New Risk • Mar 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$12.9m (US$9.08m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.4m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Negative equity (-AU$1.4m). Earnings have declined by 0.4% per year over the past 5 years. Market cap is less than US$10m (AU$12.9m market cap, or US$9.08m). Minor Risk Revenue is less than US$5m (AU$7.0m revenue, or US$4.9m). Reported Earnings • Mar 04
First half 2026 earnings released: AU$0.017 loss per share (vs AU$0.054 loss in 1H 2025) First half 2026 results: AU$0.017 loss per share (improved from AU$0.054 loss in 1H 2025). Revenue: AU$3.65m (down 6.4% from 1H 2025). Net loss: AU$1.78m (loss narrowed 60% from 1H 2025). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. New Risk • Feb 28
New major risk - Negative shareholders equity The company has negative equity. Total equity: -AU$1.4m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.4m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Negative equity (-AU$1.4m). Earnings have declined by 0.4% per year over the past 5 years. Minor Risks Revenue is less than US$5m (AU$7.0m revenue, or US$4.9m). Market cap is less than US$100m (AU$19.6m market cap, or US$13.9m). Reported Earnings • Oct 05
Full year 2025 earnings released: AU$0.11 loss per share (vs AU$0.17 loss in FY 2024) Full year 2025 results: AU$0.11 loss per share (improved from AU$0.17 loss in FY 2024). Revenue: AU$7.20m (up 8.6% from FY 2024). Net loss: AU$10.0m (loss narrowed 2.4% from FY 2024). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. Ankündigung • Sep 26
DataWorks Group Limited, Annual General Meeting, Nov 21, 2025 DataWorks Group Limited, Annual General Meeting, Nov 21, 2025. Reported Earnings • Aug 31
Full year 2025 earnings released: AU$0.15 loss per share (vs AU$0.17 loss in FY 2024) Full year 2025 results: AU$0.15 loss per share (improved from AU$0.17 loss in FY 2024). Revenue: AU$7.20m (up 8.6% from FY 2024). Net loss: AU$10.0m (loss narrowed 2.4% from FY 2024). Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. New Risk • Jun 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.6m free cash flow). Earnings have declined by 21% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Market cap is less than US$10m (AU$10.2m market cap, or US$6.63m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Revenue is less than US$5m (AU$7.2m revenue, or US$4.7m). New Risk • May 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.3m (US$9.24m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.6m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 21% per year over the past 5 years. Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Market cap is less than US$10m (AU$14.3m market cap, or US$9.24m). Minor Risk Revenue is less than US$5m (AU$7.2m revenue, or US$4.7m). New Risk • Apr 02
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$914.4k (US$576.1k) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.6m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 21% per year over the past 5 years. Shareholders have been substantially diluted in the past year (87% increase in shares outstanding). Market cap is less than US$10m (AU$914.4k market cap, or US$576.1k). Minor Risk Revenue is less than US$5m (AU$7.2m revenue, or US$4.6m). New Risk • Mar 19
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$5.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.6m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 21% per year over the past 5 years. Shareholders have been substantially diluted in the past year (87% increase in shares outstanding). Minor Risks Revenue is less than US$5m (AU$7.2m revenue, or US$4.6m). Market cap is less than US$100m (AU$16.3m market cap, or US$10.3m). New Risk • Feb 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$5.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.6m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Earnings have declined by 21% per year over the past 5 years. Shareholders have been substantially diluted in the past year (87% increase in shares outstanding). Minor Risks Revenue is less than US$5m (AU$7.2m revenue, or US$4.5m). Market cap is less than US$100m (AU$20.3m market cap, or US$12.7m). New Risk • Jan 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.0m (US$9.32m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Market cap is less than US$10m (AU$15.0m market cap, or US$9.32m). Minor Risk Revenue is less than US$5m (AU$6.6m revenue, or US$4.1m). Ankündigung • Jan 02
IXUP Limited Announces Transition of Julian Babarczy from Non-Executive Chairman to Executive Chairman, Effective 1 January 2025 IXUP Limited announced that Mr. Julian Babarczy will transition from his current role as Non-Executive Chairman to Executive Chairman, effective 1 January 2025. Mr. Babarczy's role will centre on providing enhanced support for the Company's strategic direction and overseeing key operational initiatives. Ankündigung • Dec 09
IXUP Limited has completed a Follow-on Equity Offering in the amount of AUD 3.3 million. IXUP Limited has completed a Follow-on Equity Offering in the amount of AUD 3.3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 320,000,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Dec 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.0m (US$9.68m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Market cap is less than US$10m (AU$15.0m market cap, or US$9.68m). Minor Risk Revenue is less than US$5m (AU$6.6m revenue, or US$4.3m). Ankündigung • Nov 14
