Iconic Labs plc (ICON) AI Stock Analysis

• Market Cap: £276.29K
• Dividend Yield: N/A
• Average Volume (3M): 60.90K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.63
• Revenue Growth: N/A
• EPS Growth: -152.00%
• Country: UK
• Employees: 4
• Sector: Communication Services
• Sector Strength: 97
• Industry: Advertising Agencies
• EPS (TTM): -0.02
• Shares Outstanding: 13,884,027
• 10 Day Avg. Volume: 30,612
• 30 Day Avg. Volume: 60,904
• PEG Ratio: <0.01
• Price to Book (P/B): -0.07
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: 2.00p ▼(-20.00% Downside)

The score is held down primarily by severely distressed financial performance (near-zero revenue, persistent operating losses, negative equity, and ongoing cash burn). Technical indicators are only mildly supportive and do not offset the fundamental risk, while valuation is constrained by a negative P/E and no dividend yield data.

Positive Factors

Lean operating footprint

A four-person headcount is a structurally lean cost base that reduces fixed overhead and burn. Over a 2–6 month horizon this low operating leverage gives management flexibility to preserve runway, sharply cut cash needs, and implement turnaround moves without large payroll commitments.

Improving free cash flow trend

Reaching zero free cash flow in 2025 from a large outflow in 2024 signals a meaningful reduction in cash leakage. If sustained, this structural improvement lowers near-term refinancing pressure, lengthens runway and increases feasibility of executing remedial strategies or attracting new capital over the medium term.

Public listing provides financing optionality

Being listed on the London Stock Exchange gives ongoing access to public capital markets and higher visibility. Structurally this creates optionality for equity raises, strategic transactions or investor engagement, which is important given the company’s need for potential recapitalisation.

Negative Factors

Deep negative equity

Material negative equity is a persistent solvency concern: it reduces the company’s ability to absorb losses, constrains access to traditional lending, and elevates refinancing and going-concern risk. Recovery will likely require a substantive capital injection or asset restructuring to restore balance-sheet health.

Persistent operating cash burn

Sustained negative operating cash flow across multiple years is a structural liquidity drain that erodes reserves and forces dependence on external financing. Without durable revenue recovery, ongoing cash burn will necessitate dilution, debt replacement, or severe operational contraction to avoid insolvency risk.

Revenue collapse and ongoing losses

A collapse of core revenue alongside persistent EBIT losses undermines the business model’s viability. Structurally, lack of scalable sales reduces margin recovery potential and makes any turnaround contingent on successfully rebuilding revenue streams or launching new, sustainable revenue sources.

Iconic Labs plc Business Overview & Revenue Model

Company Description

Iconic Labs Plc engages in media and technology business, focuses providing online marketing, and content and technology driven products. It also engages in digital and social media publishing activities. The company offers advisory services to clients on their businesses; and delivers campaigns, as well as provides creative services to its clients. Its activities include monthly insights, content creation and distribution, post campaign analysis, and combining with online media brands. The company was formerly known as WideCells Group PLC and changed its name to Iconic Labs Plc in July 2019. Iconic Labs Plc was founded in 2012 and is based in London, the United Kingdom.

How the Company Makes Money

Iconic Labs plc generates revenue through a multi-faceted approach that includes advertising and content creation. The company partners with brands to develop tailored digital marketing campaigns that leverage its expertise in content production and distribution. By utilizing advanced data analytics, Iconic Labs optimizes campaign performance and audience engagement, ensuring value for its clients. Additionally, the company explores strategic partnerships and collaborations to enhance its service offerings and expand its market reach. Revenue is primarily driven by the fees charged for these services, as well as potential revenue-sharing agreements with partners and clients.

Iconic Labs plc Financial Statement Overview

Summary

Distressed fundamentals: revenue has effectively collapsed to near zero (2023–2025), EBIT is consistently loss-making, and net income volatility appears driven by non-recurring items. The balance sheet is the largest risk with deeply negative equity and meaningful debt versus a very small asset base, while operating cash flow has been negative for multiple years—indicating elevated liquidity and funding/going-concern risk.

