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Adherium Ltd.
(Sydney:ADR)
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Rating:44Neutral
Price Target:
AU$0.01
â–²(0.00% Upside)
Action:Upgraded
Date:06/29/26
The score is primarily driven by weak financial performance, including declining revenue, ongoing losses, negative equity (solvency risk), and weakening cash flow. Limited technical and valuation inputs prevent offsetting positives, with valuation further constrained by a negative P/E and no dividend yield data.
Positive Factors
Recurring software/data revenue
The company earns recurring fees from software and data services tied to its inhaler sensors. Recurring revenue models increase predictability and customer lifetime value, supporting margin improvement and more stable cash flows over a multi-month horizon.
Negative Factors
Negative shareholders' equity
Negative equity signals solvency stress and constrains financial flexibility. It raises refinancing and covenant risk, can limit access to debt or favorable terms, and increases the likelihood of dilutive equity raises or restructuring to sustain operations over coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring software/data revenue
The company earns recurring fees from software and data services tied to its inhaler sensors. Recurring revenue models increase predictability and customer lifetime value, supporting margin improvement and more stable cash flows over a multi-month horizon.
Read all positive factors
Adherium Ltd. (ADR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$10.98M
Dividend YieldN/A
Average Volume (3M)1.17M
Price to Earnings (P/E)―
Beta (1Y)1.78
Revenue Growth15.99%
EPS Growth32.67%
CountryAU
Employees40
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.91
Shares Outstanding5,488,729,000
10 Day Avg. Volume107,278
30 Day Avg. Volume1,170,790
Financial Highlights & Ratios
PEG Ratio0.58
Price to Book (P/B)-75.56
Price to Sales (P/S)440.42
P/FCF Ratio-35.88
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)-51.5
Revenue Forecast (FY)AU$22.37M
Adherium Ltd. Business Overview & Revenue Model
Company Description
Adherium Limited specializes in developing, manufacturing, and providing advanced digital health solutions. The company's core mission is to enhance medication adherence for individuals managing chronic conditions in key international markets, spa...
How the Company Makes Money
Adherium makes money primarily by commercializing its inhaler-adherence technology and associated digital health services. Revenue has historically been generated through (1) sales or licensing of its inhaler sensor devices (hardware) that monitor...
Adherium Ltd. Financial Statement Overview
Summary
Income Statement
25
Negative
Balance Sheet
30
Negative
Cash Flow
35
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.12M | 817.24K | 840.98K | 3.19M | 529.00K | 401.00K |
| Gross Profit | 380.47K | 111.37K | 267.70K | 1.69M | -690.00K | -789.00K |
| EBITDA | -12.59M | -12.44M | -11.56M | -11.50M | -12.65M | -13.03M |
| Net Income | -12.76M | -12.68M | -10.22M | -9.86M | -10.04M | -15.04M |
Balance Sheet | ||||||
| Total Assets | 4.16M | 3.52M | 9.89M | 12.68M | 8.53M | 17.04M |
| Cash, Cash Equivalents and Short-Term Investments | 642.27K | 43.26K | 6.20M | 9.08M | 5.28M | 15.18M |
| Total Debt | 1.33M | 3.12M | 93.20K | 44.00K | 85.00K | 0.00 |
| Total Liabilities | 4.94M | 8.28M | 3.41M | 3.47M | 3.00M | 3.00M |
| Stockholders Equity | -787.24K | -4.76M | 6.48M | 9.21M | 5.54M | 14.04M |
Cash Flow | ||||||
| Free Cash Flow | -11.00M | -10.03M | -10.61M | -9.32M | -9.89M | -11.30M |
| Operating Cash Flow | -10.94M | -9.98M | -10.61M | -9.28M | -9.61M | -11.27M |
| Investing Cash Flow | -61.72K | -48.19K | -37.00 | -41.00K | -279.00K | -29.00K |
| Financing Cash Flow | 11.26M | 3.87M | 7.73M | 13.07M | 0.00 | 21.90M |
Adherium Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | AU$33.78M | -3.98 | -98.14% | ― | 14.88% | 35.94% | |
44 Neutral | AU$10.98M | -0.22 | 459.94% | ― | 15.99% | 32.67% | |
44 Neutral | AU$44.03M | -9.04 | -547.06% | ― | -19.47% | 62.28% | |
43 Neutral | AU$3.12M | -0.67 | -358.43% | ― | -52.22% | 44.79% | |
41 Neutral | AU$15.34M | -3.04 | -58.40% | ― | -7.00% | 44.55% |
* Healthcare Sector Average
AU:ADR
Adherium Ltd.
