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Novacyt S.A. (FR:ALNOV)
:ALNOV
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Novacyt (ALNOV) AI Stock Analysis

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FR:ALNOV

Novacyt

(OTC:ALNOV)

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Neutral 49 (OpenAI - 4o)
Rating:49Neutral
Price Target:
€0.50
▲(8.70% Upside)
Novacyt's overall stock score is primarily impacted by its challenging financial performance and valuation concerns. While there are positive signs from recent revenue growth and strategic initiatives, significant financial losses and negative cash flows remain critical issues. Technical indicators suggest potential stabilization, but the stock's long-term momentum is bearish.

Novacyt (ALNOV) vs. iShares MSCI France ETF (EWQ)

Novacyt Business Overview & Revenue Model

Company DescriptionNovacyt S.A. is a global diagnostics company specializing in the development, manufacturing, and commercialization of innovative diagnostic tests and products, primarily in the fields of infectious diseases, oncology, and other medical conditions. The company operates in various sectors, including molecular diagnostics and immunodiagnostics, offering a range of products that leverage advanced technologies to provide rapid and accurate results. Novacyt's core product offerings include PCR tests for the detection of viral infections, including COVID-19, as well as other diagnostic solutions that cater to both clinical and research applications.
How the Company Makes MoneyNovacyt 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 been a major contributor to its earnings during the pandemic. Additionally, Novacyt partners with various healthcare organizations, laboratories, and distributors to expand its market reach and enhance its product offerings. These partnerships often involve collaborative agreements that can lead to additional sales and shared resources. Moreover, the company invests in research and development to innovate and diversify its product portfolio, which aims to address a broader range of diagnostic needs and improve its competitive position in the market.

Novacyt Earnings Call Summary

Earnings Call Date:Sep 30, 2025
(Q4-2024)
|
% Change Since: |
Next Earnings Date:Apr 23, 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.
Q4-2024 Updates
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.
Reproductive Health Growth
Reproductive health segment showed a 26% year-on-year growth, with significant contributions from cystic fibrosis and NIPT products.
Resolution of DHSC Dispute
Successfully resolved the Department of Health and Social Care dispute, resulting in a net cash inflow of over GBP 7 million.
Strong Gross Margin
Achieved an underlying gross margin of 63%, driven by strong sales in the PCR product range.
Reduction in EBITDA Loss
Reduced the EBITDA loss by over 20%, down to GBP 9.1 million.
Strategic Investment in R&D
Reinvested over GBP 2 million into R&D to drive organic growth, with expectations of incremental sales in H2.
Negative Updates
Significant Loss After Tax
Group reported a loss after tax attributable to the owners of just under GBP 42 million.
Impact of DHSC Settlement on OpEx
OpEx costs were inflated by the DHSC dispute settlement, resulting in a high underlying OpEx of GBP 21 million for 2024.
Decline in Instrument Sales
Ranger technology saw a flattening of instrument sales, though consumables increased by 13%.
Material Impacts from Exceptional Costs
Incurred exceptional costs totaling around GBP 21 million from goodwill impairment and DHSC dispute-related expenses.
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
Novacyt faces significant financial challenges, with consistent losses, declining revenues, and negative cash flows. While debt levels are low, equity has been eroding. The company needs to improve operational efficiency and explore revenue growth opportunities to stabilize its financial health. Despite these challenges, recent revenue growth and improved free cash flow are positive signs that may indicate the beginning of a turnaround.
Income Statement
35
Negative
The income statement reveals significant challenges, with declining revenues over the years and consistent net losses. Gross profit margin is exceptionally low, indicating high cost relative to revenue. The net profit margin is negative, highlighting unprofitability. However, there was a revenue growth of 69.5% from 2023 to 2024, which is a positive development.
Balance Sheet
50
Neutral
The balance sheet shows a decrease in total assets and stockholders' equity over the years, which is concerning. However, the company has managed to keep its debt levels relatively low. The debt-to-equity ratio remains low at 0.25, indicating manageable leverage levels. Despite a declining equity position, the company maintains a decent equity ratio of 67.8%.
Cash Flow
40
Negative
Cash flow analysis indicates negative free cash flow in recent years, reflecting cash consumption rather than generation. The operating cash flow is negative, suggesting operational inefficiencies. However, there is an improvement in free cash flow from 2023 to 2024, with a growth rate of 57.1%, indicating some progress.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue12.13M19.63M11.58M21.04M95.78M277.20M
Gross Profit979.86K32.07M3.73M5.75M29.68M211.13M
EBITDA-6.52M-34.31M-18.24M-11.68M-4.20M174.97M
Net Income-29.43M-41.76M-28.29M-22.20M-9.73M132.42M
Balance Sheet
Total Assets133.81M70.63M133.81M140.90M183.70M234.28M
Cash, Cash Equivalents and Short-Term Investments44.06M30.46M44.06M86.98M101.75M91.77M
Total Debt13.70M11.88M13.70M872.00K1.87M2.38M
Total Liabilities46.57M22.75M46.57M25.68M41.88M83.57M
Stockholders Equity87.24M47.88M87.24M115.22M141.81M150.71M
Cash Flow
Free Cash Flow-15.67M-11.01M-25.66M-14.14M11.59M101.80M
Operating Cash Flow-15.34M-9.15M-24.99M-13.73M15.69M102.98M
Investing Cash Flow-6.46M-1.88M-13.94M-577.00K-5.03M-7.96M
Financing Cash Flow-2.25M-1.84M-3.97M-516.00K-599.00K-5.04M

