Echo IQ Limited

EIQ.AX

Other Precious Metals · Basic Materials

Price

A$1.54

-0.01 (-0.96%)

Market Cap

A$1.14B

Exchange

Australian Securities Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

Track this stock — start free trial

Share count rising — dilution

+111.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 276.9M (2021) → 585.7M (2025)

Winston Score History

The full picture

Echo IQ Limited is an Australian technology company that builds artificial intelligence software for analyzing heart scans. Its main product helps doctors read echocardiograms — ultrasound images of the heart — faster and more accurately. The company sells its tools to hospitals and cardiology clinics, primarily in Australia and the United States.

Echo IQ makes money by licensing its software to healthcare providers, though it is still in an early stage and is not yet profitable. The deeply negative margins reflect a pre-revenue or near-zero-revenue business that is spending heavily on development and regulatory approvals. Getting clearance from health regulators like the US FDA is the central hurdle the company must clear to grow, and failure to secure or maintain those approvals would be the biggest risk to its future.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-10.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-22.9% YoY

YoY Growth Rate

Earnings declining

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

12.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~6 months

A$11M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Echo IQ Limited has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

-7998.6%

Thin — -7998.6% gross margin

Profit after running costs

Operating Margin

-9855.4%

Losing money on operations — -9855.4%

Return on the money invested

ROCE

-95.2%

Weak — -95.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

-30.0%

Shrinking sales (-30.0% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-9174.0%

Burning cash (-9174.0%)

Free cash flow is negative. They are burning cash, not generating it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

—

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial