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Dubber Corporation Limited
(Sydney:DUB)
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Rating:53Neutral
Price Target:
AU$0.01
▲(0.00% Upside)
Action:Reiterated
Date:08/28/26
The score is driven mainly by still-weak but improving financial performance (narrowing losses and sharply reduced cash burn offset by a 2026 revenue decline and reduced equity cushion). The earnings call adds moderate support due to cost discipline, ~70% gross margins, and a material near-term cash inflow, but is tempered by recurring-revenue slippage and legal/roll-off uncertainty. Technicals are neutral due to missing indicators, and valuation remains constrained by loss-making status and no dividend data.
Positive Factors
Gross Margin Improvement
A gross margin near 70% improves the economics of Dubber’s recurring SaaS model. Lower infrastructure and AI consumption costs can support stronger contribution margins and provide operating leverage as product usage and subscriptions scale.
Negative Factors
Persistent Losses
Dubber has not yet demonstrated durable profitability: revenue has contracted after prior growth and net losses remain ongoing. Continued losses constrain internal investment capacity and leave the business dependent on execution improvements to achieve sustainable earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross Margin Improvement
A gross margin near 70% improves the economics of Dubber’s recurring SaaS model. Lower infrastructure and AI consumption costs can support stronger contribution margins and provide operating leverage as product usage and subscriptions scale.
Read all positive factors
Dubber Corporation Limited (DUB) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$21.69M
Dividend YieldN/A
Average Volume (3M)1.77M
Price to Earnings (P/E)―
Beta (1Y)1.23
Revenue Growth-16.88%
EPS Growth82.25%
CountryAU
Employees209
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding2,711,777,600
10 Day Avg. Volume2,104,262
30 Day Avg. Volume1,770,338
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)4.49
Price to Sales (P/S)2.69
P/FCF Ratio0.00
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
Dubber Corporation Limited Business Overview & Revenue Model
Company Description
Dubber Corporation Limited, together with its subsidiaries, provides unified call recording and conversation artificial intelligence services to the telecommunications industry in Australia, Europe, the United States, and internationally. The comp...
How the Company Makes Money
Dubber makes money primarily by selling cloud-based voice recording and related services on a subscription basis (SaaS). Its core revenue model is recurring revenue from customers who pay ongoing fees to record and retain calls and voice communica...
Dubber Corporation Limited Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q2-2026)
| Next Earnings Date:Mar 03, 2027
Earnings Call Sentiment Positive
The call conveyed cautious optimism: tangible progress on cost reduction (12–15% improvements), gross margin expansion to ~70%, and a material North American CSP contract (close to AUD 4.6M) provide clear near-term cash and validation upside. Offsetting these positives are a slight decline in recurring revenue (≈4.9% QoQ), ongoing roll-offs from prior contract losses (e.g., VMO2), timing-related receipts weakness, and legal/recovery uncertainty that could be material. Management is focused on a FY'26 run-rate breakeven, heavy AI R&D investment, product consolidation and rebranding to drive future growth. Overall the balance of strong cost discipline, a major contract and path to breakeven versus still-present revenue and legal risks leads to a cautiously positive tone.Positive Updates
Major North American CSP Contract and Near-Term Cash Inflow
Announced a large North American CSP connection contract (5-year network connectivity fee) that will deliver close to AUD 4.6M in cash; partner is already in production on their mobile network and is expected to launch a product that will drive additional subscription/recurring revenue upside.
Negative Updates
Recurring Revenue Decline
Recurring revenue declined to AUD 7.8M from AUD 8.2M in the prior quarter (≈ -4.9%), attributed mainly to residual Cisco invoicing changes and the after-effects of prior contract losses.
Read all updates
Q2-2026 Updates
Positive
Negative
Major North American CSP Contract and Near-Term Cash Inflow
Announced a large North American CSP connection contract (5-year network connectivity fee) that will deliver close to AUD 4.6M in cash; partner is already in production on their mobile network and is expected to launch a product that will drive additional subscription/recurring revenue upside.
