Reported Earnings • Nov 11
Third quarter 2022 earnings released: US$0.14 loss per share (vs US$0.16 loss in 3Q 2021) Third quarter 2022 results: US$0.14 loss per share (improved from US$0.16 loss in 3Q 2021). Revenue: US$11.7m (down 18% from 3Q 2021). Net loss: US$6.67m (loss narrowed 13% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 29
Second quarter 2022 earnings: EPS exceeds analyst expectations Second quarter 2022 results: US$0.11 loss per share (down from US$0.03 loss in 2Q 2021). Revenue: US$11.9m (down 19% from 2Q 2021). Net loss: US$5.14m (loss widened 281% from 2Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Over the next year, revenue is forecast to stay flat compared to a 20% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Recent Insider Transactions • May 27
Insider recently bought US$87k worth of stock On the 23rd of May, Thomas Satterfield bought around 150k shares on-market at roughly US$0.58 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Major Estimate Revision • May 12
Consensus revenue estimates fall by 14% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$58.8m to US$50.7m. Forecast losses increased from -US$0.35 to -US$0.50 per share. Software industry in the US expected to see average net income growth of 7.5% next year. Consensus price target down from US$4.00 to US$3.00. Share price rose 9.1% to US$0.55 over the past week. Reported Earnings • May 06
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: US$0.11 loss per share (up from US$0.27 loss in 1Q 2021). Revenue: US$13.3m (down 16% from 1Q 2021). Net loss: US$5.23m (loss narrowed 50% from 1Q 2021). Revenue exceeded analyst estimates by 8.8%. Earnings per share (EPS) also surpassed analyst estimates by 8.3%. Over the next year, revenue is expected to shrink by 6.6% compared to a 36% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to US$4.00 Down from US$6.00, the current price target is provided by 1 analyst. New target price is 695% above last closing price of US$0.50. Stock is down 81% over the past year. The company is forecast to post a net loss per share of US$0.35 next year compared to a net loss per share of US$0.48 last year. Major Estimate Revision • Feb 16
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$60.7m to US$58.8m. Losses expected to increase from US$0.29 per share to US$0.35. Software industry in the US expected to see average net income growth of 7.2% next year. Consensus price target of US$4.00 unchanged from last update. Share price fell 13% to US$0.71 over the past week. Reported Earnings • Feb 12
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: US$0.48 loss per share (down from US$0.13 loss in FY 2020). Revenue: US$58.2m (down 14% from FY 2020). Net loss: US$21.2m (loss widened 340% from FY 2020). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 1.1%, compared to a 234% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 06
Third quarter 2021 earnings released: US$0.16 loss per share (vs US$0.084 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: US$14.3m (down 13% from 3Q 2020). Net loss: US$7.67m (loss widened 137% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Aug 20
President & COO exercised options and sold US$52k worth of stock On the 17th of August, Michael Ensing exercised options to acquire 33k shares at no cost and sold these for an average price of US$1.59 per share. This trade did not impact their existing holding. As of today, Michael currently holds no shares directly. Company insiders have collectively sold US$148k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • May 13
First quarter 2021 earnings released: US$0.27 loss per share (vs US$0.12 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: US$15.9m (down 63% from 1Q 2020). Net loss: US$10.4m (loss widened 125% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 10
New 90-day high: US$3.04 The company is up 134% from its price of US$1.30 on 11 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 17% over the same period. Is New 90 Day High Low • Jan 23
New 90-day high: US$2.14 The company is up 30% from its price of US$1.65 on 23 October 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 8.0% over the same period. Reported Earnings • Nov 06
Third quarter 2020 earnings released: US$0.084 loss per share The company reported a soft third quarter result with weaker revenues and control over expenses, though losses reduced. Third quarter 2020 results: Revenue: US$16.6m (down 63% from 3Q 2019). Net loss: US$3.23m (loss narrowed 46% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings.