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Windar Photonics
(LSE:WPHO)
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Rating:39Underperform
Price Target:
5.50 p
▼(-79.25% Downside)
Action:Reiterated
Date:09/06/26
The score is primarily held down by very weak technicals (price well below all major moving averages and severely depressed momentum indicators) and a challenged financial profile marked by worsening losses and ongoing cash burn. Revenue growth and a currently manageable leverage level provide some support, but negative earnings (reflected in a negative P/E) and lack of demonstrated self-funding keep the overall rating near the low end.
Positive Factors
Revenue growth
Revenue growth indicates improving commercial traction for Windar Photonics’ LiDAR systems and related solutions. Continued expansion can increase operating scale, deepen customer adoption, and provide a foundation for future earnings improvement if the company can control costs as sales grow.
Negative Factors
Worsening profitability
The company is growing revenue without yet converting that growth into sustainable earnings. The deterioration in net margin and continuing operating losses suggest that costs are absorbing commercial progress, limiting internal reinvestment and leaving profitability dependent on a substantial operating improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth
Revenue growth indicates improving commercial traction for Windar Photonics’ LiDAR systems and related solutions. Continued expansion can increase operating scale, deepen customer adoption, and provide a foundation for future earnings improvement if the company can control costs as sales grow.
Read all positive factors
Windar Photonics (WPHO) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£11.88M
Dividend YieldN/A
Average Volume (3M)271.08K
Price to Earnings (P/E)―
Beta (1Y)0.70
Revenue Growth26.04%
EPS Growth-101.19%
CountryUK
Employees29
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-0.02
Shares Outstanding200,636,780
10 Day Avg. Volume813,250
30 Day Avg. Volume271,083
Financial Highlights & Ratios
PEG Ratio-0.35
Price to Book (P/B)6.33
Price to Sales (P/S)8.23
P/FCF Ratio-27.81
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)>-0.01
Revenue Forecast (FY)£7.80M
Windar Photonics Business Overview & Revenue Model
Company Description
Windar Photonics PLC, operating through its various subsidiaries, specializes in the creation and distribution of LiDAR (Light Detection and Ranging) sensors and complementary solutions specifically engineered for electricity-generating wind turbi...
How the Company Makes Money
Windar Photonics makes money primarily by selling its LiDAR sensor hardware and associated solutions to customers in the wind industry. The core revenue stream is product revenue from delivering LiDAR units used on wind turbines to measure wind sp...
Windar Photonics Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
58
Neutral
Cash Flow
26
Negative
| Breakdown | Dec 2025 | Dec 2024 | Jun 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.63M | 4.56M | 4.77M | 1.85M | 551.53K |
| Gross Profit | 2.69M | 2.57M | 2.41M | 946.61K | 446.21K |
| EBITDA | -979.36K | -707.76K | 67.19K | -968.08K | -981.14K |
| Net Income | -1.88M | -906.19K | -182.52K | -1.08M | -1.13M |
Balance Sheet | |||||
| Total Assets | 10.69M | 15.64M | 3.60M | 4.29M | 3.41M |
| Cash, Cash Equivalents and Short-Term Investments | 4.04M | 7.07M | 152.18K | 1.40M | 40.55K |
| Total Debt | 1.61M | 1.43M | 1.88M | 1.85M | 1.74M |
| Total Liabilities | 3.37M | 4.69M | 3.34M | 3.95M | 4.17M |
| Stockholders Equity | 7.32M | 10.95M | 264.92K | 341.12K | -757.38K |
Cash Flow | |||||
| Free Cash Flow | -1.67M | -3.99M | -1.13M | -470.99K | -1.05M |
| Operating Cash Flow | -1.56M | -3.14M | -380.18K | -363.54K | -394.10K |
| Investing Cash Flow | -1.02M | -820.62K | -582.97K | -283.98K | -243.91K |
| Financing Cash Flow | -429.37K | 10.89M | -288.35K | 2.01M | 28.83K |
Windar Photonics Technical Analysis
Negative
26.50
Price Trends
24.85
Negative
26.38
Negative
33.67
Negative
Market Momentum
-4.59
Positive
1.11
Positive
4.05
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:WPHO, the sentiment is Negative. The current price of 26.5 is above the 20-day moving average (MA) of 22.38, above the 50-day MA of 24.85, and below the 200-day MA of 33.67, indicating a bearish trend. The MACD of -4.59 indicates Positive momentum. The RSI at 1.11 is Positive, neither overbought nor oversold. The STOCH value of 4.05 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:WPHO.
