Hong Kong Software ROE over 20

Theravance Biopharma

Market Cap: US$787.3m

A biopharmaceutical company, develops and commercializes medicines in the United States.

Riley Exploration Permian

Market Cap: US$786.6m

An independent oil and natural gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in Texas and New Mexico.

Cantaloupe

Market Cap: US$785.1m

A digital payments and software services company, provides technology solutions for the self-service commerce market.

Heritage Insurance Holdings

Market Cap: US$771.7m

Through its subsidiaries, provides personal and commercial residential insurance products.

Oddity Tech

Market Cap: US$760.3m

Operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States, Israel, and internationally.

Anterix

Market Cap: US$760.0m

Focuses on the commercialization of spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and solutions.

Barrett Business Services

Market Cap: US$729.6m

Provides business management solutions for small and mid-sized companies in the United States.

QuinStreet

Market Cap: US$701.0m

An online performance marketing company, provides customer acquisition services for its clients in the United States and internationally.

Nutex Health

Market Cap: US$699.5m

Operates as a healthcare services and operations company in the United States.

Carriage Services

Market Cap: US$699.0m

Provides funeral and cemetery services, and merchandise in the United States.

OppFi

Market Cap: US$673.3m

A tech-enabled digital finance platform, provides financial products and services for banks in the United States.

Daily Journal

Market Cap: US$668.6m

Daily Journal Corporation publishes newspapers and websites covering in California, Arizona, Utah, and Australia.

Flotek Industries

Market Cap: US$636.5m

Operates as a chemical and data analytics company in the United States, the United Arab Emirates, and internationally.

Thomasville Bancshares

Market Cap: US$606.8m

Operates as the bank holding company for Thomasville National Bank that provides a range of banking services to individual and corporate customers primarily in Thomas and Glynn counties, Georgia, Leon County, Florida, and the surrounding counties.

EverQuote

Market Cap: US$575.0m

Operates an online marketplace for insurance shopping in the United States.

Natural Grocers by Vitamin Cottage

Market Cap: US$570.3m

Natural Grocers by Vitamin Cottage, Inc., together with its subsidiaries, retails natural and organic groceries, and dietary supplements in the United States.

Dingdong (Cayman)

Market Cap: US$567.9m

Operates an e-commerce company in China.

Karat Packaging

Market Cap: US$566.8m

Engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings.

Cardinal Infrastructure Group

Market Cap: US$561.4m

A civil contracting company, provides site development and infrastructure services to the residential, commercial, industrial, municipal, and state infrastructure markets in the southeastern United States.

One and one Green Technologies

Market Cap: US$559.3m

A waste materials and scrap metal recycling company, engages in the recycling, production, and trading of recycled scrap metals in the Philippines.

American Coastal Insurance

Market Cap: US$548.6m

Through its subsidiaries, primarily engages in the commercial and personal property and casualty insurance business in the United States.

GAMCO Investors

Market Cap: US$544.5m

A publicly owned holding investment manager.

Yext

Market Cap: US$540.3m

Provides a platform that offers answers to consumer questions in North America and internationally.

CorMedix

Market Cap: US$522.5m

A biopharmaceutical company, focuses on developing and commercializing therapeutic products for life-threatening diseases and conditions in the United States.

Build-A-Bear Workshop

Market Cap: US$503.0m

Operates as a multi-channel retailer of plush animals and related products in the United States, Canada, the United Kingdom, Ireland, and internationally.

Sohu.com

Market Cap: US$490.7m

Operates as an online media platform and gaming company that provides online products and services on PCs and mobile devices in China.

Kforce

Market Cap: US$478.9m

Provides professional staffing services and solutions in the United States.

International Money Express

Market Cap: US$477.7m

Operates as an omnichannel money remittance services company in the United States, Latin America, Mexico, Central and South America, the Caribbean, Africa, and Asia.

GeoPark

Market Cap: US$476.6m

Operates as an oil and natural gas exploration and production company in Chile, Colombia, Brazil, Argentina, Ecuador, and other Latin American countries.

Diamond Hill Investment Group

Market Cap: US$466.9m

Through its subsidiary, Diamond Hill Capital Management, Inc., provides investment advisory and fund administration services in the United States.

Innovative Aerosystems

Market Cap: US$462.8m

Engages in the engineering, manufacturing, and supply of advanced avionic solutions.

Spire Global

Market Cap: US$460.0m

Provides subscription-based data, insights, predictive analytics, and related project-based services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Envela

Market Cap: US$452.0m

Provides recommerce and recycling services in the United States.

Euroseas

Market Cap: US$442.6m

Provides ocean-going transportation services worldwide.

Caledonia Mining

Market Cap: US$439.2m

Primarily operates a gold mine in Jersey.

OneSpan

Market Cap: US$400.5m

Provides digital solutions for security, authentication, identity, electronic signature, and digital workflow products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions.