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WhiteHawk Ltd.
(Sydney:WHK)
WhiteHawk Ltd. (WHK) vs. iShares MSCI Australia ETF (EWA)
WhiteHawk Ltd. Business Overview & Revenue Model
WhiteHawk Ltd. Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.16M | 2.08M | 1.80M | 3.22M | 2.30M |
| Gross Profit | 184.81K | 1.17M | 962.79K | 1.75M | 954.07K |
| EBITDA | -1.03M | -1.54M | -2.53M | -1.41M | -2.24M |
| Net Income | -1.24M | -1.78M | -2.84M | -1.54M | -2.47M |
Balance Sheet | |||||
| Total Assets | 795.11K | 1.59M | 777.60K | 4.35M | 2.97M |
| Cash, Cash Equivalents and Short-Term Investments | 654.52K | 1.07M | 103.03K | 3.20M | 1.35M |
| Total Debt | 23.68K | 425.07K | 727.90K | 531.94K | 94.14K |
| Total Liabilities | 344.64K | 1.52M | 1.58M | 4.20M | 1.61M |
| Stockholders Equity | 450.46K | 63.36K | -805.99K | 811.36K | 1.36M |
Cash Flow | |||||
| Free Cash Flow | 0.00 | -1.11M | -3.05M | -499.08K | -1.79M |
| Operating Cash Flow | -1.62M | -1.11M | -3.05M | -488.33K | -1.79M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | -7.45K | 91.08K |
| Financing Cash Flow | 1.18M | 2.07M | 983.88K | 1.20M | 889.11K |
WhiteHawk Ltd. Technical Analysis
WhiteHawk Ltd. Peers Comparison
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$32.74M | -17.78 | -64.51% | 4.99% | -38.38% | -275.50% | |
43 Neutral | AU$5.52M | -3.48 | ― | ― | 13.07% | 68.60% | |
42 Neutral | AU$8.51M | -1.21 | -54.62% | ― | -22.47% | 39.26% | |
42 Neutral | AU$4.76M | -0.75 | -23.31% | ― | 2.15% | -900.00% |
WhiteHawk Ltd. Corporate Events
WhiteHawk Limited has appointed Ms Louisa Ho as Company Secretary effective 1 March 2026, bringing in a legally qualified and commercially experienced governance specialist with a background in accounting, law and corporate compliance for ASX-listed companies. Current Company Secretary Mrs Mindy Ku will step down on 31 March 2026, marking a planned transition in the company’s governance leadership that is likely to support its ongoing regulatory compliance and corporate advisory needs as it advances its cyber security platform and services.
The board acknowledged Mrs Ku’s contributions during her tenure, underscoring the importance of continuity and expertise in the company secretarial function for a growth-focused cyber security firm operating in regulated markets. The addition of Ms Ho, who has worked across chartered accounting and law firms on construction, commercial, statutory liability and corporate matters, reinforces WhiteHawk’s capacity to manage complex governance obligations as it expands its cloud-based, AI-driven cyber risk solutions to enterprises, suppliers and broader organizational portfolios.
The most recent analyst rating on (AU:WHK) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on WhiteHawk Ltd. stock, see the AU:WHK Stock Forecast page.
WhiteHawk reported US$2.1 million in revenue for 2025, including previously invoiced unearned revenue, and ended the year with a cash balance of US$654,000, while recording a post-tax loss influenced by non-cash items such as depreciation, share-based payments and finance expenses. Despite modest finances, the company advanced its position through a U.S. GSA supply chain risk contract vehicle, new global investment and education sector clients, and expanded cyber services including scalable CMMC certification offerings.
Strategically, WhiteHawk signed a teaming agreement with U.S. defence contractor Leidos for a major US$2 billion cyber contract recompete and launched an APEC-focused operation targeting AUKUS and highly regulated industries. The company also developed automated and semi-automated compliance and cyber risk analytics platforms, including fully automated Cyber Risk Radar AI/ML portfolio tools and joint solution initiatives like RiskWise with Novera, aiming to cut client compliance time and improve margins while scaling delivery across large portfolios.
The most recent analyst rating on (AU:WHK) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on WhiteHawk Ltd. stock, see the AU:WHK Stock Forecast page.
WhiteHawk Limited has applied to the Australian Securities Exchange for quotation of 1,000,000 ordinary fully paid shares under its existing ticker WHK, with an issue date of 24 February 2026. The move modestly increases the company’s listed share capital, which may enhance trading liquidity and broaden its investor base, though the announcement does not specify the underlying purpose or transaction driving the new issuance.
The application confirms compliance with ASX Listing Rules for the quotation of these securities and records the company’s Australian Business Number and issuer details. For existing shareholders, the additional quoted shares represent a small dilution but could support improved market visibility and ease of access for new investors, depending on how the new securities are allocated and received by the market.