Windar Photonics Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £3.76B | 50.69 | 8.06% | 1.53% | 4.99% | -24.08% | |
66 Neutral | £329.82M | 81.69 | 3.33% | 0.81% | 12.73% | -26.74% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | £49.02M | 3.86 | 22.93% | ― | 136.76% | ― | |
54 Neutral | £273.42M | 50.06 | 6.24% | 2.80% | 9.13% | -47.18% | |
49 Neutral | £17.63M | -5.55 | -29.91% | ― | ― | ― | |
39 Underperform | £11.88M | -3.51 | -21.49% | ― | 26.04% | -101.19% |
* Technology Sector Average
GB:WPHO
Windar Photonics
5.60
-52.90
-90.43%
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Windar Photonics Corporate Events
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Windar Photonics Shares to Resume Trading After £5.1m Fundraising
Positive
Aug 28, 2026
Windar Photonics said its £5.1m fundraising has addressed the financial concerns that led to a temporary suspension of its ordinary shares on AIM in June. Trading in the shares will be restored at 7:30 a.m. on 1 September 2026, with the newly...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Windar Photonics Publishes FY25 Annual Report and Sets AGM Date
Neutral
Aug 27, 2026
Windar Photonics has published its audited annual results and financial statements for the year ended 31 December 2025, alongside the notice of its upcoming annual general meeting. The documents have been posted to shareholders and made available ...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Windar Photonics Raises £5.12m After Oversubscribed Retail Offer
Positive
Aug 27, 2026
Windar Photonics has completed a significantly over‑subscribed retail offer, with investor applications exceeding £0.9 million and resulting in an upsized allocation of £245,000. Together with the placing, direct subscriptions and ...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
Windar Photonics Directors Deepen Commitment in AIM Fundraise
Positive
Aug 26, 2026
Windar Photonics has completed a directors’ subscription as part of a wider fundraising, issuing 15,284,334 new shares at 5 pence to raise about £0.76 million and attaching one three‑year warrant per share exercisable at 10 pence....
Business Operations and StrategyExecutive/Board ChangesDelistings and Listing ChangesFinancial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
Windar Photonics Restates China Revenues and Raises £5.1m Amid Record Trial Activity
Negative
Aug 26, 2026
Windar Photonics reported audited 2025 results showing restated revenue of €5.7 million, a 68.5% increase on 2024, and a reduced EBITDA loss of €1.0 million, but disclosed accounting irregularities linked to Chinese distributor sales t...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Windar Photonics launches discounted retail offer ahead of AIM trading resumption
Neutral
Aug 25, 2026
Windar Photonics has launched a retail share offer on the BookBuild platform to raise up to £200,000 through the issuance of up to 4,000,000 new ordinary shares at 5 pence each, a steep discount to the last closing price before its AIM tradin...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Windar Photonics Raises £4.9m in Oversubscribed AIM Fundraising
Positive
Aug 24, 2026
Windar Photonics has completed a significantly oversubscribed placing and direct subscription, raising about £4.055 million before expenses via the issue of 81.1 million new ordinary shares at 5 pence each. Together with the directors’ ...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
Windar Photonics Strengthens Board With Appointment of Senior Independent Director
Positive
Aug 24, 2026
Windar Photonics has announced the conditional appointment of industry veteran Tove Feld as Senior Independent Director and Chair of the Remuneration Committee, effective upon admission of new ordinary shares to AIM following a proposed fundraisin...
Delistings and Listing ChangesFinancial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
Windar Photonics launches £4m equity raise amid accounting probe and AIM suspension
Negative
Aug 24, 2026
Windar Photonics plans to raise at least £4.0 million via a placing, direct subscription and directors’ intended participation, alongside a retail offer of up to £0.2 million to existing shareholders. New shares will be issued at 5...
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
Windar Photonics Wins Shareholder Backing for Expanded Share Issuance Powers
Positive
Aug 7, 2026
Windar Photonics shareholders have approved two key resolutions at a general meeting, giving the board authority to allot new ordinary shares with a nominal value of up to £2.1m, equivalent to about 214% of the current issued share capital. A...
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresPrivate Placements and FinancingProduct-Related AnnouncementsRegulatory Filings and ComplianceShareholder Meetings
Windar Photonics advances major trials and plans equity raise ahead of lifting share suspension
Positive
Aug 5, 2026
Windar Photonics has secured agreements for two additional product trials with significant wind farm operators in Europe and the U.S., taking the number of live trials and turbines involved to the highest level in the company’s history. Thes...
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresPrivate Placements and FinancingRegulatory Filings and ComplianceShareholder Meetings
Windar Photonics Seeks Critical £4m Lifeline After Accounting Irregularities and Order Delays
Negative
Jul 23, 2026
Windar Photonics has called a 7 August general meeting to secure shareholder approval for an equity fundraising of about £4 million, after uncovering accounting irregularities involving roughly €2.8 million of sales to two Chinese distr...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Windar Photonics Slashes 2026 Revenue Outlook as Funding Needs Mount
Negative
Jun 23, 2026
Windar Photonics has reported that, despite its strongest-ever first quarter for new test order activity and a record number of ongoing trials with major independent power producers, revenue for the first five months of 2026 was only about €...
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresRegulatory Filings and Compliance
Windar Photonics Flags Accounting Irregularities, Delays Results and Faces Cash Squeeze
Negative
Jun 17, 2026
Windar Photonics has uncovered potential accounting irregularities involving about €2.8m of revenue recognised across 2024 and 2025, mainly tied to two Chinese customers where the validity of sales and documentation is in question. The board...
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.