Novacyt Technical Analysis

Technical Analysis Sentiment
Negative
Last Price0.46
Price Trends
50DMA
0.47
Negative
100DMA
0.47
Negative
200DMA
0.51
Negative
Market Momentum
MACD
<0.01
Positive
RSI
45.97
Neutral
STOCH
39.58
Neutral
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 0.46 is below the 20-day moving average (MA) of 0.47, below the 50-day MA of 0.47, and below the 200-day MA of 0.51, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 45.97 is Neutral, neither overbought nor oversold. The STOCH value of 39.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALNOV.

Novacyt Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
€246.13M104.861.32%12.47%-65.87%
$7.86B-0.30-43.30%2.27%22.53%-2.21%
€32.59M-49.48%5.10%17.34%
€113.04M6.75%15.48%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
FR:ALNOV
Novacyt
0.46
-0.19
-29.51%
FR:ALERS
Eurobio-Scientific SA
24.30
-1.60
-6.18%
FR:ALDMS
Diagnostic Medical Systems
1.33
0.49
58.33%
FR:ALIKO
Ikonisys SA
1.49
0.04
2.41%
FR:ALEMG
Euromedis Groupe SA
3.92
-1.20
-23.44%
FR:ALMDT
Median Technologies
2.90
-0.95
-24.68%

Novacyt Corporate Events

Business Operations and StrategyFinancial Disclosures
Novacyt Unveils Growth Strategy and FY25 Outlook
Positive
Oct 22, 2025

Novacyt S.A. has announced a strategy update and an investor presentation detailing its growth plan and financial outlook for FY25. The company anticipates a slight increase in revenues for the second half of 2025, driven by new instrument sales, and expects improvements in EBITDA loss and cash outflow. Novacyt has set organic financial goals, including double-digit revenue growth starting FY26, maintaining a gross margin over 60%, and achieving EBITDA profitability. The company is focusing on restructuring and leveraging its core capabilities to meet emerging market needs, with investments to accelerate product launches and a mixed strategy of licensing and in-house product development.

Stock BuybackRegulatory Filings and Compliance
Novacyt Provides Update on Liquidity Agreement and Voting Rights
Neutral
Oct 1, 2025

Novacyt announced its monthly update on the Liquidity Agreement with Invest Securities SA, detailing the trading of ordinary shares from September 1 to September 30, 2025. During this period, 16,600 shares were purchased and 18,216 shares were sold, with the total number of shares held in treasury at 104,912. The total voting rights stand at 70,626,248 shares, which shareholders can use to determine their interest in the company. The Liquidity Agreement, governed by French law, allows Invest Securities to purchase shares on behalf of Novacyt, with shareholder approval granted for purchases up to €5.00 per share.

Novacyt S.A. Reports Stable Revenue Amid Strategic Growth
Oct 1, 2025

Novacyt S.A. is an international molecular diagnostics company specializing in genomic medicine, offering a wide range of molecular assays and instrumentation for sectors such as human health, animal health, and environmental applications. In its latest half-year financial report for 2025, Novacyt reported a slight decline in revenue to £9.8 million compared to the previous year, with a notable increase in demand for its reproductive health products, particularly in the Asia-Pacific region. The company also launched a new genomic research instrument, LightBench® Discover, and received EU accreditation for its Yourgene assays. Despite a reduced EBITDA loss of £4.1 million, Novacyt remains debt-free with a cash reserve of £23.7 million, reflecting its strategic focus on cost-saving measures and R&D investment. Looking ahead, Novacyt’s management is optimistic about achieving EBITDA profitability through organic growth, having resolved legacy issues and streamlined operations to focus on product development and market expansion.

Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Novacyt Reports Steady Growth and Strategic Advancements in H1 2025
Positive
Sep 30, 2025

Novacyt S.A. reported its unaudited interim results for the first half of 2025, highlighting a period of consolidation aimed at long-term growth. The company experienced a slight increase in underlying group revenue, driven by strong demand in its reproductive health products, particularly in the APAC region. Despite a reduction in statutory revenue, the company managed to reduce its EBITDA loss through cost-saving initiatives. Novacyt launched the LightBench® Discover instrument for genomic research labs, which has shown promising initial sales. The company also received EU accreditation for its Yourgene QST*R Base assay, demonstrating its commitment to maintaining high-quality standards in its products. With a robust balance sheet, Novacyt is well-positioned to continue investing in R&D and expanding its product adoption globally.

Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Novacyt Reports Steady Growth and Strategic Advancements in H1 2025
Positive
Sep 30, 2025

Novacyt S.A. reported its unaudited interim results for the first half of 2025, showing a period of consolidation aimed at long-term growth. The company achieved a 2% revenue increase, excluding the impact of a divestment, and saw strong demand in the reproductive health segment, particularly in the APAC region. The company launched the LightBench® Discover instrument for genomic research labs and received EU accreditation for key assays. Despite a slight decline in overall revenue, Novacyt reduced its EBITDA loss and maintained a strong cash position, positioning itself for future profitability and growth.

Financial Disclosures
Novacyt to Announce Interim Results for H1 2025
Neutral
Sep 18, 2025

Novacyt S.A. announced it will release its unaudited interim results for the first half of 2025 on September 30, 2025. This announcement is significant for stakeholders as it provides insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and investor confidence.

Business Operations and StrategyExecutive/Board Changes
Novacyt Appoints Singer Capital Markets as Joint Corporate Broker
Positive
Sep 15, 2025

Novacyt S.A. has announced the appointment of Singer Capital Markets as its joint corporate broker, effective immediately. This strategic move is expected to enhance Novacyt’s market presence and strengthen its financial advisory team, working alongside SP Angel, the company’s existing joint corporate broker. The appointment reflects Novacyt’s commitment to bolstering its corporate governance and investor relations, potentially impacting its operations and industry positioning positively.

Business Operations and StrategyLegal Proceedings
Novacyt Concludes Legal Proceedings with Lab 21 Subsidiary
Neutral
Sep 12, 2025

Novacyt S.A. announced the conclusion of legal proceedings involving its non-trading subsidiary, Lab 21 Healthcare Ltd, which faced health and safety charges related to the use of biological agents at its Axminster site. Lab 21 pleaded guilty and was fined £52,000, a sum that will not materially affect Novacyt’s financial position. This resolution marks the end of the case, with no further legal action anticipated, thus allowing Novacyt to continue focusing on its core business operations without additional liabilities from this matter.

Other
Novacyt Updates on Liquidity Agreement and Share Trading
Neutral
Sep 1, 2025

Novacyt S.A. has provided an update on its liquidity agreement with Invest Securities SA, detailing the trading of its ordinary shares during August 2025. The company reported that 26,541 shares were purchased and 30,020 shares were sold under the agreement. The total number of ordinary shares in the company is 70,626,248, which shareholders can use for calculations regarding their interests. The liquidity agreement, governed by French law, allows Invest Securities to purchase shares on behalf of Novacyt, with shareholder approval for purchases up to a maximum price of €5.00 per share.

Regulatory Filings and Compliance
Novacyt Updates on Liquidity Agreement and Voting Rights
Neutral
Aug 1, 2025

Novacyt S.A. has provided an update on its liquidity agreement with Invest Securities SA, detailing the purchase and sale of ordinary shares during July 2025. The company reported that 14,521 shares were purchased and 8,516 shares were sold under the agreement. The total number of ordinary shares in the company is 70,626,248, which shareholders can use for interest calculations. This update reflects Novacyt’s ongoing efforts to manage its share liquidity and maintain transparency with its stakeholders.

Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Novacyt Reports Steady Growth and Launches New Genomic Research Tool
Positive
Jul 29, 2025

Novacyt S.A. reported an unaudited trading update for the first half of 2025, with group revenue expected to be around £9.8 million, a slight decrease from the previous year. Despite this, the company saw growth in its clinical segment and NIPT technologies, with significant demand in the APAC region. Novacyt remains debt-free with a strong cash position, supporting its path to EBITDA profitability. The launch of LightBench® Discover positions Novacyt at the forefront of genomic research, marking a significant milestone post-restructuring.

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.Date of analysis: Oct 29, 2025