Read all positive updates
Company Guidance
Management guided toward underlying cash‑flow breakeven in FY‑26, noting Q2 reported revenue of $9.3m and recurring revenue of $7.8m (from $8.2m), receipts of $8.6m, a Q2 operating cash‑based cost of $9.5m (down 12% QoQ) and annualized cash‑based costs of $38m, with annualized operating costs at $26.8m (Q2 run‑rate, down 15% vs Q1); gross margin improved to 70% (+1% QoQ). They expect a near‑term AUD 4.6m payment from a Tier‑1 North American CSP in Q3 (5‑year network connection fee) that should drive a record cash quarter, have an undrawn $5m loan facility and raised $765k from directors in Q2; after normalizing one‑offs (~$1.0m) and working‑capital timing (~$1.6m) Q2 cash outflow was roughly nil. Guidance also expects gross margins to stay in the 70s, no planned further capital raises if cash inflows materialize, marketing to drive ~50% of channel leads, mid‑year platform consolidation to cut costs, and AI‑led product and ARPU uplift to drive growth.Dubber Corporation Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
56
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.37M | 35.07M | 42.19M | 38.66M | 30.03M | 16.32M |
| Gross Profit | 4.52M | 2.13M | 4.95M | 24.55M | -50.87M | -62.62M |
| EBITDA | -7.61M | -3.16M | -12.28M | -29.06M | -60.79M | -75.67M |
| Net Income | -25.50M | -8.15M | -33.31M | -40.72M | -69.20M | -84.11M |
Balance Sheet | ||||||
| Total Assets | 26.96M | 25.16M | 37.13M | 54.29M | 89.98M | 149.48M |
| Cash, Cash Equivalents and Short-Term Investments | 7.34M | 10.21M | 10.86M | 10.65M | 2.86M | 54.38M |
| Total Debt | 4.23M | 2.13M | 7.88M | 7.40M | 9.37M | 11.28M |
| Total Liabilities | 15.78M | 17.47M | 23.21M | 36.81M | 36.77M | 34.24M |
| Stockholders Equity | 11.18M | 7.68M | 13.92M | 17.49M | 53.21M | 115.25M |
Cash Flow | ||||||
| Free Cash Flow | -9.54M | -24.83K | -21.76M | -22.83M | -50.92M | -45.30M |
| Operating Cash Flow | -12.89M | -20.48K | -21.76M | -22.83M | -50.18M | -42.21M |
| Investing Cash Flow | 741.11K | 249.87K | 488.68K | 2.42M | 1.30M | -40.22M |
| Financing Cash Flow | -1.02M | -372.84K | 21.09M | 29.04M | -1.93M | 105.01M |
Dubber Corporation Limited Technical Analysis
Negative
0.01
Price Trends
0.01
Neutral
0.01
Negative
0.01
Negative
Market Momentum
>-0.01
Negative
42.53
Neutral
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:DUB, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, equal to the 50-day MA of 0.01, and below the 200-day MA of 0.01, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 42.53 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:DUB.
Dubber Corporation Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | AU$713.51M | 14.75 | 12.46% | 1.85% | -1.53% | 10.09% | |
70 Outperform | AU$713.28M | 22.19 | 25.65% | 3.85% | 6.59% | 4.49% | |
70 Outperform | AU$731.74M | 42.57 | 5.34% | ― | 18.83% | ― | |
64 Neutral | AU$53.27M | 8.05 | 7.40% | 6.78% | -15.56% | -91.14% | |
62 Neutral | AU$44.50M | 38.18 | 3.15% | 2.94% | -7.66% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
53 Neutral | AU$21.69M | -0.93 | -203.17% | ― | -16.88% | 82.25% |
* Technology Sector Average
AU:DUB
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Dubber Corporation Limited Corporate Events
Dubber Confirms Prasad Kasinadhuni as CFO After Strengthening Financial Reporting
Aug 27, 2026
Dubber has appointed Prasad Kasinadhuni as Chief Financial Officer, effective 28 August 2026, following his tenure as Financial Controller and Acting CFO since late 2025. Under his leadership, the finance function has operated with a leaner struct...
Dubber Files FY2026 Governance Disclosures with ASX
Aug 27, 2026
Dubber Corporation Limited has lodged its Appendix 4G and Corporate Governance Statement for the financial year ended 30 June 2026, complying with ASX requirements that governance disclosures be current and board-approved. The documents, accessibl...
Dubber Revenue Falls on Loss of VMO2 Contract but Underlying Loss Narrows
Aug 27, 2026
Dubber Corporation Limited reported revenue from continuing operations of $35.1 million for the year ended 30 June 2026, a 17% decline on the prior corresponding period due mainly to the non-renewal of the VirginMedia O2 mobile voice recording con...
Dubber issues Q4 FY26 activities update with investor guidance caveats
Jul 28, 2026
Dubber Corporation Limited released its Q4 FY26 quarterly activities report and Appendix 4C, outlining operational and financial updates for the period. The company emphasised that the presentation is informational, may include non-GAAP financial ...
Dubber Discloses Director John Selak’s Departure and Significant Indirect Shareholding
Jul 7, 2026
Dubber Corporation Limited has disclosed that director John Selak ceased to be a member of the board on 7 July 2026, providing a final notice of his interests in the company’s securities as required under ASX listing rules and the Corporatio...
Dubber Director John Selak Resigns; Fees to Be Paid in Cash
Jul 7, 2026
Dubber Corporation Limited has announced the resignation of Non-Executive Director John Selak, effective 7 July 2026, citing personal reasons for his departure from the board. Selak, who joined in December 2024, will remain available to support tr...
Dubber Trims Option Overhang as 399,000 Securities Expire Unexercised
Jul 2, 2026
Dubber Corporation Limited has notified the ASX of the cessation of several tranches of employee share options and listed options, following their expiry without being exercised or converted. The expiries, covering a total of 399,000 options that ...
Dubber Expands ASX-Quoted Share Base With New Ordinary Issues
Jul 2, 2026
Dubber Corporation Limited has lodged a new application with the ASX for quotation of additional ordinary fully paid shares under its existing ticker DUB. The filing details the issue of 1,081,000 shares dated April 9, 2026, and a further 35,000 s...
Dubber director Matthew Bellizia increases indirect shareholding via on-market purchase
Jul 1, 2026
Dubber Corporation Limited has disclosed a change in director Matthew Bellizia’s relevant interests, indicating an on-market acquisition of additional shares. Bellizia purchased 5,000,000 ordinary fully paid shares at $0.009 per share, lifti...
Dubber discloses updated indirect shareholdings of director Matthew Bellizia
Jun 24, 2026
Dubber Corporation Limited has disclosed changes in the relevant interests of director Matthew Bellizia in the company’s securities, as required under ASX listing rule 3.19A.2. The notice details that Bellizia holds his interests indirectly ...
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.