Haivision Systems And 2 Other TSX Penny Stocks To Consider

The Canadian market has been flat over the last week, but it has risen 27% over the past year with earnings forecast to grow by 16% annually. In such a climate, identifying stocks with strong financials and growth potential is key, especially when considering penny stocks. While the term "penny stocks" might seem outdated, these smaller or newer companies can offer unique opportunities for investors seeking affordability and potential upside.

Top 10 Penny Stocks In Canada

Name	Share Price	Market Cap	Financial Health Rating
PetroTal (TSX:TAL)	CA$0.65	CA$602.54M	★★★★★★
Alvopetro Energy (TSXV:ALV)	CA$5.02	CA$183.06M	★★★★★★
Pulse Seismic (TSX:PSD)	CA$2.31	CA$118.61M	★★★★★★
Findev (TSXV:FDI)	CA$0.42	CA$12.03M	★★★★★☆
Winshear Gold (TSXV:WINS)	CA$0.145	CA$5.03M	★★★★★★
Mandalay Resources (TSX:MND)	CA$3.33	CA$314.9M	★★★★★★
Foraco International (TSX:FAR)	CA$2.31	CA$240.57M	★★★★★☆
Amerigo Resources (TSX:ARG)	CA$1.76	CA$293.47M	★★★★★☆
East West Petroleum (TSXV:EW)	CA$0.045	CA$4.07M	★★★★★★
Enterprise Group (TSX:E)	CA$2.24	CA$129.82M	★★★★☆☆

Click here to see the full list of 952 stocks from our TSX Penny Stocks screener.

We're going to check out a few of the best picks from our screener tool.

Haivision Systems (TSX:HAI)

Simply Wall St Financial Health Rating: ★★★★★☆

Overview: Haivision Systems Inc. offers mission-critical, real-time video networking and visual collaboration solutions across Canada, the United States, and internationally, with a market cap of CA$134.77 million.

Operations: The company generates revenue of CA$135.12 million from its Internet Telephone segment.

Market Cap: CA$134.77M

Haivision Systems Inc., with a market cap of CA$134.77 million, has shown resilience in its financial performance, becoming profitable this year with net income of CA$2.64 million for the nine months ended July 31, 2024. Despite a revenue decline to CA$30.65 million in Q3 from CA$34.95 million the previous year, Haivision's short-term assets comfortably cover both its short and long-term liabilities. The company is actively involved in innovative projects like the Air!5G consortium led by Airbus Defense and Space, highlighting its strategic focus on advanced communication solutions and potential for growth within mission-critical sectors.

• Unlock comprehensive insights into our analysis of Haivision Systems stock in this financial health report.
• Gain insights into Haivision Systems' future direction by reviewing our growth report.

Kraken Robotics (TSXV:PNG)

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: Kraken Robotics Inc. is a marine technology company that designs, manufactures, and sells sonar and optical sensors, batteries, and underwater robotic equipment for unmanned underwater vehicles used in military and commercial applications globally, with a market cap of CA$341.39 million.

Operations: The company's revenue is derived from two main segments: Products, which generated CA$72.06 million, and Services, contributing CA$19.92 million.

Market Cap: CA$341.39M

Kraken Robotics Inc., with a market cap of CA$341.39 million, has demonstrated significant growth, reporting revenue of CA$43.63 million for the first half of 2024, nearly doubling from the previous year. The company has secured substantial orders totaling $16 million for its SeaPower subsea batteries and MINSAS systems, reinforcing its market presence in marine technology. Kraken's financial health is robust with short-term assets exceeding liabilities and no meaningful shareholder dilution recently. However, challenges include negative operating cash flow and a relatively inexperienced management team as it navigates expansion through strategic collaborations like the one with SeeByte Ltd.

• Take a closer look at Kraken Robotics' potential here in our financial health report.
• Gain insights into Kraken Robotics' outlook and expected performance with our report on the company's earnings estimates.

WildBrain (TSX:WILD)

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: WildBrain Ltd. is involved in the development, production, and distribution of films and television programs across Canada, the United States, the United Kingdom, and internationally with a market cap of approximately CA$232.80 million.

Operations: The company's revenue is primarily derived from Global Licensing (CA$213.60 million), Content Creation and Audience Engagement (CA$212.77 million), and Canadian Television Broadcasting (CA$35.46 million).

Market Cap: CA$232.8M

WildBrain Ltd., with a market cap of CA$232.80 million, operates in the entertainment sector, deriving significant revenue from global licensing and content creation. Despite being unprofitable, the company has reduced its losses over five years by 37.4% annually and maintains a positive cash flow runway for over three years. However, WildBrain's financial challenges include increased debt levels and shareholder dilution over the past year. Recent earnings showed a decline in sales to CA$461.82 million with an increased net loss of CA$105.97 million, yet guidance suggests potential revenue growth of 10-15% for 2025.

• Dive into the specifics of WildBrain here with our thorough balance sheet health report.
• Assess WildBrain's future earnings estimates with our detailed growth reports.

Key Takeaways

• Navigate through the entire inventory of 952 TSX Penny Stocks here.
• Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up.
• Simply Wall St is your key to unlocking global market trends, a free user-friendly app for forward-thinking investors.

Ready To Venture Into Other Investment Styles?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Jump on the AI train with fast growing tech companies forging a new era of innovation.
• Find companies with promising cash flow potential yet trading below their fair value.

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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