Nanoco Group PLC (GB:NANO)
LSE:NANO
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Nanoco Group plc
(LSE:NANO)
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Rating:43Neutral
Price Target:
4.50 p
▼(-44.58% Downside)
Action:ReiteratedDate:03/24/26
The score is held down primarily by weak financial health (loss-making operations, negative equity, and strained operating cash flow) and a bearish technical trend (below major moving averages). The latest earnings call provides a partial offset via reduced cash burn, a stable cash position, and progress on development agreements, while valuation signals are limited due to negative earnings and no dividend.
Positive Factors
High gross margins
A 91.8% gross margin indicates durable production-level advantage from proprietary nanomaterials. High gross margins provide structural room to invest in R&D and absorb SG&A as volumes scale, supporting long-term operating leverage if commercial adoption of quantum dots increases.
Negative Factors
Negative equity / weak balance sheet
Negative shareholders' equity signals structural solvency risk and potential constraints accessing traditional financing. Over the medium term this can force dilutive equity raises, restrictive covenants or asset sales, limiting strategic flexibility and ability to fund scale-up without shareholder dilution.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
A 91.8% gross margin indicates durable production-level advantage from proprietary nanomaterials. High gross margins provide structural room to invest in R&D and absorb SG&A as volumes scale, supporting long-term operating leverage if commercial adoption of quantum dots increases.
Read all positive factors
Nanoco Group plc (NANO) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£8.90M
Dividend YieldN/A
Average Volume (3M)404.43K
Price to Earnings (P/E)―
Beta (1Y)0.18
Revenue Growth-3.25%
EPS Growth-172.09%
CountryUK
Employees47
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)N/A
Shares Outstanding195,543,820
10 Day Avg. Volume424,468
30 Day Avg. Volume404,433
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)-1.34
Price to Sales (P/S)3.44
P/FCF Ratio-5.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.02
Revenue Forecast (FY)£11.30M
Nanoco Group plc Business Overview & Revenue Model
Company Description
Nanoco Group plc, together with its subsidiaries, engages in the research, development, manufacture, and licensing of novel nanomaterials for use in various commercial applications. The company offers CFQD quantum dots which are fluorescent semico...
How the Company Makes Money
Nanoco makes money primarily by commercializing its proprietary nanomaterial technology through a combination of: (1) Product/material sales: revenue from supplying semiconductor nanocrystals (quantum dots) and other nanomaterials to customers for...
Nanoco Group plc Earnings Call Summary
Earnings Call Date:Nov 18, 2025
(Q4-2025)
| % Change Since: |
Next Earnings Date:Oct 20, 2026
Earnings Call Sentiment Neutral
The earnings call reflects significant strategic advancements and operational improvements, particularly in the image sensor market, alongside financial stability. However, challenges such as revenue decline, strategic review delays, and a loss after tax offset these achievements. The mixed performance in market segments like flat panel displays also tempers the overall outlook.Positive Updates
Reduction in Cash Burn
Nanoco reduced its cash burn by approximately 30%, extending its cash runway and allowing reinvestment in business development.
Negative Updates
Revenue Decline
Revenue for FY '25 was GBP 7.6 million, down GBP 0.3 million from the previous year, due to the cancellation of a JDA with a European customer.
Read all updates
Q4-2025 Updates
Positive
Negative
Reduction in Cash Burn
Nanoco reduced its cash burn by approximately 30%, extending its cash runway and allowing reinvestment in business development.
Read all positive updates
Company Guidance
In the recent investor call, Nanoco Group plc provided comprehensive guidance for Fiscal Year 2025, highlighting significant strategic and operational advancements. The company reported a 30% reduction in cash burn, extending its cash runway to reinvest in business development. The strategic focus remains on the image sensor market, identified as a top priority due to favorable market trends and Nanoco's strong competitive position. Key achievements include signing a second joint development agreement and extending an existing one for three years. Financially, Nanoco reported revenue of GBP 7.6 million, with an adjusted EBITDA of GBP 1.5 million, and a year-end cash position of GBP 14 million. The order book stands at GBP 7.6 million, setting a solid foundation for future growth. The company aims to achieve breakeven by 2027, with existing facilities capable of producing quantum dot materials for up to 700 million sensors annually. The strategic review with CDX continues, aiming to explore high-value options for shareholders.Nanoco Group plc Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
30
Negative
Cash Flow
40
Negative
| Breakdown | Jul 2025 | Jul 2024 | Jul 2023 | Jul 2022 | Jul 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.62M | 7.87M | 5.62M | 2.47M | 2.09M |
| Gross Profit | 7.00M | 6.66M | 4.77M | 1.09M | 757.00K |
| EBITDA | 483.00K | 3.58M | 15.94M | -3.82M | -3.88M |
| Net Income | -2.20M | -1.25M | 11.09M | -4.70M | -4.39M |
Balance Sheet | |||||
| Total Assets | 21.23M | 30.66M | 50.77M | 10.89M | 9.23M |
| Cash, Cash Equivalents and Short-Term Investments | 14.00M | 20.29M | 8.21M | 6.76M | 3.81M |
| Total Debt | 1.30M | 1.91M | 6.43M | 4.09M | 4.17M |
| Total Liabilities | 40.73M | 47.67M | 34.35M | 6.41M | 6.18M |
| Stockholders Equity | -19.51M | -17.01M | 16.41M | 4.48M | 3.05M |
Cash Flow | |||||
| Free Cash Flow | -5.24M | 49.88M | -28.22M | -1.90M | -3.75M |
| Operating Cash Flow | -4.87M | 51.48M | -27.84M | -1.78M | -3.36M |
| Investing Cash Flow | 358.00K | -816.00K | 34.18M | -82.00K | -344.00K |
| Financing Cash Flow | -1.74M | -38.92M | -5.08M | 4.79M | 2.32M |
Nanoco Group plc Technical Analysis
Negative
8.12
Price Trends
5.72
Negative
7.13
Negative
9.30
Negative
Market Momentum
-0.25
Positive
37.06
Neutral
6.93
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:NANO, the sentiment is Negative. The current price of 8.12 is above the 20-day moving average (MA) of 5.47, above the 50-day MA of 5.72, and below the 200-day MA of 9.30, indicating a bearish trend. The MACD of -0.25 indicates Positive momentum. The RSI at 37.06 is Neutral, neither overbought nor oversold. The STOCH value of 6.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:NANO.
