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NanoXplore Inc
(TSX:GRA)
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Rating:49Neutral
Price Target:
C$1.00
▼(-36.71% Downside)
Action:Reiterated
Date:09/17/26
The score is held down primarily by weak financial performance—ongoing losses, a sharp gross margin step-down in 2026, and renewed operating/FCF cash burn—plus a technically weak price trend below major moving averages. These negatives are partly offset by a constructive earnings call with specific guidance for higher fiscal 2027 revenue, lower CapEx, and a target of positive free cash flow, while valuation remains only moderately supportive due to negative earnings and no dividend.
Positive Factors
Capacity, IP and regulatory position
Large-scale production capacity, an extensive patent portfolio, and regulatory authorization across three major markets create durable barriers to entry. This platform can support customer qualification, commercial scale-up, and broader adoption while reducing regulatory friction as graphene applications expand.
Negative Factors
Persistent losses and margin pressure
Sustained operating and net losses show that the current revenue base has not yet produced dependable profitability. The sharp gross-margin decline also indicates that pricing, product mix, or input-cost pressure can materially affect earnings until higher-margin applications become a larger share of sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Capacity, IP and regulatory position
Large-scale production capacity, an extensive patent portfolio, and regulatory authorization across three major markets create durable barriers to entry. This platform can support customer qualification, commercial scale-up, and broader adoption while reducing regulatory friction as graphene applications expand.
Read all positive factors
NanoXplore Inc (GRA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$203.27M
Dividend YieldN/A
Average Volume (3M)138.83K
Price to Earnings (P/E)―
Beta (1Y)0.74
Revenue Growth-9.03%
EPS Growth-18.20%
CountryCA
Employees363
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-0.07
Shares Outstanding181,487,400
10 Day Avg. Volume98,008
30 Day Avg. Volume138,827
Financial Highlights & Ratios
PEG Ratio-1.75
Price to Book (P/B)2.77
Price to Sales (P/S)2.73
P/FCF Ratio-12.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$1.98Price Target Upside25.00% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)-0.04
Revenue Forecast (FY)C$137.57M
NanoXplore Inc Business Overview & Revenue Model
Company Description
NanoXplore Inc., a specialist in graphene technology, focuses on manufacturing and distributing graphene powder for a wide array of industrial applications. The company's diverse portfolio of graphene-based solutions encompasses its proprietary Gr...
How the Company Makes Money
NanoXplore makes money primarily by selling graphene-related materials and engineered formulations to industrial customers. Key revenue streams include: (1) Sales of graphene powder: revenue generated from manufacturing and supplying graphene as a...
NanoXplore Inc Earnings Call Summary
Earnings Call Date:Sep 15, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call was predominantly positive, with management highlighting record safety performance, strong product and commercial advancements, a $35 million pipeline, multiple high-margin growth opportunities, improving fourth-quarter product revenue and margins excluding tooling, positive cash flow, reduced future CapEx and expectations for record fiscal 2027 revenue and free cash flow. The main negatives were lower full-year revenue and EBITDA, raw-material-driven margin pressure, elevated working capital, delayed Volvo programs and the slower-than-expected TriboGraf commercialization timeline.Positive Updates
Strongest Position in Company History
Management stated that NanoXplore is in the strongest position it has ever been, supported by a solid cash position, a robust $35 million pipeline of graphene-enhanced solutions business launching over the next 18 months, and high-margin graphene opportunities across multiple end markets.
Negative Updates
Slower Than Expected TriboGraf Rollout
CP Chem lost a major prospective customer because of commercial issues on the customer's side rather than NanoSlide's performance. Although every customer that has completed lab testing validated the product's performance, the pace of rollout has been slower than initially expected, and management stated that the timing of field well trials and scaled adoption remains uncertain.
Read all updates
Q4-2026 Updates
Positive
Negative
Strongest Position in Company History
Management stated that NanoXplore is in the strongest position it has ever been, supported by a solid cash position, a robust $35 million pipeline of graphene-enhanced solutions business launching over the next 18 months, and high-margin graphene opportunities across multiple end markets.
