Therma Bright (TSE:THRM)
:THRM
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Therma Bright
(THRM)
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Rating:47Neutral
Price Target:
C$0.06
▼(-5.00% Downside)
Action:Reiterated
Date:04/08/26
The score is held down primarily by weak financial performance (ongoing large losses, negative equity, and continued cash burn). Technical indicators provide a modest offset with improving momentum above shorter-term moving averages, while valuation is constrained by negative earnings and no dividend support.
Positive Factors
Low reported debt
Very low absolute debt (~$40k TTM) reduces near-term leverage and default risk, providing structural breathing room. This durable benefit improves short-term solvency and gives management time to execute commercialization or cost actions without immediate pressure from lenders, supporting continuity.
Negative Factors
Negative shareholders' equity
Equity turned meaningfully negative in 2025 and remains negative in the TTM, reflecting accumulated losses. Persistent negative equity limits financial flexibility, complicates capital raises, may deter partners or suppliers, and represents a structural solvency concern that can hinder long-term strategic options.
Read all positive and negative factors
Positive Factors
Negative Factors
Low reported debt
Very low absolute debt (~$40k TTM) reduces near-term leverage and default risk, providing structural breathing room. This durable benefit improves short-term solvency and gives management time to execute commercialization or cost actions without immediate pressure from lenders, supporting continuity.
Read all positive factors
Therma Bright (THRM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.36M
Dividend YieldN/A
Average Volume (3M)50.06K
Price to Earnings (P/E)―
Beta (1Y)0.47
Revenue Growth53.91%
EPS Growth3.81%
CountryCA
EmployeesN/A
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.07
Shares Outstanding58,002,876
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
Therma Bright Inc. engages in the development and sale of rapid COVID testing products, medical devices for pain management, devices to improve circulation, and devices for the cosmeceutical industry. The company's products include AcuVid, an anti...
How the Company Makes Money
Revenue is generated primarily through the sale and distribution of the company’s healthcare and medical device products (including any diagnostic test products it commercializes) to customers through applicable sales channels (e.g., direct sales ...
Therma Bright Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 67.45K | 80.27K | 26.07K | 23.90K | 139.43K | 3.88K |
| Gross Profit | 14.91K | -36.93K | 25.46K | 23.90K | 63.48K | 3.88K |
| EBITDA | -3.91M | -4.25M | -2.34M | -3.68M | -5.83M | -8.55M |
| Net Income | -3.97M | -4.34M | -2.45M | -3.77M | -5.88M | -8.61M |
Balance Sheet | ||||||
| Total Assets | 246.60K | 248.69K | 3.19M | 2.21M | 4.00M | 2.24M |
| Cash, Cash Equivalents and Short-Term Investments | 36.19K | 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 | 2.08M | 1.81M | 1.87M | 2.16M | 1.25M | 927.12K |
| Stockholders Equity | -1.83M | -1.57M | 1.32M | 44.79K | 2.75M | 1.32M |
Cash Flow | ||||||
| Free Cash Flow | -126.38K | -146.53K | -1.01M | -2.44M | -3.80M | -3.16M |
| Operating Cash Flow | -164.53K | -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 | 168.43K | 146.90K | 966.40K | -33.60K | 5.31M | 3.87M |
Therma Bright Technical Analysis
Negative
0.06
Price Trends
0.06
Negative
0.06
Negative
0.07
Negative
Market Momentum
>-0.01
Positive
49.08
Neutral
21.11
Neutral
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 0.06 is above the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.06, and below the 200-day MA of 0.07, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 49.08 is Neutral, neither overbought nor oversold. The STOCH value of 21.11 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
54 Neutral | C$345.57M | -11.64 | -72.79% | ― | 57.39% | -2.20% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | C$38.46M | -5.70 | -258.64% | ― | 176.72% | 30.90% | |
47 Neutral | C$3.36M | -3.15 | -9999.00% | ― | 53.91% | 3.81% | |
46 Neutral | C$275.99K | 0.24 | 4.41% | ― | -31.81% | -28.35% | |
42 Neutral | C$59.12M | -10.14 | -314.74% | ― | -20.99% | 9.39% |
* Healthcare Sector Average
TSE:THRM
Therma Bright
0.06
-0.06
-51.67%
TSE:IME
Imagin Medical
0.02
0.00
0.00%
TSE:PINK
Perimeter Medical Imaging AI
0.31
-0.14
-30.68%
TSE:PRN
Profound Medical
9.51
2.55
36.64%
TSE:TLT
Theralase Technologies
0.23
0.05
27.78%
TSE:ASTI
Aquarius Surgical Technologies
0.01
-0.02
-60.00%
Therma Bright Corporate Events
Business Operations and StrategyProduct-Related Announcements
Therma Bright Wins Horizon Health Order and Targets Cosmetic Wellness Expansion
Positive
Mar 31, 2026
Therma Bright has secured a strategic commercial order from Horizon Health for an initial 100 Venowave mobile compression units, following a 2025 proof-of-concept that refined its U.S. delivery and support capabilities. Horizon Health, a major dur...
Business Operations and Strategy
Therma Bright Grants 2.85 Million Stock Options to Insiders
Positive
Mar 14, 2026
Therma Bright Inc., a Toronto-based developer and investment partner in advanced diagnostic and medical device technologies, offers products in vascular health, respiratory diagnostics and topical treatments. The company is publicly traded on the ...
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.