Tern PLC (GB:TERN)
LSE:TERN
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Tern plc
(LSE:TERN)
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Rating:44Neutral
Price Target:
0.97 p
▲(49.23% Upside)
Action:Upgraded
Date:06/26/26
The score is held down primarily by weak financial performance driven by persistent losses and negative cash flow, alongside an unhelpful valuation picture due to loss-making (negative P/E) and no dividend yield data. Technical indicators are the main offset, showing some longer-term improvement versus key moving averages, but momentum remains mixed.
Positive Factors
Sector Focus
A concentrated strategy on cybersecurity and IoT aligns Tern with durable secular growth areas. Specialization improves deal sourcing, technical diligence and value-add support for portfolio companies, increasing the probability of successful exits over a multi-quarter horizon.
Negative Factors
Sustained Losses
Multi-year operating losses erode retained capital and reduce optionality: persistent deficits limit the company's capacity to fund operations or support portfolio rounds internally, raising the likelihood of dilutive financing or pressured asset disposals.
Read all positive and negative factors
Positive Factors
Negative Factors
Sector Focus
A concentrated strategy on cybersecurity and IoT aligns Tern with durable secular growth areas. Specialization improves deal sourcing, technical diligence and value-add support for portfolio companies, increasing the probability of successful exits over a multi-quarter horizon.
Read all positive factors
Tern plc (TERN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£8.56M
Dividend YieldN/A
Average Volume (3M)1.82M
Price to Earnings (P/E)―
Beta (1Y)-0.58
Revenue Growth1240.62%
EPS Growth-8.11%
CountryUK
Employees6
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding855,543,700
10 Day Avg. Volume495,937
30 Day Avg. Volume1,824,725
Financial Highlights & Ratios
PEG Ratio-1.53
Price to Book (P/B)53.31
Price to Sales (P/S)29098.15
P/FCF Ratio-739.49
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
Tern plc Business Overview & Revenue Model
Company Description
Tern Plc is a venture capital firm specializing in early-stage and growth capital investment. The firm typically invests in the software companies having IoT security, Artificial Intelligence ("AI"), Machine Learning ("ML"), Virtual/Augmented Real...
How the Company Makes Money
Tern plc’s primary economic model is that of an investment holding company: it seeks to create value by acquiring and holding equity (and potentially other investment instruments) in portfolio companies and benefiting from increases in their value...
Tern plc Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 54.00K | 17.40K | 199.23K | -8.34M | 6.10M |
| Gross Profit | 54.00K | 17.40K | 199.23K | 66.01K | 63.78K |
| EBITDA | -5.09M | -1.18M | -12.67M | -10.25M | -1.61M |
| Net Income | -5.09M | -3.77M | -12.61M | -10.45M | 4.58M |
Balance Sheet | |||||
| Total Assets | 7.49M | 11.31M | 13.15M | 25.18M | 32.76M |
| Cash, Cash Equivalents and Short-Term Investments | 49.38K | 382.21K | 297.56K | 931.76K | 1.96M |
| Total Debt | 181.93K | 161.11K | 418.20K | 0.00 | 0.00 |
| Total Liabilities | 607.41K | 597.62K | 848.44K | 325.00K | 342.06K |
| Stockholders Equity | 6.88M | 10.71M | 12.30M | 24.85M | 32.42M |
Cash Flow | |||||
| Free Cash Flow | -1.12M | -1.57M | -1.22M | -2.20M | -1.48M |
| Operating Cash Flow | -1.12M | -1.57M | -1.22M | -2.20M | -1.48M |
| Investing Cash Flow | -453.90K | -406.39K | 151.92K | -1.63M | -2.50M |
| Financing Cash Flow | 1.24M | 1.65M | 431.54K | 2.80M | 3.81M |
Tern plc Technical Analysis
Neutral
0.65
Price Trends
0.92
Positive
0.73
Positive
0.62
Positive
Market Momentum
0.02
Positive
45.59
Neutral
25.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TERN, the sentiment is Neutral. The current price of 0.65 is below the 20-day moving average (MA) of 1.21, below the 50-day MA of 0.92, and above the 200-day MA of 0.62, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 45.59 is Neutral, neither overbought nor oversold. The STOCH value of 25.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:TERN.
