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GSTechnologies

GST.L
20
Information Technology Services · Technology
Price
0.40 GBp
+0.00 (+0.00%)
Market Cap
9.3M GBp
Exchange
London Stock Exchange
Winston Score
20
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 9, 2026 · filings through Sep 30, 2025

Share count rising — dilution

+68.2% over 4y

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

Diluted shares outstanding: 1.35B (2022) → 2.28B (2026)

GSTechnologies Ltd. is a small technology company listed on the London Stock Exchange that focuses on blockchain and digital infrastructure services. It builds software and platforms that help businesses use blockchain technology to manage data and transactions more securely. The company targets clients in sectors like finance and supply chain that want to modernize how they store and verify information.

GSTechnologies earns revenue by providing technology services and software solutions to business customers, rather than selling physical products. It operates primarily in the UK and international markets, but with a market cap near zero, it is a very early-stage company. The operating margin of nearly -128% shows the company is spending far more than it earns, which is the central risk — it must grow revenue significantly or secure additional funding to remain viable, and investors should be aware that small, pre-profit technology firms like this carry a high risk of failure or heavy dilution.

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

-44.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-266.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

15.6%ownership

Insiders own a meaningful stake in the company

Cash Runway

~7 months

$4M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

GSTechnologies 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

Gross Margin
11.6%
Thin — 11.6% gross margin
Operating Margin
-37.0%
Losing money on operations — -37.0%
ROCE
-5.0%
Weak — -5.0% return on capital

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

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Growth

Sales YoY
-39.7%
Shrinking sales (-39.7% 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
-157.6%
Burning cash (-157.6%)

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

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Stability

Debt / Equity
0.01
Conservative — low debt load (0.01)
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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