Global Potentially Undervalued Small Caps

Central Petroleum

Market Cap: AU$65.3m

Engages in the development, production, processing, and marketing of hydrocarbons, including natural gas, and crude oil and condensate in Australia.

Interworks Confidence

Market Cap: JP¥9.4b

Provides temporary staffing and job placement services in Japan.

Dolphin Drilling

Market Cap: NOK 394.9m

Provides drilling services to the offshore oil and gas industry in the United Kingdom, India, Norway, and Nigeria.

Zixin Group Holdings

Market Cap: S$64.3m

An investment holding company, engages in the research and development, cultivation, production, supply, and sale of sweet potato snack food products in the People’s Republic of China.

Rise Consulting Group

Market Cap: JP¥9.9b

Engages in the consulting business in Japan.

GMO Pepabo

Market Cap: JP¥9.8b

Provides internet services in Japan.

Wolftank Group

Market Cap: €22.2m

Provides environmental remediation and refueling solutions for renewable energies worldwide.

James Cropper

Market Cap: UK£33.9m

Manufactures and sells paper products and advanced materials.

AdUX

Market Cap: €9.6m

Provides advertising services in France, Belgium, Italy, Spain, Germany, and the Netherlands.

hGears

Market Cap: €10.6m

Develops, manufactures, distributes, and supplies precision components and subsystems, and system solutions in European Union, the United States, China, and rest of the world.

Vincit Oyj

Market Cap: €20.0m

Provides service design and software development services in Finland, and internationally.

Spartoo SAS

Market Cap: €4.2m

SPARTOO SAS operates as an online retailer for fashion items in Europe.

TPXimpact Holdings

Market Cap: UK£29.9m

Provides digital native technology services in the United Kingdom, Switzerland, and internationally.

QleanAir

Market Cap: SEK 396.7m

Provides air cleaning solutions for indoor environments in Sweden and internationally.

Boule Diagnostics

Market Cap: SEK 151.4m

Develops, manufactures, and markets instruments and consumable products for blood diagnostics in the United States of America, Asia, Eastern Europe, Latin America, Western Europe, Africa, and the Middle East.

Archos

Market Cap: €11.0m

Manufactures and sells consumer electronics in France.

Berentzen-Gruppe

Market Cap: €33.3m

Produces and distributes spirits and non-alcoholic beverages in Germany, rest of Europe Union, rest of Europe, and internationally.

Qualisys Holding

Market Cap: SEK 498.5m

Provides precision motion capture and 3D positioning tracking systems in Europe, the Middle East, Africa, the United States, and the Asia-Pacific.

Mexedia Società Per Azioni S.B

Market Cap: €47.1m

Engages in the provision of technologies for the telecommunications and business services sector in Italy.

B+S Banksysteme

Market Cap: €11.4m

Provides software solutions for banks and financial service providers.

Upsales Technology

Market Cap: SEK 412.5m

Operates as a software-as-a-service company that develops and sells web-based business systems with a focus on sales, marketing, and analysis in Sweden and internationally.

Netum Group Oyj

Market Cap: €13.8m

Operates as an IT services company in Finland.

TScan Therapeutics

Market Cap: US$61.3m

A clinical-stage biotechnology company, develops T cell receptor-engineered T cell (TCR-T) therapies for the treatment of patients with cancer in the United States.

Inuvo

Market Cap: US$27.7m

An advertising technology and services company, develops and commercializes large language generative artificial intelligence that discovers and targets digital audiences in the United States.

illumin Holdings

Market Cap: CA$40.4m

A technology company, provides digital media solutions in Canada, the United States, Europe, Latin America, and internationally.

PLAYSTUDIOS

Market Cap: US$55.4m

Develops and publishes free-to-play casual games for mobile and social platforms in the United States and internationally.

WM Technology

Market Cap: US$64.1m

An online cannabis marketplace, provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States and internationally.

FGI Industries

Market Cap: US$7.4m

FGI Industries ltd. supplies bath and kitchen products retail, wholesale, commercial and specialty channel customers in the United States, Canada, Europe, and internationally.

nForce Secure

Market Cap: ฿1.2b

Operates as a specialty distributor of IT security, information management, network solutions, and cloud security in Thailand.

HE Group Berhad

Market Cap: RM 132.0m

Through its subsidiary, Hexatech Engineering Sdn.

Dreamfolks Services

Market Cap: ₹4.5b

Provides airport service in India.

Integrated Research

Market Cap: AU$56.0m

Designs, develops, implements, and sells software for business-critical computing, unified communication, and payment networks.

Foods and Inns

Market Cap: ₹4.5b

Manufactures and sells various processed fruits and vegetables, pulps, purees, spices, spray-dried powders, and frozen food in India and internationally.

Botanix Pharmaceuticals

Market Cap: AU$79.9m

Operates as a commercial dermatology company in Australia and the United States.

HSS Engineers Berhad

Market Cap: RM 205.9m

An investment holding company, provides engineering and project management primarily in Malaysia, the Middle East, Cambodia, the Philippines, India, and Indonesia.

HRS

Market Cap: ₩84.4b

Engages in the manufacture and sale of functional silicone rubber and silicone rubber molded products in South Korea.