New Risk • Jun 05
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: CA$1.4m (US$999k) 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 Risk Revenue is less than US$1m (CA$1.4m revenue, or US$999k). Minor Risk Market cap is less than US$100m (CA$128.3m market cap, or US$92.1m). Reported Earnings • May 05
Second quarter 2026 earnings released: EPS: CA$0.017 (vs CA$0.019 loss in 2Q 2025) Second quarter 2026 results: EPS: CA$0.017 (up from CA$0.019 loss in 2Q 2025). Net income: CA$2.16m (up CA$4.59m from 2Q 2025). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 30
First quarter 2026 earnings released: CA$0.029 loss per share (vs CA$0.037 profit in 1Q 2025) First quarter 2026 results: CA$0.029 loss per share (down from CA$0.037 profit in 1Q 2025). Net loss: CA$3.71m (down 179% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 73% per year, which means it is significantly lagging earnings growth. Reported Earnings • Dec 23
Full year 2025 earnings released: EPS: CA$0.003 (vs CA$0.019 in FY 2024) Full year 2025 results: EPS: CA$0.003 (down from CA$0.019 in FY 2024). Revenue: CA$1.78m (down 26% from FY 2024). Net income: CA$367.6k (down 85% from FY 2024). Profit margin: 21% (down from 101% in FY 2024). Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 86% per year, which means it is significantly lagging earnings growth. Announcement • Dec 16
Neptune Digital Assets Corp., Annual General Meeting, Feb 26, 2026 Neptune Digital Assets Corp., Annual General Meeting, Feb 26, 2026. New Risk • Dec 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 Canadian stocks, typically moving 19% 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 are forecast to decline by an average of 128% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$1.0m net loss next year). Share price has been volatile over the past 3 months (19% average weekly change). Revenue is less than US$5m (CA$1.8m revenue, or US$1.3m). Market cap is less than US$100m (CA$89.4m market cap, or US$64.8m). New Risk • Aug 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CA$136.0m (US$98.0m) This is considered a minor risk. Companies with a small market capitalization 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 Risk Earnings are forecast to decline by an average of 128% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$1.0m net loss next year). Revenue is less than US$5m (CA$1.8m revenue, or US$1.3m). Market cap is less than US$100m (CA$136.0m market cap, or US$98.0m). New Risk • Jul 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 128% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 128% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable next year (CA$1.0m net loss next year). Share price has been volatile over the past 3 months (13% average weekly change). Revenue is less than US$5m (CA$1.8m revenue, or US$1.4m). Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CA$1.63, the stock trades at a forward P/E ratio of 19832x. Average forward P/E is 23x in the Software industry in Canada. Total returns to shareholders of 539% over the past three years. Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CA$1.67, the stock trades at a forward P/E ratio of 20318x. Average forward P/E is 21x in the Software industry in Canada. Total returns to shareholders of 496% over the past three years. Valuation Update With 7 Day Price Move • May 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CA$2.05, the stock trades at a forward P/E ratio of 24942x. Average forward P/E is 21x in the Software industry in Canada. Total returns to shareholders of 572% over the past three years. New Risk • May 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 167% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 167% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (18% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (CA$2.1m revenue, or US$1.5m). Major Estimate Revision • May 02
Consensus EPS estimates fall by 50% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CA$1.82m to CA$1.67m. EPS estimate also fell from CA$0.02 per share to CA$0.01 per share. Net income forecast to shrink 98% next year vs 2.3% growth forecast for Software industry in Canada . Consensus price target of CA$3.00 unchanged from last update. Share price was steady at CA$1.75 over the past week. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CA$1.50, the stock trades at a forward P/E ratio of 120x. Average forward P/E is 20x in the Software industry in Canada. Total returns to shareholders of 295% over the past three years. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CA$1.45, the stock trades at a forward P/E ratio of 116x. Average forward P/E is 19x in the Software industry in Canada. Total returns to shareholders of 230% over the past three years. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to CA$1.42, the stock trades at a forward P/E ratio of 113x. Average forward P/E is 13x in the Software industry in Canada. Total returns to shareholders of 284% over the past three years. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CA$1.35, the stock trades at a forward P/E ratio of 108x. Average forward P/E is 20x in the Software industry in Canada. Total returns to shareholders of 225% over the past three years. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment deteriorates as stock falls 28% After last week's 28% share price decline to CA$1.94, the stock trades at a forward P/E ratio of 155x. Average forward P/E is 23x in the Software industry in Canada. Total returns to shareholders of 308% over the past three years. New Risk • Jan 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 123% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings are forecast to decline by an average of 123% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Revenue is less than US$5m (CA$2.2m revenue, or US$1.5m). Reported Earnings • Jan 23
