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Micro-X Limited engages in the design, development, manufacturing, and commercialization of imaging products for healthcare and security markets through cold cathode X-ray technology in the United States, the Asia-Pacific, Europe, the Middle East, and Africa. The company provides carbon nanotube-based X-ray products, including core X-ray tube and high-voltage generator components; and electronic switching hardware and reconstruction software products. It also provides Rover Plus for medical performance in a mobile system; Head CT, a standard ambulance or retrieval aircraft for stroke; Checkpoints, a modular passenger self-screening checkpoint for airports; Baggage scanner, a CT baggage scanner for passenger self-screening checkpoints; and imaging chains and custom X-ray imaging solutions, as well as engineering contract services and spare parts. The company has a strategic partnership with Billion Prima to develop and commercialize a baggage and parcel scanner product. Micro-X Limited was incorporated in 2011 and is based in Adelaide, Australia.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Micro-X Ltd develops and commercial systems for lightweight X‑ray imaging using carbon nanotube (CNT) X‑ray source technology for medical, security and industrial applications. Long‑term growth drivers include wider commercial adoption of portable, low‑power imaging, regulatory clearances and scaling manufacturing and sales, and investors may find the company attractive for its differentiated, compact X‑ray approach that could enable new form factors and deployment models.
Primary risks include early‑stage commercialisation, dependence on regulatory approvals and external funding, competition from established imaging suppliers and execution risk in scaling production and sales.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2026-06-30 | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2026-06-30 | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 |
| Income before tax | -15.55M | -13.89M | -9.77M | -10.75M | -17.09M |
| Net income | -9.88M | -13.89M | -9.77M | -10.75M | -17.09M |
| Selling general administrative | - | 18.04M | 17.39M | 17.79M | 16.67M |
| Selling and marketing expenses | - | 0.91M | 0.94M | 1.38M | 0.86M |
| Gross profit | -9.15M | 10.32M | 5.74M | 11.50M | 5.00M |
| Reconciled depreciation | - | 1.57M | 1.54M | 1.66M | 1.43M |
| Ebit | - | -13.33M | -15.89M | -10.48M | -16.79M |
| Ebitda | -15.80M | -11.76M | -14.35M | -8.83M | -15.36M |
| Depreciation and amortization | - | 1.57M | 1.54M | 1.66M | 1.43M |
| Operating income | -15.80M | -17.05M | -13.03M | -17.88M | -20.94M |
| Other operating expenses | 30.88M | 30.11M | 28.25M | -5.59M | -8.96M |
| Interest expense | 0.52M | 0.56M | 0.25M | 0.27M | 0.30M |
| Tax provision | - | 0.00M | 0.00M | 0.00M | 0.00M |
| Interest income | - | 0.06M | 0.04M | 0.00M | 0.02M |
| Net interest income | - | -0.50M | -0.21M | -0.27M | -0.28M |
| Income tax expense | -5.67M | - | -6.37M | 7.66M | 4.42M |
| Total revenue | 15.09M | 13.05M | 15.22M | 15.01M | 8.97M |
| Total operating expenses | 6.64M | 27.37M | 18.76M | 29.45M | 25.94M |
| Cost of revenue | 24.24M | 2.73M | 9.48M | 3.50M | 3.97M |
| Total other income expense net | 0.25M | 3.16M | 3.26M | 7.39M | 4.12M |
| Net income from continuing ops | - | -13.89M | -9.77M | -10.75M | -17.09M |
| Net income applicable to common shares | - | -13.89M | -9.77M | -10.75M | -17.09M |
| Breakdown | 2026-06-30 | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2026-06-30 | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 |
| Total assets | 19.72M | 22.11M | 26.89M | 30.30M | 31.28M |
| Intangible assets | 0.01M | 0.02M | - | 0.13M | 0.14M |
| Other current assets | 0.46M | 0.84M | 1.14M | 1.63M | 1.31M |
| Total liab | 14.81M | 14.56M | 12.70M | 13.11M | 11.99M |
| Total stockholder equity | 4.91M | 7.55M | 14.20M | 17.19M | 19.29M |
| Deferred long term liab | - | - | - | 0.05M | 0.06M |
| Other current liab | 5.19M | 0.18M | 5.14M | 4.61M | 4.08M |
| Common stock | - | - | 131.93M | 125.40M | 117.53M |
| Capital stock | - | 138.41M | - | 125.46M | 117.59M |
| Retained earnings | -145.18M | -135.47M | -121.77M | -112.13M | -101.38M |
| Other liab | - | - | - | 0.81M | 0.83M |
| Other assets | - | - | - | 0.05M | 0.06M |
| Cash | 3.14M | 3.24M | 3.23M | 5.22M | 10.30M |
| Cash and equivalents | - | - | - | 5.22M | 10.30M |
| Total current liabilities | 11.31M | 11.31M | 8.63M | 8.32M | 6.48M |
| Current deferred revenue | - | - | 0.26M | 0.50M | 0.46M |
| Net debt | 3.34M | 0.13M | 0.83M | -0.52M | -4.99M |
| Short term debt | 3.73M | - | 0.69M | 0.73M | 0.63M |
| Short long term debt | - | 3.38M | - | - | - |
| Short long term debt total | 6.48M | - | 4.05M | 4.70M | 5.31M |