Tern plc Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | £200.45M | 82.17 | 5.22% | 0.80% | 19.00% | -53.85% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
58 Neutral | £6.08M | -578.13 | ― | ― | ― | ― | |
54 Neutral | £3.72M | -7.19 | 0.89% | ― | -14.30% | -830.00% | |
46 Neutral | £36.50M | -25.26 | 49.22% | ― | 2.83% | -261.02% | |
44 Neutral | £8.56M | -256.41 | -19.70% | ― | 1240.62% | -8.11% | |
43 Neutral | £2.18M | -0.39 | -586.74% | ― | 2.82% | 70.83% |
* Financial Sector Average
GB:TERN
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1.00
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Tern plc Corporate Events
Business Operations and StrategyFinancial DisclosuresShareholder Meetings
Tern pivots to portfolio value realisation as revised valuations cut reported asset base
Neutral
Jun 23, 2026
Tern plc has published its audited results for 2025 and called a general meeting on 9 July 2026, where shareholders will vote on adopting the accounts, reappointing auditors and approving the directors’ remuneration report. The company is pr...
Stock BuybackPrivate Placements and FinancingRegulatory Filings and ComplianceShareholder Meetings
Tern plc Sets AGM and Seeks Fresh Share Issuance and Buy-Back Powers
Neutral
Jun 8, 2026
Tern plc has called its Annual General Meeting for 9:30 a.m. on 30 June 2026 at the offices of Allenby Capital in London, with the notice and proxy materials made available to shareholders via post and the company’s website. Because its 2025...
Regulatory Filings and Compliance
Tern plc Sets Updated Total Voting Rights at 855.5 Million Shares
Neutral
May 29, 2026
Tern plc has confirmed that its issued ordinary share capital now comprises 855,543,681 ordinary shares, each carrying one voting right, and that it holds no shares in treasury. This disclosure sets the official total of voting rights at 855,543,6...
Business Operations and StrategyPrivate Placements and Financing
Tern Boosts Talking Medicines Stake with New Convertible Loan Notes
Positive
May 26, 2026
Tern plc has increased its exposure to portfolio company Talking Medicines by receiving around £270,000 in new unsecured convertible loan notes, issued in exchange for cancelling approximately £87,000 of existing debt and providing about...
Business Operations and StrategyPrivate Placements and Financing
Tern backs Device Authority with new US$280,000 convertible loan investment
Positive
May 22, 2026
Tern Plc has invested US$280,000 in new unsecured convertible loan notes issued by portfolio company Device Authority, using proceeds from its recent open offer, while maintaining its 25.3% equity stake. The notes, carrying 8% annual interest and ...
Business Operations and StrategyPrivate Placements and Financing
Tern plc raises £222,000 in new IoT-focused share placing
Positive
May 19, 2026
Tern plc, an AIM-quoted investor in Internet of Things technology businesses, has completed a £222,000 equity placing via the issue of 37 million new ordinary shares at 0.60 pence each. The raise follows an earlier open offer and largely uses...
Business Operations and Strategy
Tern’s Portfolio Firm Device Authority Seals IoT Security Deal with Xalient
Positive
May 12, 2026
Tern plc has highlighted that its portfolio company Device Authority has formed a strategic partnership with Xalient, an identity-led cybersecurity services provider, to enhance security for IoT and operational technology devices. The deal integra...
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
Tern plc Secures Shareholder Backing for Open Offer and Capital Raise
Positive
May 8, 2026
Tern plc shareholders approved all resolutions at a general meeting, authorising directors to allot securities and disapply pre-emption rights, enabling completion of a previously announced open offer. The vote clears the way for 67,666,314 new sh...
Private Placements and Financing
Tern Raises £406,000 as Open Offer Draws 63% Take-up
Positive
May 8, 2026
Tern plc reported the outcome of its latest open offer to qualifying shareholders, receiving valid applications for 67.7 million new ordinary shares, or about 63% of the 107.3 million shares available. Subject to shareholder approval at a general ...
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
Tern plc launches discounted open offer to raise up to £643,609
Neutral
Apr 21, 2026
Tern plc has launched an open offer to raise up to £643,609 before expenses via the issue of up to 107.27 million new shares at 0.60p each, a 20% discount to the prior closing price. Qualifying shareholders can subscribe for one new share for...
Regulatory Filings and Compliance
Tern plc Confirms Updated Total Voting Rights and Share Capital
Neutral
Mar 31, 2026
Tern plc has confirmed that its issued ordinary share capital now comprises 750,877,367 ordinary shares, each carrying one voting right, with no shares held in treasury. This figure sets the official total voting rights in the company and will ser...
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.