Cambridge Cognition Holdings Plc (GB:COG)
LSE:COG
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Cambridge Cognition Holdings
(LSE:COG)
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Rating:46Neutral
Price Target:
38.00 p
▲(35.71% Upside)
Action:ReiteratedDate:04/14/26
The score is primarily held back by weak financial performance driven by ongoing losses and continued negative free cash flow, despite improving cash burn and a strengthened balance sheet. Technical indicators are neutral and do not add strong support, while valuation is constrained by a negative P/E and no dividend data.
Positive Factors
High gross margins
Sustained gross margins near 74%–81% reflect software-heavy, scalable unit economics for cognitive assessment products. High gross profitability provides structural leverage: fixed costs can be absorbed as revenue grows, supporting durability of margins and faster path to operating profitability if sales recover.
Negative Factors
Multi-year losses
Persistent operating and net losses over multiple years indicate a structural mismatch between operating cost base and revenue. This trend erodes retained capital, undermines ability to deliver shareholder returns, and suggests management must either materially grow revenue or compress costs to achieve sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sustained gross margins near 74%–81% reflect software-heavy, scalable unit economics for cognitive assessment products. High gross profitability provides structural leverage: fixed costs can be absorbed as revenue grows, supporting durability of margins and faster path to operating profitability if sales recover.
Read all positive factors
Cambridge Cognition Holdings (COG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£16.99M
Dividend YieldN/A
Average Volume (3M)32.00K
Price to Earnings (P/E)―
Beta (1Y)0.85
Revenue Growth-30.77%
EPS Growth-6.97%
CountryUK
Employees119
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)-0.01
Shares Outstanding46,629,700
10 Day Avg. Volume24,264
30 Day Avg. Volume32,004
Financial Highlights & Ratios
PEG Ratio0.44
Price to Book (P/B)4.06
Price to Sales (P/S)1.29
P/FCF Ratio-46.34
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£56.00Price Target Upside100.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)<0.01
Revenue Forecast (FY)£12.13M
Cambridge Cognition Holdings Business Overview & Revenue Model
Company Description
Cambridge Cognition Holdings Plc, a neuroscience technology company, develops and markets near-patient cognitive testing techniques in the United States, United Kingdom, the European Union, and internationally. The company offers CANTAB Recruit, a...
How the Company Makes Money
Cambridge Cognition makes money by providing cognitive assessment products and related services, primarily to organisations running clinical research and drug development programs. Revenue is typically generated through: (1) licensing or usage fee...
Cambridge Cognition Holdings Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
58
Neutral
Cash Flow
27
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 9.40M | 10.34M | 13.52M | 12.61M | 10.09M |
| Gross Profit | 7.01M | 8.39M | 10.80M | 9.32M | 8.08M |
| EBITDA | -960.00K | -542.00K | -2.62M | -514.00K | 412.00K |
| Net Income | -1.68M | -1.78M | -3.51M | -409.00K | 450.00K |
Balance Sheet | |||||
| Total Assets | 11.28M | 13.03M | 14.23M | 15.11M | 12.54M |
| Cash, Cash Equivalents and Short-Term Investments | 1.13M | 1.30M | 3.23M | 8.32M | 6.81M |
| Total Debt | 873.00K | 1.91M | 2.56M | 18.00K | 18.00K |
| Total Liabilities | 8.29M | 9.67M | 12.95M | 15.01M | 11.91M |
| Stockholders Equity | 2.99M | 3.36M | 1.28M | 95.00K | 632.00K |
Cash Flow | |||||
| Free Cash Flow | -262.00K | -3.09M | -5.00M | 1.49M | 3.88M |
| Operating Cash Flow | -232.00K | -3.08M | -4.97M | 1.68M | 3.93M |
| Investing Cash Flow | -30.00K | 50.00K | -3.02M | -189.00K | -105.00K |
| Financing Cash Flow | 152.00K | 1.13M | 2.88M | -132.00K | -86.00K |
Cambridge Cognition Holdings Technical Analysis
Neutral
28.00
Price Trends
39.61
Negative
34.97
Positive
33.81
Positive
Market Momentum
-0.48
Positive
39.25
Neutral
28.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:COG, the sentiment is Neutral. The current price of 28 is below the 20-day moving average (MA) of 37.30, below the 50-day MA of 39.61, and below the 200-day MA of 33.81, indicating a neutral trend. The MACD of -0.48 indicates Positive momentum. The RSI at 39.25 is Neutral, neither overbought nor oversold. The STOCH value of 28.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:COG.
