Optiscan Imaging Limited

OIL.AX

Hardware, Equipment & Parts · Technology

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

Good

Valuation

Data not available

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Winston Score History

The full picture

Optiscan Imaging Limited is an Australian medical technology company that makes high-powered microscopes used during surgery. Its main product is a confocal endomicroscope — a tiny camera that lets surgeons see living tissue at the cellular level in real time, without removing a sample. The technology is used in hospitals, primarily by surgeons and researchers, and Optiscan holds key patents on its core imaging approach.

The company earns revenue by selling its imaging devices and through partnerships with larger medical equipment makers, including a notable collaboration with Carl Zeiss Meditec. Optiscan operates mainly in Australia and Europe, and its market cap sits around $100 million, reflecting its early-stage commercial position. The deeply negative operating margin shows the company is spending far more than it earns, which is common for small medical device firms still building sales volume — the main risk is whether it can grow revenue fast enough before needing to raise more capital from shareholders.

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

-56.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-51.6% YoY

YoY Growth Rate

Earnings declining

Insider Activity

49.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~5 months

A$5M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Optiscan Imaging 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.

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Quality

Profit per sale

Gross Margin

-5.3%

Thin — -5.3% gross margin

Profit after running costs

Operating Margin

-1391.9%

Losing money on operations — -1391.9%

Return on the money invested

ROCE

-36.7%

Weak — -36.7% return on capital

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

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Growth

Sales growth

Sales YoY

-74.1%

Shrinking sales (-74.1% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-532.2%

Burning cash (-532.2%)

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

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Stability

What it owes vs what it owns

Debt / Equity

0.07

Conservative — low debt load (0.07)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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