Read all positive updates
Company Guidance
For fiscal year 2027, CapEx is expected to represent less than $1 million per quarter as a run rate, Q1 revenues are expected to range between $30.5 million and $31 million, an increase of 32% versus last year, and full year revenue growth is anticipated between 11% and 20% with revenues between $130 million and $140 million and positive free cash flow, which would be record highs for NanoXplore; Q1 margins are expected to be softer by about 50 basis points, followed by 150 basis points of growth from Q1 forward to possibly get to 200 basis points by the end of the year, by Q4, with an average of 100-something, 150 over the whole year impact year-over-year, while fiscal year 2028 revenues are expected between $160 million and $170 million, barring any unforeseen circumstances.NanoXplore Inc Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
58
Neutral
Cash Flow
27
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 115.04M | 128.92M | 128.60M | 122.70M | 92.33M |
| Gross Profit | 16.34M | 30.73M | 20.75M | 15.41M | 9.38M |
| EBITDA | 2.02M | 3.07M | 1.44M | -2.47M | -7.18M |
| Net Income | -11.83M | -9.66M | -11.66M | -12.80M | -15.54M |
Balance Sheet | |||||
| Total Assets | 187.53M | 151.20M | 159.69M | 165.25M | 167.26M |
| Cash, Cash Equivalents and Short-Term Investments | 25.05M | 18.59M | 26.50M | 36.21M | 51.23M |
| Total Debt | 48.43M | 22.62M | 20.84M | 24.57M | 29.33M |
| Total Liabilities | 74.08M | 51.85M | 52.04M | 48.97M | 49.73M |
| Stockholders Equity | 113.45M | 99.36M | 107.65M | 116.28M | 117.53M |
Cash Flow | |||||
| Free Cash Flow | -25.85M | -7.26M | -5.35M | -5.72M | -24.17M |
| Operating Cash Flow | -12.58M | 5.95M | 4.42M | 2.45M | -20.11M |
| Investing Cash Flow | -13.33M | -12.03M | -10.65M | -9.84M | -5.74M |
| Financing Cash Flow | 32.33M | -1.94M | -3.50M | -7.66M | 26.55M |
NanoXplore Inc Technical Analysis
Negative
1.58
Price Trends
1.47
Negative
1.54
Negative
1.86
Negative
Market Momentum
-0.09
Positive
25.73
Positive
19.49
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GRA, the sentiment is Negative. The current price of 1.58 is above the 20-day moving average (MA) of 1.32, above the 50-day MA of 1.47, and below the 200-day MA of 1.86, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 25.73 is Positive, neither overbought nor oversold. The STOCH value of 19.49 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:GRA.
NanoXplore Inc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | C$1.64B | 10.96 | 19.27% | 4.89% | 12.36% | 20.53% | |
63 Neutral | C$6.97B | 56.93 | 3.50% | 1.14% | 18.11% | -70.04% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | C$203.27M | -16.74 | -10.72% | ― | -9.03% | -18.20% | |
41 Neutral | C$12.67M | -1.23 | -24.18% | ― | ― | -51.53% |
* Basic Materials Sector Average
TSE:GRA
NanoXplore Inc
1.12
-1.25
-52.74%
TSE:MX
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90.11
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85.63%
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13.98%
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0.73
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TSE:FRXI.H
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0.00
0.00%
TSE:SWAN
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0.76
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-33.91%
NanoXplore Inc Corporate Events
Business Operations and StrategyFinancial Disclosures
NanoXplore Sets November 10 Webcast for First‑Quarter 2026 Results
Positive
Oct 26, 2026
NanoXplore Inc., a leading global producer of graphene materials and graphene‑enhanced composites, will release its financial results for the first quarter ended September 30, 2026, after markets close on November 10, 2026. Management will d...
Business Operations and Strategy
NanoXplore Joins Canada’s Defence Drone Supplier Pool With Graphene Technologies
Positive
Sep 17, 2026
NanoXplore Inc., a leading graphene manufacturer with extensive patent protection and regulatory approvals, supplies graphene-enhanced plastic and composite products as well as silicon-graphene lithium-ion batteries to a wide range of industrial, ...
Business Operations and StrategyFinancial Disclosures
NanoXplore Schedules Webcast to Review Fourth-Quarter 2026 Results
Neutral
Aug 31, 2026
NanoXplore Inc., a Montreal-based advanced materials company, is the world’s largest producer of high-quality, cost-effective graphene, supporting a 4,000 metric ton annual capacity. It delivers graphene powders and graphene-enhanced plastic...
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.