Reported Earnings • May 12
First quarter 2026 earnings released First quarter 2026 results: Revenue: NT$51.6m (up 122% from 1Q 2025). Net loss: NT$1.53m (loss narrowed 94% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: NT$0.24 (vs NT$0.067 in FY 2024) Full year 2025 results: EPS: NT$0.24 (up from NT$0.067 in FY 2024). Revenue: NT$253.1m (down 9.9% from FY 2024). Net income: NT$7.80m (up 264% from FY 2024). Profit margin: 3.1% (up from 0.8% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. New Risk • Mar 13
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 41% 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 (41% accrual ratio). Minor Risk Market cap is less than US$100m (NT$643.2m market cap, or US$20.1m). 공고 • Mar 09
EBM Technologies Incorporated, Annual General Meeting, Jun 25, 2026 EBM Technologies Incorporated, Annual General Meeting, Jun 25, 2026. Location: 5 floor no,516, sec.1 nei hu rd., taipei city Taiwan Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: NT$0.82 (vs NT$0.28 loss in 3Q 2024) Third quarter 2025 results: EPS: NT$0.82 (up from NT$0.28 loss in 3Q 2024). Revenue: NT$113.6m (up 136% from 3Q 2024). Net income: NT$26.4m (up NT$35.3m from 3Q 2024). Profit margin: 23% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Nov 06
Now 22% undervalued Over the last 90 days, the stock has risen 4.1% to NT$22.90. The fair value is estimated to be NT$29.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.0% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Aug 06
Second quarter 2025 earnings released: NT$0.62 loss per share (vs NT$0.99 loss in 2Q 2024) Second quarter 2025 results: NT$0.62 loss per share (improved from NT$0.99 loss in 2Q 2024). Revenue: NT$33.5m (up 20% from 2Q 2024). Net loss: NT$19.9m (loss narrowed 37% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • May 09
First quarter 2025 earnings released: NT$0.78 loss per share (vs NT$0.69 loss in 1Q 2024) First quarter 2025 results: NT$0.78 loss per share (further deteriorated from NT$0.69 loss in 1Q 2024). Revenue: NT$23.3m (down 14% from 1Q 2024). Net loss: NT$25.0m (loss widened 14% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 19
Full year 2024 earnings released: EPS: NT$0.07 (vs NT$0.44 loss in FY 2023) Full year 2024 results: EPS: NT$0.07 (up from NT$0.44 loss in FY 2023). Revenue: NT$281.0m (up 36% from FY 2023). Net income: NT$2.14m (up NT$16.1m from FY 2023). Profit margin: 0.8% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. 공고 • Mar 07
EBM Technologies Incorporated, Annual General Meeting, Jun 18, 2025 EBM Technologies Incorporated, Annual General Meeting, Jun 18, 2025. Location: 5 floor no,516, sec.1 nei hu rd., taipei city Taiwan Reported Earnings • Nov 12
Third quarter 2024 earnings released: NT$0.28 loss per share (vs NT$0.43 loss in 3Q 2023) Third quarter 2024 results: NT$0.28 loss per share (improved from NT$0.43 loss in 3Q 2023). Revenue: NT$48.2m (up 11% from 3Q 2023). Net loss: NT$8.91m (loss narrowed 35% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. New Risk • Aug 18
New major risk - Revenue and earnings growth Earnings have declined by 2.0% 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 2.0% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NT$643.2m market cap, or US$20.0m). Reported Earnings • Aug 18
Second quarter 2024 earnings released: NT$0.99 loss per share (vs NT$0.46 loss in 2Q 2023) Second quarter 2024 results: NT$0.99 loss per share (further deteriorated from NT$0.46 loss in 2Q 2023). Revenue: NT$27.8m (down 18% from 2Q 2023). Net loss: NT$31.7m (loss widened 114% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • May 19
First quarter 2024 earnings released: NT$0.69 loss per share (vs NT$0.57 loss in 1Q 2023) First quarter 2024 results: NT$0.69 loss per share (further deteriorated from NT$0.57 loss in 1Q 2023). Revenue: NT$26.9m (down 14% from 1Q 2023). Net loss: NT$21.9m (loss widened 21% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. 공고 • Mar 23
EBM Technologies Incorporated, Annual General Meeting, Jun 20, 2024 EBM Technologies Incorporated, Annual General Meeting, Jun 20, 2024. Reported Earnings • Mar 23
