Plurilock Security Inc (TSE:PLUR)
:PLUR
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Plurilock Security Inc
(PLUR)
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Rating:41Neutral
Price Target:
C$0.10
▼(-52.00% Downside)
Action:ReiteratedDate:04/24/26
The score is driven primarily by weak financial performance (declining revenue, low margins, ongoing losses, negative free cash flow, and negative shareholders’ equity). Technicals add further pressure with the stock trading below all key moving averages and a negative MACD. Valuation is constrained by a negative P/E (loss-making) and no dividend yield provided.
Positive Factors
Recurring + Services Revenue Mix
A hybrid model combining recurring software licenses/subscriptions with a services-led solutions business diversifies revenue and reduces single-source dependence. Services create implementation stickiness and cross-sell paths, while subscriptions provide predictable, durable revenue as customer identities and access needs persist.
Negative Factors
Negative Shareholders' Equity
A multiyear equity deficit constrains capital flexibility and signals prior losses have eroded net book value. Negative equity complicates financing options, can limit ability to win large government/enterprise contracts requiring strong balance sheets, and raises persistent solvency and governance concerns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring + Services Revenue Mix
A hybrid model combining recurring software licenses/subscriptions with a services-led solutions business diversifies revenue and reduces single-source dependence. Services create implementation stickiness and cross-sell paths, while subscriptions provide predictable, durable revenue as customer identities and access needs persist.
Read all positive factors
Plurilock Security Inc (PLUR) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$8.27M
Dividend YieldN/A
Average Volume (3M)117.37K
Price to Earnings (P/E)―
Beta (1Y)2.86
Revenue Growth3.73%
EPS Growth71.72%
CountryCA
Employees58
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)N/A
Shares Outstanding78,726,870
10 Day Avg. Volume159,855
30 Day Avg. Volume117,372
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)-3.66
Price to Sales (P/S)0.26
P/FCF Ratio-2.51
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 platfo...
How the Company Makes Money
Plurilock makes money primarily through (1) sales of cybersecurity and IT solutions and related services, and (2) licensing/subscription revenue from its own software products. A significant portion of revenue has historically come from its soluti...
Plurilock Security Inc Earnings Call Summary
Earnings Call Date:Nov 26, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Jun 01, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted strong growth and strategic successes, particularly in the expansion of critical services and professional services. However, there were notable financial challenges, including a decline in total revenue and increased cash usage, which tempered the positive achievements.Positive Updates
Significant Revenue Opportunity with S&P 500 Company
Over a seven-month period, Plurilock announced approximately $22 million in sales with a single S&P 500 client, including $7 million in cost savings and avoidance.
Negative Updates
Decline in Total Revenue
Total revenue for Q3 2024 was $14,328,564, a decrease from $20,000,867 in Q3 2023, due to the timing of large orders.
Read all updates
Q3-2024 Updates
Positive
Negative
Significant Revenue Opportunity with S&P 500 Company
Over a seven-month period, Plurilock announced approximately $22 million in sales with a single S&P 500 client, including $7 million in cost savings and avoidance.
Read all positive updates
Company Guidance
During the Plurilock Security's Q3 2024 earnings call, the executives provided detailed guidance on the company's financial performance and strategic direction. The company reported total revenue of $14.3 million for the quarter, with a year-to-date total of $38.5 million, demonstrating a decline compared to the previous year due to timing issues with large orders. Despite this, there was a notable increase in Professional Services revenue, which expanded by 40% year-over-year for the quarter. Plurilock emphasized its focus on higher-margin Critical Services, which accounted for a significant portion of its strategic shift, highlighting successful engagements, such as a $22 million deal with an S&P 500 company. The company's gross margin for Q3 was 6.8%, with a year-to-date margin of 14.2%, showing a year-over-year improvement. Adjusted EBITDA was reported as negative $2.1 million for the quarter. The executives also discussed their strategy to enhance profitability by focusing on high-margin sales and operational efficiency, expecting a stronger financial performance in Q4. However, they did not provide specific guidance for 2025 but reiterated the potential for increased revenue and gross margin compared to 2023.Plurilock Security Inc Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
