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Baylin Tech (BYL) AI Stock Analysis
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Baylin Tech
(TSX:BYL)
The score is held down primarily by weak financial performance (sharp TTM revenue contraction, ongoing losses, and materially negative operating/free cash flow) and bearish technicals (price below key moving averages with negative MACD). These are partially offset by a more constructive earnings-call outlook driven by record backlog, Kaelus-driven order momentum, improved gross margin, and sustained positive adjusted EBITDA, though near-term integration and demand risks remain.
Baylin Tech (BYL) vs. iShares MSCI Canada ETF (EWC)
- Market Cap
- CAD 20.61M
- Dividend Yield
- ―
- Average Volume (3M)
- 88.54K
- Price to Earnings (P/E)
- -2.4
- Beta (1Y)
- 0.89
- Revenue Growth
- -11.78%
- EPS Growth
- -85.38%
- Country
- Canada
- Employees
- 225
- Sector
- Technology
- Sector Strength
- 61
- Industry
- Communication Equipment
Baylin Tech Business Overview & Revenue Model
Company Description
Baylin Technologies Inc., a Toronto, Canada-based company established in 1978, is a comprehensive developer, manufacturer, and seller of advanced radio frequency (RF) and satellite communication products, along with related support services. The comp...
How the Company Makes Money
Baylin Tech primarily generates revenue by selling antennas and related RF products and solutions to customers (e.g., equipment makers, network operators, and other industrial customers) on a contract/manufacturing and product-sales basis. Key revenu...
Baylin Tech Earnings Call Summary
The call presented a balanced message: strong strategic and operational positives including a transformational Kaelus acquisition, record backlog (up ~199%), improved gross margins and a tenth consecutive quarter of positive adjusted EBITDA. Offsetting these were near-term financial impacts — Q2 and YTD revenue declines, lower adjusted EBITDA year-to-date, a Q2 net loss driven by acquisition expenses and FX, and integration and macro risks. Management framed the negatives as largely transitional and highlighted the backlog and Kaelus order momentum as drivers for H2 2026 and 2027 growth.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management kept its 2026 outlook stable and gave directional guidance that Kaelus will outperform its internal H2 budget and largely convert its contribution to revenue in 2026 — Kaelus booked $12.6M of new POs in its first month and helped drive a record backlog of $61M (up from $20.4M at year-end) — while SATCOM should see a stronger H2 (about half of the recent SATCOM backlog bump converting this year and the other half into early 2027) though full-year SATCOM will be below 2025; custom antennas are expected to be comparable to 2025 with improved margins; longer-term, meaningful carrier infrastructure spending is expected to resume in 2027. Key Q2/Q2‑YTD metrics referenced alongside this guidance included Q2 revenue $22.0M, gross margin 47.1%, gross profit $10.4M, adjusted EBITDA $3.0M (10th consecutive positive quarter), Q2 net loss $3.2M (driven by ~$2.1M acquisition expenses), 6‑month revenue $38.1M, YTD adjusted EBITDA $3.1M, YTD gross margin 44.8%, net debt $11.1M (down $1.3M from Dec 31), recognition of $1.3M tariff refunds, and the Kaelus purchase consideration of $47.4M (reported as $10.6M cash, $21.6M deferred cash, $15.2M share capital).
Baylin Tech Financial Statement Overview
Summary
Overall fundamentals remain weak. The income statement shows a sharp TTM revenue decline (~-59.5%) with ongoing losses (thin EBITDA margin ~0.9% and net margin ~-6.7%). The balance sheet has improved with equity back to positive (~$20.4M), but leverage remains meaningful (TTM debt ~$32.0M). Cash flow is the largest concern with materially negative TTM operating cash flow and free cash flow (about -$5.7M and -$5.8M).
Income Statement
28NegativeBalance Sheet
34NegativeCash Flow
18Very Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 73.07M | 76.31M | 83.59M | 73.04M | 120.86M | 102.49M |
| Gross Profit | 32.64M | 33.49M | 34.39M | 28.40M | 32.91M | 15.11M |
| EBITDA | 177.00K | 1.19M | -1.79M | 190.00K | -1.64M | -46.28M |
| Net Income | -9.14M | -4.67M | -7.85M | -13.85M | -16.88M | -67.42M |
Balance Sheet | ||||||
| Total Assets | 123.22M | 45.38M | 49.17M | 59.71M | 74.38M | 93.03M |
| Cash, Cash Equivalents and Short-Term Investments | 12.63M | 12.56M | 5.01M | 4.90M | 7.38M | 19.67M |
| Total Debt | 32.03M | 22.32M | 30.68M | 28.66M | 44.83M | 48.76M |
| Total Liabilities | 102.87M | 57.03M | 57.69M | 59.75M | 77.64M | 81.25M |
| Stockholders Equity | 20.36M | -11.65M | -8.52M | -36.00K | -3.26M | 11.78M |
Cash Flow | ||||||
| Free Cash Flow | -5.82M | 303.00K | 327.00K | -7.39M | -6.74M | -8.29M |
| Operating Cash Flow | -5.72M | 360.00K | 464.00K | -7.08M | -4.98M | -6.88M |
| Investing Cash Flow | -2.29M | -57.00K | -137.00K | -33.00K | -1.74M | -1.41M |
| Financing Cash Flow | 16.14M | 7.36M | -566.00K | 4.85M | -6.59M | 16.86M |
Baylin Tech Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BYL, the sentiment is Negative. The current price of 0.14 is below the 20-day moving average (MA) of 0.19, below the 50-day MA of 0.21, and below the 200-day MA of 0.26, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 22.45 is Positive, neither overbought nor oversold. The STOCH value of 17.27 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:BYL.
Baylin Tech Peers Comparison
Overall Rating
TSE:BEW65Neutral- TSE:BYL45Neutral
TSE:CMI43Neutral
TSE:YFI39Underperform
TSE:IMI38Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TSE:BEW | 65Neutral | CAD 68.33M | 33.33 | 14.53% | ― | 10.20% | 223.08% |
| Sector * | 61Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
| TSE:BYL | 45Neutral | CAD 37.99M | -2.42 | 252.15% | ― | -11.78% | -85.38% |
| TSE:CMI | 43Neutral | CAD 36.34M | -93.48 | -1.69% | ― | -26.68% | -92.00% |
| TSE:YFI | 39Underperform | CAD 8.62M | -6.03 | 108.98% | ― | ― | 39.80% |
| TSE:IMI | 38Underperform | CAD 9.55M | -1.78 | -139.67% | ― | ― | ― |
* Technology Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TSE:BYL | Baylin Tech | 0.14 | -0.17 | -56.45% | |
| TSE:BEW | BeWhere Holdings | 0.70 | -0.13 | -15.66% | |
| TSE:CMI | C-Com Satellite Systems | 0.86 | -0.05 | -5.49% | |
| TSE:IMI | Lite Access Technologies | 0.06 | -0.05 | -47.62% | |
| TSE:YFI | Edgewater Wireless Systems | 0.04 | -0.01 | -30.00% |
Baylin Tech Corporate Events
Baylin Technologies Posts Record Backlog as Kaelus Deal Reshapes RF Portfolio
PositiveBaylin Technologies reported second‑quarter 2026 results that underscore a strategic shift toward growth driven by acquisitions and Satcom demand. The company completed its purchase of Kaelus AB at the end of May, creating a unified end‑t...
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: Oct 30, 2026