Full year 2023 earnings released: NT$0.44 loss per share (vs NT$0.13 profit in FY 2022) Full year 2023 results: NT$0.44 loss per share (down from NT$0.13 profit in FY 2022). Revenue: NT$206.1m (down 46% from FY 2022). Net loss: NT$14.0m (down 450% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • Nov 08
Third quarter 2023 earnings released: NT$0.43 loss per share (vs NT$0.40 loss in 3Q 2022) Third quarter 2023 results: NT$0.43 loss per share (further deteriorated from NT$0.40 loss in 3Q 2022). Revenue: NT$43.5m (up 9.7% from 3Q 2022). Net loss: NT$13.7m (loss widened 6.8% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 13% per year. Reported Earnings • Aug 12
Second quarter 2023 earnings released: NT$0.46 loss per share (vs NT$0.69 loss in 2Q 2022) Second quarter 2023 results: NT$0.46 loss per share (improved from NT$0.69 loss in 2Q 2022). Revenue: NT$34.0m (down 1.1% from 2Q 2022). Net loss: NT$14.9m (loss narrowed 32% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: NT$0.13 (vs NT$0.73 loss in FY 2021) Full year 2022 results: EPS: NT$0.13 (up from NT$0.73 loss in FY 2021). Revenue: NT$383.9m (up 97% from FY 2021). Net income: NT$4.00m (up NT$25.9m from FY 2021). Profit margin: 1.0% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 10
Third quarter 2022 earnings released: NT$0.40 loss per share (vs NT$0.30 loss in 3Q 2021) Third quarter 2022 results: NT$0.40 loss per share (further deteriorated from NT$0.30 loss in 3Q 2021). Revenue: NT$39.6m (down 16% from 3Q 2021). Net loss: NT$12.9m (loss widened 38% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to NT$17.55, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 34x in the Healthcare Services industry in Asia. Total returns to shareholders of 23% over the past three years. Reported Earnings • Aug 15
Second quarter 2022 earnings released: NT$0.68 loss per share (vs NT$0.65 loss in 2Q 2021) Second quarter 2022 results: NT$0.68 loss per share (down from NT$0.65 loss in 2Q 2021). Revenue: NT$34.4m (up 2.4% from 2Q 2021). Net loss: NT$21.9m (loss widened 21% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 14
First quarter 2022 earnings released: EPS: NT$0.86 (vs NT$0.57 loss in 1Q 2021) First quarter 2022 results: EPS: NT$0.86 (up from NT$0.57 loss in 1Q 2021). Revenue: NT$212.1m (up NT$184.2m from 1Q 2021). Net income: NT$27.6m (up NT$43.7m from 1Q 2021). Profit margin: 13% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2021 earnings released: NT$0.30 loss per share (vs NT$0.27 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: NT$47.3m (up 9.9% from 3Q 2020). Net loss: NT$9.32m (loss widened 22% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • May 12
First quarter 2021 earnings released: NT$0.57 loss per share (vs NT$0.44 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: NT$27.8m (down 57% from 1Q 2020). Net loss: NT$16.1m (loss widened 30% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has increased by 1% per year. 공고 • Mar 19
EBM Technologies Incorporated, Annual General Meeting, Jun 24, 2021 EBM Technologies Incorporated, Annual General Meeting, Jun 24, 2021. Reported Earnings • Mar 18
Full year 2020 earnings released: NT$1.08 loss per share (vs NT$0.51 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: NT$215.3m (down 8.2% from FY 2019). Net loss: NT$30.2m (loss widened 110% from FY 2019). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 07
New 90-day high: NT$20.60 The company is up 11% from its price of NT$18.50 on 08 October 2020. The Taiwanese market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Healthcare Services industry, which is up 19% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: NT$0.27 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: NT$43.0m (up 34% from 3Q 2019). Net loss: NT$7.61m (loss narrowed 68% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Nov 06
New 90-day low: NT$17.75 The company is down 11% from its price of NT$19.95 on 07 August 2020. The Taiwanese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Healthcare Services industry, which is up 10.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: NT$18.00 The company is down 16% from its price of NT$21.40 on 24 June 2020. The Taiwanese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Healthcare Services industry, which is up 3.0% over the same period.