New Risk • Jul 01
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 Brazilian stocks, typically moving 6.2% 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 Earnings have declined by 65% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (R$366.7m market cap, or US$70.3m). Reported Earnings • May 19
First quarter 2026 earnings released First quarter 2026 results: Revenue: R$65.9m (down 5.0% from 1Q 2025). Net loss: R$5.20m (loss widened R$4.44m from 1Q 2025). Announcement • Mar 31
Neogrid Participações S.A., Annual General Meeting, Apr 30, 2026 Neogrid Participações S.A., Annual General Meeting, Apr 30, 2026. Reported Earnings • Nov 09
Third quarter 2025 earnings: Revenues miss analyst expectations Third quarter 2025 results: Revenue: R$67.9m (down 1.1% from 3Q 2024). Net income: R$3.42m (up R$11.0m from 3Q 2024). Profit margin: 5.0% (up from net loss in 3Q 2024). Revenue missed analyst estimates by 16%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Global Software industry. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 118 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 10
Second quarter 2025 earnings: Revenues miss analyst expectations Second quarter 2025 results: Revenue: R$68.6m (up 1.2% from 2Q 2024). Net loss: R$4.51m (loss narrowed 9.6% from 2Q 2024). Revenue missed analyst estimates by 11%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Global Software industry. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. New Risk • Jun 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Brazilian stocks, typically moving 9.1% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.1% average weekly change). Earnings have declined by 52% per year over the past 5 years. Minor Risk Market cap is less than US$100m (R$232.0m market cap, or US$41.8m). Reported Earnings • May 19
First quarter 2025 earnings: Revenues miss analyst expectations First quarter 2025 results: Revenue: R$69.3m (up 2.0% from 1Q 2024). Net loss: R$756.0k (loss narrowed 78% from 1Q 2024). Revenue missed analyst estimates by 11%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Global Software industry. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Announcement • Apr 02
Neogrid Participações S.A., Annual General Meeting, Apr 30, 2025 Neogrid Participações S.A., Annual General Meeting, Apr 30, 2025. New Risk • Jan 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Brazilian stocks, typically moving 9.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.8% average weekly change). Earnings have declined by 33% per year over the past 5 years. Minor Risk Market cap is less than US$100m (R$193.9m market cap, or US$32.9m). New Risk • Nov 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Brazilian stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.2% average weekly change). Earnings have declined by 33% per year over the past 5 years. Minor Risk Market cap is less than US$100m (R$268.0m market cap, or US$46.2m). Reported Earnings • Nov 05
Third quarter 2024 earnings: Revenues miss analyst expectations Third quarter 2024 results: Revenue: R$68.6m (up 4.8% from 3Q 2023). Net loss: R$7.56m (loss widened 341% from 3Q 2023). Revenue missed analyst estimates by 2.9%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Software industry. New Risk • Sep 10
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 Brazilian stocks, typically moving 6.8% 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 Earnings have declined by 26% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (R$242.2m market cap, or US$43.4m). Reported Earnings • Aug 07
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: R$67.8m (up 3.2% from 2Q 2023). Net loss: R$4.99m (loss widened 61% from 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Software industry. Price Target Changed • Jul 01
Price target decreased by 40% to R$0.90 Down from R$1.50, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of R$0.89. Stock is down 54% over the past year. The company is forecast to post earnings per share of R$0.063 for next year compared to R$0.011 last year. Reported Earnings • May 07
First quarter 2024 earnings released: R$0.015 loss per share (vs R$0.015 profit in 1Q 2023) First quarter 2024 results: R$0.015 loss per share (down from R$0.015 profit in 1Q 2023). Revenue: R$68.0m (down 2.7% from 1Q 2023). Net loss: R$3.41m (down 198% from profit in 1Q 2023). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Global Software industry. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 47% per year, which means it has not declined as severely as earnings. Price Target Changed • Mar 19
Price target decreased by 13% to R$1.35 Down from R$1.55, the current price target is an average from 2 analysts. New target price is 24% above last closing price of R$1.09. Stock is down 0.9% over the past year. The company is forecast to post earnings per share of R$0.096 for next year compared to R$0.011 last year. New Risk • Mar 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.6% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.0% net profit margin). Market cap is less than US$100m (R$249.1m market cap, or US$50.0m). New Risk • Mar 06
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: 1.0% Last year net profit margin: 5.4% 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 Earnings have declined by 7.6% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (1.0% net profit margin). Market cap is less than US$100m (R$258.2m market cap, or US$52.3m). Announcement • Feb 06
Neogrid Participações S.A. (BOVESPA:NGRD3) acquired an unknown remaining majority stake in Horus Aeronaves Ltda. Neogrid Participações S.A. (BOVESPA:NGRD3) acquired an unknown remaining majority stake in Horus Aeronaves Ltda. on February 4, 2024. Upon completion, Neogrid holds 100% in Horus.
