Want to see TSE:THRM full AI Analyst Report?
Top Page
Therma Bright
(THRM)
Select Model
Select Model
Rating:45Neutral
Price Target:
C$0.05
▲(8.00% Upside)
Action:Reiterated
Date:07/24/26
The score is primarily held back by weak financial performance (ongoing large losses, negative cash flow, and negative equity) despite improving revenue and gross margin. Technical indicators also point to weak momentum and a downward longer-term trend. Valuation provides limited support because the company is loss-making (negative P/E) and no dividend yield is available.
Positive Factors
Revenue rebound & gross margin
Sustained revenue recovery and a materially improved gross margin indicate improving product-market fit and better unit economics. Higher gross margin supports operating leverage as sales scale, offering a durable path to margin expansion if revenue growth continues without proportional cost increases.
Negative Factors
Large net losses & negative equity
Cumulative losses have eroded the capital base, leaving shareholders' equity negative. This structural weakness constrains financing options, increases reliance on dilutive equity or external funding, and raises long-term solvency and governance risks absent a sustained return to profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound & gross margin
Sustained revenue recovery and a materially improved gross margin indicate improving product-market fit and better unit economics. Higher gross margin supports operating leverage as sales scale, offering a durable path to margin expansion if revenue growth continues without proportional cost increases.
Read all positive factors
Therma Bright (THRM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.06M
Dividend YieldN/A
Average Volume (3M)50.06K
Price to Earnings (P/E)―
Beta (1Y)0.68
Revenue Growth233.67%
EPS Growth-3.63%
CountryCA
Employees5
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.07
Shares Outstanding61,246,628
10 Day Avg. Volume51,225
30 Day Avg. Volume50,057
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-2.51
Price to Sales (P/S)48.92
P/FCF Ratio-26.80
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
Therma Bright Business Overview & Revenue Model
Company Description
Established in Toronto, Canada, in 2001 as The Jenex Corporation before rebranding to Therma Bright Inc. in February 2018, Therma Bright Inc. specializes in creating and distributing various medical and consumer health products. Their diverse offe...
How the Company Makes Money
Therma Bright makes money primarily by selling its medical and screening products and related solutions to customers (e.g., through direct sales and distribution channels). Reported revenue is generally tied to (1) product sales (hardware such as ...
Therma Bright Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
24
Negative
| Breakdown | TTM | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 135.82K | 80.27K | 26.07K | 23.90K | 139.43K | 3.88K |
| Gross Profit | 66.60K | -36.93K | 25.46K | 23.90K | 63.48K | 3.88K |
| EBITDA | -3.98M | -4.25M | -2.34M | -3.68M | -5.83M | -8.55M |
| Net Income | -4.01M | -4.34M | -2.45M | -3.77M | -5.88M | -8.61M |
Balance Sheet | ||||||
| Total Assets | 217.95K | 248.69K | 3.19M | 2.21M | 4.00M | 2.24M |
| Cash, Cash Equivalents and Short-Term Investments | 25.13K | 38.07K | 1.10K | 182.24K | 3.08M | 1.78M |
| Total Debt | 40.00K | 40.00K | 65.39K | 90.39K | 110.55K | 40.00K |
| Total Liabilities | 2.15M | 1.81M | 1.87M | 2.16M | 1.25M | 927.12K |
| Stockholders Equity | -1.93M | -1.57M | 1.32M | 44.79K | 2.75M | 1.32M |
Cash Flow | ||||||
| Free Cash Flow | -217.40K | -146.53K | -1.01M | -2.44M | -3.80M | -3.16M |
| Operating Cash Flow | -217.40K | -146.53K | -1.01M | -2.17M | -3.80M | -2.86M |
| Investing Cash Flow | 0.00 | 0.00 | -138.26K | -691.08K | -204.93K | -300.00K |
| Financing Cash Flow | 176.82K | 146.90K | 966.40K | -33.60K | 5.31M | 3.87M |
Therma Bright Technical Analysis
Negative
0.05
Price Trends
0.05
Negative
0.06
Negative
0.06
Negative
Market Momentum
>-0.01
Positive
46.16
Neutral
11.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:THRM, the sentiment is Negative. The current price of 0.05 is below the 20-day moving average (MA) of 0.05, below the 50-day MA of 0.05, and below the 200-day MA of 0.06, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 46.16 is Neutral, neither overbought nor oversold. The STOCH value of 11.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:THRM.
Therma Bright Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | C$377.18M | -5.97 | -78.75% | ― | 57.39% | -2.20% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | C$275.99K | -0.24 | 20.09% | ― | 0.26% | 44.21% | |
45 Neutral | C$3.06M | -0.73 | -9999.00% | ― | 233.67% | -3.63% | |
43 Neutral | C$43.66M | -1.84 | -300.54% | ― | 62.49% | 48.83% | |
42 Neutral | C$84.27M | -19.93 | -241.53% | ― | -9.60% | 22.16% |
* Healthcare Sector Average
TSE:THRM
Therma Bright
0.05
-0.02
-28.57%
TSE:PINK
Perimeter Medical Imaging AI
0.29
0.03
13.73%
TSE:PRN
Profound Medical
11.10
3.37
43.60%
TSE:TLT
Theralase Technologies
0.26
0.04
18.18%
TSE:ASTI
Aquarius Surgical Technologies
0.01
>-0.01
-33.33%
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.