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OIO

OIO
8
Waste Management · Financial Services
Price
$1.98
-0.10 (-4.81%)
Market Cap
$27.6M
Exchange
NASDAQ Capital Market
Winston Score
8
Winston is worried
Weak fundamentals across most pillars.
Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.
Data as of Jul 25, 2026 · filings through Jun 30, 2023

Share count rising — dilution

+274.6% over 4y

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

Diluted shares outstanding: 3.7M (2021) → 14.0M (2025)

OIO Group is a small company operating in the waste management space, focused on providing environmental and recycling-related services. It targets businesses and municipalities that need help handling, processing, or disposing of waste materials in a more sustainable way. The company appears to be in an early or transitional stage, working to build out its service offerings in this sector.

OIO Group generates revenue through service contracts and fees tied to waste collection or processing activities. Its negative gross and operating margins suggest the business is currently spending significantly more than it earns, which is common for early-stage companies still scaling operations. The main risk facing OIO Group is its financial sustainability — with a negative return on invested capital and slim revenue base, it will need to either grow revenue quickly or reduce costs substantially to reach profitability, and it may rely on outside funding to continue operating in the near term.

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

Revenue data limited

EPS Growth

+327.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

59.7%ownership

Insiders own a meaningful stake in the company

Cash Runway

~3 months

$533,609 cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

OIO 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
-38.7%
Thin — -38.7% gross margin
Operating Margin
-84.7%
Losing money on operations — -84.7%
ROCE
-28.7%
Weak — -28.7% return on capital

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

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Growth

Sales YoY
-4.4%
Shrinking sales (-4.4% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
N/A
Data not available

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
-34.4%
Burning cash (-34.4%)

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

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Stability

Debt / Equity
0.26
Conservative — low debt load (0.26)
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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