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DIAGNOS

ADK.V
22
Medical - Healthcare Information Services · Healthcare
Price
C$0.39
+0.01 (+1.32%)
Market Cap
C$46.4M
Exchange
Toronto Stock Exchange Ventures
Winston Score
22
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 13, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+57.0% over 4y

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

Diluted shares outstanding: 68.7M (2022) → 107.9M (2026)

DIAGNOS Inc. is a small Canadian healthcare technology company that uses artificial intelligence to help detect eye diseases early. Its main product, called CARA, analyzes images of the back of the eye to screen for conditions like diabetic retinopathy, which can cause blindness if not caught in time. The company sells its services to healthcare providers, clinics, and public health programs, primarily in Canada and select international markets.

DIAGNOS makes money by charging fees when its AI software analyzes eye scans, rather than selling hardware. It is a very small company, and its deeply negative margins show it is spending far more than it earns right now. The company's main competitive angle is its specialized AI trained on a large database of retinal images, but it faces stiff competition from larger medical imaging and AI firms with much greater resources. The key risk is whether it can grow its customer base fast enough to reach profitability before running out of funding.

Winston Score History

Growth Profile

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

Revenue Growth

-14.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+25.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$1M/ year

>1,000% of revenue

127.0x the sector average (18%)

Research and development spending

Insider Activity

4.4%ownership

Relatively low insider ownership

Cash Runway

~4 months

$2M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

DIAGNOS 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

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Quality

Gross Margin
6462.8%
Premium pricing power — 6462.8% gross margin
Operating Margin
-7476.6%
Losing money on operations — -7476.6%
ROCE
-61.9%
Weak — -61.9% return on capital

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

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Growth

Sales YoY
-36.9%
Shrinking sales (-36.9% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
-5904.4%
Burning cash (-5904.4%)

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

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Stability

Debt / Equity
1.76
Elevated debt (1.76)
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
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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