Buy Or Sell Opportunity • Mar 09
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 29% to UK£0.015. The fair value is estimated to be UK£0.021, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Meanwhile, the company became loss making. Announcement • Feb 26
Image Scan Holdings plc Provides Earnings Guidance for the First Half Year of Fiscal Year 2026 Image Scan Holdings Plc provided earnings guidance for the first half year of fiscal year 2026. For the period, trading in the early part of fiscal year 26 has been significantly ahead of the same period last year, supported by several notable contract wins already announced. As a result, the Company now expects to record a small loss at the half-year, reflecting stronger demand and an increased volume of activity across multiple markets compared with H1 last year. New Risk • Feb 02
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 British stocks, typically moving 7.5% 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 (7.5% average weekly change). Earnings have declined by 14% per year over the past 5 years. Market cap is less than US$10m (UK£2.81m market cap, or US$3.84m). Minor Risk Revenue is less than US$5m (UK£1.6m revenue, or US$2.2m). Buy Or Sell Opportunity • Feb 02
Now 28% undervalued Over the last 90 days, the stock has risen 7.4% to UK£0.015. The fair value is estimated to be UK£0.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jan 22
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: UK£0.002 loss per share (down from UK£0.002 profit in FY 2024). Revenue: UK£1.62m (down 44% from FY 2024). Net loss: UK£288.0k (down 239% from profit in FY 2024). Revenue missed analyst estimates by 26%. Earnings per share (EPS) also missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Jan 22
Image Scan Holdings Plc, Annual General Meeting, Feb 25, 2026 Image Scan Holdings Plc, Annual General Meeting, Feb 25, 2026. Location: 16 18 hayhill industrial estate, sileby road, leicestershire, le12 8ld, barrow upon soar United Kingdom New Risk • Dec 09
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 British stocks, typically moving 7.3% 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 Risks Earnings have declined by 14% per year over the past 5 years. Market cap is less than US$10m (UK£2.87m market cap, or US$3.83m). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Revenue is less than US$5m (UK£1.6m revenue, or US$2.2m). Reported Earnings • Dec 03
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: UK£0.002 loss per share (down from UK£0.002 profit in FY 2024). Revenue: UK£1.62m (down 44% from FY 2024). Net loss: UK£288.0k (down 239% from profit in FY 2024). Revenue missed analyst estimates by 26%. Earnings per share (EPS) also missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. New Risk • Jul 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 British stocks, typically moving 11% 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 Market cap is less than US$10m (UK£2.26m market cap, or US$3.07m). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (UK£2.1m revenue, or US$2.9m). New Risk • Feb 26
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 British stocks, typically moving 8.5% 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 Risks High level of non-cash earnings (32% accrual ratio). Market cap is less than US$10m (UK£3.08m market cap, or US$3.91m). Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Revenue is less than US$5m (UK£2.9m revenue, or US$3.6m). Reported Earnings • Jan 17
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: UK£0.002 (up from UK£0.001 in FY 2023). Revenue: UK£2.86m (down 3.4% from FY 2023). Net income: UK£207.0k (up 67% from FY 2023). Profit margin: 7.2% (up from 4.2% in FY 2023). The increase in margin was driven by lower expenses. 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 3% per year, which means it is significantly lagging earnings. Announcement • Jan 15
Image Scan Holdings Plc, Annual General Meeting, Feb 26, 2025 Image Scan Holdings Plc, Annual General Meeting, Feb 26, 2025. Location: the registered offices, 16 18 hayhill industrial estate, sileby road, leicestershire, le12 8ld, barrow upon soar United Kingdom Reported Earnings • Dec 04
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: UK£0.15 (up from UK£0.001 in FY 2023). Revenue: UK£2.86m (down 3.4% from FY 2023). Net income: UK£207.0k (up 67% from FY 2023). Profit margin: 7.2% (up from 4.2% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 185% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Nov 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (UK£3.90m market cap, or US$4.92m). Minor Risks Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Share price has been volatile over the past 3 months (10.0% average weekly change). Revenue is less than US$5m (UK£2.6m revenue, or US$3.2m). Announcement • Mar 12
