BCAL Diagnostics Limited AI Stock Analysis
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BCAL Diagnostics Limited (BDX) AI Stock Analysis
BCAL Diagnostics Limited
(ASX:BDX)
BDX scores near the bottom of the range, driven primarily by a severely strained financial position: negligible and volatile revenue, a negative gross profit, a net loss of roughly -$7.4m, negative shareholders' equity, and debt that has climbed to about $6.9m against a shrinking asset base. Annual cash burn of over $6m points to limited runway and a strong probability of dilutive capital raising. Technicals reinforce the caution, with the price below all major moving averages and a negative MACD, though a low RSI hints at scope for a short-term bounce. Valuation provides no cushion, with a negative P/E and no dividend. This is a high-risk, binary situation where any upside depends entirely on clinical and commercial progress rather than current financial performance.
BCAL Diagnostics Limited (BDX) vs. iShares MSCI Australia ETF (EWA)
- Market Cap
- AUD 23.60M
- Dividend Yield
- ―
- Average Volume (3M)
- 141.72K
- Price to Earnings (P/E)
- -3.0
- Beta (1Y)
- 0.37
- Revenue Growth
- 743.51%
- EPS Growth
- -1.52%
- Country
- Australia
- Employees
- 6
- Sector
- Healthcare
- Sector Strength
- 51
- Industry
- Medical - Diagnostics & Research
BCAL Diagnostics Limited Business Overview & Revenue Model
Company Description
BCAL Diagnostics Limited is a biotechnology firm focused on creating an advanced, non-surgical laboratory blood test for the identification of breast cancer. Its flagship product, the BCAL test, is a lipid biomarker-based blood assay designed for pot...
BCAL Diagnostics Limited Financial Statement Overview
Summary
Financials are extremely weak across all three statements. Revenue is negligible and erratic (roughly $183k in the latest year versus $3.1m in FY2024), and the latest year produced a negative gross profit of about -$0.5m, meaning direct costs exceed sales. Operating loss of roughly -$9.4m and a net loss of about -$7.4m continue a multi-year pattern of widening losses. The balance sheet has deteriorated sharply: shareholders' equity swung from +$6.2m to -$0.8m, while total debt ballooned from zero in FY2022 to roughly $6.9m against a shrinking $7.7m asset base. Operating cash flow of about -$6.2m and free cash flow of about -$6.6m confirm the losses are genuine cash costs, implying limited runway and a high likelihood of further capital raising and dilution. The only modest positives are that losses and cash burn have stabilised rather than accelerated.
Income Statement
9Very NegativeBalance Sheet
12Very NegativeCash Flow
12Very Negative| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 182.51K | 182.51K | 21.64K | 3.10M | 2.79M | 718.67K |
| Gross Profit | -534.72K | -534.72K | 21.64K | 3.10M | 2.79M | 698.06K |
| EBITDA | -8.67M | -8.67M | -6.19M | -5.45M | -7.72M | -4.06M |
| Net Income | -7.37M | -7.37M | -7.24M | -6.40M | -5.06M | -3.39M |
Balance Sheet | ||||||
| Total Assets | 7.66M | 7.66M | 9.91M | 12.27M | 8.37M | 10.59M |
| Cash, Cash Equivalents and Short-Term Investments | 1.59M | 1.59M | 4.52M | 6.47M | 3.17M | 9.57M |
| Total Debt | 6.92M | 6.92M | 2.38M | 1.52M | 1.06M | 0 |
| Total Liabilities | 8.49M | 8.49M | 3.69M | 3.68M | 3.16M | 950.42K |
| Stockholders Equity | -826.19K | -826.19K | 6.22M | 8.59M | 5.21M | 9.64M |
Cash Flow | ||||||
| Free Cash Flow | -6.62M | -6.62M | -6.92M | -5.67M | -6.41M | -7.25M |
| Operating Cash Flow | -6.16M | -6.16M | -6.14M | -4.52M | -6.05M | -3.22M |
| Investing Cash Flow | -1.44M | -1.44M | -787.67K | -1.15M | 3.64M | -4.03M |
| Financing Cash Flow | 4.66M | 4.66M | 4.97M | 8.97M | 13.24K | 9.41M |
BCAL Diagnostics Limited Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BDX, the sentiment is Negative. The current price of 0.06 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.08, and below the 200-day MA of 0.08, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 36.23 is Neutral, neither overbought nor oversold. The STOCH value of 32.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:BDX.
