UniDoc Health Corp (UDOC) AI Stock Analysis

• Market Cap: C$9.07M
• Dividend Yield: N/A
• Average Volume (3M): 67.00K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.18
• Revenue Growth: N/A
• EPS Growth: 48.94%
• Country: CA
• Employees: N/A
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Information Services
• EPS (TTM): >-0.01
• Shares Outstanding: 86,350,090
• 10 Day Avg. Volume: 18,137
• 30 Day Avg. Volume: 67,001
• PEG Ratio: -0.02
• Price to Book (P/B): 28.14
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.44
• 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$0.12 ▼(-16.43% Downside)
• Action: Reiterated Date: 03/15/26
• Date: Action: Reiterated 03/15/26

The score is primarily constrained by weak financial performance—large losses, significant cash burn, and negative equity—despite strong recent revenue growth. Technicals are mixed (neutral momentum but still below key longer-term moving averages), and valuation is difficult to support with a negative P/E and no dividend yield provided.

Positive Factors

Revenue Growth

Sustained TTM revenue growth of ~52% indicates the company is gaining commercial traction for its telehealth offerings. Over 2-6 months this growth supports scale economics, customer adoption momentum and provides a foundation to leverage fixed costs toward future margin expansion if sustained.

Low Absolute Debt

Very low absolute debt reduces near-term solvency and interest-service risk, preserving flexibility to invest in sales, R&D or absorb losses. For a capital-raising dependent early-stage health tech, low debt limits refinancing pressure and supports strategic optionality.

Integrated Telehealth Platform

An integrated device-plus-software product (H3 Health Cubes) aligns with structural shifts toward virtual care. This bundled model can create differentiation and higher switching costs versus point solutions, enabling recurring software/services revenue and longer-term customer relationships.

Negative Factors

Negative Equity

Negative equity reflects accumulated losses and potential dilution risk from future capital raises. This structural balance-sheet impairment constrains financial flexibility, increases dependence on external financing, and can limit strategic options over the medium term.

Cash Burn

Consistent negative operating and free cash flow indicate the business is consuming cash faster than it generates it, shortening runway absent financing. Persistent cash burn forces recurring capital raises, which can dilute shareholders and divert management focus away from long-term execution.

Low Margins & Losses

Modest gross margin and deeply negative operating/net margins show the current revenue base cannot cover fixed and operating costs. Without meaningful margin improvement or outsized revenue scale, profitability remains structurally challenged and the model may require reengineering.

UniDoc Health Corp Business Overview & Revenue Model

Company Description

UniDoc Health Corp. operates as a virtual health/telemedicine solutions company in Canada. It offers Virtual Health Clinics, a customizable solution that offers safe and secure ways to connect patients in urban, rural, and remote locations with medical care, as well as delivers rapid and real-time diagnostic testing, and supplies therapeutic treatment with continued health monitoring. The company was formerly known as Unicheck Holdings Corp. and changed its name to UniDoc Health Corp. in April 2021. UniDoc Health Corp. was incorporated in 2021 and is based in Vancouver, Canada.

How the Company Makes Money

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UniDoc Health Corp Financial Statement Overview

Summary

Despite strong TTM revenue growth (+52.0%), profitability and cash generation are very weak: deeply negative operating results and materially negative operating/free cash flow (~-$3.0M/~-$3.3M). The balance sheet also shows pressure with negative equity, indicating constrained financial flexibility even with low absolute debt.

Income Statement

TTM (Trailing-Twelve-Months) revenue is positive and shows strong growth (+52.0%), but profitability remains very weak. Gross margin is modest (~17.7%), while operating results are deeply negative (EBIT and EBITDA margins roughly -4x revenue) and net margin is highly negative, indicating the current cost structure is far larger than the revenue base. Annual periods show little to no revenue, reinforcing that the business is still in an early commercialization phase and earnings quality is not yet established.

Balance Sheet

Debt levels are low in absolute terms (TTM total debt ~$37k), which limits traditional leverage risk, but the balance sheet shows instability via negative equity in TTM (about -$27.8k). Equity has also swung materially across years (positive in some annual periods, negative in others), suggesting dilution/accumulated losses and potential capital-raising dependence. With negative equity, leverage ratios are less meaningful and financial flexibility is constrained despite low debt.

Cash Flow

Cash generation is a key weakness: TTM operating cash flow (~-$3.0M) and free cash flow (~-$3.3M) are both significantly negative, and free cash flow declined versus the prior period (about -29.8% growth). Cash burn is broadly consistent with reported losses (free cash flow is ~1.11x net loss in TTM), indicating losses are translating into real cash outflows rather than being offset by working-capital benefits.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2022	Mar 2021
Income Statement
Total Revenue	697.06K	0.00	0.00	0.00	0.00
Gross Profit	123.10K	-37.57K	-68.26K	-64.22K	0.00
EBITDA	-2.87M	-5.93M	-2.18M	-1.28M	-237.32K
Net Income	-3.12M	-6.06M	-2.26M	-1.36M	-237.32K
Balance Sheet
Total Assets	2.30M	2.91M	517.08K	320.47K	288.40K
Cash, Cash Equivalents and Short-Term Investments	637.80K	1.25M	398.88K	51.32K	281.84K
Total Debt	37.18K	68.68K	74.86K	94.79K	200.00K
Total Liabilities	2.33M	2.24M	2.38M	1.22M	425.13K
Stockholders Equity	-27.84K	664.52K	-1.86M	-900.79K	-136.73K
Cash Flow
Free Cash Flow	-3.31M	-7.66M	-559.92K	-818.36K	17.25K
Operating Cash Flow	-2.98M	-7.40M	-559.92K	-755.59K	17.25K
Investing Cash Flow	-325.82K	-257.76K	0.00	-62.77K	0.00
Financing Cash Flow	1.48M	8.51M	907.48K	15.25K	264.59K

UniDoc Health Corp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.14
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:UDOC, the sentiment is Negative. The current price of 0.14 is above the 20-day moving average (MA) of 0.12, above the 50-day MA of 0.14, and below the 200-day MA of 0.19, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 42.84 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:UDOC.

UniDoc Health Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VHI	68 Neutral	C$442.62M	90.72	2.75%	―	59.34%	-23.48%
CHS	53 Neutral	C$9.33M	-11.57	―	―	16.04%	-455.38%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
AIDR	48 Neutral	C$49.28M	-2.31	-207.53%	―	―	7.04%
UDOC	45 Neutral	C$9.07M	-5.12	6239.15%	―	―	48.94%
NARA	42 Neutral	C$5.62M	-4.68	―	―	―	81.01%