Want to see GB:TERN full AI Analyst Report?
Top Page
Tern plc
(LSE:TERN)
Select Model
Select Model
Rating:43Neutral
Price Target:
0.75 p
▼(-37.67% Downside)
Action:Reiterated
Date:09/09/26
The score is driven primarily by weak financial performance (persistent losses and ongoing cash burn) and only modest balance-sheet support from low leverage amid declining equity. Technical indicators add caution with negative MACD and price below key moving averages, while valuation is constrained by a negative P/E and no dividend yield data.
Positive Factors
Focused cybersecurity and IoT portfolio
A focused investment mandate gives Tern exposure to cybersecurity and IoT software, sectors identified in its business description. Concentrating capital and support on these areas can help the company build specialised knowledge and maintain a coherent portfolio strategy over the next several quarters.
Negative Factors
Persistent multi-year losses
Repeated operating and net losses weaken earnings quality and show that the current business model has not consistently converted its activities into profits. Continued losses can erode capital, restrict reinvestment capacity, and make future performance increasingly dependent on portfolio realisations.
Read all positive and negative factors
Positive Factors
Negative Factors
Focused cybersecurity and IoT portfolio
A focused investment mandate gives Tern exposure to cybersecurity and IoT software, sectors identified in its business description. Concentrating capital and support on these areas can help the company build specialised knowledge and maintain a coherent portfolio strategy over the next several quarters.
Read all positive factors
Tern plc (TERN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£7.46M
Dividend YieldN/A
Average Volume (3M)2.26M
Price to Earnings (P/E)―
Beta (1Y)-0.78
Revenue Growth330.50%
EPS Growth-102.94%
CountryUK
Employees6
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding962,140,140
10 Day Avg. Volume2,666,146
30 Day Avg. Volume2,258,502
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)0.61
Price to Sales (P/S)77.30
P/FCF Ratio-3.72
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 primarily makes money through investment returns from its portfolio companies. Its potential revenue and value realisation typically come from: (1) gains on disposals of equity stakes when portfolio companies are sold, merge, or list publ...
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
Negative
1.20
Price Trends
1.15
Negative
1.12
Negative
0.84
Negative
Market Momentum
-0.09
Positive
17.84
Positive
21.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TERN, the sentiment is Negative. The current price of 1.2 is above the 20-day moving average (MA) of 0.94, above the 50-day MA of 1.15, and above the 200-day MA of 0.84, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 17.84 is Positive, neither overbought nor oversold. The STOCH value of 21.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | £213.25M | 87.41 | 5.22% | 0.75% | 19.00% | -53.85% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | £6.41M | 23.10 | 4.92% | ― | ― | ― | |
61 Neutral | £5.05M | -9.93 | -9.46% | 0.61% | -14.30% | -830.00% | |
60 Neutral | £42.58M | -34.01 | 34.82% | ― | 6.07% | -851.52% | |
43 Neutral | £7.46M | -0.96 | -59.29% | ― | 330.50% | -102.94% | |
30 Underperform | £1.36M | -0.24 | -586.74% | ― | 2.82% | 70.83% |
* Financial Sector Average
GB:TERN
Tern plc
0.78
0.30
62.47%
GB:TIDE
Crimson Tide
97.50
38.00
63.87%
GB:DSG
Dillistone
14.50
5.00
52.63%
GB:NET
Netcall
125.00
1.06
0.85%
GB:RDT
Rosslyn Data Technologies
1.15
-2.65
-69.74%
GB:GETB
GetBusy Plc
84.00
5.50
7.01%
Tern plc Corporate Events
Regulatory Filings and Compliance
Tern plc Confirms Total Voting Rights and Share Capital
Positive
Sep 30, 2026
Tern plc has confirmed that its issued ordinary share capital now comprises 962,140,161 ordinary shares, each carrying one voting right, and that it holds no shares in treasury. This updated total voting rights figure provides shareholders and pot...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Tern Plc narrows losses and strengthens balance sheet as portfolio adjusts to tough tech markets
Positive
Sep 29, 2026
Tern Plc reported unaudited interim results for the six months to 30 June 2026, highlighting disciplined financial management and selective investment amid a challenging funding environment for early-stage technology firms. Net assets rose to ...
Private Placements and FinancingRegulatory Filings and Compliance
Tern raises £0.5m after 90% take-up of underwritten open offer
Positive
Sep 23, 2026
Tern plc has reported strong investor support for its underwritten open offer, with qualifying shareholders subscribing for approximately 90% of the 56,596,480 new shares available. The remaining shares will be taken up by underwriter CMC Markets ...
Business Operations and StrategyProduct-Related Announcements
Tern-backed Talking Medicines launches AI tool linking message resonance to prescribing intent
Positive
Sep 16, 2026
Talking Medicines, in which Tern plc holds a 23.8% equity stake, has launched an Intent to Prescribe application within its DrugVoice platform, supported by new partnerships with point-of-care data providers. The tool combines the proprietary Mess...
Business Operations and StrategyPrivate Placements and Financing
Tern plc launches underwritten open offer to fund patient exit strategy
Neutral
Sep 7, 2026
Tern plc has launched an underwritten open offer to raise about £509,368 via the issue of 56,596,480 new shares at 0.90p, a 25% discount to the recent market price. All qualifying shareholders can subscribe on a 1-for-16 basis, with CMC Marke...
Business Operations and StrategyPrivate Placements and Financing
Tern plc Clears Loan Facility, Strengthening Financial Flexibility
Positive
Aug 3, 2026
Tern plc has fully repaid the outstanding principal and accrued interest of £125,957.26 under a loan facility first agreed in June 2023 and last amended in March 2026. With this repayment, the company has cleared all obligations under the fac...
Regulatory Filings and Compliance
Tern plc Confirms Total Voting Rights at 905.5 Million Shares
Neutral
Jul 31, 2026
Tern plc has confirmed that its issued ordinary share capital now comprises 905,543,681 ordinary shares, each carrying one voting right, and that it holds no shares in treasury. This total voting rights figure provides the key denominator for inve...
Business Operations and StrategyPrivate Placements and Financing
Tern boosts Talking Medicines stake and raises shareholder payout commitment
Positive
Jul 28, 2026
Tern plc has invested £117,195 in new unsecured convertible loan notes issued by portfolio company Talking Medicines, doubling its economic exposure through an uplifted principal value of £234,389 while maintaining its 23.8% equity stake...
Business Operations and StrategyPrivate Placements and Financing
Tern plc raises £450,000 in discounted share placing to support IoT portfolio
Neutral
Jul 15, 2026
Tern plc has raised £450,000 through a placing of 50 million new shares at 0.90 pence, a roughly 31% discount to the prior mid-market price, with an investment management group. The issue represents about 5.5% of the enlarged share capital an...
Business Operations and StrategyShareholder Meetings
Tern Plc shareholders back all resolutions at general meeting
Positive
Jul 9, 2026
Tern Plc, the AIM-listed investor in Internet of Things technology businesses, concentrates on building value in high-growth IoT ventures that provide connected device technologies and related digital services. The company positions itself as a sp...
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.