Cambridge Cognition Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | £50.05M | 2.68 | 8.84% | ― | ― | ― | |
57 Neutral | £139.58M | -5.17 | -3.95% | ― | 31.83% | 46.59% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | £6.83M | -7.18 | -15.57% | ― | 13.32% | 55.07% | |
46 Neutral | £16.99M | -7.25 | -58.72% | ― | -30.77% | -6.97% | |
40 Underperform | £8.37M | -0.25 | -316.67% | ― | 72.17% | 79.03% | |
40 Underperform | £18.29M | -6.19 | -213.66% | ― | 39.88% | 81.33% |
* Healthcare Sector Average
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Cambridge Cognition Holdings Corporate Events
Business Operations and StrategyFinancial Disclosures
Cambridge Cognition Returns to Growth as New Orders Surge and Market Reach Widens
Positive
Apr 13, 2026
Cambridge Cognition reported a strong rebound in 2025 new business, with sales orders surging 73% to £12.8m and the year-end order book up 21% to £16.5m, even as revenues slipped 10% to about £9.4m due to a weak opening order book a...
Business Operations and StrategyFinancial Disclosures
Cambridge Cognition Sets Date to Release 2025 Full-Year Results
Neutral
Apr 7, 2026
Cambridge Cognition Holdings, a neuroscience technology firm focused on digital cognitive assessment solutions for clinical trials, academic research, healthcare providers and consumer wellness, is building a global brand to address growing demand...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Cambridge Cognition appoints new NOMAD and updates on chairman’s past directorships
Neutral
Apr 7, 2026
Cambridge Cognition Holdings has appointed Cavendish Capital Markets as its Nominated Adviser and Joint Broker, strengthening its capital markets support while Singer Capital Markets continues as Joint Corporate Broker. The company also disclosed ...
Regulatory Filings and Compliance
Cambridge Cognition Reports Stable Share Option Pool in Latest Block Listing Return
Positive
Apr 1, 2026
Cambridge Cognition Holdings, a neuroscience technology group, develops digital cognitive assessment tools that are delivered via touchscreen and voice interfaces under the CANTAB and Winterlight brands. Its CANTAB Pathway suite offers scalable so...
Business Operations and StrategyProduct-Related Announcements
Cambridge Cognition Reports First Patient Dosed in Monument Therapeutics Psychosis Risk Trial
Positive
Mar 11, 2026
Cambridge Cognition reported that Monument Therapeutics, in which it holds a 20% stake, has dosed the first patient in a clinical trial of MT1988 for individuals at clinical high risk of psychosis. The study, run with the Foundation for the Nation...
Business Operations and StrategyProduct-Related Announcements
Cambridge Cognition and Ivory to Roll Out Digital Cognitive Screening Across India
Positive
Feb 16, 2026
Cambridge Cognition has entered a strategic partnership with Indian brain health startup Ivory to commercialise its CANTAB Pathway digital cognitive assessment platform across professional healthcare and consumer health markets in India. Leveragin...
Business Operations and Strategy
Cambridge Cognition Appoints Singer Capital Markets as Joint Broker
Positive
Feb 9, 2026
Cambridge Cognition Holdings has appointed Singer Capital Markets as a joint corporate broker with immediate effect, following the transfer of Dowgate Capital’s corporate broking, advisory and research team to Singer. The move refreshes the ...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Cambridge Cognition boosts order book and expands into healthcare as 2025 sales surge
Positive
Jan 19, 2026
Cambridge Cognition reported a strong rebound in commercial momentum for 2025, with new sales orders surging 73% to £12.8m and the year-end order book rising 25% to £16.9m, even as reported revenues declined 10% to about £9.4m due t...
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.