BCAL Diagnostics Limited Peers Comparison
Overall Rating
AU:SHL72Outperform
AU:ACL66.4Neutral
AU:HLS49.9Neutral
AU:LDX41Neutral- AU:BDX39Underperform
AU:RHY38Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| AU:SHL | 72Outperform | AUD 9.83B | 16.17 | 7.20% | 5.43% | 14.40% | 15.11% |
| AU:ACL | 66Neutral | AUD 624.84M | 27.10 | 15.80% | 3.88% | -0.90% | -25.09% |
| Sector * | 51Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
| AU:HLS | 50Neutral | AUD 417.55M | -1.00 | -114.08% | ― | 2.16% | 21.05% |
| AU:LDX | 41Neutral | AUD 69.17M | -7.29 | -35.89% | ― | 1.36% | 39.13% |
| AU:BDX | 39Underperform | AUD 22.20M | -2.98 | -881.94% | ― | 743.51% | -1.52% |
| AU:RHY | 38Underperform | AUD 24.03M | -3.73 | -205.17% | ― | 239.64% | -37.21% |
* Healthcare Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| AU:BDX | BCAL Diagnostics Limited | 0.06 | -0.03 | -33.33% | |
| AU:HLS | Healius Limited | 0.57 | -0.33 | -36.46% | |
| AU:RHY | Rhythm Biosciences Ltd. | 0.07 | -0.02 | -20.48% | |
| AU:LDX | Lumos Diagnostics Holdings Ltd. | 0.07 | -0.12 | -63.16% | |
| AU:SHL | Sonic Healthcare Limited | 19.89 | -0.06 | -0.29% | |
| AU:ACL | Australian Clinical Labs Ltd | 3.35 | 0.80 | 31.58% |
BCAL Diagnostics Limited Corporate Events
BCAL Diagnostics Reports Cessation of 1,034,243 Options
BCAL Diagnostics Limited, identified by ASX issuer code BDX, has no industry, product, service or market-focus information in the release. The company notified the cessation of 1,034,243 BDXAG options expiring on 17 October 2026 with a $0.20 exercise...
BCAL Diagnostics Reports Cessation of 3,583,583 Performance Rights
BCAL Diagnostics Limited is identified in the release as the entity with ASX issuer code BDX; no industry, products, services or market focus are provided. The company reported that 3,583,583 BDXAF performance rights ceased on 13 November 2026 becaus...
BCAL Diagnostics Seeks Quotation of 1,383,750 Ordinary Securities
BCAL Diagnostics Limited is identified by ASX issuer code BDX; no information is provided on its industry, products or market focus. The 13 November 2026 announcement records an application for quotation of 1,383,750 ordinary fully paid securities, w...
BCAL Applies to Panel Over Proposed GSS-Microba Transaction
Genetic Signatures Limited is an ASX-listed company operating in the infectious disease diagnostics sector. BCAL Diagnostics Limited, also ASX-listed, is a substantial GSS shareholder with 18.46% of shares on issue.BCAL has applied to the Panel regar...
Director Jayne Shaw Acquires 72,315 BCAL Diagnostics Shares
BCAL Diagnostics Limited reported that director Jayne Shaw acquired 72,315 ordinary shares in an on-market purchase on 5 November 2026 for $4,258, with no shares disposed. The filing showed the increase in shares held through Nabelle Pty Ltd’s Shaw F...
BCAL advances breast cancer and multicancer blood tests ahead of national rollout
BCAL Diagnostics has completed clinical validation of BREASTESTplus 2 for women aged 30 and over across all breast densities, reporting 80.3% sensitivity and 48.5% specificity for early-stage breast cancer. The company is preparing accreditation and...
BCAL backs Melki’s GSS board return but challenges Microba merger terms
BCAL Diagnostics, a major shareholder in Genetic Signatures Limited, has welcomed the appointment of former GSS chief executive Dr John Melki to the GSS board following shareholder approval at an extraordinary general meeting. The company says his de...
BCAL Diagnostics Showcases BREASTESTplus 2 Research at Global Lipidomics Conference
BCAL Diagnostics has showcased the scientific research underpinning its blood-based breast cancer test BREASTESTplus 2 at the Australian Lipid Meeting and International Lipidomic Society Conference in Perth. The poster presentation detailed the clini...