Neogrid Participações S.A. (BOVESPA:NGRD3) completed the acquisition of an unknown remaining majority stake in Horus Aeronaves Ltda. on February 4, 2024. Reported Earnings • Nov 17
Third quarter 2023 earnings: Revenues miss analyst expectations Third quarter 2023 results: Revenue: R$65.5m (down 3.1% from 3Q 2022). Net loss: R$1.72m (down 200% from profit in 3Q 2022). Revenue missed analyst estimates by 14%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Global Software industry. New Risk • Sep 19
New major risk - Revenue and earnings growth Earnings have declined by 0.9% 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 0.9% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (R$299.4m market cap, or US$61.4m). Price Target Changed • Sep 19
Price target decreased by 17% to R$1.55 Down from R$1.87, the current price target is an average from 2 analysts. New target price is 18% above last closing price of R$1.31. Stock is down 21% over the past year. The company is forecast to post earnings per share of R$0.056 for next year compared to R$0.061 last year. Reported Earnings • Aug 11
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: R$65.7m (up 3.5% from 2Q 2022). Net loss: R$3.10m (loss widened 53% from 2Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Software industry. Buying Opportunity • Aug 10
Now 29% undervalued Over the last 90 days, the stock is up 2.9%. The fair value is estimated to be R$1.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 18%. Revenue is forecast to grow by 28% in 2 years. Earnings is forecast to grow by 119% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to R$1.89, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 35x in the Software industry globally. Total loss to shareholders of 7.3% over the past year. Simply Wall St's valuation model estimates the intrinsic value at R$1.46 per share. Major Estimate Revision • Jun 14
Consensus EPS estimates increase by 100%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from R$301.1m to R$297.8m. EPS estimate rose from R$0.04 to R$0.08. Net income forecast to grow 54% next year vs 25% growth forecast for Software industry in Brazil. Consensus price target down from R$1.93 to R$1.87. Share price fell 6.6% to R$1.55 over the past week. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R$1.50, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 32x in the Software industry globally. Total loss to shareholders of 33% over the past year. Simply Wall St's valuation model estimates the intrinsic value at R$1.30 per share. Reported Earnings • May 11
First quarter 2023 earnings released First quarter 2023 results: Revenue: R$69.9m (up 7.6% from 1Q 2022). Net income: R$3.48m (down 12% from 1Q 2022). Profit margin: 5.0% (down from 6.1% in 1Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Software industry. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to R$1.28, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 34x in the Software industry globally. Total loss to shareholders of 47% over the past year. Simply Wall St's valuation model estimates the intrinsic value at R$1.25 per share. Price Target Changed • Mar 14
Price target decreased by 17% to R$2.00 Down from R$2.42, the current price target is an average from 4 analysts. New target price is 79% above last closing price of R$1.12. Stock is down 52% over the past year. Reported Earnings • Mar 08
Full year 2022 earnings released Full year 2022 results: Revenue: R$265.7m (up 8.2% from FY 2021). Net income: R$14.2m (down 2.6% from FY 2021). Profit margin: 5.4% (down from 5.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Global Software industry. Buying Opportunity • Feb 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be R$1.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 21%. Buying Opportunity • Dec 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be R$1.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 21%. Buying Opportunity • Dec 09
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be R$1.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 21%. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jorge Steffens was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Nov 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be R$2.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Reported Earnings • Nov 06
Third quarter 2022 earnings: Revenues exceed analyst expectations Third quarter 2022 results: Revenue: R$67.6m (up 10% from 3Q 2021). Net income: R$1.72m (up 2.7% from 3Q 2021). Profit margin: 2.5% (down from 2.7% in 3Q 2021). Revenue exceeded analyst estimates by 4.0%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Global Software industry. Board Change • Nov 02
