deep Unprofitability
Margins remain heavily negative, with a ~-102% net margin in 2025, meaning current revenues are far from covering operating costs. This structural loss profile makes the company dependent on achieving much higher scale or significant cost reductions to reach sustainable profitability over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained double‑digit and accelerating top‑line growth signals expanding market adoption of W2V's VAT automation platform. Over a 2–6 month horizon this supports improving unit economics and scale benefits, increasing the likelihood revenue can drive future margin improvement if costs are controlled.
Read all positive factors
WAY 2 VAT LTD (W2V) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$18.53M
Dividend YieldN/A
Average Volume (3M)3.22M
Price to Earnings (P/E)―
Beta (1Y)1.28
Revenue Growth41.38%
EPS Growth49.33%
CountryAU
Employees54
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)-0.03
Shares Outstanding261,027,900
10 Day Avg. Volume3,217,283
30 Day Avg. Volume3,217,283
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)11.24
Price to Sales (P/S)2.56
P/FCF Ratio-2.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)AU$10.80M
WAY 2 VAT LTD Business Overview & Revenue Model
Company Description
Way 2 Vat Ltd is a financial technology enterprise that delivers global solutions for the recovery and submission of Value Added Tax (VAT) and Goods and Services Tax (GST). The company maintains and operates an automated, comprehensive platform de...
How the Company Makes Money
WAY 2 VAT LTD generates revenue primarily through subscription-based fees for its VAT recovery platform and related services. The company assists businesses in reclaiming VAT on eligible transactions and charge a percentage-based commission on rec...
WAY 2 VAT LTD Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
24
Negative
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.43M | 3.01M | 2.05M | 1.30M | 1.32M |
| Gross Profit | 3.25M | 2.47M | 1.62M | 1.00M | 1.05M |
| EBITDA | ― | -2.99M | -3.74M | -4.34M | -4.54M |
| Net Income | ― | -3.62M | -4.25M | -4.56M | -6.38M |
Balance Sheet | |||||
| Total Assets | 8.18M | 4.48M | 4.15M | 4.51M | 5.18M |
| Cash, Cash Equivalents and Short-Term Investments | 512.49K | 76.00K | 493.00K | 1.03M | 3.13M |
| Total Debt | 2.72M | 2.22M | 1.90M | 848.00K | 1.09M |
| Total Liabilities | 6.99M | 5.80M | 5.15M | 4.31M | 2.36M |
| Stockholders Equity | 1.01M | -1.32M | -1.00M | 207.00K | 2.82M |
Cash Flow | |||||
| Free Cash Flow | -3.97M | -3.62M | -3.81M | -4.62M | -4.11M |
| Operating Cash Flow | -3.96M | -3.60M | -3.80M | -4.61M | -4.08M |
| Investing Cash Flow | -1.27M | -16.00K | -5.00K | -9.00K | -29.00K |
| Financing Cash Flow | 5.58M | 3.10M | 3.13M | 1.51M | 5.30M |
WAY 2 VAT LTD Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
48 Neutral | AU$5.40M | -1.96 | -53.27% | ― | 5.00% | -1714.29% | |
43 Neutral | AU$10.04M | -5.22 | 256.82% | ― | -64.74% | 61.11% | |
43 Neutral | AU$7.32M | -0.66 | -158.38% | ― | 35.38% | -21.46% | |
42 Neutral | AU$18.53M | -1.24 | -583.51% | ― | 41.38% | 49.33% | |
40 Underperform | AU$8.44M | -2.32 | -429.54% | ― | 1.42% | 71.28% |
* Technology Sector Average
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WAY 2 VAT LTD
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WAY 2 VAT LTD Corporate Events
Way2VAT Issues New Shares While Affirming Regulatory Compliance
Jun 18, 2026
Way2VAT Limited, a global fintech provider of automated VAT and GST reclaim solutions for enterprise clients, operates a patented AI-driven platform that delivers end-to-end tax reclaim services in over 40 countries and more than 20 languages. The...