18
Very Negative
Cash Flow
20
Very Negative
| Breakdown | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 60.99M | 59.12M | 70.42M | 64.63M | 36.62M |
| Gross Profit | 6.62M | 7.76M | 5.85M | 4.98M | 2.48M |
| EBITDA | -6.40M | -10.12M | -7.68M | -7.87M | -5.97M |
| Net Income | -7.26M | -11.53M | -9.09M | -8.45M | -6.28M |
Balance Sheet | |||||
| Total Assets | 25.26M | 34.47M | 27.14M | 23.61M | 18.48M |
| Cash, Cash Equivalents and Short-Term Investments | 4.87M | 1.40M | 1.92M | 2.71M | 9.47M |
| Total Debt | 2.74M | 2.75M | 5.88M | 6.68M | 201.72K |
| Total Liabilities | 29.54M | 39.61M | 31.47M | 20.81M | 11.55M |
| Stockholders Equity | -4.28M | -5.14M | -4.34M | 2.80M | 6.93M |
Cash Flow | |||||
| Free Cash Flow | -6.22M | -7.10M | -2.14M | -9.87M | -2.09M |
| Operating Cash Flow | -6.22M | -7.06M | -2.13M | -9.84M | -2.03M |
| Investing Cash Flow | 48.44K | -42.19K | -8.73K | -4.67M | -4.93K |
| Financing Cash Flow | 7.16M | 6.93M | 963.19K | 7.94M | 9.78M |
Plurilock Security Inc Technical Analysis
Negative
0.20
Price Trends
0.14
Negative
0.17
Negative
0.19
Negative
Market Momentum
>-0.01
Negative
49.56
Neutral
94.44
Negative
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 0.12, above the 50-day MA of 0.14, and above the 200-day MA of 0.19, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 49.56 is Neutral, neither overbought nor oversold. The STOCH value of 94.44 is Negative, 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | C$4.07B | 37.14 | 7.27% | ― | -4.13% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
47 Neutral | C$11.93M | -16.31 | -21.69% | ― | -27.64% | -2400.00% | |
46 Neutral | C$51.51M | -2.67 | 499.39% | ― | -24.80% | -131.99% | |
43 Neutral | C$44.56M | -10.77 | 247.94% | ― | -113.46% | -441.67% | |
42 Neutral | C$16.99M | -4.87 | -46.29% | ― | -18.57% | -325.88% | |
41 Neutral | C$8.27M | -2.15 | 286.87% | ― | 3.73% | 71.72% |
* Technology Sector Average
TSE:PLUR
Plurilock Security Inc
0.11
-0.15
-58.82%
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Plurilock Security Inc Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Plurilock Pays Debenture Interest in Shares to Preserve Cash
Neutral
Mar 31, 2026
Plurilock Security Inc., a Vancouver-based AI-native cybersecurity provider serving government and large enterprise clients, specializes in defending critical infrastructure and high-stakes systems through a blend of services, proprietary technolo...
Business Operations and Strategy
Plurilock Secures $445,000 U.S. Defense Software Renewal in Multi-Year Deal
Positive
Mar 24, 2026
Plurilock Security Inc., a Vancouver-based AI-driven cybersecurity systems integrator, specializes in critical infrastructure protection and operational resilience for government and large enterprise clients. Its offerings are delivered through a ...
Business Operations and Strategy
Plurilock to Bolster Cyber Defense Profile With Spring 2026 Conference Push
Positive
Mar 17, 2026
Plurilock Security Inc., a Vancouver-based AI-native cybersecurity services firm, specializes in defending critical infrastructure and safeguarding systems for government, defense, and large enterprise clients across high-stakes sectors. Its Criti...
Business Operations and Strategy
Plurilock to Boost Defense and Cybersecurity Profile with Spring 2026 Conference Push
Positive
Mar 17, 2026
Plurilock Security Inc. has announced plans to attend four major cybersecurity and defense conferences across North America in spring 2026, including RSA Conference 2026 in San Francisco, DEFSEC West 2026 in Calgary, the CCTX Annual Symposium in T...
Business Operations and StrategyFinancial Disclosures
Plurilock Targets Canadian Defense Cyber Boom as Critical Services Surge
Positive
Mar 10, 2026
Plurilock Security Inc. outlined its strategic positioning to capitalize on a major expansion in Canadian defense cybersecurity spending, supported by the federal government’s multiyear “Canada Strong” budget and new Defense Indu...
Business Operations and Strategy
Plurilock Extends $1.19 Million in Cybersecurity Contracts
Positive
Feb 4, 2026
Plurilock renewed four contracts worth $1.19 million with a commercial enterprise and a national security-focused government agency, expanding its embedded role in insider risk, SIEM operations, executive communications, and sustaining its trusted...
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.