Physitrack Limited (PTRK) AI Stock Analysis

• Market Cap: kr158.71M
• Dividend Yield: N/A
• Average Volume (3M): 49.62K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.57
• Revenue Growth: -8.33%
• EPS Growth: -329.50%
• Country: SE
• Employees: 81
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Information Services
• EPS (TTM): -0.11
• Shares Outstanding: 16,260,765
• 10 Day Avg. Volume: 41,844
• 30 Day Avg. Volume: 49,617
• PEG Ratio: <0.01
• Price to Book (P/B): 0.62
• Price to Sales (P/S): 0.73
• P/FCF Ratio: -32.63
• 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: 46 Neutral
• Price Target: kr10.50 ▼(-20.15% Downside)

Physitrack Limited's overall stock score is primarily impacted by its financial performance challenges, including declining revenues and negative profitability margins. Technical analysis indicates a bearish trend, and valuation metrics are weak due to a negative P/E ratio and no dividend yield. These factors collectively result in a low overall stock score.

Positive Factors

Free cash flow improvement

A 126% improvement in free cash flow over the trailing period indicates materially better cash generation and working-capital management. This durable cash uplift reduces dependence on external financing, supports reinvestment in product and sales, and lengthens runway over the next several quarters.

High gross margin

A gross margin near 79% reflects the scalable economics of a software and content-led rehab platform. High incremental margins mean new subscription or licensing revenue converts strongly to gross profit, enabling potential long-term operating leverage if fixed costs are controlled.

Strong cash conversion

An operating cash flow to net income ratio of 0.84 shows reported results largely convert into cash, indicating revenue quality and disciplined cash collections. This durable cash conversion supports liquidity management and funds ongoing product development without immediate capital raises.

Negative Factors

Declining revenue

Negative revenue growth near -8% signals shrinking recurring top line for a subscription business, implying customer churn, suppressed new-sales momentum, or pricing pressure. Without revenue stabilization, scalability and margin improvement will be hard to achieve over the medium term.

Persistent unprofitability

Continued negative net and EBIT margins indicate the business still operates below breakeven despite high gross margins. Structural cost issues in sales, R&D or G&A need resolving to translate strong unit economics into corporate profitability over the coming quarters.

Weak return on equity

A negative return on equity shows the company is not generating adequate returns on shareholder capital. Over a multi-quarter horizon this constrains ability to attract new equity and highlights execution gaps in turning assets and investments into sustainable profits.

Physitrack Limited Business Overview & Revenue Model

Company Description

Physitrack PLC, together with its subsidiaries, operates as a digital healthcare provider worldwide. It offers SaaS platform, a cloud-based software platform used by single practitioners and large healthcare organizations, which enables the digitalization of the patient journey, from initial contact to patient interactions and outcomes tracking. The company also delivers virtual care in three distinct but related patient and insurance plan member need areas, such as prevention and wellness care, acute and chronic care, and surgical care. It offers its virtual care solutions to healthcare companies, including private and public hospitals, clinics, and other business owners. The company was formerly known as Physitrack Limited and changed its name to Physitrack PLC in May 2021. Physitrack PLC was incorporated in 2012 and is based in London, the United Kingdom.

How the Company Makes Money

Physitrack generates revenue through a subscription-based model, where healthcare providers pay for access to its platform and services. Key revenue streams include subscription fees from clinics and individual practitioners, as well as fees for additional features and services such as telehealth consultations and custom exercise program creation. The company may also generate revenue through partnerships with healthcare organizations, insurance companies, and educational institutions that integrate its solutions into their operations. Significant factors contributing to its earnings include the growing demand for digital health solutions and the increasing emphasis on remote patient management in the physiotherapy sector.

Physitrack Limited Financial Statement Overview

Summary

Physitrack Limited faces challenges with declining revenues and persistent profitability issues, as evidenced by negative margins. The balance sheet is relatively stable with moderate leverage, but the negative return on equity is concerning. Cash flow improvements are a positive sign, but the company needs to address its operational inefficiencies to enhance financial performance.

Income Statement

Physitrack Limited's income statement shows a declining revenue trend with a negative growth rate of -2.83% in the TTM period. The company has been struggling with profitability, as indicated by negative net profit and EBIT margins. The gross profit margin remains strong at 78.86%, but the consistent negative net income and EBIT margins highlight ongoing operational challenges.

Balance Sheet

The balance sheet reflects moderate leverage with a debt-to-equity ratio of 0.23 in the TTM period, indicating a manageable level of debt. However, the return on equity is negative, suggesting inefficiencies in generating returns for shareholders. The equity ratio is not explicitly calculated, but the company's equity position appears stable relative to its assets.

Cash Flow

Cash flow analysis reveals a significant improvement in free cash flow growth at 126.08% in the TTM period, indicating better cash management. The operating cash flow to net income ratio is 0.84, showing a strong ability to convert income into cash. However, the free cash flow to net income ratio is low, suggesting limited free cash flow relative to net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Nov 2022	Nov 2021	Nov 2020
Income Statement
Total Revenue	14.79M	16.18M	15.18M	12.51M	7.81M	5.83M
Gross Profit	8.01M	16.18M	3.87M	12.37M	7.81M	5.83M
EBITDA	-2.01M	-2.09M	7.09M	2.57M	1.07M	1.60M
Net Income	-6.45M	-6.45M	3.20M	92.32K	-815.03K	688.41K
Balance Sheet
Total Assets	26.90M	30.51M	38.70M	41.31M	32.28M	11.95M
Cash, Cash Equivalents and Short-Term Investments	603.34K	723.39K	536.03K	577.74K	13.32M	775.55K
Total Debt	4.04M	4.81M	3.58M	831.66K	1.31K	1.97M
Total Liabilities	9.16M	11.34M	13.13M	18.94M	3.63M	6.76M
Stockholders Equity	17.73M	19.17M	25.57M	22.37M	23.29M	5.19M
Cash Flow
Free Cash Flow	1.35M	-363.54K	-773.78K	-3.04M	654.05K	1.05M
Operating Cash Flow	4.24M	3.13M	2.65M	1.45M	659.81K	2.03M
Investing Cash Flow	-3.00M	-3.49M	-5.04M	-14.78M	-4.54M	-773.58K
Financing Cash Flow	-1.14M	537.79K	2.34M	795.50K	14.85M	-3.37K

Physitrack Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 13.15
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:PTRK, the sentiment is Neutral. The current price of 13.15 is above the 20-day moving average (MA) of 10.46, above the 50-day MA of 11.92, and below the 200-day MA of 14.69, indicating a neutral trend. The MACD of -0.59 indicates Negative momentum. The RSI at 50.42 is Neutral, neither overbought nor oversold. The STOCH value of 61.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:PTRK.

Physitrack Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KONT	52 Neutral	kr61.69M	-28.91	-3.01%	―	-3.31%	-240.00%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
PTRK	46 Neutral	kr158.71M	-2.17	―	―	-8.33%	-329.50%
ISOFOL	43 Neutral	kr165.43M	-2.27	-51.35%	―	―	-34.02%
QLINEA	42 Neutral	kr435.54M	-0.68	-330.10%	―	270.64%	62.29%
AINO	41 Neutral	kr32.94M	-5.38	-8607.90%	―	10.03%	66.78%
ACTI	40 Underperform	kr100.17M	-1.53	-1291.15%	―	―	28.54%