The most recent analyst rating on (AU:WHK) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on WhiteHawk Ltd. stock, see the AU:WHK Stock Forecast page.
WhiteHawk Limited has issued 3,237,260 fully paid ordinary shares following the conversion of performance rights under its shareholder-approved Performance Rights and Options Plan, along with 50,000 fully paid ordinary shares under its Stock Appreciation Rights plan to an employee. By lodging a cleansing notice under section 708A(5)(e) of the Corporations Act, the company confirms these shares can be freely traded without a disclosure document, while affirming its compliance with continuous disclosure obligations as it continues to explore, but has not yet finalised, potential strategic joint ventures and acquisition opportunities aligned with its growth strategy.
The most recent analyst rating on (AU:WHK) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on WhiteHawk Ltd. stock, see the AU:WHK Stock Forecast page.
WhiteHawk Ltd has disclosed a change in director Melissa King’s equity holdings following the conversion of performance rights into ordinary shares. King’s direct holding of ordinary shares increased by 237,260 to 1,565,246, while her performance rights decreased by the same amount to 400,000, with no cash consideration involved. The change reflects the satisfaction of vesting milestone conditions under the company’s remuneration arrangements, indicating ongoing alignment of director incentives with shareholder interests rather than a market trade or new capital raising, and is not associated with any change in contractual interests or trading during a closed period.
The most recent analyst rating on (AU:WHK) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on WhiteHawk Ltd. stock, see the AU:WHK Stock Forecast page.
WhiteHawk Limited has applied to the ASX for quotation of 3,237,260 new fully paid ordinary shares, to be issued under its existing WHK ticker on 2 February 2026. The additional securities, arising from the exercise or conversion of existing options or other convertible instruments, will expand the company’s quoted share capital, modestly increasing its free float and potentially enhancing liquidity for shareholders.
The most recent analyst rating on (AU:WHK) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on WhiteHawk Ltd. stock, see the AU:WHK Stock Forecast page.
WhiteHawk Limited has applied to the ASX for quotation of 50,000 new ordinary fully paid shares issued under an employee incentive scheme, with the securities to be listed under its existing ticker WHK. The move modestly expands the company’s quoted share capital and signals continued use of equity-based remuneration to incentivise staff, though the small volume suggests limited immediate impact on overall ownership structure or market liquidity for existing shareholders.
The most recent analyst rating on (AU:WHK) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on WhiteHawk Ltd. stock, see the AU:WHK Stock Forecast page.
WhiteHawk Limited has notified the market of the issue of 3,000,000 unquoted performance rights, expiring on 9 November 2029, under an employee incentive scheme, effective 2 February 2026. The new performance rights are not intended to be quoted on the ASX, indicating the company’s continued use of equity-based incentives to retain and motivate staff while potentially diluting existing shareholders if the rights vest and convert in future.
The most recent analyst rating on (AU:WHK) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on WhiteHawk Ltd. stock, see the AU:WHK Stock Forecast page.
WhiteHawk Limited has outlined the terms and conditions governing 3,000,000 performance rights issued under its shareholder-approved Performance Rights and Options Plan. The performance rights are granted for nil consideration and vest in three classes over one, two and three years, contingent on continuous employment and the company achieving escalating aggregate revenue milestones of A$250,000, A$500,000 and A$750,000 respectively; each right converts into one ordinary share upon exercise before the four-year expiry in November 2029, but carries no voting, dividend or new-issue participation rights prior to exercise and is generally non-transferable, reinforcing a long-term, performance-based incentive structure for employees.
The most recent analyst rating on (AU:WHK) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on WhiteHawk Ltd. stock, see the AU:WHK Stock Forecast page.
WhiteHawk has secured a series of new contracts, partnerships and sales channels, highlighted by a US$246,000 grant-backed pilot in Miami-Dade County Public Schools that will create up to 160 cybersecurity internships and deliver cyber risk and vulnerability assessments to as many as 20 local critical-infrastructure and small business entities, particularly those needing Cybersecurity Maturity Model Certification (CMMC) to participate in US defense contracting. Following the formal implementation of the US Department of Defense’s CMMC 2.0 rule in November, the company has signed new CMMC-related contracts with three Defense Industrial Base firms, executed a Master Software & Services Agreement with Evolver to power its new CLEAR supply-chain risk solution, entered a teaming agreement with Leidos for the US$1.9 billion SOCOM APOLLO opportunity, booked two Essential Eight compliance contracts in its APEC unit, and launched a Carahsoft-led marketing campaign for its Cyber Analyst PaaS, collectively expanding its footprint in US federal, defense, education and highly regulated markets while reinforcing its positioning as an automated, scalable cyber risk platform provider.