Image Scan Holdings Plc Launches AXIS-CXi Cabinet with AI Software Image Scan Holdings Plc announced the official launch of advanced AI software integrated into AXIS-CXi cabinet X-ray system. The unveiling will take place at the prestigious 2024 Security and Policing event in Farnborough, a closed government organisation gathering, showcasing the latest advancements in security solutions. Designed to revolutionise mail screening and building entrance security, the newly integrated AI software adds an intelligent layer to the AXIS-CXi cabinet X-ray system, providing increased accuracy and efficiency in threat detection. Key Features of the AXIS-CXi Cabinet X-ray system with AI Software: Enhanced Threat Recognition: The AI software employs algorithms to identify and analyse potential threats with an enhanced level of precision and confidence. Efficient Mail Screening: The system streamlines mail screening processes, ensuring a rapid yet thorough examination of incoming mail for any suspicious items. Building Entrance Security: With real-time threat assessment, the AXIS-CXi system contributes to bolstering security at building entrances, safeguarding against unauthorised or potentially harmful items, including firearms, ammunition, sharp objects, and drones. User-Friendly Interface: The intuitive user interface ensures ease of operation, allowing security personnel to make informed decisions swiftly. New Risk • Feb 29
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 British stocks, typically moving 12% 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 (12% average weekly change). Market cap is less than US$10m (UK£1.51m market cap, or US$1.91m). Minor Risk Revenue is less than US$5m (UK£3.0m revenue, or US$3.8m). Announcement • Jan 10
Image Scan Holdings Plc, Annual General Meeting, Feb 28, 2024 Image Scan Holdings Plc, Annual General Meeting, Feb 28, 2024, at 13:30 Coordinated Universal Time. Location: registered offices of 16 -18 Hayhill Industrial Estate, Sileby Road, Barrow-upon-Soar Leicestershire United Kingdom Reported Earnings • Dec 13
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: UK£0.001 (up from UK£0.002 loss in FY 2022). Revenue: UK£2.96m (up 48% from FY 2022). Net income: UK£123.9k (up UK£395.5k from FY 2022). Profit margin: 4.2% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 29%. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. New Risk • Nov 12
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Market cap is less than US$10m (UK£2.53m market cap, or US$3.10m). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Revenue is less than US$5m (UK£2.7m revenue, or US$3.3m). New Risk • Oct 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 British stocks, typically moving 11% 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 Market cap is less than US$10m (UK£3.15m market cap, or US$3.87m). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (UK£2.7m revenue, or US$3.3m). Announcement • Oct 10
Image Scan Holdings plc Provides Revenue Guidance for Fy23 Image Scan Holdings Plc provided revenue guidance for FY23. For the period, the company expects to report strong sales and profit growth for the year. Unaudited revenue is expected to be £3 million for FY23 (FY22: £2 million) an increase of 50%. Reported Earnings • Apr 27
First half 2023 earnings released: EPS: UK£0 (vs UK£0.003 loss in 1H 2022) First half 2023 results: EPS: UK£0 (improved from UK£0.003 loss in 1H 2022). Revenue: UK£1.46m (up 85% from 1H 2022). Net income: UK£16.0k (up UK£361.0k from 1H 2022). Profit margin: 1.1% (up from net loss in 1H 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Jan 19
Image Scan Holdings Plc, Annual General Meeting, Feb 28, 2023 Image Scan Holdings Plc, Annual General Meeting, Feb 28, 2023, at 13:30 Coordinated Universal Time. Location: at the registered offices of 16 -18 Hayhill Industrial Estate Sileby Road, Barrow-upon-Soar Leicestershire United Kingdom Reported Earnings • Dec 14
Full year 2022 earnings released Full year 2022 results: Revenue: UK£2.00m (down 30% from FY 2021). Net loss: UK£271.5k (down 213% from profit in FY 2021). Revenue is forecast to grow 33% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Financial Director, Company Secretary & Executive Director Sarah Atwell-King was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 27
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: UK£0.002 (up from UK£0.001 in FY 2020). Revenue: UK£2.87m (down 18% from FY 2020). Net income: UK£239.9k (up 74% from FY 2020). Profit margin: 8.3% (up from 4.0% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Over the next year, revenue is expected to shrink by 13% compared to a 8.2% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
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. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Tim Jackson was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jan 25
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: UK£0.002 (up from UK£0.001 in FY 2020). Revenue: UK£2.87m (down 18% from FY 2020). Net income: UK£239.9k (up 74% from FY 2020). Profit margin: 8.3% (up from 4.0% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Over the next year, revenue is forecast to grow 15%, compared to a 7.3% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Dec 08
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: UK£0.002 (up from UK£0.001 in FY 2020). Revenue: UK£2.87m (down 18% from FY 2020). Net income: UK£239.9k (up 74% from FY 2020). Profit margin: 8.3% (up from 4.0% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Earnings per share (EPS) surpassed analyst estimates by 21%. Over the next year, revenue is forecast to grow 15%, compared to a 7.4% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Dec 05
Revenue beats expectations Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Reported Earnings • Dec 05
Full year 2020 earnings released: EPS UK£0.001 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: UK£3.48m (up 47% from FY 2019). Net income: UK£138.0k (up UK£505.8k from FY 2019). Profit margin: 4.0% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 63% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings.