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Frugl Group Limited (IFG) AI Stock Analysis

AU:IFG

Frugl Group Limited

(ASX:IFG)

Select Model
Rating:40.2Neutral
Price Target:AUD 0.01â–²(0.00% Upside)
Action:upgraded
Date:09/06/26

The overall score is constrained by very weak financial health, including large losses, negative cash generation, high leverage, and negative equity, which collectively signal high execution and solvency risk. Secondary pressure comes from the lack of clear technical support and a valuation anchored in expectations rather than proven profitability, while missing earnings call and corporate event insights mean there are no offsetting near-term catalysts in the current data.

Positive Factors
Revenue ScalingSharp revenue scaling indicates the company has expanded its commercial activity and established a larger operating base. If management can improve unit economics and control costs, this broader revenue platform could provide greater leverage for future profitability and reinvestment.
Negative Factors
Persistent UnprofitabilityProfitability has not kept pace with revenue expansion, with gross profit turning negative and operating losses remaining very large relative to sales. This points to weak or deteriorating unit economics and makes durable earnings generation dependent on substantial operational improvement.

Frugl Group Limited (IFG) vs. iShares MSCI Australia ETF (EWA)

-20%0%20%40%60%80%100%AU:IFG0.00%EWA+13.51%Dec '25Jan '26Feb '26Mar '26Apr '26May '26
Market Cap
AUD 4.29M
Dividend Yield
―
Average Volume (3M)
―
Price to Earnings (P/E)
-0.4
Beta (1Y)
3.20
Revenue Growth
-1.65%
EPS Growth
16.81%
Country
Australia
Employees
1
Sector
Technology
Sector Strength
61
Industry
Information Technology Services

Frugl Group Limited Business Overview & Revenue Model

Company Description

Based in Northbridge, Australia, InFocus Group Holdings Limited (formerly Frugl Group Limited until November 2024) was established in 2001 as a data intelligence and software solutions provider. The company's operations encompass several key areas: P...

Frugl Group Limited Financial Statement Overview

Summary

Strong multi-year revenue growth is overshadowed by deep and widening operating and net losses, sharply negative gross margins, persistent negative free cash flow, and a 2026 balance sheet with high debt and negative equity, indicating elevated financial and solvency risk.

Income Statement

22Negative

Balance Sheet

10Very Negative

Cash Flow

18Very Negative
Financial statement breakdown
BreakdownTTMJun 2025Jun 2024Jun 2023Jun 2022Jun 2021
Income Statement
Total Revenue4.35M4.35M4.43M796.60K162.26K142.83K
Gross Profit-2.83M-2.90M-1.11M688.48K162.26K142.83K
EBITDA-4.05M-3.42M-3.26M-2.86M-2.20M-2.23M
Net Income-7.74M-7.74M-3.86M-3.11M-2.28M-2.24M
Balance Sheet
Total Assets6.29M6.29M6.51M4.91M1.42M226.61K
Cash, Cash Equivalents and Short-Term Investments228.58K228.58K552.83K652.91K1.30M73.81K
Total Debt7.29M7.29M1.99M1.47M0700.00K
Total Liabilities9.87M9.87M4.16M2.36M421.39K1.05M
Stockholders Equity-3.58M-3.58M2.36M2.54M998.62K-824.38K
Cash Flow
Free Cash Flow-2.03M-2.03M-1.07M-2.76M-2.05M-1.93M
Operating Cash Flow-2.02M-2.02M-796.19K000
Investing Cash Flow-1.78M-1.78M-776.77K-69.64K0-10.16K
Financing Cash Flow3.54M3.54M1.45M1.97M3.28M1.75M

Frugl Group Limited Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

AU:IFG against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
AU:CCAAU:CCA70OutperformAUD 30.38M37.336.26%―15.94%―
AU:CCRAU:CCR67NeutralAUD 70.46M16.285.40%―28.01%2.38%
Sector *61Neutral$37.18B12.37-10.20%1.83%8.50%-7.62%
AU:JCSAU:JCS59NeutralAUD 9.57M15.0056.26%―17.11%―
AU:CGOAU:CGO52NeutralAUD 3.77M-5.33-92.86%―――
AU:OVTAU:OVT42NeutralAUD 2.00M-0.03-122.17%―-60.21%50.10%
AU:IFGAU:IFG40NeutralAUD 4.29M-0.37677.52%―-1.65%16.81%

* Technology Sector Average

Performance Comparison

0%100%200%300%AU:IFGAU:CCAAU:OVTAU:JCSAU:CGOAU:CCRDec '25Jan '26Feb '26Mar '26Apr '26May '26
AU:IFG and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
AU:IFGFrugl Group Limited0.010.000.00%
AU:CCAChange Financial Ltd0.04-0.03-40.54%
AU:OVTIOUpay Limited0.010.000.00%
AU:JCSJCurve Solutions Limited0.03-0.03-50.00%
AU:CGOCPT Global Limited0.090.003.45%
AU:CCRCredit Clear Limited0.14-0.14-50.88%

Frugl Group Limited Corporate Events

Infocus Group Plans Major Equity Placement with Shares and Options

Sep 2, 2026

Infocus Group Holdings Limited has notified the ASX of a proposed placement involving a substantial new issue of securities, including 90 million ordinary fully paid shares and a total of 115 million options exercisable at $0.01, all scheduled for is...

InFocus raises $450,000 to drive Codexa rollout and iGaming strategy

Sep 2, 2026

InFocus Group Holdings has secured firm commitments for a $450,000 equity placement at $0.005 per share, with attached options, to accelerate commercialisation of its Codexa sweepstakes casino platform and fund related patent filings. The proceeds wi...

InFocus Group posts higher revenue but deeper loss and exits Thai subsidiary

Aug 31, 2026

InFocus Group Holdings Limited has reported preliminary unaudited financial results for FY2026 showing a 17.7% rise in revenue to about A$6.26 million, but a sharp increase in net loss from ordinary activities after tax to approximately A$7.74 millio...

InFocus Group Issues Shares Under Cleansing Statement Without Disclosure Document

Aug 14, 2026

InFocus Group Holdings has completed an issue of shares on 12 August 2026 without a disclosure document, relying on provisions under the Corporations Act that permit such placements. The company states it is fully compliant with its financial reporti...

InFocus Group boosts Codexa platform with VIP experience and AI compliance engine

Aug 11, 2026

InFocus Group Holdings Limited has unveiled the first significant upgrade to its Codexa sweepstakes casino platform, developed by IFG iGaming for the U.S. market. The release marks a strategic effort to blend a premium, VIP-style online casino experi...

InFocus launches Codexa and streamlines operations with Prodigy9 divestment

Jul 31, 2026

InFocus Group Holdings has launched Codexa, its first proprietary sweepstakes casino platform under InFocus Gaming Technologies, targeting the US market and pursuing a multi-track commercialisation strategy including white-label licensing, managed se...

InFocus issues 1.8 million shares and lodges cleansing notice

Jun 19, 2026

InFocus Group Holdings has issued 1,807,143 new shares on 15 June 2026 without a prospectus, relying on disclosure exemptions under the Corporations Act. The company stated it remains compliant with financial reporting and continuous disclosure oblig...

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.

Date of analysis: Sep 06, 2026