Iconic Labs plc (ICON) AI Stock Analysis

• Market Cap: £295.50K
• Dividend Yield: N/A
• Average Volume (3M): 60.90K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.34
• 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: 15,153,868
• 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: 41 Neutral
• Price Target: 2.00 p ▼(-20.00% Downside)
• Action: Upgraded Date: 03/24/26
• Date: Action: Upgraded 03/24/26

The score is driven primarily by very weak financial fundamentals (near-zero revenue, negative operating earnings, negative equity, and negative operating cash flow), reinforced by bearish technicals (price below key moving averages and negative MACD). Valuation provides limited support due to a negative P/E and no dividend yield data.

Positive Factors

Capital structure flexibility

Investor approval to amend articles and grant the board power to allot shares and issue equity provides durable financing optionality. This structural flexibility lets management raise capital, use equity for restructuring or partnerships, and manage solvency risk over the medium term.

Debt converted to equity

Conversion of convertible notes into ordinary shares reduces contractual debt obligations and interest pressure, improving balance sheet mechanics. Even if small, this demonstrates willingness to shift liabilities to equity, which can materially extend runway and reduce insolvency odds.

Lean, asset-light model

A four-person team in an advertising-agency industry implies a low fixed-cost base and an asset-light operating model. That structural profile supports operational flexibility, faster scaling when revenue returns, and lower cash burn relative to heavier-capex peers over the coming months.

Negative Factors

Collapsed revenue

Sustained near-zero revenue over multiple years undermines the company's ability to generate recurring cash and validate its commercial model. Without restored top-line demand, investments and client retention are at risk, leaving long-term viability dependent on external funding or strategic pivots.

Negative equity / stressed balance sheet

Persistent negative equity and rising debt indicate accumulated deficits and meaningful solvency risk. This structural weakness limits strategic options, increases refinancing risk, and means the company will likely need recurrent external capital or restructuring to sustain operations.

Weak cash generation

Multi-year negative operating cash flow and deteriorating free cash flow show the business cannot self-fund operations or reinvest. This durable cash-generation shortfall increases dependency on new equity or debt, constrains growth initiatives, and heightens execution risk over the medium term.

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

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Iconic Labs plc Financial Statement Overview

Summary

Financial health is highly fragile: revenue has effectively dropped to ~zero in recent years, EBIT has been persistently negative, equity is negative across all periods (solvency risk), and operating cash flow is negative for most years—indicating the business is not self-funding despite occasional net income positives.

Income Statement

Operating performance is weak and inconsistent. Revenue has effectively collapsed to zero in the last three annual reports (2023–2025), following a sharp decline from 2021–2022. Profitability is also volatile: 2023 and 2024 show positive net income, but 2025 returned to a sizable loss, and EBIT has been persistently negative across all periods—signaling ongoing underlying operating losses despite occasional bottom-line gains.

Balance Sheet

The balance sheet is highly stressed. Equity is negative in every year shown, indicating accumulated deficits and limited financial flexibility. Debt remains high (and rising in the most recent year), while total assets are very small relative to debt, creating meaningful solvency risk and increasing reliance on external funding or restructuring to sustain operations.

Cash Flow

Cash generation is poor and has deteriorated recently. Operating cash flow is negative in 2022–2025 (after a positive 2021), suggesting the business has not been self-funding. Free cash flow is negative in most years and drops to zero in 2025 (with a sharp negative growth rate), implying reduced capacity to reinvest or cover obligations without additional capital.

Breakdown	Jun 2024	Jun 2023	Jun 2023	Jun 2022	Jun 2020
Income Statement
Total Revenue	0.00	0.00	0.00	26.82K	509.17K
Gross Profit	0.00	0.00	0.00	26.24K	509.10K
EBITDA	-555.12K	-246.05K	4.77M	-759.60K	-3.10M
Net Income	-628.23K	418.95K	4.77M	-762.00K	-7.70M
Balance Sheet
Total Assets	95.04K	139.34K	50.24K	6.00	154.06K
Cash, Cash Equivalents and Short-Term Investments	35.74K	129.31K	50.24K	5.00	50.93K
Total Debt	3.08M	2.65M	1.94M	2.42M	2.42M
Total Liabilities	4.06M	2.86M	3.69M	8.94M	8.33M
Stockholders Equity	-3.96M	-2.72M	-3.64M	-8.94M	-8.18M
Cash Flow
Free Cash Flow	0.00	-802.71K	-919.76K	-50.92K	1.15M
Operating Cash Flow	-448.07K	-802.71K	-919.76K	-50.92K	1.15M
Investing Cash Flow	0.00	0.00	0.00	0.00	0.00
Financing Cash Flow	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	70 Outperform	£34.89M	67.27	19.89%	2.29%	3.32%	-10.58%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
MDZ	57 Neutral	£1.90M	16.44	-3.05%	―	55.13%	―
DNM	57 Neutral	£4.05M	-2.52	4.93%	―	―	―
TMG	49 Neutral	£16.31M	-1.51	-3.41%	―	-25.20%	78.55%
ICON	41 Neutral	£295.50K	-0.45	16.45%	―	―	-152.00%
MIRI	40 Neutral	£938.98K	-0.02	-114.93%	―	―	―

Iconic Labs plc Corporate Events

Iconic Labs Confirms Total Voting Rights at 15.15 Million Shares

Iconic Labs plc has confirmed that, as of 27 February 2026, its issued share capital comprises 15,153,868 ordinary shares of £0.0001 each, with each share carrying one voting right and no shares held in treasury. The company stated that this total should be used by investors as the reference figure for calculating and disclosing any holdings or changes in holdings under UK transparency rules, clarifying the current voting base for shareholders and market participants.

The confirmation of 15,153,868 voting rights provides an updated denominator for regulatory threshold calculations, helping investors determine when they must notify the market of significant positions. By formally disclosing its total voting rights, Iconic Labs supports compliance with FCA requirements and enhances transparency for stakeholders monitoring ownership and control levels in the company.

The most recent analyst rating on (GB:ICON) stock is a Hold with a £2.00 price target. To see the full list of analyst forecasts on Iconic Labs plc stock, see the GB:ICON Stock Forecast page.

Iconic Labs Converts Notes Into New Equity, Expands Share Capital

Iconic Labs PLC has converted 20 of its Convertible Notes into 1,269,841 new ordinary shares at a price of £0.01575 per share, representing £20,000 in principal, with the new stock expected to begin trading on the London Stock Exchange’s Main Market around 26 February 2026. The newly issued shares will rank pari passu with existing ordinary shares, increasing the company’s total issued share capital to 15,153,868 shares, a change that alters the overall voting rights base and may prompt shareholders to reassess and, where required, disclose changes in their holdings under UK transparency regulations.

The most recent analyst rating on (GB:ICON) stock is a Hold with a £2.00 price target. To see the full list of analyst forecasts on Iconic Labs plc stock, see the GB:ICON Stock Forecast page.

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.