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Jorge Steffens was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Sep 16
Price target decreased to R$2.50 Down from R$2.77, the current price target is an average from 4 analysts. New target price is 49% above last closing price of R$1.68. Stock is down 68% over the past year. The company is forecast to post earnings per share of R$0.03 for next year compared to R$0.062 last year. Reported Earnings • Aug 10
Second quarter 2022 earnings: Revenues miss analyst expectations Second quarter 2022 results: Revenue: R$63.5m (up 8.0% from 2Q 2021). Net loss: R$2.03m (down 123% from profit in 2Q 2021). Revenue missed analyst estimates by 1.9%. Over the next year, revenue is forecast to grow 9.2%, compared to a 19% growth forecast for the industry in Brazil. Price Target Changed • Jul 26
Price target decreased to R$2.77 Down from R$3.37, the current price target is an average from 3 analysts. New target price is 39% above last closing price of R$1.99. Stock is down 69% over the past year. The company is forecast to post earnings per share of R$0.10 for next year compared to R$0.062 last year. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improved over the past week After last week's 17% share price gain to R$2.12, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 27x in the Software industry globally. Total loss to shareholders of 68% over the past year. Reported Earnings • May 12
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: R$0.017 (down from R$0.027 in 1Q 2021). Revenue: R$64.9m (up 11% from 1Q 2021). Net income: R$3.94m (down 38% from 1Q 2021). Profit margin: 6.1% (down from 11% in 1Q 2021). Revenue missed analyst estimates by 7.4%. Earnings per share (EPS) also missed analyst estimates by 29%. Over the next year, revenue is forecast to grow 18%, compared to a 30% growth forecast for the industry in Brazil. Price Target Changed • Apr 27
Price target decreased to R$3.37 Down from R$4.43, the current price target is an average from 3 analysts. New target price is 46% above last closing price of R$2.30. Stock is down 67% over the past year. The company is forecast to post earnings per share of R$0.13 for next year compared to R$0.062 last year. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Director Jorge Steffens was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Apr 21
Upcoming dividend of R$0.015 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 15 June 2022. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Brazilian dividend payers (6.4%). Lower than average of industry peers (0.9%). Reported Earnings • Mar 16
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: R$245.6m (up 16% from FY 2020). Net income: R$14.6m (up 18% from FY 2020). Profit margin: 5.9% (in line with FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 17%, compared to a 47% growth forecast for the industry in Brazil. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improved over the past week After last week's 15% share price gain to R$2.74, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 33x in the Software industry globally. Total loss to shareholders of 77% over the past year. Simply Wall St's valuation model estimates the intrinsic value at R$4.96 per share. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment deteriorated over the past week After last week's 18% share price decline to R$2.66, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 33x in the Software industry globally. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorated over the past week After last week's 22% share price decline to R$3.14, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 35x in the Software industry globally. Reported Earnings • Nov 17
Third quarter 2021 earnings released The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: R$61.4m (up 15% from 3Q 2020). Net income: R$1.67m (down 40% from 3Q 2020). Profit margin: 2.7% (down from 5.2% in 3Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment deteriorated over the past week After last week's 18% share price decline to R$4.04, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 35x in the Software industry globally. Simply Wall St's valuation model estimates the intrinsic value at R$7.85 per share. Reported Earnings • Apr 01
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: R$212.6m (up 2.6% from FY 2019). Net income: R$12.4m (up 43% from FY 2019). Profit margin: 5.8% (up from 4.2% in FY 2019).