Aether Catalyst Solutions (ATHR) AI Stock Analysis

• Market Cap: C$3.02M
• Dividend Yield: N/A
• Average Volume (3M): 239.31K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.56
• Revenue Growth: N/A
• EPS Growth: -67.37%
• Country: CA
• Employees: N/A
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Parts
• EPS (TTM): >-0.01
• Shares Outstanding: 75,430,610
• 10 Day Avg. Volume: 125,831
• 30 Day Avg. Volume: 239,308
• PEG Ratio: 0.28
• Price to Book (P/B): -3.28
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -8.11
• 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: C$0.04 ▼(-24.00% Downside)

The score is held down primarily by very weak financial performance (pre-revenue profile, widening losses, accelerating cash burn, and negative equity). Technical indicators also show a clear downtrend with negative momentum, while valuation provides limited support due to negative earnings and no stated dividend yield.

Positive Factors

Historical stronger capital structure

The company previously reported positive equity in 2021–2022, indicating it has operated from a healthier capital base before. That historical strength implies the balance sheet can be repaired under the right operational or financing actions, offering a realistic path back to stability rather than permanent structural failure.

Moderate absolute debt burden

Total debt of ~437k is moderate in absolute terms, meaning interest and principal obligations are not extremely large. If management can stabilize operations or secure modest refinancing, this level of debt could be manageable and less likely to create outsized cash interest strain relative to larger indebted peers.

Free cash flow showing positive growth (from negative base)

Although free cash flow remains negative, the TTM shows positive growth versus prior periods. This suggests early signs of improving cash discipline or cost control. If the trend persists, it can reduce required external financing and extend runway, a durable improvement in financial health over months.

Negative Factors

Pre-revenue operations

The company reports zero revenue across the period, indicating a pre-revenue profile. This means no proven commercial traction, limited ability to self-fund operations, and heavy reliance on external financing. Over the medium term this increases execution and viability risk for the business model.

Accelerating cash burn

Operating cash flow deteriorated materially in the TTM, showing acccelerating cash burn. This persistent negative OCF and worsening free cash flow shorten runway, force dilutive financings or cutbacks, and constrain investment in product or market development—structural headwinds for recovery.

Negative equity and weak balance sheet

Negative equity over multiple periods signals a fragile balance sheet and potential solvency concerns. It limits the company's ability to borrow on favorable terms, increases dilution risk from future equity raises, and reduces strategic flexibility to invest for growth or withstand shocks across the medium term.

Aether Catalyst Solutions Business Overview & Revenue Model

Company Description

Aether Catalyst Solutions, Inc. engages in commercializing patent pending catalyst technology for use in automotive emissions abatement. The company was formerly known as Catcon Technologies Ltd. and changed its name to Aether Catalyst Solutions, Inc. in June 2017. The company was incorporated in 2011 and is headquartered in Burnaby, Canada.

How the Company Makes Money

Aether Catalyst Solutions generates revenue primarily through the sale of its catalytic materials to original equipment manufacturers (OEMs) in the automotive industry. The company also engages in strategic partnerships and licensing agreements to extend its technology's reach and application across various markets. Additionally, Aether may receive funding from government grants and research collaborations aimed at advancing clean technology solutions.

Aether Catalyst Solutions Financial Statement Overview

Summary

Financials are extremely weak: revenue is reported at 0, gross profit is consistently negative (TTM: -37k), losses widened materially in TTM (net loss: -1.06M vs. -573k in 2024), and operating cash flow/free cash flow deteriorated sharply (TTM OCF: -1.02M; TTM FCF: -1.03M). Balance sheet risk is elevated with negative equity (TTM: -308k) and limited asset coverage (TTM assets: 281k), increasing financing/dilution risk.

Income Statement

Results remain very weak. Revenue is reported at 0 across the period, while gross profit is consistently negative (TTM (Trailing-Twelve-Months): -37k), implying the business is not covering direct costs. Losses have widened materially in TTM (net loss: -1.06M vs. -573k in 2024 annual), with operating losses also expanding, indicating deteriorating profitability and limited visibility to operating leverage. The only modest positive is that losses have not been uniformly worsening every year, but the overall trajectory into TTM is negative.

Balance Sheet

The balance sheet is pressured by negative equity in TTM (-308k) and 2024 (-596k), which reduces financial flexibility and increases dilution/financing risk. Debt is moderate in absolute terms (TTM: 437k) but elevated relative to the company’s capital base given the equity deficit; assets are also relatively small (TTM: 281k), limiting collateral/asset coverage. A prior period of positive equity (2021–2022) shows the structure has been stronger historically, but the current position is still fragile.

Cash Flow

Cash generation is a major weakness. Operating cash flow is consistently negative and deteriorated sharply in TTM (-1.02M vs. -241k in 2024 annual), with free cash flow also deeply negative (TTM: -1.03M), pointing to accelerating cash burn. While free cash flow has generally tracked net losses (free cash flow roughly in line with net income), this reflects losses translating into cash outflows rather than strong earnings quality. The reported free cash flow growth is positive in TTM, but it is from a negative base and does not change the fact that burn is increasing versus last year.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-37.31K	-57.38K	-69.63K	-57.23K	-70.63K	-55.41K
EBITDA	-927.09K	-419.00K	-536.00K	-518.00K	-381.00K	-346.27K
Net Income	-1.06M	-573.00K	-615.00K	-537.00K	-469.11K	-426.54K
Balance Sheet
Total Assets	281.46K	200.32K	96.69K	221.00K	762.42K	292.09K
Cash, Cash Equivalents and Short-Term Investments	93.12K	11.60K	17.24K	63.89K	588.69K	45.41K
Total Debt	437.23K	462.90K	168.04K	90.94K	127.77K	174.13K
Total Liabilities	589.74K	796.15K	324.56K	155.82K	203.91K	401.29K
Stockholders Equity	-308.28K	-595.83K	-227.87K	65.19K	558.50K	-109.19K
Cash Flow
Free Cash Flow	-1.03M	-240.71K	-341.68K	-506.98K	-427.34K	-209.36K
Operating Cash Flow	-1.02M	-240.71K	-335.95K	-475.06K	-427.34K	-147.94K
Investing Cash Flow	-13.59K	0.00	-5.73K	14.60K	0.00	-61.42K
Financing Cash Flow	1.12M	235.07K	295.02K	-64.34K	970.62K	109.57K

Aether Catalyst Solutions Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.05
• 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 TSE:ATHR, the sentiment is Negative. The current price of 0.05 is above the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.05, and below the 200-day MA of 0.08, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 38.95 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ATHR.

Aether Catalyst Solutions Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MG	77 Outperform	C$19.78B	13.80	8.31%	3.69%	0.66%	-0.61%
LNR	73 Outperform	C$5.15B	21.06	4.01%	1.32%	-5.33%	-57.58%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
MRE	51 Neutral	C$699.21M	-17.30	-2.64%	1.93%	-7.25%	-143.07%
WPRT	50 Neutral	C$45.32M	-0.58	-24.45%	―	-47.09%	-119.76%
FHYD	43 Neutral	C$28.97M	-8.30	―	―	―	57.00%
ATHR	41 Neutral	C$3.02M	-2.52	―	―	―	-67.37%