Norwood Systems Limited

NOR.AX

Software - Application · Technology

Price

A$0.02

-0.00 (-5.56%)

Market Cap

A$8.1M

Exchange

Australian Securities Exchange

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

Share count rising — dilution

+90.9% over 4y

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

Diluted shares outstanding: 252.8M (2021) → 482.5M (2025)

Norwood Systems Limited provides mobile voice, messaging, data, and cyber security services to consumers, enterprises, and carriers in New Zealand, Australia, and internationally. The company offers OpenSpan, keyword voice activation, live language translation, and inline fraud and scam detection services. It also provides CogVoice application services, such as SOHO and SME answering services; and agentic IVR services, as well as voicemail for telecom operators. In addition, the company offers World Voicemail, a visual voicemail app; and SecondLine for business and personal communication from multiple numbers on a single phone. Further, it provides Cognitive Voice platform for communications service provider; and CogVoic call screener, which protects its subscribers from call scammers and spammers. Norwood Systems Limited was founded in 2011 and is based in Nedlands, Australia.

Winston Score History

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

+158.9% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-30.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$103,520/ year

↑ Rising (+270% vs prior year)

5.4% of revenue

Below sector average (15%)

R&D investment increasing — building for the future

Cash Position

Cash flow positive

$37,951 cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Norwood Systems Limited grew revenue 159% 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

-19.2%

Thin — -19.2% gross margin

Operating Margin

-58.4%

Losing money on operations — -58.4%

ROCE

N/A

Data not available

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Growth

Sales YoY

+180.0%

Fast-growing sales (180.0% 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

-6.0%

Burning cash (-6.0%)

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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