Nanoco Group plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £68.79M | 3.57 | 22.93% | ― | 36.61% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | £37.37M | 5.88 | 2.29% | 3.67% | -21.33% | -11.35% | |
51 Neutral | £281.01M | -0.96 | -40.92% | ― | -24.75% | -110.79% | |
49 Neutral | £27.09M | -2.04 | -35.93% | ― | -13.95% | 4.29% | |
43 Neutral | £8.90M | -11.93 | 11.53% | ― | -3.25% | -172.09% | |
39 Underperform | £27.08M | -21.06 | -12.60% | ― | -14.81% | -1362.50% |
* Technology Sector Average
GB:NANO
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4.88
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-33.06%
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Nanoco Group plc Corporate Events
Business Operations and StrategyLegal Proceedings
Nanoco and Shoei Strike Truce in Quantum Dot Patent Dispute
Positive
Mar 26, 2026
Nanoco Group has executed a definitive settlement agreement with Shoei Chemical Inc. and Shoei Electronic Materials, bringing their ongoing quantum dot patent litigation to a close. Under the deal, no compensation will be paid by either side and e...
Business Operations and StrategyLegal Proceedings
Nanoco and Shoei agree truce in quantum dot patent dispute
Positive
Mar 19, 2026
Nanoco Group has moved to end its legal dispute with Shoei Chemical and Shoei Electronic Materials by filing a joint motion to stay ongoing litigation after the parties agreed a binding term sheet. Under the arrangement, neither side will pay comp...
Legal Proceedings
Nanoco Adds Apple as Co-Party in Ongoing Shoei Litigation
Neutral
Feb 23, 2026
Nanoco Group has moved to add Apple as a named co-party in ongoing litigation initiated by Shoei Chemical and Shoei Electronic Materials in the U.S. District Court for the Eastern District of Virginia. The company emphasised that including Apple d...
Business Operations and StrategyExecutive/Board ChangesLegal Proceedings
Nanoco Abandons Sale Talks, Tightens Costs and Reshapes Board to Pursue Standalone Growth
Negative
Jan 26, 2026
Nanoco Group has ended its formal process to seek a buyer for its trading business after extensive but ultimately inconclusive talks with multiple potential acquirers, opting instead to pursue greater value through focused investment in its existi...
Financial DisclosuresLegal Proceedings
Nanoco Receives $4.5m Litigation Settlement from LG Electronics
Positive
Jan 15, 2026
Nanoco Group has received $4.5 million in litigation settlement proceeds from LG Electronics Inc. and LG Electronics U.S.A., Inc., following a previously agreed gross settlement of $5 million. The 10% difference has been withheld at source to meet...
Business Operations and StrategyRegulatory Filings and ComplianceShareholder Meetings
Nanoco AGM Sees Most Resolutions Passed but Key Governance Items Face Investor Pushback
Neutral
Jan 13, 2026
Nanoco Group plc reported the voting outcomes of its Annual General Meeting, confirming that 13 of the 15 proposed resolutions were approved by shareholders, while two special resolutions failed to reach the 75% approval threshold required. Severa...
Business Operations and StrategyLegal Proceedings
Nanoco Launches Patent Infringement Counterclaims Against Shoei Over Quantum Dot Technology
Neutral
Jan 12, 2026
Nanoco Group plc has filed an answer and counterclaims in the US District Court for the Eastern District of Virginia against Shoei Chemical Inc. and Shoei Electronic Materials, Inc., alleging infringement of several of its US patents covering quan...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.