IXUP Limited Appoints Greg Nichelsen as Chief Information Officer, Effective 8 January 2025 IXUP Limited announced the appointment of Greg Nichelsen as Chief Information Officer (CIO), who will commence in the role on 8 January 2025. Mr. Nichelsen brings over 25 years of leadership in data analytics, having driven transformative data initiatives for major financial institutions globally. Known for his strategic vision and outcome-focused approach, Mr. Nichelsen has built and implemented data programs that align with business goals, enhance customer experiences, and deliver significant value. His expertise in data privacy and protection, combined with a commitment to strong governance, has established trusted data ecosystems that adhere to rigorous privacy standards while fostering organisational growth. Throughout his career, Mr. Nichelsen has excelled in managing complex, multi-national data environments. His experience spans data engineering, advanced analytics, regulatory reporting, and customer insights, equipping him with a distinctive global perspective on data strategy and operational excellence. Mr. Nichelsen's leadership roles at Standard Chartered Bank, Citi and major financial institutions in Australia reflect his ability to navigate and deliver in diverse environments, consistently supporting business transformation and client satisfaction. Mr. Nichelsen's appointment marks an exciting step for IXUP as the Company positions itself for substantial growth and technological advancement. His expertise in both technical and strategic areas, combined with a focus on agile transformation and data-driven strategy, will play a pivotal role as the company expands its capabilities in secure data management solutions. New Risk • Oct 21
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Minor Risks Revenue is less than US$5m (AU$6.6m revenue, or US$4.4m). Market cap is less than US$100m (AU$21.7m market cap, or US$14.6m). Ankündigung • Oct 11
IXUP Limited, Annual General Meeting, Nov 25, 2024 IXUP Limited, Annual General Meeting, Nov 25, 2024. Reported Earnings • Oct 04
Full year 2024 earnings released: AU$0.009 loss per share (vs AU$0.027 loss in FY 2023) Full year 2024 results: AU$0.009 loss per share (improved from AU$0.027 loss in FY 2023). Revenue: AU$6.63m (up 428% from FY 2023). Net loss: AU$10.3m (loss narrowed 61% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 60% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 31
Full year 2024 earnings released: AU$0.009 loss per share (vs AU$0.027 loss in FY 2023) Full year 2024 results: AU$0.009 loss per share (improved from AU$0.027 loss in FY 2023). Revenue: AU$6.63m (up 428% from FY 2023). Net loss: AU$10.3m (loss narrowed 61% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 48% per year, which means it is performing significantly worse than earnings. Ankündigung • Mar 12
IXUP Limited has filed a Follow-on Equity Offering in the amount of AUD 4.078258 million. IXUP Limited has filed a Follow-on Equity Offering in the amount of AUD 4.078258 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 193,333,333
Price\Range: AUD 0.015
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 78,550,565
Price\Range: AUD 0.015
Transaction Features: Rights Offering New Risk • Feb 23
New major risk - Negative shareholders equity The company has negative equity. Total equity: -AU$784k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$9.9m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-AU$784k). Earnings have declined by 36% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (5.6% increase in shares outstanding). Revenue is less than US$5m (AU$4.2m revenue, or US$2.8m). Market cap is less than US$100m (AU$31.5m market cap, or US$20.7m). New Risk • Feb 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$11m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 37% per year over the past 5 years. Revenue is less than US$1m (AU$1.3m revenue, or US$823k). Minor Risks Shareholders have been diluted in the past year (5.6% increase in shares outstanding). Market cap is less than US$100m (AU$32.6m market cap, or US$21.4m). Ankündigung • Sep 22
IXUP Limited, Annual General Meeting, Nov 24, 2023 IXUP Limited, Annual General Meeting, Nov 24, 2023. Reported Earnings • Sep 01
Full year 2023 earnings released: AU$0.027 loss per share (vs AU$0.016 loss in FY 2022) Full year 2023 results: AU$0.027 loss per share (further deteriorated from AU$0.016 loss in FY 2022). Revenue: AU$1.26m (up 29% from FY 2022). Net loss: AU$27.0m (loss widened 98% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. New Risk • Aug 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$9.9m free cash flow). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m (AU$921k revenue, or US$590k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (AU$62.0m market cap, or US$39.7m). Ankündigung • Aug 12
IXUP Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million. IXUP Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 33,333,334
Price\Range: AUD 0.06
Discount Per Security: AUD 0.0036
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Ankündigung • May 17
