Moroccan Software ROE over 20

Heritage Insurance Holdings

Market Cap: US$725.3m

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

QDM International

Market Cap: US$720.6m

Operates as an insurance brokerage company primarily in Hong Kong.

Strawberry Fields REIT

Market Cap: US$719.4m

A self-administered real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing and certain other healthcare-related properties.

Hippo Holdings

Market Cap: US$716.0m

Provides property and casualty insurance products to individuals and business customers primarily in the United States.

Carriage Services

Market Cap: US$679.6m

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

Daily Journal

Market Cap: US$657.1m

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

Build-A-Bear Workshop

Market Cap: US$636.3m

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

PagerDuty

Market Cap: US$635.1m

Engages in the operation of a digital operations management platform in the United States and internationally.

QuinStreet

Market Cap: US$632.6m

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

Thomasville Bancshares

Market Cap: US$625.8m

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.

Dingdong (Cayman)

Market Cap: US$619.3m

Operates an e-commerce company in China.

Natural Grocers by Vitamin Cottage

Market Cap: US$618.2m

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

B Communications

Market Cap: US$598.8m

Through its subsidiaries, provides a range of telecommunications services for business and domestic customers in Israel.

Anterix

Market Cap: US$597.4m

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

Caledonia Mining

Market Cap: US$579.4m

Primarily operates a gold mine in Jersey.

CorMedix

Market Cap: US$578.3m

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

Ibotta

Market Cap: US$569.9m

A technology company, provides digital promotion services to clients in the United States.

GAMCO Investors

Market Cap: US$550.6m

A publicly owned holding investment manager.

American Coastal Insurance

Market Cap: US$540.8m

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

Horizon Kinetics Holding

Market Cap: US$521.8m

An employee owned investment manager.

EverQuote

Market Cap: US$517.4m

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

Flotek Industries

Market Cap: US$517.1m

Operates as a technology-driven green chemistry and data company that serves customers across industrial and commercial markets in the United States, the United Arab Emirates, and internationally.

Kforce

Market Cap: US$499.2m

Provides professional staffing services and solutions in the United States.

Sohu.com

Market Cap: US$486.8m

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

SIGA Technologies

Market Cap: US$486.2m

A commercial-stage pharmaceutical company, focuses on the health security market in the United States.

Zevra Therapeutics

Market Cap: US$478.5m

A commercial-stage company, focuses on addressing unmet needs for the treatment of rare diseases in the United States.

Elite Pharmaceuticals

Market Cap: US$473.8m

A specialty pharmaceutical company, engages in the development, manufacture, and sale of oral, controlled-release products, and generic pharmaceuticals.

International Money Express

Market Cap: US$462.7m

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

Frequency Electronics

Market Cap: US$456.8m

Engages in the design, development, manufacture, marketing, and sale of precision time and frequency control products and components for microwave integrated circuit applications.

EACO

Market Cap: US$447.2m

Through its subsidiary, Bisco Industries, Inc., distributes and sells electronic components and fasteners in the United States, Asia, Canada, and internationally.

OneSpan

Market Cap: US$427.4m

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.

Diamond Hill Investment Group

Market Cap: US$415.1m

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

Niagen Bioscience

Market Cap: US$411.7m

Operates as a bioscience company engages in developing healthy aging products.

Paul Mueller

Market Cap: US$409.0m

Provides manufactured equipment and components in the United States, North America, the Netherlands, Europe, and internationally.

IBEX

Market Cap: US$403.5m

Provides end-to-end technology-enabled customer lifecycle experience solutions in the United States and internationally.

Euroseas

Market Cap: US$396.2m

Provides ocean-going transportation services worldwide.