Catenae Innovation Plc (CTAI) AI Stock Analysis

• Market Cap: £3.66M
• Dividend Yield: N/A
• Average Volume (3M): 55.80M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.53
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 4
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): N/A
• Shares Outstanding: 1,433,860,400
• 10 Day Avg. Volume: 54,829,643
• 30 Day Avg. Volume: 55,795,691
• PEG Ratio: 0.07
• Price to Book (P/B): 2.19
• Price to Sales (P/S): 6.75
• P/FCF Ratio: -1.32
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: 0.25p ▲(5.83% Upside)

The score is held down primarily by severe ongoing losses and significant cash burn, despite improving revenue and a cleaner balance sheet (no debt, positive equity). Technical signals are broadly weak-to-neutral, and valuation is difficult to support due to negative earnings and no provided dividend yield.

Positive Factors

Revenue Rebound

A ~38% revenue rebound in 2024 signals renewed market demand and top-line momentum. If sustained, higher revenue can leverage fixed costs, improve operating leverage and provide a clearer path to narrowing losses, reducing urgency for emergency funding.

Debt-free Balance Sheet

Zero total debt and positive equity (~£405k) materially reduce insolvency and interest burdens, giving management flexibility to prioritise scaling or restructuring without immediate debt servicing pressure, improving resilience to near-term shocks.

Lean Operating Base

A four-person headcount implies a very low fixed-cost base and operational agility. This lean structure can extend runway, enable rapid product iteration or outsourcing, and limit burn per incremental revenue, supporting a more sustainable cost profile if growth continues.

Negative Factors

Severe Cash Burn

Deeply negative operating and free cash flow (~-£674k) indicate the business cannot self-fund operations. Persistent cash burn creates structural reliance on external financing, risks dilution or disrupted plans, and constrains investment in product or go-to-market execution.

Very Weak Profitability

Net and EBIT margins near -100% mean most revenue is consumed by losses, preventing internal reinvestment and leaving little room to absorb higher costs. Without structural margin improvement, the company cannot achieve sustainable profitability or attractive returns.

Balance Sheet Volatility

Historical swings including periods of negative equity signal capital instability and higher funding risk. This undermines lender and investor confidence, can increase borrowing costs or dilution, and raises the likelihood of refinancing challenges if losses persist.

Catenae Innovation Plc Business Overview & Revenue Model

Company Description

Catenai PLC, together with its subsidiaries, provides digital media and technology services. It offers operating systems comprising customizable mobile applications, intelligent dashboards, and a fully secure system to manage data uploads and transfers; and AI monitoring platform. The company also provides OnSite WorkID, a digital wallet that allows the service provider to prove their identity and status to a third party; OnSite TaskManager, a mobile management, inspection, and reporting solution; and OnSide, a centralized management tool for local government and community groups that offers scheduling of staff rotas, timesheet processing, attendee management, and reporting services. The company was formerly known as Catenae Innovation Plc and changed its name to Catenai PLC in March 2024. Catenai PLC was incorporated in 2003 and is based in London, the United Kingdom.

How the Company Makes Money

Catenae Innovation Plc Financial Statement Overview

Summary

Revenue rebounded strongly in 2024 (~38% growth), and the balance sheet improved with zero debt and positive equity. However, profitability remains extremely weak (net margin ~-97%, EBIT margin ~-100%) and cash flow is a major concern with deeply negative operating and free cash flow (~-674k), indicating ongoing cash burn and funding risk.

Income Statement

Revenue rebounded in 2024 (annual revenue growth of ~38%) after a sharp decline in 2023, showing some top-line momentum. However, profitability remains very weak: 2024 net margin was ~-97% and EBIT margin was ~-100%, meaning the company is still operating at a loss close to its revenue base. While losses have narrowed materially versus 2021–2023, the business has not yet demonstrated a sustainable path to positive earnings.

Balance Sheet

Leverage looks manageable in the latest year, with 2024 showing zero total debt and positive equity (~405k), which is a meaningful improvement versus 2022–2023 when equity was negative. That said, returns on equity remain negative in 2024 (reflecting ongoing losses), and the balance sheet has shown material swings over time (including periods of negative equity), which raises stability and funding-risk concerns if losses persist.

Cash Flow

Cash generation is a key weakness: operating cash flow and free cash flow were deeply negative in 2024 (both around -674k), indicating continued cash burn. While free cash flow improved versus prior years (large reported growth off a weaker base), cash flow still does not support the current cost structure, and ongoing negative operating cash flow suggests continued reliance on external funding or balance sheet resources.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	14.60K	131.50K	28.67K	117.02K	30.21K	14.95K
Gross Profit	0.00	131.50K	28.67K	110.42K	15.81K	14.95K
EBITDA	-336.70K	-131.18K	-261.32K	-545.53K	-923.22K	-744.13K
Net Income	-336.70K	-128.17K	-261.32K	-545.53K	-1.26M	-769.19K
Balance Sheet
Total Assets	1.27M	578.80K	18.48K	136.67K	657.15K	734.65K
Cash, Cash Equivalents and Short-Term Investments	94.09K	477.00	1.19K	61.92K	605.08K	714.04K
Total Debt	40.00K	0.00	131.00K	0.00	0.00	18.00K
Total Liabilities	253.69K	174.23K	451.63K	308.51K	275.22K	232.22K
Stockholders Equity	1.02M	404.57K	-433.16K	-171.84K	370.41K	502.43K
Cash Flow
Free Cash Flow	-648.86K	-673.91K	-191.74K	-493.19K	-993.14K	-833.74K
Operating Cash Flow	-648.87K	-673.91K	-191.74K	-493.19K	-993.14K	-833.74K
Investing Cash Flow	0.00	0.00	0.00	0.00	-217.50K	0.00
Financing Cash Flow	738.20K	673.20K	131.00K	15.27K	1.10M	1.52M

