NTG Clarity Networks Inc (TSE:NCI)
:NCI
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NTG Clarity Networks
(NCI)
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Rating:65Neutral
Price Target:
C$1.00
▼(-7.41% Downside)
Action:ReiteratedDate:12/11/25
The overall stock score of 65 reflects strong financial performance, particularly in revenue growth and profitability, despite cash flow challenges. The technical analysis indicates a bearish trend, while the valuation suggests the stock is undervalued. The absence of earnings call data and corporate events means these factors did not influence the score.
Positive Factors
Revenue Growth
Sustained high revenue growth (reported 62.6% in fundamentals) reflects strong product-market fit for its software and services. Durable because recurring licensing, subscription and services revenue plus telecom/utility partnerships can maintain top-line momentum and support scale over 2–6 months.
Negative Factors
Negative Operating Cash Flow
Reported negative operating and free cash flow in the trailing twelve months signals cash generation is not keeping pace with accounting profits. Over months this can constrain working capital, limit reinvestment, and force external financing or slower growth execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained high revenue growth (reported 62.6% in fundamentals) reflects strong product-market fit for its software and services. Durable because recurring licensing, subscription and services revenue plus telecom/utility partnerships can maintain top-line momentum and support scale over 2–6 months.
Read all positive factors
NTG Clarity Networks (NCI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$47.79M
Dividend YieldN/A
Average Volume (3M)125.83K
Price to Earnings (P/E)12.4
Beta (1Y)0.72
Revenue Growth62.61%
EPS Growth-10.60%
CountryCA
Employees400
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.04
Shares Outstanding47,792,700
10 Day Avg. Volume239,896
30 Day Avg. Volume125,830
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)5.65
Price to Sales (P/S)1.27
P/FCF Ratio44.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$2.25Price Target Upside108.33% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.2
Revenue Forecast (FY)C$95.02M
NTG Clarity Networks Business Overview & Revenue Model
Company Description
NTG Clarity Networks Inc. provides telecommunications engineering, information technology, networking, and related software solutions worldwide. Its products include StageEM, an enterprise solution that covers project portfolio management, demand ...
How the Company Makes Money
NTG Clarity Networks generates revenue primarily through the sale of its software solutions and consulting services. The company's revenue model includes licensing fees for its software products, which are typically sold on a subscription basis or...
NTG Clarity Networks Earnings Call Summary
Earnings Call Date:Nov 12, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Positive
The call highlights significant financial growth and strategic achievements, including record revenue and net income, while acknowledging increased operating expenses and receivables due to expansion efforts. The overall sentiment is optimistic, driven by strong market positioning and future growth prospects in Saudi Arabia.Positive Updates
Record Revenue Growth
Q3 2024 marked the eighth consecutive quarter of record-setting revenue, with top-line revenue up 109% year-over-year to $14.7 million. Year-to-date revenue increased 100% to $38.9 million.
Negative Updates
Increase in Operating Expenses
Operating expenses rose to 18% of revenue due to investments in new office space, employee hiring, and training to support growth.
Read all updates
Q3-2024 Updates
Positive
Negative
Record Revenue Growth
Q3 2024 marked the eighth consecutive quarter of record-setting revenue, with top-line revenue up 109% year-over-year to $14.7 million. Year-to-date revenue increased 100% to $38.9 million.
