U.S. Software Potentially Undervalued Companies

VIQ Solutions

Market Cap: US$5.3m

Operates as a technology and service platform provider for digital evidence capture, retrieval, and content management in Australia, the United States, the United Kingdom, Canada, and internationally.

Qualys

Market Cap: US$3.9b

Provides cloud-based platform delivering information technology (IT), security, and compliance solutions in the United States and internationally.

Telos

Market Cap: US$341.2m

Provides cyber, cloud, and enterprise security solutions in the United States and internationally.

Xunlei

Market Cap: US$314.4m

Operates an internet platform for digital media content in the People's Republic of China.

Horizon Robotics

Market Cap: US$66.9b

An investment holding company, provides automotive solutions for passenger vehicles in China.

Intouch Insight

Market Cap: US$9.8m

Provides customer experience management products and software solutions in Canada, the United States, and internationally.

Atea

Market Cap: US$18.0b

Provides IT infrastructure and related solutions for businesses and public sector organizations in the Nordic countries and Baltic regions.

Kantone Holdings

Market Cap: US$157.5m

An investment holding company, sells and leases system products, software licensing and customisation businesses in the United Kingdom, Germany, the People’s Republic of China, Hong Kong, and Macau.

Pro-Ship

Market Cap: US$37.6b

Develops, sells, consults, and customizes solution packages for asset management, sales management, and others in Japan.

Nemetschek

Market Cap: US$7.1b

Provides software solutions for architecture, engineering, construction, operation, and media industries in Germany, the rest of Europe, the Americas, the Asia Pacific, and internationally.

FDM Group (Holdings)

Market Cap: US$109.9m

Provides information technology (IT) services in the United Kingdom, North America, Europe, the Middle East, Africa, and the Asia Pacific.

FINEOS Corporation Holdings

Market Cap: US$720.7m

Engages in the development and sale of enterprise claims and policy management software for life, accident and health insurers, and employee benefits providers in North America, the Asia Pacific, Europe, the Middle East, and Africa.

NameSilo Technologies

Market Cap: US$91.0m

Through its subsidiaries, provides domain name registration services in the United States, East and South Asia, South East Asia, Australasia, and internationally.

reAlpha Tech

Market Cap: US$10.7m

A real estate technology company, develops an end-to-end homebuying platform.

Kingsoft Cloud Holdings

Market Cap: US$3.3b

Provides cloud services to businesses and organizations primarily in China.

Asseco Poland

Market Cap: US$14.8b

Produces and sells software products worldwide.

Bridgeline Digital

Market Cap: US$13.6m

Operates as a marketing technology company in the United States, Canada, and internationally.

VTEX

Market Cap: US$603.5m

Provides software-as-a-service digital commerce platform for enterprise brands and retailers.

Via Transportation

Market Cap: US$1.2b

Provides a platform that transforms global transportation systems into digital networks in the United States, Germany, and internationally.

Digital Turbine

Market Cap: US$1.2b

Through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs).

International Business Machines

Market Cap: US$256.0b

Provides integrated solutions and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

IVU Traffic Technologies

Market Cap: US$328.1m

Develops, installs, maintains, and operates integrated IT solutions for buses and trains worldwide.

ULS Group

Market Cap: US$31.5b

Provides IT consulting and solutions in Japan.

SHIFT

Market Cap: US$184.6b

Provides software quality assurance and testing solutions in Japan.

ARB IOT Group

Market Cap: US$10.2m

Through its subsidiaries, provides Internet of Things (IoT) system solutions, and system integration and support services in Malaysia.

Intellicheck

Market Cap: US$82.4m

A technology company, provides on-demand digital identity validation solutions for KYC, fraud, and age verification needs in North America.

nCino

Market Cap: US$1.7b

A software-as-a-service company, provides software solutions to financial institutions in the United States, the United Kingdom, and internationally.

Coveo Solutions

Market Cap: US$378.7m

Provides software-as-a-service artificial intelligence (AI) platform in Canada, the United States, and internationally.

NEC

Market Cap: US$5.3t

Provides information technology services and social infrastructure in Japan and internationally.

Cellebrite DI

Market Cap: US$3.2b

Develops software and services for legally sanctioned investigations in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific.

Thinkific Labs

Market Cap: US$81.1m

Engages in the development, marketing, and support management of cloud-based platform in Canada, the United States, and internationally.

SiteMinder

Market Cap: US$978.3m

Provides software and online licensing solutions in the Asia Pacific, Europe, the Middle East, Africa, and the Americas.

Go Go Buyers

Market Cap: US$2.1m

Engages in the development of AI-enabled API integration services for flight price tracking and hotel price comparison through artificial intelligence platform in the United States.

Money Forward

Market Cap: US$222.0b

Provides financial solutions for individuals, financial institutions, and corporations primarily in Japan.

BIO-key International

Market Cap: US$4.4m

Develops and markets fingerprint identification biometric technology and software solutions, and enterprise-ready identity access management solutions for commercial, government, and education sectors in the United States and internationally.

YXT.COM Group Holding

Market Cap: US$30.3m

Through its subsidiaries, provides digital corporate learning solution in the People’s Republic of China.