Catenae Innovation Plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FIN	67 Neutral	£8.56M	25.00	13.03%	―	9.45%	-86.94%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
RCGH	43 Neutral	£2.18M	―	―	―	―	―
CTAI	42 Neutral	£3.66M	-5.10	-42.53%	―	―	―
CLCO	41 Neutral	£1.06M	―	―	―	―	―

Catenae Innovation Plc Corporate Events

Catenai Launches New Website Highlighting AI Investment and Bitcoin Treasury Strategy

Catenai PLC has launched an updated corporate website showcasing its strategic shift towards AI-driven services and digital innovation. The new site highlights the company’s investment in Alludium, a business pioneering the no-code AI agent workforce category, and discloses the adoption of a Bitcoin treasury as part of Catenai’s broader capital management strategy, signalling a more progressive stance on both AI technology and digital assets that may influence how investors and stakeholders view its future direction.

The most recent analyst rating on (GB:CTAI) stock is a Sell with a £0.25 price target. To see the full list of analyst forecasts on Catenae Innovation Plc stock, see the GB:CTAI Stock Forecast page.

Catenai Extends Klarian Loan Repayment and Plans Investor Webinar

Catenai PLC has agreed a further extension with Klarian Ltd on the repayment of a £450,000 unsecured convertible loan note facility, with Klarian now due to repay £624,250, including related fees, by 31 March 2026. Depending on the timing of repayment, Catenai will receive an additional extension fee of up to £74,910, and the company is organising an investor webinar with Klarian’s CEO to introduce Klarian’s business and highlight its progress in 2025, signalling ongoing engagement with shareholders and the strategic importance of the Klarian relationship to Catenai’s investment portfolio.

The most recent analyst rating on (GB:CTAI) stock is a Hold with a £0.23 price target. To see the full list of analyst forecasts on Catenae Innovation Plc stock, see the GB:CTAI Stock Forecast page.

Catenai Publishes Investor Presentation and Highlights Alludium’s Collaborative AI Platform

Catenai PLC has confirmed that it has held its previously announced investor presentation, which is now available for viewing online. The update also highlights Alludium, a company developing an Agent Operating System that allows users to create, deploy and share custom AI agents through conversation, enabling multiple agents to collaborate, build institutional memory and automate workflows across organisations, addressing the growing demand for scalable, collaborative human-AI solutions.

Catenai PLC to Showcase AI Innovations in Upcoming Investor Presentation

Catenai PLC announced an upcoming Investor Presentation and Live Demonstration hosted by Interim CEO John Farthing, scheduled for December 18, 2025. The event, accessible through the Investor Meet Company platform, will feature Alludium’s innovative Agent Operating System, which facilitates human-AI collaboration by allowing AI agents to work together and with users to automate workflows and solve complex problems. This initiative highlights Catenai’s strategic focus on expanding its AI capabilities, potentially enhancing its market position and offering significant value to stakeholders.

Catenai’s Alludium AI Platform Debuts at Web Summit 2025

Catenai PLC announced an update on Alludium Ltd, its AI agent platform, after its debut at Web Summit 2025 in Lisbon. Alludium, designed to automate complex work and streamline operations, engaged with various stakeholders at the event, showcasing its potential to enhance operational efficiency. The platform allows for the creation, deployment, and collaboration of AI agents without coding, addressing the need for scalable AI solutions that support human-AI collaboration. The event marked a significant milestone for Alludium, transitioning from stealth mode to public engagement, with plans for further development and a broader release.

Catenai PLC’s Alludium Launches New AI Platform Website

Catenai PLC announced that Alludium Ltd has launched a new website to showcase its AI agent collaboration platform, unveiled at the Web Summit 2025 in Lisbon. This development reflects Catenai’s ongoing commitment to enhancing its technological offerings and could strengthen its market position by leveraging AI advancements.

Catenai PLC Completes Loan Repayment and Issues Warrants

Catenai PLC announced the full repayment of a £100,000 working capital loan on 31 October 2025, which was provided by a group of lenders including Sanderson Capital Partners Limited, a substantial shareholder. In line with the loan terms, 33,333,334 warrants over new ordinary shares have been issued to the lenders, exercisable at 0.3 pence per share until 31 October 2027, marking a significant step in the company’s financial management and stakeholder relations.

Catenai’s Alludium to Launch AI Collaboration Platform at Web Summit

Catenai PLC announced that its subsidiary, Alludium Ltd, will launch its AI Agent collaboration platform at the Web Summit in Lisbon. The platform allows users to create, deploy, and share custom AI agents without coding, facilitating collaboration and workflow automation across organizations. Alludium’s selection for the Web Summit’s ‘ALPHA’ Startup Programme highlights its potential in the rapidly growing AI market. The launch, operating on a waitlist model, marks a significant milestone for Alludium, with Catenai holding a 13% stake in the company.