Read all positive updates
Company Guidance
During the third quarter 2024 earnings call for NTG Clarity Networks Inc., several key financial metrics and guidance updates were highlighted. The company reported its eighth consecutive quarter of record-setting revenue, with a 109% increase to $14.7 million compared to the previous year, and a year-to-date revenue increase of 100% to $38.9 million. Net income also reached new heights, rising 303% to $2.1 million for the quarter and 272% year-to-date to $6.9 million. Additionally, NTG Clarity introduced adjusted EBITDA as a new metric, which grew by 140% to $3.2 million, resulting in a 22% adjusted EBITDA margin. A major highlight was a $53 million, three-year contract, contributing to a backlog of $83.5 million in work on hand. The company reaffirmed its full-year guidance of $55 million in revenue and a 14% net income margin for 2024, reflecting a recent increase from previous estimates. Despite the impressive growth, NTG Clarity emphasized continued investments in staffing and infrastructure to sustain its trajectory, particularly in the fast-growing Saudi Arabian market where 97% of its revenue is concentrated.NTG Clarity Networks Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
65
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 76.65M | 56.13M | 27.73M | 17.65M | 11.90M | 7.91M |
| Gross Profit | 27.41M | 20.85M | 8.80M | 6.72M | 6.59M | 2.23M |
| EBITDA | 12.79M | 12.07M | 2.52M | 2.00M | 1.81M | -1.32M |
| Net Income | 7.55M | 9.81M | 1.71M | 1.25M | 1.37M | -1.63M |
Balance Sheet | ||||||
| Total Assets | 44.23M | 28.29M | 12.39M | 8.17M | 6.49M | 3.17M |
| Cash, Cash Equivalents and Short-Term Investments | 6.58M | 4.95M | 358.09K | 725.02K | 158.87K | 145.22K |
| Total Debt | 5.55M | 6.75M | 8.80M | 7.96M | 7.87M | 8.45M |
| Total Liabilities | 17.26M | 15.69M | 15.63M | 14.94M | 14.41M | 15.71M |
| Stockholders Equity | 26.97M | 12.60M | -3.24M | -6.78M | -7.92M | -12.54M |
Cash Flow | ||||||
| Free Cash Flow | -6.19M | 1.61M | 1.17M | 1.06M | 253.14K | 952.73K |
| Operating Cash Flow | -4.70M | 2.57M | 1.86M | 2.49M | 1.80M | 1.83M |
| Investing Cash Flow | -1.31M | -825.49K | -2.50M | -1.43M | -1.55M | -880.31K |
| Financing Cash Flow | 7.24M | 2.84M | 275.06K | -496.65K | -239.50K | -838.57K |
NTG Clarity Networks Technical Analysis
Neutral
1.08
Price Trends
1.05
Negative
1.18
Negative
1.57
Negative
Market Momentum
-0.02
Negative
50.69
Neutral
75.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NCI, the sentiment is Neutral. The current price of 1.08 is above the 20-day moving average (MA) of 0.96, above the 50-day MA of 1.05, and below the 200-day MA of 1.57, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 50.69 is Neutral, neither overbought nor oversold. The STOCH value of 75.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:NCI.
NTG Clarity Networks Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | C$47.79M | 12.35 | 42.87% | ― | 62.61% | -10.60% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | C$53.80M | -18.90 | -393.78% | ― | -35.91% | 20.44% | |
46 Neutral | C$27.45M | -6.96 | 83.70% | ― | -59.22% | 83.08% | |
45 Neutral | C$61.56M | -40.30 | -139.78% | ― | -34.80% | -28.42% | |
43 Neutral | C$41.14M | -26.60 | -77.16% | ― | -10.57% | -117.50% |
* General Sector Average
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NTG Clarity Networks
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-34.21%
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NTG Clarity Networks Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
NTG Clarity Highlights Strong 2025 Growth and Expands Middle East Footprint for 2026
Positive
Jan 15, 2026
NTG Clarity reported that 2025 marked a pivotal year as the company scaled into larger contracts with major Saudi public and government-affiliated entities, drove net revenue retention to about 150% with minimal churn, increased its client base by...
Business Operations and Strategy
NTG Clarity Secures $11.8M in New Orders and Renewals
Positive
Dec 10, 2025
NTG Clarity Networks Inc. announced it has secured new purchase orders and contract renewals totaling approximately $11.8 million CAD. These include $11.4 million from existing customers for software development services and $442,000 from a new cu...
Financial Disclosures
NTG Clarity Networks to Release Q3 2025 Financial Results
Neutral
Nov 7, 2025
NTG Clarity Networks announced it will release its third-quarter financial results for 2025 on November 12, followed by an earnings call on November 13. This announcement is significant as it provides stakeholders with insights into the company...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.