MultiSensor AI Holdings

MSAI

Software - Infrastructure · Technology

Price

$5.32

-0.09 (-1.66%)

Market Cap

$5.0M

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+212.4% over 4y

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

Diluted shares outstanding: 299K (2021) → 934K (2025)

MultiSensor AI Holdings is a small technology company that makes industrial monitoring systems combining thermal cameras, gas sensors, and artificial intelligence software. Its products are designed to detect equipment failures, gas leaks, and safety hazards at factories, refineries, and other industrial facilities before they cause accidents or costly shutdowns. The company targets industries like oil and gas, chemicals, and manufacturing.

MultiSensor AI earns revenue by selling its sensor hardware and charging software or subscription fees for its AI-powered analytics platform. The company operates primarily in the United States and is very early-stage, with a market cap near zero and a deeply negative operating margin, meaning it spends far more than it earns. Its main competitive angle is combining multiple sensor types with AI in one integrated system, but the key risk is that it must significantly grow revenue and reduce cash burn before its financial runway runs out.

Winston Score History

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2 trades / 12mo

0 Congressional buys and 2 sells on MSAI in the last 12 months.

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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

+37.9% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+52.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

12.9%ownership

Insiders own a meaningful stake in the company

Cash Runway

~3 years

$23M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$23M cash & investments at current burn rate

Revenue accelerating

MultiSensor AI Holdings grew revenue 38% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

56.6%

Premium pricing power — 56.6% gross margin

Operating Margin

-161.6%

Losing money on operations — -161.6%

ROCE

-8.8%

Weak — -8.8% return on capital

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

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Growth

Sales YoY

-4.8%

Shrinking sales (-4.8% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-130.9%

Burning cash (-130.9%)

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

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Stability

Debt / Equity

N/A

Data not available

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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