Reported Earnings • May 22
First quarter 2026 earnings released: CA$0.01 loss per share (vs CA$0 in 1Q 2025) First quarter 2026 results: CA$0.01 loss per share (further deteriorated from CA$0 in 1Q 2025). Net loss: CA$138.7k (down CA$143.7k from profit in 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 10
Full year 2025 earnings released: CA$0.27 loss per share (vs CA$0.28 loss in FY 2024) Full year 2025 results: CA$0.27 loss per share (improved from CA$0.28 loss in FY 2024). Net loss: CA$6.93m (loss narrowed 6.3% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. New Risk • Apr 10
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: CA$77k (US$56k) This is considered a major risk. Companies with a small amount of revenue 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 Earnings have declined by 58% per year over the past 5 years. Revenue is less than US$1m (CA$77k revenue, or US$56k). Minor Risk Market cap is less than US$100m (CA$32.6m market cap, or US$23.6m). Reported Earnings • Nov 27
Third quarter 2025 earnings released: EPS: CA$0.003 (vs CA$0.03 loss in 3Q 2024) Third quarter 2025 results: EPS: CA$0.003 (up from CA$0.03 loss in 3Q 2024). Net income: CA$78.0k (up CA$839.2k from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Annonce • Nov 04
KEDM Inc. completed the acquisition of KEDM Business of Mongolia Growth Group Ltd. (TSXV:YAK). KEDM Inc. entered into a definitive agreement to acquire KEDM Business of Mongolia Growth Group Ltd. (TSXV:YAK) on August 26, 2025. Pursuant to the transaction, KEDM Inc. has agreed to purchase all of the assets and undertakings related to the KEDM business in consideration for the assumption of all obligations related to the deferred revenues associated with the KEDM business (which will be retained by Mongolia Growth Group Ltd.) up to and including October 31, 2025 (which deferred revenues are currently estimated to be between CAD 0.6 million and CAD 0.9 million depending on renewals prior to the closing date). In a related transaction, Lemontree LLC entered into a definitive agreement to acquire Office Building in Rincon, Puerto Rico from Mongolia Growth Group Ltd.
The transaction is subject to standard terms and conditions for transactions of this nature, and in addition to the foregoing, is subject to approval of offer by target shareholders and TSX Venture Exchange approval. A special committee of independent members of the board of directors comprised of Brad Farquhar, Jim Dwyer and Rob Scott was formed to oversee, consider and make recommendations to the board with respect to the sale. The transaction is expected to close on October 31, 2025. Each transaction will be considered for approval at the Company's upcoming annual and special meeting of shareholders which is scheduled to be held on October 7, 2025.
KEDM Inc. completed the acquisition of KEDM Business of Mongolia Growth Group Ltd. (TSXV:YAK) on November 3, 2025. Annonce • Aug 29
KEDM Inc. entered into a definitive agreement to acquire KEDM Business of Mongolia Growth Group Ltd. (TSXV:YAK). KEDM Inc. entered into a definitive agreement to acquire KEDM Business of Mongolia Growth Group Ltd. (TSXV:YAK) on August 26, 2025. Pursuant to the transaction, KEDM Inc. has agreed to purchase all of the assets and undertakings related to the KEDM business in consideration for the assumption of all obligations related to the deferred revenues associated with the KEDM business (which will be retained by Mongolia Growth Group Ltd.) up to and including October 31, 2025 (which deferred revenues are currently estimated to be between CAD 0.6 million and CAD 0.9 million depending on renewals prior to the closing date). In a related transaction, Lemontree LLC entered into a definitive agreement to acquire Office Building in Rincon, Puerto Rico from Mongolia Growth Group Ltd.
The transaction is subject to standard terms and conditions for transactions of this nature, and in addition to the foregoing, is subject to approval of offer by target shareholders and TSX Venture Exchange approval. A special committee of independent members of the board of directors comprised of Brad Farquhar, Jim Dwyer and Rob Scott was formed to oversee, consider and make recommendations to the board with respect to the sale. The transaction is expected to close on October 31, 2025. Reported Earnings • Aug 22
Second quarter 2025 earnings released Second quarter 2025 results: Net loss: CA$6.04m (loss widened 131% from 2Q 2024). Annonce • Jul 30
Mongolia Growth Group Ltd., Annual General Meeting, Oct 07, 2025 Mongolia Growth Group Ltd., Annual General Meeting, Oct 07, 2025. Reported Earnings • May 13
First quarter 2025 earnings released First quarter 2025 results: Net income: CA$5.0k (down 100% from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. New Risk • May 12
New major risk - Revenue and earnings growth Earnings have declined by 3.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.5% per year over the past 5 years. Minor Risks Revenue is less than US$5m (CA$2.7m revenue, or US$1.9m). Market cap is less than US$100m (CA$27.4m market cap, or US$19.5m). Reported Earnings • Apr 02
Full year 2024 earnings released: CA$0.28 loss per share (vs CA$0.18 profit in FY 2023) Full year 2024 results: CA$0.28 loss per share (down from CA$0.18 profit in FY 2023). Net loss: CA$7.39m (down 254% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 20
Third quarter 2024 earnings released: CA$0.03 loss per share (vs CA$0.23 profit in 3Q 2023) Third quarter 2024 results: CA$0.03 loss per share (down from CA$0.23 profit in 3Q 2023). Net loss: CA$761.2k (down 112% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Annonce • Sep 05
Mongolia Growth Group Ltd., Annual General Meeting, Nov 05, 2024 Mongolia Growth Group Ltd., Annual General Meeting, Nov 05, 2024. New Risk • May 22
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 37% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (37% accrual ratio). Minor Risks Revenue is less than US$5m (CA$3.1m revenue, or US$2.3m). Market cap is less than US$100m (CA$42.3m market cap, or US$30.9m). New Risk • May 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 145% Last year net profit margin: 234% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (145% net profit margin). Revenue is less than US$5m (CA$3.3m revenue, or US$2.4m). Market cap is less than US$100m (CA$36.0m market cap, or US$26.2m). Reported Earnings • Apr 27
Full year 2023 earnings released: EPS: CA$0.17 (vs CA$0.29 in FY 2022) Full year 2023 results: EPS: CA$0.17 (down from CA$0.29 in FY 2022). Net income: CA$4.81m (down 39% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Reported Earnings • Nov 24
Third quarter 2023 earnings released: EPS: CA$0.23 (vs CA$0.012 loss in 3Q 2022) Third quarter 2023 results: EPS: CA$0.23 (up from CA$0.012 loss in 3Q 2022). Net income: CA$6.17m (up CA$6.51m from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 90% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CA$1.48, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 9x in the Real Estate industry in Canada. Total returns to shareholders of 622% over the past three years. Reported Earnings • Aug 20
Second quarter 2023 earnings released: EPS: CA$0 (vs CA$0.08 loss in 2Q 2022) Second quarter 2023 results: EPS: CA$0 (improved from CA$0.08 loss in 2Q 2022). Revenue: CA$1.06m (flat on 2Q 2022). Net loss: CA$8.2k (loss narrowed 100% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Aug 04
Mongolia Growth Group Ltd., Annual General Meeting, Oct 10, 2023 Mongolia Growth Group Ltd., Annual General Meeting, Oct 10, 2023. Reported Earnings • May 25
First quarter 2023 earnings released: CA$0.05 loss per share (vs CA$0.23 profit in 1Q 2022) First quarter 2023 results: CA$0.05 loss per share (down from CA$0.23 profit in 1Q 2022). Revenue: CA$1.13m (up 35% from 1Q 2022). Net loss: CA$1.26m (down 120% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 86% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 01
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CA$1.29, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 7x in the Real Estate industry in Canada. Total returns to shareholders of 637% over the past three years. Reported Earnings • Apr 21
Full year 2022 earnings released: EPS: CA$0.29 (vs CA$0.53 in FY 2021) Full year 2022 results: EPS: CA$0.29 (down from CA$0.53 in FY 2021). Net income: CA$7.94m (down 49% from FY 2021). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has increased by 104% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 17
