Plurilock Security Inc (PLUR) AI Stock Analysis

• Market Cap: C$14.17M
• Dividend Yield: N/A
• Average Volume (3M): 117.37K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.89
• Revenue Growth: 17.18%
• EPS Growth: 79.56%
• Country: CA
• Employees: 58
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): -0.01
• Shares Outstanding: 78,726,870
• 10 Day Avg. Volume: 159,855
• 30 Day Avg. Volume: 117,372
• PEG Ratio: 0.02
• Price to Book (P/B): -3.29
• Price to Sales (P/S): 0.29
• P/FCF Ratio: -2.38
• 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: 45 Neutral
• Price Target: C$0.18 ▼(-12.00% Downside)

The score is held down primarily by weak financial performance (ongoing losses, negative equity, and continued cash burn), which outweighs the benefit of the strong TTM revenue rebound and reduced debt. Technicals are relatively neutral with mild oversold indications, offering some near-term stabilization, while valuation provides limited support due to negative earnings and no dividend data.

Positive Factors

Revenue Growth

The company is experiencing positive revenue growth, indicating increasing demand for its cybersecurity solutions, which is a positive sign for long-term business expansion.

Market Position

Plurilock's focus on cybersecurity, particularly in identity verification, positions it well in a growing industry with increasing demand for security solutions.

Business Model

The subscription-based revenue model provides predictable and recurring revenue streams, supporting long-term financial stability and customer retention.

Negative Factors

Net Losses

Persistent net losses indicate ongoing profitability challenges, which could hinder the company's ability to invest in growth and innovation.

Negative Equity

Negative equity suggests financial instability, increasing the risk of insolvency and limiting access to capital markets for future funding.

Cash Flow Challenges

Negative cash flow indicates liquidity issues, which could impact the company's ability to sustain operations and meet financial obligations without external financing.

Plurilock Security Inc Business Overview & Revenue Model

Company Description

Plurilock Security Inc. operates an identity-centric cybersecurity company in the United States and Canada. It operates in two divisions, Technology and Solutions. The company offers Plurilock DEFEND, an enterprise continuous authentication platform that confirms user identity or alerts security teams to detected intrusions in real time; and Plurilock ADAPT, a standards-based login MFA platform, which provides added login security without relying on fingerprint scans, SMS codes, authenticator apps, hardware tokens, or other intrusive legacy MFA requirements. It also offers services and resells IT and cybersecurity industry products and technologies. The company serves financial services, healthcare, critical infrastructure, and government and military industries. Plurilock Security Inc. is headquartered in Vancouver, Canada.

How the Company Makes Money

Plurilock generates revenue through a subscription-based model for its software solutions, offering various tiers of service that cater to different organizational needs. Key revenue streams include licensing fees for its identity verification and authentication solutions, professional services for implementation and integration, and ongoing support and maintenance contracts. Additionally, the company may benefit from partnerships with other technology firms, government contracts, and sales to sectors that are heavily regulated, such as finance and healthcare, which require stringent security measures.

Plurilock Security Inc Financial Statement Overview

Summary

Despite a sharp TTM revenue rebound (+151%), fundamentals remain weak: low gross margin (~11%), meaningfully negative EBIT/EBITDA margins (~-13%), continued net losses, negative stockholders’ equity, and persistently negative operating and free cash flow (cash burn improving but still negative). Reduced debt is a positive, but balance-sheet and cash-flow risk remain elevated.

Income Statement

TTM (Trailing-Twelve-Months) revenue rebounded sharply (+151% growth) versus the 2024 annual decline, showing improved top-line momentum. However, profitability remains weak: gross margin is low (~11%) and operating results are meaningfully negative (EBIT and EBITDA margins around -13%), with continued net losses. Overall, growth has improved, but the business has not yet demonstrated a sustainable path to profits.

Balance Sheet

The balance sheet is pressured by negative stockholders’ equity in TTM (Trailing-Twelve-Months) and 2024, which reduces financial flexibility and increases balance-sheet risk. Total debt has come down materially from 2022–2023 levels, which is a positive step, but the negative equity position remains a key weakness. Total assets also declined from 2024 to TTM, suggesting a smaller capital base to absorb ongoing losses.

Cash Flow

Cash generation is the weakest area: operating cash flow and free cash flow are negative across all periods, including TTM (Trailing-Twelve-Months). While the cash burn improved versus 2024 (less negative operating and free cash flow), free cash flow deterioration on a growth basis in TTM highlights ongoing volatility. Continued negative cash flow means the company may remain dependent on external funding if losses persist.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	71.42M	59.12M	70.42M	64.63M	36.62M	479.33K
Gross Profit	7.89M	7.76M	5.85M	4.98M	2.48M	400.79K
EBITDA	-9.19M	-10.12M	-7.68M	-7.87M	-5.97M	-4.54M
Net Income	-8.70M	-11.53M	-9.09M	-8.45M	-6.28M	-4.60M
Balance Sheet
Total Assets	22.36M	34.47M	27.14M	23.61M	18.48M	2.23M
Cash, Cash Equivalents and Short-Term Investments	3.16M	1.40M	1.92M	2.71M	9.47M	1.72M
Total Debt	1.40M	2.75M	5.88M	6.68M	201.72K	46.86K
Total Liabilities	25.87M	39.61M	31.47M	20.81M	11.55M	551.17K
Stockholders Equity	-3.51M	-5.14M	-4.34M	2.80M	6.93M	1.68M
Cash Flow
Free Cash Flow	-5.72M	-7.10M	-2.14M	-9.87M	-2.09M	-1.85M
Operating Cash Flow	-5.81M	-7.06M	-2.13M	-9.84M	-2.03M	-1.82M
Investing Cash Flow	-1.46K	-42.19K	-8.73K	-4.67M	-4.93K	-28.05K
Financing Cash Flow	4.25M	6.93M	963.19K	7.94M	9.78M	3.44M

Plurilock Security Inc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.20
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PLUR, the sentiment is Negative. The current price of 0.2 is above the 20-day moving average (MA) of 0.19, above the 50-day MA of 0.20, and below the 200-day MA of 0.21, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 36.42 is Neutral, neither overbought nor oversold. The STOCH value of 13.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:PLUR.

Plurilock Security Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BB	65 Neutral	C$2.86B	197.15	2.88%	―	-9.05%	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
NBVA	47 Neutral	C$10.53M	-11.19	-24.65%	―	-69.94%	-281.40%
CTRL	47 Neutral	C$42.36M	-4.14	―	―	-24.81%	-131.85%
ICS	46 Neutral	C$104.71M	―	―	―	―	―
PLUR	45 Neutral	C$14.17M	-1.43	―	―	17.18%	79.56%
NOW	45 Neutral	C$26.72M	-14.51	-72.87%	―	-5.76%	43.07%

Plurilock Security Inc Corporate Events

Plurilock Pays Debenture Interest in Shares to Preserve Cash

Plurilock Security Inc. has issued 312,188 common shares at a price of $0.2042 per share to satisfy $63,750 in interest owed on its outstanding 10% unsecured convertible debentures, comprising September 2022 and October 2025 issuances totaling $3.275 million in principal. The move effectively preserves cash by using equity to meet debt-servicing obligations, underscoring the company’s reliance on capital markets as it continues to position itself as a key cybersecurity integrator for government and large enterprise clients.

The most recent analyst rating on (TSE:PLUR) stock is a Hold with a C$0.20 price target. To see the full list of analyst forecasts on Plurilock Security Inc stock, see the TSE:PLUR Stock Forecast page.

Plurilock Secures $2.4 Million Cybersecurity Licensing Agreement with Global Semiconductor Leader

Plurilock Security Inc. has secured a $2.4 million two-year licensing agreement with a Nasdaq-listed semiconductor manufacturer to provide advanced insider-risk software through a strategic partner. This deal solidifies Plurilock’s position as a trusted cybersecurity provider for global enterprises while enhancing the client’s engineering and supply-chain security infrastructure.

The most recent analyst rating on (TSE:PLUR) stock is a Hold with a C$0.20 price target. To see the full list of analyst forecasts on Plurilock Security Inc stock, see the TSE:PLUR Stock Forecast page.

Plurilock Security Inc. Appoints Veera Singh as New CFO

Plurilock Security Inc. has announced the promotion of Veera Singh to the position of Chief Financial Officer, effective January 9, 2026. Singh, who has been with the company for over four years, has played a significant role in the company’s growth and operational maturity. Her promotion reflects Plurilock’s commitment to nurturing internal talent and strengthening its finance organization as it expands in commercial and defense markets. The outgoing CFO, Scott Meyers, will leave the company to pursue other opportunities, with Plurilock ensuring no disruption to its operations or strategic initiatives.

Plurilock Secures $1.2 Million Contract, Expands Services with Semiconductor Manufacturer

Plurilock Security Inc. has secured a $1.2 million contract with a Nasdaq-listed semiconductor manufacturer, expanding its long-standing relationship. The contract includes a one-year licensing renewal for Data Loss Prevention and an eight-month professional services engagement for Security Operations Support, reinforcing Plurilock’s land-and-expand strategy and its role as a strategic cybersecurity partner in high-risk sectors.

Plurilock Security Inc. Reports Strong Q3 2025 Financial Performance

Plurilock Security Inc. reported a significant 165% increase in critical services revenue year-over-year for Q3 2025, alongside an 11.5% improvement in adjusted EBITDA loss. The company’s financial results reflect a strategic shift towards professional services, which now account for a larger portion of total revenue, offsetting declines in hardware and systems sales. Recent operational highlights include a strategic investment, new leadership appointments, and significant contract wins, positioning Plurilock for continued growth and enhanced market presence in the cybersecurity industry.

Plurilock to Announce Q3 2025 Financial Results and Host Webinar

Plurilock Security Inc. has announced that it will release its third quarter 2025 financial results on November 26, 2025, with a subsequent webinar hosted by its CEO and CFO on November 27, 2025. This announcement is significant as it provides stakeholders, including shareholders and analysts, an opportunity to gain insights into the company’s financial performance and strategic updates, potentially impacting its market positioning and stakeholder engagement.

Plurilock Secures $868,600 in Cybersecurity Contracts with Semiconductor Manufacturer

Plurilock Security Inc. has secured follow-on contracts worth US$868,600 with a NASDAQ-listed semiconductor manufacturer to provide Security Operations Center services. These contracts enhance Plurilock’s role as a trusted cybersecurity partner and expand its presence in the semiconductor and high-tech manufacturing sectors, which are vulnerable to cyber threats. The agreements highlight Plurilock’s successful land-and-expand strategy, leveraging integrated technology partnerships to deliver improved security outcomes and foster long-term client relationships.

Plurilock Secures $624K Contract with Major U.S. Law Enforcement Agency

Plurilock Security Inc. has secured a US$624,000 contract to provide software and services to a major U.S. state law enforcement agency, marking a significant step in its ongoing relationship with the agency. This deal underscores Plurilock’s role in supporting the agency’s cybersecurity modernization efforts, potentially setting the stage for future collaborations and enhancing its position in the public safety sector.