Trellus Health PLC (TRLS) AI Stock Analysis

• Market Cap: £1.53M
• Dividend Yield: N/A
• Average Volume (3M): 1.03M
• Price to Earnings (P/E): ―
• Beta (1Y): 4.50
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 31
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Information Services
• EPS (TTM): -0.01
• Shares Outstanding: 161,508,330
• 10 Day Avg. Volume: 590,654
• 30 Day Avg. Volume: 1,032,652
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.09
• Price to Sales (P/S): 9.31
• P/FCF Ratio: -0.13
• 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: 51 Neutral
• Price Target: 1.00p ▲(150.00% Upside)

The score is held down primarily by weak financial performance—large ongoing losses, negative free cash flow, and declining equity—despite the benefit of having no debt. Technicals are the main positive, with strong momentum above major moving averages, but valuation remains constrained by loss-making results and no indicated dividend yield.

Trellus Health PLC Business Overview & Revenue Model

Company Description

Trellus Health plc provides digital chronic condition management solutions for employers and health plans. The company offers TrellusElevate, a proprietary HIPAA-compliant technology platform to coordinate and deliver personalized care remotely through telemedicine. Its platform provides patients with access to a care team, educational content resources, and remote monitoring capabilities for the treatment of inflammatory bowel diseases, which include the chronic incurable conditions of Crohn's Disease and ulcerative colitis. The company was founded in 2020 and is headquartered in White Plains, New York.

How the Company Makes Money

Trellus Health PLC Financial Statement Overview

Summary

Despite sharp revenue growth off a small base and positive gross profit, the company continues to post very large operating and net losses with consistently negative cash flow. A key offset is the debt-free balance sheet, but declining equity and ongoing cash burn elevate funding and execution risk.

Income Statement

Revenue is growing off a very small base (2024 revenue up sharply versus 2023), and reported gross profit is positive. However, operating losses remain extremely large relative to sales, with deeply negative operating and net margins in each year provided. Net losses also widened in 2024 versus 2023, indicating the business has not yet demonstrated meaningful operating leverage.

Balance Sheet

The balance sheet shows no debt across the periods provided, which materially reduces financial risk and refinancing pressure. That said, equity has declined significantly over time, and returns on equity are consistently negative, reflecting ongoing losses and potential dilution/financing needs if cash burn persists.

Cash Flow

Operating cash flow and free cash flow are consistently negative, signaling ongoing cash burn. While free cash flow improved in 2024 versus 2023, the company still consumed substantial cash, and cash generation has not yet stabilized to support the current cost structure without external funding.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	359.00K	114.00K	19.00K	18.00K	25.00K	0.00
Gross Profit	359.00K	114.00K	19.00K	18.00K	25.00K	0.00
EBITDA	-6.93M	-7.16M	-6.50M	-8.27M	-5.87M	-1.52M
Net Income	-6.89M	-7.78M	-6.34M	-8.81M	-5.90M	-1.52M
Balance Sheet
Total Assets	9.22M	12.14M	20.29M	25.91M	36.80M	4.37M
Cash, Cash Equivalents and Short-Term Investments	1.57M	4.34M	12.17M	19.09M	31.98M	3.68M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	513.00K	371.00K	786.00K	822.00K	1.52M	122.00K
Stockholders Equity	8.71M	11.77M	19.50M	25.09M	35.27M	4.25M
Cash Flow
Free Cash Flow	-6.16M	-7.86M	-7.63M	-11.53M	-8.49M	-1.32M
Operating Cash Flow	-6.16M	-7.32M	-5.27M	-8.62M	-4.77M	-1.30M
Investing Cash Flow	-291.00K	-540.00K	-2.35M	-2.91M	-3.72M	-1.35M
Financing Cash Flow	0.00	0.00	0.00	0.00	38.52M	10.02M

Trellus Health PLC Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KOO	76 Outperform	£49.00M	17.50	10.86%	―	―	―
IXI	58 Neutral	£10.43M	-6.05	-15.57%	―	13.32%	55.07%
COG	52 Neutral	£16.76M	-9.02	-68.57%	―	-30.77%	-6.97%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TRLS	51 Neutral	£1.53M	-0.29	-56.95%	―	―	―
ABDX	45 Neutral	£15.06M	-6.32	-90.48%	―	37.39%	-126.19%
RENX	43 Neutral	£25.13M	-0.40	425.97%	―	-4.48%	61.09%

Trellus Health PLC Corporate Events

Trellus Health Issues New Shares to Settle Loan Note Fees

Trellus Health plc has issued 19,230,769 new ordinary shares in lieu of cash payment for settlement fees related to its secured convertible loan notes, following shareholder approval at a recent general meeting. The new shares are expected to be admitted to trading on AIM around 2 February 2026, taking the company’s total shares in issue to 180,739,102, which will also represent the total voting rights, and modestly diluting existing shareholders while strengthening the company’s capital position by conserving cash.

