nDatalyze Corp (NDAT) AI Stock Analysis

• Market Cap: C$7.03M
• Dividend Yield: N/A
• Average Volume (3M): 0.00
• Price to Earnings (P/E): ―
• Beta (1Y): -0.62
• Revenue Growth: -100.00%
• EPS Growth: 65.85%
• Country: CA
• Employees: N/A
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Information Services
• EPS (TTM): >-0.01
• Shares Outstanding: 41,327,423
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 0
• PEG Ratio: 0.43
• Price to Book (P/B): 6.95
• Price to Sales (P/S): 60.55
• P/FCF Ratio: -26.32
• 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: C$0.17 ▲(735.00% Upside)
• Action: Reiterated Date: 03/14/26
• Date: Action: Reiterated 03/14/26

The score is held down primarily by severe revenue contraction, ongoing losses, and sustained negative free cash flow (despite being debt-free). Technicals provide some support due to strong upward momentum, but the very overbought RSI raises near-term risk. Valuation is not supportive because earnings are negative and no dividend yield is provided.

Positive Factors

Debt-free balance sheet

The company reports no debt across reported periods, materially lowering solvency and interest-cost risk. A debt-free balance sheet preserves strategic optionality—management can pursue restructuring, product investment or M&A with less immediate refinancing pressure while seeking a revenue recovery.

High gross margin (2025)

An unusually high gross margin (~91% in 2025) indicates the core offering has low incremental costs. If revenue is restored, these structural margins provide strong operating leverage: incremental sales could convert quickly to improved EBITDA and cash generation, accelerating path to sustainable profitability.

Historic cash-generation ability

Prior positive operating and free cash flow in 2020–2021 demonstrates the model can be cash-generative under the right conditions. This historical cash-conversion ability suggests management can potentially restore self-funding via higher revenue or efficiency, reducing long-term reliance on external capital.

Negative Factors

Severe revenue collapse

Top-line fell nearly to zero from 2021 to 2025, reflecting a structural loss of demand or product-market fit. Such a dramatic revenue collapse undermines scale economics, makes customer retention and go-to-market rebuilding costly, and creates a high barrier to restoring recurring, durable revenue streams.

Persistent negative cash flow

Sustained negative operating and free cash flow through 2025 (FCF -466,136) erodes runway and forces reliance on external funding. Persistent cash burn constrains investment in product, sales and compliance, increases dilution or leverage risk, and limits the company’s ability to execute medium-term recovery plans.

Erosion of equity from losses

Equity has fallen substantially due to ongoing losses, shrinking the capital buffer available for shocks or strategic reinvestment. A diminished equity base reduces financial flexibility, weakens creditworthiness and narrows options for non-dilutive financing, making multi-quarter recovery more difficult.

nDatalyze Corp Business Overview & Revenue Model

Company Description

nDatalyze Corp (NDAT) is a technology-driven company operating in the healthcare sector. It focuses on developing innovative mental health diagnostic tools and platforms leveraging artificial intelligence and machine learning technologies. The company's core product, the YMI (Your Mental Insight) platform, aims to provide predictive insights and personalized mental health assessments to enhance mental healthcare delivery.

How the Company Makes Money

nDatalyze Corp Financial Statement Overview

Summary

Very weak fundamentals: revenue collapsed dramatically over time, the company remains deeply unprofitable, and operating/free cash flow are persistently negative (notably large cash burn in 2025). The main offset is a debt-free balance sheet, but equity has eroded materially due to ongoing losses.

Income Statement

Revenue has collapsed over time (from 662,768 in 2021 to 1,714 in 2025), and profitability has deteriorated sharply. While 2025 shows an unusually high gross margin (~91%), the company is deeply unprofitable with extremely negative operating and net margins, indicating the cost structure is not supported by the current revenue base. Losses improved versus 2023 in absolute terms, but the business remains far from breakeven and top-line momentum is the primary weakness.

Balance Sheet

The balance sheet is conservatively levered with no debt across all reported periods, which meaningfully reduces financial risk. However, equity has declined from 1,629,305 (2022) to 536,163 (2025), reflecting ongoing losses and erosion of the capital base. Returns on equity are consistently negative, so despite low leverage, the key weakness is the company’s inability to generate profits on its equity.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative in 2022–2025, including -466,136 of free cash flow in 2025. The business briefly generated positive operating/free cash flow in 2020–2021, but the trend reversed meaningfully, suggesting rising cash burn and reduced self-funding capacity. Free cash flow tracks net income closely (ratios near ~1), but both are negative—highlighting that losses are translating into cash outflows.

