Cannabix Technologies (BLO) AI Stock Analysis

• Market Cap: $74.84M
• Dividend Yield: N/A
• Average Volume (3M): 28.49K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.34
• Revenue Growth: N/A
• EPS Growth: -44.50%
• Country: CA
• Employees: N/A
• Sector: Healthcare
• Sector Strength: 44
• Industry: Medical - Devices
• EPS (TTM): >-0.01
• Shares Outstanding: 115,144,104
• 10 Day Avg. Volume: 28,390
• 30 Day Avg. Volume: 28,493
• PEG Ratio: -55.96
• Price to Book (P/B): 24.21
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -35.99
• 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

• Rating: 40 Underperform
• Price Target: ―

Cannabix Technologies has a low overall stock score due to severe financial challenges, characterized by zero revenue and ongoing losses. While technical indicators and recent corporate developments provide some optimism, the company's speculative valuation and financial instability remain significant concerns.

Cannabix Technologies Business Overview & Revenue Model

Company Description

Cannabix Technologies Inc. is a technology company focused on developing breathalyzer devices for detecting cannabis use. The company operates within the biotechnology sector and aims to advance law enforcement, workplace safety, and public health initiatives through its core products, which include the THC Breath Analyzer and related technologies.

How the Company Makes Money

Cannabix Technologies makes money primarily through the development and sale of its breathalyzer devices designed to detect cannabis usage. Revenue is generated from the sales of these devices to law enforcement agencies, employers, and other entities interested in cannabis detection technology. The company may also have potential revenue streams from licensing its technology to other firms and entering into strategic partnerships for distribution and development. However, specific data on these activities is not available.

Cannabix Technologies Financial Statement Overview

Summary

Cannabix Technologies has significant financial difficulties with zero revenue and continuous losses. The company has a strong equity position with minimal debt, but the lack of revenue and negative cash flows pose severe risks to financial sustainability.

Income Statement

Cannabix Technologies has consistently reported zero revenue over the years, indicating a lack of sales or monetization strategy. High negative EBIT and net income reflect continued operational losses, severely impacting profitability. The absence of revenue growth and negative profit margins highlight significant financial challenges.

Balance Sheet

The company's balance sheet shows a strong equity position with minimal debt, as indicated by a low debt-to-equity ratio. However, the substantial net losses have eroded stockholders' equity over time. Despite some equity stability, the continued operational losses pose risks to financial sustainability.

Cash Flow

Negative operating and free cash flows indicate cash burn without generating revenue, which is unsustainable in the long term. The company has been reliant on external financing, as seen in previous years' cash flows. Lack of positive cash flow from operations is a major concern.

Breakdown
TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00	0.00
	Gross Profit
-84.08K	-153.24K	-126.29K	-29.22K	-25.57K	-21.41K
	EBIT
-2.67M	-2.96M	-2.10M	-3.40M	-9.31M	-3.18M
	EBITDA
-2.95M	-2.95M	-1.98M	-3.11M	-9.11M	-6.95M
	Net Income Common Stockholders
-3.32M	-3.13M	-2.14M	-3.40M	-9.18M	-6.87M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
5.53M	4.26M	6.47M	8.45M	10.10M	8.44M
	Total Assets
5.93M	4.70M	6.95M	8.76M	10.38M	8.74M
	Total Debt
76.28K	154.58K	132.54K	0.00	0.00	0.00
	Net Debt
-5.46M	-4.06M	-6.34M	-8.45M	-10.10M	-8.44M
	Total Liabilities
194.02K	248.02K	237.17K	120.84K	80.78K	92.22K
	Stockholders Equity
5.73M	4.45M	6.71M	8.64M	10.30M	8.64M
Cash Flow		Free Cash Flow
-2.05M	-2.11M	-2.00M	-2.13M	-1.79M	-1.89M
	Operating Cash Flow
-2.03M	-2.08M	-1.97M	-2.13M	-1.71M	-1.89M
	Investing Cash Flow
-19.35K	-30.96K	-28.65K	-4.59K	-121.81K	0.00
	Financing Cash Flow
-170.61K	-143.53K	10.88K	492.50K	3.49M	58.75K

Cannabix Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.62
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BLO, the sentiment is Positive. The current price of 0.62 is above the 20-day moving average (MA) of 0.60, above the 50-day MA of 0.60, and above the 200-day MA of 0.48, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 54.13 is Neutral, neither overbought nor oversold. The STOCH value of 88.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:BLO.