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: CA$0.037 (up from CA$0.008 in 1Q 2024). Net income: CA$4.69m (up 361% from 1Q 2024). Revenue missed analyst estimates by 54%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions Derivative • Jan 17
Independent Director exercised options and sold CA$93k worth of stock On the 10th of January, Mitchell Demeter exercised 120k options at a strike price of around CA$0.20 and sold these shares for an average price of CA$0.98 per share. This trade did not impact their existing holding. Since March 2024, Mitchell has owned 264.12k shares directly. Company insiders have collectively bought CA$229k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Dec 20
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CA$0.019 (up from CA$0.041 loss in FY 2023). Net income: CA$2.43m (up CA$7.55m from FY 2023). Revenue exceeded analyst estimates by 33%. Earnings per share (EPS) missed analyst estimates by 33%. 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 24% per year, which means it is well ahead of earnings. Announcement • Dec 17
Neptune Digital Assets Corp., Annual General Meeting, Feb 26, 2025 Neptune Digital Assets Corp., Annual General Meeting, Feb 26, 2025. Breakeven Date Change • Aug 31
No longer forecast to breakeven The analyst covering Neptune Digital Assets no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of CA$122.4k in 2024. New forecast suggests the company will make a loss of CA$3.42m in 2024. Reported Earnings • Jul 30
Third quarter 2024 earnings released: EPS: CA$0.025 (vs CA$0.001 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.025 (up from CA$0.001 in 3Q 2023). Net income: CA$3.17m (up CA$3.08m from 3Q 2023). Revenue is expected to decline by 57% p.a. on average during the next 2 years, while revenues in the Software industry in Canada are expected to grow by 17%. Over the last 3 years on average, earnings per share has fallen by 22% per year whereas the company’s share price has fallen by 17% per year. Breakeven Date Change • Apr 04
No longer forecast to breakeven The analyst covering Neptune Digital Assets no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of CA$122.4k in 2024. New forecast suggests the company will make a loss of CA$134.0k in 2024. Reported Earnings • Apr 02
Second quarter 2024 earnings released: EPS: CA$0.003 (vs CA$0.005 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.003 (down from CA$0.005 in 2Q 2023). Net income: CA$343.2k (down 46% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. New Risk • Mar 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.2% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Revenue is less than US$5m (CA$2.3m revenue, or US$1.7m). Market cap is less than US$100m (CA$44.7m market cap, or US$33.0m). Recent Insider Transactions Derivative • Feb 25
Co-Founder exercised options to buy CA$248k worth of stock. On the 22nd of February, Cale Moodie exercised options to buy 750k shares at a strike price of around CA$0.29, costing a total of CA$221k. This transaction amounted to 20% of their direct individual holding at the time of the trade. Since June 2023, Cale's direct individual holding has increased from 3.70m shares to 3.82m. Company insiders have collectively bought CA$282k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Jan 30
First quarter 2024 earnings released: EPS: CA$0.008 (vs CA$0.008 loss in 1Q 2023) First quarter 2024 results: EPS: CA$0.008 (up from CA$0.008 loss in 1Q 2023). Net income: CA$1.02m (up CA$2.07m from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. New Risk • Jan 29
New major risk - Revenue and earnings growth Earnings have declined by 10% 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 10% per year over the past 5 years. Minor Risks Revenue is less than US$5m (CA$2.3m revenue, or US$1.7m). Market cap is less than US$100m (CA$43.2m market cap, or US$32.2m). Recent Insider Transactions • Jan 17
Independent Director recently sold CA$51k worth of stock On the 11th of January, Dario Meli sold around 125k shares on-market at roughly CA$0.41 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought CA$25k more than they sold in the last 12 months. Reported Earnings • Dec 24
Full year 2023 earnings released Full year 2023 results: Net loss: CA$5.13m (loss narrowed 76% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 133 percentage points per year, which is a significant difference in performance. Announcement • Dec 23
Neptune Digital Assets Corp., Annual General Meeting, Feb 29, 2024 Neptune Digital Assets Corp., Annual General Meeting, Feb 29, 2024. Recent Insider Transactions • Sep 01
Independent Director recently bought CA$69k worth of stock On the 28th of August, Dario Meli bought around 300k shares on-market at roughly CA$0.23 per share. This transaction amounted to 42% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$113k more in shares than they have sold in the last 12 months. New Risk • Aug 03
New major risk - Revenue and earnings growth Earnings have declined by 0.6% 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 0.6% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Revenue is less than US$5m (CA$2.3m revenue, or US$1.8m). Market cap is less than US$100m (CA$38.3m market cap, or US$28.7m). Reported Earnings • Aug 01
Third quarter 2023 earnings released: EPS: CA$0.001 (vs CA$0.042 loss in 3Q 2022) Third quarter 2023 results: EPS: CA$0.001 (up from CA$0.042 loss in 3Q 2022). Net income: CA$87.6k (up CA$5.39m from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 141 percentage points per year, which is a significant difference in performance. Announcement • Jul 12
