Novacyt (FR:ALNOV)
:ALNOV
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Novacyt
(ALNOV)
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Rating:44Neutral
Price Target:
€0.43
▲(6.75% Upside)
Action:DowngradedDate:01/27/26
The score is primarily held back by weak financial performance (ongoing losses and negative cash flow), with only early improvement signals (revenue and free cash flow trending better) providing support. Technicals are mixed and do not yet confirm a sustained uptrend, while valuation remains unattractive due to continued unprofitability and no dividend support.
Positive Factors
Recurring consumable revenue
Novacyt's core revenue model is driven by per-test consumables (PCR/qPCR assay kits and reagents), creating recurring demand and customer stickiness. This structural revenue stream supports predictable mid-term cash flows and makes top-line more durable versus one-off sales.
Negative Factors
Persistent unprofitability
Sustained net losses and negative operating cash flow erode equity and limit internal funding for growth. Over months this forces reliance on external capital, increasing dilution or financing costs, and constrains the company’s ability to scale commercial operations and R&D sustainably.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumable revenue
Novacyt's core revenue model is driven by per-test consumables (PCR/qPCR assay kits and reagents), creating recurring demand and customer stickiness. This structural revenue stream supports predictable mid-term cash flows and makes top-line more durable versus one-off sales.
Read all positive factors
Novacyt (ALNOV) vs. iShares MSCI France ETF (EWQ)
Market Cap
€27.29M
Dividend YieldN/A
Average Volume (3M)141.10K
Price to Earnings (P/E)―
Beta (1Y)1.24
Revenue Growth5.10%
EPS Growth17.34%
CountryFR
Employees234
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.11
Shares Outstanding72,588,090
10 Day Avg. Volume69,615
30 Day Avg. Volume141,103
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.73
Price to Sales (P/S)1.79
P/FCF Ratio-3.20
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)-0.15
Revenue Forecast (FY)€26.09M
Novacyt Business Overview & Revenue Model
Company Description
Novacyt S.A., together with its subsidiaries, engages in the development, manufacture, contract design, and commercialization of diagnostic products for cancer and infectious diseases in the United Kingdom, rest of Europe, the United States, the A...
How the Company Makes Money
Novacyt generates revenue primarily through the sale of its diagnostic products, including molecular and immunodiagnostic tests. The company has established significant revenue streams from the demand for COVID-19 testing solutions, which have bee...
Novacyt Earnings Call Summary
Earnings Call Date:Apr 30, 2025
(Q4-2024)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive developments, including successful site consolidation and growth in key business segments, alongside significant financial losses and exceptional costs. While strategic initiatives and R&D investments show promise for future growth, the financial challenges and loss after tax weigh heavily on the current outlook.Positive Updates
Successful Site Consolidation
Novacyt consolidated their business footprint into a single Center of Excellence in Manchester, achieving GBP 3 million in savings on top of GBP 5 million from initial synergies.
Negative Updates
Significant Loss After Tax
Group reported a loss after tax attributable to the owners of just under GBP 42 million.
Read all updates
Q4-2024 Updates
Positive
Negative
Successful Site Consolidation
Novacyt consolidated their business footprint into a single Center of Excellence in Manchester, achieving GBP 3 million in savings on top of GBP 5 million from initial synergies.
Read all positive updates
Company Guidance
In the investor call, Novacyt provided guidance on several key metrics related to its operational and financial performance. The company successfully reduced its operating expenses (OpEx) from GBP 27 million to GBP 21 million, achieving GBP 3 million in additional savings from site consolidation and GBP 5 million from initial synergies. The gross profit for Fiscal Year 2024 was reported at GBP 32.1 million, with an underlying gross margin of 63%, meeting the company’s target of exceeding 60%. EBITDA loss was reduced by over 20% to GBP 9.1 million. Revenue has tripled over three years to GBP 19.6 million, driven by the Yourgene acquisition and strong growth in reproductive health, which saw a 26% increase year-on-year. The company also reported a net cash inflow of over GBP 7 million after resolving a dispute with DHSC, leading to a cash balance of GBP 30.5 million. Novacyt plans to invest GBP 2 million into R&D to drive organic growth, with the aim to self-fund the pathway to profitability.Novacyt Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
50
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.79M | 19.63M | 11.58M | 21.04M | 95.78M | 277.20M |
| Gross Profit | 6.51M | 32.07M | 3.73M | 5.75M | 29.68M | 211.13M |
| EBITDA | -5.12M | -34.31M | -18.24M | -11.68M | -4.20M | 168.24M |
| Net Income | -6.34M | -41.76M | -28.29M | -22.20M | -9.73M | 132.42M |
Balance Sheet | ||||||
| Total Assets | 63.33M | 70.63M | 133.81M | 140.90M | 183.70M | 234.28M |
| Cash, Cash Equivalents and Short-Term Investments | 23.87M | 30.46M | 44.06M | 86.98M | 101.75M | 91.77M |
| Total Debt | 11.02M | 11.88M | 13.70M | 872.00K | 1.87M | 2.38M |
| Total Liabilities | 22.22M | 22.75M | 46.57M | 25.68M | 41.88M | 83.57M |
| Stockholders Equity | 41.10M | 47.88M | 87.24M | 115.22M | 141.81M | 150.71M |
Cash Flow | ||||||
| Free Cash Flow | -5.66M | -11.01M | -25.66M | -14.14M | 11.59M | 101.80M |
| Operating Cash Flow | -5.47M | -9.15M | -24.99M | -13.73M | 15.69M | 102.98M |
| Investing Cash Flow | -171.00K | -1.88M | -13.94M | -577.00K | -5.03M | -7.96M |
| Financing Cash Flow | -1.11M | -1.84M | -3.97M | -516.00K | -599.00K | -5.04M |
Novacyt Technical Analysis
Negative
0.40
Price Trends
0.39
Negative
0.41
Negative
0.44
Negative
Market Momentum
>-0.01
Positive
43.90
Neutral
13.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALNOV, the sentiment is Negative. The current price of 0.4 is above the 20-day moving average (MA) of 0.38, above the 50-day MA of 0.39, and below the 200-day MA of 0.44, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.90 is Neutral, neither overbought nor oversold. The STOCH value of 13.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALNOV.
Novacyt Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | €22.74M | -5.20 | -17.18% | ― | 138.92% | 11.14% | |
47 Neutral | €167.05M | -0.80 | 59.08% | ― | 6.75% | 15.48% | |
44 Neutral | €27.29M | -2.19 | -14.58% | ― | 5.10% | 17.34% | |
42 Neutral | €227.12M | 26.96 | 1.32% | ― | 12.47% | -65.87% |
* Healthcare Sector Average
FR:ALNOV
Novacyt
0.38
-0.10
-20.34%
FR:ALERS
Eurobio-Scientific SA
22.70
-1.30
-5.42%
FR:ALDMS
Diagnostic Medical Systems
1.33
0.34
34.65%
FR:ALIKO
Ikonisys SA
1.44
0.03
2.49%
FR:ALEMG
Euromedis Groupe SA
4.78
1.18
32.81%
FR:ALMDT
Median Technologies
4.44
1.75
64.81%
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.