Gelion PLC (GELN) AI Stock Analysis

• Market Cap: £43.59M
• Dividend Yield: N/A
• Average Volume (3M): 395.75K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.23
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 50
• Sector: Industrials
• Sector Strength: 72
• Industry: Electrical Equipment & Parts
• EPS (TTM): -0.01
• Shares Outstanding: 229,421,460
• 10 Day Avg. Volume: 121,404
• 30 Day Avg. Volume: 395,753
• PEG Ratio: 0.17
• Price to Book (P/B): 3.53
• Price to Sales (P/S): 38.63
• P/FCF Ratio: -7.13
• 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: 46 Neutral
• Price Target: 20.00p ▲(8.11% Upside)

The score is held down primarily by weak financial performance (persistent losses and cash burn) and bearish technicals (below key moving averages with negative momentum). The earnings call provides a partial offset via improved cost discipline, first revenue, a growing pipeline, and strengthened funding, but valuation remains constrained by losses and no dividend.

Positive Factors

Conservative balance sheet / low leverage

Extremely low leverage materially reduces near-term solvency risk and gives management flexibility to fund R&D and commercialization without high interest burdens. That structural balance-sheet strength supports multi‑quarter execution in capital‑intensive battery development.

Strengthened liquidity from capital raise

A successful, oversubscribed GBP 10.5m raise materially extends runway and lowers immediate refinancing risk, enabling continued cell/system development, pilot deployments and sales efforts over the coming quarters while management works toward scale and revenue maturation.

Commercial partnerships and initial commercial traction

Partnerships with established industry players and first reported revenue signal market validation and provide channel access. A £17.5m pipeline implies multiple potential project conversions, supporting a durable path to scale if conversion and margins hold over the next 2–6 months.

Negative Factors

Persistent negative cash generation

Sustained negative operating and free cash flow requires ongoing external funding and constrains reinvestment. Even with recent improvement, ongoing cash burn increases execution risk, making commercialization and scaling dependent on successful capital raises or faster revenue conversion.

Deep and multi-year losses, weak profitability

Very large negative margins and severely negative ROE indicate current business economics are not covering operating costs. Prolonged losses erode equity, limit reinvestment capacity and require sustained structural improvement in gross margins or scale to reach viable, durable profitability.

Long sales and integration cycles

Extended 9–20 month sales cycles delay revenue recognition and customer adoption, increasing working-capital needs and stretching the time to scale. This structural timing mismatch raises execution risk and makes short‑term funding durability and conversion of the pipeline critical.

Gelion PLC Business Overview & Revenue Model

Company Description

Gelion plc engages in the research and development, design, manufacture, and sale of battery systems in the United Kingdom and internationally. The company offers zinc-bromide batteries under the Endure name. Its products are used in various applications, which include industrial light towers, solar and wind farms, desalination plants, mining pumps, passenger and heavy vehicles, electric buses and trains, and irrigation systems and other agricultural applications, as well as used by commercial and industrial enterprises and grid operators. The company was incorporated in 2015 and is headquartered in Eveleigh, Australia.

How the Company Makes Money

Gelion PLC Financial Statement Overview

Summary

Financials remain weak: revenue is small and volatile with deeply negative profitability and multi-year losses, and cash flow is consistently negative with ongoing cash burn. The main positive is very low leverage (minimal debt), which reduces near-term solvency risk, but declining equity and materially negative returns reflect continued value erosion.

Income Statement

Revenue is small and volatile, with FY2025 revenue down ~61% versus FY2024 (which had no revenue). Profitability remains very weak: FY2025 gross margin is ~26%, but operating and net results are deeply negative (net margin around -656%), reflecting a cost base far above current sales. Losses have persisted for multiple years with no clear inflection to sustained profitability yet.

