KNOREX LTD. (KNRX) AI Stock Analysis
KNRX AI stock analysis summary
AI ResearchKnorex Ltd. (KNRX) is a Singapore-based provider of programmatic advertising software and solutions for marketers. The company saw its revenue decline 44.2% in FY2025 to $6.0M while generating a net loss of -$11.5M. With cash and short-term investments of $129,104 against total debt of $7.1M as of December 31, 2025, the company faces significant balance sheet pressure.
- Market cap
- $5.3M
- Revenue (TTM)
- $6.0M
- P/E
- —
- 1Y return
- -90.5% S&P 500 16.8%
- Avg. target
- —
Bull case
- Gross margin improved steadily from 31.1% in FY2021 to 48.8% in FY2025.
- The stock trades at a price-to-sales ratio of 0.9x, well below the US-listed Technology peer median of 2.8x.
- Company insiders hold a significant alignment stake with 45.2% ownership of the shares.
Bear case
- Revenue fell 44.2% in FY2025 to $6.0M, alongside a quarterly revenue drop of 39.7% year-over-year.
- The company burned -$11.1M in free cash flow in FY2025 and held only $129,104 in cash against $7.1M in total debt.
- Shareholders' equity is negative at -$6.5M with a current ratio of 0.42 as of December 31, 2025.
What KNOREX LTD. does
Knorex Ltd. is a B2B technology company specializing in programmatic advertising products and solutions designed to streamline and automate marketing workflows. Operating in the United States, Singapore, Vietnam, India, and Malaysia, its cloud-based software automates ad purchasing, acquires ad placements, and optimizes digital campaigns. Its flagship platform, Knorex XPO, provides a self-service cloud interface for omnichannel advertising across search, social media, apps, websites, desktop, mobile, connected televisions, streaming devices, and digital billboards. The company also offers creative design support, technical development, software testing, and quality control services.
Growth and profitability
Revenue expanded from $4.2M in FY2021 to a peak of $10.8M in FY2024 before falling 44.2% to $6.0M in FY2025, yielding a 4-year revenue CAGR of 9.6%. For the latest quarter ended December 31, 2025, quarterly revenue declined 39.7% year-over-year. Despite the top-line drop, gross margin widened from 31.1% in FY2021 to 48.8% in FY2025. However, profitability worsened substantially in FY2025, with an operating margin of -155.5% and a net loss of -$11.5M, compared to an operating margin of -50.9% and a net loss of -$5.9M in FY2024. Over the trailing twelve months, operating margin stood at -179.4% with an EPS of -$0.41.
Balance sheet and cash flow
As of December 31, 2025, Knorex held $129,104 in cash and short-term investments against $7.1M in total debt, leaving net debt at $6.9M. The company ended the period with negative shareholders' equity of -$6.5M and a current ratio of 0.42. Total assets stood at $7.0M. For FY2025, operating cash flow was -$10.4M and free cash flow was -$11.1M. Capital expenditures totaled $714,523, and the company deployed $2.3M toward share buybacks during the fiscal year.
Valuation and performance
Knorex trades at a market capitalization of $5.3M and an enterprise value of $16.8M. The stock trades at a price-to-sales multiple of 0.9x, which is below the 2.8x median of its US-listed Technology peers. Its enterprise value-to-revenue ratio is 2.8x. Over the past year, KNRX shares declined 90.5%, significantly underperforming the S&P 500 (SPY), which gained 16.8%. The stock is down 88.8% year-to-date and closed at $0.17 on October 16, 2026, sitting 78.7% below its 200-day average.
What analysts expect
Knorex is not currently covered by sell-side analyst consensus ratings or price targets. The company has no upcoming earnings date scheduled following its latest reported quarter ended December 31, 2025. Institutional ownership sits at 0.6%, while insider holdings account for 45.2% of the company's equity, and short interest represents 2.3% of the float.
Key risks and what to watch
- Liquidity risk is elevated given cash of $129,104 compared to net debt of $6.9M as of December 31, 2025.
- Operating cash outflow reached -$10.4M in FY2025 while operating margins plunged to -155.5%.
- Shareholder equity is negative at -$6.5M, leaving no equity cushion against continuing net losses.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this KNRX AI stock analysis
This page is an AI-written research summary of KNOREX LTD. (KNRX). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: KNRX income statement, KNRX balance sheet, KNRX key metrics, KNRX chart. See the KNRX stock overview for the latest quote and news.
KNRX AI stock analysis FAQ
What is Knorex's core product?
Knorex's flagship product is Knorex XPO, a self-service enterprise cloud platform designed to automate and manage omnichannel advertising campaigns across search, social media, apps, websites, and connected TVs.
How did Knorex perform financially in FY2025?
In FY2025, revenue fell 44.2% to $6.0M, while net losses expanded to -$11.5M from -$5.9M in FY2024. Operating cash flow stood at -$10.4M.
What is Knorex's debt and cash position?
As of December 31, 2025, Knorex held $129,104 in cash and short-term investments and $7.1M in total debt, resulting in net debt of $6.9M and a current ratio of 0.42.
Does Knorex pay a dividend?
Knorex does not pay a dividend. In FY2025, the company allocated $2.3M to share buybacks and $714,523 to capital expenditures.