MyCelx Technologies (MYX) AI Stock Analysis

• Market Cap: £10.84M
• Dividend Yield: N/A
• Average Volume (3M): 39.28K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.50
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 18
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Pollution & Treatment Controls
• EPS (TTM): -0.06
• Shares Outstanding: 24,363,813
• 10 Day Avg. Volume: 26,840
• 30 Day Avg. Volume: 39,282
• PEG Ratio: 0.16
• Price to Book (P/B): 2.03
• Price to Sales (P/S): 2.18
• P/FCF Ratio: -4.87
• 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): -0.06
• Revenue Forecast (FY): £11.10M

• Rating: 46 Neutral
• Price Target: 38.00 p ▲(40.74% Upside)
• Action: Reiterated Date: 01/22/26
• Date: Action: Reiterated 01/22/26

The score is primarily constrained by weak financial performance (ongoing losses, contracting 2024 revenue, and persistent negative operating/free cash flow). Technicals provide some support due to strong price trend above moving averages and positive MACD, but the extremely overbought RSI tempers that benefit. Valuation is also a headwind given the negative P/E and lack of dividend yield data.

MyCelx Technologies Business Overview & Revenue Model

Company Description

MYCELX Technologies Corporation, a clean water technology company, provides water treatment solutions to the oil and gas, power, marine, and heavy manufacturing sectors in the Middle East, the United States, Nigeria, Australia and internationally. The company offers oil removal solutions for upstream produced water to oil companies; and hydrocarbons removal services from downstream process wastewater that are used in petrochemical facilities and refineries. It also sells or leases its equipment; and sells consumable filtration media. MYCELX Technologies Corporation was incorporated in 1994 and is headquartered in Norcross, Georgia.

How the Company Makes Money

MyCelx makes money primarily by selling its proprietary filtration media and treatment solutions used to separate and remove hydrocarbons and other contaminants from water and industrial fluids. Key revenue streams include: (1) product sales of its consumable filtration media (which is replaced after use, creating repeat purchase potential when systems remain in operation); (2) sales of engineered treatment units/systems that use MyCelx media (equipment revenue); and (3) services and field support associated with installing, operating, and maintaining treatment deployments where applicable. Revenue is tied to customer adoption and ongoing operation of treatment systems, because active deployments drive recurring consumption of replacement media. Information on specific, current major customer partnerships, contract structures, and the split of revenue by stream is not available in the provided context; null.

MyCelx Technologies Financial Statement Overview

Summary

Overall fundamentals are weak: the company has persistent net losses with sharply negative 2024 margins (net margin ~-56%, EBIT margin ~-54%) and a steep revenue decline (~-45% in 2024). Cash flow is consistently negative (2024 operating cash flow ~-2.15M; free cash flow ~-2.20M), indicating ongoing cash burn. The main offset is a moderately levered balance sheet (debt-to-equity ~0.24 in 2024), though equity has declined materially over time.

Income Statement

Profitability remains weak, with net losses in every year provided and deeply negative margins in 2024 (net margin about -56% and EBIT margin about -54%). Revenue has been volatile and recently deteriorated sharply, falling ~45% in 2024 after modest growth in 2022–2023. Gross margin also compressed materially in 2024 (to ~27% from ~36% in 2023), indicating weaker pricing, mix, or cost pressure; the main positive is the improvement versus the extreme 2020 loss year, but the overall trajectory is still loss-making with declining scale.

Balance Sheet

Leverage appears manageable with debt-to-equity staying relatively low (about 0.24 in 2024, and lower in prior years), which reduces near-term balance sheet stress. However, equity has declined meaningfully over time (from ~13.8M in 2020 to ~5.3M in 2024), consistent with ongoing losses, and returns on equity are sharply negative (around -52% in 2023–2024), highlighting continued value erosion despite a moderate debt load.