0.19
0.00
0.00%
AU:UCM
Uscom Limited
0.01
>-0.01
-25.00%
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HeraMED Ltd.
0.04
0.03
245.45%
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Atomo Diagnostics Ltd.
0.02
<0.01
70.00%
AU:CBL
Control Bionics Ltd.
0.08
0.05
168.97%
Adherium Ltd. Corporate Events
Adherium Director Increases Stake Through Share Placement
Jun 26, 2026
Adherium has disclosed a change in director Louis Panaccio’s relevant interest, with an indirect holding increase via Vilmos Pty Ltd as trustee for the Panaccio Investment Trust. His stake rose through the acquisition of 9,666,664 fully paid...
Adherium Director Increases Indirect Stake via Institutional Share Offer
Jun 26, 2026
Adherium director George Baran has increased his indirect holding in the company through Trudell Medical Limited, in which he has a one-third beneficial interest. The move boosts his indirect stake to more than 1.53 billion fully paid ordinary sha...
Adherium Cancels 237 Million ADRAY Options, Tightening Capital Structure
Jun 24, 2026
Adherium Ltd. has notified the market of the cessation of 237,075,105 options, previously listed under the ASX code ADRAY and exercisable at $0.02 with an expiry date of 5 December 2028. The options ceased to exist on 22 June 2026, reducing the co...
Adherium to issue 237 million unquoted options at $0.02
Jun 24, 2026
Adherium Ltd. has notified the market of a planned issue of 237,075,105 unquoted options, each exercisable at $0.02 and expiring on February 28, 2028, with an issue date of December 29, 2025. The large unquoted option issuance suggests Adherium is...
Adherium Issues Unquoted Options Under Employee Incentive Scheme
Jun 24, 2026
Adherium has notified the market of the issue of several classes of unquoted options under its employee incentive scheme, with varying exercise prices between $0.0041 and $0.01 and expiries from March 2027 to July 2027. The issuance, covering more...
Adherium Issues 100 Million Unquoted Options to Support Capital Flexibility
Jun 24, 2026
Adherium Ltd. has notified the market of the issue of 100 million unquoted options, each exercisable at $0.005 and expiring on 15 November 2026, under its existing capital management arrangements. The options, which are not intended to be quoted o...
Adherium Issues Over 114 Million Shares Under Cleansing Notice
Jun 24, 2026
Adherium Limited has issued 114,998,200 fully paid ordinary shares without a prospectus under Australian Corporations Act provisions, as detailed in a recent Appendix 2A filing. The company confirmed it is up to date with its financial reporting a...
Adherium seeks ASX quotation for 115 million new shares
Jun 24, 2026
Adherium Ltd. has applied for quotation on the ASX of 114,998,200 new fully paid ordinary shares issued on 22 June 2026. The application, lodged under the company’s code ADR, formalises the move to have these securities traded on the exchang...
Adherium Maps Risk-Laden Path Toward U.S. Value-Based Respiratory Care
Jun 23, 2026
Adherium Ltd. is a medical technology company focused on respiratory monitoring devices and digital health services that aim to improve patient breathing and reduce healthcare costs. Its connected solutions are designed to support value-based care...
