As Australian shares edge towards a slight dip, global markets remain on edge awaiting the Federal Reserve's anticipated rate cut decision. Amidst these market fluctuations, the term "penny stocks" may seem outdated, yet they continue to offer intriguing opportunities for investors seeking affordable entry points with growth potential. In this article, we explore several penny stocks that stand out for their financial strength and potential to thrive in today's economic landscape.
Top 10 Penny Stocks In Australia
| Name | Share Price | Market Cap | Rewards & Risks |
| Alfabs Australia (ASX:AAL) | A$0.515 | A$147.59M | ✅ 4 ⚠️ 3 View Analysis > |
| EZZ Life Science Holdings (ASX:EZZ) | A$2.27 | A$107.08M | ✅ 2 ⚠️ 2 View Analysis > |
| Dusk Group (ASX:DSK) | A$0.82 | A$51.06M | ✅ 4 ⚠️ 2 View Analysis > |
| IVE Group (ASX:IGL) | A$2.69 | A$415.94M | ✅ 4 ⚠️ 3 View Analysis > |
| MotorCycle Holdings (ASX:MTO) | A$3.57 | A$263.49M | ✅ 4 ⚠️ 2 View Analysis > |
| Pureprofile (ASX:PPL) | A$0.041 | A$47.96M | ✅ 3 ⚠️ 1 View Analysis > |
| Veris (ASX:VRS) | A$0.074 | A$38.31M | ✅ 4 ⚠️ 2 View Analysis > |
| West African Resources (ASX:WAF) | A$3.04 | A$3.47B | ✅ 4 ⚠️ 1 View Analysis > |
| Praemium (ASX:PPS) | A$0.765 | A$365.83M | ✅ 5 ⚠️ 2 View Analysis > |
| Service Stream (ASX:SSM) | A$2.34 | A$1.43B | ✅ 3 ⚠️ 1 View Analysis > |
Click here to see the full list of 437 stocks from our ASX Penny Stocks screener.
We'll examine a selection from our screener results.
Cleo Diagnostics (ASX:COV)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: Cleo Diagnostics Ltd is a biotechnology company that develops and commercializes non-invasive blood tests for detecting ovarian cancer in Australia, with a market cap of A$57.83 million.
Operations: Cleo Diagnostics generates revenue from its Medical Labs & Research segment, amounting to A$0.85 million.
Market Cap: A$57.83M
Cleo Diagnostics Ltd, a biotechnology firm focused on ovarian cancer detection, remains pre-revenue with A$0.85 million in revenue and a market cap of A$57.83 million. Despite its unprofitability and negative return on equity, the company benefits from being debt-free with sufficient cash runway for over a year and short-term assets exceeding liabilities. Recent earnings reported a net loss of A$4 million for the year ended June 2025. The management team is considered experienced, although the board lacks tenure depth. Revenue has shown significant growth recently, but overall financial performance remains challenging to assess due to limited historical data.
- Click to explore a detailed breakdown of our findings in Cleo Diagnostics' financial health report.
- Assess Cleo Diagnostics' previous results with our detailed historical performance reports.
PharmX Technologies (ASX:PHX)
Simply Wall St Financial Health Rating: ★★★★☆☆
Overview: PharmX Technologies Limited is a technology and software development company operating in Australia with a market cap of A$77.81 million.
Operations: PharmX Technologies generates revenue from its Health Services segment, amounting to A$7.53 million.
Market Cap: A$77.81M
PharmX Technologies, with a market cap of A$77.81 million and revenue of A$7.53 million from its Health Services segment, remains unprofitable but debt-free. Recent earnings showed a reduced net loss of A$0.264 million for the year ended June 2025, compared to a larger loss previously. The company has stable short-term assets exceeding both its short- and long-term liabilities, offering some financial stability despite insufficient data on cash runway sustainability. Leadership changes include the appointment of Mr. Alexander Mellis as Non-Executive Director amidst board restructuring challenges related to ASX compliance issues.
- Take a closer look at PharmX Technologies' potential here in our financial health report.
- Understand PharmX Technologies' track record by examining our performance history report.
PolyNovo (ASX:PNV)
Simply Wall St Financial Health Rating: ★★★★★★
Overview: PolyNovo Limited designs, manufactures, and sells biodegradable medical devices across several countries including Australia, New Zealand, the United States, and others, with a market cap of A$1.10 billion.
Operations: The company generates revenue of A$128.70 million from the development, manufacturing, and commercialisation of its NovoSorb technology.
Market Cap: A$1.1B
PolyNovo Limited, with a market cap of A$1.10 billion, reported strong financial results for the year ending June 30, 2025. The company achieved revenue of A$129.19 million and net income of A$13.21 million, reflecting significant growth from the previous year. Its earnings growth rate of 151.2% outpaced the medical equipment industry average and was supported by improved profit margins and reduced debt levels over time. PolyNovo's short-term assets comfortably cover its liabilities, providing financial stability despite an inexperienced management team with an average tenure of 1.7 years. Additionally, its shares are trading below estimated fair value, suggesting potential investment appeal amidst high non-cash earnings quality.
- Get an in-depth perspective on PolyNovo's performance by reading our balance sheet health report here.
- Gain insights into PolyNovo's outlook and expected performance with our report on the company's earnings estimates.
Seize The Opportunity
- Navigate through the entire inventory of 437 ASX Penny Stocks here.
- Interested In Other Possibilities? The best AI stocks today may lie beyond giants like Nvidia and Microsoft. Find the next big opportunity with these 24 smaller AI-focused companies with strong growth potential through early-stage innovation in machine learning, automation, and data intelligence that could fund your retirement.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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