Cash Flow

Cash generation is a key concern: operating cash flow and free cash flow are negative across all years shown, including 2024 (operating cash flow about -2.15M and free cash flow about -2.20M). While free cash flow loss narrowed in 2024 versus 2023 (positive free cash flow growth), the business still burns cash, implying ongoing reliance on external funding or balance sheet resources to sustain operations until profitability improves.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.07M	4.90M	10.91M	10.03M	8.48M	7.10M
Gross Profit	1.05M	1.34M	3.89M	4.44M	3.27M	1.59M
EBITDA	-4.18M	-2.23M	-2.46M	-2.48M	19.00K	-4.22M
Net Income	-3.28M	-2.72M	-3.71M	-3.99M	-1.43M	-6.09M
Balance Sheet
Total Assets	10.22M	10.05M	10.39M	13.62M	15.66M	19.13M
Cash, Cash Equivalents and Short-Term Investments	643.00K	1.26M	383.00K	1.65M	3.13M	3.29M
Total Debt	1.07M	1.26M	889.00K	1.22M	1.47M	3.09M
Total Liabilities	6.85M	4.79M	3.23M	2.79M	3.04M	5.34M
Stockholders Equity	3.38M	5.26M	7.16M	10.83M	12.62M	13.79M
Cash Flow
Free Cash Flow	-2.22M	-2.20M	-1.21M	-3.53M	-3.80M	-1.66M
Operating Cash Flow	-2.21M	-2.15M	-1.11M	-2.69M	-3.43M	-1.50M
Investing Cash Flow	-14.00K	2.24M	-181.00K	-842.00K	5.08M	-159.00K
Financing Cash Flow	792.00K	792.00K	0.00	2.04M	-2.24M	1.30M

MyCelx Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WATR	78 Outperform	£51.34M	6.47	6.92%	―	7.16%	-11.00%
PRV	66 Neutral	£331.87M	20.59	11.21%	0.77%	8.66%	9.47%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
DIA	63 Neutral	£124.66M	-3.44	15.77%	―	-5.73%	―
FLO	51 Neutral	£37.28M	-70.33	-64.09%	―	-0.25%	-84.33%
MYX	46 Neutral	£10.84M	-1.16	―	―	―	―
ITM	44 Neutral	£401.29M	-8.61	-18.47%	―	57.73%	-67.12%

MyCelx Technologies Corporate Events

MYCELX Chair Increases Stake with Small Insider Share Purchases

MYCELX Technologies has disclosed that its non-executive chairman, Gareth Kaminski-Cook, purchased a total of 4,450 common shares in two on-market transactions on 11 and 12 February 2026 at prices of £0.47 and £0.46 respectively. The trades, conducted on AIM, increase his holding to 0.02% of the company’s issued share capital, a modest but visible show of insider confidence that may be closely watched by investors monitoring governance and alignment of board and shareholder interests.

The most recent analyst rating on (GB:MYX) stock is a Hold with a £39.00 price target. To see the full list of analyst forecasts on MyCelx Technologies stock, see the GB:MYX Stock Forecast page.

MYCELX Surges to Profitability in 2025 and Sharpens Focus on Core Water Markets

MYCELX Technologies reported that it achieved profitability in 2025, with expected full-year revenue of about $11.7 million, up 140% year-on-year, and EBITDA and profit before tax significantly ahead of market expectations, reflecting strict cost control, operating leverage and a shift toward higher-margin revenue. The company enters 2026 with a stronger earnings profile, streamlined organisation and growing commercial momentum in its core markets, while refining its strategic focus on produced water, PFAS remediation and water services, strengthening its executive team, and planning new engineering and business development hires to accelerate growth in key regions such as the Permian Basin and the Middle East, with implications for improved cash generation and long-term value creation for stakeholders.

The most recent analyst rating on (GB:MYX) stock is a Sell with a £26.00 price target. To see the full list of analyst forecasts on MyCelx Technologies stock, see the GB:MYX Stock Forecast page.