Adherium Issues 53.9 Million Unquoted Options Under Employee Incentive Plan
Jun 19, 2026
Adherium Ltd. has notified the market that it will issue 53,908,746 unquoted options, each exercisable at $0.01 and expiring on 22 January 2029. The options are being granted under an employee incentive scheme and are not intended to be quoted on ...
Adherium Wins Strong Shareholder Backing for Capital Moves and Share Consolidation
Jun 19, 2026
Adherium shareholders have overwhelmingly approved all resolutions put to an Extraordinary General Meeting held on 19 June 2026 in Melbourne, with each item carried by a strong majority via poll voting. The results cover ratification of previous s...
Adherium Targets U.S. Value-Based Care Growth With Rescheduled Investor Webinar
Jun 17, 2026
Adherium Ltd. has rescheduled its investor webinar to 25 June 2026, when CEO Dawn Bitz and Chief Commercial Officer John Perry will brief investors on the company’s strategy to secure value-based care contracts with major U.S. insurers. Mana...
Adherium Postpones Investor Webinar for Hailie Smartinhaler Developer
Jun 10, 2026
Adherium Limited, a Melbourne-based digital respiratory management company and developer of the Hailie Smartinhaler platform, specialises in connected respiratory medical devices and integrated digital health solutions that allow remote monitoring...
Adherium Appoints New Director With No Initial Shareholding
Jun 1, 2026
Adherium Limited has appointed Victoria Durrans as a director effective 1 June 2026, according to an initial director’s interest notice lodged with the ASX. The filing notes that Durrans currently holds no relevant interests in Adherium secu...
Adherium data reveals widespread inhaler misuse in asthma patients
May 31, 2026
Adherium has released the first dataset from its Remote Patient Monitoring program, using its Hailie Smartinhaler technology to analyse inhaler technique among 265 asthma patients. The study found that only 8.3% of patients used their inhalers cor...
Adherium names John Perry Chief Commercial Officer to drive value-based respiratory growth
May 31, 2026
Adherium has appointed John Perry as its inaugural Chief Commercial Officer to lead integrated global commercial operations and drive the next phase of market expansion for its Hailie Smartinhaler platform. Perry, who previously served as Senior V...
Adherium reshapes board leadership in strategic governance refresh
May 31, 2026
Adherium Limited has reshaped its board leadership, appointing existing non-executive director George Baran, who is also executive chair of major shareholder Trudell Medical, as non-executive chair. The move further aligns Adherium with Trudell...
Adherium Sets New Date for Investor Webinar as It Targets U.S. Value-Based Care Contracts
May 31, 2026
Adherium has rescheduled its investor webinar to 11 June 2026, where the CEO and senior leadership will outline how the company is positioning to win value-based care contracts with major U.S. insurers in the respiratory market. The briefing will ...
Adherium Targets U.S. Value-Based Care Deals With Investor Briefing
May 29, 2026
Adherium has announced a special virtual investor briefing where CEO Dawn Bitz and Senior Vice President, Value Based Care John Perry will present the company’s strategy to win value-based care contracts with major U.S. insurers. The event w...
Adherium to Consolidate Shares and Options Ahead of Mid-2026 Trading Reset
May 21, 2026
Adherium has announced a security consolidation affecting its ordinary shares, various option classes, and stock appreciation rights, with the consolidation taking effect around late June to early July 2026. Trading in the post-consolidation secur...
Adherium Calls Fully Virtual Extraordinary General Meeting for June 2026
May 21, 2026
Adherium Limited has called an Extraordinary General Meeting of shareholders to be held virtually on 19 June 2026, allowing investors to participate online via the Computershare Meeting Platform. The company will distribute the meeting notice elec...
Adherium Accelerates RPM Growth as U.S. Reimbursement Tailwinds Build
Apr 29, 2026
Adherium reported a strong March-quarter performance in its U.S.-focused remote patient monitoring business, with recurring subscription revenues rising 101% quarter-on-quarter to a record $344,000 and cumulative RPM device shipments and activatio...
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.