Way 2 VAT Lists New Director Remuneration Shares on ASX
Jun 18, 2026
Way 2 VAT Ltd. has applied to the ASX for quotation of 1,464,845 ordinary fully paid shares, to be issued as remuneration to directors Adoram Ga’ash, David Buckingham and Robert Edgley. The grant, approved by shareholders at the 5 June 2026 ...
Way 2 VAT Issues Long-Dated Employee Options Under Incentive Scheme
Jun 18, 2026
Way 2 VAT Ltd. has notified the market of the issuance of 1,477,961 unquoted options under an employee incentive scheme, with each option expiring on January 29, 2036 and having an exercise price of ILS 0.10. The new options, which will not be quo...
Way 2 VAT Issues 37 Million Unquoted Options in Capital Management Move
Jun 18, 2026
Way 2 VAT Ltd. has notified the market of the issue of 37,142,858 unquoted options, each exercisable at $0.07 and expiring on 18 June 2029. The new options, which are not intended to be quoted on the ASX, form part of a previously announced transa...
Way2VAT Wins Strong Shareholder Backing at 2026 AGM
Jun 5, 2026
Way2Vat Limited, a fintech provider of AI-driven VAT and GST reclaim solutions for global enterprises, reported that all resolutions put to shareholders at its 5 June 2026 annual general meeting were passed by the required majorities via poll. The...
WAY 2 VAT Director Converts Options Into Fully Paid Shares
May 27, 2026
WAY 2 VAT director Amos Simantov has reported a change in his holdings, converting 61,553 options exercisable at a nominal NIS 0.01 into an equivalent number of fully paid ordinary shares. The transaction marginally shifts his mix of direct and in...
Way 2 VAT Sets Fully Virtual 2026 AGM for 5 June
Apr 30, 2026
Way 2 VAT Ltd has announced that its 2026 Annual General Meeting will be held as a fully virtual event on 5 June 2026 at 4:00 p.m. AEST, using an online platform provided by Automic. Shareholders are encouraged to create or update their Automic ac...
Way2VAT boosts Q1 growth and readies e‑invoicing launch amid regulatory tailwinds
Apr 27, 2026
Way2VAT reported strong Q1 FY26 growth, with unaudited quarterly revenue rising 95% year on year to $2.05 million and cash receipts more than doubling to $1.70 million. Accounts receivable edged up to about $7.5 million, while the recent acquisiti...
Way2VAT issues 37.1m new shares under cleansing notice
Apr 7, 2026
Way2VAT Limited has issued 37,142,858 fully paid ordinary shares without a disclosure document under the Australian Corporations Act, relying on the cleansing notice provisions. The company affirmed it is up to date with its financial reporting an...
Way 2 VAT Seeks ASX Quotation for 37 Million New Shares
Apr 7, 2026
Way 2 VAT Ltd. has applied to the ASX for quotation of 37,142,858 new ordinary fully paid shares under its issuer code W2V. The newly issued securities, which form part of previously announced transactions, are dated 7 April 2026 and will expand t...
Way2VAT Halts ASX Trading Ahead of Planned Capital Raising
Mar 31, 2026
Way2VAT Ltd has requested an immediate trading halt in its securities on the ASX, as the company prepares an announcement regarding a proposed capital raising, with trading expected to resume by 2 April 2026 or upon the release of further details....
Way 2 Vat Outlines 2026 Governance Framework and Diversity Progress
Mar 31, 2026
Way 2 Vat Ltd has issued its 2026 corporate governance statement, outlining broad adherence to the ASX Corporate Governance Council’s principles and clarifying the division of responsibilities between its board and management. The company de...
Way 2 Vat Details Governance Framework in 2025 Annual Report
Mar 31, 2026
Way 2 Vat Ltd has released its 2025 annual report, outlining its corporate structure, governance framework, and key professional advisers across Australia and Israel. The report highlights the company’s established operational base and cross...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.