ProStar Holdings Inc (MAPS) AI Stock Analysis

• Market Cap: C$22.61M
• Dividend Yield: N/A
• Average Volume (3M): 108.92K
• Price to Earnings (P/E): ―
• Beta (1Y): -2.19
• Revenue Growth: 3.08%
• EPS Growth: 59.01%
• Country: CA
• Employees: 24
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 0.00
• Shares Outstanding: 161,503,100
• 10 Day Avg. Volume: 185,263
• 30 Day Avg. Volume: 108,925
• PEG Ratio: 0.09
• Price to Book (P/B): -108.13
• Price to Sales (P/S): 13.57
• P/FCF Ratio: -5.00
• 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: 44 Neutral
• Price Target: C$0.11 ▼(-30.00% Downside)
• Action: Reiterated Date: 01/14/26
• Date: Action: Reiterated 01/14/26

The score is mainly held down by weak financial performance: large ongoing losses, persistent cash burn, and negative equity outweigh positive revenue growth and strong gross margins. Technical signals are mixed-to-cautious, and valuation support is limited due to negative earnings and no dividend data.

Positive Factors

High Gross Margins

Sustained ~82% gross margins reflect software-driven economics and low incremental cost to serve. That margin profile supports long-term operating leverage: as subscription revenue scales, a larger portion can flow to R&D, sales, or EBITDA conversion, improving durability of profitability potential.

Recurring Revenue Growth

Multi-year revenue growth suggests product-market fit in geospatial SaaS. Recurring subscription model implies predictable cash inflows, enabling planning for customer retention, incremental upsells, and longer-term customer lifetime value improvements if churn remains controlled.

Minimal Debt Burden

No reported debt reduces near-term refinancing risk and interest obligations, preserving financial flexibility. For a cash-burning growth-stage SaaS business, this lowers insolvency risk and makes equity or partnership financing easier to pursue for runway extension or strategic investments.

Negative Factors

Negative Equity

Negative shareholders' equity signals an accumulated deficit and weak balance-sheet cushion, limiting the company's ability to absorb shocks or fund investments internally. Over months, this elevates reliance on external capital and raises governance and creditor scrutiny risks.

Persistent Cash Burn

Sustained negative operating and free cash flow (about -$2.7M in 2024) undermines self-funding and requires recurring external financing. That constrains strategic options, limits reinvestment capacity, and creates execution risk if capital access tightens over the coming months.

Deep Operating Losses

Very large negative net margins indicate the company is far from profitable despite revenue gains. Persistent heavy losses can dilute shareholder value via future financings, pressure cost structure, and mean management must demonstrate a credible, durable path to sustainable margins.

ProStar Holdings Inc Business Overview & Revenue Model

Company Description

ProStar Holdings Inc. develops geospatial intelligence software. It provides PointMan, a cloud and mobile mapping software application that captures, records, and displays the precise location and the associated metadata to critical surface and subsurface infrastructure. The company is headquartered in Grand Junction, Colorado.

How the Company Makes Money

ProStar Holdings Inc makes money primarily through the sale of its cloud-based software solutions and related services. The company generates revenue by offering subscriptions to its mapping and geospatial data services, which are utilized by clients in infrastructure, construction, and utility sectors. Key revenue streams include licensing fees for its software platforms, subscription fees for ongoing access to its services, and professional services for customization and integration. Strategic partnerships with industry leaders and government contracts also play a significant role in enhancing the company's market presence and contributing to its earnings.

ProStar Holdings Inc Financial Statement Overview

Summary

Despite revenue growth and strong gross margins, profitability and cash generation are very weak. Net margin is deeply negative, free cash flow remains negative, and negative equity indicates limited balance-sheet resilience (even with zero reported debt).

Income Statement

Revenue has grown over the last two years (2024 up ~21% vs. 2022), and gross margin remains strong (2024 ~82% vs. 2022 ~75%), which is a positive software-like profile. However, profitability remains very weak: 2024 net margin is deeply negative (~-278%) and operating losses are still large, even though losses narrowed meaningfully from 2023. Overall, the company is showing top-line progress and improving loss trajectory, but it has not demonstrated a viable path to profitability yet.

Balance Sheet

The balance sheet shows financial stress: stockholders’ equity is negative in 2024 and 2023, indicating an accumulated deficit and limited balance-sheet cushion. A key positive is that reported total debt is currently zero in 2024 (down from 2023), reducing refinancing risk. Still, with negative equity and a small asset base, the company’s flexibility is constrained and it may be reliant on external funding to sustain operations.

Cash Flow

Cash generation is a major weakness. Operating cash flow and free cash flow are consistently negative across all shown years, including 2024 (~-$2.7M), although burn improved versus 2023. Free cash flow growth is negative in 2024, suggesting the pace of improvement is not yet consistent. With ongoing cash burn and no clear self-funding profile, liquidity risk remains elevated.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	945.66K	1.00M	828.28K	757.15K	750.20K	1.12M
Gross Profit	659.59K	826.06K	649.16K	569.87K	604.96K	972.83K
EBITDA	-1.54M	-2.65M	-5.29M	-4.88M	-5.66M	-6.60M
Net Income	-1.58M	-2.78M	-5.43M	-5.04M	-5.71M	-6.73M
Balance Sheet
Total Assets	512.68K	620.15K	330.11K	2.47M	7.34M	3.56M
Cash, Cash Equivalents and Short-Term Investments	243.39K	175.95K	68.92K	2.21M	7.03M	3.40M
Total Debt	0.00	0.00	117.65K	0.00	159.33K	122.07K
Total Liabilities	844.82K	746.00K	806.39K	470.43K	750.22K	955.51K
Stockholders Equity	-332.14K	-125.85K	-476.27K	2.00M	6.59M	2.61M
Cash Flow
Free Cash Flow	-1.34M	-2.72M	-4.50M	-4.43M	-4.62M	-1.89M
Operating Cash Flow	-1.34M	-2.72M	-4.49M	-4.42M	-4.60M	-1.86M
Investing Cash Flow	0.00	0.00	-6.53K	-5.53K	-19.35K	-30.26K
Financing Cash Flow	1.57M	2.86M	2.40M	-134.91K	8.22M	5.16M

ProStar Holdings Inc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.16
• 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:MAPS, the sentiment is Negative. The current price of 0.16 is above the 20-day moving average (MA) of 0.12, above the 50-day MA of 0.14, and above the 200-day MA of 0.13, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 45.73 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:MAPS.

ProStar Holdings Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CTZ	79 Outperform	C$31.11M	13.38	27.13%	―	18.05%	22.83%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
RW	57 Neutral	C$16.55M	65.57	446.71%	―	15.42%	―
RSS	50 Neutral	C$42.42M	-116.67	―	―	104.32%	70.63%
IMP	46 Neutral	C$134.01M	-41.33	-14.10%	―	48.18%	-401.19%
NTAR	46 Neutral	C$33.24M	-5.96	―	―	-59.22%	83.08%
MAPS	44 Neutral	C$22.61M	-8.87	―	―	3.08%	59.01%

ProStar Holdings Inc Corporate Events

ProStar Upsizes Secured Convertible Debenture Financing to US$675,000

ProStar Holdings Inc. has increased the size of its previously announced non-brokered private placement of secured convertible debentures from US$500,000 to up to US$675,000, with the instruments carrying a 12.5% annual interest rate, a 24‑month maturity and a conversion price of US$0.10 per unit, each unit consisting of one common share and half a warrant exercisable at US$0.14 for five years. The debentures, secured by a first-ranking charge over all of the company’s present and future assets, feature automatic conversion triggers tied to achieving specified annual recurring revenue milestones in 2026 and 2027, will fund general corporate purposes, and include planned participation by certain directors under related-party transaction exemptions, subject to TSX Venture Exchange and other regulatory approvals and a four‑month hold period on the securities issued.

The most recent analyst rating on (TSE:MAPS) stock is a Sell with a C$0.12 price target. To see the full list of analyst forecasts on ProStar Holdings Inc stock, see the TSE:MAPS Stock Forecast page.

ProStar Raises Insider-Backed Convertible Debt to Fund Growth

ProStar Holdings Inc. plans to raise up to US$500,000 through a non-brokered private placement of secured convertible debentures to a company director, with the proceeds earmarked for general corporate purposes. The two-year debentures carry 12.5% interest, are convertible into units at US$0.10 per unit, and include warrants exercisable at US$0.14, with automatic conversion tied to specified annual recurring revenue milestones in 2026 and 2027. The financing, secured by a first-ranking charge on the company’s assets and subject to TSXV and other regulatory approvals, underscores insider support and provides additional funding flexibility as ProStar pursues growth in its critical infrastructure mapping business.

The most recent analyst rating on (TSE:MAPS) stock is a Sell with a C$0.12 price target. To see the full list of analyst forecasts on ProStar Holdings Inc stock, see the TSE:MAPS Stock Forecast page.

ProStar and Tersus GNSS Partner to Enhance Global Precision Mapping Solutions

ProStar Holdings Inc. has announced a strategic partnership with Tersus GNSS to deliver a comprehensive precision mapping solution to the utility and critical infrastructure industries worldwide. This collaboration integrates Tersus’s GNSS receivers with ProStar’s PointMan, enhancing the accessibility and affordability of centimeter-accurate positioning for global deployment. The partnership is a significant step in ProStar’s strategy to expand its ecosystem through the LinQD platform, uniting top equipment manufacturers and service providers to strengthen PointMan’s position as a leading mapping solution. This initiative is expected to create growth opportunities, particularly in the utility and construction sectors, and demonstrates ProStar’s commitment to building a connected ecosystem for geospatial intelligence.

ProStar Expands Client Base with GroundBreakers Partnership

ProStar Holdings Inc. has announced that GroundBreakers, a utility management services company, has adopted its PointMan Precision Mapping Solutions to enhance digital transformation and operational efficiency. This partnership highlights a significant industry shift towards digital solutions in critical infrastructure management, positioning ProStar at the forefront of this transformation. The adoption of ProStar’s technology by GroundBreakers, a veteran and women-owned company operating in the Midwest, underscores the growing demand for advanced utility management services and ProStar’s strategic role in modernizing the industry.