Microcap Research·Est. 2026
TSXV: NVI · Communications Equipment / Satellite Infrastructure

Novra Technologies Inc.

Microcap Research rates Novra Technologies Inc. (TSXV: NVI) Spec. Buy with a 12-month price target of C$0.30, about 88% above the C$0.16 share price at publication on Jun 2, 2026. Market capitalisation at publication: C$5.3M.

Latest Rating
Spec. Buy
12-mo Target
C$0.30
Price at Publication
C$0.16
Implied Upside
+88%
Market Cap
C$5.3M

Coverage history 02 reports

01
Novra Technologies NVI-2026-06-Q1update Current
Q1 FY2026 tested the thesis without breaking it: revenue fell 36% to C$0.89M on thin backlog and the quarter slipped to a C$74K loss, but gross margin hit 57.2%, cash tripled to C$4.1M, equity turned positive, and the Lilikoi AIoT path and Government & Defense division advanced. We trim our target to C$0.30 on a smaller trailing earnings base while maintaining Spec. Buy — but SNAPS is about to cross 20% and become a Control Entity at the June 26 vote.
Communications Equipment / Satellite Infrastructure
Spec. Buy
+88%
02
Novra Technologies NVI-2026-05 Superseded
A dramatic FY2025 turnaround — revenue +37%, gross margin 55.8%, Adj. EBITDA swings from -C$891K to +C$1.60M — yet the stock trades at 2.9x trailing Adj. EBITDA and 0.86x revenue. SNAPS's strategic US$9M investment at C$0.34/share (a 143% premium) signals the market is deeply mispricing this satellite infrastructure and government SATCOM business.
Communications Equipment / Satellite Infrastructure
Spec. Buy
150%

Novra Technologies Inc. (NVI) — key questions

What is Microcap Research's current rating on Novra Technologies Inc. (NVI)?

Microcap Research rates Novra Technologies Inc. (TSXV: NVI) Spec. Buy with a 12-month price target of C$0.30, about 88% above the C$0.16 share price at publication on Jun 2, 2026. Market capitalisation at publication: C$5.3M. This is the current call, published in the most recent of 2 Microcap Research reports on the company.

How many reports has Microcap Research published on Novra Technologies Inc. (NVI)?

2 reports, beginning in 2026. The most recent is dated Jun 2, 2026; the earlier report remains online as the published record, each marked superseded and linked to the report that replaced it.

Has Microcap Research's rating on Novra Technologies Inc. (NVI) changed?

Microcap Research initiated coverage of Novra Technologies Inc. (NVI) on May 4, 2026 at Spec. Buy, with a C$0.35 price target. Across 2 reports since then, on Jun 2, 2026 the Spec. Buy rating was maintained but the target was cut from C$0.35 to C$0.30. The current call, from Jun 2, 2026, is Spec. Buy at C$0.30.

What does Novra Technologies Inc. (NVI) do?

Novra Technologies Inc. is a Communications Equipment / Satellite Infrastructure company listed on the TSXV as TSXV: NVI. The Novra Group operates through three integrated business units sharing engineering resources, customer relationships, and global distribution:

What are the main risks Microcap Research flags on Novra Technologies Inc. (NVI)?

As of the Jun 2, 2026 report — Control & dilution — SNAPS (HIGH, escalated); Revenue lumpiness / order visibility (HIGH, demonstrated); Macro / tariff / geopolitical (MEDIUM); Credit-facility contraction (LOW); Microcap liquidity (MEDIUM)