Aankondiging • Apr 12
The Common Shares of IBEX Technologies to Be Delisted from TSX Venture Exchange, in Connection with the Completion of the Amalgamation and Effective at the Close of Business on April 11, 2024 TSX Venture Exchange has accepted for filing an acquisition agreement dated February 9, 2024 between IBEX Technologies Inc. (the Company) and an arm's length third party (the "Acquirer") pursuant to which the Acquirer acquired all of the issued and outstanding common shares of the Company by way of an amalgamation under the Canada Business Corporations Act (the "CBCA") (the "Amalgamation"). In connection with the completion of the Amalgamation and effective at the close of business on April 11, 2024, the common shares of the Company will be delisted from TSX Venture Exchange. Aankondiging • Mar 25
IBEX Technologies Provides Delisting Update IBEX Technologies Inc. has entered into an agreement for the sale of the company. Subject to shareholder approval on April 3, 2024, the transaction is expected to close on April 8, 2024, following which the company will be delisted from the TSX Venture Exchange. New Risk • Feb 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (77% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (CA$27.5m market cap, or US$20.4m). Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to CA$1.41, the stock trades at a trailing P/E ratio of 8.6x. Average trailing P/E is 17x in the Biotechs industry in North America. Total returns to shareholders of 348% over the past three years. Reported Earnings • Dec 15
First quarter 2024 earnings released: EPS: CA$0.03 (vs CA$0.03 in 1Q 2023) First quarter 2024 results: EPS: CA$0.03 (in line with 1Q 2023). Revenue: CA$2.06m (up 18% from 1Q 2023). Net income: CA$810.3k (up 19% from 1Q 2023). Profit margin: 39% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Dec 15
IBEX Technologies Inc. Provides Earnings Guidance for the Fiscal Year 2024 IBEX Technologies Inc. provided earnings guidance for the fiscal year 2024. For the year, the company expects revenues to be in the fiscal year 2023 range, with continued strong growth in the hemostasis business. Earnings before tax to be in line with the fiscal year 2023. Aankondiging • Nov 18
IBEX Technologies Inc., Annual General Meeting, Jan 24, 2024 IBEX Technologies Inc., Annual General Meeting, Jan 24, 2024. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CA$1.12, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 14x in the Biotechs industry in North America. Total returns to shareholders of 300% over the past three years. New Risk • Jun 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (CA$22.8m market cap, or US$17.2m). Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CA$1.14, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 12x in the Biotechs industry in North America. Total returns to shareholders of 375% over the past three years. New Risk • Jun 08
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% 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 (26% accrual ratio). Minor Risk Market cap is less than US$100m (CA$21.1m market cap, or US$15.8m). Reported Earnings • Jun 08
Third quarter 2023 earnings released: EPS: CA$0.03 (vs CA$0.02 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.03 (up from CA$0.02 in 3Q 2022). Revenue: CA$2.26m (up 2.5% from 3Q 2022). Net income: CA$891.4k (up 56% from 3Q 2022). Profit margin: 39% (up from 26% in 3Q 2022). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 21
Second quarter 2023 earnings released: EPS: CA$0.003 (vs CA$0.02 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.003 (down from CA$0.02 in 2Q 2022). Revenue: CA$1.72m (down 6.0% from 2Q 2022). Net income: CA$100.0k (down 75% from 2Q 2022). Profit margin: 5.8% (down from 22% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has increased by 99% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Dec 16
First quarter 2023 earnings released: EPS: CA$0.03 (vs CA$0.03 in 1Q 2022) First quarter 2023 results: EPS: CA$0.03 (in line with 1Q 2022). Revenue: CA$1.75m (down 1.7% from 1Q 2022). Net income: CA$678.5k (up 2.1% from 1Q 2022). Profit margin: 39% (up from 37% in 1Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 69% per year whereas the company’s share price has increased by 71% per year. Aankondiging • Nov 19
IBEX Technologies Inc., Annual General Meeting, Jan 25, 2023 IBEX Technologies Inc., Annual General Meeting, Jan 25, 2023. Reported Earnings • Nov 16
Full year 2022 earnings released: EPS: CA$0.067 (vs CA$0.031 in FY 2021) Full year 2022 results: EPS: CA$0.067 (up from CA$0.031 in FY 2021). Revenue: CA$7.89m (up 49% from FY 2021). Net income: CA$1.67m (up 120% from FY 2021). Profit margin: 21% (up from 14% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 11
Third quarter 2022 earnings released: EPS: CA$0.02 (vs CA$0.014 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.02 (up from CA$0.014 in 3Q 2021). Revenue: CA$2.21m (up 51% from 3Q 2021). Net income: CA$569.6k (up 71% from 3Q 2021). Profit margin: 26% (up from 23% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 19
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: CA$0.02 (up from CA$0.012 in 2Q 2021). Revenue: CA$1.83m (up 40% from 2Q 2021). Net income: CA$405.5k (up 63% from 2Q 2021). Profit margin: 22% (up from 19% in 2Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Reported Earnings • Dec 17
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: CA$0.03 (up from CA$0.01 in 1Q 2021). Revenue: CA$1.78m (up 53% from 1Q 2021). Net income: CA$664.6k (up 343% from 1Q 2021). Profit margin: 37% (up from 13% in 1Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Board Change • Jul 31
High number of new directors Director Christine Charette was the last director to join the board, commencing their role in 2021. Reported Earnings • Jun 19
Third quarter 2021 earnings released The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CA$1.47m (down 13% from 3Q 2020). Net income: CA$333.5k (down 47% from 3Q 2020). Profit margin: 23% (down from 37% in 3Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year. Reported Earnings • Mar 20
Second quarter 2021 earnings released: EPS CA$0.012 (vs CA$0.001 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$1.31m (up 31% from 2Q 2020). Net income: CA$248.5k (up CA$277.5k from 2Q 2020). Profit margin: 19% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 10
New 90-day high: CA$0.30 The company is up 13% from its price of CA$0.27 on 11 November 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Biotechs industry, which is up 30% over the same period. Aankondiging • Nov 14
IBEX Technologies Inc., Annual General Meeting, Jan 20, 2021 IBEX Technologies Inc., Annual General Meeting, Jan 20, 2021. Reported Earnings • Nov 07
Full year 2020 earnings released: EPS CA$0.04 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CA$5.21m (up 21% from FY 2019). Net income: CA$965.7k (up CA$2.23m from FY 2019). Profit margin: 19% (up from net loss in FY 2019). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 93% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 07
New 90-day high: CA$0.30 The company is up 45% from its price of CA$0.21 on 07 August 2020. The Canadian market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 7.0% over the same period.