Neptune Digital Assets Corp., Annual General Meeting, Aug 30, 2023 Neptune Digital Assets Corp., Annual General Meeting, Aug 30, 2023. Reported Earnings • May 02
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: CA$0.005 (up from CA$0.006 loss in 2Q 2022). Net income: CA$629.7k (up CA$1.44m from 2Q 2022). Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 149 percentage points per year, which is a significant difference in performance. Board Change • Apr 05
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Mitch Demeter was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Mitch Demeter was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Mitch Demeter was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 05
Neptune Digital Assets Corp. Announces Executive Changes Neptune Digital Assets Corp. announced that it has appointed Carmen To as Chief Financial Officer effective as of March 1, 2022. Mr. To will be replacing Kalle Radage who has served as Neptune's interim Chief Financial Officer since March 25, 2020. Mr. Radage will continue with the Company focusing on his role as Chief Operating Officer overseeing overall operations. Carmen To is a Chartered Professional Accountant (CPA, CA) in good standing with the Chartered Professional Accountants of British Columbia and has been on the Board of Directors of Neptune since November 15, 2019. Previously, he worked at KPMG LLP Vancouver servicing both private and public company clients. Board Change • Mar 05
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Mitch Demeter was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jan 28
Independent Director recently bought CA$87k worth of stock On the 24th of January, Dario Meli bought around 200k shares on-market at roughly CA$0.44 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$365k more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 10
Independent Director recently bought CA$100k worth of stock On the 6th of May, Dario Meli bought around 125k shares on-market at roughly CA$0.80 per share. In the last 3 months, they made an even bigger purchase worth CA$110k. Despite this recent purchase, insiders have collectively sold CA$67k more in shares than they bought in the last 12 months. Recent Insider Transactions • Apr 21
Independent Director recently bought CA$110k worth of stock On the 14th of April, Dario Meli bought around 100k shares on-market at roughly CA$1.10 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold CA$256k more in shares than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improved over the past week After last week's 28% share price gain to CA$1.05, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 47x in the Software industry in Canada. Total returns to shareholders of 250% over the past three years. Announcement • Apr 01
Neptune Digital Assets Corp. announced that it has received CAD 0.5 million in funding On March 31, 2021, Neptune Digital Assets Corp. (TSXV:NDA) closed the transaction. The transaction involved participation from 3 placees, including director Dario Meli for 250,000 shares. TSX Venture Exchange has accepted for filing documentation with respect to the transaction. Recent Insider Transactions • Mar 31
Independent Director recently sold CA$214k worth of stock On the 23rd of March, Dario Meli sold around 200k shares on-market at roughly CA$1.07 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$366k more than they bought in the last 12 months. Announcement • Mar 31
Neptune Digital Assets Corp. announced that it expects to receive CAD 0.5 million in funding Neptune Digital Assets Corp. (TSXV:NDA) announced that a private placement of 625,000 units at a price of CAD 0.80 per unit for gross proceeds of CAD 500,000 on March 29, 2021. Each unit is comprised of one common share and one half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of CAD 1 per warrant for a period of three years from the closing date. The transaction will include participation from certain directors and other investors of the company. The transaction is subject to final approval of the TSX Venture Exchange. The transaction is expected to close on or about March 31, 2021. The securities issued will be subject to a four-month resale restriction from the date of closing. Announcement • Mar 04
Neptune Digital Assets Corp. announced that it expects to receive CAD 0.3 million in funding Neptune Digital Assets Corp. (TSXV:NDA) announced a private placement of 923,077 units at a price of CAD 0.325 per unit for gross proceeds of CAD 300,000 on March 2, 2021. Each unit is comprised of one common share and one half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of CAD 0.4 per warrant for a period of three years from the closing date. The transaction is subject to final approval of the TSX Venture Exchange. The securities issued under the offering will be subject to the standard four-month hold. Is New 90 Day High Low • Feb 23
New 90-day high: CA$0.47 The company is up 194% from its price of CA$0.16 on 24 November 2020. The Canadian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 25% over the same period. Announcement • Jan 12
Neptune Digital Assets Corp., Annual General Meeting, Mar 25, 2021 Neptune Digital Assets Corp., Annual General Meeting, Mar 25, 2021. Reported Earnings • Dec 24
Full year 2020 earnings released: EPS CA$0.002 Full year 2020 results: Net income: CA$162.9k (up CA$4.52m from FY 2019). Is New 90 Day High Low • Dec 22
New 90-day high: CA$0.31 The company is up 343% from its price of CA$0.07 on 21 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 Software industry, which is up 22% over the same period. Announcement • Jul 20
Neptune Dash Technologies Corp.(TSXV:DASH) dropped from S&P/TSX Venture Composite Index Neptune Dash Technologies Corp.(TSXV:DASH) dropped from S&P/TSX Venture Composite Index