IXUP Limited Appoints Warren Steven as Chief Operating Officer IXUP Limited announced the elevation of Mr. Warren Steven, to the role of Chief Operating Officer of IXUP Limited. Warren was appointed to IXUP as a consultant in 2022 and has been instrumental in assisting with the development of IXUP's responsible gaming technology (RegTech) strategy, both in Australia and internationally. Warren has been instrumental in the analysis and negotiation of IXUP's recently announced acquisition of the intellectual property and associated government contracts of Big Village Australia Pty Ltd. (Administrators Appointed) (Big Village). The Big Village assets include a key contract with the Commonwealth Government of Australia via the Australian Communications & Media Authority (ACMA), to finalise the development of, then deploy and operate the Australian National Self Exclusion Register (NSER) for problem gamblers (known as BetStop). The BetStop contract remains subject to a successful novation of the contract in agreement with ACMA, which is expected in the coming weeks. For further information, please refer to IXUP's ASX announcement dated 1st May 2023. Warren's initial focus will be on the final development aspects of the BetStop NSER solution, including deployment and operation. Warren will also remain actively involved in IXUP's other RegTech initiatives in the US, which are targeting a pilot with one or more major sporting leagues, gaming regulators and gaming operators, later in CY23. IXUP considers that its core technology, the world leading fully encrypted secure data collaboration technology, has clear applications for the global RegTech industry and that IXUP has the potential to build a significant and enduring technology business in a rapidly growing market with a clear and immediate need for comprehensive and contemporary solutions. Warren Steven has 30 years' experience in digital entertainment, the last two decades being focused on the online gaming industry. Over this time Warren worked for European and US operators in multiple jurisdictions across multiple disciplines including executive leadership, commercial P&L, business operations, revenue operations, product management, acquisition marketing and compliance. In North America, Warren joined the leadership team at Golden Nugget Online Gaming (GNOG) to launch its operations in 2013 and delivered an award-winning brand to the US online gaming industry. Since launching in New Jersey, GNOG went on to launch its own live dealer studio (B2C/B2B), retail and online sports betting, and expand its operations into multiple US states. GNOG Inc. successfully went public in 2021 through a SPAC merger and was sold to DraftKings in May 2022. Reported Earnings • Feb 24
First half 2023 earnings released: AU$0.022 loss per share (vs AU$0.008 loss in 1H 2022) First half 2023 results: AU$0.022 loss per share (further deteriorated from AU$0.008 loss in 1H 2022). Revenue: AU$351.7k (down 14% from 1H 2022). Net loss: AU$21.4m (loss widened 220% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Ankündigung • Feb 03
IXUP Limited Announces the Retirement of Marcus Gracey from the Board IXUP Limited announced the retirement of Marcus Gracey from the Board of IXUP and all subsidiary companies, effective from the close of business on 2nd February 2023. Marcus was previously Chief Executive Office of IXUP, transitioning to the role of Director, Corporate Development & Strategy, in August 2022. While Marcus has retired from the Board of IXUP, he remains a consultant to the Company, continuing to assist with strategy, business development and corporate matters. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Ian Penrose was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 04
Full year 2022 earnings released: AU$0.016 loss per share (vs AU$0.009 loss in FY 2021) Full year 2022 results: AU$0.016 loss per share (further deteriorated from AU$0.009 loss in FY 2021). Net loss: AU$13.7m (loss widened 152% from FY 2021). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 01
Full year 2022 earnings released: AU$0.016 loss per share (vs AU$0.009 loss in FY 2021) Full year 2022 results: AU$0.016 loss per share (down from AU$0.009 loss in FY 2021). Net loss: AU$13.7m (loss widened 152% from FY 2021). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Board Change • Apr 27
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 4 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Founder, Head of Strategy & Innovation and Non-Executive Director Dean Joscelyne is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Feb 20
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: AU$0.008 loss per share (down from AU$0.003 loss in 1H 2021). Net loss: AU$6.68m (loss widened 301% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 29
Full year 2021 earnings released: AU$0.009 loss per share (vs AU$0.019 loss in FY 2020) Full year 2021 results: Net loss: AU$5.42m (loss widened 44% from FY 2020). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Executive Departure • Apr 15
Company Secretary has left the company On the 8th of April, Andrew Whitten's tenure as Company Secretary ended after 3.4 years in the role. We don't have any record of a personal shareholding under Andrew's name. A total of 4 executives have left over the last 12 months. Reported Earnings • Feb 28
First half 2021 earnings released: AU$0.003 loss per share (vs AU$0.012 loss in 1H 2020) First half 2021 results: Net loss: AU$1.66m (loss narrowed 15% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. 