EBR SYSTEMS INC (EBR)
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EBR

EBR - EBR SYSTEMS INC

FNArena Sector : Medical Equipment & Devices
Year End: December
GICS Industry Group : Health Care Equipment & Services
Debt/EBITDA: -1.24
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.685

24 Mar
2026

0.015

OPEN

$0.68

2.24%

HIGH

$0.70

410,874

LOW

$0.66

TARGET
$2.235 226.3% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
EBR: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) - 13.9 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio N/A xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) N/A xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
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Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-18.1
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx2.5 M
Book Value Per Share xxxxxxxxxxxxxxx8.5
Net Operating Cash Flow xxxxxxxxxxxxxxx-82.5 M
Net Profit Margin xxxxxxxxxxxxxxx-3,015.34 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-194.61 %
Return on Invested Capital xxxxxxxxxxxxxxx-65.82 %
Return on Assets xxxxxxxxxxxxxxx-57.15 %
Return on Equity xxxxxxxxxxxxxxx-194.61 %
Return on Total Capital xxxxxxxxxxxxxxx-61.50 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-88.2 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx2 M
Long Term Debt xxxxxxxxxxxxxxx86 M
Total Debt xxxxxxxxxxxxxxx88 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx80 M
Price To Book Value xxxxxxxxxxxxxxx10.50

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx5.7 M
Capex % of Sales xxxxxxxxxxxxxxx227.77 %
Cost of Goods Sold xxxxxxxxxxxxxxx2 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx72 M
Research & Development xxxxxxxxxxxxxxx37 M
Investments - Total xxxxxxxxxxxxxxx5 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

20/03/2026

1

Buy

$2.00

191.97%

EBR Systems reported an EBITDA loss that was largely in line with Bell Potter's estimates for the 2025 year. Gross margins are expected to decline in 2026 to reflect current inventory costs before rising again in 2027.

Reflecting on training and hospital administration concerns, the broker adjusts estimates, reducing unit volume forecasts by -32.8% and -37.5% for 2026 and 2027, respectively.

Operating expenditure assumptions are also increased given the rate of commercial activity. Buy. Target is reduced to $2.00 from $2.43.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -14.84 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -13.18 cents.
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

23/03/2026

1

Buy

$2.43

254.74%

Management at EBR Systems delivered strong FY25 execution, assesses Canaccord Genuity. The commercial rollout of the WiSE device is tracking ahead of the broker's expectation despite weaker market sentiment.

The analysts note 30 implants generated US$1.6m revenue, with pricing stable and training metrics indicating growing clinician adoption and future demand.

The broker explains growth potential derives from expanding use cases, strong physician interest and upside to forecasts, albeit constrained by training capacity.

Canaccord lowers its target price to $2.43 from $2.48 and retains a Buy rating.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -22.41 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -21.20 cents.
Access Extra Coverage Research History >

EBR STOCK CHART

FNArena News on EBR

1
FNArena Corporate Results Monitor – 25-03-2026

10:30 AM - Australia
2
Australian Broker Call *Extra* Edition – Mar 23, 2026

Mar 23 2026 - Daily Market Reports
3
Rudi’s View: Post-February Conviction Calls

Mar 12 2026 - Rudi's View
4
Rudi’s View: Copper, Aluminium & Technology (!)

Dec 11 2025 - Rudi's View
5
Australian Broker Call *Extra* Edition – Nov 19, 2025

Nov 19 2025 - Daily Market Reports

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