| Other stockholder equity | 150.09M | - | 0.00M | -13.26M | -16.15M |
| Property plant equipment | - | - | - | 7.73M | 8.39M |
| Total current assets | 15.00M | 17.08M | 19.90M | 22.44M | 22.74M |
| Net tangible assets | - | - | - | 17.11M | 19.14M |
| Net receivables | 7.38M | 2.87M | 10.15M | 7.00M | 3.75M |
| Inventory | 4.02M | 4.27M | 5.38M | 7.34M | 5.78M |
| Accounts payable | 2.38M | 3.28M | 2.54M | 2.48M | 1.30M |
| Accumulated other comprehensive income | - | - | 4.04M | 3.87M | 3.08M |
| Non currrent assets other | - | - | 0.12M | - | - |
| Non current assets total | 4.71M | 5.03M | 7.00M | 7.86M | 8.53M |
| Capital lease obligations | - | 3.16M | - | 4.70M | 5.31M |
| Long term debt total | - | - | - | 3.98M | 4.68M |
| Breakdown | 2026-06-30 | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2026-06-30 | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 |
| Investments | - | -0.10M | -0.37M | -0.78M | -1.11M |
| Change to liabilities | - | - | - | 1.89M | 0.67M |
| Total cashflows from investing activities | -0.14M | -0.10M | -0.37M | -0.78M | -1.11M |
| Net borrowings | - | 3.24M | - | -0.66M | -0.61M |
| Total cash from financing activities | 8.96M | 8.71M | 4.81M | 6.69M | -0.61M |
| Change to operating activities | - | - | - | 0.11M | 0.32M |
| Net income | -9.88M | -13.89M | -9.77M | -10.75M | -17.09M |
| Change in cash | -0.11M | 0.01M | -2.00M | -5.08M | -19.83M |
| Begin period cash flow | 3.24M | 3.23M | 5.22M | 10.30M | 30.14M |
| End period cash flow | 3.14M | 3.24M | 3.23M | 5.22M | 10.30M |
| Total cash from operating activities | -8.92M | -8.59M | -6.43M | -10.99M | -18.11M |
| Issuance of capital stock | - | 6.37M | 5.92M | 7.46M | - |
| Depreciation | - | - | 1.55M | 1.60M | 1.37M |
| Change to inventory | 0.26M | -0.33M | 1.92M | -1.52M | -2.89M |
| Change to account receivables | 1.77M | 1.12M | -1.49M | -3.54M | -2.59M |
| Sale purchase of stock | - | -0.35M | -0.40M | -0.10M | -0.10M |
| Other cashflows from financing activities | -0.72M | -0.54M | -0.72M | -0.66M | -0.61M |
| Change to netincome | - | - | - | 1.23M | 2.04M |
| Capital expenditures | 0.14M | 0.10M | 0.37M | 0.78M | 1.11M |
| Change in working capital | 2.38M | 0.78M | 0.73M | -5.06M | -5.48M |
| Stock based compensation | - | - | 1.07M | 1.23M | 1.95M |
| Other non cash items | -1.43M | -9.37M | -0.02M | -1.84M | -2.39M |
| Free cash flow | -9.07M | -8.69M | -6.80M | -11.77M | -19.22M |
Sector: Healthcare Industry: Medical Devices
|
Stock Name
|
Change
(AUD) |
Price
(AUD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| MX1 Micro-X Ltd |
- -% |
0.03 | - | - | 1.67 | 4.86 | 1.82 | -4.61 |
| COH Cochlear Ltd |
2.26 1.50% |
152.98 | 68.64 | 27.40 | 4.30 | 5.34 | 3.97 | 28.09 |
| IMR Imricor Medical Systems Inc |
0.06 4.72% |
1.33 | - | - | 36401.21 | 17.45 | 4019.33 | -2.60 |
| AVR Anteris Technologies Global Corp |
0.50 5.88% |
9.00 | - | - | 356.02 | 2.19 | 130.34 | -5.20 |
| AVH Avita Medical Inc |
-0.11 2.13% |
5.06 | - | 9.97 | 9.59 | 7.17 | 6.76 | 15.37 |
Micro-X Limited engages in the design, development, manufacturing, and commercialization of imaging products for healthcare and security markets through cold cathode X-ray technology in the United States, the Asia-Pacific, Europe, the Middle East, and Africa. The company provides carbon nanotube-based X-ray products, including core X-ray tube and high-voltage generator components; and electronic switching hardware and reconstruction software products. It also provides Rover Plus for medical performance in a mobile system; Head CT, a standard ambulance or retrieval aircraft for stroke; Checkpoints, a modular passenger self-screening checkpoint for airports; Baggage scanner, a CT baggage scanner for passenger self-screening checkpoints; and imaging chains and custom X-ray imaging solutions, as well as engineering contract services and spare parts. The company has a strategic partnership with Billion Prima to develop and commercialize a baggage and parcel scanner product. Micro-X Limited was incorporated in 2011 and is based in Adelaide, Australia.
| Name | Title | Year Born |
|---|---|---|
| Mr. Peter Robin Rowland BSc., CEng, FAICD, MBA, MIET | MD, CEO & Director | NA |
| Mr. Kingsley Hall BEC | CFO & Company Sec. | NA |
| Mr. Alexander Blackburn BEng (Hons), M.B.A. | Head of Strategy & Planning and GM of X-Ray Cameras | NA |
| Mr. Anthony Skeats MEng (Hons) | Chief Engineer & GM of Computed Tomography | NA |
| Dr. Brian Gonzales | GM of Checkpoints & Chief Imaging Scientist | NA |
| Mr. Charlie Hicks | Gen. Mang. of Mobile Digital Radiology & Division Head | NA |
| Daniel Pini | Gen. Mang. of Core Technology | NA |
| Mr. Dan Ginsburg | Bus. & Operations Mang. | NA |
| Ms. Bree Farrugia | Gen. Counsel | NA |
| Ms. Lois Newman | Head of EMEA Sales- Mobile DR | NA |
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