Breakdown	TTM	May 2024	May 2023	May 2022	Feb 2021	Feb 2020
Income Statement
Total Revenue	887.00	1.71K	96.34K	171.22K	424.93K	662.77K
Gross Profit	-207.00	1.55K	67.39K	44.84K	229.98K	376.73K
EBITDA	-385.56K	-636.00K	-429.24K	-1.23M	-1.17M	-688.51K
Net Income	-387.41K	-554.48K	-155.60K	-1.23M	-1.17M	-698.53K
Balance Sheet
Total Assets	525.52K	560.64K	877.91K	862.01K	1.71M	872.95K
Cash, Cash Equivalents and Short-Term Investments	499.07K	522.96K	794.10K	742.74K	1.60M	781.39K
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	23.34K	24.48K	38.26K	289.27K	81.42K	71.87K
Stockholders Equity	502.18K	536.16K	839.65K	572.74K	1.63M	801.08K
Cash Flow
Free Cash Flow	-351.19K	-466.14K	-221.64K	-1.03M	-1.14M	18.90K
Operating Cash Flow	-351.19K	-466.14K	-217.46K	-1.02M	-1.13M	20.75K
Investing Cash Flow	0.00	0.00	-4.17K	-4.39K	-13.85K	-1.84K
Financing Cash Flow	0.00	194.99K	273.00K	175.54K	1.95M	168.00K

nDatalyze Corp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.02
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NDAT, the sentiment is Positive. The current price of 0.02 is below the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.03, and below the 200-day MA of 0.02, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 94.56 is Negative, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NDAT.

nDatalyze Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VHI	68 Neutral	C$494.47M	-185.55	1.45%	―	59.34%	-23.48%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
AIDR	48 Neutral	C$56.08M	-2.31	-207.53%	―	―	7.04%
NDAT	46 Neutral	C$7.03M	-4.56	-34.06%	―	-100.00%	65.85%
ADK	45 Neutral	C$35.52M	-9.48	3086.87%	―	-48.53%	-9.66%
UDOC	45 Neutral	C$11.66M	-5.12	6239.15%	―	―	48.94%

nDatalyze Corp Corporate Events

nDatalyze Details Financing and Share Structure for PRISM Reverse Takeover

nDatalyze Corp. has updated the terms and timeline of its proposed reverse takeover of PRISM Diversified Ltd., with the Definitive Agreement now expected by March 31, 2026. The deal is designed to create a resulting issuer heavily weighted toward PRISM’s mine-to-metals business, while existing nDatalyze shareholders retain a defined equity stake.

The transaction structure contemplates a minimum $2 million in financing, including a $400,000 private placement by PRISM at $0.10 per share and a $1.6 million subscription receipt offering to be led by nDatalyze. Upon closing, nDatalyze’s 41,327,425 shares will convert into 15,555,555 shares of the resulting issuer, with total post-closing shares projected at 162,560,555 and all of nDatalyze’s operating assets, except $30,000 in cash, spun out to current shareholders.

Subscription receipts will only convert into shares if the reverse takeover closes, aligning investor exposure with successful completion of the deal. The RTO remains subject to Canadian Securities Exchange approval and PRISM shareholder approval, and any additional financing above $2 million must be priced at a minimum of $0.10 per share without further diluting nDatalyze shareholders’ fixed allocation.

The most recent analyst rating on (TSE:NDAT) stock is a Hold with a C$0.05 price target. To see the full list of analyst forecasts on nDatalyze Corp stock, see the TSE:NDAT Stock Forecast page.

nDatalyze Plans Reverse Takeover by Alberta Mine-to-Metals Producer PRISM

nDatalyze Corp. has signed a non-binding memorandum of understanding with PRISM Diversified Ltd., an Alberta-based mine-to-metals producer, in a deal expected to result in a change of business and reverse takeover, pending regulatory and shareholder approval. The contemplated structure would see nDatalyze conduct a $1.6 million subscription receipt financing arranged by PRISM, spin out all of its current assets to pre-MOU shareholders, and leave those shareholders with a 10% stake in the post-financing resulting issuer.

The MOU also outlines that PRISM may use its own professional advisors for the reverse takeover and will cover related expenses if company advisors are used, while a bilateral break fee mechanism requires whichever party terminates to cover the other’s incurred costs plus $50,000. If completed, the transaction would effectively pivot nDatalyze’s public listing into a vehicle for PRISM’s low-emissions steel and critical minerals strategy, reshaping ownership and strategic direction for existing shareholders and positioning the combined entity within the energy-transition-focused mining sector.

The most recent analyst rating on (TSE:NDAT) stock is a Hold with a C$0.02 price target. To see the full list of analyst forecasts on nDatalyze Corp stock, see the TSE:NDAT Stock Forecast page.

nDatalyze Ends FoodCo RTO, Refocuses on Hockey Analytics App and CSE Listing

nDatalyze Corp. has terminated its proposed reverse takeover transaction with a Vancouver-based private company referred to as FoodCo, citing ongoing delays and FoodCo’s default on certain terms of their binding memorandum of understanding signed in August 2025. The company said it will continue to commercialize its Epitome hockey-focused predictive performance app, seek alternative reverse takeover candidates, and intends to apply for reinstatement of trading of its shares on the Canadian Securities Exchange, a move that may help stabilize its capital markets profile and preserve strategic flexibility following the collapse of the FoodCo deal.

The most recent analyst rating on (TSE:NDAT) stock is a Sell with a C$0.01 price target. To see the full list of analyst forecasts on nDatalyze Corp stock, see the TSE:NDAT Stock Forecast page.