Income Statement

Operating performance is weak and volatile. Revenue effectively collapsed to zero from 2023–2025 (after £509k in 2021 and £26.8k in 2022), and EBIT remains consistently loss-making (e.g., -£0.56m in 2025, -£1.09m in 2024, -£0.76m in 2022, -£3.10m in 2021). Net income is highly erratic, swinging from large losses (e.g., -£7.70m in 2021) to one-off profitability (2023 and 2024) and back to a loss in 2025 (-£0.63m), which reduces confidence in earnings quality and sustainability.

Balance Sheet

Balance sheet risk is very high. Equity is deeply negative across all periods (e.g., -£4.0m in 2025; -£2.7m in 2024; -£3.6m in 2023), while debt is sizable and rising overall (about £3.1m in 2025 vs. £1.9m in 2023). Total assets are very low relative to obligations (e.g., £95k in 2025), indicating a thin asset base and limited financial flexibility; negative equity also implies elevated refinancing and going-concern risk.

Cash Flow

Cash generation is consistently negative in recent years, pressuring liquidity. Operating cash flow is negative in 2022–2025 (from -£51k in 2022 to -£920k in 2023, -£803k in 2024, and -£448k in 2025). Free cash flow is also negative in 2022–2024, and 2025 shows free cash flow at 0 (an improvement versus 2024’s -£803k) but still not a clear pattern of sustained cash generation. The combination of cash burn and a highly leveraged/negative-equity balance sheet increases funding risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	26.82K	509.17K
Gross Profit	-30.00	0.00	0.00	0.00	26.24K	509.10K
EBITDA	-615.12K	-555.12K	-246.05K	4.77M	-759.60K	-3.10M
Net Income	-628.23K	-628.23K	418.95K	4.77M	-762.00K	-7.70M
Balance Sheet
Total Assets	95.04K	95.04K	139.34K	50.24K	6.00	154.06K
Cash, Cash Equivalents and Short-Term Investments	35.74K	35.74K	129.31K	50.24K	5.00	50.93K
Total Debt	3.08M	3.08M	2.65M	1.94M	2.42M	2.42M
Total Liabilities	4.06M	4.06M	2.86M	3.69M	8.94M	8.33M
Stockholders Equity	-3.96M	-3.96M	-2.72M	-3.64M	-8.94M	-8.18M
Cash Flow
Free Cash Flow	-296.52K	0.00	-802.71K	-919.76K	-50.92K	1.15M
Operating Cash Flow	-448.07K	-448.07K	-802.71K	-919.76K	-50.92K	1.15M
Investing Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	354.50K	354.50K	881.78K	970.00K	0.00	-1.28M

Iconic Labs plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SYS1	69 Neutral	£29.44M	10.40	21.43%	2.29%	3.32%	-10.58%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
MDZ	57 Neutral	£1.44M	―	-3.05%	―	55.13%	―
DNM	57 Neutral	£4.20M	10.00	4.93%	―	―	―
TMG	49 Neutral	£17.67M	-6.72	-3.81%	―	-25.20%	78.55%
ICON	42 Neutral	£276.29K	-0.39	―	―	―	-152.00%
MIRI	40 Neutral	£1.28M	-0.02	-114.93%	―	―	―

Iconic Labs plc Corporate Events

Iconic Labs Wins Shareholder Backing for All AGM Resolutions

Iconic Labs plc reported that shareholders approved all seven resolutions put to its Annual General Meeting held on 31 December 2025, including the adoption of accounts for the year ended 30 June 2025, the reappointment of RPG Chartered Accountants as auditors, and the re-election of director Bela Lendvai-Lintner. Investors also backed new Articles of Association and granted the board authority to allot shares and issue equity securities, reinforcing management’s flexibility over capital structure and governance as the company pursues its strategic objectives.

The most recent analyst rating on (GB:ICON) stock is a Hold with a £2.50 price target. To see the full list of analyst forecasts on Iconic Labs plc stock, see the GB:ICON Stock Forecast page.

Iconic Labs PLC Announces Date for Annual General Meeting

Iconic Labs PLC, a company listed on the London Stock Exchange under the ticker ICON, has announced the scheduling of its Annual General Meeting (AGM) for December 31, 2025. The meeting will take place at the offices of AMBA Company Secretarial Services Ltd in London. This announcement is significant for shareholders as it provides them with the opportunity to participate in the company’s governance and decision-making processes.