BCAL Diagnostics Evolves Into National Early Cancer Detection Platform
BCAL Diagnostics Limited is an Australian healthcare company focused on developing and commercialising blood-based technologies for earlier cancer detection across multiple indications. Its diagnostics platform includes tests for breast, pancreatic,...
BCAL Diagnostics Clinically Validates BREASTESTplus 2 Ahead of National Launch
BCAL Diagnostics has completed clinical validation of its next-generation BREASTESTplus 2 blood test for the detection of early-stage breast cancer in women aged 30 and over across all breast densities. The test, which showed sensitivity of 80.3% and...
BCAL rolls out Avantect multi-cancer blood test across Australia
BCAL Diagnostics has begun a phased rollout of the Avantect Multi-Cancer early detection blood test in Australia, initially targeting Sydney and Melbourne before a broader national expansion. The test, developed with ClearNote Health, screens for can...
BCAL Diagnostics Sets October AGM, Streamlines Digital Shareholder Participation
BCAL Diagnostics has called its Annual General Meeting for 19 October 2026 in Sydney, with shareholders able to attend both in person and online via a Zoom webinar. Online participants will be able to submit questions but must lodge their votes in ad...
BCAL Diagnostics distances itself from merger talk as it pursues scale and synergies
BCAL Diagnostics has clarified its position regarding Genetic Signatures and Microba Life Sciences following media speculation about a possible three-way merger among the medtech firms. The company reiterated that its stance toward Genetic Signatures...
BCAL Diagnostics pushes for board shake‑up at Genetic Signatures after lifting stake
BCAL Diagnostics has moved to reshape the board of fellow ASX-listed diagnostics firm Genetic Signatures after increasing its stake to 18.46%, issuing a formal request for a shareholder meeting to vote on removing director Michael Aicher and appointi...
BCAL Diagnostics Builds Early Cancer Detection Platform as Test Uptake Grows
BCAL Diagnostics reported FY26 progress highlighting commercial uptake of its BREASTEST plus test, with more than 200 tests sold since launch and growing digital infrastructure through earlydectection.com.au integrated into widely used GP practice sy...
BCAL Diagnostics Files Updated Corporate Governance Statement with ASX
BCAL Diagnostics has lodged its latest corporate governance statement for the year to 30 June 2026, confirming that the document is current as of 28 August 2026 and accessible via its website in line with ASX Listing Rule requirements. The accompanyi...
BCAL Diagnostics widens early cancer platform as losses deepen and balance sheet weakens
BCAL Diagnostics reported a 10% decline in revenue to $2.55 million for the year to 30 June 2026 and a slightly higher net loss of $7.37 million, with no dividends declared and a net deficiency in tangible assets per security. The audited financial s...
BCAL Diagnostics boosts Genetic Signatures stake to deepen diagnostics platform
BCAL Diagnostics has lifted its stake in molecular diagnostics firm Genetic Signatures to 18.46% by acquiring an additional 18.75 million shares for $1.5 million in cash at $0.08 per share. The company views Genetic Signatures’ 3base platform and Eas...
BCAL Diagnostics Issues 1.5 Million Unquoted Convertible Notes
BCAL Diagnostics Limited has notified the market of the issue of 1,500,000 unquoted convertible notes, designated as BDXAI, with an issue date of August 25, 2026. The notes form part of previously announced transactions and are not intended to be quo...
BCAL Diagnostics Issues 1 Million Unquoted Convertible Notes
BCAL Diagnostics Limited has notified the market of the issue of 1,000,000 unquoted convertible notes, designated as BDXAI, with an issue date of 14 August 2026. The move expands the company’s pool of unquoted equity-linked securities and may provide...
BCAL Diagnostics to Raise Capital via Convertible Note Placement
BCAL Diagnostics Limited has notified the ASX of its intention to issue up to 4,900,000 convertible notes under a placement or similar capital-raising structure. The securities, designated under the ASX code BDXAI, are scheduled for issue on 26 Augus...
BCAL Diagnostics Clarifies Convertible Note Funding and Share Issue Capacity
BCAL Diagnostics has detailed its funding position for FY2027, confirming drawdowns under a $10 million convertible note facility first approved by shareholders in late 2025. The company has issued $3.1 million in notes within the original approval w...
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.
Date of analysis: Nov 06, 2026