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Flexiroam Ltd
(Sydney:FRX)
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Rating:53Neutral
Price Target:
AU$0.02
▲(10.00% Upside)
Action:Reiterated
Date:09/29/26
The score is driven primarily by improving financial performance (return to profitability, stronger equity, and positive free cash flow), offset by concerns about sustainability given the sharp revenue decline, margin volatility, and historically inconsistent cash generation. Technicals are largely neutral with mixed momentum signals, and valuation (P/E ~25 with no dividend yield provided) does not provide a clear margin of safety.
Positive Factors
Return to Profitability
The return to operating and net profitability marks a meaningful recovery from the losses reported in 2024–2025. If maintained, positive earnings can support reinvestment in eSIM distribution, strengthen financial resilience, and improve the company’s ability to fund operations internally.
Negative Factors
Sharp Revenue Decline
The substantial revenue contraction raises questions about customer demand, distribution reach, and the scalability of the company’s international connectivity offering. Even with a return to profit, sustained top-line weakness can limit operating leverage, investment capacity, and the durability of future earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Return to Profitability
The return to operating and net profitability marks a meaningful recovery from the losses reported in 2024–2025. If maintained, positive earnings can support reinvestment in eSIM distribution, strengthen financial resilience, and improve the company’s ability to fund operations internally.
Read all positive factors
Flexiroam Ltd (FRX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$28.82M
Dividend YieldN/A
Average Volume (3M)187.75K
Price to Earnings (P/E)27.5
Beta (1Y)0.21
Revenue Growth-25.07%
EPS GrowthN/A
CountryAU
Employees50
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)<0.01
Shares Outstanding1,516,718,000
10 Day Avg. Volume263,985
30 Day Avg. Volume187,748
Financial Highlights & Ratios
PEG Ratio-0.39
Price to Book (P/B)6.97
Price to Sales (P/S)2.83
P/FCF Ratio10.63
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 ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)<0.01
Revenue Forecast (FY)AU$49.30M
Flexiroam Ltd Business Overview & Revenue Model
Company Description
Flexiroam Limited operates globally, specializing in telecommunications and Internet of Things (IoT) connectivity solutions. The company offers cellular data plans and international coverage accessible via its proprietary Flexiroam app for mobile ...
How the Company Makes Money
Flexiroam makes money primarily by selling mobile connectivity (especially international data roaming) delivered via eSIM and related digital provisioning methods. Key revenue streams typically include: (1) Direct-to-consumer sales of travel data ...
Flexiroam Ltd Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
64
Positive
Cash Flow
45
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 10.17M | 13.58M | 15.27M | 11.05M | 3.67M |
| Gross Profit | 2.56M | 8.04M | 6.47M | 2.62M | 1.48M |
| EBITDA | 1.33M | 593.93K | 1.26M | -3.00M | -4.00M |
| Net Income | 658.21K | -2.00M | -1.06M | 11.98M | -4.19M |
Balance Sheet | |||||
| Total Assets | 9.24M | 7.94M | 7.11M | 7.09M | 4.71M |
| Cash, Cash Equivalents and Short-Term Investments | 3.58M | 1.64M | 492.84K | 1.30M | 4.21M |
| Total Debt | 898.93K | 808.93K | 400.00K | 0.00 | 0.00 |
| Total Liabilities | 5.10M | 5.46M | 7.20M | 8.21M | 6.71M |
| Stockholders Equity | 4.14M | 2.49M | -80.75K | -1.12M | -1.99M |
Cash Flow | |||||
| Free Cash Flow | 2.71M | -3.09M | -3.02M | -1.91M | -61.30K |
| Operating Cash Flow | 2.71M | -3.08M | -1.06M | -1.62M | 16.96K |
| Investing Cash Flow | -522.15K | -637.03K | -1.95M | -291.90K | -78.26K |
| Financing Cash Flow | 0.00 | 4.98M | 2.30M | -69.00 | 4.25M |
Flexiroam Ltd Technical Analysis
Positive
0.02
Price Trends
0.02
Negative
0.02
Negative
0.02
Negative
Market Momentum
<0.01
Positive
57.22
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:FRX, the sentiment is Positive. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and below the 200-day MA of 0.02, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 57.22 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:FRX.
Flexiroam Ltd Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | AU$1.31B | 35.78 | 5.50% | 1.40% | 9.12% | 7.51% | |
64 Neutral | AU$1.30B | 74.93 | 4.27% | 0.21% | 21.56% | 1694.74% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | AU$53.04B | 24.21 | 17.30% | 4.35% | -0.81% | 5.46% | |
58 Neutral | AU$7.46B | 72.20 | 1.20% | 46.87% | -4.55% | ― | |
58 Neutral | AU$1.38B | 42.75 | 5.72% | 3.36% | 5.50% | -7.85% | |
53 Neutral | AU$28.82M | 27.50 | 15.81% | ― | -25.07% | ― |
* Communication Services Sector Average
AU:FRX
Flexiroam Ltd
0.02
0.01
100.00%
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Flexiroam Ltd Corporate Events
FlexiRoam Expands Into Travel Loyalty With Two-Year Dragonpass Connectivity Deal
Sep 3, 2026
FlexiRoam Limited has signed a two-year connectivity partnership with Dragonpass, a major digital platform for airport, travel and lifestyle services that serves over 40 million members and more than 400 brands worldwide. The deal embeds FlexiRoam...
FlexiRoam Files Updated ASX Corporate Governance Statement for FY 2026
Aug 28, 2026
FlexiRoam Limited has lodged its updated corporate governance statement and associated Appendix 4G with the ASX for the financial year ended 30 June 2026, confirming compliance with key ASX Corporate Governance Council principles. The company reit...
Flexiroam posts first full-year profit after strategic reset despite revenue fall
Aug 28, 2026
Flexiroam has delivered a marked financial turnaround for the year to 30 June 2026, despite a 25% drop in revenue to $10.2 million as it exited unprofitable consumer travel channels and faced weaker international travel demand linked to Middle Eas...
FlexiRoam seals two-year Etihad deal to power airline connectivity
Aug 3, 2026
FlexiRoam has signed a two-year agreement with Etihad Airways to provide managed connectivity services across the airline’s operations, including staff roaming data, aircraft operational data and pilot iPad connectivity in more than 125 coun...
FlexiRoam Posts First Full-Year Profit and Cash-Positive Year as Recurring Revenue and Enterprise Channels Grow
Jul 31, 2026
FlexiRoam reported its strongest financial year since listing, achieving its first full-year statutory net profit of approximately $0.4 million and record Underlying EBITDA of $2.2 million despite a 27% drop in revenue to $9.9 million. The busines...
FlexiRoam Expands Payment-Terminal Connectivity into Australian Market
Jul 23, 2026
FlexiRoam has signed a three-year connectivity agreement with a large Australian payments group to embed its SIM and eSIM services in payment terminals nationwide, extending its payment-terminal connectivity business into Australia. The deal, whic...
FlexiRoam Strikes Global Telecom MoU to Scale AI eSIM Platform
Jul 13, 2026
FlexiRoam has entered a non-binding memorandum of understanding with a leading global telecommunications company that serves a majority of Fortune 500 enterprises. The partnership will integrate FlexiRoam’s AI eSIM Platform with the partner&...
Flexiroam Options Lapse, Trimming Potential Future Dilution
Jul 3, 2026
Flexiroam has announced the cessation of several tranches of options on issue after the conditional rights attached to them lapsed, covering a total of 930,000 options with various exercise prices and expiry dates between 2028 and 2029. The lapse ...
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.