Balance Sheet

The balance sheet is conservatively levered, with very low debt relative to equity (FY2025 debt-to-equity ~0.003), which reduces financial risk and provides flexibility. However, equity has trended down from prior years and returns on equity are materially negative (FY2025 roughly -60%), indicating ongoing value erosion driven by recurring losses.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are consistently negative across the period, including FY2025 operating cash flow of about -£4.5m and free cash flow of about -£4.9m. While the cash burn improved versus FY2023 (less negative free cash flow), FY2025 free cash flow deteriorated versus FY2024 and the business remains dependent on funding until it can scale revenue and narrow losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.29M	912.00K	0.00	0.00	1.75M	351.49K
Gross Profit	-352.00K	241.00K	-700.00K	-463.00K	-308.00K	351.49K
EBITDA	-5.47M	-5.38M	-8.86M	-8.99M	-10.49M	-1.53M
Net Income	-5.98M	-5.98M	-7.95M	-7.41M	-13.81M	-1.80M
Balance Sheet
Total Assets	11.36M	11.36M	13.59M	13.69M	20.61M	4.03M
Cash, Cash Equivalents and Short-Term Investments	2.66M	2.66M	3.79M	7.27M	17.04M	1.91M
Total Debt	27.00K	27.00K	8.00K	26.00K	56.00K	122.02K
Total Liabilities	1.39M	1.39M	1.63M	1.08M	12.08M	442.18K
Stockholders Equity	9.97M	9.97M	11.97M	12.60M	19.72M	3.59M
Cash Flow
Free Cash Flow	-4.57M	-4.94M	-5.96M	-10.47M	-5.31M	-1.66M
Operating Cash Flow	-4.41M	-4.46M	-4.53M	-6.03M	-4.53M	-1.27M
Investing Cash Flow	-481.00K	-435.00K	-2.63M	-2.09M	-1.80M	-379.33K
Financing Cash Flow	3.95M	3.95M	3.71M	-28.00K	20.55M	-125.88K

Gelion PLC Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VLX	75 Outperform	£810.84M	18.62	15.54%	1.11%	8.20%	25.85%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
XPP	58 Neutral	£347.34M	-21.90	-8.12%	―	-18.43%	24.86%
CWR	56 Neutral	£579.07M	-16.30	-23.26%	―	12.58%	12.39%
AFC	51 Neutral	£132.56M	-5.11	-86.37%	―	732.03%	12.60%
GELN	46 Neutral	£43.59M	-4.66	―	―	―	―
IKA	44 Neutral	£56.06M	-7.31	-31.45%	―	265.67%	-16.50%

Gelion PLC Corporate Events

Gelion Reports Limited Share Issuance Under Existing Option Plan

Gelion plc has reported its latest block admission return for its existing share option plan for the period from 26 July 2025 to 26 January 2026. Over the period, 69,673 ordinary shares of 0.1p each were issued under the plan, leaving 7,803,267 ordinary shares still available but not yet issued out of the 8,100,000 originally admitted, indicating only a modest level of option exercises and limited dilution for existing shareholders during the half-year.

The most recent analyst rating on (GB:GELN) stock is a Hold with a £19.50 price target. To see the full list of analyst forecasts on Gelion PLC stock, see the GB:GELN Stock Forecast page.

Gelion Taps Lithium-Ion Pioneer Rachid Yazami to Drive Sulfur Battery Push

Gelion has appointed world-renowned battery scientist Professor Rachid Yazami as a Technology Advisor to support its push into sulfur battery innovation, particularly the development of a sulfur cathode designed as a drop-in alternative to standard lithium-ion cathode materials in LFP and NMC cells. The appointment brings to Gelion the expertise of the pioneer behind the lithium-graphite anode now standard in commercial lithium-ion batteries, reinforcing its plans to pair its sulfur cathodes with conventional graphitic anodes and strengthening its technological leadership in the emerging Li-S segment, which is touted for cost-effective, high-energy-density and safe energy storage and could enhance the company’s position in the rapidly evolving energy storage market.

The most recent analyst rating on (GB:GELN) stock is a Hold with a £21.50 price target. To see the full list of analyst forecasts on Gelion PLC stock, see the GB:GELN Stock Forecast page.

Gelion Updates Total Voting Rights After December Option Exercises

Gelion PLC has confirmed that, following the exercise of employee share options in December 2025, its issued share capital now comprises 229,421,456 ordinary shares of 0.1 pence each, all carrying equal voting rights and with no shares held in treasury. The updated share count establishes the new total voting rights in the company, providing the reference figure shareholders must use to assess whether they are required to disclose holdings or changes in their interests under the UK Disclosure Guidance and Transparency Rules.

Gelion CFO Increases Stake with Purchase of 50,000 Shares

Gelion plc disclosed that its chief financial officer, Amit Gupta, purchased 50,000 ordinary shares in the company on 23 December 2025 at 19 pence per share on the London Stock Exchange’s AIM market. Following this transaction, Gupta’s holding increased to 193,810 ordinary shares, representing approximately 0.084% of the company’s total voting rights, signalling increased insider ownership and potential confidence in Gelion’s prospects.