Cannabix Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OGI	73 Outperform	$262.41M	18.83	4.76%	―	26.93%	―
Sector *	54 Neutral	$5.38B	3.40	-45.06%	3.28%	16.75%	-0.02%
ACB	50 Neutral	$446.21M	35.48	4.78%	―	16.39%	-98.10%
WEED	47 Neutral	$429.87M	―	-122.10%	―	-16.27%	―
BLO	40 Underperform	$74.84M	―	-79.91%	―	―	-44.50%

Cannabix Technologies Corporate Events

Cannabix Technologies Expands Market with New Distribution Deal for BreathLogix

Cannabix Technologies has announced a non-exclusive distribution agreement with Alco Prevention Canada for its BreathLogix autonomous alcohol breathalyzer devices in North America. This agreement is expected to expand Cannabix’s market reach and enhance workplace safety by providing a cost-effective and efficient solution for alcohol testing in various industries, including construction and hospitality. The BreathLogix device offers innovative features such as pre-calibrated cartridges, contactless testing modes, and real-time reporting, making it a disruptive technology in the growing breath testing market.

Spark’s Take on TSE:BLO Stock

According to Spark, TipRanks’ AI Analyst, TSE:BLO is a Neutral.

Cannabix Technologies’ stock score is driven by its weak financial performance, characterized by zero revenue and continuous losses. Positive technical indicators and recent corporate events offering strategic advancements provide some optimism. However, the speculative nature of the stock, reflected in its negative P/E ratio, underscores the significant financial and operational risks.

To see Spark’s full report on TSE:BLO stock, click here.

Cannabix Technologies to Showcase Breath Testing Innovations at Tennessee Conference

Cannabix Technologies announced its participation in the Tennessee Safety and Health Conference to showcase its Marijuana Breath Test and BreathLogix alcohol screening devices. The event, supported by the Tennessee Occupational Safety and Health Administration, provides an opportunity to connect with industry professionals and corporations in the drug and alcohol testing sector. The company’s MBT offers a portable breath collection solution for detecting recent THC use, while the BreathLogix devices provide unmanned, efficient alcohol screening for various employment settings. Additionally, Cannabix has changed its auditor to SHIM and Associates LLP, with no reservations or reportable events noted with the previous auditor.

Spark’s Take on TSE:BLO Stock

According to Spark, TipRanks’ AI Analyst, TSE:BLO is a Neutral.

Cannabix Technologies’ stock score is driven by its weak financial performance, characterized by zero revenue and continuous losses. Positive technical indicators and recent corporate events offering strategic advancements provide some optimism. However, the speculative nature of the stock, reflected in its negative P/E ratio, underscores the significant financial and operational risks.

To see Spark’s full report on TSE:BLO stock, click here.

Cannabix Technologies to Market Marijuana Breath Test at Major Industry Conference

Cannabix Technologies Inc. announced its participation in the National Drug and Alcohol Screening Association conference in Florida, alongside Omega Laboratories, to market their Marijuana Breath Test (MBT). This follows a significant milestone where Omega Laboratories validated the MBT, which can detect recent marijuana use by quantifying THC and other cannabinoids in breath aerosols. The company is preparing to scale its operations to meet anticipated demand, positioning itself as a leader in the drug detection industry.

Cannabix and Omega Validate Innovative Marijuana Breath Test

Cannabix Technologies Inc. and Omega Laboratories have successfully validated a marijuana breath test method that quantifies THC and other cannabinoids using Cannabix’s Breath Collection Unit. This collaboration marks a significant advancement in drug testing technology, offering a rapid and precise solution for detecting recent marijuana use, which is particularly relevant in the context of increasing cannabis legalization. The integration of Cannabix’s technology with Omega’s testing protocols enhances the accuracy and reliability of cannabis testing, providing a critical tool for industries facing challenges in detecting recent marijuana use.

Cannabix Technologies Announces Stock Options and Director Resignation

Cannabix Technologies has announced the granting of 3,375,000 incentive stock options to its officers, directors, and consultants, with a portion subject to vesting provisions. Additionally, Thomas Clarke has resigned as a Director, and the company has engaged InvestorsHub.com for news dissemination services, indicating strategic moves to enhance its operational and market positioning.