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Norwood Systems Ltd
(Sydney:NOR)
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Rating:50Neutral
Price Target:
AU$0.02
â–²(60.00% Upside)
Action:Reiterated
Date:10/15/26
The score is held down primarily by weak financial fundamentals—persistent losses, negative operating/free cash flow, and negative equity—despite some improvement in gross margin and cash burn. Technicals are a relative strength with price above major moving averages and positive momentum, but valuation support is limited because earnings are negative and no dividend yield is provided.
Positive Factors
Improving Gross Margin
The shift to positive gross margin indicates that Norwood’s software and services are generating more revenue after direct costs. If maintained, this improvement can provide a stronger base for operating leverage, although overhead remains an important constraint on reaching profitability.
Negative Factors
Negative Shareholders’ Equity
Negative shareholders’ equity reflects accumulated losses and leaves Norwood with limited balance-sheet resilience. It can constrain financial flexibility, make leverage more consequential, and increase the importance of rebuilding equity through sustained profits or other capital support.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Gross Margin
The shift to positive gross margin indicates that Norwood’s software and services are generating more revenue after direct costs. If maintained, this improvement can provide a stronger base for operating leverage, although overhead remains an important constraint on reaching profitability.
Read all positive factors
Norwood Systems Ltd (NOR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$9.28M
Dividend YieldN/A
Average Volume (3M)376.01K
Price to Earnings (P/E)―
Beta (1Y)-0.06
Revenue Growth22.12%
EPS Growth-23.08%
CountryAU
Employees3
SectorCommunication Services
Sector Strength97
IndustrySoftware - Application
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding579,907,900
10 Day Avg. Volume500,390
30 Day Avg. Volume376,006
Financial Highlights & Ratios
PEG Ratio-0.49
Price to Book (P/B)-27.29
Price to Sales (P/S)5.80
P/FCF Ratio-61.46
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
Norwood Systems Ltd Business Overview & Revenue Model
Company Description
Norwood Systems Limited provides mobile voice, messaging, data, and cyber security services to consumers, enterprises, and carriers in New Zealand, Australia, and internationally. The company offers OpenSpan, keyword voice activation, live languag...
How the Company Makes Money
Norwood Systems makes money primarily by selling and operating telecommunications voice software and related services. Key revenue streams typically include: (1) software and platform revenue from licensing or providing access to its voice and cal...
Norwood Systems Ltd Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
18
Very Negative
Cash Flow
28
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.44M | 1.90M | 1.14M | 964.20K | 1.23M |
| Gross Profit | 162.37K | -739.75K | -1.44M | -1.30M | -453.76K |
| EBITDA | -985.53K | -219.07K | -2.44M | -1.74M | -902.00K |
| Net Income | -859.93K | -599.72K | -2.58M | -1.89M | -1.08M |
Balance Sheet | |||||
| Total Assets | 1.76M | 1.43M | 522.91K | 752.59K | 917.80K |
| Cash, Cash Equivalents and Short-Term Investments | 175.90K | 137.76K | 68.98K | 380.14K | 496.93K |
| Total Debt | 671.81K | 950.45K | 767.23K | 790.01K | 965.89K |
| Total Liabilities | 2.28M | 2.18M | 1.75M | 1.85M | 1.75M |
| Stockholders Equity | -517.95K | -746.91K | -1.23M | -1.10M | -835.13K |
Cash Flow | |||||
| Free Cash Flow | -230.00K | -653.22K | -2.01M | -1.22M | -1.09M |
| Operating Cash Flow | -228.82K | -653.22K | -2.00M | -1.18M | -1.09M |
| Investing Cash Flow | -1.18K | -149.24K | -2.67K | -39.78K | -3.03K |
| Financing Cash Flow | 268.13K | 871.25K | 1.70M | 1.10M | 1.53M |
Norwood Systems Ltd Technical Analysis
Negative
0.01
Price Trends
0.02
Negative
0.02
Negative
0.01
Positive
Market Momentum
>-0.01
Positive
43.49
Neutral
13.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NOR, the sentiment is Negative. The current price of 0.01 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 0.01, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.49 is Neutral, neither overbought nor oversold. The STOCH value of 13.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:NOR.
Norwood Systems Ltd Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | AU$1.27B | 36.29 | 5.50% | 1.44% | 9.12% | 7.51% | |
64 Neutral | AU$1.39B | 79.62 | 4.27% | 0.21% | 21.56% | 1694.74% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | AU$1.26B | 40.22 | 5.72% | 3.36% | 5.50% | -7.85% | |
53 Neutral | AU$28.82M | 33.88 | 15.81% | ― | -25.07% | ― | |
50 Neutral | AU$9.28M | -10.00 | 124.87% | ― | 22.12% | -23.08% | |
46 Neutral | AU$31.41M | -0.49 | 188.00% | 0.51% | -19.33% | -151.55% |
* Communication Services Sector Average
AU:NOR
Norwood Systems Ltd
0.02
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-27.27%
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Norwood Systems Ltd Corporate Events
Norwood Systems Issues New Unquoted Options and Convertible Notes
Oct 27, 2026
Norwood Systems Limited has notified the market of the issue of new unquoted securities, including 4,750,000 options exercisable at $0.02 expiring on 30 June 2028 and 4,210,527 options exercisable at $0.025 expiring on 31 March 2028. The company h...
Norwood Systems Issues New Unquoted Options and Convertible Notes
Oct 27, 2026
Norwood Systems Ltd has notified the market of new unquoted equity securities, comprising 4,000,000 options exercisable at $0.025 and expiring on 31 December 2028, along with 13,157,895 convertible notes issued on 27 October 2026. The issuance, di...
Norwood Systems Plans Convertible Note and Option Placement on ASX
Oct 13, 2026
Norwood Systems Limited has announced a proposed capital raising via the issue of 13,157,895 convertible notes and 4,000,000 options exercisable at 2.5 cents, expiring on 31 December 2028. The securities are to be issued as part of a placement or ...
Norwood Systems Plans Convertible Notes and Options Placement
Oct 13, 2026
Norwood Systems Limited has notified the ASX of a proposed securities issue via a placement, comprising up to 23,421,053 convertible notes and 18,289,474 options exercisable at 2.5 cents and expiring on 31 December 2028. The proposed issue date is...
Norwood Systems secures A$695,000 in oversubscribed convertible note raising
Oct 13, 2026
Norwood Systems Ltd has raised A$695,000 through an oversubscribed unsecured convertible note issue arranged by Alto Capital, exceeding its minimum A$600,000 target by about 16%. The notes, carrying 10% annual interest and a conversion price of A$...
Norwood Systems Requests ASX Trading Halt Ahead of Capital Raise
Oct 11, 2026
Norwood Systems Ltd has requested and received a trading halt on its securities from the ASX, effective 12 October 2026, ahead of a planned capital raise announcement. The halt will remain in place until normal trading resumes on Wednesday, 14 Oct...
Norwood Systems Sets Out 2026 Corporate Governance Framework
Sep 30, 2026
Norwood Systems has released its 2026 Corporate Governance Statement, outlining how its Board implements ASX Corporate Governance Council principles while tailoring practices to the company’s current size and operational scale. The statement...
Norwood Systems Files Updated ASX Governance Disclosures
Sep 30, 2026
Norwood Systems has lodged its Appendix 4G and confirmed that its corporate governance statement for the year ended 30 June 2026 is available on its investor website. The statement, approved by the board as at 30 September 2026, outlines complianc...
Norwood Systems Confirms Governance Structure in 2026 Annual Report
Sep 30, 2026
Norwood Systems Limited has released its annual report for the year ended 30 June 2026, detailing its corporate directory and confirming its current board and key management roles, including CEO and Managing Director Paul Ostergaard and non-execut...
Norwood Systems Plans Convertible Note and Options Issue on ASX
Sep 29, 2026
Norwood Systems Limited has announced a proposed issue of new securities on the ASX, comprising convertible notes and multiple classes of options with exercise prices between 2 and 2.5 cents and expiries in 2028. The placement is scheduled for 30 ...
Norwood Systems Extends Funding via Convertible Note Refinancing
Sep 29, 2026
Norwood Systems has refinanced $160,000 of its existing $180,000 working capital loan with Plough Lane Superannuation into an unsecured convertible note, extending the maturity to 30 June 2027 and providing additional financial flexibility. Under ...
Norwood Systems Sets Out Governance Framework in 2026 Preliminary Final Report
Aug 31, 2026
Norwood Systems Limited released its preliminary final report for the year ended 30 June 2026, outlining the company’s formal corporate directory and confirming key governance roles and service relationships. The document highlights the curr...
Norwood Systems Extends Repayment on Insider-Backed Working Capital Loan
Aug 31, 2026
Norwood Systems has extended the repayment date on its $180,000 unsecured working capital loan from 31 August 2026 to 30 September 2026, maintaining a 9.75% interest rate and adding a 2% extension fee plus GST, alongside a potential default intere...
Norwood Systems switches share registry provider to Xcend
Aug 24, 2026
Norwood Systems has shifted its share registry services from Automic Registry Services to Xcend Pty Ltd, effective 24 August 2026, aligning with ASX Listing Rule requirements. The move introduces Xcend’s secure online investor portal, giving...
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.