Gelion Secures Shareholder Backing as All AGM Resolutions Pass

Gelion announced that all resolutions put to shareholders at its latest Annual General Meeting were duly passed, confirming continued investor backing for the company’s strategic direction and governance. The outcome reinforces management’s mandate to advance its portfolio of sulfur-based and zinc hybrid battery technologies and commercial energy storage projects, supporting its positioning as a specialist player in sustainable energy storage solutions.

Gelion Rebrands UK Subsidiary to Strengthen Global Presence

Gelion PLC has announced the rebranding of its wholly-owned UK subsidiary, OXLiD Ltd, to Gelion Europe Ltd. This change marks the completion of the post-acquisition integration process and aims to consolidate the Gelion brand for global partners and stakeholders. The rebranding also signifies the successful incorporation of lithium-sulfur technology into Gelion’s energy storage portfolio and represents the company’s expanding European operations. The change is expected to enhance engagement with supply chains and commercial partners, reflecting Gelion’s commitment to advancing sulfur battery technologies globally.

Gelion PLC Awards Share Options to CFO Amit Gupta

Gelion PLC has announced the grant of 284,015 share options to Amit Gupta, the Chief Financial Officer, as part of the company’s Share Option Plan. This move is in recognition of his contributions during the fiscal year 2025 and aligns with the company’s strategy to incentivize key executives. The options, which have a nominal exercise price, are set to vest in three equal tranches by August 2028, contingent upon continued employment. This grant reflects Gelion’s commitment to rewarding its leadership and could potentially impact the company’s market positioning by retaining key talent.

Gelion Achieves Key Milestone in Sulfur Battery Technology

Gelion PLC has achieved a significant technical milestone by reaching the 4Q areal capacity in the development of its sulfur battery technology. This breakthrough demonstrates the potential of Gelion’s proprietary cathode active material (CAM) to produce high-energy-density, low-cost sulfur-based batteries suitable for various applications, including e-aviation and electric mobility. The achievement marks a critical step towards scaling sulfur-based technology for commercial-grade battery systems, enhancing Gelion’s competitiveness against conventional lithium-ion technology. The milestone supports Gelion’s energy-density and cost objectives, strengthening its roadmap for future high-energy-density battery targets.

Gelion PLC Announces Upcoming Annual General Meeting

Gelion PLC has announced its Annual General Meeting (AGM) scheduled for 22 December 2025, which will be held at the company’s registered office in London. Shareholders can attend the meeting remotely by registering in advance. This announcement highlights Gelion’s ongoing commitment to engaging with its stakeholders and maintaining transparency in its operations, which is crucial for its positioning in the competitive energy storage industry.

Gelion PLC Achieves Breakthrough Year with Strategic Partnerships and Technological Advances

Gelion PLC has reported its final results for the year ending June 30, 2025, marking a significant transition into a commercial revenue phase with a 36% increase in total income to £2.7 million. The company has made substantial progress in financial discipline and operational efficiency, reducing its adjusted EBITDA loss by 15% and narrowing its operating loss by 25.7%. Strategic collaborations with institutions like the Max Planck Institute and TDK Corporation have enhanced Gelion’s technological capabilities, particularly in sulfur and lithium recycling technologies. The company has achieved breakthroughs in its Sodium-Sulfur and Lithium-Sulfur battery technologies, delivering industry-leading performance. Post-period, Gelion has strengthened its balance sheet with a £10.5 million capital raise and signed a full collaboration agreement with TDK to develop commercial pouch cell prototypes, positioning itself for future growth and innovation in the energy storage sector.

Gelion PLC to Announce Full-Year Results and Host Investor Presentation

Gelion PLC announced that it will release its full-year financial results for the year ending June 30, 2025, on November 27, 2025. The announcement will be accompanied by an investor presentation hosted by the company’s CEO, CFO, and CTO. This event highlights Gelion’s commitment to transparency and engagement with stakeholders, potentially impacting its market positioning positively by showcasing its financial health and strategic direction.

Gelion PLC Expands Share Capital Following General Meeting

Gelion PLC announced the successful passing of all proposed resolutions at its recent General Meeting, leading to the issuance of 1,150,000 new shares subscribed by directors and PDMRs at 20 pence per share. The new shares will be admitted to trading on AIM, increasing the company’s total voting rights to 229,351,783, which may impact shareholder notifications under FCA rules.