Third quarter 2022 earnings released: CA$0.01 loss per share (vs CA$0.13 profit in 3Q 2021) Third quarter 2022 results: CA$0.01 loss per share (down from CA$0.13 profit in 3Q 2021). Net loss: CA$344.1k (down 109% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has increased by 88% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Jim Dwyer was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 12
Second quarter 2022 earnings released: CA$0.08 loss per share (vs CA$0.12 profit in 2Q 2021) Second quarter 2022 results: CA$0.08 loss per share (down from CA$0.12 profit in 2Q 2021). Net loss: CA$2.22m (down 159% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 87% per year whereas the company’s share price has increased by 88% per year. Annonce • Jul 05
Mongolia Growth Group Ltd., Annual General Meeting, Sep 07, 2022 Mongolia Growth Group Ltd., Annual General Meeting, Sep 07, 2022. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CA$1.61, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 7x in the Real Estate industry in Canada. Total returns to shareholders of 335% over the past three years. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: CA$0.53 (vs CA$0.12 in FY 2020) Full year 2021 results: EPS: CA$0.53 (up from CA$0.12 in FY 2020). Net income: CA$15.5m (up 317% from FY 2020). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 72% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Director Jim Dwyer was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 23
Full year 2021 earnings released Full year 2021 results: Net income: CA$15.5m (up 317% from FY 2020). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improved over the past week After last week's 16% share price gain to CA$1.89, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 12x in the Real Estate industry in Canada. Total returns to shareholders of 520% over the past three years. Reported Earnings • Nov 14
Third quarter 2021 earnings released: EPS CA$0.13 (vs CA$0.032 in 3Q 2020) Third quarter 2021 results: Net income: CA$3.86m (up 268% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 62% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improved over the past week After last week's 16% share price gain to CA$1.44, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 14x in the Real Estate industry in Canada. Total returns to shareholders of 324% over the past three years. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 30% share price gain to CA$1.17, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 12x in the Real Estate industry in Canada. Total returns to shareholders of 284% over the past three years. Reported Earnings • Aug 28
Second quarter 2021 earnings released: EPS CA$0.13 (vs CA$0.039 loss in 2Q 2020) Second quarter 2021 results: Net income: CA$3.76m (up CA$5.04m from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
First quarter 2021 earnings released: EPS CA$0.20 (vs CA$0.04 loss in 1Q 2020) First quarter 2021 results: Net income: CA$6.12m (up CA$7.41m from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 08
Full year 2020 earnings released: EPS CA$0.12 (vs CA$0.099 loss in FY 2019) Full year 2020 results: Net income: CA$3.73m (up CA$6.98m from FY 2019). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Recent Insider Transactions • Feb 28
Executive Chairman & CEO recently bought CA$93k worth of stock On the 26th of February, Harris Kupperman bought around 216k shares on-market at roughly CA$0.43 per share. This was the largest purchase by an insider in the last 3 months. Harris has been a buyer over the last 12 months, purchasing a net total of CA$137k worth in shares. Is New 90 Day High Low • Feb 09
New 90-day high: CA$0.45 The company is up 125% from its price of CA$0.20 on 09 November 2020. The Canadian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 6.0% over the same period. Is New 90 Day High Low • Jan 06
New 90-day high: CA$0.36 The company is up 85% from its price of CA$0.20 on 06 October 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 2.0% over the same period. Is New 90 Day High Low • Dec 19
New 90-day high: CA$0.30 The company is up 46% from its price of CA$0.20 on 18 September 2020. The Canadian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 5.0% over the same period. Is New 90 Day High Low • Dec 02
New 90-day high: CA$0.24 The company is up 14% from its price of CA$0.21 on 02 September 2020. The Canadian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 5.0% over the same period. Reported Earnings • Nov 12
Third quarter 2020 earnings released: EPS CA$0.03 Third quarter 2020 results: Net income: CA$1.05m (up CA$1.73m from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.