The most recent analyst rating on (GB:TRLS) stock is a Hold with a £1.00 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.

Trellus Health Wins Overwhelming Shareholder Backing at General Meeting

Trellus Health plc announced that all resolutions put to shareholders at its General Meeting on 20 January 2026 were duly passed on a poll, with each motion receiving more than 99.8% of votes cast in favour. The strong shareholder support provides the company with the necessary corporate approvals to continue executing its strategy around its Trellus Elevate® digital platform and broader value-based chronic care offering, reinforcing its operational flexibility and governance backing as it pursues growth in the chronic disease management market.

The most recent analyst rating on (GB:TRLS) stock is a Sell with a £0.38 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.

Trellus Health Grants Share Options to Chairman to Align Incentives with Shareholders

Trellus Health has granted options over 807,541 ordinary shares to its chairman, Kevin Murphy, under the company’s existing share option plan at an exercise price of 0.525p, matching the pricing of a recent loan note arrangement with Mount Sinai. The options vest in 12 equal quarterly instalments over approximately 39 months and are subject to standard lock-in and leaver provisions; the independent directors say the award is fair and reasonable and is intended to align the chairman’s incentives closely with those of shareholders, signalling continued emphasis on governance and long-term value creation as the company pursues its chronic-condition management strategy.

The most recent analyst rating on (GB:TRLS) stock is a Sell with a £0.38 price target. To see the full list of analyst forecasts on Trellus Health PLC stock, see the GB:TRLS Stock Forecast page.

Trellus Health Seeks Up to £5m via Convertible Loan Notes to Extend Cash Runway

Trellus Health plans to raise up to £5 million via a 12‑month secured convertible loan note facility from an institutional investor, with warrants attached and funds available in staged tranches, subject to shareholder approval at a general meeting on 20 January 2026. The financing is designed to extend the company’s cash runway, with the first two tranches expected to fund operations until late Q1 2026, support ongoing commercial initiatives and partnership discussions, and provide flexibility over the timing and scale of capital drawdowns, but the board warns that failure to secure shareholder backing or alternative funding would likely result in the company ceasing to be a going concern and entering administration.

Trellus Health Secures $600,000 Loan to Boost Commercial Strategy

Trellus Health PLC has entered into an unsecured loan agreement with its substantial shareholder, Icahn School of Medicine at Mount Sinai, for $600,000 to support its commercial strategy and extend its cash runway to January 2026. The loan, which is non-interest bearing for the first six months, will help the company focus on securing additional commercial contracts with pharmaceutical companies and CROs, with recent contracts signed with two leading global CROs to implement trials by year-end.

Trellus Health Expands Clinical Trial Services with New CRO Contract

Trellus Health PLC has signed a 12-month contract with a leading global clinical research organization to utilize its Trellus TrialSet™ offering, focusing on immunology and inflammation. This marks the company’s second contract with a major CRO, reinforcing its strategic growth in the clinical trials sector. The contract includes upfront, monthly, and milestone payments, and is structured around key performance indicators to optimize trial recruitment and reduce screen failure rates. This development highlights Trellus Health’s growing recognition in the pharmaceutical sector, although it does not immediately extend the company’s cash runway beyond December 2025.

Trellus Health Secures Strategic Contract with Leading CRO

Trellus Health PLC has signed a 12-month contract with a leading global clinical research organization to utilize its Trellus TrialSet™ offering, focusing on immunology and inflammation for two late-stage clinical trials. This contract, which includes various performance-based fees, marks the company’s second agreement with a major CRO, underscoring the strategic importance of the clinical trials sector for Trellus Health. While the contract does not immediately extend the company’s financial runway, it highlights the growing recognition of Trellus Health’s value in the pharmaceutical sector.